Would you invest in gold and if yes, how? If not, why?

[starflyte1]

I know nothing about gold, except that it keeps going UP. Would you buy gold and if yes, how? If not, why not?

[Army Guy]

We do invest in gold. HOWEVER!!!! JMHO, but I would not buy it now, because it is high. That is a common mistake many make in any investing, they buy when it is hot.
My belief has always been that you need to have 10% of your net worth in gold. AND that gold should be easy to get. If/when paper becomes worthless gold is the only true medium for barter. When I first started I had gold bullion. But the problem is you can not easily use it, because first the size, and next the purity. You have to get it confirmed. So that is why we have switched to gold coins, we have the South African Krugerrand. From what I have studied it is the most perferred, followed by the Canadian Maple Leaf. Also I periodically bought ours over a period of years when the cost was low. My average cost when we bought ours was $250 an ounce, so yes, they have gone up.
Gold should NOT be used as someones primary investment, because of it's price swings. If you look at overall rate it is not very good over time, and the market, etc beats it hands down. But it helps to diversify your portfolio and gives us a "last ditch" asset when all goes South.

Army Guy

[spk7951]

I don't own gold right now mostly because of the price. Even though I have read pricing speculations of around $1,200 - $1,400 an ounce as projected highs I am skeptical of those prices.

I do own a precious metals mutual fund that is doing very well and does have about 1/3 of it invested in gold companies. My suggestion is that you might want to look at a mutual fund or even buying stock in some gold mining companies. A mutual fund would give you some protection with the gold pricing changes we have been seeing recently.

[K9-Lovers]

I invested in gold, but not willingly. I see my investment every morning when I brush :icon_bored: my teeth.

[starflyte1]

Sorry it took me so long to get back to you with a thank you.

I would like to buy some gold coins, but where do you buy them?

If I invest in a gold mutual fund, if I have this right, I would not have the gold coins to spend if I needed them.

[cashman]

If we have a depression what good is gold?

Will we be able to sell it for 10 cents an ounce?

Who will buy it?

[Army Guy]

Star, the best place I have found to buy gold coins is through like GoldLine, etc that advert. Make sure they are good by doing web search, and then buy. I use to buy mine through Blanchard, which I found advert on Rush's Show. They were based in New Orleans. They got bought out buy Gold Line who G. Gordon Liddy adverts for.
Yes, with Mutual Funds all you have is paper and a promise. That is why I have the coins.

Army Guy

[Army Guy]

Cashman, study History. When depression does hit, gold IS the only thing worth anything, no matter the cost. if this was not true then why did FDR make it illegal to own gold and collected it all up?
I would much rather have some of my investments in gold and have something then paper, or money in the bank they will not let me take out in a crisis!

Army Guy

[cashman]

Cashman, study History. When depression does hit, gold IS the only thing worth anything, no matter the cost. if this was not true then why did FDR make it illegal to own gold and collected it all up?
I would much rather have some of my investments in gold and have something then paper, or money in the bank they will not let me take out in a crisis!

Army Guy

History teaches us not to makes the same mistakes again.

History reports that gold was no good during the depression because
for political reasons FDR took it away from citizens and exhanged it for dollars at a low price.

[Army Guy]

The reason gold became worthless during the depression and the FDR years, was it was made illegal to sell and own it in the "US" only. Reason being, and not wanting to turn this into a politic thread but this fact does address the question at heart of this thread, it was taken away, because gold represents wealth and FDR being a Progressive, began the slow process of taking wealth from people in order to control wealth overall by the issuing of GOV backed/CONTROLLED tender.
Nixon, rmade it legal again for private citizens to own gold and removed us from the gold standard.

Army Guy

[starflyte1]

Army Guy, Can I buy gold coins locally? I have several Kugerrands that I picked up many years ago from local coin stores. Or is it best to buy from the places you mentioned when buying "quantity"? Do they just ship it to you in a box? Sorry to be so dense, but seems like a lot of money to send off. For some reason, I think I want to buy 1/4 oz Maple Leaves rather than 1 oz.

[cashman]

The reason gold became worthless during the depression and the FDR years, was it was made illegal to sell and own it in the "US" only. Reason being, and not wanting to turn this into a politic thread but this fact does address the question at heart of this thread, it was taken away, because gold represents wealth and FDR being a Progressive, began the slow process of taking wealth from people in order to control wealth overall by the issuing of GOV backed/CONTROLLED tender.
Nixon, rmade it legal again for private citizens to own gold and removed us from the gold standard.

Army Guy

Then you agree that gold was not a good investment because of the depression tactics of the US government.

[Army Guy]

Star, yes you can buy local. Just around where I was stationed when I was doing the most of my gold buying, there was none.
Really, it was very easy. Just gave them payment via credit card and they ship and when it comes you sign for it from the PO.
Any size is good, I guess prefer the old standard of I coin 1 ounce.

Army Guy

[Army Guy]

Cash, we both know that if the US collapes and gold is again made illegal for personal holdings, that market will still exist.
And that is all I will say on that.

Army Guy

[Kelsie52]

Over the long term the market far outperformes Gold --

While I do think Gold is a good investment --like anything else tooo much is not good---

Many advisors agree --that Gold should be part of your portfolio but not more than 5% --I am waiting for it to come down befroe buying some


Its Just my opinon ----I am not an advisor but I think I am --states my wife.
Dont where she gets that idea ...I didnt tell her !! :bowdown:

[Bogie Shooter]

Star, the best place I have found to buy gold coins is through like GoldLine, etc that advert. Make sure they are good by doing web search, and then buy. I use to buy mine through Blanchard, which I found advert on Rush's Show. They were based in New Orleans. They got bought out buy Gold Line who G. Gordon Liddy adverts for.
Yes, with Mutual Funds all you have is paper and a promise. That is why I have the coins.

Army Guy
Looks like Goldline may be losing its glitter. On Good Morning America this morning it was reported they are under investigation for selling gold coins at over inflated prices. This company Glen Beck and Rush are pushing.


http://abcnews.go.com/Blotter/slideshow/glenn-becks-golden-advertiser-fire-11198000

[Pats2010]

Looks like Goldline may be losing its glitter. On Good Morning America this morning it was reported they are under investigation for selling gold coins at over inflated prices. This company Glen Beck and Rush are pushing.


http://abcnews.go.com/Blotter/slideshow/glenn-becks-golden-advertiser-fire-11198000

Do you trust ABC news? Just wondering

[Bogie Shooter]

Do you trust ABC news? Just wondering

I know I know I should be watching Fox News.....Xxxxx said so.

[brostholder]

Goldline is being investigated for pushing people towards gold coins, which they sell above the value of the gold content. IMHO I don't see what the advantage is to having gold coins vs. owning bullion that you know the market value of.

[Larryandlinda]

Star, the best place I have found to buy gold coins is through like GoldLine, etc that advert. Make sure they are good by doing web search, and then buy. I use to buy mine through Blanchard, which I found advert on Rush's Show. They were based in New Orleans. They got bought out buy Gold Line who G. Gordon Liddy adverts for.
Yes, with Mutual Funds all you have is paper and a promise. That is why I have the coins.

Army Guy

FYI:
last night ABC's Nightline was not to kind to Beck and others
Here's a sampling of whassup
YMMV of course

http://www.google.com/search?sourceid=chrome&ie=UTF-8&q=goldline+scam


disclaimer:
we have bought and sold a little gold for 40 years mostly US and key foreign coins and selected gold stocks

L&L

[Larryandlinda]

I know I know I should be watching Fox News.....Xxxxx said so.

after watching the dvd 'outfoxed' we we not so sure of our fuzzy favorite
anymore

got us thinkiing alright!!!

We don't believe all we see on the box either but looked up Goldline and read some tales of woe.

One of the questions we always ask is
"why are they so good to us with all these great deals?"

L&L

[Army Guy]

brostholder, the only problem with holding actual bullion is you have to pay to have purity checked and weighed before you can sell it. We had it at first and it was more of a hassle, changed to coins. JMHO

Army Guy

[cashman]

Is this true?

Obama snuck a tax on gold into the health care bill.

It appears the bill gives the IRS the power to force us to report and pay taxes on all gold we own.

If true what else is in this bill which taxes us and takes away our privacy and assets.

[silvertoken]

A great place to research precious metals is at Kitco forum.