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Buying gold..

bballboybballboy Posts: 117
in Precious Metals
I'm really not very educated on the subject of buying gold

But from what I've seen and read, gold seems very safe to buy, as it always rises even if it falls.
Anyone know what I mean?

Is gold always a smart thing to buy?

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    HonoluluDudeHonoluluDude Posts: 2,167 ✭


    << <i>
    But from what I've seen and read, gold seems very safe to buy, as it always rises even if it falls.
    >>



    I think you should educate yourself about gold before buying.
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    bballboybballboy Posts: 117


    << <i>

    << <i>
    But from what I've seen and read, gold seems very safe to buy, as it always rises even if it falls.
    >>



    I think you should educate yourself about gold before buying. >>



    Perhaps you can help me with that image

    All I'm saying is, it seems like gold is always rising, even if it falls from time to time. It's also said to be very stable.
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    HonoluluDudeHonoluluDude Posts: 2,167 ✭


    << <i>It's also said to be very stable. >>



    It's ultra-volatile, not stable. Gold's not a buy-and-hold "investment". It's insurance.
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    fcfc Posts: 12,789 ✭✭✭


    << <i>

    << <i>It's also said to be very stable. >>



    It's ultra-volatile, not stable. Gold's not a buy-and-hold "investment". It's insurance. >>



    Gold can be a middle man thing. find a source of gold for lower
    then you can sell it at and make money that way.
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    konsolekonsole Posts: 788 ✭✭✭
    more people on here would probably recommend silver over gold but that still doesnt necessarily mean silver is better then gold. I think platinum has lost the most from its recent high so maybe platinum has the best upside potential? It's really hard to imagine any of the investment metals losing anymore then maybe another 10% before they continue moving higher again. So I would guess now is not a bad time to buy. Do your research though like others have said. Ya even if your precious metals investment falls you still feel like you have something very valuable as long as buy the physical metal.
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    SlangNRoxSlangNRox Posts: 774 ✭✭
    Like everyone else said do your research before buying. I wouldn't consider it an investment. It doesn't pay dividends and your bar/coin/stack of gold doesn't get bigger over time (unless of course you buy more) I think gold/silver/platinum/rhodium/palladium/ etc would be a good thing to have some of, but it all comes down to your own financial situation.
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    MoneyLAMoneyLA Posts: 1,825 ✭
    gold stable? were you around in 1980 when gold hit $875 an ounce and then collapsed to a low UNDER $200 an ounce..... it took more than 27 years for gold to return to the $875 level.

    yes, on a looooooong term basis, that is stability.

    LOL
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
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    BigRedBigRed Posts: 716
    OMHO gold is good to have some of, it has never went to being worth $0. Just don't bet the farm on it.
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    rgCoinGuyrgCoinGuy Posts: 7,478 ✭
    Gold has historically been a good STORE of wealth. It is probably best, like anything else, to dollar cost average (buy some every month). A lot of people recommend between 5-20% of your investments be in gold, but more as a hedge against inflation than an investment that is going to make you money.

    As others have stated, it is best to do research before committing to your investment strategy. Gold is close to its all time high, and could easily go the other direction. Or it could go up.
    imageQuid pro quo. Yes or no?
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    WegWeg Posts: 544
    "Gold is close to its all time high, and could easily go the other direction. Or it could go up."

    Speaking for myself only, in todays financial environment, I'd say for the next couple years, the odds are better for up side.
    Just stay away from numismatic gold.
    Remember, I'm pullen for ya; we're all in this together.---Red Green---
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    Stay away from numistmatic gold

    If you followed the above you probably missed out on some exceptional gains over the past 7 years with many items doubling or tripling up at times. I'm very glad I diversified into numistmatic gold. You certainly would have done better than stocks and protected your money from the dollar's fall over the past several years. There are some excellent opportunies today as well.

    What is the definition of "numismatic gold?" It could mean many different things to many people.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    SaorAlbaSaorAlba Posts: 7,486 ✭✭✭✭✭


    << <i>
    Just stay away from numismatic gold. >>



    I would disagree with that on one point, that is lightly circulated $20 Liberties which before all this mess came up with gold drying up, could be purchased for a modest percentage over bullion value.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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    ProofCollectionProofCollection Posts: 5,460 ✭✭✭✭✭


    << <i>Gold is close to its all time high, and could easily go the other direction. Or it could go up. >>



    Maybe in absolute dollar terms, but not when you adjust for inflation...
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    ProofCollectionProofCollection Posts: 5,460 ✭✭✭✭✭


    << <i>

    << <i>
    Just stay away from numismatic gold. >>



    I would disagree with that on one point, that is lightly circulated $20 Liberties which before all this mess came up with gold drying up, could be purchased for a modest percentage over bullion value. >>



    I agree, there is not a huge difference in spot and AU/BU libs and saints, and the pre-1933 gold has one more advantage... it is more likely than any other gold to be deemed "collectible" and thus immune from confiscation.
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    fishcookerfishcooker Posts: 3,446 ✭✭
    Nothing is always a smart thing to buy.

    However, it is always best to buy things that fit your money management strategy.

    I would also say it's always best to buy things after you already have a plan for how to sell them.
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    ttownttown Posts: 4,472 ✭✭✭
    Just stay away from numismatic gold.

    Actually this is one of the best way to enjoy and store gold. If you were in the market when gold was $260 you would have found MS61 1924 Saints selling for around $425. Although you lose the premium when gold spikes it allows you a safety net as it goes down. JMO
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    MoneyLAMoneyLA Posts: 1,825 ✭
    Whoa!!!

    Bullion gold and "numismatic gold" are different investments... period.

    They should not be confused or substituted for each other. Each has a purpose.

    The same way bullion gold and gold jewelry are different investments.... bullion gold and numismatic gold are different investments.

    Even common date gold coins that are not "rare" or are circulated are in fact "numismatic gold," but just lack the premium that rare numismatic gold coins have.
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
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    roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    So which of the following Saints are numismatic gold and which are bullion? I have my own thoughts, the IRS has theirs, Homeland Security has their definition, and most everyone here has an opinion.

    AU circs
    MS61
    MS62
    MS63
    MS64
    MS65
    MS66 ?

    By the way, MS64 an MS65 saints now at the highest level they've been at since the early 1990s. $1485/$1850. Another 5% jump in the 65's since yesterday and $500 in a month's time. Curiously 66's are still slow at around $2600. I consider all MS saints to be numismatic. The 64's and up are no brainer imo.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
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    MoneyLAMoneyLA Posts: 1,825 ✭
    all of your Saints are numismatic gold. they will have different values based on the numismatic marketplace.
    Cheers, Alan Mendelson
    www.AlanBestBuys.com
    www.VegasBestBuys.com
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    BoomBoom Posts: 10,165 ✭
    Man, I am STILL SERIOUSLY upset at myself for deviating from my original plan at or around the turn of the Century.

    Gold was cheap as dirt. I could get $20 St. Gaudens' for right at $300. I wanted to put everything on Gold - no other coins, no Registry set but somehow got sidetracked.

    Had I put out the same amount of money I have building my set and other US coins instead, I would have at least tripled my Net Worth.

    The sayings, "shoulda, coulda, woulda" and "hindsight is 20/20" have NEVER been more appropriate!

    I should NEVER have deviated from my original plan! DAMN!! imageimageimage
    Boom's Retired Registry Set & Boom's Retired Variety Set
    image
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    sonde79sonde79 Posts: 94
    read. check the market value and buy a few gold bullion coins here and there as you learn. don't jump into anything quickly. it is better for you to spread your purchases over the course of the year. you can't beat the market.
    Canadian Gold Coin Auctions | World Gold Coin Auctions
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    7over87over8 Posts: 4,733 ✭✭✭
    guys, i believe the wording in the Patriot Act calls any coin "bullion" if it's value is less than twice it's bullion value.

    that puts any Saint in that category under $1600 bucks......that means generic MS64's just make it into numismatic category under the Patriot Act
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