In August, 2011 I closed out a small Stock account and purchased 3 gold coins. I had been advised that the stock market was going down drastically and gold was going up in proportion. The “experts” predicted a rise to $2000 per ounce by the end of 2012. That sounded like pretty good advice. The price of gold has steadily gone up since the price was held at $35 per ounce.
I was able to purchase 3 gold coins, ¼ ounce each, for a total of $1,556.25. Each coin cost $518.75. I figured that the price of gold would have to reach $2,075 per ounce for me to break even. It is now nearly the end of 2012 and the price of gold today is $1,694 per ounce. It goes up a little and down a little every day. The highest it has been was in September of 2011 at $1,890. The lowest it has been was $1,539 in May, 2012. At today’s price I have lost $285.75. So much for the experts. I should have kept the money in the stock market. I am not planning to sell these coins. They will be gifts to my 3 children after my death. But I believed the “experts”.