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Joined: Apr 2011
Posts: 69,306 Likes: 15
Campfire Kahuna
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Campfire Kahuna
Joined: Apr 2011
Posts: 69,306 Likes: 15 |
The stock market is way over valued, but the ride's been long, & actually, IMHO, w/o justification.
But when a correction or a real crash comes, hang onto yer azz, 'cause the drop is going to be legendary.
MM
Yep. And it’s coming soon with Hiden Biden in the WH and his Handlers destroying America daily.
"Allways speak the truth and you will never have to remember what you said before..." Sam Houston
Texans, "We say Grace, We Say Mam, If You Don't Like it, We Don't Give a Damn!"
~Molɔ̀ːn Labé Skýla~
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Joined: Feb 2013
Posts: 6,457
Campfire Tracker
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Campfire Tracker
Joined: Feb 2013
Posts: 6,457 |
I have 101 grams of 24K. I’m looking at retiring, and the day I retire I’m going to sell and blow it on something. Probably a nice over and under. It was around 6000, I think it was down to 5300 or so. Anyway it will be good to have cash instead of a paper weight.
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Joined: Dec 2013
Posts: 13,127 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,127 Likes: 7 |
I have 101 grams of 24K. I’m looking at retiring, and the day I retire I’m going to sell and blow it on something. Probably a nice over and under. It was around 6000, I think it was down to 5300 or so. Anyway it will be good to have cash instead of a paper weight. About $5709 today
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Sep 2004
Posts: 8,173
Campfire Outfitter
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Campfire Outfitter
Joined: Sep 2004
Posts: 8,173 |
Investment = a set of actions with the intent of earning profit.
Gold isn't much of an investment - it's not going above $2k per oz.
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Joined: Dec 2020
Posts: 196
Campfire Member
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Campfire Member
Joined: Dec 2020
Posts: 196 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20.
It doesn't matter who gets more votes, It matters who counts the votes.
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Joined: Dec 2005
Posts: 4,185
Campfire Tracker
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Campfire Tracker
Joined: Dec 2005
Posts: 4,185 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today,
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Joined: May 2003
Posts: 10,431
Campfire Outfitter
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Campfire Outfitter
Joined: May 2003
Posts: 10,431 |
I'm going to move some excess cash flow into bullion next tax year. See how inflation shakes out by the end of the year. But inflation is going to be vicious, more than brokerage.
Up hills slow,
Down hills fast
Tonnage first and
Safety last.
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Joined: Dec 2013
Posts: 13,127 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,127 Likes: 7 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today, That 1932 $20 gold coin is now worth more than $1500.
Last edited by Hastings; 10/09/21. Reason: spelling correction
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: May 2005
Posts: 2,084
Campfire Regular
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Campfire Regular
Joined: May 2005
Posts: 2,084 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today, That 1932 $20 gold coin is now worth more than $1500. Since were talking about investing here, pretend that same $20 was invested in the boring AF S&P 500. Courtesy of a very good last decade it'd be worth a bit over 80k. Gold still seem like a good investment?
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today, That 1932 $20 gold coin is now worth more than $1500. Uh, try again. Buy a US Double Eagle $20.00 Gold Piece at eBay
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Joined: Dec 2013
Posts: 13,127 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2013
Posts: 13,127 Likes: 7 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today, That 1932 $20 gold coin is now worth more than $1500. Since were talking about investing here, pretend that same $20 was invested in the boring AF S&P 500. Courtesy of a very good last decade it'd be worth a bit over 80k. Gold still seem like a good investment? I cannot say whether your stated figure of 80K is correct but the jump in the price of gold from $20.67 to $1757 is indicative of the devaluation of the dollar. If gold ownership was protected in the constitution I dare say gold would be priced much higher than it is now. Right, but that is also including the collector value. The coin has slightly less than 1 ounce of gold.
Patriotism (and religion) is the last refuge of a scoundrel.
Jesus: "Take heed that no man deceive you."
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Joined: Jun 2002
Posts: 131,793 Likes: 23
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,793 Likes: 23 |
Right, but that is also including the collector value. The coin has slightly less than 1 ounce of gold.
There's some of that, but there's also the difference between the theoretical price of gold (spot) and the actual price of gold (what you need to spend in Federal Reserve Notes to actually buy it).
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Joined: Nov 2000
Posts: 2,810
Campfire Regular
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Campfire Regular
Joined: Nov 2000
Posts: 2,810 |
I have shares of IAU as a hedge, I no longer hold any physical gold or silver.
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Joined: May 2005
Posts: 2,084
Campfire Regular
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Campfire Regular
Joined: May 2005
Posts: 2,084 |
Bad investment 1932 one ounce was worth a $20 bill. 89 years later gold is $1750 ,and that same 20 bill is still $20. A 1932 $20 has a buying power of $356.81 today, That 1932 $20 gold coin is now worth more than $1500. Since were talking about investing here, pretend that same $20 was invested in the boring AF S&P 500. Courtesy of a very good last decade it'd be worth a bit over 80k. Gold still seem like a good investment? I cannot say whether your stated figure of 80K is correct but the jump in the price of gold from $20.67 to $1757 is indicative of the devaluation of the dollar. If gold ownership was protected in the constitution I dare say gold would be priced much higher than it is now. Right, but that is also including the collector value. The coin has slightly less than 1 ounce of gold. I'll show my work. Google-fu "S&P 500 ave yearly returns for 90 years". Plug that number into a compound interest calculator. That's how I came up with 80k or so.
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Joined: Feb 2003
Posts: 10,394 Likes: 4
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2003
Posts: 10,394 Likes: 4 |
In 1934 FDR set the price of Gold at $35/ounce and mandated that all Gold must be surrendered to the feds.... that is not a period we should include in the topic of return on investment with Gold. Since 1971 when Nixon deregulated Gold, we could consider. ![[Linked Image from goldprice.org]](https://goldprice.org/charts/history/gold_30_year_o_usd_x.png) Gold $35 in 1971 Gold $1642 in 2021 ---------------------------- 50 years. Price Ratio $1642/ $35 = 46.9 50th root of 46.9 = 1.08 -> 8% compounded annually. Meanwhile investing in big tech has made: Clinton 20% Bush 20% Obama 20% Trump 40% Biden 24%
There is nothing noble in being superior to your fellow man; true nobility is being superior to your former self. -Ernest Hemingway
The man who makes no mistakes does not usually make anything.-- Edward John Phelps
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