Buying/selling gold

[Tor Larson]

Interesting metal. Any experts out there?

[eddiememphis]

Not an expert.

Gold is a traditional way of holding value. I have heard an ounce of gold in 1920 would buy you a nice suit, a steak dinner and hotel for the night. That holds true in 2024 with gold at $2700.

As inflation rises and the dollar has less buying power, gold remains the same.

Physical gold and silver is nice to have because it is pretty when minted. Bars aren't so nice, but there are some very elaborate coins out there.

As far as using it in the "end times", silver will likely be easier. Especially pre-1964 coins. It will be much more difficult to purchase a couple of chickens with a Krugerrand than with a couple of silver quarters.

[Wulf202]

My advice is to start by educating yourself on determining fakes

[DFBrews]

I was considering posting 4 ish grams of Colorado placer gold I have panned here soon. I believe most will lean torwards minted pieces.

[BushMasterBoy]

I moved to Colorado with the intent of mining gold. First thing you have to learn is how to do a fire assay. You crush the ore, flux it and heat it. This gives you the value oz/ton. Suddenly a big gold mining Co. moved in and the operation became huge, it was 1994 in the Cripple Creek mining district.

So what do you want to know?

[arbol]

It's not a good investment.

In 1980 it was $300/ounce.

In 2000 it was $600/ounce.

Today it is $2500/ounce.

a 4x return in 24 years.

Not good.

Invest in the stock market instead.

-John

[BushMasterBoy]

From 1971 to 2024, gold's annualized return was about 8%, which is slightly lower than the S&P 500's annualized return of about 10.7%.

Some financial advisors recommend your portfolio should be 10% precious metals.

[Sawin]

It’s not so much an investment any more than insurance is… it has and may even grow in value but it’s a true tangible insurance policy and store of value unlike much else. I absolutely recommend having some solid percentage of one’s net worth in precious metals… 10% could be on the high side, but if you are fortunate to get $50k-$200k of physical gold in your possession, you’ll never be broke…even if the USD died entirely….and you’ll probably be able to leave something for your heirs as long as it doesn’t get stolen.

[arbol]

It's almost too easy to sell. I did have 10 ounces of gold back in 2000'ish, and sold it because I needed money.

1980 $300
2000 $600

So yeah, I made the money I needed, but the investment itself, was very poor.

-John

[arbol]

If you buy today, at $2670/ounce...

first that is a big chunk of money, per ounce.
second, ok, now what?
third, I hope it is not worth $5000/ounce in 20 years.

-John

[Sawin]

Well it’s $3067/oz already. The dollar continues downward… it’s why DOGE exists, so try and save the dollar from total collapse, or more realistically slow its downfall a bit…. Time will tell.

[BushMasterBoy]

Silver is poor mans gold. Silver is the best conductor of electricty. Gold is great because it resists corrosion. AI computers are going to use both. Gold is necessary for building spacecraft due to optical shielding. This is why the Apollo 11 astronauts helmets appeared to be gold. It was gold!

https://www.youtube.com/watch?v=C0qOkbE5fqE

[3beansalad]

As with many others, I'm no expert.
I buy, and hold, silver and gold because I know they will never be worth nothing... and I don't have the same confidence in the US dollar. I don't expect to make a huge profit, my intention is to stay afloat when others are drowning.
I purchase as close to spot as possible, and I'm never afraid to ask for a better price. (There's at least one member here that can attest to that!) And I have no intent to sell my stack unless there is a financial collapse.
And if that happens, I don't have enough currently. So it's really a nest egg for my descendants.

[BushMasterBoy]

Silver medal bicentennial celebration 1oz sterling. These are nice trade pieces. You can always grind the silver to a paste and put it on a festering wound. Or melt it to bullion. Or bullets...

98542

[arbol]

Well it’s $3067/oz already. The dollar continues downward… it’s why DOGE exists, so try and save the dollar from total collapse, or more realistically slow its downfall a bit…. Time will tell.

A 10% return. This during one of the biggest stock market sell offs in history. Loads of uncertainty, etc. What was it 3 months ago?

I admit that DOGE, and the Republican emphasis on curtailing Government spending is new to the equation, and will hurt my philosophy that all this fake money "has to go somewhere!"

But I will take it. Let's get back to real money. Real productivity. Real production.

That can only help America, and thereby the populace, and the stock market.

Gold, is for glitter.

-John