Gold Investing Poll

Good evening fellas,

tonight I'd like to talk about Gold investing in particular lets talk about the quantity of Gold you buy at one time and what coin you prefer.

I would think most would buy 10 ounces or more and the preferred coin being the Canadian maple leaf for its purify of .9999

 

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I bought a gold kruggerand in 1978 and sold it a few years later. Never ownd anymore gold after that.

 

Yow - 10 ounces runs about 13 grand. Not one person in 20 on CT has that kind of bucks to speculate with. And although the Maple Leaf is my bullion coin of choice, I never think about the purity - that's baloney. A coin either contains an ounce of gold or it doesn't.

And yet the 0.9999 Maple Leaf's cheaper - today, $1243.39 on Apmex vs. $1255.59 for a 0.9167 Eagle. Go figger!

 

This is sort of interesting - a cube (in Paris) representing the global production of gold in one year. It's 5.36 meter sides translate to a little less than 18 feet.


The annual global output of gold, represented by the yellow cube, compared to a street corner in Paris.

 

my wife was in a car accident in 2004, received 250,000.00 in 2006, and she bought 100,000.00 dollars of gold, with the money, no coins, all jewelry, and stones, nicest stone is a 29 kt. Burmese Ruby, valued over a 100,000.00 dollar, I paid to have it set in gold and diamonds, I let my jeweler put it on display for 2 months. I'll take a photo of it tomorrow, 1 amazing stone.

 

you really think 1 in 20 people can afford to buy 10 oz or more at once?

 

it people like this, killing gold http://www.fool.com/investing/general/2014/09/13/why-warren-buffett-hates-gold.aspx

 

The funny thing is warren buffett has over a million dollars in Gold. He probably wants to buy more. I work at a precious metals exchange and there are quite a lot of individuals as well as portfolio managers who want gold right now. the price is right and nothing has the wealth preservation that gold does.

 

that sure wasn't in this article, just more games from the elite

 

I believe Warren Buffet to be a clever fool, having advised others, and taken an extremely large past position in Silver.

For a "balanced" assessment, I believe one should Google "Why
Warren Buffet Envies Gold Investors"

JMHO

 

I suspect that possibly 1 in 20 viewers of this site could purchase 10 ounces of Gold in a singular purchase,

My personal opinion is that unless one had an understanding of buyer interest in Gold products, the purchase would be foolish.

Hannes Tulving regularly sold a minimum order of 20 ounce Gold products to buyers. I often purchased one-tenth ounce Gold Eagles from him in 10 ounce lots, which were re-purchased by him as the market had a positive vacillation.

I also purchased and resold products as the 2009 UHR double eagles in large quantities, and others.

I would consider your suggestion of a product to be that of an uninformed buyer, who may rue their choice.

To directly answer your specific question, definitely NO.

JMHO

 

Okay, Josh, you got me, I just have to ask. When did you start working at a precious metals exchange? Is that your side-job when you are not at class?

 

I think the last time he mentioned his job, it was a coin shop. I could be wrong, but it definitely wasn't a PMEX.

Chris

 

I believe you'll find that in the State of Minnesota, Legislators and the Attorney General have virtually defined a "coin shop" as a "precious metals exchange".

The precedent may have already been established?

LOL

 

I beg to differ, silver is an entirely different commodity than gold.
That articles shows some key points about gold, essentially a very honest and true opinion about gold. It really is worthless, except for glamor and shine. Silver on the other hand, is widely used in the production of electronics, because it is the world's best conductor.

 

You do realize his net worth is over 67 billion? 1 million in gold is practically pocket change to him, and even if he did have the gold for whatever purpose. gold is a great commodity to hold on to, until the masses start realizing gold is essentially worthless (if ever).

 

Minnesota is also known as "the land of 10,000 lakes" so that argument doesn't hold water.

Chris

 

Gold is used in cell phones. Someone correct me if I'm wrong, but I believe that 130 million ounces are recycled annually from old cell phones.

Chris

 

Wrong, Gold WAS used in cell phones. They also used it in old computers, and electronics in general till they realized silver is a lot more efficient and inexpensive (compared to gold)