Anybody collect gold?

Armageddon?

There was discussion on the subject in Wilderness & Survival Skills a while ago. I had just finished reading "The Road" and I commented on how worthless gold was in a survival situation. You can't eat it, you can't live in it and it provides no protection from the weather.

Ammunition, on the other hand might be worth it's weight in.............gold.:D
 
Gold? Nah. Silver? Yes, please. As much as I can squirrel away. About 350-400 ounces when I counted it up last weekend, most bought in the mid-90s when silver was in the $4-5 range. It's now $16.
 
Trent Rock said:
The reason gold is up is because of speculation about "upward inflationary pressures" in the near future
and the weak dollar
and the media driven crisis==>
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http://www.federalreserve.gov/releases/h3/current/h3.htm

Watch the amount of excess reserves. As long as FED pays interest on these excess reserves, banks will sit on them. When FED stops, they will release it into circulation...
(Also note, that monetary base has DOUBLED!!! Still you do not fear inflation?)

I would also recommend you to read these:
http://mises.org/story/2810
http://mises.org/story/3390
 
Way back about 1965, when I was in the army in Germany, we were still on the "gold standard" and it was technically illegal for US citizens to own gold, other than in the form of jewelry. Price was fixed at 35-ish dollars to the ounce.

However, Germany had no restrictions on ownership.... Alas, If I'd have had a crystal ball, I could have bought a couple of ounces a month and salted it away....
 
my sister just sold her junk/broke/cheap jewelery for $ 940. maybe thats a good way to cash in on these prices. :D
 
Just out of curiosity, I figured out how much $850 at 5% interest would be today. Let's say instead of buying an ounce of gold in 1980 at $850, you bought a CD @ 5% annual compounded interest. Today, you would have $3500.

Interest on CDs varied over the years, but I think 5% is a fair average. Even at 3% you would still have a bit over $2000. That looks better then gold to me.
 
I'm breakin' out my old gold pan. My gold is free. (no I don't want to talk about the time spent to find it!:D)
 
goldmember.jpg


(Sorry folks, it was just too tempting)
 
Harry Callahan said:
Well, I just found out that due to spiraling global demand for bullion, smallish denominations aren't readily available. Blanchard has 1/2 oz Eagles and some 1/2 Canadian leaf. They've got anything a fellow wants in 1 oz coin but that's 1100 bucks. These 1/2 oz coins are going for six bills. Yikes! The sales rep makes a strong argument and I'm sure he knows what he's talking about. But six hundred bucks plus shipping? Man I should have bought these things back when my bro-in-law mentioned this. He'd think I was goofy if I bought a 1/2 Eagle for six notes. (Unless, of course, I bought it from him). :D

Looks like ebay is gonna be my best bet for the smaller denominations like 1/10th oz. Of course, the idea of buying bullion off ebay doesn't exactly inspire confidence... :mad:
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i like silver. its more easy to trade for a hamburger or a tank of gas than 1100 bucks worth of gold.

what change from a tranaction would you take? if you bought a tank of gas they would have to give you change in 86 goats. 46 tires so i like silver.
 
Oh well, I can not be silent so here are my 2-cents.

For over a few coins for fun I believe UffDa has it right. The gold & silver dealers are just like the Wall Street traders. Manipulate & move, pick up profits by selling TO YOU. None of those folks are ever going to do you a favor. I also am perplexed about the idea of buying larger amounts of gold that you do NOT have in YOUR possesion but is held at the firm or whatever safe place they control. If the SHTF do you think you will get that gold in the mail, or be able to drive over & load up your $10,000+ worth of gold in your truck. No, they will shoot you & I'm not kidding. At BEST, your gold will be living happily with some trader in Switzerland or some other secure (from you) location. Maybe it will send you postcards occasionally..."Having a great time! Wish you were here!".

I believe real items free of planned obsolescence will have a value. Knives, firearms, tools, items to construct a living for your loved ones. Ammunition as well, although I stay away from odd ones even if they are SO Pretty! .357SIG, .40SW, .327Federal, .17HMR, etc.

My firearms & ammunition are extremely common, .38/.357; .22LR, .45ACP, 9mm, although I did indulge myself with a gorgeous .22WMR that most likely would wind up re-chambered or smelted when the .22WMR stocks are gone. As I said this one is an indulgence only, & great fun. We are not talking about FUN however.
P.S. .22LR is NOT usable in a .22WMR weapon, ever! The case diameter is slightly different & will rupture dangerously when fired!

UffDa mentions the book "The Road" by Cormac McCarthy. Buy this book & read it! One of the finest books I have ever read. Book not movie. Read this book. For several weeks afterwards I found myself thinking deeply about this simple, slim volume. Did I say buy this book & read it? "The Road", Cormac McCarthy +/-$14.95 new, cheaper used.

Kudos to UffDa.

Maineboatman
 
How do I know this is not the right time to buy gold? When everyone and their mother is offering to sell it to you.
That includes Tv commercials, and radio and newspaper ads. Like one of the previous posters said:
"Buy gold when nobody is talking about it, and sell it when they are" (like currently).
 
scarysharp said:
How do I know this is not the right time to buy gold? When everyone and their mother is offering to sell it to you.
That includes Tv commercials, and radio and newspaper ads. Like one of the previous posters said:
"Buy gold when nobody is talking about it, and sell it when they are" (like currently).
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Oh?.... So I'm not supposed to "buy" when the price is HIGH, and "sell" when the price is LOW???:eek::D
 
IMO silver is where it's at. Like gold, it will always retain some value. It's much cheaper right now but I feel percentage wise it has more potential for growth. This is because it has more industrial uses than gold. Silver is being used for it's anti-microbial properties in clothing among other things.

The key is to have it in your possession no matter what metal you invest in.
 
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