Gold is at a recent low

[mold maker]

For those that care about such things. Gold is at $1177.90. If you have extra dollars that are worth less every day, it's a good time to invest in your future.

[osteodoc08]

Thanks for the heads up. As a gold investing noobee, how does one purchase gold at that price? Or in general as far as for investing purposes as opposed to buying it off someone in the form of jewelry/coins/etc. in other words, where do you go to buy bullion.

[bangerjim]

The best way to buy gold is pre 1934 US coins and NOT bullion. Sale is not reportable and coins are not confiscatable....it that ever happened again!

You will pay more than spot bullion, but old US coins (I like $20 St. Gaudens gold pieces!) are cool.

You have to buy it thru a broker. Find on locally for easy transactions and you walk out the door with your gold rather than waiting 2-3 weeks as with all the TV gold mongers.

At least coins have a face value, are certified/rated, and can be easily traded. Bullion is not certified and cannot be easily traded.

[dragon813gt]

I'm w/ Jim on buying coins. I buy Silver Eagles. You know the exact weight and content of a coin. Not so much w/ bullion. Nothing prevents someone from "shaving" bars. Dealers will always buy coins and they carry a premium.

[snowwolfe]

I would rather buy land or another rifle or handgun than some tiny piece of metal.

[bangerjim]

I would rather buy land or another rifle or handgun than some tiny piece of metal.

You need ALL of the above! That "tiny piece of metal" may feed your family someday, as could a gun.

A well-rounded investment portfolio should contain at least 10-15% if it's overall value in gold and silver.

Buy all the land and guns you want, but have some precious metals stock-piled also. Not bullion...coins! Lead does NOT count as a precious metal....sorry.

bangerjim

[GaryN]

These guys aren't too bad.

http://www.providentmetals.com/bulli...s-slv/ase.html

[seaboltm]

I use goldeneaglecoin.com. Very professional. Gold and silver prices are "spot". You will pay more for bullion, and even more for coin. There is no way to buy gold or silver for the actual spot price. Well, unless you have a bunch of cash. If you buy $25,000 worth of gold coins, you can get pretty close to spot, but you will still pay over spot. For silver, $5000 or more is your best value as far as spot price. I am in neither category, so I like silver. A 10 oz sealed silver bar is a good value, easy to move. 90% silver coins are also a safe bet.

[nvbirdman]

I am always amused at the commercials on the radio telling me that gold is about to skyrocket in price and I should buy it now. If they really thought gold was going to skyrocket, they'd be buying as much as they could, not trying to sell it to me.

[bearcove]

Gold was recently at 300. And for a long time. If you buy remember its value is now based on how popular it is as a hedge against currencies.

[bangerjim]

Gold has not bee 300 for a very VERY long time!!!!!!!! Waaaaaay back in 2001.

6-1-05 price was $436.50

Then on 7-1-10, it shot up to $1309.20! And has not come down to tripple digits since.

On 8-1-11 it hit a all-time high of $1,907.20.

The price today is a record low, only beat by $1,168.50 back on 11-1-14.

I am in the gold market extensively and track it closely.

Now is the time to buy at $1,177.90 (spot) if you want. ( YOU will NOT buy it at that price!) It may go up a lot. It may not. My crystal ball is broken at the present time.

Best thing is buy it when you have the money (a lot of it) and you feel the time is right. And plan on holding it for a looooong time. Gold is something most individual investors do not day trade with!!!!!

banger

[Hogtamer]

Mold Maker, read this very carefully and think it through....http://en.m.wikipedia.org/wiki/Junk_silver
I believe this will be the undergound currency of the future. In fact, anything I sell I will gladly take payment in pre-1964 silver coins and give you a discount. If gold rises or falls, so will silver.
Cash is highly suspect as a store of value. One of the arguments against owning silver in the past is that you could not earn a return on it. See what the bank wants to pay you on a CD now! In fact I believe cash will be phased out as legal tender as governments want to tax every $ we earn and track every $ we spend. There will be another financial crisis that will enable the govvie to provide cover for all-electronic (plastic) money. That will make those old silver dimes and quarters the ideal "underground" currency. Unlike fiat paper money, 90% silver coins will always be 90% silver, valued of course by the price of silver. I you believe like I do, look around for an old reputable local dealer and do business with them. You give them cash (a diminishing asset) and they give you silver (probably an increasing asset) in easily handled and stored form.

[MaryB]

www.apmex.com is one of the lower priced dealers with a very good reputation I have bough 90% US silver form http://www.gainesvillecoins.com/ I like mercury dimes myself... each one is worth $1.15 right now.

[bangerjim]

If you are into silver, pre 64 is the way to go. I bought several bags of the stuff years ago and it is now worth more than those new pure bullion coins and is only 90% silver! And that does not even account for the numismatic values!

Silver is very affordable if funds happen to be limited. You can buy a lot of older Kennedy's (non sandwich) or Standing Liberty's half dollars for $1,177! And if push comes to shove, they are always worth 50 cents face value!!!!!!!

[bearcove]

metals run inverse to the economy, the economy is turning, beware. hopefully this boom will take off. if it does gold and silver will drop.

[MaryB]

Economy is NOT turning! Wall Street is NOT the economy! We have a record number on food stamps, number out of the work force(but able to work) is at Great Depression levels... good manufacturing jobs are mostly gone... part time minimum wage jobs do not replace well paying jobs.

[bearcove]

I work as a pipefitter/welder its the start of a boom. Jobs all over the place. I got tired of working out of town came home 3 days later working at home on overtime.

Lot of guys left here to chase money. $35/hr $100+ a day per diem 6 10s to 7 12s not min wage.

[Buck Neck It]

Trust in steel, Conan. Only in steel.

[MaryB]

Forgot to mention, gold and silver are both below average production cost right now, quite a few mines idled. Chinese, Russians, Indians buying as much gold as they can get their hands on. Market is being capped and manipulated by the paper market(etf's) where they are selling 100 ounces of paper gold or silver to 1 ounce held in the vault!

[MtGun44]

In the long run, a pretty bad investment. Looked long and hard at it, mediocre
returns and high risk. If you invested $10,000 in gold in 2007, at $600 an
ounce. That is $16.667 ounces of gold. Today, at about $1180 you
have roughly doubled your money, to $19,666. That is 8 years. Not terrible,
but can be nearly matched with guaranteed investments.

I have annuities which guarantee 6% per year for 10 years, which will also
be just short of double my money - AT minimum. If the market exceeds
6% in any one year, I get the market return, locked in each year,
with a guarantee of 6% above that lock for the following year. About
90% certain to exceed 100% growth in 10 years, guaranteed.

I have made far more investing conservatively in good mutual funds
and now some good annuities.

I'm not going to convince the folks that insist that the dollar will collapse
any minute now -- of course, it is at the highest it has been in recent
memory now. Euro collapse, maybe, dollar? Not any time soon.

I have had experts telling me that paper money would become worthless
"any day now" since I was 18 years old and now about 45 years later,
paper money is still worth something - although certainly inflated a good
bit.

To each his own methods, I have resisted gold this long, probably going
to continue to cover my retirement nicely with conservative investing
strategies.