Time to revisit this old thread since we are back in the $24 hundreds again [$2485 per ounce as I type. I tried to cheer myself up and take advantage of the lower prices by putting in $10k of bids in this evening's Gold Coast coin auction. But it was all to no avail, I got overbid on every sovereign and half sovereign that I bid on. So I walked away with nothing for all my efforts. Someone should have told those punters that the price of gold has come down more than $200 an ounce and they should bid accordingly! I miss the good old days when you could actually get nice sovereigns for spot prices at auctions.
The easy way to double your money at an auction is to fold it in half and put it back in your pocket.
Yes, and keep it in your pocket for 5 years, and then it will buy you half what it does now (if you are lucky). Fug that! Most of the sovereigns that I purchased that long ago are now worth double the money, so I can't complain. You can keep your cash in your pocket if you wish
Yep, It was a joke. I think most people on this forum would agree the purchasing power of the dollar is dropping every day.
