Investing in Gold & Silver

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secret squirrel

secret squirrel

New member
Are you investing in gold and/or silver? I do watch the news and know that the dollar effects the gold market so do alot of you purchase gold coins? I did start buying silver, but I have slacked up on that and I am not sure if I need to continue.

Also, if I am posting in the wrong place please tell me where to go (And be nice) to post my newbie questions.

Thank you,
Secret Squirrel
 
Physical silver yes, gold no. Too rich for my blood (shoulda started 10 years ago!). I am doing PSLV and PHYS however.
 
Marc Faber interview this am: Hold off buying gold now until correction; hold physical gold but not in the hands of US custodians or US bank safe deposit boxes. Use Canadian, Singapore, Australian, Swiss banks. This was questioned by the interviewer as in "don't you trust US banks?" and he answered I don't trust anyone.

I guess it's possible that the USG could seize physical gold held by its citizens and exchange it for USG promises. Something to think about.

Peter Schiff was pushing an overseas custodian last May.
 
I have a couple of gumball machines on location and the past 2 times I have serviced the machine at this one location I have found a single silver quarter each time. I only service the machines every 6 weeks and so far have only found 2 silver quarters but it's a start. :D The first one was a 1944 and the second was a 1935.

These finds have piqued my interest in "junk" silver. Anybody know anything about junk silver?
 
Warrenlm said:
Marc Faber interview this am: Hold off buying gold now until correction; hold physical gold but not in the hands of US custodians or US bank safe deposit boxes. Use Canadian, Singapore, Australian, Swiss banks. This was questioned by the interviewer as in "don't you trust US banks?" and he answered I don't trust anyone.

I guess it's possible that the USG could seize physical gold held by its citizens and exchange it for USG promises. Something to think about.

Peter Schiff was pushing an overseas custodian last May.
Click to expand...

Faber is an extreme perma bear. I was surprised that he said to hold 25-30% equities. Also, why hold physical gold if it's going to correct. Sell it at an all time high if it's going to correct, right?
 
All this talk of gold and silver being in a bubble has me wondering if "all yall" think the dollar has bottomed.
 
Happy Trails said:
Faber is an extreme perma bear. I was surprised that he said to hold 25-30% equities. Also, why hold physical gold if it's going to correct. Sell it at an all time high if it's going to correct, right?
Click to expand...
I don't think he thinks the current price is an all time high, in the context of the question he was asked, "should people buy gold now?" The thing I took away was the relative higher risk in ETFs (he called them only "claims" on gold) and physical gold held in the USA. A lower risk to hold the physical gold in specific countries. I seem to recall the USG doing something about gold held by citizens before. And in the context of the future need of the USG to have its citizens more "invested" in its debt.......maybe just invested and maybe in exchange for annuities.....
 
Warrenlm said:
I don't think he thinks the current price is an all time high, in the context of the question he was asked, "should people buy gold now?" The thing I took away was the relative higher risk in ETFs (he called them only "claims" on gold) and physical gold held in the USA. A lower risk to hold the physical gold in specific countries. I seem to recall the USG doing something about gold held by citizens before. And in the context of the future need of the USG to have its citizens more "invested" in its debt.......maybe just invested and maybe in exchange for annuities.....
Click to expand...
That is really my question. How could you do what Faber says with IRA funds?
 
Gold - this time it's different. It will go up and up and up. Buy, buy, buy! Just kidding folks. Gold reminds me of real estate a few years ago. When it pops, it's going to be ugly. It could keep going up though - it is hard to figure out what it is time to hit the exits. Bubbles don't always burst when we expect them to.
 
When I bought my 15 one ounce gold coins in 1980 it was right at the top of around $800 - the price then bottomed around $360. I've held my coins all these years because they are simply beautiful and will someday be gifts to grandchildren. I've been coaching my daughter to wear her gold Woodstock bird but so far she doesn't realize the value and lacks courage. I think she would get positive comments.
 
Everything depends on your investing horizon. If you are concerned for the wealth of your prospective grandchildren, that's one view. If you're concerned about the costs of membership fees for boutique doctors and disallowed tests, that's another view. :)
 
I remember buying three gold rope chains in the mid 1990s that were part of an estate jewelry sale - two for my wife and one for my daughter. They didn't look that good initially but once cleaned they were perfect - heavy gold chains. My wife never takes her's off unless I'm cleaning them. I have all the gold I need.
 
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