$1130.70/oz T today. lowest since Aug "09. It's been falling for several weeks. Might be time to move some assets for long term hedge.
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Information not shared. is wasted.
IF you have extra funds, mighty big if, food and shelter comes first, it never hurts to have some gold or silver to hedge your bets. the big guy's are playing games and sooner or later gold and silver could pay your taxs.
More than 90% of the gold for sale is "paper gold."
China has a thriving business counterfeiting gold and silver coins. If you buy silver dollars on FleaBay, expect them to be a nickel alloy rather than silver with the correct dimensions and weight.
Be wary!
Buy from a reputable dealer, Apmex, Gainsville coins are 2 that come to mind. 90% silver dimes are not being counterfeited yet... I prefer 90% US silver coins for my collecting but I do have a few 1/10oz gold eagles also.
Take possession of whatever you buy! If you buy paper shares you will have just that when you want to cash out, paper. Paper that will have lost a lot of value. If you trust someone to store physical metals for you they may sell them out from under you leaving you holding the bag...
Last edited by MaryB; 07-18-2015 at 01:47 AM.
It's bad enough I have to endure those stupid gold commercials on TV, now I have to get irate because they're on here? Willy Weethervane and his multi-million dollar "Buy My Gold" commercials have me grabbing the remote to shut him off.
That other idiot says I have to have gold in my "PORTFOLIO." I grab my empty wallet to show that fool my portfolio.
I'd dearly love to have and hold one of those gold coins on those commercials, sadly I don't have a couple thousand bucks it would take to get ONE! I'd much rather have what that money could buy in guns.
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Heck, it's a lot more fun going out and finding it ! ...
It is much easier to fool people ,
than to convince them they have been fooled !
If you can read this , thank a teacher ...
If you can read this in English , .. thank a Vet !
Greetings
If you bought gold when it was $300 or less an ounce and did not play with them you did good.
If you bought a Winchester or Colt back the same time and did not play with them you did good.
Paper is good for just a few things I can think of. Read, draw on, start a fire and then the trip out back down the lonely path.
Mike in Peru
"Come unto Me, all you who labor and are heavy burdened, and I will give you rest." Matthew 11:28
Male Guanaco out in dry lakebed at 10,800 feet south of Arequipa.
Gold, gold, gold HMMMM I seem to recall I seen that stuff once when I put a ring of it on my Frau`s ring finger. People say to buy now and buy all you can get! I`m lucky I can pay the utilities each month and afford to buy a few groceries and all my meds let alone someone telling me to buy gold on a retirees pension.Robert
The "They" have manipulated the commodities markets and held gold/silver down. Long term I would love to sit on some gold and silver, but silver has been a bitter mistress for me for the past few years.
Invest in lead, the other precious metal. When the excrement hits the fan lead will be worth more than gold.
Proud member in the basket of deplorables.
I've got the itch, but don't got the scratch.
I buy pre 1934 $20 pieces from ONLY local reputable gold & coin dealer's .......never from evilbay or on-line. EVER!!!!!!!! They are officially ranked graded and sealed in a well marked plastic housing so the gold AND coin price is firmly established. They cost a lot more that spot, but have collectable as well as metal value.
Beware of fakes. And a bar or hunk of gold or silver is just a good door stop.
You need to do research. A LOT of it. Find a local reputable dealer. AND......you will NEVER EVER buy any gold at the spot market price you see on the financial tickers! If you do, it is probably fake stuff. Darned good fakes out there. Would fool most people.
Lead is a good niche investment....sort of.....for this relative small group of people. But the last time I tired I sure could not hold $20K of lead in my hands!!!
banger
How can they be the right dimensions and not come up short on weight, do you know the allow because nickel is much less dense than silver.Originally Posted by BrassMagnet
Tim
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I've been lucky enough to have used a tax return refund (my fault, I simply over paid my taxes) to buy from Lear Capital in quantities that got a bit of a volume price break. I bought silver bullion coins for spot + 1.5%. Not a great lot, but a few hundred ounces. At present I'm down 10% on my investment, but as everyone always says "it's only a loss on paper".
I didn't mean to upset anyone with a report on low price of gold. I totally understand some have a choice of gold or food, and I'd make the same choice.
There obviously are some here who can afford, and have some expensive guns. These same folks can afford a few pieces of gold. I couldn't afford it, but sacrificed in order to get a few pieces, just like several guns I didn't need.
Most who have wives, have done the same, to get a pretty rock, for SWMBO, and I'll bet it's set in a tiny gold band. Nothing wrong with that, but the price of that tiny rock is a very closely regulated commodity, controlled by a very small group. It's all controlled by big money, just like gold.
Right now the banks aren't giving squat on small investments. It's only my opinion, and definitely not a recommendation for those who can't afford it, but gold is trading at the lowest price in 7 years. Can you name anything else that can be bought at 7 yr old prices, with a very high probability of future added value, for eternity?
Have you ever heard of an anti gold movement. As a long term investment, would you rather hold and protect, $1133.70 (2.15 tons) of lead, or an oz of gold? If it doubled in price, which would you rather carry to sell?
Yes it is lots more fun to prospect, and find it for free. Twenty years ago there were few water ways in NC, SC, and Ga that hadn't had my foot prints. While I never struck it rich, I was almost always successful in the hunt. I have sold/traded gold for guns. I have had jewelry made from my gold, and with stones I found and faceted.
It isn't for everyone, but neither are guns. To each his own.
Information not shared. is wasted.
so I wonder how the people that bought when it was $1500 an oz. thinking that they had a hedge feel?
They feel like they lost money for the time being. That's why its not a get rich quick scheme.
Ask me how I feel about the 1 oz coins I bought at $421/oz, or the 5/8 oz nugget I found in Ga.
Information not shared. is wasted.
I would have advised them to NOT buy at that inflated price! But just like stocks, hold on to it, it will come back!
I bought most of my gold (and silver) at MUCH lower prices that even the "low" of today. But being in $20 St. Gaudens pre-1934 certified gold coins, it remains much more valuable than just a hunk of bullion. I do NOT recommend buying bullion, in any form (coins or bars). Same for silver. Remember......pre-1934 coinage is NOT confiscatable by the government and most dealers handle the transaction different than bullion. Even OLD solid silver half dollars are worth more than just bullion...ounce for ounce.
Buy what you can afford. DO NOT take a loan out to buy it!!!!!!!!!! Just do not look to "flip it" for a quick profit. The recommendation by financial experts is to have at least 10% of your total financial portfolio in precious metals.
banger
I should have invested in remington thunderbolts when they were on sale for 6.99/500...... just saying its all hindsight. ...woulda coulda shooda
I did, only I think they were $8.99. I'll let 'em go for a mere $89.99 + shipping. Wanna buy some?I didn't think so!
Regards, Woody
Take a kid along
Well I am old enough to remember when I went to bed on a Sat night and silver was about $40.00 per oz.
When the market opened Mon mourning spot was about $6.00 per oz.
35 years later and still holding strong at about $14.00.
As for precious gemstones who are you going to sell them to if and when SHTF?
99% of your jewelers are NOT GGs and do not know any, so how are you going to get a fair price.
About 20 years ago I interviewed for a job at a national jewelry chain.
The woman doing the interview was a V P and during her questioning I found out she had no real knowledge of gem stones gold or silver pricing etc.
No I did not get the job because I was "over qualified" and I was glad because a few years later their doors were closed for good.
WE WON. WE BEAT THE MACHINE. WE HAVE CCW NOW.
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