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Silver is a better buy.
Agreed. We keep about 15% of our liquid assets in investment grade bullion. Some gold, a tiny bit of platinum, but mainly silver.
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Silver is a better buy.
The good thing about assets like gold. cash, real estate etc is when you get real old and guess what...SHTF or The Rapture never happen ...you can sell off all that junk to keep yourself alive for a few more years in the nursing home. They dont take payment in ammo or eggs or MRE's.
Sorry to inject reality into the discussion.
I'd invest in ammo any day over silver or gold. It is likely to have a higher ROI than silver or gold and it will actually be useful if anything catastrophic happens. On top of that, common ammo is unusually inexpensive at the moment. I don't expect that to last.
I'd invest in ammo any day over silver or gold. It is likely to have a higher ROI than silver or gold and it will actually be useful if anything catastrophic happens. On top of that, common ammo is unusually inexpensive at the moment. I don't expect that to last.
Just noticed it's $1620 an oz this morning.
As a hedge against werewolves no doubt.I get two silver ounce coins every Christmas from my parents, they do the same for my kids as well (4 kids). When I turned 20 I started buying silver bullion (1once at a time) and as I got older I started buying silver bars (10oz). I keep them in sealed worn looking pales that can be gunned in plain sight, LOL. One time I was going to cast some lead bullets and grabbed the wrong bucket and almost made an expensive mistake.
From what I understand, the Canadian Maple Leaf is 100% gold as opposed to the American Eagle/Liberty coin that is .999999 22k.
-I want to keep some money off the books away from government
-How do I protect myself from getting ripped off even buying from a reputable gold coin dealer in Bellevue? What is a foolproof way to test the gold?
-What is involved in selling gold, will a dealer charge me a fee to buy back?
-What are some of the risks of owning gold?
a banker buddy of mine said "gold is for major investors" not the average citizen
Silver is a better buy.
5k in 2009 bought 500 oz silver (@$10/oz) - By 2011 that same 5k/500 @10 went for nearly $50/oz. $5k got you $25,000.
5K of gold in that same period (@1k/oz.) in gold only brought $1,750 an oz - or $8,750 for that same 5k investment
Value is akin to antiques. If everyone likes it / wants it, its valueable. When everyone decides they don't like / want that anymore, value drops.
Just looking at the last 8 years after a spike, both silver and gold have lost a LOT of value. And their volatility seems arbitrary and unpredictable.
I honestly am kicking myself whenever I think of Apple, Amazon, and Bitcoin. I nearly invested in these and wish I would have, or course. Oh well...
Stay away from numismatics
The best investments are the ones which generate revenue.
I would recommend that if you are buying precious metals stamped in to coins that you only buy the coins for the value of the actual precious metal therein, not the additional costs of stamping etc., which you won't get back when you sell them (unless you can find someone else who is willing to throw some money away by buying coins at their 'higher-than-billet' price). When you sell it, you will most likely be selling them for the value of the metal by weight alone, not any additional perceived value from them being stamped out in coin form. I strongly share the recommendation of the posters who recommend buying billet metals instead of stamped coins. If you are buying coins at anything other than the straight metal price, you're paying a premium (read: giving your money away) just for having them in coin form, and you're not likely to ever get that back.
The good thing about assets like gold. cash, real estate etc is when you get real old and guess what...SHTF or The Rapture never happen ...you can sell off all that junk to keep yourself alive for a few more years in the nursing home. They dont take payment in ammo or eggs or MRE's.
I'd invest in ammo any day over silver or gold.
Why can't you sell ammo in your twilight years?
Just noticed it's $1620 an oz this morning.
My sad confession....I almost went to work for Microsoft in 1986.
In those days, new hires HAD to buy 5 shares of company stock, which was taken out of your first cheque.
In 1986, whole stocks of Microsoft sold for $10 a piece.
I turned down the job because, not knowing what a "Mircrosoft" was, it sounded like a pyramid scheme to me and I had so many bills that needed attention, I couldn't spare the $50.
....
Allocate no more than 5% of assets towards precious metals. It's only an inflation hedge. Don't follow the "doomsday" forecasters--if it really came down to Armageddon gold wouldn't matter anyways. Simply have a small amount invested in physical bullion or ETFs so you can sell when the price climbs high. Anything past that should be treated like a hobby.
<-- MEMy in-laws bought hundreds of shares of MS early on over a period of time. It has gone up over 8000% since then...
A lot of great information here…From what I understand, the Canadian Maple Leaf is 100% gold as opposed to the American Eagle/Liberty coin that is .999999 22k. Local coin store has them for $1,609 an oz. which is $20 a coin cheaper than AMPEX...
I'm considering buying gold because:
-I have a portfolio of rental real estate, stocks and cash in the bank. That cash is sitting waiting for buying opportunities. I'm losing some money on the value of it (it is in a high interest savings and CD but still not up to par with inflation).
-I want to keep some money off the books away from government and away from home without it losing it's value due to inflation. Enter the reason I want to buy gold.....
-This has been recommended as a part of a balanced investment portfolio anyways as it does well when the economy tanks. Asset classes don't move in tandem. When stocks are doing well, gold usually goes down (and you use cash to buy more gold). Then when the stock market tanks you cash out the gold and buy more stocks at a discount).
Questions:
-How do I protect myself from getting ripped off even buying from a reputable gold coin dealer in Bellevue? What is a foolproof way to test the gold?
-What is involved in selling gold, will a dealer charge me a fee to buy back?
-I looked into AMPEX online to buy gold but the shop in my area is cheaper and I'd rather not have it shipped.
-What are some of the risks of owning gold?
-Is it better to keep in safe deposit box or look into...alternative storage solutions...
I'd invest in ammo any day over silver or gold. It is likely to have a higher ROI than silver or gold and it will actually be useful if anything catastrophic happens. On top of that, common ammo is unusually inexpensive at the moment. I don't expect that to last.