PSA: If you invest in gold ...

[Karl_K]

Economics tells us that when supply goes down, price goes up.

only if demand stays constant.
A lot of gold buying these days is because people are scared the euro and dollar are going to fail.
The rest of it is speculation.
That is what is driving prices and demand.
Now throw in some fear that even gold isn't all that safe and demand goes down.
You have a product that's price is based on smoke and mirrors and fear and has a history of being very voletal so prices could do just about anything.

 

[Karl_K]

speaking of counterfeit...
this is the best counterfeit $10 glod piece that i ever encountered. about 6 yrs ago a coin dealer friend of mine offer to sell me this 1892 $10 gold piece for $1500. i told him it was a counterfeit coin (he laughed at me) and so i offered him $310 which was melt value for its gold content, at the time gold was trading for about $620 per oz.anyhow,he claim it is a genuine coin,so i told him to send it to the grading lab,guess what? it came back "counterfeit"... so i ended up buying the coin from him for $310.

btw, this coin will fool 80% of the dealers out there.i had offers of $1650-$1900 from different coin dealers,but i refused to sell anybody a counterfeit coin.

That is why I tell people to stay away from collector coins.
That is whole nuther kettle of fish.