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joeytiger 
LSU Fan
Denham Springs
Member since Jul 2012
1332 posts
| re: Buying actual gold (Posted on 3/6/13 at 7:32 pm to Vols&Shaft83)
Just read some more, some guy creates a fictional currency that is not back by any tangible asset and people are doing this? Seems pretty volatile to me.
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Vols&Shaft83 
Tennessee Fan
Member since Dec 2012
3281 posts
| re: Buying actual gold (Posted on 3/6/13 at 7:33 pm to kiwitiger)
quote:
Joeytiger Warren Buffett is no genius, he is politically connected. Of course he's going to encourage you and I to play in his casino. We are sheep to be sheared. He and the politicians don't care about you, your wife, or kids. You wouldn't take advice from your enemy, would you?
I heard he framed Lee Harvey Oswald, killed 5 hookers in Nebraska, and clubs baby seals
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kiwitiger
LSU Fan
New Zealand
Member since Jul 2011
9 posts
| re: Buying actual gold (Posted on 3/6/13 at 7:33 pm to Vols&Shaft83)
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vols&shaft
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I really don't know anything about bitcoins. Wouldn't invest in something I don't understand. I wish them luck though as far as an alternative currency. I posted a couple of times yesterday and judging from some comments I think it was incorrectly assumed I was pushing them or was another poster.
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
3281 posts
| re: Buying actual gold (Posted on 3/6/13 at 7:37 pm to kiwitiger)
quote:
I really don't know anything about bitcoins. Wouldn't invest in something I don't understand. I wish them luck though as far as an alternative currency. I posted a couple of times yesterday and judging from some comments I think it was incorrectly assumed I was pushing them or was another poster.
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AUtigerNOLA 
Auburn Fan
New Orleans, LA
Member since Apr 2011
5127 posts
| re: Buying actual gold (Posted on 3/6/13 at 7:49 pm to Vols&Shaft83)
Its serious business, this bitcoin stuff.
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foshizzle
LSU Fan
Member since Mar 2008
25135 posts
 Online
| re: Buying actual gold (Posted on 3/6/13 at 7:50 pm to kiwitiger)
quote:
"[W]hen you recall that one of the first moves by Lenin, Mussolini and Hitler was to outlaw individual ownership of gold, you begin to sense that there may be some connection between money, redeemable in gold, and the rare prize known as human liberty...
Of course, this is a red herring.
quote:
"The subject of a Hitler or a Stalin is a serf by the mere fact that his money can be called in and depreciated at the whim of his rulers.
Irrelevant provided you can store your assets in other things besides money. Like real estate, stocks, etc. Currency is mostly used simply as a unit of exchange, nobody stores their assets in cash except for hoarders.
quote:
That actually happened in Russia a few months ago, when the Russian people, holding cash, had to turn it in -- 10 old rubles and receive back one new ruble.
Also irrelevant. The problem most Russians had was that they couldn't legally store savings in anything other than the ruble.
If you have the ability to invest your savings in things other than money (and a defined benefit pension is a money investment, unfortunately) then you don't need to worry about currency devaluations nearly so much. Don't trust the US government? Fine ... invest in the stock exchanges of thirty other countries instead. Still better than gold.
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Fat Bastard 
New Orleans Saints Fan
Paradise
Member since Mar 2009
13493 posts
| re: Buying actual gold (Posted on 3/6/13 at 8:26 pm to joeytiger)
Trade ETF's or Futures if you want to mess with GOLD.
physical? meh.
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LSURussian
LSU Fan
Baton Rouge
Member since Feb 2005
63211 posts
| re: Buying actual gold (Posted on 3/6/13 at 8:59 pm to joeytiger)
quote:
but I see all these commercials about purchasing physical tangible precious metals
There's a reason you're seeing that. They are not taking a loss when they sell you gold.
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geaux strong
LSU Fan
BR
Member since Aug 2011
10 posts
| re: Buying actual gold (Posted on 3/6/13 at 9:20 pm to joeytiger)
GLD or you can buy a gold miner like ABX (pays a dividend)
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Zilla
LSU Fan
Friendswood, TX
Member since Jul 2005
9561 posts
| re: Buying actual gold (Posted on 3/6/13 at 9:46 pm to joeytiger)
unique topic that has never been discussed, looking forward to the responses 
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LSU6262
LSU Fan
Member since Jun 2008
2001 posts
| re: Buying actual gold (Posted on 3/6/13 at 10:55 pm to joeytiger)
quote:
I'm already contributing the max to my Roth, what should I do with the extra money each month?
is your emergency savings fully loaded? do you have a 401k? is it maxed out?
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matthew25 
Ole Miss Fan
Member since Jun 2012
1529 posts
| re: Buying actual gold (Posted on 3/7/13 at 3:13 am to LSU6262)
I don't see anything wrong with holding a little, physical gold and silver as a novelty and spec buy. It will take a year for him to buy 4 oz. of gold.
Look at a roll of Morgan silver dollars on ebay. 20 different mint marks. Pass 'em down to the chillen.
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fishfighter
LSU Fan
Baton Rouge
Member since Apr 2008
11210 posts
| re: Buying actual gold (Posted on 3/7/13 at 3:30 am to matthew25)
quote:
I don't see anything wrong with holding a little, physical gold and silver as a novelty and spec buy. It will take a year for him to buy 4 oz. of gold. Look at a roll of Morgan silver dollars on ebay. 20 different mint marks. Pass 'em down to the chillen.
This. Over the years I bought coins in gold and silver. And yes, I will be passing them on. I bought them when gold was running around $500 an oz and silver around $18 and oz. Besides that, My Mom and Dad passed some down to me.
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
3281 posts
| re: Buying actual gold (Posted on 3/7/13 at 6:27 am to LSURussian)
quote:
There's a reason you're seeing that. They are not taking a loss when they sell you gold.
But I saw a commercial for it, it must be a good investment 
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Meauxjeaux 
Memphis Fan
I have 91k posts with all my alters
Member since Jun 2005
13038 posts
| re: Buying actual gold (Posted on 3/7/13 at 9:34 am to joeytiger)
Call this company. Very good people own it.
Southern Coin and PM
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ItNeverRains
LSU Fan
Franklin, TN
Member since Oct 2007
4607 posts
| re: Buying actual gold (Posted on 3/7/13 at 9:41 am to Meauxjeaux)
Not yet, stick with the hot hand. There will be a buying opportu ory for gold/silver soon.
Disclaimer: I never get in/out at the very top/bottom
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
3281 posts
| re: Buying actual gold (Posted on 3/7/13 at 9:57 am to ItNeverRains)
quote:
Not yet, stick with the hot hand. There will be a buying opportunity for gold/silver soon.
It's a pretty obvious bubble, imo
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white perch
LSU Fan
the bright, happy side of hell
Member since Apr 2012
1865 posts
| re: Buying actual gold (Posted on 3/7/13 at 10:47 am to Vols&Shaft83)
quote:
It's a pretty obvious bubble, imo
but wouldn't this be a money making opportunity? wait until it pops, buy some at a lower price, and wait for it to rise again.
I'm not an investor, just a casual observer, so feel free to tell me if i'm wrong.
And I don't plan on buying gold when the bubble pops.
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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
3281 posts
| re: Buying actual gold (Posted on 3/7/13 at 11:00 am to white perch)
quote:
but wouldn't this be a money making opportunity? wait until it pops, buy some at a lower price, and wait for it to rise again.
Yeah technically it'll be a buying opportunity, but I doubt that I would buy any even then. I'm not a Gold Bug
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Meauxjeaux
Memphis Fan
I have 91k posts with all my alters
Member since Jun 2005
13038 posts
| re: Buying actual gold (Posted on 3/7/13 at 1:17 pm to Vols&Shaft83)
If one buys some gold and silver coins from time to time as part of their financial strategy, are they automatically entered into Gold Bug status?
This post was edited on 3/7 at 1:18 pm
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