Gold-Are You Ready to Rock?

[KAT119]

A GREAT CHART RE GOLD-DOW JONES & 10 YR. TREASURYS: http://www.resourceinvestor.com/pebble.asp?relied=18474

[BrklynLiberal]

1. Thank you for this post. I have been trying to get my son to buy gold

for a couple of months now. He thinks I am crazy.
I will forward this to him.

[KAT119]

15. I just realized the link was a bit mis-spelled-try this one:

http://www.resourceinvestor.com/pebble.asp?relid=18474 I am so sorry-this is more direct.

[Left Below]

2. OK - How does one buy gold?

Mind you, I have no interest in gold stocks - they are subject to mismangement.

I want to buy Maple Leafs, Krugerrands, etc.

But where do I take my money?

(No mail order for me)

Is there a "brokerage fee"? - for instance, if gold is $550, I would not pay a premium for the coinage.

What about the purity?

point is - buying gold is attractive in the coming hyperinflation, but a fairly sophisticated equity investor has questions.

[benburch]

3. Buy collectors coins at a reputable coin dealer...

But make sure you know what it is you are buying.

They have a collectors value beyond the gold that can be expected to make them an investment rather than just a store of wealth.

[Left Below]

5. I won't buy a "1924 US double eagle" with speculative value

becuase I don't know jack-shit about collectors "value".

And the human rights issue on African gold is worrisome.

I WOULD buy Maple Leafs at a small premium - maybe 3%.

[benburch]

8. That is why you need to learn about coins.

Before you buy your first collector's coin, know what you are doing.

But that is true of ANY investment!

[sendero]

19. Exactly..

... stay away from coins with numismatic value. That value is subjective, variable, and as a buyer you'll pay a high "spread" over what you can sell it for.

Concentrate bullion coins like the Maple Leaf, Kruggerand, etc - forget anything with a premium related to rarity etc.

[sendero]

22. dupe

already said it :)

[Warpy]

10. You can get hundredweights of gold at jewelry supply houses

that deal in gold. That's the amount of gold a hundred bucks will buy at current rates. It comes in small nuggets that reminded me of miniature gnocchi. It's jewelry grade, so it's 14K or 18K, whatever you specify.

Gold coins are generally less pure than jewelry grade.

It's now legal to buy gold bars. Let your fingers do the walking for "precious metals dealers" in the phone book in big cities to find out where.

Storage of actual gold is problematic. My idea would be to bury it and put a fish pond over it, although that would make it difficult to retrieve in a disaster. HHS has managed to get the "right" to raid bank vaults for gold in safety deposit boxes in time of "national emergency," a state they never defined.

[Monk06]

20. Canadian Gold Maple Leaf

Just type Canadian Gold Maple Leaf Price into Google and you
will get a number of dealers who sell the Maple Leaf or you
can buy directly from the Royal Canadian Mint.

The Maple Leaf is four nines pure, the same as investment grade
wafer. You pay the daily spot price plus a premium. This price is
updated daily by the RCM. Right now the spot price is $595.
A purchase of ten coins goes for $616 per coin.

The coins can be exchanged at any bank worldwide that deals in investment
grade gold.

[CountAllVotes]

25. given the price at the moment I'd suggest this

Go to www.usmint.com

click on the link for online buying.

When you get to the next page click on the box for American Eagles.

They were selling a very nice proof set of 4 proof gold coins for $1350.

On edit: I just checked the U.S. Mint's website and they are sold out of Gold Eagle proofs and also the coin set. Oh well ...

:kick:

[texastoast]

4. Buy old gold

or poison the earth with arsenic supporting the mining of new gold.

"The lives of 50,000 mostly impoverished people living in the mine catchment area have changed forever. Faulkner has hired a team of Australian mediation experts who have held an estimated 500 meetings as they try to hammer out an agreement that attempts to compensate villagers for the mine's dramatic environmental and social effects."

full story

http://www.theaustralian.news.com.au/common/story_page/0,5744,18666850%255E28737,00.html

Superfund sites due to gold mining (and there are more):

http://www.epa.gov/superfund/sites/npl/nar1725.htm

http://www.epa.gov/region8/sf/sites/co/sville.html


:dilemma:

[dcfirefighter]

6. There is just as much blood on old gold

If the old gold had no value, the new gold wouldn't be mined. So, the one who covets the old gold causes the new gold to be mined. But, whatever lets you sleep at night.

[benburch]

9. Much of the gold now in circulation has beein in circulation for centuries

Your gold wedding band likely has some of the gold of ancient kings in it because nobody every throws away gold, and the ruins of burned cities were sifted through for gold.

[texastoast]

11. Maybe gold is just a symptom

of values gone wrong.

[dcfirefighter]

12. Gold values are a symptom

of lack of trust in world currencies, particularly the USD.

Unfortunately, gold doesn't make good money - it's just barter. It makes great barter, as it's compact and doesn't die or rot.

Money, as a concept, is a social product. It is a Public Good, as defined by the economists.

It needs several attributes:
1. It must have a positive value
2. It must keep that value in a fairly stable manner.

The means to give money a positive value is to ensure that it will be accepted somewhere, by someone, in exchange for a debt or for something else of value. It used to be that you could exchange money for precious metals - in which case it was still barter, but using receipts instead of chunks of metal. Of course, the banks figured out they could print more receipts than they had chunks of metal, much to their benefit. Otherwise, we would have had a terribly deflationary currency, as more and more people chased after a relatively fixed amount of metal. But, instead of fixing the problem, we let the banks profit from printing more receipts.
A better means of ensuring a positive value, from a social goods perspective, is to guarantee that the currency will be accepted for debts collectable by the government - you can pay taxes with it.

To keep the value stable, the overall number of currency units must not fluctuate much. The notes can't just be printed willy-nilly. They have to have strict limits to the number that are printed or destroyed. Currently we allow banks to create check money by issuing loans, and we have very little control over the process.

[texastoast]

13. There have been a lot of

goldbugs on the site recently. One of the discussions I've been monitoring on some of the other less progressive sites is "What we've got to remember are God, Guns, Gold, and Gardens."

Maybe you could post your thoughts on gold and get a dialog going about the pros and cons. The posts I've seen here recently are all about investing, and, as you have said, there are many aspects. Lots of people I know had no idea that gold mining can cause a superfund situation. I believe that a lot of progressives would look twice before investing in clearcutting a forest, meat packing, or Middle East Oil. Hopefully, that same thoughtfulness will extend to gold and progressives will not turn a blind eye.

[Odin2005]

16. Old Gold is just as tainted.

Many of us probably have gold jewely that came from Inca stuff the Spaniards melted and shipped of to Europe

[texastoast]

17. Let's be practical

You have a lot of "progressives" on this board who want to invest in gold, apparently with no regard to the new environmental damage renewed interest in buying gold will cause. Such investments are short-sighted in my opinion.

All gold is tainted. Old gold has the blood of people. New gold has new blood and new poison.

[Lefty48197]

7. $600 gold and $11 silver?

Christ, I missed the boat on both of them. I wonder if they're done rising? I heard that China just recently allowed their people to own gold, and it's expected that there will be a demand shift resulting in permanently higher prices.

[sendero]

18. 11? try 12!

Silver has done much better than gold has. Woo hoo :)

[AlienGirl]

24. IMO they are not done rising

The worse the dollar gets, the higher precious metals will go.

Tucker

[KAT119]

14. Most popular-easiest to buy & sell=1oz Gold or Silver coins!!

Most popular websites for Gold info or to purchase(kitco.com) are:http://www.thebulliondesk.com or http://www.kitco.com

Look for coin dealer in your area. They charge $20.00 extra per coin at time of purchase for the coinage minting process from bullion. When you sell - the coin dealer buys your coins at 'SPOT' which is listed on the above websites at time of New York commodity market closing, which is 1:30PM ET-not sure re when times changex2 each year(daylight savings time etc.)

Gold and other precious metals will SOAR in event of attack here or Iran-Israel etc.

Homeland" Security" now assumes the right to steal all valuables from your safety deposit box in a time of national crisis- so Bury your valuables in yard -or wall in your home. See: http://www.google.com/search?hl=en&q=homeland+security+safe+deposit+boxes

You can always Sell your Gold or barter for food/water etc. w/ it. Gold (and silver) are the only REAL money. Gold certificates and paper dollars are based only on a promise and your faith (fiat) in that promise.

US dollar IS seen world-wide as on verge of total collapse-aided by * gov't & IT'S PLAN(PNAC) for permanent totalitarianism. They can easily close the banks & print a new currency & everyone works for the US military in order to eat. Typical Dictatorship MODUS OPERANDI, unfortunately!

Every knows the value of 1oz-or 1/2 oz-or1/4 oz Gold/Silver American Eagles-more popular than Maple leaves etc.

[Greyhound]

21. Local dealers are getting 20% - 40% over spot price, if you know where I

can lay my hands on quality coinage for $20 over spot please post it.

[Mojorabbit]

23. I buy mine on ebay

from dealers with over a 1000 feedback. There are lots of dealers with still sealed from the mint coins.
Have not had any problem so far doing this.

[CountAllVotes]

26. cheapest I know is here

www.golddealer.com

Click on Bullion Coin Prices ...

I've never personally dealt with them but a good friend of mine has and has only good things to say about them.