Gold and silver coin sales have been way up in 1998 and 1999. Here are the sales from 1992-1999 according to the US Mint http://www.usmint.gov/bullion/bullion.htm

(Totals are ounces sold)

1992 Gold - 385,800 oz

1993 Gold - 514,000 oz

1994 Gold - 310,000 oz

1995 Gold - 297,750 oz

1996 Gold - 275,000 oz

1997 Gold - 771,250 oz

1998 Gold - 1,839,500 oz

1999 (Through June) Gold - 1,239,500 oz

Oz of gold sold 1992-1997 2,553,800 oz Oz of gold sold in the past 18 months 3,079,000 oz Speculation anyone?

-- John Ainsworth (ainsje@cstone.net), July 07, 1999

Answers

Wow. And I thought I was getting carried away.

Maybe it's time to order some more....

-- where's (that@check.book), July 07, 1999.

I'll trade ya some after the new year! Just kidding.

Not sure what good gold will do ya if the banking and financial systems collapse.

-- Lead 4 Gold (fair@exchange.com), July 07, 1999.

The question is, where is your money safe? Is it safe in the stock market? Is it safe in the bank? Is it safe under your mattress?

I realize this is irrelevant if you don't have any money. But some of us do have a nice nest egg. I've heard folks say, "buy stuff," & I have bought stuff. But there's still money left over that I'd rather not see disappear, whatever happens next year.

Will cash be worth anything if TSHTF? If not, does that mean ALL our money will simply vanish?

Buying gold is simply a way to preserve your wealth from disappearing. If you can think of a better way -- I'm listening!

-- where's (that@check.book), July 07, 1999.

Gold has been a storage of wealth for 6000 years. If you understand Y2K and have connected the dots, now is a "golden" opportunity to move from paper assets based on nothing to something that has had intrinsic value for centuries and will continue to have value, for years to come. Y2K is the biggest unknown (except the date it happens) in human history. I see gold as the only thing that may wheather the storm if it is a category 5 global hurricane, or a Hamasaki, Milne or Infomagic scenario. If we get a Yourdon decade of depression I'll be happy.

It seems almost like a great power is driving this thing to a head, what with the DOW heading to unbelievable "irrational" highs and gold going to new lows, leadership that no one would take seriously even if they said Y2K was a problem and that the nation needed to prepare, but instead have chosen to not to do what is right. Clinton, a perfect man for our time, a time when the nation needs someone with the highest integrity and honor to speak the truth. How perfect that the DOW will be at record breaking levels just before the rollover.

Greed blinds many people to many things. Y2K is no exception. I have come to the conclusion that Y2K is not a random event. Does it not seem so perfect a way for the creator to "kick our butts" and put us in our place. We have made technology the "new golden calf." Technology for technology sake. Remember that scene in the Ten Commandments with Edward G. Robinson inciting the Jews to build a golden calf to worship. Such a trivial thing as a two date field, programmed into our technological infrastructure, a problem going unseen for so long by so many. Yes, there a few that spoke even in the 80's about the problem, but the warnings fell on deaf ears.

I have not a very religious person in the strict sense of the word. I am a big holiday Catholic, go to church on the "important dates." However, looking at Y2K, and how the problem has been overlooked or ignored for so long, all over the world, can this be a random problem? Anyone else given this some thought? I decided that one cannot approach Y2K from a secular viewpoint only, it is to big, too complex, affects too much, and went undetected too long, even to this day. I have a 24 inch high pile of primary research on all aspects of the Y2K problem. The PREPONDERANCE of the eveidence suggests that we are indeed living in historic times, humanity facing something never before in history. Just think about it for a moment. The implications are staggering if not disconcerting.

I didn't mean for this post to go for so long, but, stop and think, connect the dots, read Logic of Failure, consider what in your life does not involve a computer or embedded system somwhere. I can understand how most people just can't or won't beleive that Y2K has the POTENTIAL to create so much havoc for our lives. Again, no one knows what is going to happen, it is a question of risk management. I like Senator Bennetts quote, however, "the more people learn about Y2K the more frieghtened they become." So.... do what your gut tells you, prepare, buy gold, don't prepare, whatever, it is AN INDIVIDUAL CHOICE (for now anyway) based on principled decisions that each of us make. Pollies shouldn't Flame doomers and doomers shouldn't care what pollies think, unless of course things turn out bad InfoMagic and grasshoppers are knocking at your comfy little ant hill that you built, taking a finacial risk that it was all for naught, but, doomers will be very happy to stand up in front of everybody and gleefully shout to the heavans in thanks and praise that "I WAS WRONG!!!!!!!THANK GOD (or whoever/whatever you happen to worship or not worship)." Hoooray! What a waste of money! Off I go to the local food kitchen with my years worth of food, gladly which I give to charity in thanks that we have been spared (warned) the worst consequences of our arrogance.

As for the gold you bought, you'll just have to take it back to the coin broker and exchange it for Federal Reserve Notes. And try to forget about that 6 months worth of interest you lost.

Oh well.

-- MarktheFart (quke@ix.netcom.com), July 08, 1999.

Paper backed by a promise is not real money. Real money does not need backing.

-- A. Hambley (a.hambley@usa.net), July 08, 1999.

these numbers show a sudden increase, but as a total share of the gold produced each year they are tiny. 1 million ounces is about 30 tons. this is only about 1% of the total new gold mined each year.

on the other hand, it is a 400% increas over the average around 400,000 ounces/year. the mint will have trouble keeping up if it goes much higher.

the 1999 figure looks too small, I dont believe it. (unless we've really hit saturation already.

BTW: a 400 ounce silver ingot only costs $2000 or so. that's only about 15 shares of any of the big Stock.com's. At 25lbs it's kinda hard to run away with. They make GREAT door stops. The 100 oz bars are good for paper weights.

I think I'll have the local bronze guy cast me a set of roasting pans in solid silver.

-- binky (binky@binky.com), July 08, 1999.

I've got mine and I'll be going back for more shortly.

-- nothere nothere (notherethere@hotmail.com), July 08, 1999.