Should I Be Buying Gold?

[ABM]

If so, what might be the best way to go about it.............from an investment standpoint?

Thanks,

ABM

 

[OddEnormous]

Should I Be Buying Gold?

No,

Tin Foil.

YHIHF

 

[Anima]

If so, what might be the best way to go about it.............from an investment standpoint?

Thanks,

ABM

I would buy some if I had the money. There isn't a whole lot of gold in the world and it's only to become more scarce as time goes on.

There are three things you can do if you want to buy gold, you can buy gold bars, gold coins, or stock in gold.

If you buy stock in gold then you are not really buying stock in "gold" but rather gold mining companies and there are the same risks that come along with stocks, like the market and bankruptcy.

Gold bars are a good bet if you can find a reputable dealer who can prove the gold in pure and you have a lot of money, gold bars typically cost between $10,000 and $100,000 dollars a pop. Although, it can be much more difficult to sell gold bars then coins or stock.

Most people who invest in gold do so by buying gold coins. They are easy to sell, readily available, and the government guarantees a gold coins quality and quantity, unlike with gold bars. They are by far the safest bet, and if you're going to invest in gold I would take this route.

 

[ABM]

Most people who invest in gold do so by buying gold coins. They are easy to sell, readily available, and the government guarantees a gold coins quality and quantity, unlike with gold bars. They are by far the safest bet, and if you're going to invest in gold I would take this route.

Very cool, thanks.

Any suggestions on a reputable gold coin dealer? Or, perhaps, should I be doing this locally?

EDIT: OK, I just found these guys. Is this (or similar) the way to go?

http://www.usagold.com/productspage.html

Thanks!

 

[BLAZER PROPHET]

Very cool, thanks.

Any suggestions on a reputable gold coin dealer? Or, perhaps, should I be doing this locally?

EDIT: OK, I just found these guys. Is this (or similar) the way to go?

http://www.usagold.com/productspage.html

Thanks!

I have to admit, you're a sucker for every damn scheme that comes along. Look, rather than this rip off for gold (which is currently tanking), I have a bridge in the Gobi Desert I want you to invest in. Please send me $5,000. I will take good care of you.

 

[ABM]

I have to admit, you're a sucker for every damn scheme that comes along. Look, rather than this rip off for gold (which is currently tanking), I have a bridge in the Gobi Desert I want you to invest in. Please send me $5,000. I will take good care of you.

Thing is, I have $5,000...and you don't.

Oh, and you're not getting it, either.

 

[BLAZER PROPHET]

Thing is, I have $5,000...and you don't.

Oh, and you're not getting it, either.

Actually, I do have $5,000 and why can't I have your money? It'll be better spent and cared for than responding to infomercials you watch at 2AM.

 

[Anima]

Very cool, thanks.

Any suggestions on a reputable gold coin dealer? Or, perhaps, should I be doing this locally?

EDIT: OK, I just found these guys. Is this (or similar) the way to go?

http://www.usagold.com/productspage.html

Thanks!

I would go with someone off the US Mint's website. USA Gold might be on there but I haven't checked.

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=lookup

And to be on the safe side make sure check out every company you are thinking of doing business with at the Better Business Bureau.

http://www.bbb.org/us/consumers/check-out-a-business-or-charity/

 

[Draco]

Buy gold for a fun collectible is ok, just don't expect it to make you money.

Even with the recent historic stock drops, the worst investment funds as measured over a long time horizon are all gold funds.

 

[MARIS61]

Real estate is at bargain prices and in vast supply.

With $5,000 you could buy some land outright.

 

[AgentDrazenPetrovic]

we're probably going to face rampant inflation in the next few years. Gold would probably be an ok buy but its always been going up...who knows, maybe a gold bubble. Safer than stocks though.

 

[maxiep]

Gold is a terrible investment. It's already increased in price because of the expectation of instability. You'd be buying high and purchasing an asset that's incapable of producing income on its own.

 

[ABM]

Gold hit an all-time high this morning. Everything is volatile at this point, but........

 

[3RA1N1AC]

id invest in penicillin, when the cities crumble, you are going to need to kill the inevitable tooth infection, and wont be able to trade a shiny metal for it

 

[SlyPokerDog]

Very cool, thanks.

Any suggestions on a reputable gold coin dealer? Or, perhaps, should I be doing this locally?

EDIT: OK, I just found these guys. Is this (or similar) the way to go?

http://www.usagold.com/productspage.html

Thanks!

I've been buying from Columbia Coin for years. They're on SE Hawthorne in Portland. Great place!

Start off buying a 1/10th oz gold coin and 1oz of silver. I actually have gold and silver in my safe deposit box that I bought when I was 12yrs old, lol. Just keep buying a coin or two every month.

 

[SlyPokerDog]

I've been buying from Columbia Coin for years. They're on SE Hawthorne in Portland. Great place!

Start off buying a 1/10th oz gold coin and 1oz of silver. I actually have gold and silver in my safe deposit box that I bought when I was 12yrs old, lol. Just keep buying a coin or two every month.

http://columbiacoin.com/


I've been reading some of the other replies in this thread. I've been buying gold and silver for over 20yrs but it's not my only investment. When you average out what I've paid per coin for the last 20yrs it's been a pretty damn good investment for me.

 

[barfo]

The one thing that will always be in demand is vaginas. I put as much as I can into vaginas on a regular basis.

barfo

 

[3RA1N1AC]

and now we are back to penicillin

 

[SlyPokerDog]

and now we are back to penicillin

LOL!

 

[ABM]

The one thing that will always be in demand is vaginas. I put as much as I can into vaginas on a regular basis.

barfo

Yeah, small cap fun would appear to be a reasonable venture for someone such as yourself.

 

[BrianFromWA]

I hear, like Roman Polanski, he's an expert in"international futures"

 

[3RA1N1AC]

theres a penalty for early withdrawal though

 

[Draco]

Gold hit an all-time high this morning. Everything is volatile at this point, but........

Not by measurement in real dollars, it'll need to hit about $2400 an oz.

If you got $5k to invest nickle could be a better investment. You'll need a few sq ft in a garage or basement to store it but have the bank give you 50 boxes. It'll be 1100lbs. You'd currently have scrap metal worth an extra $950 above face value. If nickel and copper prices double you'd have $11,900 worth of metal. A quarter from 1964 is worth $7.76 in scrap metal, so these things happen. You are guaranteed to never have less than $5000 even if metal becomes worthless.

 

[Draco]

Think of this, if you bought $5000 of quarters in 1964 today it would be worth $155,200!

 

[julius]

Think of this, if you bought $5000 of quarters in 1964 today it would be worth $155,200!

what would the return be if you had 5000 in 1964, and put it in a bank and left it there? or a bond?

btw, is that actually true? because I have some 1964 half dollars (and older ones, with Ben Franklin on them)...how much would they be worth?

If my math is right (and if history is any judge, it's not), you're saying each quarter is worth 30 bucks? Because I sure as hell didn't pay 30 bucks for the half dollars and quarters I've bought recently? OR are you talking about inflation?

 

[Draco]

If you put all the gold that's been mined in human history into one cube it would only be 67ft on each side. That's what I'd expect fort Knox to look like, not all the gold ever seen by man. It definitely is a precious metal.

 

[julius]

In an answer to myself...

http://www.coinflation.com/

 

[Draco]

In an answer to myself...

http://www.coinflation.com/

Yes, half dollars up to 1964 are worth $15.52 and quarters are worth $7.76 in today's scrap metal prices. That is 31x original face value.

The coins usually would be worth more as collectables, there is a price guide at numismedia.com. Scrap metal prices are the bottom end for junk coins with zero collectability.

 

[barfo]

Isn't it illegal to melt down coins?

barfo

 

[Draco]

what would the return be if you had 5000 in 1964, and put it in a bank and left it there? or a bond?

Well I'm sure some bond's were superior and obviously the stock market is. I believe the compound average growth rate is 7.58%, pretty solid and definetely far better than a low rate government bond or bank account. But this is a much lower risk investment than stock, bonds, commodities or gold. If you bought at face value you'd never have a loss.