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<p>[QUOTE=&quot;Juan Blanco, post: 1568975, member: 41665&quot;]I don&#039;t think one negative example (PMs 1980-1982/4) trumps <i>hundreds of examples of failed currencies over centuries</i>, but we need to clarify a point: </p><p><br /></p><p>Money is never an investment, in the classical sense. Physical money and PMs (as an &quot;alternative monetary instrument&quot;) are correctly called &quot;real assets&quot; but produce nothing by themselses - in fact, such instruments typically suffer negative carry-costs/inflation. There&#039;s no income dividend or yield; no capital appreciation is presumed with Money itself. It&#039;s wrong to conflate &quot;money&quot; with &quot;investments,&quot; avoid the pitfalls of that misunderstanding. </p><p><br /></p><p>fwiw I&#039;ve also never met anyone who &quot;made money&quot; market-timing PMs but (by contrast) many have by accumulating stocks prudently. <i>Caveat emptor </i>to over-eager bullionists, there&#039;s essentially no alpha there!</p><p><br /></p><p>Bullion has a different purpose, it&#039;s a real asset reserve. For decades, <i>that </i>was pointless (and actually, punitive) - not now. I&#039;ve favored dip-buying PMs since 2002; continue to do so until the USD$ regime ultimately fails. Why? History teaches that ALL PAPER FAILS, eventually. For this reasonable presumption (it will occur in our lifetime) abit of bullion <i>as a hedge and reserve against USD$ Paper investments &amp; money </i>makes perfect sense to the prudent. </p><p><br /></p><p>Cheap premium Maples = value-buying, IMO. </p><p><br /></p><p><u>COINS, as an &quot;investment&quot;?</u></p><p><u></u>Buying on PM dips now and going forward, I think Chinese Pandas, Imperial Roubles, (old Au) Brazilian Reis and Indian Gold Coins (Tanks, Half Ashrafi, Mohur, etc.) will protect capital and outperform inflation in all Paper currencies over the next 10-30 years. In all coin choice-alternatives, I suppose <i>real investment potential </i>may exist in the BRICs&#039; high value numismatic collectibles. </p><p><br /></p><p>This thesis presumes a diversified portfolio of numismatic BRICs should offer real capital appreciation: providing alpha over zero (where Spot approximates real long-term inflation.) My loaded premise is that<i> Gold tracks real inflation over time far better than any fiatsco currency would</i> - but realize that Au also may NOT perform to par at any given moment. </p><p><br /></p><p>There are still a host of potential downsides to admit (theft/confiscation, taxes, fraud, poor Buy/Sell points or &quot;usurious premiums&quot;, etc.) but these have corresponding risks or worse in Paper investments too. </p><p><br /></p><p>That&#039;s my two cents, anyway.[/QUOTE]</p><p><br /></p>

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