I am buying 23 k worth of physical gold coins

Quote from newguy05:

if i read this correctly, are some of you seriously saying buy some physical gold and put it in a box? :eek:
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I started buying some two to three years ago, along with silver, and have done very well!

Buy government made gold and silver coins, you are assurred of quality, and quantity. If you are buying an ounce, you are getting an ounce. Buying from anyone else and you take on quite a bit of risk and history has shown there are many ways to skim off the top.
 
Quote from mschey:

I started buying some two to three years ago, along with silver, and have done very well!

Buy government made gold and silver coins, you are assurred of quality, and quantity. If you are buying an ounce, you are getting an ounce. Buying from anyone else and you take on quite a bit of risk and history has shown there are many ways to skim off the top.
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wow i am surprised to hear people in this day and age actually do that, on elite traders no less :eek:

What do you do with the gold coins? and how do you sell it back, goto a pawn shop? not making fun, just curious.
 
quote from mschey:
Buy government made gold and silver coins, you are assured of quality, and quantity. If you are buying an ounce, you are getting an ounce. Buying from anyone else and you take on quite a bit of risk and history has shown there are many ways to skim off the top.
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I have to agree here. If your idea is to prepare for very hard times then junk silver coins are your best bet imo. They are a small enough increment that it could actually be used as a medium of exchange. Trying to buy groceries with gold coins wouldn't be very feasible. Silver in any form seems to me to have more potential than gold.
 
You can buy a Perth Mint Certificate, but they charge 2% of whatever you buy. It's held in a vault in Perth, Australia.
 
Quote from 11Blade:

I think if there was real financial armageddon, even the gold would be worthless only food, fuel, goods and medicine would have value :)

the only need for gold would be medicinal, industrial and chemical. (and of course in goldshlager?sp)

:)
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i guess it would depend on the degree of armegeddon, but if ETFs became worthless you would have to guess it pretty severe. if you are protecting against breakdown of this scale, might it not make sense to diversify? a tiny percentage of the gold coin funds could buy an awful lot of tins of tuna!
 
Quote from newguy05:

if i read this correctly, are some of you seriously saying buy some physical gold and put it in a box? :eek:
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hehe you better believe it, what I don't understand is why do some of you guys go to extreme end of thinking

I AM NOT A survivalist

23 k is nothing for me, very very small part of my funds are going into gold

what life taught me is cynicism, I don't believe in paper ownership, I am also a day trader
 
Tim Morge, a trader I very much respect, told a group of us recently if it comes to a complete meltdown you will do better with a gun and bullets than some coins, whether they be gold or silver.

I think we are likely to have a global recession, but not a full blown meltdown. Possibly some US stagflation too.
 
Quote from dandxg:

Tim Morge, a trader I very much respect, told a group of us recently if it comes to a complete meltdown you will do better with a gun and bullets than some coins, whether they be gold or silver.

I think we are likely to have a global recession, but not a full blown meltdown. Possibly some US stagflation too.
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he is dead on, but I was raised in a family where we always had guns and bullets, so that side is covered just by good old American culture :D :D
 
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