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Thinking of buying gold coins...

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If you actually look at charts of the price of ammo and gold over the last 20 years, you'd understand how incorrect that assertion is. I pay less for ammo now than I did 14 years ago (although not as little as I did almost 20 years ago). Gold is worth 5 times more than it was about 20 years ago. Ammo is about 2 times more than it was....

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Your chart is way behind the times. Spot gold is at $1650 this morning with the trend moving upward quickly tied to uncertainty in the world financial market due to fears of the Corona virus. Ammo prices are dropping again. Just got a sale notice this morning. Good time to buy ammo. Bad time to buy gold but that seems to be when gold sells the best.
 
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Gold dropped 5% or 75 bucks to currently $1584. It should have actually gone up 10% based on this weeks equity collapse. Disproving the theory of gold IMO. People probably dumping worthless paper securities but could be a realization it's not useful and over valued. That's a 15% swing to the negative - it should have gone up 10% but instead dropped 5%... Silver, similarly. Dropped this week.

Another theory is the 10% drop in stocks has forced margin calls and forced PM sales to cover margin calls, and probably some PM sales as investors try to buy "discounted" stocks. Expect a short rally, and another collapse... IMHO.
 
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I think theres an understanding that the recent drop in the stock market is without precedent and really without a good reason. It will rebound soon.
You might want to open a newspaper...

Probably 50% of the world is on lock-down, quarantine, work furlow, or otherwise nonproductive at the moment, and unable to produce or deliver goods or labor to the rest of the world. No end in sight, getting worse daily.

There's very valid reasons for the 10% drop last week, and futures are down going into tomorrow. Expect a deep bleeding and maybe halted trading this week, on overall very bad economic and health news.

Airlines, travel, trade, leisure, hotels, restaurants, all vacation resorts, health insurancers, many industries seeing supply shocks for labor and materials (autos, technology, etc.), and so forth. I believe some 95% of Fortune 500 companies are directly impacted.
 

gmerkt

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just don’t put it all in a safe, that’s the first thing a thief looks for and will remove from your house. I
This exactly.

Gold dropped 5% or 75 bucks to currently $1584. It should have actually gone up 10% based on this weeks equity collapse. Disproving the theory of gold IMO.
Not necessarily. With equities values dropping, some people had to sell their gold to cover margin calls. Also, for the past few months, the upward trend in gold has been driven somewhat by "stock market euphoria." So when equities fell, it was almost a given that gold would take some of this punishment. But look, it's already headed back up again. I still worry about the fast run-up. Not as much as I worry about lofty equities prices.

We can't really know the full danger to any financial instruments these days. There is so much credit and leverage that have been extended through derivatives and other imaginative schemes that any sense to it has gone away completely. Also, when money vanishes, central banks just replace it with a new supply.
 
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The Dow. Up 5.1% for the day . Almost 1300 points. Hmm. Is that the biggest gain ever in one day? I think it might be.
 
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The Dow. Up 5.1% for the day . Almost 1300 points. Hmm. Is that the biggest gain ever in one day? I think it might be.
And.... down 4% as I type this. Dead cat bounce yesterday.

Gold is up 5% today. $1650 / oz.

I don't place anywhere near that value on it. I'd rather have any of the following instead:
*2 months of food and dry good supplies to survive
*A urgent medical procedure
*An AR15, 10 mags, and 3000 rounds
*An extra working basic vehicle with a full tank of gas
*A working generator, with 300 gallons of fuel
*A quality handgun, 10 mags, and 2000 rounds ammo
*Equivalent value in medical supplies

Etc....
 
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And.... down 4% as I type this. Dead cat bounce yesterday.

Gold is up 5% today. $1650 / oz.

I don't place anywhere near that value on it. I'd rather have any of the following instead:
*2 months of food and dry good supplies to survive
*A urgent medical procedure
*An AR15, 10 mags, and 3000 rounds
*An extra working basic vehicle with a full tank of gas
*A working generator, with 300 gallons of fuel
*A quality handgun, 10 mags, and 2000 rounds ammo
*Equivalent value in medical supplies

Etc....
Kind of a low bar . So once you get all that stuff . What then?
 

gmerkt

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I'd rather have
So long as we're wishing for unicorns, here's my list:

A stable society where I wouldn't need gold or emergency supplies of any kind.

But I don't always get what I want. I'm a pessimist when it comes to thinking about bad stuff that the future may bring. So I have made some preparations for bad times. On the other hand, the optimist comes out in me when I see markets recover and "normalize" whatever that means. I'd like to see disaster or bad times come as distantly in the future as possible. I like being comfortable.

There are some people who almost wish for disaster. For the excitement, for the vindication of their views, or whatever. I'm not one of them. If my emergency stuff rots and never gets used, I'd be perfectly happy.

*An AR15, 10 mags, and 3000 rounds
leadcounsel, I'm not picking on you. I've just chosen to focus on the subjects you've listed. I like all the stuff on your list and there's nothing on it that doesn't in theory have a use.

The AR15, 10 mags and 3,000 rounds. The 10 mags part makes me think you believe there's a possibility that you might need all of these at one time. Or a significant portion, anyway. As one person, I figure I'd never need any single weapon with such a large quantity of ammo. Because any opponent would be stupid to come after me by himself, so I wouldn't need anywhere near that much ammo, the guy would quickly go away when he encountered resistance. And, if he came back with ten more guys, they'd take me out long before I could use up the 3,000 rounds in that scenario. Ditto the handgun with 2,000 rounds.

Having said this, I like having lots of ammo just because. But chances are great none of it will be used in emergency mode.

Equivalent value in medical supplies
Re. the medical supplies. There was a time when I figured this was a good idea. I have a US Army aid roll with basic tools and bandage stuff in it. And we have the usual first aid stuff around the house. Beyond that, the problems are these. If it was me that needed doctoring, how would I use these thing on myself in many cases? If it was someone with me, I'm not medically trained, I wouldn't be of much use. Bandages, I could make those out of clean bedsheets. And the army taught me how to give first aid treatment to a sucking chest wound but most people don't have the plastic off of cigarette packs anymore to do that with. My point, med. supplies in the hands of the untrained don't have a lot of value except maybe for trade. One of my daughters is an RN, but in a crisis she is not likely to be anywhere nearby.
 
OP
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Your chart is way behind the times. Spot gold is at $1650 this morning with the trend moving upward quickly tied to uncertainty in the world financial market due to fears of the Corona virus. Ammo prices are dropping again. Just got a sale notice this morning. Good time to buy ammo. Bad time to buy gold but that seems to be when gold sells the best.

It's a few months old, that's not "way behind the times" :rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

Even at rates a few months ago, gold has still out performed ammunition, so the guy who I was responding to and your argument as well are wildly unfounded and you have zero anything to back your guys' claims up.....I've actually posted something that proves you wrong but keep pounding that chest...
 
OP
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So I decided against buying gold. It has only gone up in value 1% over the last few decades accounting for inflation. While it's better than cash, it is by no means an investment or a way to protect your cash. My cash on hand will deflate a little bit for buying NEW goods, but it keeps it's value for paying off existing debt....like my rental property mortgages.
 
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So I decided against buying gold. It has only gone up in value 1% over the last few decades accounting for inflation. While it's better than cash, it is by no means an investment or a way to protect your cash. My cash on hand will deflate a little bit for buying NEW goods, but it keeps it's value for paying off existing debt....like my rental property mortgages.
And that increase is gobbled up in buy/sale commissions and arbitrage.
 
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It's a few months old, that's not "way behind the times" :rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

Even at rates a few months ago, gold has still out performed ammunition, so the guy who I was responding to and your argument as well are wildly unfounded and you have zero anything to back your guys' claims up.....I've actually posted something that proves you wrong but keep pounding that chest...

So post what youre talking about. Its still a bad time to buy gold. This happens every cycle where the price of gold relative to the dollar goes up and everyone starts buying gold up like crazy because thats apparently the time to buy? When its more expensive? then a few months later whatever international crisis caused the spike goes away and the price of gold drops 25% again/ THATS the time to buy gold. Not now.
 

Camelfilter

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  • Law Around Here
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So post what youre talking about. Its still a bad time to buy gold. This happens every cycle where the price of gold relative to the dollar goes up and everyone starts buying gold up like crazy because thats apparently the time to buy? When its more expensive? then a few months later whatever international crisis caused the spike goes away and the price of gold drops 25% again/ THATS the time to buy gold. Not now.
Yup.

Now is the time to sell gold.
 
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Silver is a better buy.
I have to disagree; I picked up $1500 in Ag a couple years back as a fun way to hold onto some cash for a bit and it tanked 30% right after I bought it. It took a year to get back to breaking even and that had to be a little higher as dealers will charge a buck an ounce or so to buy it and a buck an ounce to sell it. Buy something better.
 

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