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Gold Is Not An Investment.

 
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Valued Member
United States
432 Posts
 Posted 09/03/2019  02:34 am  Show Profile   Check yellow88's eBay Listings Bookmark this reply Add yellow88 to your friends list Get a Link to this Reply
"A World In Debt" by Freeman Tilden

Digitalized early edition available free online and is downloadable as a PDF. Link below.

https://archive.org/details/AWorldI...lden/page/n2

Bauman Rare Books writes a brief, yet succinct, description of this rare but essentially unknown book. Link below.

https://www.baumanrarebooks.com/rar.../104549.aspx
New Member
United States
36 Posts
 Posted 09/03/2019  1:52 pm  Show Profile   Bookmark this reply Add grinx76 to your friends list Get a Link to this Reply
fistfulladirt, please elaborate?


Quote:
even bought and paid for property will always have two owners. Always.
Pillar of the Community
United States
3789 Posts
 Posted 09/03/2019  2:31 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
@grinx76

If you fail to pay property tax, the second owners (I don't have to spell them out) step in and push you out.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
New Member
United States
36 Posts
 Posted 09/03/2019  2:54 pm  Show Profile   Bookmark this reply Add grinx76 to your friends list Get a Link to this Reply
thank you!
very true
Bedrock of the Community
Australia
15994 Posts
 Posted 09/03/2019  5:54 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Invest in pork belly futures instead.
Pillar of the Community
United States
1992 Posts
 Posted 09/05/2019  07:46 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
In the current seller's market, a few interesting semi-rare gold coins are showing up, at reasonable prices. Dates that normally show up once every couple years.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Pillar of the Community
United States
516 Posts
 Posted 09/06/2019  3:42 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
I work in financial services and the underlying logic (well for people in finance) is that Gold/Silver/Other precious metals are good for:
1) Physical Wealth Storage
2) Hedge against inflation
3) Speculative investment

Looking long term precious metals have not kept pace with inflation, but for speculative investing one can do really well. You could also do really badly, as an example if you purchased gold in 2009 and sold it in late 2011 you would have doubled your money in less than 2 years. BUT if you purchased it on 1/27/2015 and sold it on 5/23/2019 you have lost a few cents plus the cost of inflation. But if you purchased it on 5/23/2019, I would consider selling it as its close to 3/4/2013 high.
Edited by hfjacinto
09/06/2019 3:43 pm
Pillar of the Community
United States
516 Posts
 Posted 09/06/2019  3:52 pm  Show Profile   Bookmark this reply Add hfjacinto to your friends list Get a Link to this Reply
Even better, if you purchased gold on 2/1/1980 at $671 an ounce you would need to hold it till to 5/1/2006 (26 years) to sell it at 687 and make a small profit. Not a great investment.
Pillar of the Community
United States
1992 Posts
 Posted 09/13/2019  9:45 pm  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Last Tuesday was an excellent day to get out. Proceeds from the bullion piggy bank went into the coin collecting piggy bank.

Sell on top and don't look back. It might go higher.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
09/13/2019 9:53 pm
Pillar of the Community
United States
3789 Posts
 Posted 09/14/2019  06:03 am  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Never have considered selling.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
Pillar of the Community
United States
1992 Posts
 Posted 09/14/2019  09:27 am  Show Profile   Bookmark this reply Add thq to your friends list Get a Link to this Reply
Neither did my dad fistfulladirt. I was the executor and I liquidated everything. I was surprised that the gold coins were the only things in his accumulation of stuff that were worth much. It changed my perspective on hoarding:

-Don't hoard rocks, old clunker cars, lumber, jars of screws, paint, chemicals and modern proof sets. You have made the executor's life miserable.

-A hoard is only worth something if you sell it. However it can be a good temporary store of value.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Valued Member
United States
134 Posts
 Posted 09/14/2019  09:30 am  Show Profile   Bookmark this reply Add Sasquatch to your friends list Get a Link to this Reply
I bought some gold a year ago and just sold it for $300 profit per coin.
Gold prices are erratic. More so than any other precious metal. It may stay steady for a decade, or it may double in price in a couple of years.
It suffers from the the whims of the powerful and influential, and positioning from politicians.

I am guessing it will come down in price for christmas and then back up before the elections.
Not for real world conditions, but for imaginary ones from the government leaders positioning for the next race.
Pillar of the Community
United States
522 Posts
 Posted 10/06/2019  6:36 pm  Show Profile   Bookmark this reply Add Ballyhoo to your friends list Get a Link to this Reply
While I do agree with the post somewhat, I would argue on the long term ownership. By that, I would say over the course of twenty plus years. In my lifetime, I could have bought gold for under $800 per ounce. But, like most, I was young and held off until age and wisdom caught up with me, or in this case you could say hind sight. Being fifteen years from retirement, silver has the greater return value dollar for dollar. With gold I would be lucky to see a 75 percent return versus double on silver. I bought quite a bit of it around the early 2000's for 6-7 dollars per ounce. Which makes it double based on Fridays close at $17.63 over a twenty year period. One only needs to look back on the charts. On the other hand, and it is more luck than anything, in fifteen years gold may be spiking as it had in 2012. Had I bought at $800 I would have doubled at the time. The current close of just over 1500 still falls short of doubling. Either way, it's the inevitable risk factor. I do have both in my holdings, but much, much more in silver.

What you're missing here, is that paper, whether in currency or bonds are a perceived illusion set by suits around a polished oak table. They are valued in opinion, or "full faith and credit". This can change at any moment in today's global economy. Precious metals, on the other hand, are real and will always hold value. For me, I'll take what's real rather than made up.

So my point is, if you're under thirty buy gold. If older, buy silver. Welcome to the forum!
Pillar of the Community
Canada
790 Posts
 Posted 10/07/2019  10:44 am  Show Profile   Bookmark this reply Add punman to your friends list Get a Link to this Reply
So when your hair turns silver, buy silver?!!
Do I sell when I go bald?
Edited by punman
10/07/2019 10:44 am
Pillar of the Community
United States
3789 Posts
 Posted 10/07/2019  6:57 pm  Show Profile   Bookmark this reply Add fistfulladirt to your friends list Get a Link to this Reply
Ha ha Punman!
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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