Investments

[ila]

Originally Posted by shadows

Too bad you didn't have a nice bit of gold right now, ila. You would be getting a pretty nice return on it.

I would, but gold has risen before only to dramatically tumble in price. Right now the price of gold is too high to even consider buying any.

[shadows]

Originally Posted by ila

I would, but gold has risen before only to dramatically tumble in price. Right now the price of gold is too high to even consider buying any.

I agree. It would be crazy to attempt to purchase gold right now, especially with it's propensity to tumble down in price at the slightest provocation. That being said, it would be great to have had that gold before the huge rise and then sell it right now while it is so high.

[The Conquistador]

Gold for me.

If a complete collapse of the economy or a really bad depression ever happens, metals will be the most useful things to barter. Gold, silver, hell even copper or brass would be in high demand. Federal Reserve Notes and other things of the sort are play money; a chunk of gold carries far more weight(no pun intended).

Just lookin out for the longterm you know?

[ila]

Originally Posted by TheAngryPostman

Gold for me.

If a complete collapse of the economy or a really bad depression ever happens, metals will be the most useful things to barter. Gold, silver, hell even copper or brass would be in high demand. Federal Reserve Notes and other things of the sort are play money; a chunk of gold carries far more weight(no pun intended).

Just lookin out for the longterm you know?

The problem with owning precious metals is that one's ownership is just pieces of paper. One doesn't actually hold the metals, but just certificates that show ownership. It would seem to me that if their is a massive economic collapse it will be all but impossible for one to get hold of those metals. Pieces of paper are hard to sell in an economic collapse. I would like some prove my theory wrong.

[shadows]

Originally Posted by ila

The problem with owning precious metals is that one's ownership is just pieces of paper. One doesn't actually hold the metals, but just certificates that show ownership. It would seem to me that if their is a massive economic collapse it will be all but impossible for one to get hold of those metals. Pieces of paper are hard to sell in an economic collapse. I would like some prove my theory wrong.

Wouldn't you be able to keep your precious metals in safety deposit boxes to prevent such a scenario from happening?

[ila]

Originally Posted by shadows

Wouldn't you be able to keep your precious metals in safety deposit boxes to prevent such a scenario from happening?

From all I've ever heard, when one buys gold one is just buying certificates of ownership and it's not possible to actually touch the gold. Since I don't have firsthand experience I don't know for sure.

[shadows]

Originally Posted by ila

From all I've ever heard, when one buys gold one is just buying certificates of ownership and it's not possible to actually touch the gold. Since I don't have firsthand experience I don't know for sure.

Darn. I would much rather be able to hold the gold in my greedy little paws. I would be like Scrooge The Duck, but with only certificates my glee would be diminished.

[shadows]

Copper has always been a good commodity. That is why so many thieves tend to fry themselves while trying to procure some from live power cables.

[GRH]

Originally Posted by TheAngryPostman

Gold for me.

If a complete collapse of the economy or a really bad depression ever happens, metals will be the most useful things to barter. Gold, silver, hell even copper or brass would be in high demand. Federal Reserve Notes and other things of the sort are play money; a chunk of gold carries far more weight(no pun intended).

Just lookin out for the longterm you know?

You see, I used to be a big proponent of this type of thinking. However, the more I thought about it, I realized something. The collapse of America (or any nation-state that is truly significant in the global scheme of things) would probably be preceeded by their central banks DUMPING every bit of gold onto the open market to try to prevent collapse. This would be a last ditch effort to keep fiat currency afloat. But it would flood the metals market and would therefore distort the supply/demand curve and would ultimately depress the price of metals. Therefore, metals utility in a complete collapse, while far from useless, would probably lack the utility that many people think they'd have.

I admit not knowing much about this subject. Are any of these "legitimate"? I would think this area would be rife with scams.

http://store.nwtmint.com/Bullion/

I think GRH is right about the .999 standard. So, I guess my "24K Gold" Obama coin is worthless?

Sorry, couldn't help it...

[The Conquistador]

I'm thinking more of a "have a couple bullion laying around' approach. I would not invest all my money into gold for that exact reason, but rather have a little cache that would keep me comfy.

Still, even with a massive flood of gold, it will still be worth having instead of a wad of useless cash.

[Hedonistman]

The reason to invest in precious metals is because they are real and tangible. Of course you physically hold the metals,,,only fools buy paper certs---they're rife w/scams and manipulation. I make 1 quick call,, lock in the price and metals arrive 10 days later.
Anyone who thinks metal markets are volatile, ck the Forex. The Euro is less than 10 yrs old,,,came out around 3/$1. Now it's about $1.4/1,,, and the UK sure ain't no swinging dick economy, lol.
Only thing that keeps the USD afloat is that all currencys r in the same boat---
TOTALLY WORTHLESS. There is not 1 nation whose script is backed by ANYHING.
As for investing for yield, ck out the 'Dow Aristocrats' ,,, most exclusive 'club' of the NYSE. But for buy it, forget it, reap the dividends,,,just buy PM,,,cigs r the biggest drug on the planet,and no 1 stops getting high for very long,,,, lol

[GRH]

Originally Posted by TheAngryPostman

I'm thinking more of a "have a couple bullion laying around' approach. I would not invest all my money into gold for that exact reason, but rather have a little cache that would keep me comfy.

Still, even with a massive flood of gold, it will still be worth having instead of a wad of useless cash.

I agree with you there. I think it's highly prudent to have some "just in case" money that can't be inflated away like paper currency can.