Buying gold? - PeachParts Mercedes-Benz Forum

Hatterasguy · #1 09-20-2009, 06:53 PM

I'm concerned about inflation in the next few years, really hurting the value of my savings. I'm trying to preserve my cash holdings so I can reinvest them in my business.

http://www.austincoins.com/gold_bar.htm

Thinking about buying these. Is this a good way to preserve the value of my savings?

Matt L · #2 09-20-2009, 06:57 PM

Gold is not at an all-time high now, but it is quite high compared to recent history. It doesn't seem that it would be a great time to buy, but you can never tell for sure.

Hatterasguy · #3 09-20-2009, 07:00 PM

Thats my concern, I'll probably wait for a few more months until I sell the house I'm currantly building. I'm hoping it comes down $100 an ounce.

http://bullion.nwtmint.com/gold_bars.php

I can get a better price if I buy at least 10 of them. Than maybe a bunch of silver coins.

The Clk Man · #4 09-20-2009, 07:05 PM

Quote:

Originally Posted by Hatterasguy

Thats my concern, I'll probably wait for a few more months until I sell the house I'm currantly building.

http://bullion.nwtmint.com/gold_bars.php

I can get a better price if I buy at least 10 of them. Than maybe a bunch of silver coins.

I have a Roman Coin I will sell you. LMK if you are interested.

Hatterasguy · #5 09-20-2009, 07:14 PM

Cool, but I'm looking for bulk. I don't want to pay much more than the spot price for it.

http://bullion.nwtmint.com/silver_stagecoach.php

These look like what I'm looking for, in regards to silver.

I'm looking to simply preserve what I have, any gains are gravy.

amosfella · #6 09-20-2009, 07:15 PM

If you want to buy physical gold, I'd check out this site: www.bullionjewelry.com. For some reason, they're selling gold right at spot price.... The last time the government seized gold, jewelry was exempt. How they can sell their workmanship at spot though, I don't know. Maybe they get 10% wholesale discount on gold.... Who knows....

Hatterasguy · #7 09-20-2009, 07:19 PM

Their not 24k gold, would that affect the price?

amosfella · #8 09-20-2009, 07:26 PM

the gold is made by weight, and then alloyed to be more durable. One oz of gold alloyed into 14k or 18k will sell for the same amount as one oz of 24K. if you want to buy it and purify it yourself, I can tell you how to do that too.....

What that site claims is that the gold is sold by actual weight of the gold content.... Not the weight of the jewelry....
I put out this disclaimer, I have not bought from them, nor am I affiliated with them....

Hatterasguy · #9 09-20-2009, 07:31 PM

Hmm thats the problem, its kind of hard to send a ton of money to a company that you don't know a lot about. I'll probably do a big buy this fall, I don't really want to hold much cash.

amosfella · #10 09-20-2009, 07:50 PM

True. But if you buy one and you get it checked, and not good, send it back....

Ara T. · #11 09-20-2009, 07:50 PM

How bout classic cars?

That market is pretty low right now.

kknudson · #12 09-20-2009, 08:00 PM

I won't make any real predictions, but with the dollar crashing and IMHO further to go, gold should rise. I trade currencies, not gold though.
There was a link posted somewhere and the guy made an interesting point, the Stock market is up over the past 6 months, the dollar is way down. Net effect worldwide is the stock market has really gone nowhere.

OK, whatever you do take physical possesion, do not have some place store it and provide you a certificate.

I would get coins, and bullion if possible, depends on funds and storage abilities.

I have the info in my office, check out 'investment rareities', they have been around a long time, I bought some coins yearS ago. Their prices were ballpark, not high not low compared to others. They can provide coins of various qualities, collectable to metal value and bullion. They ship quickly(well did) etc.

Note they are big into Silver, which is my preference right now. Gold has primarily economic value, silver has industrial etc uses. And the supply/consumption seems to favor silver having the potential for a squeeze more than gold.

Do your own research, these are my opinions, and some are a bit dated. May still be correct, but may not.

Hatterasguy · #13 09-20-2009, 08:12 PM

How quickly do you think the US dollar is going to move? Do you think it will hold fairly steady until the end of the year?

E150GT · #14 09-20-2009, 08:15 PM

if you buy gold to hedge against inflation, would once you sold it you would have cash that is devalued?

amosfella · #15 09-20-2009, 08:27 PM

US dollar is current swirling in the toilet.... Might want to hold paper currency in swiss franc or some other currency primarily related to banking....
Silver is interesting. Gold is used in a lot of computer applications...
google golden lion mint. They have some good info there...