Buying gold

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Because ETFs are just trading one piece of paper for another. I want the physical stuff. Guess I'll just have to keep it in a lock box under a loose board in the floor...

I'm worried about significant debasement of the US dollar. It's a longshot but that's what I want to be protected against. If the dollar is worth 50% of what it is now, while gold has maintained its buying power, then a dealer fee is going to be nothing, right?
 


if you are really paranoid about your loot, you could bury it in your yard. Also make a habit of burying about 10-15 other hunks of metal in random places in your yard as well to keep someone with a metal detector from easily finding it. Dig down four feet, stash your gold/silver (in well sealed pvc pipe), apply 1 foot of dirt, drop in hunk of scrap junk metal, refill hole to top. that way even if they do happen to locate the spot they'll likely dig down and find the scrap metal and leave your gold down below.

also +1 to having the physical stuff on hand.
 
But if things get crazy, there might not be a market to trade the share on anymore. And you might not be able to get the paper certificates for that gold if people are banging on the broker's doors trying to get their stuff with banks disappearing. Or you might not be able to get someone to give you the gold for the paper. Who knows.

I think this is in my genes. I had a crazy grandfather who kept suitcases of gold and silver coins in his closets and under his bed, and wouldn't leave the house or spend any money for months at a time.
 
seriously check out getting a large gun safe...

bolt it to the floor and fill it with numerous cases of ammo (or bricks/cement blocks if you don't like guns) and it'll be too heavy and difficult to move... the larger high quality gun safes can't be pulled open with a crowbar, you'd need a torch or a mosler safe cutter to get in one, so they're about as secure as you can get with something at your house... unless you build a private vault...
 
micker said:
with proper account planning you can get fdic to 250k and I have heard of money markets with their own insurance up to 350k. you should be fine.
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I really think people should check out CDARS

Certificate of Deposit Account Registry Service

They can FDIC insure up to $50 million, which should just barely cover Dan.

Dan Grossman said:
I think this is in my genes. I had a crazy grandfather who kept suitcases of gold and silver coins in his closets and under his bed, and wouldn't leave the house or spend any money for months at a time.
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Same here. He lived through the Depression. He lived like it was always a Depression.

_poto_ said:
bolt it to the floor and fill it with numerous cases of ammo (or bricks/cement blocks if you don't like guns) and it'll be too heavy and difficult to move... the larger high quality gun safes can't be pulled open with a crowbar, you'd need a torch or a mosler safe cutter to get in one, so they're about as secure as you can get with something at your house... unless you build a private vault...
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Hate to say it, but at that point, the safe owner becomes the weakest link for a criminal to exploit.
 
great thread, I learned a lot reading it.
Isn't it every business mans dream to have a big vault filled with gold coins to swim around in like scrooge mcduck :)
 
I think you guys need to watch "It's a wonderful life" for idea on the domino effect when people over react, get a grip (as someone else said btw, GLD is backed by actual gold).

This sounds as whacked as the loonies that fucking stockpiled food and created their own compounds because of the date change from 1999 to 2000.
 
Karnul said:
Seeing a thread like this tells me it's time to short sell gold.
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LOL, true.

But seriously, what happened to good old European banks. Look at Switzerland or Liechtenstein. Anticipating the $ will fall even more, trade in Euros and put it in a bank account with some interest on it. You could also buy in on one or two solid stock portfolios.

As for market branches, I would stay away from conventional energy portfolios that include oil companies. The future is alternative energy sources. Those will undoubtably go up in time, as oil becomes less and less in the world.

Just my two cents.
 
What about silver? Better buy than gold? Does it hold value well? Heard there are some issues finding silver coins at some suppliers right now...
 
This thread is going to make me rich.. I already snagged 23 really great domains from the kw's and shit here.

I think this one is the best of them all tbh - PLATINUMINGOT.COM

Booyah! Cost: $6.85
 
I'm having really nasty RPG flashbacks thanks to this thread.

But I've also gotten a few domains myself heheh

Seriously, guys, don't just think gold and silver. When there are signs of a rush on the market like this, buying into platinum at the beginning is great because it's values start to go up when people start deciding that gold's price has gone up far too high and it's time to diversify.

Back in the early 90s, during the last market hiccup, we had a semester long assignment on the metals market in one of my highschool classes. I can't believe it's actually becoming useful knowledge.

What I learnt was that when gold starts to plateau, platinum and palladium start going up too... But not in lock-step. They're a little bit behind because a lot of n00b investors are relatively unaware of them.
When gold and silver slightly deflate, people start to swap for other metals that haven't risen as much yet. Then other metals deflate, and gold re-inflates, etc. Not in a big way, mind you, but well enough.
The cycles keep going until there's a bit of economic certainty again. Or it did in the early 90s at least.

If you can keep an eye on it, you can jump between metals just as easily as jumping between stocks and arbitrage the hell out of it.
 
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