Investing in gold..

[beachmaster]

With the US Minted gold coins, like $5, $10, $50 coins, can't you just go to the bank, plop down a $100 bill, and say I want my US Treasury Gold Coins?? They can only be sold at face value from a bank, but they are solid gold, and a $50.00 coin is worth about $850 in FRNs based on the weight.

Just curious... I want to try it, but I want to make sure I'm not going to walk into the bank and get laughed at for wanting to get gold coins at face value.

You'd definitely get laughed at!

 

[phoenixzorn]

You'd definitely get laughed at!

So here's the question of the day then... How did that guy in Nevada acquire all those gold coins to pay his employees at their "by weight" value and then report their income at only the face value of the coins? He wouldn't have actually paid market price for the gold coins, he would have only paid face value.

 

[eric_cartman]

Is it better to buy gold or to buy gold stocks? I'm kinda newbie at the whole investing thing, but i'm wondering what direction to go.

if i were you... i'd call up the people at euro pacific capital

http://www.europac.net

the president of the company is a guy named peter schiff who is a big ron paul supporter, and he's actually now officially part of the campaign as an economic adviser to ron paul. he's huge into gold... he's been buying gold for many years. his company mainly uses a thing called the perth mint program in australia to buy gold for his clients. there are many advantages to buying gold this way. but trust me... whoever is reading this... go to the site, check it out. he fully understands what's going on with the economy and has the same outlook as ron paul. he's trying to protect people's money from inflation.

 

[robert4rp08]

My opinion... as for gold, best to get 1 oz coin as they have a lower premium. The smaller the gold coin, the more you pay in dealer premium (amount tacked on to the actual gold value). So for larger amounts of your wealth storage, get 1 oz coins.

For smaller units, daily bartering, etc., get bags of "junk" silver US coins (90% silver).

Adjusted for inflation, gold and silver are very cheap now. To match it's high back in 80 or so, gold would have to be about $2300 (again, adjust for inflation), or so I read recently from an article on Kitco.com.

Be sure to hide it good!

/agreed

 

[robert4rp08]

So here's the question of the day then... How did that guy in Nevada acquire all those gold coins to pay his employees at their "by weight" value and then report their income at only the face value of the coins? He wouldn't have actually paid market price for the gold coins, he would have only paid face value.

He paid market price for the coins and paid his employees with them. Remember, you have the right to make any contract, i.e., work for $1 coins instead of a "paycheck." The employees did not report their income because the LEGAL face value of the coins was less than the threshold for filing. Ironically, the government argued that they had to report the intrinsic value of the coins as their income.

 

[Maltheus]

I would definitely own some coins, but for larger purchases, I like:

http://www.goldmoney.com/

The premium is smaller than with coins (especially if you order your GoldMoney GoldGrams through Kitco) and you can sell whenever and however much you want with the click of a button. Your bullion isn't pooled, is insured through Lloyds of London and is auditing annually by Deloitte and Touche. The guy who runs it, James Turk, is highly regarded in the PM community. You can choose between storing your bullion in their London or Zurich vaults (although they only let you store silver in the London vault right now). This means that you PM is safe, even if the US starts confiscating again.

The downside of GoldMoney is that they discontinued ACH deposits, forcing you to rely on international wire transfers. They did this to help keep the money launderers aways and, by extension, US government attention (like e-Gold). Also, you have to worry about keeping track of your own capital gains for tax purposes.

Still, it's safer than keeping too much gold/silver in your own house. And if they make it illegal here, then you can simply move out of the country and not have to worry about sneaking all of those coins out with you. If there's a mass sell-off of precious metals, then you don't have to scrounge for a coin dealer to buy your stacks from you. They have plans to introduce a debit card as well this year. I'm not sure if that'll actually come about, but think how cool a gold-backed debit card would be?

 

[JSutter]

it's safer than keeping too much gold/silver in your own house. And if they make it illegal here, then you can simply move out of the country

Moving out of the country sounds much easier than finding a safe hiding place for your coins. What will plan B be if they close the borders during a national emergency and outlaw bullion?

 

[beachmaster]

it's safer than keeping too much gold/silver in your own house. And if they make it illegal here, then you can simply move out of the country

Moving out of the country sounds much easier than finding a safe hiding place for your coins. What will plan B be if they close the borders during a national emergency and outlaw bullion?

They haven't done too good a job of closing the borders so far! They're wide ass open! lol

 

[Cooter]

well, ive dug a nice hole in the backyard. i can buy me some gold now.

 

[Cooter]

another question. looking at gold prices back in 2001 was about $200+ for an oz. now $900+ for an oz. would it be wise to wait to see if it came down, or considering the shape of our economy maybe its not coming down and could be $1800 an oz in 10 years?

 

[icon124]

If you think times won't get to bad yet I would do both...start investing in gold, but at the same time get some gold stocks...then in a few months take that profit and invest in real assets...that's assuming of course gold doesn't rise as fast as the companies stock price does

 

[american.swan]

I scanned the thread looking for the vid and I didn't see it.

Strange.

Someone should have posted this. Bit old maybe.

http://video.google.com/videoplay?d...=39&start=0&num=10&so=0&type=search&plindex=0

 

[ARealConservative]

another question. looking at gold prices back in 2001 was about $200+ for an oz. now $900+ for an oz. would it be wise to wait to see if it came down, or considering the shape of our economy maybe its not coming down and could be $1800 an oz in 10 years?

the low price in 2001 for a gallon of gas was $1.14 or so. The high that year never went above around $1.50.

So will gold get that cheap again? I doubt it, but if it did I wouldn't get too bummed about your gold losing value because that also would mean that prices of goods got real cheap again and you will be able to save (and buy plenty of now cheap gold).

In other words - buy without remorse.