So the 2023 coins from the U.S Mentor Finally here and we're going to go into Everything that's changed for gold Buffaloes in 2023 and then we're going To talk a little bit about buying on a Price run what's changed on the Buffalo Is the date it now reads 2023. so who's Ready for the next part A month ago price of gold was bouncing Around 1783 and that's a specific number That I was watching just out of Comedy Because it was the exact prediction that I'd made for the ending price of gold in 2022. now today we're seeing gold Trading above 1900 and that's a gain of More than seven percent in 30 days so if You're wondering if you've missed your Opportunity to buy gold in the 1700s Well I can't tell you your guess is probably As good as mine unless you're an analyst Which case it'll be better but what I've Seen over the past 15 years or so is That there are always pullbacks always Corrections We'll get into this more in a minute but I will say that I'm going to wait for Price consolidation before I buy my next Buy but I also play some pre-orders in December it's taking care of the itchy Trigger finger for a while the current Run though it's not going to stop me From continuing to buy so we're going to Look at two questions in this one is it
Too late to buy and should we keep Dollar cost averaging on the way up as Far as I'm concerned the first question It's pretty easy it's just never too Late to buy now hopefully we're being Smart about it not getting sucked in at The top of the runs but the price of Gold it's going to continue to fluctuate Up and down it's going to do that this Year it will still be doing that 15 Years from now My reason for buying it's not to turn Quarters into Dollars 50s into hundreds I'm not looking to trade out and grab Gains it's to build an asset class up Over decades so if I buy an ounce of Gold for two thousand dollars in the Spot price of gold retreats to 17.83 Doesn't really phase me it will probably Be years before I consider selling that Gold now if it's different for you if You're going to feel like you lost money Anytime the price consolidates down well You probably shouldn't take the approach That I'm taking to a certain extent I'm In the get it forget it school of Thought this is not an investment to me It's an asset class that I look at like A savings account The second question of whether we should Be dollar cost averaging through this Well it's a little bit like the first I Can tell you what I'm doing and then you Can decide if you have similar
Motivations or not it's a little less Definitive though I will continue to Dollar cost average but when we get a Big swing like this more than seven Percent gain on spot in 30 days I slow Down I haven't made a normal purchase in January yet I'm not entirely sure that I Will but like I said I did make some Pre-orders in December they just started Showing up that's what you're seeing Here I also picked up a numismatic piece That hasn't shown up yet but all of Those purchases they were made at a Lower spot price and if we don't see a Consolidation down in price this month I Might not make another And normally I try to stick to a monthly Schedule and then I try to pick the best Time inside of that month to buy and if I see a big drop a drop that has been Happening over several months I might Buy more than normal that brings my Average cost down also gives me an easy Excuse to skip a purchase the following Month if price is shoot up but I do Still average in on longer price runs at Least that's what I've been doing over The years Now some people won't buy it all in a Run maybe they're the smart people I Know there are some who bought for years And years and then took 2020 and 2021 Off and I guess I did that in 2011
Through the later half of 2013 but that Was totally different time and place and Now because I sold some of that gold to Roll the capital into real estate I've Been a little bit more motivated to Build that back up to a certain amount That kept me buying in 2020 in 2021 when Gold was pushing all-time highs and I Wasn't even really that comfortable with The higher prices in fairness though Nobody knew what was going on at all in 2020. so there are reasons that I'll Continue to cost average even though it Might not make the gains look quite as Good but again That is not my primary goal in doing This in the first place now if you're Trying to keep your cost average low Maybe you should just sit out the runs Watch from the sidelines that's Certainly not a bad idea but generally Speaking if you simply buy consistently The rising price of gold over time does Get you ahead regardless and for all we Know sitting out right now could mean Missing out on a fun run on spot price That's probably more important than ever To buy right you don't want to get stung By crazy's premiums but maybe you could Even trade out of it take some gains if That's what you're looking for it's not What I'm looking for and just as a quick Reality check we should say premiums Rarely allow quick gains in physical
Holdings if you're looking for something Like that you're probably a lot better Off with gold equities in the stock Market not Financial advice And what does change for me when I'm Looking at averaging in on price runs is What I'm buying is prices continue to go Up I get a little bit more boring with What I'm shopping for all I want right Now are American Gold Eagles it's kind Of a weird thing because I've moved away From them over the last few years but as I look at what I'd want to have after Years of buying they're still at the top Of the list for me and now that the 2023 Stock is out I assume we can expect the Premiums to cool off I'm probably not kidding anyone though I Don't know how often I'll actually buy The Eagles this channel changes my Purchase decisions and it does get Really repetitive to have Eagles on Camera over and over so just to sum this Whole topic up I don't think that it's too late to buy I'm personally going to continue Averaging in even if it's pulling my Average cost up and the only thing that Changes for me is that I do get a little Bit more strict on the plan I watch for Spot price to retrace before I buy in a Month I shop for the dealers with Reasonable premiums and I stick to my Plan on what to buy at least that's what
I tell myself the next coin that shows Up in the mail the one I just bought That's going to prove some of that wrong I think that's it for this one so let us Know what you think of buying on a run Like this buying on the kind of run that We could see this here are you sitting Out are you staying in let us know and Then while you're in the comments be Sure to hit that like button if you Found any of this interesting be sure You're subscribed with notifications Turned on if you want to see more on the Topic And if you're still here thanks again For watching I always appreciate your Time Take care Thank you Foreign
