Interesting article regarding Gold

[haha]

That's why, for silver, I do not buy coins. I buy sterling silverware (usually at or below spot). A few years ago, you could find great bargains in used/antique silverware because silver had lost its luster in our hectic modern society. It requires too much maintenance (cleaning, polishing, etc...) and people couldn't be bothered with it. So it was easy enough to find people willing to give you a good price to get rid of "grandma's stuff" (and I was happy to oblige). I am sure they are now regretting "giving away" the family jewels.

How do you find it?

Ha

 

[Dennis]

Well, I think all this Hype about buying Gold /Coins is A Conspiricy put out buy the sellers..trying to scare people into buying them and maybe even the Gold Mkrs as well.. They crawl out of the wood work everytime their are problems in the world..

Investing in it? Sure, just buy the usual COMX, GLD, etc..

Before We' had to resort to having to use Gold to Live on? WWIII will be here and Gone.. and us with it..or not much left worth staying for either...

I owned Gold Coins frm Canada yrs ago( 70's) and after paying $25 to $50/yr for a safety Dep.box for them for 10 yrs? I got rid of them..

My Neighbor? He got them about 10 yrs ago thru his Dad's estate.. Kept them at his Home..Big Mistake.. One of his Kids stoled them and Pawned them all over a EuropeTrip....LOL

 

[FIREd]

How do you find it?

Ha

3 places:
1) Estate auctions
2) Antique stores (not the upscale kind) and consignment shops
3) Ebay

I have a small electronic scale that I take with me to assess the amount of silver in the item I want to purchase (or I rely on the seller to provide me with the information if I can't weigh the item myself) and I make a low ball offer based on the silver content. Sometimes it works and sometimes it doesn't. I try to find attractive things that could be easily resold in a pinch (classic and simple designs, useful items, good brands but no Tiffany either otherwise you have to pay a premium for the brand). I only buy items that are clearly hallmarked and assayed. Items that are engraved or monogrammed usually sell at a discount for a comparable amount of silver. I don't mind items with very small dings and scratches as I can polish/buff those out pretty easily.

It's getting harder to find good deals which could be a sign that, in this economic environment, people have started to realize the value of their family jewels and they expect to be paid accordingly. But I bought a tray last month on Ebay for 20% less than spot (including shipping). So there are still some good deals to be found.

 

[ejman]

I bought gold close to 30 years ago back in 1980 at close to the peak of $850/oz (Canadian Maple Leafs). The talk back then was also about oil exploding and the world as we know it coming to an end. The stock market back then was not doing so hot either so I thought - why not. So I sat on my "investment" waiting for the forecasts of gold at $3,000 plus to come true (Yes, the forecasts were at that level even back then). Well, the world did not comply with the gold prognosticators but , being a long term investors i held for about 15 years to the mid 90's where I finally sold at about $300 or so an ounce. In the meantime, I did not have a penny in dividends and of course, I had commissions both buying and selling.

Since gold is supposed to be a hedge against inflation I guess what the trip from $800 to $300 over 15 years tells me is that there was one hell of a deflation during those 15 years. Too bad my regular living expenses which I had to pay for in regular dollars didn't seem to agree with that conclusion during that period.

Of course, maybe this time it really is different...

 

[mark500]

"So I sat on my "investment" waiting for the forecasts of gold at $3,000 plus to come true (Yes, the forecasts were at that level even back then)."

Isn't that what Peter Schiff has been predicting?
I think the gold market sees a lot of pump and dump.

 

[accountingsucks]

Eric Sprott is one of the biggest gold bugs here in Canada along with John Embrey. They have both been predicting financial disaster for thirty years. His Sprott Canadian Equity fund had the best 10 year return of any fund in Canada (something close to 20% a year) and I owned it for awhile but sold it last year as it is essentially a natural resource fund. Last year this fund was slaughtered as it held alot of oil and gas trusts. In addition it had some substantial positions in holdings that went from 20 cents to over $10 (Timminco, Allen Vanguard, Thompson Creek ) and then came crashing back to earth in 2008.

 

[DAYDREAMER]

Ok people, This sight has turned down right doomerish. Even the talk of purchasing gold/silver on this sight is beyond belief. This tells me that we have reached bottom, because even the strongest believers in the benefits of investing in equities have given up. Come Monday morning, I am going to strongly dollar cost average back in. Based on this thread, I call bottom

 

[ziggy29]

Based on this thread, I call bottom

How can you call a bottom now when we're already about 12% higher than we were a few days ago?

 

[DAYDREAMER]

good point. I call bottom last Monday, today