Gold price facts and milestones on road to $800
- Thread starter profette_IHB
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awgee_IHB
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<p>bkshopr - I feel very comfortable recommending folks buy small amounts of gold as a hedge against inflation. And I feel very comfortable holding large amounts for myself and recommending to my family and friends that they hold large amounts. But ... it gets more complicated recommending large amounts to blogging aquaintances and others. And I will do my best to explain why.</p>
<p>Asking if it is a good time to buy gold is like asking if it is a good time to buy a three bedroom, two bath home. If I have intimate knowledge of you and your situation, I could give you my assessment. Buying a home is a very personal decision and a personal financial decision and an objective financial decision.</p>
<p>Well, investing large amounts in any asset class is personal, IMO. It is not just a matter of the asset, but the persons involved and their needs are huge factors. So, that said, here we go:</p>
<p>Why did your wife inquire about gold? What does she know about gold? What do you know about gold? How much involvement have you had with your portfolio in the past? And if not much, why not?</p>
<p>bkshopr, you are obviously very good at research. IMO, investing wisely takes research, just like buying a home. If you trust someone else to do your research or find you a home or make your loan decisions, you will probably not end up with a home that fulfills your needs, eh?</p>
<p>Here are some questions to research: What is gold? In the past? Now? Why do folks value gold? Or why do they not value it? Can you live in gold, like you do a home? Can you use gold for energy, like oil? Is there any practical use for gold and how much use is there? Does gold pay a dividend, like some stocks do? Or interest, like bonds do? How has gold done as an investment over the years? Again, what is gold?</p>
<p>What is money? Is gold money? Has gold been money in the past? Might it be money in the future? Why does the price of gold change in terms of currencies? What is monetary inflation? How is monetary inflation different than price inflation? What is monetary deflation? What is a credit crunch?</p>
<p>And lastly, to answer mino: I am invested in mining and precious metal royalty stocks and I am not comfortable recommending them to anyone who is not my family or close friend. There is a saying that goes something like this, "A mining company is a liar standing over a hole in the ground."</p>
<p>Asking if it is a good time to buy gold is like asking if it is a good time to buy a three bedroom, two bath home. If I have intimate knowledge of you and your situation, I could give you my assessment. Buying a home is a very personal decision and a personal financial decision and an objective financial decision.</p>
<p>Well, investing large amounts in any asset class is personal, IMO. It is not just a matter of the asset, but the persons involved and their needs are huge factors. So, that said, here we go:</p>
<p>Why did your wife inquire about gold? What does she know about gold? What do you know about gold? How much involvement have you had with your portfolio in the past? And if not much, why not?</p>
<p>bkshopr, you are obviously very good at research. IMO, investing wisely takes research, just like buying a home. If you trust someone else to do your research or find you a home or make your loan decisions, you will probably not end up with a home that fulfills your needs, eh?</p>
<p>Here are some questions to research: What is gold? In the past? Now? Why do folks value gold? Or why do they not value it? Can you live in gold, like you do a home? Can you use gold for energy, like oil? Is there any practical use for gold and how much use is there? Does gold pay a dividend, like some stocks do? Or interest, like bonds do? How has gold done as an investment over the years? Again, what is gold?</p>
<p>What is money? Is gold money? Has gold been money in the past? Might it be money in the future? Why does the price of gold change in terms of currencies? What is monetary inflation? How is monetary inflation different than price inflation? What is monetary deflation? What is a credit crunch?</p>
<p>And lastly, to answer mino: I am invested in mining and precious metal royalty stocks and I am not comfortable recommending them to anyone who is not my family or close friend. There is a saying that goes something like this, "A mining company is a liar standing over a hole in the ground."</p>
Anonymous_IHB
New member
<p>Could always put a lovely gold toilet in that 3 br/2 ba house ... </p>
<p>http://www.local6.com/news/2015103/detail.html</p>
<p>http://www.local6.com/news/2015103/detail.html</p>
momopi_IHB
New member
bkshopr: May I recommend the book "<em>the coffee house investor</em>"?
QH Renter_IHB
New member
All I need is my solid gold house and my rocket car! /Chester Lampwick
Nude_IHB
New member
<p>So, you can now order these from the US Mint:</p>
<p><img height="300" width="300" alt="" src="http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/Z81_popup.jpg" /></p>
<p>At $1200, they are ~$210 above the current CMX price. The premium is due to them being "proof" coins. My question is: How likely are they to retain that 'value' if things settle down and we avoid actually using gold for currency/trade/barter in a worst case scenario?</p>
<p><img height="300" width="300" alt="" src="http://catalog.usmint.gov/wcsstore/ConsumerDirect/images/catalog/en_US/Z81_popup.jpg" /></p>
<p>At $1200, they are ~$210 above the current CMX price. The premium is due to them being "proof" coins. My question is: How likely are they to retain that 'value' if things settle down and we avoid actually using gold for currency/trade/barter in a worst case scenario?</p>
wendyinoc_IHB
New member
I was wondering that too. I just bought the Dolly Madison gold coin at $530 and now the next first lady (Monroe) is at $615. Although, both coins are not sold out due to the high cost for gold.
Anonymous_IHB
New member
<p>So how much is this worth now 
?</p>
<p><a href="http://www.bloomberg.com/apps/news?pid=20601082&sid=aeCwEp0qT3P4&refer=canada">http://www.bloomberg.com/apps/news?pid=20601082&sid=aeCwEp0qT3P4&refer=canada</a></p>
<p>The 100-kilogram (220-pound) coin, which is 99.999 percent pure gold, the largest and purest piece ever made, was shown to reporters for the first time today at the mint in Ottawa. </p>
<p>...</p>
<p>There's demand for this coin, it's one of a kind,'' said Nicholas Sarantes, vice-president of Santa Monica, California- based A-Mark Precious Metals Inc. The company bought three and plans to resell them for more than $2.6 million each. ``It's an amazing investment.'' </p>
?</p><p><a href="http://www.bloomberg.com/apps/news?pid=20601082&sid=aeCwEp0qT3P4&refer=canada">http://www.bloomberg.com/apps/news?pid=20601082&sid=aeCwEp0qT3P4&refer=canada</a></p>
<p>The 100-kilogram (220-pound) coin, which is 99.999 percent pure gold, the largest and purest piece ever made, was shown to reporters for the first time today at the mint in Ottawa. </p>
<p>...</p>
<p>There's demand for this coin, it's one of a kind,'' said Nicholas Sarantes, vice-president of Santa Monica, California- based A-Mark Precious Metals Inc. The company bought three and plans to resell them for more than $2.6 million each. ``It's an amazing investment.'' </p>