SunSamurai

Diamond Member
Jan 16, 2005
3,914
0
0
They store them in vaults in a bank or in personal fireproof ones in the home. They are several 100 lbs and very hard to steal and near impossible to open without serious means.
 

Ronstang

Lifer
Jul 8, 2000
12,493
18
81
Buy gold now, lose money. Sell gold now, make money. Got it?

I know, this is getting silly but they keep on biting. People need to understand the scam that is gold. The same thing happened back in early 1980. Gold was said to be the only way to hedge against inflation...blah blah blah. It went up to 800 $/oz and then it magically crashed down to below where it had been for the previous years. The people pushing for gold as the best investment out there are those that have been holding it a long time and have a huge inventory. They are cashing in, you are getting screwed. The price will eventually crash when all the long term institutional investors have sold off the holdings they desire, and all those that bought recently will cry they were scammed.....not really, just misinformed or greedy perhaps.

Those same investors that just got done making all this money will then sweep in and buy up all the gold they want at half the price or worse. Rinse, repeat. They keep getting rich and the poor fool who doesn't understand how it all works just keeps screwing himself yet blaming others.
 

lxskllr

No Lifer
Nov 30, 2004
58,514
8,785
126
I know, this is getting silly but they keep on biting. People need to understand the scam that is gold. The same thing happened back in early 1980. Gold was said to be the only way to hedge against inflation...blah blah blah. It went up to 800 $/oz and then it magically crashed down to below where it had been for the previous years. The people pushing for gold as the best investment out there are those that have been holding it a long time and have a huge inventory. They are cashing in, you are getting screwed. The price will eventually crash when all the long term institutional investors have sold off the holdings they desire, and all those that bought recently will cry they were scammed.....not really, just misinformed or greedy perhaps.

Those same investors that just got done making all this money will then sweep in and buy up all the gold they want at half the price or worse. Rinse, repeat. They keep getting rich and the poor fool who doesn't understand how it all works just keeps screwing himself yet blaming others.

It's like anything else, there's a right and wrong time to buy. Now's the wrong time for gold. It can be a great investment though, and if you don't do something silly like buy now, your not likely to lose much money, and you have the potential to gain a good bit of money.

I've been meaning to get my coins out. It's sell time for me :^)
 

JS80

Lifer
Oct 24, 2005
26,271
7
81
why in G-d's name would you want to hold a small expensive easily stolen/lost piece of yellow metal at home?
 

DaveSimmons

Elite Member
Aug 12, 2001
40,730
670
126
Look at the 30 year history for gold prices before deciding to invest in it.

Gold is a bubble right now just like real estate was in 2007. Wait for it to pop then buy some comfort gold if you want.
 

Exterous

Super Moderator
Jun 20, 2006
20,526
3,669
126
Please take the advice in this thread and don't buy gold. Right now it's like someone trying to sell you a TV saying 'Better buy now - it's only 3.5x the price it was earlier!"
 

hiromizu

Diamond Member
Jul 6, 2007
3,405
1
0
Uhh..it only makes sense to buy something that's going up, not down. Gold is going up so it's a good investment.
 

StageLeft

No Lifer
Sep 29, 2000
70,150
5
0
My investment "calls" have a spotty track record but I wouldn't buy gold coins now and I am not. I think the US dollar's weakness has been way overplayed. It is going to come up. Gold is going to go down or maybe up but if you think it's going to be $2k in a year or whatever I rather doubt that. My view on investing now is look at what everyone else is doing and try to make money doing the opposite. You can't swim against a tidal wave, but gold has been wanked up too high and quickly and the US dollar beaten too hard and fast.
 

rockyct

Diamond Member
Jun 23, 2001
6,656
32
91
I think it's funny when one of those TV commercials talk about how gold is the investment you can hold in your hand. Well, wtf are you going to do with it once it's in your hand?

If I wanted something to "hold", I'd buy copper. Good bludgeoning weapon and it hasn't peaked yet after plummeting a year ago.