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Everybody loves gold now.

coltguscoltgus Posts: 337 ✭
in U.S. Coin Forum
but when it was $280 everyone said it was a relic from the past. Maybe gold is going to $10,000 for all I know. What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now. Or silver, or platinum.
I'd rather be lucky than good.

Comments

  • CB2597CB2597 Posts: 3,042


    << <i>What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now. Or silver, or platinum. >>


    image Really? So if i loaded up on gold back in the 80's and sell them at almost 3x the original price i still will won't break even??? Pls.explain.thx image
  • eCoinquesteCoinquest Posts: 1,485 ✭✭✭
    "Gold is money, nothing else"
  • ChrisRxChrisRx Posts: 5,619 ✭✭✭✭


    << <i>

    << <i>What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now. Or silver, or platinum. >>


    image Really? So if i loaded up on gold back in the 80's and sell them at almost 3x the original price i still will won't break even??? Pls.explain.thx image >>



    I N F L A T I O N
    image
  • derrybderryb Posts: 36,680 ✭✭✭✭✭
    Gold buys dollars (or euros, francs, etc.)
    How many does it buy? That remains to be seen.

    Gold protects its owner from inflation, that's all. A smart owner will use his gold to make money on the ups and downs in the market.

    The only way to make an economic system truly stable is to permit the free market to take over.

  • ziggy29ziggy29 Posts: 18,668 ✭✭✭


    << <i>Really? So if i loaded up on gold back in the 80's and sell them at almost 3x the original price i still will won't break even??? Pls.explain.thx image >>

    You'd have a few more dollars, but those dollars would be worth 40% of what they were worth in 1980.

    In order to break even with inflation at its 1980 peak, gold would have to be well over $2000 an ounce.
  • DoubleEagle59DoubleEagle59 Posts: 8,275 ✭✭✭✭✭
    What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now. Or silver, or platinum.

    It amazes me that people always take the very peak of gold in 1980 to make the case why gold can be a bad investment.

    If we're playing that game, how about the Nasdaq in the year 2000 when it was north of 5000? How about we choose a few Nasdaq stocks that reached their peak of $300 and now are trading for $2 . How about BearStearns?

    Bottomline is - if you buy ANY thing at the peak time, you aren't going to make much money, you'll most likely lose money.
    "Gold is money, and nothing else" (JP Morgan, 1912)

    "“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)

    "I only golf on days that end in 'Y'" (DE59)
  • roadrunnerroadrunner Posts: 28,303 ✭✭✭✭✭
    If you do buy at the peak, and it took massive manipulations to kill that peak, and then you continue massive manipulations to keep that peak from every occuring again....then you get what is happening today. Only today the kitchen sink was tossed at gold months ago. Not much left to toss at the problem.

    What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now

    This stale argument gets trotted out about once a quarter. But then again, we'll be trotting out the NASDAQ example for the next 20 years as well (and there will still be people holding some of those stocks waiting for the come back). I know a number of people at work who are still in the company's 401K Tech Stock Mutual Fund from 2000. They are still trying to get their money back too.

    Show us 1 person you know personally that bought gold bullion in 1980 as an investment and still has it today (no credit for jewelry either. I bought wedding bands in May 1980 and paid a ton, but investment was not a consideration). It might be easier to sight a Bigfoot imo.

    roadrunner
    Barbarous Relic No More, LSCC -GoldSeek--shadow stats--SafeHaven--321gold
  • eCoinquesteCoinquest Posts: 1,485 ✭✭✭
    I know that my grandfather bought 2 oz. of gold in 1980 and still has them now.
  • OneCentOneCent Posts: 3,561 ✭


    << <i>...It might be easier to sight a Bigfoot imo.

    roadrunner >>



    Sorry, couldn't resistimage

    image

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    imageimage
    Collector of Early 20th Century U.S. Coinage.
    ANA Member R-3147111
  • coltguscoltgus Posts: 337 ✭
    I'm an investor. My way is to buy things that are down a lot and hope they don't go lower ( which they often do ). Others like to buy things that are up a lot and hope they go higher. I shouldn't have mentioned gold from 1980 because that wasn't my point. My point was precious metals are up a lot and in my experience it is far more likely there will be a big pull back than a continued moon shot. So if you want to buy precious metals it might be a good idea to wait or buy some every month.
    I'd rather be lucky than good.
  • LincolnCentManLincolnCentMan Posts: 5,347 ✭✭✭✭
    but when it was $280 everyone said it was a relic from the past. Maybe gold is going to $10,000 for all I know. What I do know is the people that loaded up back in 1980 still aren't close to even and I wouldn't buy it now. Or silver, or platinum.

    Baring a large % of the world's population dieing off, I think gold will hit $10,000 an oz before it hits $280 an oz. ...though, I think I'll be dead before it happens... I'm 33. In otherwords, I dont think $280 gold will ever happen again.

    -David
    Lincolncentman Toned Lincolns
  • RedTigerRedTiger Posts: 5,608 ✭


    << <i>I know that my grandfather bought 2 oz. of gold in 1980 and still has them now. >>



    I knew one guy that bought a couple rolls of Kruggerands at $600+ back in 1979/80. Can't be certain he still has it, but 90% that he does. Gold only traded above $800 for two days, back then, so finding someone who bought at $800+ and is still holding for the 28 years is about the odds of personally knowing a big lottery winner. They are out there, but not many.

    Investment blog: gold, stocks and more
  • waynemewayneme Posts: 852 ✭
    I bought gold and silver on my profits in 86 still holding lock'em them up in a lock box
    their in play now as i stated their profits
    so count me in
    and i played the stock market in the late 90's
    now i'm back in metals since 2001
    hopeing for a profit
  • BBNBBN Posts: 3,761 ✭✭✭
    no matter what anyone says bad about gold it never hurts to have about 5-10% of your money in gold.

    Positive BST Transactions (buyers and sellers): wondercoin, blu62vette, BAJJERFAN, privatecoin, blu62vette, AlanLastufka, privatecoin

    #1 1951 Bowman Los Angeles Rams Team Set
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  • BruceswarBruceswar Posts: 2,869


    << <i>

    << <i>I know that my grandfather bought 2 oz. of gold in 1980 and still has them now. >>



    I knew one guy that bought a couple rolls of Kruggerands at $600+ back in 1979/80. Can't be certain he still has it, but 90% that he does. Gold only traded above $800 for two days, back then, so finding someone who bought at $800+ and is still holding for the 28 years is about the odds of personally knowing a big lottery winner. They are out there, but not many. >>



    Back in the 80's people were buying silver and gold like never before. Companies back then would charge people HUGE premiums with gold. There was no internet and people bought coins at over 800 alot. I know a man who still has some of these with original receipts. Like a 1983 3 coin British set that is not even a full once.. $875.00
    The Bruce Lee Collection


    image

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