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-   -   Anyone own Gold/Sliver Bullion Bars? (https://www.early-retirement.org/forums/f28/anyone-own-gold-sliver-bullion-bars-31320.html)

cute fuzzy bunny 11-23-2007 04:27 PM

Aside from being illiquid, inconvenient, limited to local market pricing and the potential for loss or theft, I guess it'd be a great idea.

ash 11-23-2007 04:34 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 581194)
Aside from being illiquid, inconvenient, limited to local market pricing and the potential for loss or theft, I guess it'd be a great idea.

Whether one should invest in gold is another question, and a good one, about which you raise good points.

I was only offering an opinion that if one is going to invest in gold, why not do so anonymously and privately.

cute fuzzy bunny 11-23-2007 04:51 PM

My comments had to do with buying, holding and selling physical gold, not anything having to do with whether to invest in it or not.

ash 11-23-2007 05:04 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 581203)
My comments had to do with buying, holding and selling physical gold, not anything having to do with whether to invest in it or not.

Oh, I see, I misunderstood. Okay, my thoughts:

"illiquid, inconvenient" - While gold is highly liquid in one sense, true, you can't trade actual gold privately from your computer in your PJs.

"limited to local market pricing" - Perhaps. But If you're reasonably close to a major metropolitan center, I'd wager that there's enough competition to get a fair price.

"the potential for loss or theft" - Anything can be stolen. What's more safe, having gold locked away in a safety deposit box, or being the registered owner of some gold that someone else is holding for you? I don't know the answer to that question, but it's a valid question.

cute fuzzy bunny 11-23-2007 05:08 PM

Or, as in the case of my FIL as mentioned above (who lives in the heart of Gold Country), he cant sell it to anyone at all at any reasonable price. The dealers dont wish to buy any more.

Thats pretty darn illiquid and inconvenient.

Also tells me that people who are in the business are expecting a price drop.

ash 11-23-2007 05:22 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 581211)
Or, as in the case of my FIL as mentioned above (who lives in the heart of Gold Country), he cant sell it to anyone at all at any reasonable price.

Well, how could you expect to sell gold in gold country!? You can't swing a dead cat there without hitting a fifty pound nugget of gold.

cute fuzzy bunny 11-23-2007 06:12 PM

Yep, you can actually pan for the stuff after a heavy rain and with a good days work might come up with a fleck or two. We had a huge mudslide after some early and heavy rains a couple of years back and the local stores were selling out of the pans and kits. A lot of guys came up with some nice chunks.

Point was, there must be a couple of dozen coin and metal shops downtown from my FIL's house. It sure isnt NYC or LA, but these guys do a serious business just in tourist transactions. Its a pretty good volume business and theres plenty of competition. He'd like to sell the coins right now because he feels the price is good and he could use the cash to do some work on his RV. But he cant.

ash 11-23-2007 06:35 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 581233)
Point was, there must be a couple of dozen coin and metal shops downtown from my FIL's house. It sure isnt NYC or LA, but these guys do a serious business just in tourist transactions. Its a pretty good volume business and theres plenty of competition. He'd like to sell the coins right now because he feels the price is good and he could use the cash to do some work on his RV. But he cant.

That's surprising. When you say he can't sell it, you mean they're offering too low of a price? Kitco is buying at $819 right now, which is within a few bucks of the spot price.

When you say downtown, are you talking about Sac? Have you tried Marconi Coin in Carmichael, that's not too far from gold country (30-45 minutes?).

cute fuzzy bunny 11-23-2007 06:39 PM

Yep, around that area. Sac to Grass Valley.

He went into some local shops and called a bunch more. They flat out told him they have all the gold they want to have in inventory at this time, and dont expect to buy anymore any time soon. I'm sure if he was willing to drop his pants they might take it.

cashflo2u2 11-28-2007 08:11 PM

I have a friend who owns his own printing business. One of the applications generates silver as a by product. He reclaims it somehow and has these large heavy silver bars in his office. They have been accumulating and kicking around his office for years and now they are worth quite a bit of money. He wants to keep them though, in case of emergency. Deep down I think he has bunker type survivalist mentality at heart.

Khan 11-28-2007 08:52 PM

Quote:

Originally Posted by cashflo2u2 (Post 582683)
I have a friend who owns his own printing business. One of the applications generates silver as a by product. He reclaims it somehow and has these large heavy silver bars in his office. They have been accumulating and kicking around his office for years and now they are worth quite a bit of money. He wants to keep them though, in case of emergency. Deep down I think he has bunker type survivalist mentality at heart.

A K and C survivalist?
(Kalashnikov and concertina wire)

Jeb-NY 11-29-2007 10:54 AM

Quote:

Originally Posted by cashflo2u2 (Post 582683)
I have a friend who owns his own printing business. One of the applications generates silver as a by product. He reclaims it somehow and has these large heavy silver bars in his office. They have been accumulating and kicking around his office for years and now they are worth quite a bit of money. He wants to keep them though, in case of emergency. Deep down I think he has bunker type survivalist mentality at heart.

Interesting turn in the reason to keep gold or silver. Just a few days ago a friend asked what I thought of the idea of keeping a bar of gold or silver in the safe for a major upheaval situation. He thought he could shave off a little at a time to buy necessities. I told him I didn't think it would work to well. I suggested a small bag of diamonds of different sizes you only expose what you are willing to trade. With more thought a well stocked gun cabinet would probably be more important.

:bat: ;D

Jeb

FinanceDude 11-29-2007 11:18 AM

Quote:

Originally Posted by Jeb-NY (Post 582846)
well. I suggested a small bag of diamonds of different sizes you only expose what you are willing to trade. With more thought a well stocked gun cabinet would probably be more important.

If you have guns, you can get all the gold, silver, or diamonds you need..........;)

calmloki 11-29-2007 10:31 PM

Quote:

Originally Posted by FinanceDude (Post 582854)
If you have guns, you can get all the gold, silver, or diamonds you need..........;)

Diversify: Lawyers, guns, and money.

Martha 11-30-2007 11:53 AM

Quote:

Originally Posted by calmloki (Post 583108)
Diversify: Lawyers, guns, and money.

Well I am fully diversified. Though overweight in lawyer. :p

cute fuzzy bunny 11-30-2007 11:59 AM

Not gonna touch it.

ziggy29 11-30-2007 12:01 PM

Gold is "financial apocalypse insurance". I think it's reasonable to have 3-5% of ones assets in it (for insurance and "diversification" purposes against the dollar) but more than that is probably a loser unless the worst case geopolitical and economic fears come to pass.

Martha 11-30-2007 12:15 PM

Quote:

Originally Posted by cute fuzzy bunny (Post 583220)
Not gonna touch it.


Please don't. I'd have to slap you.

cute fuzzy bunny 11-30-2007 12:25 PM

;D

ziggy29 11-30-2007 01:59 PM

Quote:

Originally Posted by Martha (Post 583238)
Please don't. I'd have to slap you.

I thought you were going to try to *discourage* him here...


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