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Gold Questions
Posted on 3/3/09 at 7:19 pm
Posted on 3/3/09 at 7:19 pm
Is it too late to buy gold now?
Do most people buy coins and then just hold on to them until they want to cash out?
I'm sick and tired of watching the stock market. I did better by betting on football this year.
Any help would be appreciated.
PS What about silver???
Do most people buy coins and then just hold on to them until they want to cash out?
I'm sick and tired of watching the stock market. I did better by betting on football this year.
Any help would be appreciated.
PS What about silver???
2
Posted on 3/3/09 at 7:33 pm to Mr. Curious
Rivers is currently typing up a 5,000 word essay. 
To answer the one question I'm qualified to answer, reatively few people actually purchase and hold gold coins. The transaction costs involved in doing so are considerable.
To answer the one question I'm qualified to answer, reatively few people actually purchase and hold gold coins. The transaction costs involved in doing so are considerable.
Posted on 3/3/09 at 8:17 pm to Mr. Curious
it's not too late to buy Gold, but there is the potential that it may drop. most people buy etf's which imho is stupid - who want's paper gold? and if the shtf do you really expect someone to send you your gold somewhere down the road?
If you're going to buy, buy US Gold Coins. You can order them from most coin shops.... if they have them in stock (which they won't have many) it'll cost you about $30/coin to buy them at market price, which today is about $906/oz. If they have to order them, it will cost a little more than that to cover shipping.
If you're going to buy, buy US Gold Coins. You can order them from most coin shops.... if they have them in stock (which they won't have many) it'll cost you about $30/coin to buy them at market price, which today is about $906/oz. If they have to order them, it will cost a little more than that to cover shipping.
Posted on 3/3/09 at 8:18 pm to mytigger
Its never to late to buy gold, prices have gone down recently.
Posted on 3/3/09 at 8:46 pm to Tiger4
I would like some of you gold geeks to explain to me the attraction, other than the fact that there are enough gold geeks wanting to buy to keep the price stable. It seems to me that gold is just as abstract as any other form of "money" used for the exchange of goods and services. It's only tangible value is whatever someone else will give me for it. If I'm a landlord and you can't pay me in paper money, I'd rather take your chickens, whiskey, or women, than your gold bars (assuming the shite has hit the fan)
Posted on 3/3/09 at 8:47 pm to Cold Cous Cous
'Rivers is currently typing up a 5,000 word essay.'
Uh, I'll get back to you when the essay is finished...also still waiting for my crystal ball repair.
I buy gold all the time. No year has passed, and not many months, since the late 60s, that I have not bought some gold. When you get to retirement age you will have something to retire with. Gold never goes to zero, all fiat currencies eventually do.
This might sound like a retirement plan for a simpleton and maybe it is...but it's working for me.
Uh, I'll get back to you when the essay is finished...also still waiting for my crystal ball repair.
I buy gold all the time. No year has passed, and not many months, since the late 60s, that I have not bought some gold. When you get to retirement age you will have something to retire with. Gold never goes to zero, all fiat currencies eventually do.
This might sound like a retirement plan for a simpleton and maybe it is...but it's working for me.
Posted on 3/3/09 at 8:51 pm to ForeLSU
quote:This argument has been trhrashed and rethrashed. I agree with you 100% fwiw. In a WPC-style survival situation gold will be worthless.
I'd rather take your chickens, whiskey, or women, than your gold bars (assuming the shite has hit the fan)
Posted on 3/3/09 at 9:00 pm to Cold Cous Cous
I don't know what WPC stands for???
I have been collecting barter items for a long time. I have a house, garage, and another garage, full of stuff.
We also have enough weapons and ammo in this neighborhood to put down a minor South American revolt.
I have been collecting barter items for a long time. I have a house, garage, and another garage, full of stuff.
We also have enough weapons and ammo in this neighborhood to put down a minor South American revolt.
Posted on 3/3/09 at 9:01 pm to Cold Cous Cous
All I can do is give my opinoin.
Plus if food and water are worth more so much more that gold people cant use it, chances are if you dont have tank to take what you want you might be fricked anyway.
jmo
quote:Me form another thread. Id also like to add, to make a trade even you can use gold as something to do that, you can trade a pair of shoes for a cow, use gold to make a fair trade.
But if people are own willing to trade for gold, water, food then there is something speical about gold.
When it comes to trading with things that are worth something gold, food, water are expected as essential, before people traded with paper they traded with valueable metal.
Plus if food and water are worth more so much more that gold people cant use it, chances are if you dont have tank to take what you want you might be fricked anyway.
jmo
Posted on 3/3/09 at 9:07 pm to Tiger4
Well, I sort of took it for granted that most people that buy and hold gold also have some silver in various forms. I know that I do. In a barter situation 90% silver US Coins will be a lot more usefull than gold.
I do not expect the situation in the US to go that far downhill, but it might.
I do not expect the situation in the US to go that far downhill, but it might.
Posted on 3/3/09 at 9:11 pm to Cold Cous Cous
quote:
reatively few people actually purchase and hold gold coins. The transaction costs involved in doing so are considerable.
Why go to the trouble? If
are in our future, maybe, but if it's really that bad ammo and canned beans would do just as well. But unless one is seriously worried about institutional collapse, stick with regular stuff. It costs less to move in and out.
Posted on 3/3/09 at 9:16 pm to foshizzle
'But unless one is seriously worried about institutional collapse, stick with regular stuff. It costs less to move in and out.'
I don't move 'in and out'. I move in.
I don't move 'in and out'. I move in.
Posted on 3/3/09 at 9:17 pm to Rivers
quote:
Gold never goes to zero, all fiat currencies eventually do.
This is a false dichotomy. There are many other places besides just gold and bills to put one's earnings.
For example, it would be wonderful for most mortgage holders if the dollar were to go to hell in a handbasket over the next few years. Sure, your savings account would go to hell, but so would the balance on the mortgage.
Posted on 3/3/09 at 9:19 pm to Rivers
quote:
In a barter situation 90% silver US Coins will be a lot more usefull than gold.
In a barter situation canned goods and ammo will be a lot more useful than either.
Posted on 3/3/09 at 9:19 pm to foshizzle
'Gold never goes to zero, all fiat currencies eventually do.'
Since when is the truth a 'false dichotomy'? You sound like a guy that fell up a tree.
Since when is the truth a 'false dichotomy'? You sound like a guy that fell up a tree.
Posted on 3/3/09 at 9:26 pm to Rivers
'In a barter situation canned goods and ammo will be a lot more useful than either.'
You finally said something that I can agree with. I have a large store of anything that you can think to name and a hell of a lot of stuff that you would never think of.
You finally said something that I can agree with. I have a large store of anything that you can think to name and a hell of a lot of stuff that you would never think of.
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