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Anyone ever bought any gold?

Posted on 1/10/16 at 10:24 pm
Posted by samson73103
Krypton
Member since Nov 2008
8146 posts
Posted on 1/10/16 at 10:24 pm
Pros and Cons?
Posted by Omada
Member since Jun 2015
695 posts
Posted on 1/10/16 at 10:39 pm to
If you buy the physical stuff, I believe you'll pay a premium to the spot price and you'll have to figure out where to securely store it. There are some gold and silver ETF's out there, however, that follow the price of the underlying metal minus the fund's fees.

But why buy physical or ETF gold now? As the dollar becomes stronger, particularly when interest rates are raised again this year (up to 4 times!), your gold will lose significant value. You'd be better off just holding the cash.
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 1/11/16 at 8:42 am to
quote:

Anyone ever bought any gold?
Only collectible gold coins, not for their gold content but for their numismatic value.

I only own gold coins which were minted in New Orleans, which increases their collector's appeal.
Posted by LSU0358
Member since Jan 2005
7918 posts
Posted on 1/11/16 at 11:08 am to
quote:

I only own gold coins which were minted in New Orleans


No Carson City? Have to step your game up.
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 1/11/16 at 12:24 pm to
quote:

Have to step your game up.
I have numerous silver CC dimes, quarters, half dollars and dollars but no gold. You?
Posted by LSU0358
Member since Jan 2005
7918 posts
Posted on 1/11/16 at 12:36 pm to
Same...I have some silver Morgan's. The few gold CC's I've come across where too pricey for me.
Posted by samson73103
Krypton
Member since Nov 2008
8146 posts
Posted on 1/12/16 at 4:37 pm to
Thanks for the info. Always been told that gold was a good offset against inflation and my mutual funds are worth less every quarter it seems. Also thought if these terrorists every take out our grid that having gold would be valuable.
Posted by LSURussian
Member since Feb 2005
126962 posts
Posted on 1/12/16 at 5:26 pm to
quote:

Always been told that gold was a good offset against inflation
By gold salesmen?

Gold historically is a terrible inflation hedge. Over any 10 year period except 2000-2010 (I believe that's the decade, it's been a while since I looked at it) gold has not kept up with inflation.
Posted by Omada
Member since Jun 2015
695 posts
Posted on 1/12/16 at 8:41 pm to
quote:

gold was a good offset against inflation
Whether that is true or not is irrelevant right now because we have been facing a lack of inflation lately. Deflation seems like more of a threat than inflation right now.
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