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Started By
Message
How does one actually buy gold?
Posted on 6/15/23 at 9:44 am
Posted on 6/15/23 at 9:44 am
I see people talk about it a lot. I'm still up in the air if it's actually a worthwhile investment - that's another point of interest - but I'm curious if people are buying actual pieces of gold to keep in their house?
Do you get coins or bricks or bars that in theory hold value well that you store in your home and can just resell at your leisure? Or are people buying gold backed securities?
Do you get coins or bricks or bars that in theory hold value well that you store in your home and can just resell at your leisure? Or are people buying gold backed securities?
8
Posted on 6/15/23 at 9:52 am to Thundercles
all of the above
Posted on 6/15/23 at 10:11 am to Thundercles
quote:
Do you get coins or bricks or bars that in theory hold value well that you store in your home and can just resell at your leisure? Or are people buying gold backed securities?
Depends why you’re doing it IMO.
If it’s for a doomsday shite hits the fan concern, you’ll want physical gold. If it’s just a portfolio component, ETFs are a better option IMO.
Whether you should own any gold exposure at all is a different story altogether.
Posted on 6/15/23 at 10:19 am to slackster
Is there even a point to owning gold? If our dollar collapses to that point, is anyone really going to go back to using gold?
Posted on 6/15/23 at 11:39 am to slackster
quote:ETF is pretty much the only way to go for me
ETFs are a better option IMO.
Posted on 6/15/23 at 12:15 pm to Thundercles
quote:
Is there even a point to owning gold? If our dollar collapses to that point, is anyone really going to go back to using gold?
Gold doesn't lose "value" if the dollar tanks. Gold would still be valuable. It has been an acceptable form of currency long before the dollar and will be long after.
Posted on 6/15/23 at 1:02 pm to Thundercles
How does one sell gold is my question?
Posted on 6/15/23 at 1:14 pm to OysterPoBoy
Had this same discussion with my wife. HUGE "IF" the dollar tanks, wouldn't ammo, food, medical supplies & liquor be worth more than gold? WTF are you going to do with a gold coin at that point?
Posted on 6/15/23 at 1:19 pm to prestigeworldwide
Yeah when I started poking into this throughout the day, I don't think I see the point of physical gold. Or even gold backed ETFs. Gold, just like the dollar, only have value because we perceive it as such.
Maybe 50 years ago when a big part of the world actually traded things for gold it would have made sense, but if the US declines to a point where the dollar has no meaning I can't see me walking up with a few dubloons to buy food I expect.
Maybe 50 years ago when a big part of the world actually traded things for gold it would have made sense, but if the US declines to a point where the dollar has no meaning I can't see me walking up with a few dubloons to buy food I expect.
Posted on 6/15/23 at 1:28 pm to Thundercles
YO can buy tokenized gold. Digital certificates that can be traded. Perth mint stores the gold for free. Google Perth Mint.
Posted on 6/15/23 at 2:52 pm to SaintsTiger
quote:
buy tokenized gold
FTX has some of those, right?
Posted on 6/15/23 at 3:01 pm to SaintsTiger
quote:
YO can buy tokenized gold. Digital certificates that can be traded. Perth mint stores the gold for free. Google Perth Mint.
I'd be curious if shite really hit the fan would Perth honor your token or tell you to frick off.
Posted on 6/15/23 at 3:29 pm to notsince98
quote:
Gold doesn't lose "value" if the dollar tanks. Gold would still be valuable. It has been an acceptable form of currency long before the dollar and will be long after.
Gold has been losing value each year for a long time..
Posted on 6/15/23 at 5:23 pm to Thundercles
Probably the worst investment/hedge I ever did. Have about 22 oz gold and 250 oz silver. Started buying around ‘07 and a through the years until about ‘18 with my lowest cost about $650 and priciest about $1700. All said and done, I’m under having my “investment “ in gold doubled till now. A bit closer, if not over on the silver.
For perspective, had I taken that capital amount and purchased Apple stock, between the dividends reinvested, splits, and capital appreciation, I’d be over $550k today. Or somewhere about 15x.
It makes me sick to my stomach thinking about it.
All of mine are in 1oz coins except for a 1oz gold bar. I have gold in US mint eagles, One or two krugerrands, and a Chinese Panda. Silver is mostly US eagles, Canadian maple leafs, and some commemorative crap that I got below spot.
DONT DO IT!!
For perspective, had I taken that capital amount and purchased Apple stock, between the dividends reinvested, splits, and capital appreciation, I’d be over $550k today. Or somewhere about 15x.
It makes me sick to my stomach thinking about it.
All of mine are in 1oz coins except for a 1oz gold bar. I have gold in US mint eagles, One or two krugerrands, and a Chinese Panda. Silver is mostly US eagles, Canadian maple leafs, and some commemorative crap that I got below spot.
DONT DO IT!!
Posted on 6/15/23 at 5:49 pm to MrSpock
quote:
I'd be curious if shite really hit the fan would Perth honor your token or tell you to frick off.
I mean it's backed by the Australian government. Safer than owning the commodity through the a random company.
Looks like tokens are being phased out. But you can still buy certificates that are tradable. Perth Minth Certificate Program
Posted on 6/15/23 at 5:52 pm to Dawgfanman
quote:
Gold has been losing value each year for a long time..
In the time of Caesar, a gold coin could buy you a pretty good suit. Today, a gold coin can still buy a pretty good suit.
Gold works more like a storehouse of value that let's you keep your purchasing power no matter how much cash is printed.
Posted on 6/15/23 at 6:49 pm to SaintsTiger
You can buy gold or silver at pawn shops, jewelery stores, coin stores, and online (check out APMEX).
Having said that the price you have to pay over spot has increased significantly compared to prior covid.
I do think Gold would be valuable in a collapse of society type situation. But you will probably also need a farm, be able to hunt, have supplies, know how to farm without modern tools, and be able to defend yourself if it comes to that. Seems like one ounce silver or gold pieces would be good.
I also think its a good idea to have diversity in assets and so having a small amount of metals isn't a bad idea.
Also, don't confuse numismatic value coins (coins minted that are valuable for rarity) with bullion.
And certainly don't buy these special edition minted coins with some celebs face on it that they mark up way over the spot price and con old people into buying.
Having said that the price you have to pay over spot has increased significantly compared to prior covid.
I do think Gold would be valuable in a collapse of society type situation. But you will probably also need a farm, be able to hunt, have supplies, know how to farm without modern tools, and be able to defend yourself if it comes to that. Seems like one ounce silver or gold pieces would be good.
I also think its a good idea to have diversity in assets and so having a small amount of metals isn't a bad idea.
Also, don't confuse numismatic value coins (coins minted that are valuable for rarity) with bullion.
And certainly don't buy these special edition minted coins with some celebs face on it that they mark up way over the spot price and con old people into buying.
This post was edited on 6/15/23 at 6:55 pm
Posted on 6/15/23 at 7:28 pm to Stiles
quote:Just sell it all and put the money in a company thats’s going to go 15x+ in the next 15 years.
For perspective, had I taken that capital amount and purchased Apple stock, between the dividends reinvested, splits, and capital appreciation, I’d be over $550k today. Or somewhere about 15x. It makes me sick to my stomach thinking about it.
Posted on 6/16/23 at 8:19 am to OysterPoBoy
quote:
How does one sell gold is my question?
Posted on 10/5/25 at 8:38 pm to Stiles
quote:
Probably the worst investment/hedge I ever did. Have about 22 oz gold and 250 oz silver. Started buying around ‘07 and a through the years until about ‘18 with my lowest cost about $650 and priciest about $1700. All said and done, I’m under having my “investment “ in gold doubled till now. A bit closer, if not over on the silver.
For perspective, had I taken that capital amount and purchased Apple stock, between the dividends reinvested, splits, and capital appreciation, I’d be over $550k today. Or somewhere about 15x.
It makes me sick to my stomach thinking about it.
All of mine are in 1oz coins except for a 1oz gold bar. I have gold in US mint eagles, One or two krugerrands, and a Chinese Panda. Silver is mostly US eagles, Canadian maple leafs, and some commemorative crap that I got below spot.
DONT DO IT!!
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