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precious stones/ jewels
Old 01-28-2005, 08:30 AM   #1
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precious stones/ jewels

Does anyone have experience with purchasing stones for investments?

I've been reading alot of biographical accounts of the Holocaust and have been thinking it might not be a bad idea in case you ever had to go on the run, and had no way to access accounts. (this is not a troll post)

Any recommendations on how you would find a trustworthy gemologist? I know Costco sells stones.
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Re: precious stones/ jewels
Old 01-28-2005, 08:35 AM   #2
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Re: precious stones/ jewels

No personal experience other than buying some jewellry for women. However, you're going to be buying at retail and when you do sell you'll be selling at wholesale. Even if you buy at Costco.
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Re: precious stones/ jewels
Old 01-28-2005, 08:46 AM   #3
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Re: precious stones/ jewels

Yes, I guess I'm wondering how to get the prices closest to wholesale, knowing that one wouldn't even recover costs in such desperate situations. Some of the exchanges I read about: a precious stone/pendant for a cup of water, food, medicines, packet of poison.
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Re: precious stones/ jewels
Old 01-28-2005, 09:12 AM   #4
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Re: precious stones/ jewels

It was a Chinese thing growing up in the Pacific Northwest - avoids metal detectors.

Remember this, if you buy more than 10k a pop - the Feds want to know who you are - I forget the filing requirements.

I've bought from The House of Oynx - many years ago - most ended up getting confiscated by the SO and mounted into jewelry.

They have a web site - we went there in person over ten years ago in our active RV days.

The original founder died - the wife carries on - not as hard core/hard asset as the husband who pushed semi- precious as a way to combat fiat currency and inflation.
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Re: precious stones/ jewels
Old 01-28-2005, 10:24 AM   #5
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Re: precious stones/ jewels

Personally, I would not want to buy gems as an investment, the simple reason being technology. Lab diamonds are increasingly of higher quality, and I have even heard of gem quality diamonds being produced in the lab. I believe that as these gems become more common, the "value" of the gems (natural or other) will decrease. Some people will argue, but in the end, if you can't detect which is a "natural" gem or a synthetic gem, who is to say which is more valuable?

Elements such a gold are another matter.... until we master fusion, man-made nucleosynthesis is a LONG way off.
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Re: precious stones/ jewels
Old 01-28-2005, 10:28 AM   #6
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Re: precious stones/ jewels

As a followup to my last post-

http://www.wired.com/wired/archive/11.09/diamond.html
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Re: precious stones/ jewels
Old 01-28-2005, 11:55 AM   #7
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Re: precious stones/ jewels

If you think the precious metals markets are manipulated, wait until you research DeBeers' Machiavellian maneuvers...
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Re: precious stones/ jewels
Old 01-28-2005, 11:55 AM   #8
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Re: precious stones/ jewels

My DH's experience at looking at stones to hold as an investment is that middlemen charges tend to be too high to make it worthwhile.

Buy metal instead.
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Old 01-28-2005, 11:59 AM   #9
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Re: precious stones/ jewels

Quote:
Personally, I would not want to buy gems as an investment, the simple reason being technology.
marshac, good point. Counterfeiting of all kinds is the usually undiscussed problem with oddball "collectables". Years ago I knew a guy who made good money making undisclosed copies of colonial furniture and iron-forge memorabilia. His craft took a lot of skill, but I have recently read that modern copying methods make stamps for example very easy to fake.

mikey
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Old 01-28-2005, 01:31 PM   #10
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Re: precious stones/ jewels

Unless you are an expert, beware of "collectables"

And, even if you are, be extremely careful.

Cheers,

Charlie
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Old 01-28-2005, 01:33 PM   #11
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Re: precious stones/ jewels

One of my favorite Latin phrases: Caveat Emptor
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Re: precious stones/ jewels
Old 01-28-2005, 01:59 PM   #12
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Re: precious stones/ jewels

Quote:
Yes, I guess I'm wondering how to get the prices closest to wholesale, knowing that one wouldn't even recover costs in such desperate situations. *Some of the exchanges I read about: a precious stone/pendant for a cup of water, food, medicines, packet of poison. *
It seems to be pretty expensive insurance for a very very low probability event. If you are seriously worried about such things I would suggest that a bank/brokerage account outside the US and enough gold coins to get there would be a cheaper and probably more effective solution. If you're worried about metal detectors then paper currency from a few different countries could be sewn into your undies.
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Re: precious stones/ jewels
Old 01-29-2005, 03:44 AM   #13
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Re: precious stones/ jewels

Thanks for your replies. I hadn't thought of the synthetic stones.
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Re: precious stones/ jewels
Old 01-29-2005, 04:55 AM   #14
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Re: precious stones/ jewels

Down memory lane - circa 70's and to some extent early 80's: old guns, coins, stones, stamps and my all time favorite - for the end of the world - freeze dryed food - apparently, water will always be availible.

I bought a lot of water utilities in the 90's - bought out in the 2000's via cash mergers.
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