Comments for JHB Coin Exchange

Comment on Thought 20111024 – Crash or No, Inflation vs Deflation by Susanna

Susanna — Thu, 15 Dec 2011 13:14:28 +0000

Hi Eelco,
Do you think the Euro wil continue on its upward value to the Rand, or will the Euro not last much longer? My son is getting paid in Euros overseas and it is deposited into his bank here (and exchanged into Rands).
Do you think it would be better to invest in Gold Krugerrands?
LSB

Comment on Welcome to Eelco’s Blog by eelco

eelco — Wed, 14 Dec 2011 15:48:25 +0000

Hi Trevor.
As I always say, no guarantees.
Gold is typically stong leading into Sept-March. However, due to the dramatic 3 year rise, it was overbougth and the correction has now set in. As mentioned before, I expect Gold to correct 38.2% of the entire rise, which would take it down to $1450 odd. However, the 200 Day moving average could keep it higher. This correction could carry on until June/July. However remember that those are the sentiments for the US $ Gold price. The Rand Gold price is entirely another story as I expect the Rand to weaken to R/$ 9.50 in the next few months and then, after a consolidation it will probably weaken further to R/$ 10.50 by mid year. Therefore, while the $ Gold price declines or moves sideways, the Rand Gold price could easily rise.
Regards.
Eelco.

Comment on Welcome to Eelco’s Blog by Trevor

Trevor — Wed, 14 Dec 2011 14:21:40 +0000

Hi Eelco, it appears that the Gold has not risen in the last quarter. We were expecting a higher price.

Comment on Does US Want Markets To Crash? by eelco

eelco — Mon, 12 Dec 2011 18:57:00 +0000

Hi Ilze.
In my opinion a Proof KR is for tourists and gifts. The mintages are too high to make them rare – see the Valuing Coins report on our website. Therefore, I treat them as bullion coins and we do not trade them at a premium. I would buy ordinary Kruger coins for investment. The Mint sells proof KRs at a considerably higher price than dealers charge for bullion KRs, but dealers do not pay a premium when you try to sell them. We sell Proof Krugerrands for R100 more than bullion KRs – just because they are prettier.
Hope that answers your question.
Regards.
Eelco.

Comment on Welcome to Eelco’s Blog by eelco

eelco — Mon, 12 Dec 2011 18:50:19 +0000

Sorry for delay, but I was abroad, my computer was stolen and it took me a while to get back, get a new computer and get e-mail active again.
Regards
Eelco

Comment on Welcome to Eelco’s Blog by eelco

eelco — Mon, 12 Dec 2011 18:49:22 +0000

Hi Jon,
Tricky question. Essentially all the currencies are being trashed as there is no sign that the excessive printing will let up, which is why it is difficult to measure the relative weakness of one currency compared with another. This is also why Gold is rising in all currencies. While I am not a qualified investment advisor, I think one has to take a longer term view and hedge against all currency weakness. i.e. Go for Gold. The $/Rand just broke long term resistance turned support in the 8.25 vicinity and stayed above that level for at least 3 days. Despite the recent expected correction down to the lower 8.10′s, this implies a move to 9.50 is on the cards within the next few weeks. This is likely to be followed by a consolidation and then a move to $/R 10.50 during 2012.
Bottom line, I do not think Krugerrands are overpriced and the price could head North soon – No guarantees.
I think in the longer term the Euro is likely to be stronger than the Dollar, as the US is in greater debt than the EU.
I think few currencies are strong at present. The Singapore Dollar, followed by the Swiss Franc, followed by the Chilean Peso, followed by the Canadian Dollar?
Regards.
Eelco.

Comment on Does US Want Markets To Crash? by Ilze

Ilze — Sat, 10 Dec 2011 07:33:38 +0000

What is the difference between a proof coin and a ordinary bullion coin?
If I were to buy a Kruger rand today, would it be a coin minted in 2011 or not necessarily?

Thank you.

Comment on Welcome to Eelco’s Blog by Jon Wanderbok

Jon Wanderbok — Sat, 10 Dec 2011 05:20:23 +0000

anybody there?
on xmas leave eelco?

Comment on Welcome to Eelco’s Blog by Jon Wanderbok

Jon Wanderbok — Sat, 03 Dec 2011 05:54:06 +0000

Hi,
would you advise moving savings in Euro to gold at this time? I find KRs overpriced at present as I bought mine at well below the $1000 level. But the mediterranian countries have messed up the stability of the €uro so I’m worried about those savings, which were supposed to see me thru retirement and are earning minimal interest at the moment. On the other hand here in SA we get most of our financial info from US or brit sources, which have always been Euro pessimists.
Thanks,
Jon

Comment on Does US Want Markets To Crash? by eelco

eelco — Sat, 19 Nov 2011 19:48:52 +0000

Jairos.
There are no guarantees in life. If you read Modern Fraud Money Explained on Why Gold is Rising tab, you would understand.
Gold is only good when they are printing money. Money is currently bad as they are printing it.
Regards
Eelco