Posted on 10/11/2008 8:28:58 AM PDT by reaganaut1
My wife wants to own at least $10,000 of gold. She has never trusted stocks much, and recent events have made her more concerned. I have told her about the Gold ETF (symbol: GLD) and about gold futures contracts, but she does not want "paper". So I suppose we could buy gold coins or gold bullion and store it in a bank safe deposit box or a safe at home. How do the Freepers who invest in gold do it? How do you sell when the time comes?
We are of Indian origin. Indians (especially women) cherish gold. As India gets richer, and as central banks focus on saving banks rather than protecting purchasing power, gold may be a decent long term investment.
I have heard it is very hard to buy a lot of gold coins now because of the massive demand. You’ll have to buy them at a premium. I would recommend buying GLD or futures while you accumulate coins, if you believe gold is going to the moon, as some predict.
Forget the gold, load up on shotgun shells and canned goods, you can’t eat gold.
http://www.google.com/search?client=safari&rls=en-us&q=buy+gold&ie=UTF-8&oe=UTF-8
Numerous good suggestions here.
Buy gold from the US Mint.. Check www.usmint.gov
Gold is a horrible long term investment.
The conditions under which your gold "investment" pays off are end-of-the-world-as-we-know-it conditions.
THAT'S why you should own it.
I’m too poor to own gold, so we have some silver. Rounds, coins, and a few bars. Wealth preservation, not investment. Go for it. Gold and silver have always had value from Vedic times to the present. Federal Reserve Notes or ciphers on a computer are subject to change and diminution or obliteration.
Your wife is smart and if you have more money to invest I’d get more. And some silver, too.
No no. Terrible markups if you buy straight from the mint. Don’t get your US coins from them.
In Gone with the Wind, Mr. O’Hara reminded Scarlett that it is “all about the land”...buy property with a house on it that you can rent out, atleast if the value drops it will eventually turn around. It’s not liquid, but its good value if you buy smart. Lots of foreclosures out there right now.
Rush, Newsmax, and WorldNetDaily seems to have quality dealers to work with!
Not all places to buy play fair.
Lear has been a good company in the past I don’t know if they still offer the same policy?
One of the dead giveaways that owning gold is foolish and worthless is that it is ADVERTISED as being such a smart thing to do. If one buys gold, they should store it under the CraftMatic Adjustable Bed which they got a super special deal on through Direct Buys. Then maybe they can use one of those super-duper all-purpose tools they bought off a TV ad to slice off just the right amount of the gold to carry with them to the grocery store.
I sell gold, carbon credits 1/2 off. Today only. No checks.
Depends on where your at in America. Here in Alaska it’s pretty easy, because of access to honorable, and qualified assayer/gold dealers. I would think about one ounce, and ten ounce bars, and they fit in a safety deposit box quite nicely. Talk to your broker, they should be connected.
I think I’d agree. However, we’re young (and will probably move in a couple years) and don’t have that kind of spare money sitting around. We do own some REIT stocks, so maybe we’re doing that in a small, indirect way.
Other countries sell gold coins, but you typically have to pay sales tax on these and there are other risks as well.
” ADVERTISED as being such a smart thing to do”
Savings accounts, stocks, 401(k)s, investing of all sorts is advertised. Are they also all “foolish and worthless”?
My grandfather used to say it is better to own gold mining stocks than gold. Newmont Mining is trading at a 5-yr low now.
Forget gold. It’s over priced.
Go with precious gems and DIAMONDS.
It’s portable and maintains its values.
The Russina Nicholas Czar family was NOT loaded down with gold when they were shot to death. They were loaded down with diamonds and precious jewels sewn in their clothes. This is why they didn’t die instantly. The bullets couldn’t get through to the diamonds sewn in the clothing. This is portable wealth that MAINTAINS it’s value.
#10,000 in gold is only about 10 or 12 ounces these days.
http://www.usagold.com/gold/price.html
Just go to a coin store and buy a varied collection of coins. I understand U. S. Eagles are hard to get, but any others should be doable.
They come in ‘sizes’ from 1/10 oz to 1 oz. Buy some of each and that will make them easier to use for commerce if the dollar collapses (or when it collapses).
As for storage, there is no perfect answer. Be creative. Be smart. If there isn’t a vault within walking distance, for that small amount, a home safe is probably best. Then buy a 12 gauge pump action shotgun to protect your home and valuables. A safe deposit box isn’t safe from a lawless government.
Another thought: Don’t buy all gold. Buy a bunch of silver coins as well, even some ‘junk’ silver coins. They would be VERY spendable in case of a collapse.
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