Posted on 02/11/2009 10:37:46 AM PST by OneVike
I put all my money in Honus Wagner rookie cards.
Would you mind if we expanded it to other precious metals? I have been thinking about SLV myself (iShares silver trust).
Sure, just so we do not get too far off subject. But that does fall into my plea for help.
How do you plan to “put 30% of my wealth” into gold? Are you going to buy bullion or gold stock? If you buy bullion, how are you going to store it? If you store it at home, what’s your address?
It seems to be hovering in the same general price range - in the 900s.
If I had invested in lead - bullets - a year ago, I could have doubled my money.
Gold was a good investment ten years ago, when it was $250 an ounce.
That is why I ask, obviously I do own weapons, so try if you may. However, you may will meet God sooner then you like.
It is a commodity like any other. Weigh the investment value on what you believe the future supply versus demand will be as that will drive the price. It is not the magic investment that many try to sell it as, it is just a commodity.
I think 9mm, .45acp, 5.56 NATO, and AR15 parts are a better investment right now.
You’re supposed to buy low. With gold near a high, unless you think it is going to keep running up, now is not the time to buy.
Agree.
You cannot go wrong with any of those.
In addition to Yo-Yo’s comment, also realize that depending on how you get into Gold (physical versus an ETF for example), you will be taxed at a higher capital gain rate for any increase in value.
What no flame-fest? That will be a first in quite some time.
Let me give my uneducated opinion. Seems like it's probably too late to jump on the Gold bandwagon. Train already left the station. I hear “experts” tell me don't get out now or you'll miss the upswing. Who knows when the upswing is going to happen or to what level. Not me.
Bookmarking as a curious on-looker. I have similar 401K concerns.
excellent answer!
Agreed. I have seen the prices on everything I shoot double, and that assumes I can even find it to buy it.
Just keep in mind that the govt confiscated all the gold once before. Don’t fool yourself into thinking that the Zero would hesitate to do it again.
I just bought 20 0z of silver bullion actually. Gold went this high last year too and everyone was panic buying it and then it dropped a couple of hundred bucks/oz as the speculators moved to energy in the summer. I had invested in gold mines at that time instead of the metal and made about $600 which helped to offset the losses in everything else a little bit. I see the pattern repeating itself. I want to own gold but not at this price and not with signs of deflation all over the place and not after what I saw last year. I think I’d rather have cash for the time being. I’m not entirely worried about hyperinflation either in all honesty. I bought the silver just to have a little metal laying around...just in case. I can afford to play with silver but playing with gold can be very dangerous for middle class folks like me. Of course, with all the uncertainty going around these days, who knows. This is a question on a lot of minds these days.
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