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Gold Is Not An Investment.

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Valued Member
Canada
118 Posts
 Posted 11/06/2019  12:02 pm  Show Profile   Bookmark this reply Add Lakeman to your friends list Get a Link to this Reply
Awesome Punman!!
Valued Member
United States
164 Posts
 Posted 01/31/2020  6:32 pm  Show Profile   Check Lancek's eBay Listings Bookmark this reply Add Lancek to your friends list Get a Link to this Reply
I had a client who listens to a certain AM radio talk show personality. Who is heavily sponsored by a company called "Goldline". My client became convinced the economy was going to collapse. And wanted to move all his retirement money to gold. I couldn't stop him, but at least I got him to only move half. That was when gold was at $1750. Within a year it was around $1100. For him, yeah horrible investment.

I on the other hand, took the collapse of gold and silver as a good time to buy. I bought a little gold at $1100, $1200. I bought a lot of silver at $14 $15 $16. I think I'll do ok.

I also bought heavily into the stock market during the "great recession". Did really well there. It's all a matter of timing and perspective.

My wife bought herself a nice gold necklace not long after she got her first real job. She saves everything so out of curiosity I asked if she saved the receipt. She had. Just in melt it worth 3x what she paid for it. And she has worn it hundreds of times over the years. It doesn't tarnish. It doesn't corrode. If it get a little dirty a quick dip in some jewelry cleaner makes it look as good as new. Because it is. So there is also that aspect to consider.
Bedrock of the Community
Australia
16654 Posts
 Posted 01/31/2020  6:53 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I have just bought U.S. $6,500 worth of Pt bullion.
(6x1oz. Maple Leafs). Buy / sell spread currently for these:- 8%.

Why? -Two reasons:-

1. For a long time, Pt price has been considerably below the gold price.
2. Interest bearing deposit matured, new rate offered 1.25%.
Inflation rate 1.8%.
Real loss 0.55%, loss on %6,500:- $36 per year, guaranteed.

When I die, my kids will get into my safe, and just pocket the bullion for themselves. No tax records.

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To yield a profit, the buy spread rate has to be amortized over the investment period, plus has to increase in price at more than an average or better than the 1.8% inflation rate over the investment period.

Otherwise, I should have stayed with my guaranteed loss producing interest bearing deposit.
Edited by sel_69l
01/31/2020 11:28 pm
CCF Advertiser
United States
39 Posts
 Posted 02/16/2020  10:40 pm  Show Profile   Bookmark this reply Add Paradime Coins to your friends list Get a Link to this Reply
Gold is an definitely a long term investment. Don't think we witnessed value of gold going down in the long run. However whether it is a wise investment or not is a separate question. And that entirely is dependent on what the objective is. There surely is some fascination towards the gold that many countries have witnesses culturally or otherwise.
Bedrock of the Community
Australia
16654 Posts
 Posted 02/17/2020  04:22 am  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
I am selling about 2 ounces of modern proof NCLT gold coins tomorrow.
I have been offered exactly nil premium for the numismatic value.
But that's OK, the gold price has risen quite nicely just recently

I am giving all of the money to my daughter, and she will pay down her mortgage with it.
Advantages for her:-
1. She has a mortgage to pay off, but she has never paid rent in her life, so she saves with nil rent and yet will own outright, a valuable piece of real estate.
2. She is on a reducible mortgage loan, so what she pays off has an investment rate percentage that is equal to the rate of the mortgage.
3. Now is a good time to sell gold, because it is on a good rising trend just now, and she continues on the UP elevator with the mortgage rate.

I have an obligation to help my kids, because my parents helped me. In fact, the actual gold that I am now selling was a bequest from my mom.

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The growth of my numismatic collection continues unabated. I will buy a $500 numismatic ancient coin tomorrow.
My two kids will equally share in the money from the auction of my collection, after I kick the bucket. That is my instruction to them as joint executors.
However, I am considering to instruct them before I kark it.
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