Forum

Investing in gold
 

I know i've made a thread before about investing but this one is more specific to a certain type of investment.

I'm sure all of you follow on whats going on in the world but since this forum has its rules we can't get into politics here, but lets face it the dollar is becoming worth less and less everyday. The economy isn't getting any better. So far it seems like its going to get a lot worse.

So getting to my point here, how does one invest in gold and how does it work? For me at least investing in gold in this time seems like a good idea. The thing is i know nothing about investing in gold or buying gold. I know you can invest many different ways but where and how can you buy gold?

Feel free to share anything that will educate me on this topic in any way shape or form.

Easiest way is to buy shares in $GLD through your broker. There is also $IAU, but the $GLD tends to track the spot price of gold better.

Each of these funds own physical gold bars and store them at an undisclosed location. The more money that pours into the fund, the more gold is bought. It's the easiest way to own gold.

Buying physical gold is an option, but you will have to pay a premium over the spot price to acquire it. Then you must store it. Storage can be quite expensive if you plan to invest heavily. The only reason you would go with this option is if you think WWIII is around the corner and the only currency that would be accepted is gold. I personally think it will be too late at that point. =}

It's all about $GLD. $SLV has too many commercial applications. The price is more volatile.

I would only buy gold that is in my possession to access easily. If you buy shares of gold then consider that money as good as gone if the **** hits the fan.

exactly. most people who buy gold buy just shares of gold. seems kind of meaningless if you think about it

Meaningless if you intend to use gold as a currency, yes.

But gold is an important part of investing and owning shares in a gold trust are the cheapest way to do that. If you had physical gold, the more you acquired, the more you would need a storage facility. This cost would far exceed the appreciation of gold prices, and your "investment" would be a loss year in and year out.

Many people believe that just because the price of the underlying commodity is going UP that the stock should go up also.

I can post companies that go Up in a Bull market and companies that go Down in a Bull market.

Do not follow that belief of you will go bust.

Same goes for Oil, Gas, etc...

Gold, silver, and even copper are good investments just in case the US dollar goes bust. But the very best investments just in case are guns and bullets. Especially assault riffles. Stock up on those people; It may be a bumpy ride.

Bitcoin is on the rise too - crazy investment opportunity.

I'm not sure why people love gold. Should **** hit the fan, you can not eat it, drink it or live in it

All precious metals are worth some money. Of course gold is sitting their at the top of collector and investors minds.

With that being said I know of 2-3 people who attend auctions I do and they only buy heavy metal things no one else wants such as heavy metal work benches, non working appliances, anything they can scrap for a buck.

One of them told me they make a living scrapping metal.

He drives a brand new Navigator pulling a huge trailer to the auctions and usually has it filled to the brim by the end of the night.

We are not far from the ocean and see those metal detectors everywhere looking for coins, rings etc.

Lol, sounds like good hard work indeed, most metals are easily resold for a fair price and if you know what to look for youre good to go, but i wonder if the gold price ever will rise again:typing:

For some people scrapping is what they know. Showing most of us are very lucky to have other skills.

It is hard work, watching them struggle to lift huge heavy items makes me wonder if it is worth it.

Scrapping is big business right now in the USA. Lots of people making money scrapping any metals.

Older homes are full of copper and people used to tear them down without even thinking. Now they bid off the wiring and pipes in the house before tearing them down.

$3.25 lb at close on Friday for copper means people will be out there still.

:juggle:

Used to be going to a farm auction or large house auction and if it had a large lout building or garage it was full of metal scrap type items and no one would even bid.

Now spring forward a few years and now you see guys beating each other to death on the prices to get that entire building, garage etc. that is full of any metal type items.

A couple of weeks ago a small out building with just metal cast piping brought some crazy money at an local farm auction. Before it would not even get a bid as no one wanted to touch it.

Have you been looking at its values lately? The bitcoin market crashed hard in the past week. Bitcoin is NOT a worthy or safe investment because it's literally money made from thin air with nothing backing it up. It's extremely volatile and nearly all of its rise are in forms of bubbles.

Just bought more Silver, too much paper gold and silver that doesn't exist watering down the market down. Perth mint in Australia and other bullion dealers have had physical demand going through the roof since Gold and Silver sold off two weeks ago. Longest back order for just about everything I have ever seen. I have been buying metals for over a decade.

Gold and Silver were real money for thousands of years. If **** hits the fans I would rather own something real than a piece of paper Bernakie can print and devalue at will.

Mining stocks are crazy cheap. Book values near 29 years. Buying them like CRAZY!!!!!!!!!!!!!!!!!!1

Re: Investing in gold
 

I can second this. But I've retired from stock trading..

As for gold, I would only buy something I can physically hold.

Re: Investing in gold
 

18k gold and IF colour grade D diamonds is all I buy :)

I wear it all every day so get to enjoy them rather then them sat in some undisclosed location where they will not get looked at and appreciated.

Bling bling :)

Also having them to hand is good because if I ever had a money crisis, I can sell them within minutes and get thousands there and then so its kinda handy, better than having stacks of cash in the house

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I've invested in Silver and Bitcoins. I buy Britannias which are free of capital gains tax. Got them stashed all over the place.

Also haves bitcoin stashed in a secure wallet that I ain't touching.

Re: Investing in gold
 

Bitcoins is a rough market to keep a handle on

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i invest in myself lol :p

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I'm interested in using it mostly for.business transactions, which is hard currently when the price is all.over the place.

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That's cool sax4 - securely kept

Re: Investing in gold
 

Hubby has bought silver for 25+ years and has it stashed away at the bank.

He has purchased some gold coins in the past but not a ton of it.

He said he has a lot of silver he paid 15-20 range for and price is what 35+?

He said it will hit 60-75 someday soon.

Re: Investing in gold
 

I do agree with holding physical metals. However, I do prefer to have some mining stocks because of the potential Capital Gains. In the U.S. here Physical Gold/Silver capital gains is treated as a collectable and taxed at 28% flat rate Capital gains. If you have mining stocks and hold them for a year you can get down to the 15% long term capital gains. Not mention some of the larger mining stocks do have some dividends distributions. I definitely like having a mix of both.


Bitcoin is still its early stages. I find crypto currencies very fascinating. Both Bitcoin and litecoin. Like so much of new technology you never know which one is going to win the market and how many users will adapt to the technology.

It is fascinating because shysters like Bernakie/Yellen and Mark Carney can't manipulate crypto currencies like they do their own monetary policy.

Re: Investing in gold
 

I have invested heavily in silver, much better than gold to handle & the price only goes up :) gold aswell but the problem is that its to expensive to buy in small quantities which is why i buy silver slowly. You can buy 10oz for $230 on ebay or 1oz for $30 its very nice.

Re: Investing in gold
 

Very true, the price for physical above spot price has gone up significantly the past 4-5 years.

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If you keep your investments in the US dollar they will be worthless. The elite are going to steal pensions here like they did in Greece and other countries. Only buy physical gold and silver. Yes you should also buy some guns and ammo. People are forgetting the third crucial item and that is a year supply of store-able food for each member of your family. If the crap hits the fan you can not eat your guns. If the government wants to take our guns all they have to do is cut off the food supply and then tell you to come to your local Walmart to turn in your guns for food. Heirloom seeds and .22 caliber rounds will be great for barter. Down with the New World Order!

Re: Investing in gold
 

Buy scrap gold and double your money every 21 days OR keep the bullion instead of cashing out, either way far and away cheaper than buying bullion for 90-110% of value. I used to buy $1000.00 of silver weekly off of ebay, got lucky and sold all for $47.00 right before the crash in April 2011. Ever since I only buy scrap.

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Re: Investing in gold
 

Silver has been under 25 for months now. Even at some points under $20. Personally I see this as a great buy. Anyone who has done research about the costs to prospect and mine silver compared to its price right now is crazy.

Reserves of above ground silver have been deteriorating for years. I am with your husband on this one. I never thought after 2009 I would see the spot price even close to $20 and OZ again. Although the premiums for Physical has gone up drastically the past few years. Silver very much looks like a buy and hold for the next 3-5 years.

Not someone to put all my eggs in one basket. Definitely not the US Dollar. But you go back in time you look at the Families that survived all the wars in Europe over 500 years. 1/3rd Metals 1/3rd Fine Art, 1/3 Real Estate. Maybe today that is 1/5 Metals, 1/5 Fine Art, 1/5th Real Estate, 1/5 Stocks, 1/5th Foreign Currency-Crypto Currency. Hard to say.

The Federal Reserves Balance sheet looks terrible. As well as Bank of England, Canada, etc. Most the too big to fail banks had the accounting rules changed back in 09 by FASB. Their assets are now market to maturity rather than marked to market. Most the Banking institutions in the US are insolvent as well as the UK and much of Europe.

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http://www.perthmintbullion.com/Imag..._Coin_Blog.jpg



:cheer: Home-grown happiness. Collect my silver in 1 kg coins. Makes the house tidier. :cheer:

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I love the Australian Mint produced coins - they have so many nice campaigns - I have to see what is in production now.

Cant recall if I saw the Perth Mint or if it was just a branch

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At that price it is a steal I believe.

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Silver is ambling along at $19 give or take.

Slow and steady.

No rocking the boat.

:yar:

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Could be quite a bit of volatility with all this taper talk the next few months. If silver drops below the $15 mark I will binge buying even more than normal. Most the big mining companies can barely pull the stuff out of the ground at $15-20.

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Everyone invest in dogecoins, its going to the moon.