Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
The people trying to sell you gold and silver make a living doing that. So they don't necessarily have a large stock on hand. They buy it and sell it at a higher rate, making money on the sale. They have no idea (nor does anyone else) whether it is going up or down.
They "buy" the gold for X price. As the price of gold goes up, they sell what they bought for a profit, from the higher price.
Then they buy more gold at the current (higher) price, they wait a bit and sell it at an even higher price after it goes up some more.
Key is to sell the "older stock" first.
sourdough58 wrote:
Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
Exactly! If it's skyrocketing why are they selling it instead of just sitting on it? I learned my lesson. Bought $1600 in silver two decades ago and it still isn't worth what I paid? Fool me once shame on you ..... won't fool me twice.
hj wrote:
Exactly! If it's skyrocketing why are they selling it instead of just sitting on it? I learned my lesson. Bought $1600 in silver two decades ago and it still isn't worth what I paid? Fool me once shame on you ..... won't fool me twice.
If it wasn't profitable for them, they wouldn't be doing it......
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.
Amateurs like us buy and hold with the hope of appreciation. Dealers make money on every sale because they work the spread. If gold is $2,000 an oz they buy it from you for $1,800 or less and if you want to buy an oz you pay $2,000 or more. That is how they can be buying and selling every day and make money. As far as their advertised reasons for you to buy gold take it for what it is, advertising to get you to help them make money.
sourdough58 wrote:
Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
Gold is not tied to the dollar...that's why.
If you cannot place assets into gold or platinum (don't recommend silver)...long term...meaning you will need to tap in those assets in the near future...don't bother.
It's for hunkering your assets down into something relatively safe...until better times roll around.
If you dump XXXXk+ into it...forget about it being there.
It's meant for the longer haul...and right now...it's a bit on the late side.
sourdough58 wrote:
Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
If you are ever the executor of a loved-one's estate, hope that the deceased didn't have investments in Gold and/or Silver. Many years ago, my wife was executor of her father's estate and he had accounts with Gold/Silver. What a pain in the arse to get all those assets settled. Took forever! Settling an estate with only bank accounts and stock/bond investments is much easier.
Bridges
Loc: Memphis, Charleston SC, now Nazareth PA
sourdough58 wrote:
Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
I don't know how to buy and sell gold and silver other than to know all the places that advertise "We give the highest payout for your gold" will be buying lower so they can sell at a profit. Just like any other retailer of used goods -- i.e. camera equipment. My wife wants to collect some cash because she thinks the banks are going to crash. 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? This will not happen overnight, it will be a process, and at some point, the government will give you a grace period of say three to six months to turn in your paper money for electronic credits. Wake up people, this has been in the conversation for over two thousand years! Read the Bible, whether you believe in it or not, still read it. Read it as history -- it was forecasted that someday we would be required to be marked in order to buy or sell. Back then there was no way for them to understand how this would be accomplished but with today's technology, we know we could be marked with a barcode or implanted with a chip. Gold and silver will be the only mainstay of getting around the system. These precious metals have been and will always be a valuable resource for trade. If any of you believe the system we now know is on life support and want to stash some cash, look to gold and silver rather than paper money.
I made a great investment in a handgun and it continues to increase its value to me. Just the other day I showed it to a fellow in the parking lot of the grocery store and I was able to get a cart full of groceries worth a couple of hundred dollars.😜
sourdough58 wrote:
Ads from people who have more Gold and silver than they need saying "buy my gold because your dollars will be worthless soon", so they will sell me gold that is going up in value for dollars that are going down in value ???? what do they know? are they just bad at business? that they will trade valuable gold and silver for nearly worthless dollars. what am I missing? Every time I see the ads they make me feel like I should keep my dollars.
The fine print says 99.9% gold PLATED.
Effate
Loc: El Dorado Hills, Ca.
I buy silver not necessarily as an investment but to pass some history on to my children and grandchildren. I love liberty dollars, walking liberty halves, standing liberty quarters, mercury dimes and all of the 19th century silver. They don’t make coins like that anymore.
In the early 60's a silver quarter would buy a gallon of gasoline. Today, the melt value of the silver in that 60's quarter would still buy you a gallon of gasoline. Silver (and other precious metals) have not appreciated in value, the value of our currency has decreased.
Effate
Loc: El Dorado Hills, Ca.
SteveFranz wrote:
In the early 60's a silver quarter would buy a gallon of gasoline. Today, the melt value of the silver in that 60's quarter would still buy you a gallon of gasoline. Silver (and other precious metals) have not appreciated in value, the value of our currency has decreased.
During that timeframe I remember 17.9 (gas wars) plus triple S&H Green Stamps!
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