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Gold?and Silver? $$$
May 1, 2023 18:02:40 #
My son works for an Australian Bullion company and they are extremely busy at the moment. He recently said that a lot of people now realize how much the cost of living is devaluing their wealth.
May 1, 2023 18:08:18 #
Selling your gold is like selling coins. You really don't get the full value. How do you think they make their money? It's on the trade.
May 1, 2023 18:15:55 #
Dennis833 wrote:
My son works for an Australian Bullion company and they are extremely busy at the moment. He recently said that a lot of people now realize how much the cost of living is devaluing their wealth.
There are many ways to invest in gold (or silver). Buying numismatic coins (ie. historical coins) has the highest cost (ie. the difference between the gold value of a coin and appraised value). One can even buy gold mining stocks that pay a dividend. Holding real bullion has the cost of storing it and keeping it safe (ie. insurance, etc). Buying a stock index or some real estate can also protect one from the increase in cost of living (ie. inflation). And then there is cryptocurrency (which I will leave to those more adventuresome than me).
May 2, 2023 00:23:23 #
RiJoRi
Loc: Sandy Ridge, NC
Gold, silver, and other PMs are for long-term investment. 'bout 30 years ago, I bought 3 oz of gold @ $600/oz. I used one oz last year to help pay for a car. The gold was at $1600/oz.
(And took up less room than 16 $100 bills.)
YMWV, <— WILL Vary.
--Rich
(And took up less room than 16 $100 bills.)
YMWV, <— WILL Vary.
--Rich
May 2, 2023 00:57:54 #
RiJoRi
Loc: Sandy Ridge, NC
Bridges wrote:
... My wife wants to collect some cash because she thinks the banks are going to crash.
Remind her to keep some in smaller bills, as well as coins. As I recall, not many places in downtown Manhatten were giving change on 9/11. "Bottle o' water? Sure! But I ain't got no change for that $10 bill. Still want it? OK!" Cash was also helpful afterwards. A lot of banking systems were shut down. Couldn't use the ATMs even though our bank was located on Long Island, just as we were.
Bridges wrote:
I feel differently -- my take is that the economy of the entire world including the US will in the near future be going to a digital currency. When that happens, paper money will be worthless so why stockpile it?
Just for the in-between times. The SVB problems did not affect my bank, but some of those who kept their money in SVB prolly would'a appreciated some cash in hand.
--Rich
May 2, 2023 20:09:23 #
hj
Loc: Florida
n4jee wrote:
When the price of silver was pushed up near $50, the exchange raised the margin and a lot of speculators had to dump their silver. A lot of us got hurt when the value of our silver plummeted.
Me included. Still holding what I paid $1600 for and it's never been back to it's high. The TV commercials border on being criminal.
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