Is this a good gold strategy?greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
I saw an ad on TV this morning that Monex (www.monex.com) is marketing a Canadian gold coin, the Mountie, on which the Canadian gov't is guaranteeing to repurchase anytime prior to the year 2000 for $310.00. Today's price is listed at $326.90. This could be a way to make an investment in gold with a floor under the risk for the next 15 months. Would this be a good strategy for buying gold?
-- Dan Hunt (firstname.lastname@example.org), October 02, 1998
Sounds like a good thing to me. I'd like to know if the guarantee is in C$ or US$. Right now it takes about C$1.50 to buy US$1!
-- Tricia the Canuck (email@example.com), October 03, 1998.
The mountie trades at a premium to normal bullion gold coins such as the american eagle, sounds like a bad move to me, but if you like insurance, you may want to go this way. Of course it assumes the value of the dollar and the canadian government are relativley stable to insure your purchase...
-- Brad Waddell (firstname.lastname@example.org), October 04, 1998.
Tricia, the guarantee is in U.S. dollars. ...
-- Dan Hunt (email@example.com), October 04, 1998.