Author Topic: Gold vs Bitcoin  (Read 898 times)

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Online KeyDate1/2ozPandas

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Gold vs Bitcoin
« on: July 25, 2019, 08:53:02 PM »
Previous thread (Take a bite out of bitcoin) got too political so have start a new thread.  On February 26, 2019 I wrote “I am looking forward to when gold breaks $1400, that will be the time to add some more physical, if it breaks $2000 time to go all in.  When gold does break, watch bitcoin or bitcon to follow suit, the young people will never buy gold so that will be a nice complementary investment.”

On February 26, 2019, gold was $1,325 and bitcoin was $3,850.
Today July 26, 2019, gold is $1,415 and bitcoin is $10,000.

What an amazing 6 months for both gold and bitcoins.  Bitcoin has almost tripled (young people buying) while gold has broken 6 year resistance line.  While I missed the bitcoin run, I am glad to participate in the gold run through mining companies.  Last week I sold some mining stocks to start buying physical, panda market is still flat despite a nice breakout in gold. Here is a pic of last weeks purchases (excludes 25% of items for confidential reasons), first net buying month in almost 2 years, as I had mentioned I would once gold was above $1400. This market seems a lot like 2009, when interest in coins had faded and only a few investors were buying.  I hope to see similar pattern play out as 2009-2011 run over the next three years.

Offline pandamonium

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Re: Gold vs Bitcoin
« Reply #1 on: July 26, 2019, 07:12:00 AM »
Another big buy for keydatepanda.      Where do you find all these gold sets?      I see asking price increase but buying price has gone up just a little.     When real demand kicks in there will be little supply left.       Chinese coin collectors are buying bitcoin too and i have been contacted to buy but would rather own real Chinese........

Online KeyDate1/2ozPandas

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Re: Gold vs Bitcoin
« Reply #2 on: July 26, 2019, 02:00:04 PM »
The proof sets were buried in a basement, they were covered in dirt.  They were untouched since 1994.  The plastic was impossible to clean, but capsules were all perfect except 1 had dirt on it, but all coins were perfect.  Boxes and coa dissolved into the earth.  The seller was trying to sell for a few months but wanted too much, finally his expectations were beaten down to a reasonable level and timing was just right when I had desire to add to my collection.  Hope to make some big purchases at ANA show August 13 if gold is above $1375, then sit back until gold hits $1600 to buy more.  All the purchase I made in the last week were from 6 sellers, it is very hard to spend more than $5-$10k on FRESH omp material. 

I don’t know when demand will kick in, it will have to take some catalyst to trigger spec money back into the market.  Personally, I don’t mind if things stay flat while gold rises, it gives me more time to find rare material at reasonable prices. 

Offline Birdman

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Re: Gold vs Bitcoin
« Reply #3 on: July 26, 2019, 03:40:50 PM »
Previous thread (Take a bite out of bitcoin) got too political so have start a new thread.  On February 26, 2019 I wrote “I am looking forward to when gold breaks $1400, that will be the time to add some more physical, if it breaks $2000 time to go all in.  When gold does break, watch bitcoin or bitcon to follow suit, the young people will never buy gold so that will be a nice complementary investment.”

On February 26, 2019, gold was $1,325 and bitcoin was $3,850.
Today July 26, 2019, gold is $1,415 and bitcoin is $10,000.

What an amazing 6 months for both gold and bitcoins.  Bitcoin has almost tripled (young people buying) while gold has broken 6 year resistance line.  While I missed the bitcoin run, I am glad to participate in the gold run through mining companies.  Last week I sold some mining stocks to start buying physical, panda market is still flat despite a nice breakout in gold. Here is a pic of last weeks purchases (excludes 25% of items for confidential reasons), first net buying month in almost 2 years, as I had mentioned I would once gold was above $1400. This market seems a lot like 2009, when interest in coins had faded and only a few investors were buying.  I hope to see similar pattern play out as 2009-2011 run over the next three years.


Nice!

Offline pandamonium

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Re: Gold vs Bitcoin
« Reply #4 on: July 27, 2019, 07:17:08 AM »
What a score on proof sets.      Where will we find supply in the future?

For you new collectors, notice his photo has NO new issue low mint medals NILM or coins?       The wise buy early issue.    Those that sell new issue are using the profits to buy early issue behind the scenes.       Only buy early issue.....

Many articles say China's economy is collapsing, banks failing, etc..     China owns the gold.     Will we see a drop in Chinese coins/medals as China's economy falters or will we see a flood into bullion/rare Chinese?    Hopefully a drop in price....

Goldseek    Rueters:  "Swiss National Banks says Snb and 21 further Central banks will not renew....."      Sept 26    Could this impact the gold market, i don't know.....

Where do you find these rare Chinese?        Buried in the dirt?    Arif, you are the King of Gold Pandas..

 Ebay asking prices are rising fast but selling prices are climbing a bit slower.   Many more bidders and watchers.     
example of demand;    A 1993 G10Y Proof Gold Panda 1/10 OMP was listed at $225 then relisted at $299 Sold in a day or 2.     Another 93 1/10 PF 69  $295 Sold in hours.     Price seems about right but both were quick sales so maybe a bit low price....     

Offline Wafdawg

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Re: Gold vs Bitcoin
« Reply #5 on: August 01, 2019, 10:13:57 PM »
Previous thread (Take a bite out of bitcoin) got too political so have start a new thread.  On February 26, 2019 I wrote “I am looking forward to when gold breaks $1400, that will be the time to add some more physical, if it breaks $2000 time to go all in.  When gold does break, watch bitcoin or bitcon to follow suit, the young people will never buy gold so that will be a nice complementary investment.”

On February 26, 2019, gold was $1,325 and bitcoin was $3,850.
Today July 26, 2019, gold is $1,415 and bitcoin is $10,000.

What an amazing 6 months for both gold and bitcoins.  Bitcoin has almost tripled (young people buying) while gold has broken 6 year resistance line.  While I missed the bitcoin run, I am glad to participate in the gold run through mining companies.  Last week I sold some mining stocks to start buying physical, panda market is still flat despite a nice breakout in gold. Here is a pic of last weeks purchases (excludes 25% of items for confidential reasons), first net buying month in almost 2 years, as I had mentioned I would once gold was above $1400. This market seems a lot like 2009, when interest in coins had faded and only a few investors were buying.  I hope to see similar pattern play out as 2009-2011 run over the next three years.


When you start buying I certainly take notice.  It reaffirms my convictions that this is a very good time to quietly accumulate.  My conviction on bitcoin is even stronger.  There is some limited downside but if you are accumulating it is a good time to start building a position.  The writing is on the wall.  Rate cuts when the economy is supposedly flying high.  Money printing is coming. Bitcoin and Gold should run.

Offline dobedo

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Re: Gold vs Bitcoin
« Reply #6 on: August 06, 2019, 09:00:51 AM »
Arif, Please lead the way and I will follow! Thanks for sharing.

Online KeyDate1/2ozPandas

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Re: Gold vs Bitcoin
« Reply #7 on: August 07, 2019, 11:08:48 PM »
China and central banks are buying gold.  I think 12-month target of $2000 is in the cards and possibly by year-end if trump tariffs go to 25% by year-end on all imports from China.

https://www.kitco.com/news/2019-08-07/China-s-Central-Bank-De-Dollarizes-Buys-More-Gold.html

If you are coming to ANA next week in Chicago and want to meet up text me.  I am bringing and getting (from NGC and prepurchased deals) many more coins than I can afford to own and will be selling all extras Tuesday.  Will launch website end of next week for rarer dates and MS70s.

Offline Birdman

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Re: Gold vs Bitcoin
« Reply #8 on: August 16, 2019, 10:25:44 AM »
If you are coming to ANA next week in Chicago and want to meet up text me.  I am bringing and getting (from NGC and prepurchased deals) many more coins than I can afford to own and will be selling all extras Tuesday.  Will launch website end of next week for rarer dates and MS70s.

How the ANA event going?

Online KeyDate1/2ozPandas

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Re: Gold vs Bitcoin
« Reply #9 on: August 16, 2019, 10:55:13 PM »
I was only there for the first day.  Retail traffic looked very weak.   Dealer to dealer business was great.  Sold every coin I brought at prices that were reasonable.  Could have easily sold more coins, but decided to hold back for Long Beach show.  As for buying very few coins were available at reasonable prices, except for common stuff.  Didn't buy a single coin at the show, all purchases were made the night before or pre-show.  The highlight of the show was a great lunch with Peter A.

Offline 1668Chris

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Re: Gold vs Bitcoin
« Reply #10 on: August 21, 2019, 08:31:12 AM »
Any update on your website? 

Thanks

Online KeyDate1/2ozPandas

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Re: Gold vs Bitcoin
« Reply #11 on: August 25, 2019, 05:24:11 PM »
Plan for the week is to get web site and ebay store back up.  Don't have much to sell as August has been a slow month except for Friday when gold spiked and sellers came out.  Majority of buyers right now are investors and dealers, I don't see much retail participating this early in the cycle, they are still sitting on losses and don't want to add until break even.  One thing different this cycle will be lack of shipping to China.  I don't want to ship anything over there with tariffs in place, so only venues to sell are US buyers via web or major coin shows. 

Offline Mirkkanen

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Re: Gold vs Bitcoin
« Reply #12 on: August 25, 2019, 09:00:10 PM »
Are tariffs payed by US shippers who ship to mail forwarding PO boxes? I dont believe so, but plz correct me if I am wrong. Any serious Chinese buyers should set up mail forwarding if they plan to acquire items from US sellers via mail.

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Re: Gold vs Bitcoin
« Reply #13 on: August 25, 2019, 11:09:46 PM »
The tariffs are paid by the buyers at their local customs office in Shanghai, Beijing, etc.  Now with tariffs in place on almost all US goods customs are holding more packages for inspections.  I suppose someone sophisticated would ask US sellers to ship to Canada or Hong Kong and then forward from there to the mainland to avoids tariffs. Regardless with weak yuan and additional logistical challenges selling to mainlanders is not worth the hassle, especially considering stronger buyers exist in the US, Canada, Germany, Hong Kong, and Singapore.