Conference nyoss1::market_investing

    I think it is a good idea.  However, I'd like to buy real gold coins. 
    Where is a good place to buy American Eagle from?  I am assuming
    jewelry stores would have mark-ups for these things.
    
    Thanks in advance.
    
    Amin

.0> If the U.S. Dollar were to decline in value significantly,
.0> wouldn't Gold be a good place to "park" some money?

    This is a matter of opinion. In the past few months the dollar index 
    hit (or nearly so) a very long-term low. Gold showed little signs 
    of life, meaning it actually declined in price against the stronger 
    currencies. Many financial advisors are puzzled by this. Some blame it
    on central banks selling gold to keep the price from rising above $400/oz.
    
.0> Aside from buying and storing real Gold (coins, bars, etc.)
.0> can you buy shares in a Gold mutual fund - not a Gold mining fund,
.0> but a Gold bullion fund?  What are some popular Gold bullion funds?
    
    I'm sure someone will mention some names. You can buy oil this way
    via the Salomon Phibro Oil Trust (AMEX:SPO) and for all I know they
    have a similar gold program. I would check management's fee structure 
    very carefully -- it isn't that hard to buy and store a lot of gold,
    and shouldn't cost much.
    
    One thing to beware is sending money to a firm that "buys and stores"
    gold for you. I had some platinum in a reputable firm I researched and
    thought I could trust. Then I got a letter from the FBI explaining that
    the firm had gone bankrupt and my assets were no more. I was invited to
    write a letter to a judge explaining how this affected my life -- they
    had caught the director and convicted him on various embezzlement charges
    and the judge was deciding what sentence to pass. (I think ~ 30 years.)
    
    BTW, as a rule the mining shares are more volatile than the bullion.
    This follows from the fact they have a fixed extraction price. If it
    costs them $350/oz. to mine gold, a 10% rise in gold would give them
    a ~100% increase in revenue. It works the other way, too. 
    
    In many respects the mining shares look better than the metal itself.
    
.1>    I think it is a good idea.  However, I'd like to buy real gold coins. 
.1>    Where is a good place to buy American Eagle from?  I am assuming
.1>    jewelry stores would have mark-ups for these things.
    
    Everybody has a mark-up. I've dealt with Bruce Breton in Nashua where 
    there is no sales tax, and can recommend him. 603-882-2050. Bring cash.
    
      John

   203  DECWET::KARMALI      18-MAY-1992    23  Gold indicators seem bullish
   518  ZENDIA::FERGUSON      7-JUL-1993     6  Gold funds: will they continue to be hot?
   580  CPDW::ROSCH          30-SEP-1993    32  Time to buy Gold?
   654  ASIC::MORA            5-JAN-1994     3  Govt Bonds vs Munis vs Gold funds?
   669  CAPNET::WENTWORTH    25-JAN-1994    11
		 Need explanation - Futures / Options / Calls / Puts  -Gold

    Thanks so much John.  I just called them and they seemed very nice. 
    Their prices are quite reasonable, I think. Am going to take a ride
    over there this weekend.
    
    Thanks again.
    
    Amin

    
    Has anyone purchased bullion or gold Coins from "Jefferson bullion
    and Coin".  They are based in New Orleans.
    
    I received a solicitation from them through a newsletter that I
    receive.  I would like to purchase some investment quality gold
    coins, but not having done so before, I don't know how to locate
    a reputable source.
    
    Suggestions would be welcomed.
    
    Tom
    

>   Has anyone purchased bullion or gold Coins from "Jefferson bullion
>   and Coin".  They are based in New Orleans.
    
    That's Jim Blanchard's outfit, right? It's an honest firm. They do a
    fair amount of glitzy marketing and that marks up their product a bit.
    
    What do you mean by "investment quality"? Do you mean, like, RARE coins?
    If so, you might want to ask in TALLIS::STAMPS_N_COINS (SELECTable). 
    I would advise you to consider Michael Hall in L.A. or Investment
    Rarities in Minneapolis for rare coins, but then suggest such to be a
    poor investment and that you buy bullion coins instead.
    
      John

re: 882.5

If you want to buy gold bullion I suggest you call the coin dealers
listing in your local yellow pages under coins and ask for their buy/sell
quotes for 1 oz. Maple Leafs, US Eagles, and/or Kugerands.

In any case make sure you take delivery of the bullion and plan to store it in
a safety deposit box. Don't let the dealer store the bullion coins for you, they
may go bankrupt and you'll lose everything.

If you want numismatice coins then I suggest you subscribe to a collecting
journal to get a feel for the hobby before you shell out any money. Call
Numismatic News, Iola WI, and they'll probably give you 4 weeks free.

When it come to collectiong coins, knowledge of the hobby is everything.

Mark

PS I used to thing gold coins/bullion coins were the way to play the gold
theme, but I now believe gold stocks are the way to go, and I stick to
the larger/established stocks e.g. Homestake Mining

    Thanks for your input.  I think I used the wrong term "investment" I
    want the coins for investment, but not as numismatic coins. I think
    the correct term is Bullion coins as a previous note mentioned. 
    So would I be correct in considering coins like Krugerrands, Maple
    leafs Etc?  The particular coins that are being offered by Jefferson
    Coin & Bullion are Swiss helliviticas (sp) at (I think) about 
    13% over bullion price. Is this too much of a premium or should I
    look at some of the local coin dealers as mentioned in this note
    string?
    
    Thanks again for the advice.
                                                        

>   the correct term is Bullion coins as a previous note mentioned. 
>   So would I be correct in considering coins like Krugerrands, Maple
>   leafs Etc?  The particular coins that are being offered by Jefferson
>   Coin & Bullion are Swiss helliviticas (sp) at (I think) about 
>   13% over bullion price. Is this too much of a premium or should I
    
    13% is too much premium for bullion. Look in the WSJ commodities page
    under "Cash Prices" for representative prices and/or call up some local
    dealers. Be sure to add in the 5% MASS sales tax if you buy there.
    
    If you're looking for investment you want a liquid coin. In the USA the
    liquid coins are American Eagles, Canadian Maple Leafs and Krugerrands.
    Buy some of these. For variety pick up a Platinum Maple Leaf.
    
      John

    Does anyone out there know the stock symbol for Echobay (gold mining)?
    Its on the AMEX but a ticker search on /secapl/quoteserver turned up
    nothing.
    
    
    
    

    Have you tried asking for "Echo Bay Mines"? It's 3 words. I'd look it
    up for you but I don't belong to any Internet Quote services.
    
      John

> Have you tried asking for "Echo Bay Mines"? It's 3 words. I'd look it
> up for you but I don't belong to any Internet Quote services.

	You don't have to "belong", several of the *free* services
	don't require any sign-up (such as the Security APL system,
	or the DBC server from Signal).  The free stuff is time delayed
	of course ...

	In any case, it appears a symbol search on the S. APL server didn't
	turn up anything is that it doesn't seem to have a "description"
	field for it.  I looked up the symbol from an old list someone had
	posted to one of the topics (on ticker symbols) in this conference 
	and the verdict is:

Symbol: ECO [AMEX]
Last Trade: 14 5/8, Change 3/8 (2.63%) at Feb 07  9:49:02
Low & High: 14 1/2 & 14 5/8 (spread 1/8)
52 Week Low & High: 8 5/8 & 14 5/8 (spread 6)
Volume/# of Trades: 292000 / 36 (8111 shares/trade)
Market Cap: 0.00, Beta: 0.00