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Old 12-14-2020, 03:44 PM   #1
stuball
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gold

I need input on buying gold -- help anyone -- is it best to buy physical gold
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Old 12-14-2020, 05:14 PM   #2
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I need input on buying gold -- help anyone -- is it best to buy physical gold
it depends what you want. if you are looking for insurance, physical gold is the way to go. if you are looking for price appreciation, you can buy gold mining stocks..

if you chose physical, i highly advise you to stick with only United States minted gold coins.
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Old 12-15-2020, 07:09 AM   #3
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I would ask

1-how long you plan/hope on holding it?
2-when you decide you need to sell some, how soon will you need the money?
3-how much do you think you will get and how do you plan on storing it?
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Old 12-15-2020, 09:28 PM   #4
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I would ask

1-how long you plan/hope on holding it?
2-when you decide you need to sell some, how soon will you need the money?
3-how much do you think you will get and how do you plan on storing it?
all very legit questions....however....no matter what road one chooses....with the SO-CALLED 2nd stimulus...devalue the dollar coming....gold WILL GO up....period...
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Old 12-16-2020, 10:32 AM   #5
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all very legit questions....however....no matter what road one chooses....with the SO-CALLED 2nd stimulus...devalue the dollar coming....gold WILL GO up....period...
I will not argue with that, but the question was physical or virtual. There are quite a few ETFs that can be invested in without having to handle the gold. Some people like having in hand and I will not argue with that either.

top gold ETF list -> https://etfdb.com/etfs/commodity/gold/
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Old 12-16-2020, 10:49 AM   #6
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there ain't nothing like the real thing baby!

gold has about a 5000 year history behind it.. it has survived plenty of wars, plagues, disasters, broken empires and the test of time..

other than storing gold yourself, you can store it in vaults in places like Switzerland. they will charge you between 1/4% and 1% to store it in a private vault depending upon the amount of the stuff you store.. these places are fully guarded 24 hours a day. if anyone attempts to steal it and they get caught, the punishment is death.. Switzerland only uses the death penalty for people that try to steal from banks and vaults. you can be the worst mass murderer in Switzerland and the most you can get is life in the can. if you steal or swindle a financial institution, they put you down.
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Old 12-16-2020, 11:57 AM   #7
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i just checked today on US silver Eagles. the dealers want about $5 over spot for 2021 eagles to be delivered in February. 6 months ago the premiums were over $10 per coin. that was mainly because the refiners were all closed due to the virus.
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Old 12-16-2020, 12:40 PM   #8
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there ain't nothing like the real thing baby!

gold has about a 5000 year history behind it.. it has survived plenty of wars, plagues, disasters, broken empires and the test of time..

other than storing gold yourself, you can store it in vaults in places like Switzerland. they will charge you between 1/4% and 1% to store it in a private vault depending upon the amount of the stuff you store.. these places are fully guarded 24 hours a day. if anyone attempts to steal it and they get caught, the punishment is death.. Switzerland only uses the death penalty for people that try to steal from banks and vaults. you can be the worst mass murderer in Switzerland and the most you can get is life in the can. if you steal or swindle a financial institution, they put you down.
https://en.wikipedia.org/wiki/Executive_Order_6102
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Old 12-21-2020, 12:09 AM   #9
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it depends what you want. if you are looking for insurance, physical gold is the way to go. if you are looking for price appreciation, you can buy gold mining stocks..

if you chose physical, i highly advise you to stick with only United States minted gold coins.
Why? I've held Krugerands and Maple Leafs over the years and never, ever had a problem converting them to currency. The reputation of those coins is impeccable.

I've held Eagles also and not sure why you'd feel any more comfortable with them. As long as it's .999 it seems like it would be all good to me.

I'd definitely go physical also. If I were to invest in gold any other way it would be in the mining stocks.
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Old 12-21-2020, 12:20 AM   #10
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lambo, have you ever looked at the ticker CMCL? I've been in and out of it a couple times over the past 36 months. Kind of stingy on the dividend, but Blackrock is all over it. They dig in Zimbabwe. Mineral rich. Politically, always a caveat.
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Old 12-21-2020, 01:54 AM   #11
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lambo, have you ever looked at the ticker CMCL? I've been in and out of it a couple times over the past 36 months. Kind of stingy on the dividend, but Blackrock is all over it. They dig in Zimbabwe. Mineral rich. Politically, always a caveat.
i have owned this in the past.. the only thing i would worry about on this one now, is the swap lines...i always worry about a country that might decide to nationalize the mining business inside their borders.

as strong a company as Barrick Gold is, i would stay away from it for that reason.. another way you could own gold is by owning the Central Fund of Canada. CEF. the fund at times sells above net asset value... i would wait until it sells below.

if you are good at it, you can buy Kugerrands slightly below spot. the coin contains more copper and other alloys than an American coin has.. i have never seen any United States bullion coin sell without a premium to them. a Canadian Maple leaf is a great mintage that actually contains more gold content than American. the Canadian is 24 karat, while American is below that. even against the Maple Leaf, i would still highly advise you to own American.. what i have learned from back in the late 1970's, when you are in a very fast market, and you are a seller, you want to be in the product that is closest to 100% precious metal.. for example, you want to own a united states silver eagle over a 1965 Kennedy half dollar 40% silver coin, or anything that is silver sterling. it is a lot easier for the dealer to find a home for something that is 100% metal, than something that has a higher percentage of alloys in them.

there is a company now that will pay you interest on your precious metals. they store it in a vault in Delaware and then they lease it out to mainly manufactures of jewelry. they pay about 2% per year in interest in the metal that you store with them. they don't charge you a storage fee either. but Switzerland vaults still offer you the highest degree of insurance that you can possibly have, but they do charge you for that.

while i understand the precious metals market fairly well, i really have little knowledge of the crypto currency world. the only things i know about them is that there is supposed to be a limited amount of the product and that is the reason why it can trade for much more than it sells for now. there is no way any government or financial institution can put a lean, attach or confiscate it.
there is also no financial institution that i know of that will take it as collateral for a loan either. the bid and ask spreads are very high on these things right now. Crypto's are not backed by any government or a precious metal's history. it is simply something stored in the cyber world..
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Old 12-21-2020, 02:06 AM   #12
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the senate is very close to another bail out package for close to a trillion dollars. this will go on to the amount of currency that we as a country owe. the debt is closing in on $30 trillion. i don't see anyway that this money can ever get paid back..at some point of time, we will not be able to service the debt. this is one of the main reasons why you need to have insurance if you are a saver... there is nothing wrong with owing money now either.. you will be paying back your debt with future currency that will be worth a lot less than it is today..

its now a month after the election and the dollar is now under 90. i had predicted if the dollar is under the 90, that Trump would not get elected. it got held up slightly over the 90 until 1 month after the election and Trump still didn't get re-elected. the dollar is probably going to keep falling now and precious metals will be worth more. other currencies are no bargain either, but this one will probably be the worst of the major's.
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