Last Wednesday, I wrote about the potential seigniorage of the 2008 American Buffalo 24-karat Gold Coins and suggested that some may be used as an investment. Remember, I am not an investment advisor and don’t pretend to know what I am talking about in that area. But if you are watching the market price of gold as an investor or interested bystander, you know that it has been in a real roller coster ride this year.
Since writing about the gold Buffaloes, gold has dropped to $954.60 (as of 5:15 PM, NY Time) from Wednesday’s close of $975.10. It may have a lot to do with the upward movement of stocks on the New York Stock Exchange—NASDAQ was down because of lower than expected earnings reports from Microsoft (MSFT) and Google (GOOG), two technology sector bellwethers.
As an interested bystander, I was wondering about gold in this market. I was pointed to TheStreet.com, the site started by financial guru Jim Cramer, to see what they had to say. I came across the following video report about investing in gold during these economic times:
It is an interesting take on the market. My posting it here is by no means an endorsement of these opinions or a recommendation. You should consult with your investment adviser (if you have one) and make the decision that fits your investment goals. My interest is as a coin collector but would like to see some value from the collection as I consider the eventual passing of my collection to my family.