Buying Gold

Al · Sep 29, 2004

I have lost money in the past with Gold Stocke and Gold Mutual funds. I never lost hope though and currently have a couple of percent of my assets in those things. I am so convinced that the Government is heading towards financial Armageddon that I want to purchase Gold coins on probably a monthly Basis.

I realize there are places to buy on line, but in many cases the premiums are high. Also you need to pay shipping. The Canadian Maple Leaf and Mexican 50 peso seem to be the best value. Has anyone purchased gold at a bank?? And what was the premium. I plan on looking at the Franklin Mint and the U.S. Mint in Phila.

Any thoughts?? Thanks.

Gary Allan · Sep 30, 2004

Go palladium ..this is the magic stuff for cold fusion.

I don't dabble in gold ..but I believe that you are quite correct that major economic upset is in our future ..the effects of which will be global in impact. We get cut ..they bleed.

Ancient Chinese curse: May you live in interesting times.

Dan4510 · Sep 30, 2004

If it gets that bad the only valuable things will be water, food, gold, guns, and ammo.

Stock up on all if have money, if not stock up on guns and ammo, at least then you can take the water, food, and gold away from the sheep of the world.

Dan

cryptokid · Sep 30, 2004

my dad has these coins called "cougarand" or somthing to that effect. not quite sure how to pronounce or spell it. he has tonnes of them infact.
he said that gold basically never loses value compared to stocks and such. it basically only gains value. gond will never go out of buisness or file chapter 11. gold is there, it is real, you can melt it into other things oir smaller pieces. it doesnt depreciate in value, and it wont rust, fall apart, burn like papers. it can survive a house fire and still be there, unlike paper money. the only bad thing gold can do is get stolen.

so he buys these gold cougerand things instead of stocks or bonds. i dont think he cares very much about a market crash or anything like that, but if it did happen, you CAN pay just about anyone in gold coins or small chunks taken off a gold coin.
as a plus, if you decide to cash them in up the road, gold awalys gains value, never perminantly loses value. so its safer than a stock or bond.

Shannow · Sep 30, 2004

quote:

Originally posted by Dan4510:
If it gets that bad the only valuable things will be water, food, gold, guns, and ammo.

Stock up on all if have money, if not stock up on guns and ammo, at least then you can take the water, food, and gold away from the sheep of the world.

Dan

Been reading Ragnaar Benson again ?

He writes some good stuff. .22LR will be the gold standard when TSHTF.

XS650 · Sep 30, 2004

quote:

Originally posted by cryptokid:
. gold awalys gains value, never perminantly loses value. so its safer than a stock or bond.

When you correct for inflation, gold has lost value over the past 20 years.

Gold, 1975 to present.

In that same period of time, stocks and bonds have increased in value a few hundred percent.

The DJI has gone from 1,200 to over 10,000 in that time. An average of over 12% a year, while gold has declined a bit.

Jakebrake · Sep 30, 2004

quote:

Originally posted by cryptokid:
my dad has these coins called "cougarand" or somthing to that effect. not quite sure how to pronounce or spell it.

FYI...Krugerrand, a gold coin of South Africa

rgl · Sep 30, 2004

I guess gold may or may not be a good idea depending on the scale of the disaster one is expecting. If one expects just the US economy to collapse but not the rest of the world's (unlikely) then it may be worthwhile. Also if one expects to have a temporary problem like a depression. But I don't see gold doing much for anyone in let's say a nuclear winter or a general collapse of the world economy. Being gold is useful mostly in a. jewelry b. high tech instruments c. industrial processes, if there is a total collapse then they might end up as good as diamonds, which is to say worthless. You can't eat it and you can't point it at someone and tell them to get off your land.

Jewelry, gold and such are not in high demand when one's future is bleak. My favorite anecdote is how the men stuck on the sinking S.S. Central America threw their gold dust in the air like flour because they knew their chances of rescue were about zero and their gold was going to have to stay regardless

Ugly3 · Sep 30, 2004

If someone wanted to buy gold, and I can't imagine why, would not bullion be a better buy than coins? Coins have to be "struck" and the only real value is in the gold content of the coin. Seems like added expense for no benefit.

Pablo · Sep 30, 2004

Gold is not an investment.

Gold may be some level of insurance, but it is a net loser.

Shop locally. Or import. Coins and intrinsic value. Bullion is possible, too. As insurance you will store it at home and tell us where you live.

Drew99GT · Sep 30, 2004

Gold has gone down over the last 20 years because we have had 20 years, on average, of fantastic economic growth. Find a chart that tracks gold during long lived bouts of very high inflation, such as the 70s and 30s, and gold skyrocketed. Gold may be a good bet right now (it's on the rise)if US debt grows at it's current pace, and medicare and social security (which in and of itself is not really in that dire of financial straights) really do come to the point of bankruptcy. Another KILLER for the US government is all the bankrupt US pension plans. During the Mexican peso crisis, in which Mexico had like a 10-15% GDP defecit, and an equally bad trade defecit, Gold skyrocketed in Mexico.

Al · Sep 30, 2004

quote:

Originally posted by Pablo:
Gold is not an investment.

Gold may be some level of insurance, but it is a net loser.

Shop locally. Or import. Coins and intrinsic value. Bullion is possible, too. As insurance you will store it at home and tell us where you live.

I have made 100% on my gold investments since 2000 (Placer Dome) PGD. Actually there is almost no premium in gold coins vs ingots.

I think I found the best place: http://www.bulliondirect.com/index.jsp 1%transaction fee and they store free. I need to research a little more. Now is a risky time but I'm ready to jump out pretty quick. I'm not sure how much upside is left. I think there is some left as the dollar looks like its going to hit a new low along with crude hitting new highs and the market is going nowhere fast

.

XS650 · Sep 30, 2004

quote:

Originally posted by Drew99GT:
Gold has gone down over the last 20 years because we have had 20 years, on average, of fantastic economic growth. Find a chart that tracks gold during long lived bouts of very high inflation, such as the 70s and 30s, and gold skyrocketed. .

High inflation in the 1930s????

Drew99GT · Sep 30, 2004

What I meant to imply was a stangnate economy with low securities prices and the value of the dollar in the tank. Which is usually synonimous with low inflation, so what I said was pretty stupid.

XS650 · Sep 30, 2004

quote:

Originally posted by Drew99GT:
What I meant to imply was a stangnate economy with low securities prices and the value of the dollar in the tank. Which is usually synonimous with low inflation, so what I said was pretty stupid.

While I was looking around, I ran across a site that charted gold vs market for some periods of time over the last 2 or 3 decades. There was pretty good inverse relationship. The site was a gold peddling site, so I suspect they had carefully chosen thir time spans to examine

, but there is something there.

Unfortunately, history is a lot easier to predict that the future.

dropitby · Oct 1, 2004

Al you better check this site Traders Talk.com. There is a section on Gold. There is a letter that the Bush people passed laws that Americans can not sell Gold for a profit. Canada yes not America,i too have gold and have said all along gold is the best trading of them all there are only so much gold stocks.That spike of 900 oz is a easy target yet there are many hard assets that will do at least as well.

Pablo · Oct 1, 2004

quote:

There is a letter that the Bush people passed laws that Americans can not sell Gold for a profit

I kinda avoid sites that just make things up.

Al · Oct 1, 2004

quote:

Originally posted by Pablo:

quote:

There is a letter that the Bush people passed laws that Americans can not sell Gold for a profit

Click to expand...

I kinda avoid sites that just make things up.

Yea..that's bogus info

goodoleboy · Oct 2, 2004

There are a couple of Radio talk show host who push gold. My thoughts anything that has to be "sold" or "pushed" is not really worthwhile.

dropitby · Oct 2, 2004

I haven't traded much lately with all the Hurricanes and a roof leak. But there is a well respected Gold author who put out a article every month for the last 10 years that's where I read it.It may be bogus but something to find out about before getting too well invested.The rare coin market they say is the most profitable I heard.Trust me I read a lot and go to money shows and like everything else finding what is BS and real is very hard to do sometimes.

By the way HL looks like its up about 35-40% this year a well run deverse company.I like PAAS Too.

Buying Gold

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