Investing into gold

[The LudophileParticipant 187]

I have been seriously considering putting some of my cash into gold and other precious metals. Have any of you done this as well? If so, which sellers/products do you recommend?

"There is no bad weather; only wrong clothes." ~ Scandinavian saying "I'm happy to see that the U.S. is abandoning the savagery and lies of religion more and more each year. I'm sad to see that politics and feelings are taking religions' place." ~ Me "Do not date. Do not impregnate. Do not co-habitate. And, above all, do not marry. Reclaim and never again surrender your personal sovereignty." ~ OldBill

[Greg SilveradoParticipant 172]

Silver is your biggest bang for the buck period gold is great if you don’t have a lot of room to store silver. If you live in the United States it’s best to buy Gold Eagles or silver eagle because there is no 1099 when you go to cash them in. I bought at around $200 back in 1999 and that was a pretty good deal. You can average out your price by buying a little bit every month but then your profit gets eaten up in premium. I would stay away from bullion and stick to coins. If you’re going to do this invest in a floor safe and I literally mean one that sits in the floor. If you think that it’s going to hit the fan look at buying barter items. Truly though if the s~~~ hits the fan gold is great but guns are better.
MBR

Always expect the unexpected and gird your loins appropriately. It's a no-fault jungle out there.

[BadgerParticipant 2277]

I have been investing in precious metal stocks since 1998. Despite some ups and downs, I have done well. They appear to be on the rise again.

[hmskl’dParticipant 6422]

I definitely believe in stacking precious metals. Despite this years 20.4% rise (ytd) .. I see gold as a long term hold. Anything I ever collect I plan to hold extremely long term and very likely never sell. So what’s the point in buying an asset and never plan on selling? It’s preservation of some of your work, your daily labor in the form of a beautiful and appreciating precious metal in your possession.

[The LudophileParticipant 187]

Great! Thanks, guys! Another reason I’m looking into this is if I decide to leave the country in the future due to political downfall or economic troubles, it seems like dealing in precious metals is going to be far more straightforward than having to convince a foreign bank to convert my now-worthless dollars. I know that sounds a bit crazy, but things are not going too well here in America. Better to plan for the future with only “a bit crazy” than not be prepared.

"There is no bad weather; only wrong clothes." ~ Scandinavian saying "I'm happy to see that the U.S. is abandoning the savagery and lies of religion more and more each year. I'm sad to see that politics and feelings are taking religions' place." ~ Me "Do not date. Do not impregnate. Do not co-habitate. And, above all, do not marry. Reclaim and never again surrender your personal sovereignty." ~ OldBill

[Y_Participant 4591]

@TheLudophile

Hi and I believe physical gold and silver is a must-have for the simple reason that the dollar system cannot last much longer. How much is up to you. Many experts on the field suggest 10 – 15% of your savings as hedge.

Before you buy study first this particular book
“Guide to Investing in Gold and Silver” by Mike Maloney and his “Hidden Secrets of Money” series on Youtube. I posted the first vid of this 6-parter on this forum some time ago.

Also Jim Rickards’ “A New Case for Gold” is a must if you want to understand the long term monetary issues.

If you decide you want some then PLEASE BUY PHYSICAL – STAY AWAY FROM PAPER S~~~!!!

To answer your question on leaving the country some bullion sellers (like Mike at GoldSilver.com) are able to store your bullion in other areas of the globe so you can pick them up there. Give them a call to see how that’s done. You can transfer the gold from one vault to another for a fee, and there are storage charges.

The guys here will help you out if they can.

Good luck and hope you do well. Peace.

[ResidentEvil7Participant 9617]

Y_ wrote:

<a
Before you buy study first this particular book
“Guide to Investing in Gold and Silver” by Mike Maloney and his “Hidden Secrets of Money” series on Youtube. I posted the first vid of this 6-parter on this forum some time ago.

I have that book at my local library and I just reserved it. Now the part that bothers me about that book is that it was published and released in 2008. It’s now 8 years later and the economy and the value of gold/silver is different than it was then. Remember the economy fell in late 2008; maybe after the book was published. But I still reserved a copy anyway, just in case if any information from that book could still be useful.

I’m starting to consider investments. I figure if no one wants me to work for them anywhere ever again, then I should just take my SSI ($488 a month, just got paid for June) money and put it towards something that can grow, and whatever money comes in, goes into the investment. I have only $3,000 + the value of that gaming PC I built when I sells; let’s see what I can do with that.

I don’t know what the price of gold and silver is in 2016, but I know it’s not worth 0 and if it’s too expensive to buy, then I won’t until I becomes a deal. But how do you know when it’s a good enough deal because that is something people usually don’t pay attention to closely?

https://themanszone.webs.com/

[BadgerParticipant 2277]

Websites like 321gold.com, Safehaven, com and Stockhouse.com have insight into the current state of the precious metals markets. The best commentators on those sites are Adam Hamilton, Ron Rosen, John Hussmann, Stewart Thomson, Doug Noland, and Egon von Greyrenz. They have developed strategies and indicators that tell when the general stock market is overvalued or undervalued. The Gold Newsletter by Brien Lundin also is a reputable source of information about the precious metals market. I have used these sources for over 15 years with success.

[Y_Participant 4591]

Nice to know you guys.

@residentevil7 the book I mentioned has been reprinted in 2015 BUT you do not have to worry – there are some updates in the book which you can easily catch up on in Mike’s vids on Youtube and these are minor and do not affect the material in the original.

I will give you my opinion on this topic. Thanks to @Forewarned for the excellent references.

Gold and Silver are real money as they are a store of value that is set by the free market. When, not if, the fiat paper currency system collapses these two will be the only items that people will accept as money. It is a hedge for that day which the real experts say is coming very soon – most of them say by the end of this decade. The bond markets are already in trouble. When the crisis of 2008 hit see what gold and silver did.

The price of gold is about USD1240/oz and silver USD $16/oz today. You are better placed to buy silver than gold. Silver usually outperforms gold – as in the crash of 2008. A very small amount of gold is however always good in my opinion.

If you expect to make quick returns then you will be disappointed. Physical gold and silver are long term assets due to the spread of buying and selling and the banks currently holding the price down. Just look at the charts from 1971 until now fr the steady rise of these two metals over the long term. I usually use http://goldprice.org/spot-gold.html for just looking at spot prices. Kitco.com is also good.

Unless the crash is around the corner you will have to wait for the price rise. The problem is once the price starts to rise you won’t be able to get any. Gold and silver are the only real financial protection in a market crash.

If you are able to set aside the nominal 10 – 15% that should cover your losses elsewhere in a financial meltdown.

Get a good bullion dealer – this is also critical.

Above all learn about the currency system so you know how to protect yourself financially.

I believe after reading about real money you will be able to decide whether this is for you or not. All the best my friend. Peace.

[ResidentEvil7Participant 9617]

I’m going to have to read up on this stuff just to understand how to be fiscally secure. Since I know nothing about gold/silver investments, it’s best to read up on the subject. I mean this stuff is confusing if you don’t know enough about it.

I was checking on eBay for the price of gold. I wonder if $47 for a gram of Istanbul gold is a good price, because that’s what one auction ended it at. I don’t know the conversion of an ounce to a gram and the dollar values.

https://themanszone.webs.com/

[Y_Participant 4591]

one oz = 31.1 grams approx
31 x 47 = USD $1457 – too high
You should be paying about 2% above spot price

Look up gold and silver sport prices on
http://goldprice.org/spot-gold.html

They have oz to gram conversions
Current spot price = USD$1212 per oz
You should be paying USD$1212 x 1.02 = USD$1236 per oz

Silver is more expensive to buy over spot ~ 1.08 as an average.
Buy silver at USD$16 per oz x 1.08 = $17.28 pr oz

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