Bought an ounce of gold.

[youngbuck]

In response to a thread I started a few days ago, What do you see gold doing over the next several weeks? Buy now, or wait?, I decided to pull the trigger on a 1-oz Gold Buffalo.

I decided to do this because I believe that:

1. We will see more QE.
2. Our national debt will continue to rise, making the prospect of raising interest rates all the more unlikely once this iteration of QE is finished.
3. We're gearing up for more overseas warfare, which will cause the price of gold to increase.

I also expect the debt crisis in Europe and Japan to eventually spread to here, and all along the way the price of gold will be increasing. In the short term, I think we'll see some fluctuation in the price of gold, but I'm convinced it'll be in a bull market for over the next 5 years, at least.

I went with the Buffalo because I thought it was an awesome looking coin, and it was .9999 pure (just like the Canadian Maple) as oppose to the Gold Eagle with was .9167. The higher purity better appealed to me for investment purposes.

 

[Seraphim]

Good stuff bro.

 

[Seraphim]

5-10 years from now, thats nearly a year in rent. Or a year on a lower payment mortgage. Solid.

 

[oyarde]

In response to a thread I started a few days ago, What do you see gold doing over the next several weeks? Buy now, or wait?, I decided to pull the trigger on a 1-oz Gold Buffalo.

I decided to do this because I believe that:

1. We will see more QE.
2. Our national debt will continue to rise, making the prospect of raising interest rates all the more unlikely once this iteration of QE is finished.
3. We're gearing up for more overseas warfare, which will cause the price of gold to increase.

I also expect the debt crisis in Europe and Japan to eventually spread to here, and all along the way the price of gold will be increasing. In the short term, I think we'll see some fluctuation in the price of gold, but I'm convinced it'll be in a bull market for over the next 5 years, at least.

I went with the Buffalo because I thought it was an awesome looking coin, and it was .9999 pure (just like the Canadian Maple) as oppose to the Gold Eagle with was .9167. The higher purity better appealed to me for investment purposes.

Cool , I would have gone with the eagles though ....

 

[cubical]

It's pretty isn't it? I used to have some silver buffaloes, but currently have some other 1oz gold coins. Hopefully this is the first of many. Your future children will thank you.

 

[PaulStandsTall]

Beautiful coin! Excellent choice.

Gold's value will hold steady, whereas the worldwide currencies are a house of cards. Think of it like this: You're getting an early start on using the new world monetary standard!

 

[youngbuck]

Cool , I would have gone with the eagles though ....

Why? Any substantial reasons, or just purely personal preference?

 

[oyarde]

Why? Any substantial reasons, or just purely personal preference?

Yeah ,but you will think I am nuts , same reason I have a huge collection of silver dimes . If it actually gets to the point where we have to use them to barter/purchase something with , I figure the smaller denominations will be better.

 

[tbone717]

Yeah ,but you will think I am nuts , same reason I have a huge collection of silver dimes . If it actually gets to the point where we have to use them to barter/purchase something with , I figure the smaller denominations will be better.

I have silver dollars for exactly the same purpose.

Regarding gold (and silver for that matter), I have always had a nice diversity in my portfolio: 25% each of precious metals, stocks, bonds and cash. I reevaluate every 6 months and re balance. When metals are doing well and stocks are doing bad, I will sell off the metals and buy stocks - and vice versa and all around. This was essentially the plan that Harry Browne used to teach, though I am hoping in years to come to add in other hard assets like real estate and collector cars to the mix.

 

[oyarde]

I have silver dollars for exactly the same purpose.

Regarding gold (and silver for that matter), I have always had a nice diversity in my portfolio: 25% each of precious metals, stocks, bonds and cash. I reevaluate every 6 months and re balance. When metals are doing well and stocks are doing bad, I will sell off the metals and buy stocks - and vice versa and all around. This was essentially the plan that Harry Browne used to teach, though I am hoping in years to come to add in other hard assets like real estate and collector cars to the mix.

Yeah , I bought some dollars this week , I had a bunch of quarters, halves and dollars but sold most of it when it got so high awhile back . I feel pretty good about what I paid this week.

 

[youngbuck]

Yeah ,but you will think I am nuts , same reason I have a huge collection of silver dimes . If it actually gets to the point where we have to use them to barter/purchase something with , I figure the smaller denominations will be better.

I don't think you're nuts in the least bit. For the same reason, I also have a bunch of silver, including a couple roles each of silver dimes and quarters.

It's pretty isn't it? I used to have some silver buffaloes, but currently have some other 1oz gold coins. Hopefully this is the first of many. Your future children will thank you.

Yea, it is! Though I don't have it in my possession yet. Need to wait for the check to clear and for them to ship it!

 

[cubical]

I have silver dollars for exactly the same purpose.

Regarding gold (and silver for that matter), I have always had a nice diversity in my portfolio: 25% each of precious metals, stocks, bonds and cash. I reevaluate every 6 months and re balance. When metals are doing well and stocks are doing bad, I will sell off the metals and buy stocks - and vice versa and all around. This was essentially the plan that Harry Browne used to teach, though I am hoping in years to come to add in other hard assets like real estate and collector cars to the mix.

You are in 25% bonds right now? Hopefully they are very short term.

 

[row row fight da powah]

Pardon my ignorance, but where's the best place to go to buy gold coins.

 

[cubical]

Pardon my ignorance, but where's the best place to go to buy gold coins.

Assuming you are only buying a small amount(few hundred dollars) go to your local coin shop.

 

[Arklatex]

Very Beautiful Coin

 

[John F Kennedy III]

Cool , I would have gone with the eagles though ....

Why does it matter?

 

[Tod]

May I ask where you bought it? I'm thinking of buying some physical gold but am not sure where to start.

 

[youngbuck]

May I ask where you bought it? I'm thinking of buying some physical gold but am not sure where to start.

Unfortunately, I paid a bit too much for it. Price-wise, I should have gone with http://www.providentmetals.com/ I've never dealt with them before, but as long as their service is good, their prices look excellent (for gold anyway).

 

[oyarde]

May I ask where you bought it? I'm thinking of buying some physical gold but am not sure where to start.

I do most of my business , here , Hardy's coin shop , ph 812 376 3219 , 2739 Central Ave Suite 2 , columbus , In 47201 .Open Wed & Sat.

 

[kezt777]

I dont have enough $$ to buy an ounce of gold but we did buy some silver when it was $17/ounce (paid $18 for each one) so I like playing with the big fat coins and knowing they doubled in value about a year after we bought them. We also have a stock pile of pennies after looking up the dates for higher copper amounts, and some dimes and quarters and whatnot as we come across them. The kids love to get in on this and look at the years and sort through everything. Maybe we wont need our coppers, but I dont want to wish sometime in the future that I had dug through the couch cushions more often Every little bit helps (hopefully!).

What alerted me to the silver was noticing that when the coin geeks put up shop in the mall, they NEVER have silver dollars anymore. EVER. I know they are hoarding, so I decided to become a hoarder too ha!

congrats on the purchase