Ironically, Seth and Craig, Mr. Buffet’s opinion on gold notwithstanding, even if gold doesn’t earn the kind of return that he ordinarily prefers from his investments it is still money in and of itself, something which can’t be said about artificially scarce diamonds, a fantasy conjured up by De Beers for the American market.

To be fair, Anon, I suppose one has to take into account the current extremely high inflation rate when judging how accurate and fair the Mint’s price increases are.

If you use the higher estimate of the number of attorneys in our country then that makes for one lawyer for every 236 people in the U.S. population, Craig. Perhaps too many is enough.

Every year, East Coast Guru, I watch Warren Buffett and Charlie Munger hold court at Berkshire Hathaway’s annual meeting and I never come away without having learned something.

Seth and Craig,
In a way The Oracle Of Omaha is right. Gold doesn’t in and of itself generate any profits; it relies entirely on external circumstances to improve its relative financial (value) position.

It is because the premiums the USM is charging on this year’s Plat Eagle to AP’s in much higher than it has ever been, which is why you see retail prices so high. No one wants that sort of premium risk on their books, and highly unlikely they’ll sell through even 1/4 of the planned mintage.

That makes more sense, Kaiser, but I’d still rather have my money earning a healthy interest rate in this chaotic economic environment we’re in. BTW Kaiser, I liked your idea regarding all of those lawyers. I’ve been saying we’re overrun with lawyers for years. We do need some, but 1.3 -1.4 million lawyers?

I thought back in the last century, Buffett bought a huge position in silver and then sold shortly thereafter. It’s been awhile so it might have been someone else.

Craig & Kaiser,

It is interesting to note that one of the wealthiest men in the world, Warren Buffet, says he does not own gold except his wedding ring!
He has consistently said, “Gold is dead money – it does not bring interest or dividends.”

NumisdudeTX