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I remember when times were bad (or were they good? Depends on who you are at the time, I guess), my mom bought gold bullions and coins. I mentioned this in another thread. Looks like prices are going up to a point where I feel comfortable selling what I have in the safe deposit box. If I'm right, it's about $10K - $20K worth - I have no idea because I can't remember exactly what and how much I have. I don't know how much my mom paid for the items, but the price is finally at a point where I feel comfortable selling them and not worrying about a loss - I suspect she got them when they were about $600 (on a bandwagon), but there might have been a few that she bought at the high, which I remembered to be about $900'ish.
Anyway, before I sell, I figure I should ask some questions like (1) what exactly is the gold for? If paper money is worth nothing some day (will that day really come?) ... maybe we're at war (like we're being attacked) - how exactly am I supposed to use this gold to buy food or pay my health care premium?
Assuming that I'm convinced that I should keep the gold... or even buy more, how much gold should I have? Our total assets are about $2M which includes 2 CA homes. Right now I guess I have 1/2 to 1% of holdings in gold. I wouldn't buy more now but hopefully will remember when the prices go down the next time around.
Anything else I should know? What to do? :confused:
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