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Buying gold tips
- Thread starter Razorguns
- Start date
Razorguns
Well-known member
chewyxrage
New member
gold never loses value? Says who?
eliteandy
New member
I think he was generally speaking
Razorguns
Well-known member
$100 of gold in 2009.
$100 of american currency in 2009.
Fast forward 20 years. Which will be worth more? Which will have more purchasing power?
r
Razor a fool and his money will soon be parted! Good luck...
Gold never looses value. LMAO
Gold never looses value. LMAO
JohnnyBeBad
New member
I agree. I also invest in gold and silver.
Razorguns
Well-known member
30 Year Gold Price History
Owned on the internet.
I now expect you to deliver me beer as punishment for being owned.
r
L
lartinos
Guest
but hasn't Gold up alot in the last few years?
L
lartinos
Guest
I see you posted those graphs, they're kinda of hard to read though.
Gold was way over $2k spot in the early '80s... and $200 at the turn of the century. Likewise, silver went from over $50 spot to $6ish spot between those years.
Since most gold a layperson will buy is in the form of coins, your first place to research the topic would be in numismatic news. A generic circulation Saint-Gaudens double eagle runs about 5-10% over spot, or around $1k nowadays.
Razorguns
Well-known member
$1 in 1900 is not the same as $1 in 2009.
A gold bar has retained far more than value than the dollar bill. The dollar bill has lost 96% of it's purchasing power. Try buying a meal on a dollar now.
r
Gld
Jocques Straap
New member
kitco.com
You can buy bars, coins, bullion. You can also buy into pools. My family has placed several orders over the past few years, no problems.
You can buy bars, coins, bullion. You can also buy into pools. My family has placed several orders over the past few years, no problems.
needtogetarmy
CEO of Project Mayhem
Adjusted for inflation, gold would need to hit approximately $1,500 right now for it to be equal to its price in the early 1980's when it peaked.
I don't track gold so I cannot form an opinion on the issue as to whether now is a good time to buy.
I don't track gold so I cannot form an opinion on the issue as to whether now is a good time to buy.
That has nothing to do with my post. Gold was attatched to the US dollar until the '30s. (Hell, if you have a crisp $1 bill dated 1900, it's worth fifty times its weight in gold...)
Notwithstanding, gold and silver fucking crashed around '81. Adjusted for inflation, we're not even halfway back to the 1980-81 levels. (It's interesting if you want to look up all that happened back then. Ibanks used to be heavily into the coin and gold/silver markets, investing hundreds of millions.)
The above is often cited by gold enthusiasts who believe that gold will continue to see unprecedented growth in the coming decade.
needtogetarmy
CEO of Project Mayhem
That has nothing to do with my post. Gold was attatched to the US dollar until the '30s. (Hell, if you have a crisp $1 bill dated 1900, it's worth fifty times its weight in gold...)
Notwithstanding, gold and silver fucking crashed around '81. Adjusted for inflation, we're not even halfway back to the 1980-81 levels. (It's interesting if you want to look up all that happened back then. Ibanks used to be heavily into the coin and gold/silver markets, investing hundreds of millions.)
The above is often cited by gold enthusiasts who believe that gold will continue to see unprecedented growth in the coming decade.
I definitely see their side of the argument. I do not see the dollar remaining as the #1 currency in the long-run. US equities could see stagnant growth for a long time too. US debt could implode within a decade if things do not get under control. Gold is a secure investment, whether it is good to buy at this time is debatable.
needtogetarmy
CEO of Project Mayhem
That is questionable. All you get is a claim on an underlying right of possession. The best bet for gold is to buy the real deal and put it in a safe place.
If history repeats itself, nothing can stop the government from prohibiting the sale of gold. Back in the 1930’s, President Franklin D. Roosevelt ordered gold coins owned by American citizens to be confiscated. Americans that did not comply faced fines and jail sentences.
chewyxrage
New member
Go buy a McChicken
I see your point tho, all the shit I've been reading says the USD is fucked over the long term. I've been thinking the exact same thing. So has everyone else tho.....
JohnnyBeBad
New member
Only buy physical and stay the hell away from numismatics! If the shi* hits the fan numismatics want be worth any more than a GAE. The best place to buy is APMEX.COM!
Razorguns
Well-known member
That has nothing to do with my post. Gold was attatched to the US dollar until the '30s. (Hell, if you have a crisp $1 bill dated 1900, it's worth fifty times its weight in gold...)
Notwithstanding, gold and silver fucking crashed around '81. Adjusted for inflation, we're not even halfway back to the 1980-81 levels. (It's interesting if you want to look up all that happened back then. Ibanks used to be heavily into the coin and gold/silver markets, investing hundreds of millions.)
The above is often cited by gold enthusiasts who believe that gold will continue to see unprecedented growth in the coming decade.
Doesn't matter to me. Gold is bought as a HEDGE against the dollar. Gold has been around for 10,000 years. I don't believe it's goign away anytime soon.
You want to put all your faith into FRN's? I think you're insane, but hey go all for it -- your money dude. I don't want to 'make money' with gold, I just want to 'keep it'. And when all your dollars are now worth garbage in Europe, guess what - i still got my gold.
r
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From the thread title, I thought maybe you were looking for some of these:
KB would sport those if you told him they were UGGS
Dude you are so stupid look at gold in the 80's it fell like a rock all they way into 1998. Just like the rocks in your head. You know nothing about investing. Wow you don't own anything but some mineral with no secondary purpose! LMAO
needtogetarmy
CEO of Project Mayhem
Gold is a recognized currency all over the globe in virtually every culture. I think it is smart, very smart, to have gold on hand.
Generic gold coins are the bulk of what's availiable if you want to purchase physical gold. No one's saying put down $500k for a double eagle, but cherrypicking some non-shit will yield more than a base 5% over spot when it's time to sell.
And LOL @ buying from a random website. If you deal in the gold market, you buy at bluesheet prices -- not $60 over spot plus S&H for sight-unseen. You might as well order from the US Mint.
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