should i buy gold?

Ok sorry

 

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No problem... thanks for editing your post.

 

Ha ha... yeah, how cute.

 

Now I only have 80, originally 2 months ago at the beginning of this hobby I had 300, ugh

 

I think this is the funniest thread I've seen here in a long time. ointnlaugh:

But it does go to show that what's posted on internet message boards has to be taken with a grain of salt because you just don't know who is posting what! Even the pictures can be fake or misleading.

The original question here does deserve some honest responses though. (BTW, as you read this post you'll realize I'm NOT 12 years old and I have thousands of dollars in physical gold and silver! You're just gonna have to believe that!)

gunnovice09, if you don't have any pressing bills or credit card accounts where you are paying 12-20% interest on, then sure, cash the matured bonds and look to buy something that will give you better interest or long term equity. Otherwise, pay off any accounts that are costing you interest.

If you don't have other monetary obligations, you have what is called discretionary money. You have options. Some of those options will end up costing you more in the long run, like trying to buy collector's coins. Besides the gold or silver content, these would probably be the best bet as they will tend to keep their value longer than just physical gold or silver. But if you are ignorant to WHICH coin to buy, it's better to not get involved until you spend countless hours learning the trade.

Second best option, in my opinion, is to look to convert your paper dollars to physical gold or silver. I first did this when silver was $4-5 an ounce and gold was just $50 an ounce. As it turned out, Gold was the better investment. It's really a gamble. Both silver and gold move up and down for any reason. You have to decide if you're buying strictly for appreciation or just because it would be nice to own some. Or to pass along what you get to your girlfriend or children. People own gold and silver for various reasons...diversification, fear, inflation, uncertainty, etc. With $800, I would consider it a "fun" but necessary investment.

I would buy silver or gold that is easily recognizable and generally accepted almost anywhere. Hopefully you can get some without paying high premiums. Unfortunately, when you buy and sell you must give up a portion of your investment. So, for a beginner, I would get some American Silver Eagles or Golden Eagles, either one. Depends on your personal desires. The gold eagles come in fractional sizes also.

Yep, that's what I'd do.

 

I beleve it, I just want that kind of cash

 

Before I said I was 12 did you have any idea I was a kid from my posts

 

Yes! :rollling: It was quite obvious, actually.

 

yes.

 

Of course... and as a twleve year old you should know that giving serious financial advice requires a little more experience than what you have. However, I applaud your youthful enthusiam.

 

Uh, I have silver investments, my dad once had stock!

 

just because you own silver and your dad owned stock doesn't mean that you are an investing master. I'm only 15 and own gold, silver, and shares of a company, but I still don't feel that I could tell someone what they should do with their money. I read books and listen to people as much as I can, and then make my own judgements off of that. Oh well, if that's what you like to do, go for it.

 

Thanks guys for all the help especially witty. I agree you can never have too many guns lol

 

i agree.

 

i agree. why do you want gold? it is basically a stock that you can hold in your hand. metals are not for the faint of heart. within one day they can go up or down drastically. when silver did its run last year a lot of new people bought into it at $40 plus an oz and a week later they lost 30/50%. if you're doing it long term i think you might be on the right track.

 

Since the financial advice comes from a kid, I would put more stock into Desertgem's advice before any 12 y/o's.

 

You didn't think you could mask that, did you?

 

Right now classic gold seems attractive. A $5 Liberty melts for about $440 and PCGS/NGC MS62 examples can be had in the $500 range. That would leave enough left over for a handful of ASEs. Nice little introduction to precious metals IMO.

 

Yes. But not until you have enough money buy your first ounce. Don't listen to the silver people.

 

may i ask what you mean by this? what is wrong with fractional gold or silver?