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Joined: Dec 2002
Posts: 14,226 Likes: 1
Campfire Outfitter
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Campfire Outfitter
Joined: Dec 2002
Posts: 14,226 Likes: 1 |
Good deal! Love those Krugerrands.
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
They must have only had 3 left, as that's all they let me buy... ![[Linked Image from i.postimg.cc]](https://i.postimg.cc/gj2qbB5n/Screenshot-20220715-193739-Samsung-Internet.jpg) Nice.
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Joined: Apr 2004
Posts: 990
Campfire Regular
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Campfire Regular
Joined: Apr 2004
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Well, I hate to break it to you guys, but secondary market gold, which I think is the proper term from my Economics degree days, is a poor choice. Gold, silver, and anything else is only worth what you can sell it for, and the gold coin and bullion market is marketed for selling not buying. You will find that your selling is a captured market and that you will not be able to sell at the price you buy.
If you want to have some [bleep]-hits-the-fan money, then buy only what you think you can sell easily in your market.
One of my professors told me, In Germany 1945, the street price of bread was gold coins or diamonds, which says less about the value of bread than it does of the low value of gold coins and diamonds. If you get into a 1945 bug out transient scenario...how much gold can you even carry? I think precious metals are more the long term investment against inflation...eg a story on public radio yesterday had a person digging up a box in their back yard buried in the 30's. It had $1k in it. So, it's worth 1k today...since, much less than $1k from the 30's. But, if it was silver, gold, platinum it would've surpassed inflation and been worth more. PS I am no investment person, and live virtually through Jorge I's posts. He makes sense.
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
How much gold can you even carry? That's actually one of the benefits of gold, i.e., how much value you can conveniently transport. A small string purse full of British Sovereigns or French Roosters constitutes an enormous amount of wealth in a small package.
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Joined: Nov 2010
Posts: 19,009
Campfire Ranger
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Campfire Ranger
Joined: Nov 2010
Posts: 19,009 |
Check out the hood pawnshops.
Get some used gold teef.
Dave
�The man who complains about the way the ball bounces is likely to be the one who dropped it.� Lou Holtz
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Joined: Jul 2005
Posts: 1,785
Campfire Regular
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Campfire Regular
Joined: Jul 2005
Posts: 1,785 |
They must have only had 3 left, as that's all they let me buy... I picked up one of these and 5 of the 1/10 oz Canadian mint coins. Being a novice gold investor, I wanted to ease into it. As The Real Hawkeye noted, smaller denominations give a person greater flexibility. I just hope the gold prices don't suddenly drop into the basement, or maybe I do?
"I didn't realize we had so many snipers in this country." by J23
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Joined: Jul 2008
Posts: 8,517
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Jul 2008
Posts: 8,517 |
The problem I see with smaller pieces is, that if you times the price, it comes out way over spot, and fees, than one larger piece, say an ounce, and fees.
Say a half an ounce is about 1,050, times 2, is 2100 bucks, vs a single ounce at 1850.
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
The problem I see with smaller pieces is, that if you times the price, it comes out way over spot, and fees, than one larger piece, say an ounce, and fees.
Say a half an ounce is about 1,050, times 2, is 2100 bucks, vs a single ounce at 1850. Exactly my point. If you want smaller pieces, go with low premium smaller pieces like old British Sovereigns (Remember Bond had a strip of them in From Russian With Love as standard equipment for bribing his way out of anything in any country he might find himself in?) and old French Roosters (i.e., French gold 20 franc pieces).
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Joined: Jan 2011
Posts: 1,201
Campfire Regular
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Campfire Regular
Joined: Jan 2011
Posts: 1,201 |
$1800 can buy an awfully nice rifle or shotgun! Just sayin’! 😁
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Joined: Feb 2008
Posts: 8,574
Campfire Outfitter
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Campfire Outfitter
Joined: Feb 2008
Posts: 8,574 |
There will be no place to Hide ..
If you don’t stop their Spending your all going to be Spray n Wiped …
All of You ..
The Marxist got another 680 Billion on the Table and the Derby Donkey named Mitch,Lesbo from Maine
The South Carolina Twinkle Toes going to push it ..
Then there will be another.. Another..
Till you all turn to Dust ..
Eat your [bleep]’n OG ..
Gawd you People need some [bleep]’n Ovaltine..
Maybe a Geratol Butt Pump ..
Your getting back into a Corner..
You and Everything You ever Knew including your Grandchildren..
Roll Them or They Roll Q
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Joined: Jul 2008
Posts: 8,517
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Jul 2008
Posts: 8,517 |
Hate to say this, but I have enough guns, and several, very nice guns.
Akrange,
I don't have kids, or grandkids...
I look at my spending on metals as hiding cash into something tangible. I won't lose money, I hope, but stand to make a little back, and hold something of real value in the mean time.
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Joined: Jul 2015
Posts: 14,715 Likes: 2
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2015
Posts: 14,715 Likes: 2 |
I was talking to a dealer about Chinese fakes. He said they are VERY good. He had someone buy some Maple leafs off him then try to return them. Except they switched them for Chinese fakes. He has a machine that can tell the difference, but what are the rest of us supposed to do? Makes engaging in commerce with them difficult.
Politics is War by Other Means
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Joined: Jul 2008
Posts: 8,517
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Jul 2008
Posts: 8,517 |
Buy from a reputable dealer.
Apmex, Liberty Coin, (who I just used), and Kitco, are 3 that come to mind.
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
I was talking to a dealer about Chinese fakes. He said they are VERY good. He had someone buy some Maple leafs off him then try to return them. Except they switched them for Chinese fakes. He has a machine that can tell the difference, but what are the rest of us supposed to do? Makes engaging in commerce with them difficult. Visually, the fakes can be impressive to a novice, but there are ways to tell without the fancy machine they have at coin dealers. Find out what the correct weight, diameter, and thickness of the coin is supposed to be, then verify these (buy a digital jeweler's scale and a digital caliper). Also, there's the ping test. Buy a ping testing kit, then download the coin ping tester on your smart phone. The real coins have a distinctive ping all their own when held in a ping device and tapped firmly with a wood dowel. The software on your phone will listen to the ping and tell you if it's kosher or not. Gold coins tend to ping in a certain way, anyway, so you can even get away without the software on your phone, with just the ping device. They ring like a bell, and keep ringing. Fakes don't do that. You can also do a "specific gravity" test with no special equipment (a jeweler's scale, a container of water, and some thread). There are YouTube videos on how.
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
Thinking a 1 ounce, and maybe a few lesser.
Gold is Gold, but Maple Leaf, Krugerrand, Eagle , or a John Wick ?
Some Silver too ??
Buffalo's, Heck even John Wick ? ![[Linked Image from cdn.silver.com]](https://cdn.silver.com/wp-content/uploads/2017/05/100-corona-austrian-gold-coin-au-obv.jpg) The 1915 restrike of the 100 Corona Gold Austrian Coins are usually the best deals on gold, because oddball (lesser known), yet contain just a hair under a full ounce of gold. They were quite popular in the US among gold bugs prior to ownership of gold bullion being legalized in the 1980s. They were legal before that time because they were actual national coins, so could be considered something for coin collections, which were never outlawed by FDR. This was a bit of a legal fiction, though, since they were produced (continually restruck with the date 1915) precisely to fit into this legal loophole. They are plentiful still, and typically very inexpensive, i.e., the premium over spot is usually quite small. Krugerrands are also among the better deals. For silver, you generally cannot beat junk silver, i.e., pre-1965 US dimes, quarters, and half dollars. Best deals for that are usually found at pawn shops, so just call around your local pawn shops. I just reread what I wrote above and saw a typo on my part. Ownership of gold was legalized in the 1970s, not the 1980s. Too late to correct it in the text.
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Joined: Jul 2008
Posts: 8,517
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Jul 2008
Posts: 8,517 |
I read that, but figured the 8 was close to the 7, and fat fingers !
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Joined: Jun 2002
Posts: 131,697 Likes: 17
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,697 Likes: 17 |
I read that, but figured the 8 was close to the 7, and fat fingers ! Especially on my tiny MacBook Air.
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Joined: Jan 2006
Posts: 5,651 Likes: 1
Campfire Tracker
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Campfire Tracker
Joined: Jan 2006
Posts: 5,651 Likes: 1 |
If the SHTF the last thing I want is gold or silver. Give me a few 9mm Glocks and ammo instead.
My biggest fear is when I die my wife will sell my guns for what I told her they cost.
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Joined: Jul 2008
Posts: 8,517
Campfire Outfitter
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OP
Campfire Outfitter
Joined: Jul 2008
Posts: 8,517 |
If you read this thread, you'd see it's not about your fantasy scenario, but putting money into something tangible.
Depending on how much you have, and how much it increases, you can profit a little or a lot.
How much are you making in your savings account ?
How's the 401k ?
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Joined: Jan 2021
Posts: 89
Campfire Greenhorn
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Campfire Greenhorn
Joined: Jan 2021
Posts: 89 |
Well, I hate to break it to you guys, but secondary market gold, which I think is the proper term from my Economics degree days, is a poor choice. Gold, silver, and anything else is only worth what you can sell it for, and the gold coin and bullion market is marketed for selling not buying. You will find that your selling is a captured market and that you will not be able to sell at the price you buy.
If you want to have some [bleep]-hits-the-fan money, then buy only what you think you can sell easily in your market.
One of my professors told me, In Germany 1945, the street price of bread was gold coins or diamonds, which says less about the value of bread than it does of the low value of gold coins and diamonds. Interesting. Where did you go to college? UT - Knoxville, and U.S.M. I suggest to everyone thinking of buying a precious metal. Buy one unit, record your price, and then sell it immediately, posting your loss on the board here. I'll bet you that the loss is a lot larger than you would think.
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