I called my buddy today to let him know I bought two Pythons. He asked why and I said I wanted them. He then informed me he bought 10 1 oz. gold coins and was expecting delivery today. Said he paid $37,000.00 for them. Ouch and Wow.
Gold
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I bought two one ounce gold coins for my grand kids to inherit (sp?) a couple of years ago. I still need another one for the third grand child but with the increase of gold prices that may be a long time coming!
$3k over spot price, I don't know if that's a good price or not. Gold has never been a very profitable investment for me. I certainly endorse your choice of Pythons though, especially if they're from the '60s or '70s.
THE PILGRIM
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$300 over Spot does sound high.
Do you guys have Sales Tax on Gold Sales?
SD Bullion has my Fav, buy 10, random year Eagles $80 over Spot.
Free Shipping.
Do you guys have Sales Tax on Gold Sales?
SD Bullion has my Fav, buy 10, random year Eagles $80 over Spot.
Free Shipping.
I’ll take the Pythons. Id consider them precious metal.
Picking nits, I admit it. But I would argue that "speculation" is a matter of timing. "Investment" is something that is done for the long term and has almost nothing at all to do with timing the markets.
As an example, if you bought stocks when they were at their very height, just before the great crash of 1929, many would say your timing was awful. Nonetheless, if you held onto them for 20 years you made all of your money back, and then some. If you held onto them for 30 years then you came out well ahead of any other investment option that was available at the time.
The problem, of course, is that a lot of people think that they are investing, when in reality they are speculating -- hoping to find a way to get rich quick.
As an example, if you bought stocks when they were at their very height, just before the great crash of 1929, many would say your timing was awful. Nonetheless, if you held onto them for 20 years you made all of your money back, and then some. If you held onto them for 30 years then you came out well ahead of any other investment option that was available at the time.
The problem, of course, is that a lot of people think that they are investing, when in reality they are speculating -- hoping to find a way to get rich quick.
Although there are different views on gold, Dave Ramsey says gold is not a wise investment?
The guns can take the gold. I would go with the guns. Buying gold is like buying a car. You lose money on both ends, buying and selling. If the economy gets better I think gold will start to drop. I really wish I had bought bitcoin 5 years ago.
Since 2000, gold has outperformed the S&P500. With Trillions of government debt and trillions in deficit spending, gold is definitely worth having as an insurance policy in the collapse of the dollar. One would certainly question the logic in holding government bonds. Having 10-20% of investable assets in gold makes sense. 10-20% in firearms makes sense as well.
Gold is just a piece of the retirement pie. NOT the whole thing. Makes for handy cash for special projects. I believe some states tax the stuff while others do not. OH is one of the does-not states. Can make a big difference esp if buying for the short term. Re: buying for grandkids: always a good idea to plan ahead during a rising market, which is what weve had for a long time now. ( you can always sell off if the g’kids dont come)( or buy a boat, go on a vacation, buy a S&W, etc).
This is all the precious metal I have left. Liquidated everything a couple years back. I wouldn't buy anything today, even platinum which is a relative bargain @ $1450. If "the end of civilization" came to pass, a live cow will be worth more than it's weight in gold. Joe
If you find a source, late 1920s to 1933 St Guadens $20 circulated gold pieces are $3,316 today and contain almost 1 ounce of gold. If gold goes up in 'melt' value you're good; if the coin becomes more rare because more are being melted you can gain that way as well.
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He makes assertions of what he thinks everyone's investing goals should be, then criticizes based on those assertions. No, gold is not an income producing investment. Everyone who buys gold knows this, that isn't why they buy it. It is a hedge against inflation. Could inflation get so bad that people refuse to take dollars in exchange for products and labor? I don't really see things getting that bad. Over the long term, gold and silver has maintained their value (an ozt of gold will still buy what 1 ozt would buy 100 years ago). In comparison the dollar has lost 97% of its value.
It is also a way to preserve some wealth 'outside' the system. On the plus side, at least the last 2-3 years it has performed far better than keeping assets in cash.
I have always been a big proponent of the stock market. I am becoming less so. It seems more and more like gambling, and we are betting against insiders who are manipulating the market. But interest rates are so low that there is nothing else to invest in that has any chance of keeping up with the real inflation.
common dates are some of the cheapest gold out there now. anything later than 1928 (maybe 1928 also?) are extremely rare and valuable. They were never widely circulated and most were melted when FDR banned gold ownership. I think there are only a dozen or so 1933 known to exist, maybe only 1 in private hands.
You're right - I just checked again rather than relying on memory. A useful resource might be this: https://www.greysheet.com/prices/sp/twenty-dollar-double-eagle-saint-gaudens-gold-coins/9000
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Interesting source. I had forgotten that they weren't minted every year. Economic conditions in 1917-1919 weren't great (hmmm...wonder why?) so none were produced.
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