Will anyone regret not buying gold at $2,270 ?

In 1972, 20 lbs of gold @ $35 a Troy oz [12 per lb $420 a lb] totals $8400. That buys you a decent small 2-3 bedroom house in Missoula or Bozeman, MT.

2024 20 lbs of gold @ $2400 ox totals $576,000. That will not touch a 2-3 bedroom house in either of the above cities but will get you a decent home an hour away.
 
Had a friend tell me...back when you could take an ounce of gold and buy a really nice suit. You can still do that today. When I got married in 71 I sold about 60 guns...mostly M-12 Winchesters. I used the money to buy a house...a fixer upper and much of the cost of fixer uppering. 1977 sold the house and bought another place. Four years later sold it and bought a small farm. Had to borrow a little but owed no mortgages by 1985... 1986 bought another farm...1990 had that mortgage gone too. Going to give the 2nd farm to my daughter. Like Mtgianni said...the value in many ways is the same year after year. The difference in buying power has probably gone down a bit...but you'll be close.
 
Onomea said:
Well, I can say I won't. Never had any interest in buying gold as an investment, and very rarely as a trinket.
Click to expand...

However, it is much better than fire insurance (unless your house burns down). At the end of the insurance term you are left with zero.
Not so with gold.

As a bonus, after your house burns down, just crack open the safe and the gold will still be there . . .

You don't have a safe?!?!?
Whassamattayou?
 
Last edited:
mtgianni said:
In 1972, 20 lbs of gold @ $35 a Troy oz [12 per lb $420 a lb] totals $8400. That buys you a decent small 2-3 bedroom house in Missoula or Bozeman, MT.

2024 20 lbs of gold @ $2400 ox totals $576,000. That will not touch a 2-3 bedroom house in either of the above cities but will get you a decent home an hour away.
Click to expand...
Your math is off. 14.6 troy ounces per pound. At $2400 per troy ounce, $700k for 20 pounds.

Gold right now is over $2700 per troy ounce. That means about $780k for 20 pounds. Checked realtor.com, and found almost 200 homes available in Bozeman, MT for less than that, with three bedrooms.
 
Last edited:
I would not invest in gold if it were going for $100's worth for $125.
 
Denverd0n said:
Your math is off. 14.6 troy ounces per pound. At $2400 per troy ounce, $700k for 20 pounds.

Gold right now is over $2700 per troy ounce. That means about $780k for 20 pounds. Checked realtor.com, and found almost 200 homes available in Bozeman, MT for less than that, with three bedrooms.
Click to expand...

1 troy pound is 12 troy ounces.
 
CALREB said:
When i was a young guy I used to spend my entire tax return (not much some years) on ammo 148 W/C. That was my match ammo for the year.
Some years later didn't need to do that as ammo was provided. So I began buying some silver and gold. Used to buy a Treasury set a year or a bit more. Came across some other old coins that I acquired years ago.It wasn't that expensive during those years mid 80s-mid 90s. I definitely wouldn't or couldn't invest in any at the current prices.

Then the wife got involved, lucky for me, and took over our other savings above our pensions. Well, the gold has gone up some but the other deferred comp type savings has vastly out preformed any gold that I have. Still like having some but have thought about getting rid of it to buy a boat or something without using savings. Since it is all coins I guess the best way is to get the coins graded and go that route. But no local place to get them looked at. I took some to a big gun show, where a company/person had a booth that could appraise your gold. Put some coins in plastic holders and numbered them not trusting any switcharoo.

It was interesting guy and gal there looked at some 10-dollar coins, commented that there were a lot of fakes made in the early 70s and they had to look at some test to make sure they were real, how long had I had them, yada-yada. I kind of chuckled and said no they hadn't been reblued, and no barrel switches that I knew of. They looked at me oddly and I thanked them and left. I sometimes stick a couple of the newer coins in a zipper pocket when I go to gun shows as guys trade guns for gold if the right deal appeared. Funny one of the most valuable coins is the silver dollar "Liberty" coin in the 1995 set "Westpoint mint". It is valued more than the Gold Liberty and if proofed right many times more. Happened to see it on one of those coin shows on TV.

Part of the reason I joined in on this thread is if anyone has experience getting coins appraised/selling/ what to look for or avoid. I would appreciate any input.

Now I am a bit afraid to get rid of some because of the dollars problems. Maybe we might need it or something. We have no kids, no younger siblings, so no one to really leave anything to. One day I will be doing same thing with guns. My wife jokes about my plastic treasure chest (in the safe).
Click to expand...


There are like three " respected" appraisal companies that grade and plastic slab coins
I have read that it is kind of a waste of money to go this route in an attempt to squeeze a few extra bucks from some green horn buyer.
I would recommend that you spend time on some coin forums in order to get insights and also look at pictures of graded coins.
Youtube and fleabay are good sources for pictures. In this way you can learn how to more or less grade your own.
Online their is alot of coin value info.
If you feel that you have a very valuable coin,then that might be worth grading and auctioning off.
It can be tedious. If you want to round up stuff that is of average value or melt value then go to buyers that pay spot prices. Not below spot. Forget about pawn brokers.

Collectors universe is a forum and many more.


Pure dot com is a new buy and sell venue that is getting traction with the increased PM interest.

Just like guns,ya gotta do your research or get nicked!
 
On the topic of gold....

I've been reading some books on quantum physics. Note I said reading, which should not imply understanding. Anyway, in one, the author was talking about gold specifically and stated that despite it's heavy weight, a gold bar contained a lot of empty space. Say what? Here's the example he gave: if the nucleus of one of the atoms in the bar was say, the size of a small car parked in the center of Los Angeles, the first orbit of electrons would be out at the city limits. Therefore, when you consider all the atoms in that bar having the same 'space', the bar is mostly made up of that space.

And if that doesn't mess with your mind, consider this: according to quantum science, all the matter in the entire universe just before the "Big Bang" happened was less that one-trillionth the size of the period at then of this sentence.
 
Well, Tom, as we say here, pix or it didn't happen!:D

(I am talking about that all the matter in the universe in one trillionth the size of the period at the end of your sentence. No photos of 13 billion year old galaxies allowed.)
 
Last edited:
You must log in or register to reply here.

Similar threads

S
To anyone who has a 629 V Comp
Replies
4
Views
560
colt_saa
colt_saa
P
Pre 29 leatherette presentation box value
Replies
8
Views
930
caddy2507
caddy2507
H
Need advice on Mdl 28 spring tension
Replies
11
Views
825
ggibson511960
G
BoulderTroll
Safe ammo for new Model 10 No Lock
2
Replies
37
Views
3K
Eddie Southgate
Eddie Southgate
S
Pawn shops Are Great Places To Shop
2 3
Replies
43
Views
1K
Skeet 028
S

Latest posts

Back
Top