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 Replies: 31 / Views: 5,643 |
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Valued Member
South Africa
453 Posts |
How do you guys afford gold? Do you save or what because its just to expensive for me! What is your secret?
*** Moved by Staff to a more appropriate forum. ***
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Bedrock of the Community
Australia
21786 Posts |
Discretionary money to spend on your hobby is a relative thing.
Before I married, I had more discretionary money to spend than when I had a growing family and a mortgage.
Now, my family is grown up and moved away. I am now a widower and I don't have a growing family or a mortgage, so now I can spend what I wish. Gold coins are EASY to buy. I don't have to save to buy them.
I would MUCH rather have the poorer life.
"Don't worry, be happy." - Bobby Mc.Ferrin.
Edited by sel_69l
08/12/2014 02:55 am
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Pillar of the Community
Canada
5417 Posts |
As Sel said, money is relative, 5 years ago I was still focusing on studying hard so I could get good grades. Now I have a job, am single and aside from what I spend on basic needs and put into my saving account, I have very few expenses. So a good chunk of my disposable income goes into coins. My parents obviously as first though it was ridiculous, spending thousands on coins but I see it this way: I'm going to spend the money on something anyways, perhaps a car, shoes, expensive things I don't need. So now I just spend it on expensive things I don't need (coins) but that which I enjoy.
But I'm more of a silver bug and will buy silver coins more expensive that gold coins.
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Bedrock of the Community
United Kingdom
17911 Posts |
I don't have that many gold coins, but most of them I bought some years ago, when gold was a lot cheaper than it is now.
During the late 1980s and early 1990s, in addition to my regular job, I did extra work for a local firm from time to time at weekends. My rule was only to buy gold coins with the money I got for this extra work, not with my regular salary. So, if I had a fallow period with no casual weekend work, I bought no gold coins.
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Pillar of the Community
Korea, Republic Of
1881 Posts |
A 0.5 gram gold coin is very affordable, less than $100. That's how I plan to add a gold piece to my collection one day. But at this moment I've got some other currency to spend the $50~100 on.  |
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Pillar of the Community
Canada
5417 Posts |
Quote:
A 0.5 gram gold coin is very affordable, less than $100. That's how I plan to add a gold piece to my collection one day. But at this moment I've got some other currency to spend the $50~100 on. You must be talking about a commemorative then, issued by some major mint and grossly overpriced. One gram of pure gold is currently valued at $42 USD. So 1/2 gram is $21. If you're looking to add gold to you collection cheaply, just buy a 1/10oz round for ~$150 or a 1/20oz round for ~$80. I personally don't recommend going under 1/4oz fractions for bullion gold but definitely don't buy under 1/20oz under any conditions. |
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Pillar of the Community
United States
4333 Posts |
My old man used to say "40 hours a week pays the bills...overtime buys the toys". So I got myself a union job.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
Australia
7096 Posts |
I have only 9 gold coins. I didn't buy them because of their metal composition or content, I got them because I wanted them for my collections. Yes they are expensive but so are many of the coins I want/need. Its called "Collecting"  |
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Pillar of the Community
Canada
3692 Posts |
I just want to get one thing off my chest. If you're collecting physical gold, you don't really look at the spot price. Unless you go to Africa, meet up with a RAW gold dealer, get the mercury removed by way of refining it (at a price), THEN you can have access to the spot price. Until then pay the premium of living 10,000 miles away from war zones.
I get any 24K I can get, it's actually useful stuff if you know how to use it. As for coins, I only get what I can afford (small gold coins) and it's rare that I pick them up. If I could keep only a few coins as my desert island coins it would be my gold coins.
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Pillar of the Community
United States
919 Posts |
Keep in mind that in the early 2000's you could buy $20 Double Eagles for $400-500 each. Some went below $400. I have picked up a few gold coins along the way but can't wait for a shot like they got 10 years ago.
Edited by tpg22
08/12/2014 2:04 pm
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Valued Member
United Kingdom
183 Posts |
you could consider buying silver and looking for
a part exchange for gold should the ratio become
favourable enough to make that realistic?
apart from those that are born rich, everyone else
starts from simple beginnings.
HH
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Valued Member
 South Africa
453 Posts |
I can buy 1/10 kruger rand for $120 that is hugely expensive,but I think I should take the chance just to get the gold rolling, I think its a must in all coin collections
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Pillar of the Community
United States
589 Posts |
Gold can be had in all price range.
Vials of gold flake in tubes $2
.025gram gold bar on e-bay for $4
World's smallest gold coin from Lib for $30
gram of gold for under $50
1/10 oz gold coins from around the world $145-$160
$2 1/2 Indian gold NGC AU-58 around $270
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Bedrock of the Community
Australia
21786 Posts |
For me, a gold coin does not have any particular mistique, just because it is a gold coin; it takes it's place in my collection due to it's importance in my collection as A coin.
Their main problem is that they just cost more to obtain, and so much fewer gold coins are represented in my collection than any other metal or alloy.
Once ANY coin (gold or otherwise), takes it's place in my collection, it's value is not of much importance. That's roughly the same attitude as a museum.
The posession of ancient coins has changed my mindset somewhat. I don't actually OWN any coin, I am merely the custodian of it. Another responsible 'owner' will hopefully keep it after MY demise.
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Valued Member
South Africa
453 Posts |
True sel 69 BUT my 79 morgan is coming with me to the grave, silver bullion is for my old age when I retire, collect 1 set sell one set, and if I should go now I know my kids will have a good life because of my silver stacking....that is if my family dont steal it first lol
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Pillar of the Community
United States
1158 Posts |
Most people get paid every two weeks. If you buy a silver round every two weeks after 2.5 years you can trade them in for an ounce of gold.
Like most things, the secret is time and patience.
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Replies: 31 / Views: 5,643 |
Posted 08/12/2014 03:17 am
