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Maggie’s Buying Gold

hugo121175

Sergeant
Full Member
Minuteman
Dec 16, 2009
591
0
48
Near Reading, PA
Has anyone bought gold, how does it work, and who did you buy it from?

I'm looking to convert some cash into gold. I don't want to invest in gold that some company owns and holds. I would like it delivered to my home......


Hugo
 
Re: Buying Gold

There are several places to buy it from. What kind of gold are you looking at to buy?

Ingots? Coins? Jewelry? Coins are easy. Any coin store would be able to help ya. They should be able to get ingots also. I bought all my 24K gold jewelry overseas.
 
Re: Buying Gold

I am looking at coins, or ingots. Something easy to hold on to, and to trade later.... I don't want to buy jewelry. I don't want to pay for craftmanship.... Just the gold
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Re: Buying Gold

Gold is really high right now, and supposedly it is going to take a dive soon. You might want to do a lot of research before you buy.
 
Re: Buying Gold

If Gold dives, then the dollar is getting stronger. I however, don't see any signs of that happening. In fact, if Gold reaches the 2K mark, we all need to prepare for economic disaster.

http://www.goldline.com/

..as a caveat, I'm putting more into Silver these days.
 
Re: Buying Gold

Ampex is a good site. i've used them to buy silver and a little gold . also i have bought a lot of both on ebay when it was low. i don't know if would buy at $1400/oz other then from a trusted pm dealer! good luck!
 
Re: Buying Gold

I would suggest checking out http://www.learcapital.com I was originally turned on to them by a friend who knew one of the managers there & I have had very good success with them as have quite a few of my friends.

They have a nice real time display of spot Gold / Silver / Platinum prices and the current buy / sell price for Gold and Silver etc. They will also ship directly to your home or business.

They also have a fairly nice referral program, if you are going to get over $1500 on your first time, have one of your friends log onto their web site and sign up for the referral program, then they give you a coupon code which gives you free shipping on your first order and your friend gets a small coin for free.

Basically it's pretty easy, if you see Gold at the price you want, you just buy it on their website, then you need to send them a personal check, a cashier's check or a wire transfer and then they will ship you the order. You can also call in and get listed with an account rep as you want. Do be aware that if you pay via check, they will wait 10 to 12 business days for the check to clear before they ship to you.

I would suggest watching their site and if you see things take a bit of a dip (like everyone is rushing into oil all of the sudden) and the price is right, grab some. For example at the beginning of this month, Gold dropped $100 and Silver dropped $4 so it was a good time to buy, as 3 weeks later, gold was up $100 again and silver was $6 higher.

Everybody has their own opinions about it so here are mine:

Buy in small batches when you find a good deal, waiting for the perfect mega drop may leave you wishing you had bought earlier. (But be ready if you see a crazy drop to get all you want)

Buy the American Eagle or Canadian Maple leaf coins or similar as they are easy to sell later on, avoid the bars, rounds or other odd stuff. Those coins are well respected and you can sell them for cash on the spot at most any gold/silver/jewelry dealer anytime you need without a hassle.

Gold is a good buy, but I would also get a good bunch of Silver as in the short term Silver may offer you a better return rate as well as being easier to sell in small amounts.
(For example about a year ago, gold was around the $1100 range and silver was around the $15 range, now gold is around the $1400 range and silver is around the $33 range)

Buy normal Gold Eagle / Silver Eagle / Gold Maple Leaf / Silver Maple Leaf coins & don't bother with all the over hyped "Numismatic Coins" (older or rarer ones) unless you understand those really well, because those are sold at huge premiums (the spread between buy / sell can easily be 30% or more)
 
Re: Buying Gold

Ingots may need to be weighed and assayed on sale if you take them into your own possession, while coins typically do not. Kruggerands are among the best known coins not yet mentioned, and are worth checking out.

John
 
Re: Buying Gold

do what the guys on gold rush did burn 300k and you can get a small bottle of powderd gold plus you get a show on the discovery channel
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: TypeR632</div><div class="ubbcode-body">Bulliondirect.com </div></div>

+1 for bulliondirect.

myself and others have had great luck with them. i bought gold and silver 2 years ago as a hedge against inflation. i went into it knowing that the price can a will go up/down, but it is there for worse case senerios. i never bought it to make a profit.
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: kthomas</div><div class="ubbcode-body"> supposedly it is going to take a dive soon </div></div>

Where are you hearing this?


Gold can be bought in the form of coins which (unless they're something special) are only going to worth their weight.

Funny enough you can get a lot of gold for little/no BS fees from a good pawn shop. Ordering gold from some company and having it delivered is an option too but then you're paying shipping and and that.

Silver is a good option too.

I loaded up on both along time ago when I was actually making money during the dot.com boom. Coins is going to the your best bet, just find some 18-24k coins and go for it. (keep in mind that 1oz of gold is not going to look impressive in your hand.
 
Re: Buying Gold

I have gotten most of mine from a local coin guy and a some from APMEX. If you buy some I would personally stay away from some of the european gold. Stick with the bullion coins such as the Eagles, Buffalos, Maple Leafs and even the Australian Kangaroos. The U.S. stuff is bringing the higher premium. As far as gold bubble getting ready to "Pop" it will when the fed stops printing money to buy our own debt, the government stops spending and when all the unrest around the world goes away. Don't think it is going to happen anytime soon, but I could be wrong. There is a reason why the richest people in the world are buying gold (Soros among them) and that the State of Texas bought $500 million worth last year. They might know something that the normal person doesn't. The media is pushing the idea that the economy is " Coming out of this recession" but what is different between now and 2008 when it crashed. Not much that I can think of other than that there is more civil unrest here and around the world, more spending, more entitlements, housing is getting hit hard again and oil going over $100 a barrel. At the same time commodities are going through the roof like corn and cotton.
Anyway I listened to my dad a long time ago and he started me one the way to picking it up here and there when he gave me my first Eagle and Krugerrand when back in 1986. Since then I have been picking some up here and there and I am still picking it up now when I can. But my average price per oz. is pretty low even when I pick some up nowadays. Now saying that buying gold really is not a way to get rich but more of a way to try to protect some of your wealth. However at the same time look at the price of gold and compare to the stock market over the last ten years. Gold does ok and there will always be times when gold takes a hit but it bounces back. It was down to $800 oz. in 2008 but it did not stay down there long.
 
Re: Buying Gold

I'm with kthomas and montana, there are other valuable metals that will be much more precious in the event that our currency becomes completely devalued: lead, copper, brass and blued steel.
 
Re: Buying Gold

I've been in the gold buying and selling business for almost 20 years. In my opinion, it's overpriced, but that doesn't mean it won't go higher. With the instability in the middle east, higher commodity prices, world demand increasing, gold my still be a safe investment. Something is going on with Paladium, it has been on fire. If gold does hit 2K, it would be wise to have lots of blued steel, brass, primers, and power in your portfolio.
 
Re: Buying Gold

I believe you can buy gold coins from the US Mint directly and also think you can deposit those into qualified IRA plans if you really are thinking about investing long term but check first as I'm not up to speed on the US Mint.

I'm not sure why you would want to own gold yourself. There is only downside to that strategy. If it were me I would go to a broker and get them to buy me a gold ETF (exchange traded fund). It trades like a stock on the exchange but it should mirror the gold price and you can buy/sell whenever you want (note this is not a mutual fund so you don't pay their high entry/exit charges...this is an ETF which carries normal stock market commission. Much cheaper to trade than a mutual fund and no annual management charges etc.

Also, if the ETF trades down and you lose money, you can sell the ETF and offset up to $3k per year against your orinary income (if you lose $6k you use $3k this yr and $3k can be rolled into next yr). Wait over 30 days before re-buying the ETF or this won't be allowed.
 
Re: Buying Gold

I invested in lead. I also know alchemy. When the SHTF, I can turn my lead into gold. Or food. Or fuel.
 
Re: Buying Gold

The people who are benefiting from gold transactions right now are the ones who are selling. The basic investment coda "Buy cheap, sell dear" is just as true about gold as about any other equity and commodity. In case you've noticed the recent spate of "Buy gold, buy gold now" advertisements, there's a reason. People need to be convinced, the economics themselves are not getting the job done.

In 65 years, I've never seen an instance where owning gold has made the average man any more powerful or better off. But I <span style="font-style: italic">have</span> seen considerable fear mongering being perpetrated by speculators.

Palladium plays a key role in the technologies associated with fuel cells.

Greg
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: montana</div><div class="ubbcode-body">Great time to buy gold when it is at record highs.... </div></div>

I thought that when I bought in at $950....only 11/2 years ago. Its now at $1417.19. Guess I fucked up.
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: hugo121175</div><div class="ubbcode-body">http://www.trendsresearch.com/SubscriberArea/gerald-celente-on-rob-mcnealy-show-18-feb-2011 </div></div>

This goes along with the quote above and why buy gold.

Teacher protesting in Wisconsin because they don't want their benefits taken away, makes people mad. You wanna know why?

Here:

Wisconsin Teaching Salaries and Benefits
People often believe that teachers don't make a lot of money. Those in the know, though, are aware that compensation in the education industry can be quite generous, especially when you factor in the great vacation schedule and the comprehensive benefits packages that usually go along with teaching. In Wisconsin, teaching salaries averaged $52,644 in 2009-10, according to the National Education Association, with most school districts offering benefits that range from health insurance to retirement plans. (1)

The average Wisconsin teacher salary does vary, however. One major source of salary variation is what grade level you teach. In May 2009, preschool teachers in Wisconsin earned an average salary of $23,460, elementary school teachers earned $51,240, and secondary school teachers earned $49,400. (2) Education and experience level also make a difference in teacher salaries: secondary school teachers in the 90th wage percentile earned $69,550, while the entry-level teacher salary is generally in the $30,000s. (3)

Geographic location is another significant reason for variation in Wisconsin teaching salaries. Areas that have a higher cost of living often pay correspondingly higher salaries. Below are average annual earnings for secondary school teachers in five of the largest metropolitan areas in the state: (4)
Green Bay: $55,110
Kenosha: $68,400
Madison: $50,770
Milwaukee: $54,620
Racine: $49,710

Source: http://www.teacher-world.com/teacher-salary/wisconsin.html

Think they make a lot look up California and NY teachers salaries it will make your head spin.

example:

The average pay in New York in public schools was already $45.79 per hour that year.

Source:
http://www.smartteaching.org/library/education-as-a-career-faqs/how-much-do-teachers-make-per-year/

While these people our out protesting in Wisconsin the rest of America only wishes it had it half as good as these teachers. In Los Angeles teachers should be ashamed of themselves, they have more than their fair share of failing schools and are some of they highest paid teachers in the country.

"According to information provided to the Daily News by the LAUSD, the average salary for teachers is $63,000 - not too shabby that.

But more than 8,500 teachers pull in between $70,000 and $80,000 a year. Nearly 2,000 make salaries between $80,000 and $100,000, with a very lucky (and likely very experienced) 331 enjoying more than $100,000 in annual salary.

And then there's a benefits package that would be the envy of any worker not in the public sector. Medical, dental, pension - let's just say that anybody who puts in their time at the LAUSD won't be uncomfortable in their golden years."

source: http://www.freerepublic.com/focus/f-news/2095889/posts

These are only a few examples of what public sector employees earn. Also, unlike private sector employees, the public sector employees get generous pensions that private sector employees can only dream about. This is why people are mad. This is why the wealthy are buying gold to protect their assets. Although this will effect everyone; it will effect the poor the most.

Jamie

edited to add: 2010 2011 LosAngeles teachers pay schedules http://www.teachinla.com/whyteach/salary.html
 
Re: Buying Gold

Public Unions are a fiscal cancer. They play no useful role in today's market economy. We have State and Federal laws that protect worker rights and so the 'protection' that unions allege they provide is a false premise.

I do not want to pay for the benefits, retirement and salary of someone who doesn't have to justify their position and remuneration on performance but instead, is protected by bully-boy collective actions.

What is it about a union worker that is so damned precious that they feel they deserve wage increases - every year, by contract - that is many times above the rate of inflation?!? Why do they feel the laws of the market economy do not apply to them?

Why have we not seen a SINGLE union leader recently protest at how hard it is to fire a poor performer within their profession? Why have we only seen these leeches argue for measures that make it impossible to improve performance metrics and raising of standards by weeding out the under-performers?

Because union leaders get paid via union dues paid my members.... a-ha!

Break the unions. Into tiny pieces that can't be put back together again and we'll go a long way to solving the fiscal issues facings States, Counties and Cities and get back on the track to making our businesses competitive and nimble.
 
Re: Buying Gold

I do think that some of the Unions are necessary, but some take advantage...
In 1973 when my father became a New York City Firefighter he was paid $9,300 per year, and top pay was $11,400 per year after three years.
When I got onto the FDNY in 2002 I was paid $32,000 per year and top pay was $62,000 per year after five years.
As of now starting pay is $39,000 and top pay is $76,000 after five years. If you look at the added "Fringe" pay it adds about $5,000 to $10,000 per year to your salary depending on how much seniority you may have. Problem is not everyone get the "Fringe" pay. You have to be on an Engine doing EMS work, be a chauffeur (driver), or work in a special unit. Otherwise, you may only get night differential which is about $50 to $100 per two week pay period.
The average firefighter puts 8.5% of his income into his pension, and has a 401K and/ or 457 retirement on the side where he could put another portion of his earnings. You can get the cheap-o GHI health plan for about $25 per pay, but you get what you pay for.....

I was force to retired after breaking my neck and back. I am 35 years old, and have a modest pension. I will never get a cost of living incease, or value added adjustment for my pension. By the time I am 50 my pension will be worth half of what it is now with the cost of inflation. I don't trust anyone with my money, and don't want any hot shot Wall St. cat flushinging it down the shitter..... I think hard currency is the way to go.....

Hugo
 
Re: Buying Gold

Unions are a cartel that was given an exemption from the Sherman Antitrust Act by the 1935 National Labor Relations Act, when Democrats controlled the White House and both houses of Congress. Because of the NLRA, they engage in lawful price fixing and restraint of trade.

In what Bizarro world does it make sense to allow laborers to collude to fix the price of their labors and deny employers access to non-union labor when their employers are denied the right to collude to fix either the cost of their product or the wages they will pay.

The mean price of gold is linked to other commodities. The Hope Diamond is only worth $300 million because someone is willing to pay that much for it. When the speculators no longer are willing to pay $1400 an ounce for gold, its price will come down and normalize.

If you're buying gold as a hedge against TEOTWAWKI, ask the citizens of New Orleans how much gold was worth after Katrina.
 
Re: Buying Gold

<span style="font-weight: bold">QUOTE:</span> <span style="font-style: italic">"I'm not sure why you would want to own gold yourself."</span>

Yeah, sure. Let a pin-striped bandit "manage" your gold for you. Great idea --- they're completely trustworthy. Your broker's mistress and his 40 foot yacht depend on your trust in paper wealth.

Owning "gold on paper" is the equivalent of keeping a photo of a pistol in your nightstand.


<span style="font-weight: bold">QUOTE:</span> <span style="font-style: italic">"...ask the citizens of New Orleans how much gold was worth after Katrina."</span>

That's irrelevant to gold's true value. Katrina was a localized disaster. Gold is a worldwide commodity. The gold in my safe didn't drop in price when N.O. flooded.

How much is gold worth <span style="font-weight: bold">now</span> in N.O.? The same as the rest of the world --- $1400 an oz. Remember: Paper isn't money --- Gold is money.
 
Re: Buying Gold

A few pics below of the gold vault where I work. As you can see, there is quite a bit in here. To give you some idea the facility is larger than a football field and it is row after row like this. Imagine the guns you could buy with this lot !
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CONTENT_3820751.jpg


CONTENT_3820771.jpg


CONTENT_3820761.jpg


CONTENT_3820781.jpg
 
Re: Buying Gold

28. Do you need my Social Security Number (SSN) when I buy coins/bars?
No. You only need to provide a SSN when you sell certain products back to us.*

*The new Health Care Act will require the disclosure of a SSN starting in 2012 for sales above a certain amount unless proposed legislation to repeal that portion of the Health Care law passes. There are a number of members of Congress and trade groups actively supporting repeal of this statute.

Obtained from http://www.goldline.com/faq-goldquestions

Hmmm....I really don't see a need for the Feds to know how much gold I'm purchasing, anyone else?
 
Re: Buying Gold

Were I buying gold (and I wouldn't because I think we're at a high point) I'd stick to coins like the Canada Maple Leaf.
 
Re: Buying Gold

The "OFFICIAL" gold Vendor for the NRA is Universal Coin and Bullion out of Beaumont Texas. 8oo-459-2646. Ask for Tom Cobb, a buddy of mine. He'll cheatya right
grin.gif
. Tell him Ian (as in Ian Anderson)told you to call.

Silver is hot right now, but gold always has a couple of advantages. One oz of gold is worth about 100 ounces of silver. If you have to slip across a border, or move around where you could be searched, its a lot easier to oil 3 one ounce gold coins and shove em up your keister and have $5000, than 100 silver. Not that I relish shoving gold coins up my ass
sick.gif
......just sayin
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Goldie</div><div class="ubbcode-body">One oz of gold is worth about 100 ounces of silver. If you have to slip across a border, or move around where you could be searched, its a lot easier to oil 3 one ounce gold coins and shove em up your keister and have $5000, than 100 silver. Not that I relish shoving gold coins up my ass
sick.gif
......just sayin </div></div>

There's a situation I hadn't considered.
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RollerCam</div><div class="ubbcode-body">...<span style="font-weight: bold">QUOTE:</span> <span style="font-style: italic">"...ask the citizens of New Orleans how much gold was worth after Katrina."</span>

That's irrelevant to gold's true value. Katrina was a localized disaster. Gold is a worldwide commodity. The gold in my safe didn't drop in price when N.O. flooded.

How much is gold worth <span style="font-weight: bold">now</span> in N.O.? The same as the rest of the world --- $1400 an oz. Remember: Paper isn't money --- Gold is money. </div></div>
That is one of the lamest straw man retorts I've ever seen.
 
Re: Buying Gold

Don't take this as investment advice, because it isn't, but personally, I'm not big on gold, oil or silver. I had long-term holdings in gold but sold. It's just too frothy for me.

The recent up surge in prices has been going on long before the turmoil in the Mid-East - any basic chart over the last 5 years will tell you this. There is a huge asset bubble thanks to all the free money pumped into the financial sector and that free money saw its way to the asset markets. I think this bubble is primed for bursting and the prices of commodities, stocks and such is going to fall. The best thing I see for my money is cash - yup, the good ol' dollar.

This talk of the end of the world is just silly. It makes for fun reading when people ask 'which gun for the zombies or unwashed masses' but when it comes to dealing with your own financial health or that of your family's it gets serious. I mean really, gold coins up your ass and slipping across the border... to what? To where? If society really falls that hard and fast what are you going to buy? From whom?

There is no situation where you can do anything with gold coins or bullion if society falls like that.

In reality, a far more feasible one, the BEST thing to do is minimize or eradicate your debt levels. Pay off your car, house, cards etc because the outright ownership of assets is the best method of protection. If you're convinced that civil society is on a knife edge then move out of urban areas into ones where you have a reasonable plot of land and can grow your food (the heirloom seeds thing is actually a good idea) and have some chicks etc.

For the OP, I would say you are in a very hard position as you are on a fixed income with nowhere to derive decent earnings from any savings. That's thanks to the assholes in the Fed. If my personal belief is correct, the value of the dollar will rise as we will hit a new level of deflation and prices will fall. It's cold comfort and I'm sorry to not be able to offer better news. What are you doing for employment now may I ask?
 
Re: Buying Gold

If precious metals is something your looking into, then you owe it to yourself to check out www.allamericangold.com talk to either Joe or Eric. They will be helpful with any ?'s you might have. My2cents
 
Re: Buying Gold

http://www.coloradogold.com/

Pretty simple to deal with, you can talk to the owner, or his daughter in your case, due to the time zone thing.

His websites has some pretty good articles on some of the myths associated with precious metals. And exact minute by minute pricing you can understand.

I bought PM when the crazies said the world was going to end in 1999, my wife said I was crazy.

Do your research, be careful, and hold the stuff in your hands,( as opposed to the 'paper' gold) like anything else you would buy.

Feel free to send me a PM, cell phones are free as far as I know.

Sean
 
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Gold is really high right now,I would do a lot of research before I would buy it.Very interesting Pics.
 
Re: Buying Gold

You know what makes me very interested in a cynical and skeptical sort of way?

Nobody ever talks about just what kind of commerce will be conducted with this gold in the event of the great calamity for which it is being purchased.

A purchase of a good is something that is done in order to sell it later for a higher price, or in the case of a short sale; to borrow a thing at a high price and replace it later with a lower priced one, keeping the difference.

A buy is done in order to consume or keep it.

Those purchasing gold as an investment to sell, or as a hedge, are at least acting logically. Those buying it as their fall back means of conducting commerce, i.e., in order to be able to buy rice or medicine or poontang, in the post apocalypse rubble, baffle me as I still do not understand what means of exchange will be facilitated when the value of the good or service is less than what one feels their gold coin is worth.

How will change be made for a $900.00 blow job when the smallest coin you have is worth $2000.00?


 
Re: Buying Gold

I would suppose that if you were trying to pay with gold, you would establish with your trading partner just how valuable the quantity of gold is in terms of the goods or services to be bought.
Also, a gold coin is easily divided into smaller pieces. A quarter of a one ounce coin would be easily recognizable as such.
In argentina after the economic collapse people made up printed "currency" to exchange with one another in their city for goods and services.
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: queequeg</div><div class="ubbcode-body">
How will change be made for a $900.00 blow job when the smallest coin you have is worth $2000.00?


</div></div>

40 pieces of silver.
 
Re: Buying Gold

I was waxing hypothetical above, with a little vulgarity thrown in for a laugh.

My point being that most of the people lamenting the fiction of fiat currencies have no clue on the origins of our current system beyond what some advertiser is telling them.

A study of the history of banking does not require a masters program to get the feel for the obvious shortcomings of precious metal based commerce. The old yardstick of the quantity of natural resources determining the wealth of a nation or state has long been shown to be inaccurate. Additionally, the notes that were written by the ancient goldsmiths as scrip in exchange for a percentage of the value of the gold or silver held in reserve by them, was inefficient and fraught with confusion between communities, territories, states, countries, etc.

And bank failures were frequent occurrences long before the gold standard was abandoned.

Thus I point out the futility of believing that something is "Safe". Safer yes. Safe, uh uh.

I won't dispute the historic store of value or the fantastic rate of growth in precious metal values. What I find ephemeral is the reliance on it as yet another sure thing.

In a world where the only barter most people ever conduct is when buying a home or car, often poorly, I find it as absurd as the tech, housing and repeated oil bubbles, that people believe that their gold will preserve them in the wake of a complete breakdown of our current economic understanding: The way we have conducted business for the last 80 years or so.

There is much I don't understand about finance and economics as I only possess a bachelor's degree in those subjects. But I run a business and read on the subject and am still baffled by the familiar smug reliance on yet another sure thing.

One large gold discovery, or the revelation of the holdings of more than previously disclosed reserves by a nation, or corporation, can startle the market into a sudden decline.

While I respect those who had the foresight to jump from stocks to precious metals prior to the big collapse in '08', I will have even more for those who are ready to short it in the event that the stampede diminishes.

As to the idea that those with gold will be better off after the asteroid hits, I am dubious.
 
Re: Buying Gold

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: RollerCam</div><div class="ubbcode-body">Hey, "Dobbsie." Didja' ever wonder why WW2 aircraft pilots always had a few gold coins stashed in their survival kits?

</div></div>

Because Romanian money had no value in Yugoslavia?
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Re: Buying Gold

QQ, niceto see another of your long, well written, if rambling, posts,

<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: queequeg</div><div class="ubbcode-body">

am still baffled

</div></div>

Thats apparent, No need to rub our noses in it
grin.gif



I dont see that anyone hear said that "Gold is a sure thing". Mostly those pro to the investment are saying that gold will at least, over the long run, hold steady when all else may fluctate wildy. The dollar has dominated the currency market for decades. Before that it was the Brittish Pound. Before that....and before that.... all the way back to Greece, and Egypt. Currencies and countries come and go, gold has remainded the standard for millenia. Why should we think that will change now.

Personalyy Id invest in plutonium, or reactor grade uranium, if I could. A bit hot tostore in you mattress or safe deposit box, but hey, one powers the most advanced navy in the world, and the other powers its most powerful and awful weapons. Sounds like money in the bank. Just a few kilos of one or the other and your rich....or dead.
 
Re: Buying Gold

<span style="font-weight: bold">QUOTE:</span> <span style="font-style: italic">"As to the idea that those with gold will be better off after the asteroid hits, I am dubious."</span>

Most people that I know didn't <span style="font-style: italic">"get into gold"</span> in order to make big profits. They did it as <span style="font-weight: bold">wealth preservation</span>. My former financial adviser hates physical gold; but he'll gladly sell me paper gold. He just can't get his "little bite" from the precious metals that I own, so he 'runs down' physical gold, every chance he gets. His luxurious lifestyle revolves around the 'worth' of paper.

I'm expecting to see hyperinflation hit our country. Gold and silver in my safe makes me sleep better at night. If you truly expect a big turnaround in the financial health of the USA, then you'll want nothing to do with physical gold or silver.