Physical Gold and Silver investment ?

[JJ78]

Are there any investors out there?

What do you think about the price of Gold and Silver right now?

Thinking of going out and making a sizeable purchase of Gold and Silver coins/bouillon this weekend.

Good buy right now?

Chart:

Gold - @GC.1 - Stock Quotes

Advice?

I just feel that the stock market is in for a big correction soon. I used to trade, but have been out of the game for quite a while.

My grandmother, who is living with me and the wife now, just came into some money and wants to invest. I just do not feel confident in the market. Inflated?

[Times Roman]

gold and silver are good hedges when the value of the dollar declines.

since gold and silver really have nothing to do with securities (stocks, bonds) as they are more a commodity, an actual thing. Stocks/bonds represent ownership/receivable of a company.

The correlations between gold/silver is lower with market fluctuations than they are with monetary valuation fluctuations.

If you feel the dollar will slide compared to other national monetary values, then maybe a good time to invest in gold/silver.

[JJ78]

That is exactly how I feel TR. I have little confidence in the dollar. We have spread ouselves to thin, plus the new Quanitative easing as of yesterday.

Nana wants to invest about $50K in something. I just feel haveing the Gold/Silver as a tangeble asset, it is much safer than a high dividend mutual fund or stock.
The market always corrects itself.

If you have $50K worth of coins or jewlery, you can always go down the street and cash it in, plus noone can seize it.

[JJ78]

Plus about $20K worth for myself and the wifey.

[Times Roman]

Jewelry is NEVER an investment grade vehicle!!

Personally, if it were me, I'd buy a small rental property for the rental income and the write-offs (you are her property manager, right?), or just stick the money in a higher yield CD.

Nana should never invest in anything with risk at her age. She has no time left to recover her investment if there is a devaluation.

Or is this something she is doing for you, like an early inheritance?

[JJ78]

Well to be completely honest, the first stop is the gun show, and then whatever is left we will purchase some gold/Silver

[Times Roman]

OK. so this is NOT for Nana, but you and the wife instead

[JJ78]

No, this is for her. She just sold her house, and collected about $150K. She has never had that kind of money. I guess eventually it will be mine, but she is pretty healthy @ 84.

Rental property was something the wife and I have been discussing, but in Vegas right now there is so much competition for houses. We were thinking about a condo, but?

[JJ78]

I have my own money that I will use to purchase some as well.

[JJ78]

We have been saving for a while and I hate to see it just sit and not earn.
The gun show is my bday present taht I never got from the wife

[JJ78]

We bought a house in September and she moved in with us from FLa in October. We are investing our own money into some renovations to make the living situation more codusive.

Basically turning a large living/dining downstairs room into a master suite for her, as well as us in the value of the home.

We have asked her for nothing, I always wnted her with us, but never had the house. i couldnt stand the thought of her all by herself all the time.

[JJ78]

But the real question, What r ya'lls thought on Gold/Silver as an investment. Gold is $320 off its highs. Silver $25 off highs.

[LGM]

1. Gold is apparently at the end of it's bubble, and if you buy now you'll be losing money in the long run when the bubble busts.
Gold: The fear bubble bursts | Felix Salmon
2. There is a shortage of actual gold; if you buy it make sure you walk away with the gold in hand, and not the cert that says you own it. There's been a lot of panic buying recently in Asia, and a number of reports lately that this shortage is about to get worse.

I can understand the desire to hedge one's bets against the dollar or the economy at large, but buying gold right now with the shortages and possible bubble it's created seems fairly dangerous to me. Just my 2 cents.

[JJ78]

It would absolutely be in hand. Thats what I'm talking about. Coins, Bouillon, bars. Wouldnt lack of supply drive the price higher?

[LGM]

It would absolutely be in hand. Thats what I'm talking about. Coins, Bouillon, bars. Wouldnt lack of supply drive the price higher?

You'd think so, but most economists at Forbes and others places think it's not going to re-inflate, but stay stagnant. Mostly due to mining issues (think oil; the higher the price, the more cost effective it is to search/drill for smaller, more cost intensive wells.); gold mining has taken a beating lately, and with the dip in pricing and lack of inflation will keep it stagnant or dropping for a while.

Just what I've read of course, and I don't suggest taking anyone's word for it; obviously you've done your research.

[evander87]

As an investment, it has it's place in a well diversified portfolio. Correct me if I'm wrong but I don't get the sense you have a diversified portfolio. Are you looking to make a quick buck? Go to vegas and put it on black.

[Granovich]

i heard silver is the best thing to invest in now, because world already used big percentage of it and prices are going to double if not more soon
i would pick that instead of Gold.
too bad i dont have alot to spare
between pregnant wife and house mortgage and 2 car finance and bills AND HGH LOL
its crazy

[LGM]

Right now if you invest in gold, you're betting that the US sees rises in inflation; and the Fed has proven that higher inflation rates are something it is absolutely NOT interested in allowing for any reason.

Silver might be a better short term investment, but as evander said above, you really should diversify.

[JJ78]

No portfolio to speak of. And I live in Vegas, so if I wanted to shit away money I live about 8 minutes from the strip.

Not a quick buck, but not necessarily long term either. Security more thn anything

[JJ78]

What r some other options then?

[LGM]

What r some other options then?

I'd seriously talk to a few brokers and see what they suggest mate. They usually have spread sheets and software that will answer your risk level questions, and help you figure out what you want to do with your money. And if you have a percentage of gold or silver in your portfolio, you can always ask them to help you avoid certs, or just keep the money they would invest in precious metal certs and help you buy physical metals.

[evander87]

No portfolio to speak of. And I live in Vegas, so if I wanted to shit away money I live about 8 minutes from the strip.

Not a quick buck, but not necessarily long term either. Security more thn anything

Why not start building a portfolio? Invest in mutual funds. Great way to start out and you're diversifying right off the bat.

[Knockout_Power]

It is a decent price right now to stock up on. I have to buy half a pound every month for the business, so these huge shifts can be costly to me.

[jimmy726]

Please buy gold it helps me out

[JJ78]

Why not start building a portfolio? Invest in mutual funds. Great way to start out and you're diversifying right off the bat.

I just feel that the market has hit its peak, and is due for a correction. Of course I do not know what Im talkin about.

I was a series 7 trader at a daytrading firm back in '99 @ 19. and I remember the bubble bursting back then.

I feel that these highs in the market at this time are bs. The economy is in the toilets, but the market is the highest in history? not much supporting it.

I'm probably gonna buy some Gold and Silver and see what happens in the next 3 months to the market. I just want to do the right thing for the grandma.

[Knockout_Power]

I'm probably gonna buy some Gold and Silver and see what happens in the next 3 months to the market. I just want to do the right thing for the grandma.

its good for 2 things...

1) if you watch the markets frequently, its a good way to make money
2) holding gold (not so much silver) is always good when things fall out.

If you do trading for money with gold, dont get too greedy. A good rule is buy when it gets between 1450-1500 and sell as soon as it hit 1775 again. Yes it will go lower, and yes it will go higher, but these are safe number to play in. Nothing wrong with making 300/oz if you hold a good amount (50-100). If you can do this even once a year, you're making an extra 5 digits. Not too shabby. Good rainy day fund

[JJ78]

Knockout,

That is what I was thinking. Buy @ 1480-1500 hopefully it hits its high again at 1800 within the year. Sell.

I was going to purchase roughly 10ozs @ $1500-- $15K goes up $300 per oz Thats $3k on $15K investment. Not bad. If it goes up, which I definitly think it will at least go back to $1800.

Other option for the grandma is a High dividend paying mutual fund. Where she can bring in $4K-$6K a year in dividend payments. But again, I would feel like shit if she lost half her money when and if the market takes a nose dive like it did back in '09

She already has a few gold coins, and she wants more, so we will be buying some this weekend.

Thinkin about going to see the Pawn Stars. She is a fan.

[belva]

I read somewhere a news the other day that the chinese house wives stop the gold price rebound. so I bet that parts of the world would always be attracted to invest on gold.


Chinese mothers beat Wall Street to force gold price rebound | South China Morning Post
Chinese housewives buy 300 tons of gold - The Tell - MarketWatch

[Knockout_Power]

China has always been the major player in the gold market. They are taught from birth to invest in gold, not currency. Governments fall, economies tumble, but someone somewhere wants gold. This is the only reason Gold has gone up 300% in the last 6 years while countries and currencies have fallen.

[lovbyts]

That is exactly how I feel TR. I have little confidence in the dollar. We have spread ouselves to thin, plus the new Quanitative easing as of yesterday.

Nana wants to invest about $50K in something. I just feel haveing the Gold/Silver as a tangeble asset, it is much safer than a high dividend mutual fund or stock.
The market always corrects itself.

If you have $50K worth of coins or jewlery, you can always go down the street and cash it in, plus noone can seize it.

Wana make a wager on that? If you do you would loose.
They did it before, they can do it again.

Executive Order 6102 is an Executive Order signed on April 5, 1933, by U.S. President Franklin D. Roosevelt "forbidding the Hoarding of Gold Coin, Gold Bullion, and Gold Certificates within the continental United States".

The order criminalized the possession of monetary gold by any individual, partnership, association or corporation
The Executive Order issued that forbade the hoarding 'of gold or silver coin or bullion or currency,' under penalty of $10,000 and/or up to five to ten years imprisonment.

[optionsdude]

Good guns hold their value very well and usually never go down in value. Especially if it's a good quality gun. The Colt Python that I bought a few decades ago has steadily increased in value since the day I bought it,actually more than double what I paid. Gold has a substantial risk to it and if you look at the sector rotation going on right now we could get a sustained move higher in the market. And as someone mentioned earlier a well rounded portfolio works much better than all of your eggs in one basket.

[cantstopkane]

No one is gonna hunt you down for hoarding 50k worth of gold, 10 mil maybe. That being said gold is a publicly traded commodity, like corn or coconut oil or oil or natural gas. Dont be foolish in thinking that it is a safe long term investment. Infact one of the worlds largest gold deposits was discovered in the philippines about 1-2 years ago. They are minning at 5% the rate they could. Wanna know why becuse the owner s are riding the gold market willeventully sell when it platues then crash it with there gold and buy again

It must be regarded like a stock not a bond, but if your willing to constantlyonitor thearket and sell when your supposed to its an ok investment

Harder to turnover tho then some other things

[lovbyts]

No one is gonna hunt you hoarding 50k worth of gold, 10 mil maybe. That being said gold is a publicly traded commodity, like corn or coconut oil or oil or natural gas. Dont be foolish in thinking that it is a safe long term investment. Infact one of the worlds largest gold deposits was discovered in the philippines about 1-2 years ago. They are minning at 5% the rate they could. Wanna know why becuse the owner s are riding the gold market willeventully sell when it platues then crash it with there gold and buy again

It must be regarded like a stock not a bond, but if your willing to constantlyonitor thearket and sell when your supposed to its an ok investment

Harder to turnover tho then some other things

You say they never would but it's historical fact that is exactly what they did. It would probably be a lot more now but one thing we should learn is history repeats itself.

There is also a lot of gold that was hidden during WWII and before in the Philippines. Some of it has quietly been discovered and some have not. The wife seems to think she knows where some was hidden on their land on the coast due to legends and past findings. It will be something to do when we move there in a few years, searching, exploring that is.

[panntastic]

This is one of the most interesting threads I've read in a long time
I love learning new stuff and this board seems to have some extremely intelligent members
Let us know what you decide to do OP

[JJ78]

Ok.

So went the the Pawn Stars last night. They had no gold bullion. Just coins. They were way over priced.

So we bought 4 10oz bars of silver. The y to were a little pricey @ $325 a piece. So $32.50 an oz. Silver is trading around 26 an oz. But they were really informative about this.
26 is the price of paper siver. And that physical silver is difficult to find.

So we will hold this for a long term investment.

But then the wife and I ran over to the casino and won $1000 playing blackjack. So we basically got 40 oz. of silver for $300. Nice!!

Then went to the gun show and bought a .380 Bersa for the wife and a pistol grip mossberg 500 tactical shotgun. And 300 12gauge rounds and 500 rounds of .380

So had a good weekend. Basically was told that gold is a good investment for people with great wealth. And silver was a better investment for a folks like us.

[Knockout_Power]

Ok.

So went the the Pawn Stars last night. They had no gold bullion. Just coins. They were way over priced.

So we bought 4 10oz bars of silver. The y to were a little pricey @ $325 a piece. So $32.50 an oz. Silver is trading around 26 an oz. But they were really informative about this.
26 is the price of paper siver. And that physical silver is difficult to find.

So we will hold this for a long term investment.

But then the wife and I ran over to the casino and won $1000 playing blackjack. So we basically got 40 oz. of silver for $300. Nice!!

Then went to the gun show and bought a .380 Bersa for the wife and a pistol grip mossberg 500 tactical shotgun. And 300 12gauge rounds and 500 rounds of .380

So had a good weekend. Basically was told that gold is a good investment for people with great wealth. And silver was a better investment for a folks like us.

you guys are funny... looking to invest in precious metals for future gain, but hitting the casino in the meantime...

Anytime you buy bars, especially minted items, you will pay roughly 20% over spot so you are right in that area.

Be careful though, we had a couple bars tested when my buddy bought some silver and 3 of the 20 were lead with silver coating (0.095")

[JJ78]

I looked them up. AMark? Ive heard about Tungston getting passed off as gold in New York.. Something like 10, 000 ounces.

That would suck.

Knockout, I know, I know. I very rarely gamble here in vegas. I never put up more than $200. Probably 2-3 times a year. Even though I enjoy it. I got that out of my system the first year I was here.

Sometimes you just feel it though. @ 34 Ive made and spent/lost a lot of money over the years doing reckless things. It took me to turn 30 turn start wiseing up and being a member of society

[Knockout_Power]

We're the same age, and yah, around 30 I took a step back and thought why they fvck am I burning through money as fast as I make it... now you'd be lucky to hear change rattling in my pocket Im so tight

[JJ78]

The purchases we made on Sunday

The first on the page
Mossberg & Sons | 500 Special Purpose

For the wife:
The first on on the page
Bersa Pistols For Sale Gun Auctions Gun Classifieds For Bersa Pistols Refine Your Search For Bersa Pistols Below.

Got good deals on both. $375 for the mossberg and $300 on the Bersa

Going camping in the desert mountains this weekend, cant wait to pop some off.

By the way, Ammo is getting real pricey. We couldnt really find any at the show, so we went to Bass Pro and their shelves were practically empty. The said the get shipments on Monday morning and there is a huge line. They only let a few people at a time in cause there s such a rush.

[JJ78]

Oh and found the same Silver Bars we bought on line for $7 dollars cheaper an ounce, but none in stock.

So happy with the purchases.