CoinsbyGary

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Journal Entries, Gold Coins, and the Economy.

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gherrmann44

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A journal entry that mislead me, but turned out well

Today I saved $50.00 on a coin purchase because of a journal posted by Collector?s Society member ?davidricher? written yesterday. For those of you who read his journal, he stated that the mint would BEGIN shipping UHR?s April 24 and then only to those who placed orders on Jan 22. This afternoon I received an e-mail from the mint stating that they have begun to ship Feb 22 and expect to deliver UHR?s ordered between Jan 22 and Feb 23 BY April 24. I believe the information in the journal, though false, was an honest mistake. Based on the information in ?davidricher?s? journal I placed an order for one each, Elizabeth Monroe and Louisa Adams gold proof coins yesterday afternoon. Now you are probably wondering how I get from a journal entry on UHR?s to a first spouse order, let me explain.

I do not have to tell anyone out there who has a 401K retirement account that the stock market is in the tank. I think I have lost 30 to 40 percent of my money in the past 6 months. I do not look at my statements for fear that I will get depressed, angry, or both. It will probably take a long time for me just to break even again. If you are a coin collector, I do not have to tell you that the price of gold is sharply rising either. The UHR I purchased on Jan 22 for $1189.00 now sells for $1339.00, $150 more than my order one month ago on Jan 22. If I continue to work and earn a decent salary in this current economy, I see a GOLDEN opportunity. Where else can I invest in a rising commodity and fuel my passion to collect coins at the same time during a poor economy? Now to be fair I do not buy coins primarily as an investment. I buy them for the enjoyment they bring me as a hobbyist. Unless I need to liquidate them to survive, I have no intention to sell them. Therefore, I will never realize a profit. With that said it feels nice to have my coins appreciate. If only I could move the money from my 401K to gold coins, but then again, how could I retire if I am not willing to sell? No, my strategy is to give investing in the stock market a break and take the extra money I earn and buy gold coins.

Now, since my UHR order supposedly moved to April 24, and I did not have that charge on my credit card for the next billing cycle, I purchased the coins yesterday for $629 each. With the mint?s new pricing guidelines in place, the same coins listed today for $654 each, saving me $50! Generally, though, when I take a course of action based on incorrect information, things do not usually turn out well. Before I make a decision based on Collector?s Society journals, I need to verify the content of the journal, even though I believe them to be well intentioned. I still may be in trouble though, if the mint ships my UHR before the first week in March, I will see both charges on my credit card. I will have to deal with that when and if the time comes. For now ?davidricher?, if you are out there, thank you, because of your journal entry, I will get a better deal on two fine coins!

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