Home Forums Hunting & Shooting Hunter's Campfire Physical Gold

Yep.

Gold and art, that's what the rich have used to come out the other side on good terms for millenia. You can cut a painting out of a frame and roll it up and you can take a few chests of gold. Not as am investment, but to be ahead of the game on the other side.

This is true. I started buying heavy in 2008 when silver was around $9. I tried to get friends to buy some and was even selling quite a bit at gun shows. I'd buy 3 monster boxes to get a lower premium on days when it dipped and then I'd wait until it came up a buck or so and sell most of it keeping 100 or so ounces each time for myself. At one point I had 6000 ounces then I listen to Dave Ramsey and sold a lot off to pay off debts.

Around 2010 to 2011 the price really started to rise. When it got up to about $40 an once it seemed like all my friends and family started to call me and tell me they were finally taking my advice and getting into silver. I told them all to stop it that they were supposed to buy 2 years ago when I did and that there was a good chance this was a temporary spike and it would crash soon. I'd pretty much quit buying at that point except for a few big deals I did quick flips on. My average cost on my silver was sitting at about $12 because I'd really slowed down my buying as it rose. When all the people that thought you were nuts for buying start buying that's usually a good time to sell.

If you buy at $22 now and it goes up to $50 just be sure not to try to sell it on the fire for say $45 or the fairness police will call you a scalper and every dirty name in the book for asking under current market value because they know you paid less so many years ago.

Bb

Lots of discussion here for and against, but I see it as a hedge, to preserve one’s net worth. Precious metals, arms and ammunition, food, water and shelter are not mutually exclusive, and neither should they be.

"At one point I had 6000 ounces then I listen to Dave Ramsey and sold a lot off to pay off debts."

Dave says that buying silver and gold is stupid.

The eagle with the snake in his beak, the symbol of Mexico.

My "investment guy" prefers gold over silver, but doesn't scoff at silver.
Gold is a good way to carry a large sum in a small package.
Silver prices fluctuate at a higher rate than gold.

Diamonds are a pizz poor investment. There aren't that many people who can reliably assay diamonds.
All you need for gold or silver is a scale.
The metal market will determine the value.
I got into metals a bit late in life.
We have quite a bit of silver we paid $12/$13/oz for. We've never paid over $20/oz for any silver. Yep, been a while since we've bought any!
First gold we bought was 1/4 oz coins. Paid less than $150/ea. They're now worth over $250/ea.
That's not a bad investment! 😉

wonder if it will hit 2000 today

If it does the big players will naked short it down to 1850.

Years ago when I worked at a gold mine, once a year that had a "gold sale". You could buy nuggets and specimens that the geologists had collected throughout the year. We paid spot price and I believe I dropped around $1k buy 3-4 nuggets and a couple specimens. That was in 2002 when spot was around $300/oz. I wish I'd bought more. Still kicking myself for not buying a couple Kuggerand at that time.

I also got into collecting silver rounds and other coins various mines minted. Silver was around $5/oz back then. Again, I wish I had bought more.

Silver is a higher risk asset vs gold, but makes massive gains more likely, due to volatility on both the way up and on the way down. In other words, when gold is down, silver is way down vs its 20 year average, while when gold is up, silver is way up vs its 20 year average, therefore the same amount of money invested in silver when it's at long time lows will generate a much higher profit (10X isn't unusual) than can be had by investing in gold when it's at its long time lows.

The key to knowing when to get into silver is to take note of the gold to silver ratio. Above 80 is a great time to accumulate silver, while below 60 is a good time to stop accumulating silver, and below 50 is a good time to start accumulating gold.

Very good possibility….. in the short term, the gold market is either “rigged” or at the mercy of the “big players.”


I have never been very good at picking short term high and low points in the gold market. Just can’t do it.

Once I started to buy at what I thought was a low point….. turned that the gold price kept going lower and lower….I would buy in again and again at ever lower and lower prices….. losses began to pile up….then, after a number of months, the long term trend came back and this short term “buy in increments” strategy paid off pretty good.

For me, the long term buy and hold strategy works well for physical.

I will once in awhile play in gold stocks or options. For stocks, one has to be a judicious stock picker….For options, usually only go for long dated calls so I can hold long enough for the long term trend to show and provide profit.

Note: One will not care very much if he bought gold at $1600 or $2100 when the gold price is $3200.

Gold just exceeded $2,000.00.

This. They don't like gold to climb above 2,000 because it harms their US Dollar denominated investments. But they can play that game only so long, and will eventually lose the ability to suppress gold.

I thought it might.

The Kitco page shows it at $1989.

APMEX says it just dropped back down to $1,999.70. Was above earlier this AM though.

APMEX now says back above $2,000.00.

Some big players are trying to push it down below, and it's bouncing back up again on its own steam.

Up $19.60, just in this morning's trading.

Provident metals shows $2000.17/oz.