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imo, carseller, you are underestimating the importance of the eastern consumer. Taking car sales as an example:

Vietnam car sales up 79 percent in first half - China's car sales up nearly 26% in first half

UK: Barclays warns of falling new car sales

Once our paper resource tokens don't buy so many resources, why would the East want them?

The eastern consumer are important, but so are we, no way east have enough steam to keep the prices on raw materials high, if the western consumer falls out of the picture. Because if we stop lending, they stop getting the cash to buy those cars.

Edited by carseller
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The eastern consumer are important, but so are we, no way east have enough steam to keep the prices on raw materials high, if the western consumer falls out of the picture. Because if we stop lending, they stop getting the cash to buy those cars.

Wait - why do you think only we can print cash? They can as well. If the handover should be smooth, the Yuan must

become the new reserve currency anyway.

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Wait - why do you think only we can print cash? They can as well. If the handover should be smooth, the Yuan must

become the new reserve currency anyway.

I think you are talking 25 years into the future. We print digital debt out of thin air, not cash Unlike cash, digital debt can disappear as fast as it came. They are printing as much digital debt that they can in China, because they want to keep up with us, so their currency stay weak. It can blow up in 3 months, or in 3 years, who knows. The insane thing is that China are running with full steam ahead, juicing up their economy with cheap interest rates, when they don't have to. They could grow slow and steady, instead they are

having lead on the pedal like a runaway train, just like japan did in the eighties. It's going to blow up big time.

Edited by carseller
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I was going to say last week, (except the site was having troubles) that it seems from looking at the 1 year $US chart, we've hit an important technical bottom in gold and it should be heading back up now. And so it seems. There is very solid support at golds' 200dma and no central bank dumping, hedge fund dumping, or interest rate hike has yet changed that fact..

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It is about getting into real cash before it is too late. :rolleyes:

As ever, please be patient with me, but:

I've been thinking... Now that the currencies of the world are not backed by gold any more[1], and as gold has few practical uses... why, as a species, do we continue to give gold an artificially high 'value'?

Could it ever happen that human beings just wake up one day and say, 'Hey, this gold thing... what's it all about exactly?'

[1] Or are there some left?

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The eastern consumer are important, but so are we, no way east have enough steam to keep the prices on raw materials high, if the western consumer falls out of the picture. Because if we stop lending, they stop getting the cash to buy those cars.

Have you been to Indonesia, Vietnam, Thailand, Maylasia? I have many times and the scale of growth is phenonemal. THe drive of these people is stunning. Do not underestimate them.

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hi guys just found this forum and wondering if i could have your opinion, been offered 50 gold sovereigns(full) at £70 a coin .Is this good value as they are various dates and of good quality(the odd scratch).Also how can i tell if they are real, do i go to a jeweller or is it possible to get a scales or something like that.Sorry if this has come up already as i am lazy and havent read all the posts.

Thanks

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hi guys just found this forum and wondering if i could have your opinion, been offered 50 gold sovereigns(full) at £70 a coin .Is this good value as they are various dates and of good quality(the odd scratch).Also how can i tell if they are real, do i go to a jeweller or is it possible to get a scales or something like that.Sorry if this has come up already as i am lazy and havent read all the posts.

Thanks

i take this is on ebay? buy them. can't see any problems :)

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hi guys just found this forum and wondering if i could have your opinion, been offered 50 gold sovereigns(full) at £70 a coin .Is this good value as they are various dates and of good quality(the odd scratch).Also how can i tell if they are real, do i go to a jeweller or is it possible to get a scales or something like that.Sorry if this has come up already as i am lazy and havent read all the posts.

Thanks

£70 is good - they are worth about £80 each.

as for telling if they are real you could weigh them, but you need an accurate balence (scales) - they should weigh 7.8g each.

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No its through a friend of a friend ,looked on ebay and they appear to sell for £80+,this guy needs the money now and is being offered £60 by a jeweller,so i have no feedback to go on and afraid i may buy worthless fakes,he is letting go to the jeweller on thursday if no one else is intrested again thanks for the help.

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As ever, please be patient with me, but:

I've been thinking... Now that the currencies of the world are not backed by gold any more[1], and as gold has few practical uses... why, as a species, do we continue to give gold an artificially high 'value'?

Could it ever happen that human beings just wake up one day and say, 'Hey, this gold thing... what's it all about exactly?'

[1] Or are there some left?

:rolleyes: Alright. For many thousand years until this very day (July 9, 2007) gold was one of the most valuable substances

humanity knows. Now, we are off the gold standard for currencies only since 1971. So, I ask you, what is more likely:

that (1) humanity wakes up and things gold has no value anymore, or (2) humanity wakes up (as, by the way, many times

before) and realizes it was a huge mistake to not back the world reserve currency (and all the others) by anything.

I am very inclined to believe in (2).

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£70 is good - they are worth about £80 each.

as for telling if they are real you could weigh them, but you need an accurate balence (scales) - they should weigh 7.8g each.

There exist automatic sovereign counters. But I guess by now most of them can be found in museums.

The question is, why is your friend not selling to a professional bullion dealer like Baird's or Chard's?

Don't they offer more than £70? Anyway, if you find a way to test them, £70 seems a very good price.

You could sell them piecewisely on Ebay. Why is you friend not doing that, BTW.

Edited by Goldfinger
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hi guys just found this forum and wondering if i could have your opinion, been offered 50 gold sovereigns(full) at £70 a coin .Is this good value as they are various dates and of good quality(the odd scratch).Also how can i tell if they are real, do i go to a jeweller or is it possible to get a scales or something like that.Sorry if this has come up already as i am lazy and havent read all the posts.

Thanks

It sounds like a good deal, but do you know this guy? and can you trust him? I don't know what your local area is but you could ring up a local BNTA member and arrange an appointment for him to value these coins before you buy. Possibly for a small fee. There are a lot of fakes out there and If your new to gold you should be very, very careful, it's even possible the guy selling may have bought them thinking they were real and does not know he may be selling fakes.

The first thing you should do is do some serious research on sovereigns before you buy, heres a websites that will help. It does not pay to be lazy when spending £3500

http://www.goldsovereigns.co.uk/information.html

Edited by enrieb
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There exist automatic sovereign counters. But I guess by now most of them can be found in museums.

The question is, why is your friend not selling to a professional bullion dealer like Baird's or Chard's?

Don't they offer more than £70? Anyway, if you find a way to test them, £70 seems a very good price.

You could sell them piecewisely on Ebay. Why is you friend not doing that, BTW.

It's a friend of a friend who needs the money now(i do know his business is in trouble).if i do find out there real and purchase the coins i will keep them as i think times are changing and they will give me a little security in the possible turblent times ahead(i hope i am wrong about the future and even if i am i will have some nice coins)again thanks for all the help

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That's interesting. Still, I think to assume that it will be exactly like 1929 is stretching my imagination too far.

There is much more trade today, the whole of Asia playing the game as well.

I think somewhere in the path from high raw material costs to high wages, the global boom will turn, wages should turn. I somehow think the Gold bugs have to think the boom should last forever, or that central banks should be unable to contain inflation, atleast in China.

I think China could push the world into stagflation, that's what Gold needs, but I think the global debt levels are to high, and deflation is in the cards. Well, we will see.

Once the digital debt goes into the thin air it came from, I think paper cash should be king. I am thinking about buying a 1 oz gold coin just for the fun of it, to see if it change how I view gold. Any no nonsense, non exotic gold coins with good gold value and no collector value?

Edited by carseller
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It's a friend of a friend who needs the money now(i do know his business is in trouble).if i do find out there real and purchase the coins i will keep them as i think times are changing and they will give me a little security in the possible turblent times ahead(i hope i am wrong about the future and even if i am i will have some nice coins)again thanks for all the help

You need a Fisch #2 wallet: http://www.fisch.co.za/order.html - unfortunately they take weeks to arrive (unless you want to pay $95 for express delivery and can persuade him to wait a day or two).

You could use a micrometer and electronic scales. They weigh 7.9873 grams and have a diameter of 22.05 mm

enrieb's suggestion of getting a BNTA member to assay them may well be your best bet.

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Once the digital debt goes into the thin air it came from, I think paper cash should be king. I am thinking about buying a 1 oz gold coin just for the fun of it, to see if it change how I view gold. Any no nonsense, non exotic gold coins with good gold value and no collector value?

krugerrands have the lowest premium over spot price

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I am trying to show what the prices would be today, if there were no inflation since then, and the gold standard were set at the current gold price:

http://www.thepeoplehistory.com/

I am using the 1920 numbers:

Then I take the price of the house *26

As we see the prices are from 1500 to 6000, in todays gold standard that becomes 39000-156000 USD (Or if I go back to 2001 15000-60000) (I think that proves gold were cheap at 250)

Cars: 650-5000 or 16900-130000 USD

Eggs: 25-60 cent, (12 eggs) or 6,5 to 15,6

Foods are cheap today, but expensive in real terms, when you think of the price it would have been today, if shops were having the same profit as back then.

Real estate are really expensive. Cars are one of the things that's priced right.

Edited by carseller
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The first thing you should do is do some serious research on sovereigns before you buy, heres a websites that will help. It does not pay to be lazy when spending £3500

most fiat is almost worthless toilet paper now - turn it into something of value before it disappears...

Edited by dnd
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I am trying to show what the prices would be today, if there were no inflation since then, and the gold standard were set at the current gold price:

http://www.thepeoplehistory.com/

I am using the 1920 numbers:

...

If you divide the $1,500-$6,000 by $20.67, the price for 1oz gold in 1920, you end up with 72oz-290oz.

This is exact where we're heading to. The average home in the US and the UK will fall to around 100oz.

If you buy today, that is £32,500. Sounds much less than £180,000-£200,000. :)

Edited by Goldfinger
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  • 441 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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