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Joined: Sep 2021
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Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
Posts: 4,230 Likes: 13 |
Gold has been a poor investment for the last 3 decades.
It is an immensely portable asset though. If you are worth tens of millions, and trying to preserve wealth, you could make an argument.
If you are trying to grow wealth don't even try to make an argument. Yep. Diamonds as well. But they both make lousy investments.
Si Vis Pacem, Para Bellum
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Joined: Jan 2011
Posts: 2,290 Likes: 1
Campfire Regular
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Campfire Regular
Joined: Jan 2011
Posts: 2,290 Likes: 1 |
Gold has been a poor investment for the last 3 decades.
It is an immensely portable asset though. If you are worth tens of millions, and trying to preserve wealth, you could make an argument.
If you are trying to grow wealth don't even try to make an argument. Gold has been a poor investment for the last 3 decades.
It is an immensely portable asset though. If you are worth tens of millions, and trying to preserve wealth, you could make an argument.
If you are trying to grow wealth don't even try to make an argument. I won’t try to make an argument….. merely an observation…..that “the times we are in make a difference.” I started investing in 1998. Gold was about $294 per ounce and today is $1950. So, in that time period gold has “gone up” by a factor of 6.6 In 1998 the Dow was about 9500….today it is at 33,000. So, in that time period the Dow has “gone up” by a factor of 3.5. How much inflation have we seen on the past three years? What do think inflation is going to be doing over the next few years? The choice of precious metals vs ammo vs real estate is not one or the other, it is a choice of diversification or not. Y’all make your own choices…..
Last edited by TF49; 10/19/23.
The tax collector said: “Lord Jesus, have mercy on me, a sinner.” Jesus said he went home “justified.”
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Joined: Jan 2012
Posts: 26,719 Likes: 13
Campfire Ranger
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Campfire Ranger
Joined: Jan 2012
Posts: 26,719 Likes: 13 |
"How much inflation have we seen on the past three years? What do think inflation is going to be doing over the next few years?
The choice of precious metals vs ammo vs real estate is not one or the other, it is a choice of diversification or not.
Y’all make your own choices...."
My sentiments
FJB & FJT
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Joined: Jul 2015
Posts: 14,807 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2015
Posts: 14,807 Likes: 5 |
Gotta remember that the government once made it illegal to hold bullion. They might do it again. Coins were still legal to hold IIRC. Only ancient coins were still legal. All US gold coins and bullion were supposed to be turned in. Only like 2% of gold in private hands was actually turned in, though. Banks all turned in their gold (which got melted into big bars), but private citizens didn't, for the most part. They just kept it in the family, generation to generation, till it was legalized again forty some odd years later. Banks broke into safe deposit boxes to assist with the confiscation.
Politics is War by Other Means
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Joined: Dec 2020
Posts: 197
Campfire Member
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Campfire Member
Joined: Dec 2020
Posts: 197 |
Janet Yellen said the dollar is strong. BIDENomics is going exactly as planned. Only an IDIOT would buy gold. Our Federal Reserve has our BEST INTEREST at heart.
It doesn't matter who gets more votes, It matters who counts the votes.
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Joined: May 2021
Posts: 937
Campfire Regular
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Campfire Regular
Joined: May 2021
Posts: 937 |
I'd buy a one ounce gold bar as a novelty.
If you buy gold coins, buy foreign currency. Your own government wouldn't have a claim to it.
U.S. government was established to represent citizens, NOT TO RULE OVER THEM.
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Joined: Aug 2001
Posts: 2,895 Likes: 2
Campfire Regular
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Campfire Regular
Joined: Aug 2001
Posts: 2,895 Likes: 2 |
Experts say make Gold/Silver about 5-10% of your portfolio . Yup !!
"The older I get, the better I was"
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Joined: Feb 2010
Posts: 16,189 Likes: 5
Campfire Ranger
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Campfire Ranger
Joined: Feb 2010
Posts: 16,189 Likes: 5 |
Land, guns, ammo, stocks, bonds, cds, gold, silver can all be good tools in your investment/wealth accumulation strategy. Don't put all your eggs in one basket.
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Joined: Jun 2002
Posts: 132,102 Likes: 66
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,102 Likes: 66 |
Gotta remember that the government once made it illegal to hold bullion. They might do it again. Coins were still legal to hold IIRC. Only ancient coins were still legal. All US gold coins and bullion were supposed to be turned in. Only like 2% of gold in private hands was actually turned in, though. Banks all turned in their gold (which got melted into big bars), but private citizens didn't, for the most part. They just kept it in the family, generation to generation, till it was legalized again forty some odd years later. Banks broke into safe deposit boxes to assist with the confiscation. They sure did.
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Joined: Feb 2001
Posts: 50,683 Likes: 3
Campfire Kahuna
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Campfire Kahuna
Joined: Feb 2001
Posts: 50,683 Likes: 3 |
Gold has been a poor investment for the last 3 decades.
It is an immensely portable asset though. If you are worth tens of millions, and trying to preserve wealth, you could make an argument.
If you are trying to grow wealth don't even try to make an argument. Sorry, but 30 years ago spot was $360 roughly. For the peace of mind and the price keeping up with inflation I am very happy with my purchases.
Last edited by Sitka deer; 10/19/23. Reason: Friggin' autocorrect!
Mark Begich, Joaquin Jackson, and Heller resistance... Three huge reasons to worry about the NRA.
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Joined: Feb 2001
Posts: 959
Campfire Regular
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Campfire Regular
Joined: Feb 2001
Posts: 959 |
I like gold. I like Krugerrands. Do you want to buy half a dozen at $1,990.00 each?
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Joined: Nov 2002
Posts: 33,857 Likes: 21
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,857 Likes: 21 |
I have never owned gold and never will. For those that do own it, what is the basis (how much) for the SHTF scenario?
Conduct is the best proof of character.
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Joined: Sep 2021
Posts: 4,230 Likes: 13
Campfire Tracker
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Campfire Tracker
Joined: Sep 2021
Posts: 4,230 Likes: 13 |
In 2012 the average gold price was $1,668.86. Toss 10 years of inflation on that and the current price of $1964 isn't so glamorous. It has just barely held its value.
But as stated gold isn't an investment it's a hedge again a SHTF scenario. Whenever that happens...
Si Vis Pacem, Para Bellum
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Joined: Feb 2001
Posts: 4,047
Campfire Tracker
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Campfire Tracker
Joined: Feb 2001
Posts: 4,047 |
I used to own gold and silver. Both bullion and junk. But, a tragic boat accident......
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Joined: Jun 2002
Posts: 132,102 Likes: 66
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,102 Likes: 66 |
I used to own gold and silver. Both bullion and junk. But, a tragic boat accident......
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Joined: Jul 2010
Posts: 8,580 Likes: 7
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2010
Posts: 8,580 Likes: 7 |
Gold & silver are speculative.
Above spot at purchase...below spot at sale. Unless trading for goods.
The best way to accumulate gold & silver .... is to inherit it.
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Joined: Jun 2002
Posts: 132,102 Likes: 66
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 132,102 Likes: 66 |
Gold & silver are speculative.
Above spot at purchase...below spot at sale. Unless trading for goods. Like the commission for going in and out of stocks. PS You can avoid the premium, though, with gold and silver, by merely paying for services with them, based on their actual purchase price. In other words, you get your car repaired at a mom and pop garage, and you ask the owner if he would like payment in gold or silver. If he's interested, you go online and look up the going price for whatever form you own of those metals (i.e., what he'd have to pay if he wanted to buy them) and show it to him. If he agrees on accepting them at that valuation, then you make a deal. That way, you get the full market value for your coins, absent the premium you'd lose if you sold it to a metals dealer.
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Joined: Nov 2004
Posts: 10,097 Likes: 15
Campfire Outfitter
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Campfire Outfitter
Joined: Nov 2004
Posts: 10,097 Likes: 15 |
I wish I would have bought more a few weeks ago but i was busy buyng guns and optics. I realize gold isnt the best investment but I see it as a store of value and insurance of a sort. I stay in the 10-15% of net worth range. Good barter material once the government digitizes all currency or after the dems destroy the dollar. I also keep ammo, reloading components, and a good stash of casting alloys and food storage.
Bb
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Joined: May 2001
Posts: 18,354 Likes: 2
Campfire Ranger
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Campfire Ranger
Joined: May 2001
Posts: 18,354 Likes: 2 |
I'd buy a one ounce gold bar as a novelty.
If you buy gold coins, buy foreign currency. Your own government wouldn't have a claim to it. Until they say they do.
Carpe' Scrotum
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Joined: Apr 2006
Posts: 9,611 Likes: 8
Campfire Outfitter
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Campfire Outfitter
Joined: Apr 2006
Posts: 9,611 Likes: 8 |
The challenge w/gold is having a "spendable" size piece to use as payment. If we're in some sort of situation where you're paying for goods and/or services with physical gold, the price of things is going to be whatever size chunk you've got. Nobody is going to wait while you carve 1/4 Oz off your gold bar, they're going to want the gold bar.
I can walk on water.......................but I do stagger a bit on alcohol.
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