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prices dont change , its only the value of the dollar that changes. like i said one ounce of gold today still buys pretty much the same basket of goods it did 100 years ago. the basket of goods is still valued the same. it takes more dollars or yen or euro's to buy that same basket .
You need to study the gold charts where you will find
gold gains and looses value just like the stock market.
In 2000 gold was at about $300 an ounce.
In about 2010 - 2011 the same gold rose to
about 1900 dollars an ounce time to sell.
Then it fell between $1500 - $1600 in 2012 and people
have lost about $300+ dollars and ounce, and it could fall lower
and investers could lose more $$$.
.
Actually no it isn't. An 1862 dollar in in the worst possible condition is worth about $429 in today's money, The same dollar coin in mint condition is worth around $60,000 in today's dollars. This is of course an extreme example. But my basic point is money made in the past is more value than money made today. I guess in terms of value, The last minted silver coin (90% silver) was the Kennedy half dollar, two half dollars would be worth $20.74 in melt value as of June 15th, 2012. Hell pennies are not even made of copper anymore, they are made of zinc and coated in copper.
I am Not talking about old coin and dollar values for collections
or there metal content value.
.
Honestly... I'm sorry to point out that in your 63 years, you have not properly grasped basic economics. First, there is a difference between nominal value and real value. What you're referring to is the nominal or face value of currency, which does not change.
Read everyone of the posts in this thread that I have started,
and you will never read where I ever said anything different,
or what it would buy, but most of the posters here act
as if I did because they are not really paying attention to what
I have said from the beginning.
So they call me a troll.
I believe we know who are the problem makers here ! ! !
Not speaking of you ! ! !
Quote:
Originally Posted by ambient
Have you ever heard of the concept of "inflation?"
If you're 63, you should remember some of this personally.
Sure I have and I understand it too.
In 1970 I had 3 children and my wife to feed ( totaling 5 all together ) and
We could go the store and fill a cart full of good food every week for $20.00
But to do it today it costs over $100.00/
But that is not the value I was talking about as the OP from the beginning ! ! ! ...
.
You need to study the gold charts where you will find
gold gains and looses value just like the stock market.
In 2000 gold was at about $300 an ounce.
In about 2010 - 2011 the same gold rose to
about 1900 dollars an ounce time to sell.
Then it fell between $1500 - $1600 in 2012 and people
have lost about $300+ dollars and ounce, and it could fall lower
and investers could lose more $$$.
.
yes gold fluctuates but it does so againast the dollar and other currencies. while gold fluctuates so does what it buys and inflation changes. . its not an exact match but think about the fact you could have bought a good mans suit and a good pair of shoes for an ounce of gold 100 years ago.
know what you can get today with that same ounce of gold? a mans suit and a good pair of shoes .
your example about gold fluctuating is because its fluctuating against the dollar . the dollar is the variable.
for the most part when looking at a basket of goods its still in the ball park today. its certainly alot closer to buying those goods than any currency is.
You need to study the gold charts where you will find
gold gains and looses value just like the stock market.
Quote:
Originally Posted by bumpus7
I am Not talking about old coin and dollar values for collections
or there metal content value.
Quote:
Originally Posted by bumpus7
Read everyone of the posts in this thread that I have started,
and you will never read where I ever said anything different,
or what it would buy, but most of the posters here act
as if I did because they are not really paying attention to what
I have said from the beginning.
Quote:
Originally Posted by bumpus7
Your right ! ! !
.
Quote:
Originally Posted by bumpus7
.
The problem is to many people don't read carefully and miss read
and get confused and then they say thing the OP never said or implied.
Learn to read and understand what is really
being said and you will get it strait.
And then there will not be all the name calling ! ! !
You should not criticize a person's reading ability until such time as you learn to write correctly.
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