The logic for buying gold/silver?
- Thread starter Peter M. Eick
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venomballistics
Member
It's something I think is something of a scam.
The theory is that in the event of political, social, financial, or infrastructure collapse, you will be financially secure.
It has no nutritional, medicinal, nor even structural value. When the chips are down, my can of beans, and box of buckshot will be worth more than all the precious metals you have.
The theory is that in the event of political, social, financial, or infrastructure collapse, you will be financially secure.
It has no nutritional, medicinal, nor even structural value. When the chips are down, my can of beans, and box of buckshot will be worth more than all the precious metals you have.
labworm
US Veteran
I use to attend the Coin Show held in Boston 3 times a year all the time.
In 1985 I purchased 1 oz Gold Pandas and different US Gold coins, at that time I believe that gold was in the $300.00 range.
Haven't purchased any until:
US Mint Gold Proof 1 OZ Buffalo
Purchased 6/10/10 $1514.95
The coin was just too beautiful to resist.
But I think I am all set with my gold buying, someone is going to have a lot of fun with it.
In 1985 I purchased 1 oz Gold Pandas and different US Gold coins, at that time I believe that gold was in the $300.00 range.
Haven't purchased any until:
US Mint Gold Proof 1 OZ Buffalo
Purchased 6/10/10 $1514.95
The coin was just too beautiful to resist.
But I think I am all set with my gold buying, someone is going to have a lot of fun with it.
Anyone who bought gold when this thread started in early 2013 is probably not real thrilled about that purchase about now. Gold is pretty volatile stuff these days.
I bought several ounces back in the '80s in the 300-400 price range, but it didn't do anything and I kind of lost interest. It's been sitting in a safety deposit box ever since. In roughly 2008 or 9 I bought a couple more ounces at roughly $900, although it killed me to do it. Then it shot up to nearly $2K, but today it sits at $1235. I haven't bought anymore but am thinking that if it drops to between $1100 and 1000 an ounce I might pick up a little more. I think it's good to have a little as a sort of rainy-day fund.
I bought several ounces back in the '80s in the 300-400 price range, but it didn't do anything and I kind of lost interest. It's been sitting in a safety deposit box ever since. In roughly 2008 or 9 I bought a couple more ounces at roughly $900, although it killed me to do it. Then it shot up to nearly $2K, but today it sits at $1235. I haven't bought anymore but am thinking that if it drops to between $1100 and 1000 an ounce I might pick up a little more. I think it's good to have a little as a sort of rainy-day fund.
Damn Yankee
Member
I thought everyone knew the three most important things to have when the SHTF are,
Water
Toilet paper
Ammo.
Water
Toilet paper
Ammo.
It's not a good idea to buy high...
I know people that scrambled to buy silver when the Hunt brothers cornered the market and inflated the price thinking that it was going to rise further in value. When the Hunt brothers were found out the price dropped back and people had silver bullion worth pennies on the dollar. Though silver is a precious metal, it is also an industrial commodity.
I know people that scrambled to buy silver when the Hunt brothers cornered the market and inflated the price thinking that it was going to rise further in value. When the Hunt brothers were found out the price dropped back and people had silver bullion worth pennies on the dollar. Though silver is a precious metal, it is also an industrial commodity.
I like silver. Best time to buy is when everyone else hates it.
BobC357
Member
Silver broke down below $18 today. Still a some negative pressure. Current spot $17.81
Maybe "he who had the lead (Pb), will take the gold (Au)"?
ChattanoogaPhil
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Willian Devane with Rosland Capital... Are you prepared for the apocalypse? You need a chunk of metal.
Maybe I should get a reverse mortgage from Fred Thompson to send more money to Devane?
Maybe I should get a reverse mortgage from Fred Thompson to send more money to Devane?
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chaparrito
Member
You can't eat gold.
ChattanoogaPhil
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Since the Fed has announced an end to quantitative easing things don't look any brighter as gold plunges to a four year low. I'd be a buyer at $700. 
Well without reading all in this thread let me ask a simple question.
What do the companies that sell all this gold and silver invest in?
If they sell all their stock (quite unlikely) they then have a lot of currencies of all types what do they do with it!
What do the companies that sell all this gold and silver invest in?
If they sell all their stock (quite unlikely) they then have a lot of currencies of all types what do they do with it!
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ChattanoogaPhil
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With the brokerage fees they get from pushing gold to cab drivers and soccer moms, they use those funds to sell short gold. As gold continues to plummet, William Devane will be telling you it's a deal of a lifetime to buy now... don't wait! And so the cycle goes...
Interesting answer THANKS.
I have been playing the stock market for over 25 years so I do trades and know that timing is everything. You have to be in front, not even or worse yet behind the curve. I was sort of wondering what commodity the gold brokers invested in, you would not believe some of the repossesses I have got.(I like yours)
They time, they get rich/richer and the worry worts get poorer, sounds logical!
just jim
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Who sets the price on gold? Those are the guys who will make money on it. Gold seems to be an insurance plan for those in fear of a monetary collapse. If it all goes down gold is the last thing I would want, at least I could build a fire with worthless paper. Lol lol
rburg
Member
You can't eat gold, but you can hang it on your wife or GF and make them very happy. Similarly, you can't eat silver but you can eat with it. So you spend your money on top notch silverware that's often selling at scrap prices. Then you put away the stainless steel that looks ugly and begin eating on the silverware. Again, the wife is smiling because she has the most beautiful table setup.
Do as you please, because I'm going to.
Do as you please, because I'm going to.
alde
Member
Hi quality guns seem to be a more stable way to protect against a falling dollar. I have never sold one for less than I paid for it. They don't roller coaster like gold and silver.
Pilgrim
US Veteran
on the current tv show 'Z-Nation' the characters went to a 'gun show'. They wanted to know what the price of admission was since the dollar was useless in an Apocalyptic nation.
The price of admission was 7 rounds of ammo...not gold.
The price of admission was 7 rounds of ammo...not gold.
ChattanoogaPhil
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NYlakesider; said:
People will say the darndest things about gold. Everything from all the gold is missing at FT Knox to government conspiracies... Gold bugs can be very entertaining.
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