Another gold thread
- Thread starter Brent S
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backandbeyond
God Like
I could have quoted all your post Dracos, it was all spot on. So few people understand the potential of this tangible asset, it's gone completely under the radar. The money poured into crypto, which I believe has ended it's super-bull market with the recent double top and is in for a decades long collapse, if that money had gone looking for physical silver there wouldn't be an ounce left would there.
A wise investment dude, Don Coxe, once wrote a book about markets stating that it was a not a get rich quick book, but definitely a book about how not to get poor quick. I like that sort of thinking. I Look forward to reading more of your posts.
Jayson
A True Doomsday Prepper
Arcticdude
Top Poster
I live in an area that historically had produced a lot of gold. There's even old gold mines on and around my property. The problem is they are all lode mines and would take a large investment to re-open one. Many of the streams and rivers in this part of the state have placer gold, some more than others, and some can be worked at a good profit. My son is a surveyor. When he gets some time off he said that he'd help me stake a few mining claims.
The best way to acquire gold is to find it yourself. Placer gold is easy to sell or to refine.
The best way to acquire gold is to find it yourself. Placer gold is easy to sell or to refine.
Something's up...and I don't mean the price...
Arcticdude
Top Poster
Not too far away, by my standards anyway. Anything within 500 miles is close. We're probably breathing the same smoke too.
JackDW
God Like
AD has got me thinking (very dangerous for me!). This area of NC is also known for it's gold mines. Now that I am retired, maybe I should start panning the creeks and streams to see of I can find something. Even if I don't find any gold, the exercise will do me good. Who knows, I might find a little of the yellow dust.
Arcticdude
Top Poster
I think North Carolina was the first gold producing state in the US, up until 1848 when gold was discovered in California. Back in 1799 a 17 pound nugget was found in NC. Good luck.
Trihonda
Active Member
I like prec metals (gold and silver) as a hedge like stated in the OP. But I also think as preppers they act as a hedge against more than just inflation. If the SHTF I think these will be the only currency that survives imho. Maybe BTC? And of course barter items, but as a prep that guards against inflation and maintains wealth in both shtf and non-SHTF scenarios, i think it fits well into my investment strategy.
as for what to buy and how, I really like developing a relationship with a local coin shop. I routinely get better pricing than the cheapest online vendors. I rarely pay “sales tax” (tho the dealer says he builds it into my pricing)or shipping. I pay cash, so there’s no records. And the sales tax paid online is a factor. For 5-6% taken off the top, really bites into the investment.
here are some examples of my pricing. Snagged a gold AE 1oz with spot around 1800, paid $1950 for the coin. paid 1910 for a krugerrand 1oz. Silver. Prices and premiums for physical are high, but that only goes to show how in demand and manipulated the prices are. Ive paid between $3-4.50 over spot for coins. The generic rounds are lower premiums, but I’ve snagged maples and such for $4 over spot.
imho if you dont plan to own physical metals, stick to BTC.. as paper stuff is just that.
as for what to buy and how, I really like developing a relationship with a local coin shop. I routinely get better pricing than the cheapest online vendors. I rarely pay “sales tax” (tho the dealer says he builds it into my pricing)or shipping. I pay cash, so there’s no records. And the sales tax paid online is a factor. For 5-6% taken off the top, really bites into the investment.
here are some examples of my pricing. Snagged a gold AE 1oz with spot around 1800, paid $1950 for the coin. paid 1910 for a krugerrand 1oz. Silver. Prices and premiums for physical are high, but that only goes to show how in demand and manipulated the prices are. Ive paid between $3-4.50 over spot for coins. The generic rounds are lower premiums, but I’ve snagged maples and such for $4 over spot.
imho if you dont plan to own physical metals, stick to BTC.. as paper stuff is just that.
Arcticdude
Top Poster
Gold dropped $25 an ounce today. Its down $130 for the year. It'll come back up.
For some good information on gold and the economy, look up: Melman on Gold and Silver. He writes a monthly column for the International California Mining Journal.
For some good information on gold and the economy, look up: Melman on Gold and Silver. He writes a monthly column for the International California Mining Journal.
Gold and silver. The spot price will go up and down. But if you are in it for the long run they will increase in value as our paper will decrease. They have intrinsic value. That means they can be used for something other than money. There is something about holding a 100 ounce bar in your hand though.
Spain has created a bullion currency for the first time.
This is important because it is the only country in the European Union, together with Austria, that has a bullion. This has been surprising in Europe, but it shows that there is a demand among the population to invest in gold.
Its design is based on the Real de a Ocho, which was a model for the US Dollar.
The Reverse Proof 1-ounce .999 fine gold coin is denominated €1.5, an unusually low denomination for a gold bullion coin of the world.
The reverse depicts the head of an Iberian lynx. In addition, the face value (€1.5) appears, with the year date of issue (2021) and the crowned symbol of the Spanish Mint.
The coin’s obverse features imagery borrowed from the famous Spanish silver “piece of eight” coin, which circulated around the globe for more than two centuries.
The 2021 coin appropriates the Pillars of Hercules design that represents the two hemispheres meeting, with two globes crowned over the seas, and the legend PLVS VLTRA appearing on ribbons mounted on opposite pillars.
Legends identify Spain’s current monarch, Felipe VI, and the coin’s weight and fineness.
The coin weighs 31.21 grams and measures 37 millimeters in diameter. The inaugural issue has a mintage limit of 12,000 coins, each delivered encapsulated.
The coin, with continuing Lynx motif, is to be sold through distributors worldwide, according to the Spanish Mint.
This is important because it is the only country in the European Union, together with Austria, that has a bullion. This has been surprising in Europe, but it shows that there is a demand among the population to invest in gold.
Its design is based on the Real de a Ocho, which was a model for the US Dollar.
The Reverse Proof 1-ounce .999 fine gold coin is denominated €1.5, an unusually low denomination for a gold bullion coin of the world.
The reverse depicts the head of an Iberian lynx. In addition, the face value (€1.5) appears, with the year date of issue (2021) and the crowned symbol of the Spanish Mint.
The coin’s obverse features imagery borrowed from the famous Spanish silver “piece of eight” coin, which circulated around the globe for more than two centuries.
The 2021 coin appropriates the Pillars of Hercules design that represents the two hemispheres meeting, with two globes crowned over the seas, and the legend PLVS VLTRA appearing on ribbons mounted on opposite pillars.
Legends identify Spain’s current monarch, Felipe VI, and the coin’s weight and fineness.
The coin weighs 31.21 grams and measures 37 millimeters in diameter. The inaugural issue has a mintage limit of 12,000 coins, each delivered encapsulated.
The coin, with continuing Lynx motif, is to be sold through distributors worldwide, according to the Spanish Mint.
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