Do you buy gold? - Page 2 - GoFuckYourself.com

u-Bob · 03-14-2011, 03:11 AM

Quote:

Originally Posted by Seth Manson

but i dont know anyone buying it at these prices.

I am

Kiopa_Matt · 03-14-2011, 03:18 AM

Quote:

Originally Posted by u-Bob

The idea is that you hang on to the majority of your gold until after the re-monetary-zation.

Problem being, once the whole monetary system begins picking up again, loads of gold would have already been sold, hence a good amount of your investment lost. Plus the scare tactics being used right now to sell gold probably won't exist, so you're probably in for a long wait if you want to break even. People won't be clamoring around to buy gold again.

strobi · 03-14-2011, 04:02 AM

Quote:

Originally Posted by Davy

Not the best time to buy gold.
And besides - if the economy and currency crashes, what are you going to do with a fat gold bar? You will probably be forced to trade the whole bar for whatever you are in need of at that moment.
Buying silver coins and gold coins seems more reasonable.

Now is probably the best time in history since the '80s to buy gold.

u-Bob · 03-14-2011, 04:20 AM

Quote:

Originally Posted by Kiopa_Matt

Problem being, once the whole monetary system begins picking up again, loads of gold would have already been sold, hence a good amount of your investment lost. Plus the scare tactics being used right now to sell gold probably won't exist, so you're probably in for a long wait if you want to break even. People won't be clamoring around to buy gold again.

You are looking at this the wrong way. You are looking at Gold as something to invest in using the current common currency. The problem is that while gold is a commodity like any other, something that is subject to the law of supply and demand, and cannot be created out of thin air, the current common currency is not. The fact that governments/The Fed/The ECB/... create money out of thin air creates a situation whereby the supply of the current common currency is constantly being inflated and it thus loses it's value, it's purchasing power.

The increase in the price of gold (and other precious metals) we have been seeing over the last couple of years is only for a minor part the result of the hype ('scare tactics',... essentially the law of supply and demand). The real cause for the 'increase' in price is the decrease in purchasing power of the current common currency (be it USD or EUR...).

So in essence, the price of gold has only gone up slightly because of the hype, it's actually the value/purchasing power of the USD, the EUR etc, the currencies in which we are expressing the price of the products thats has been going down.

So gold != investment. Gold == protection against inflation.

Kiopa_Matt · 03-14-2011, 06:14 AM

Quote:

Originally Posted by u-Bob

So gold != investment. Gold == protection against inflation.

I understand everything you're saying, but it doesn't really matter, because more than likely your purchasing power is still going to be the same, if not less. For example, say another economic crash happens, but this time around, there's no bailouts of government assistance. Instead, the world economy goes into free fall.

Sure, with your gold, that $2 loaf of bread that now costs $16 still costs the same, because you still have the same purchasing power. However, what happens when people start running out of money, and begin selling off their $30k gold deposits in mass? The market will be flooded with gold, and your purchasing power will become substantially less, regardless of currency used.

And if another economic collapse happens, you can expect the largest shareholders of gold to dump their investments immediately, and cash in while they can, leaving the poor guy with $30k invested with his thumb up his ass, wondering where his money went. The guys with the most invested aren't going to sit around, and wait for a mass sell off.

Fletch XXX · 03-14-2011, 06:17 AM

i got gold ink in my skin lol

u-Bob · 03-14-2011, 06:58 AM

Matt,

Let's say you're on a small island (with no gold mines) and you own some gold. The other people on the island want to buy some of your gold. The only thing you want in exchange for your gold are coconuts (because you like coconuts A LOT). The other people on the island start bidding against each other. The richest guy (in terms of coconuts) can offer you 10 coconuts. You accept his offer and an exchange takes place. You give him a certain amount (in weight) of gold, he gives you the 10 coconuts.

The other people on the island would also start accepting coconuts in exchange for other goods or services even if they had coconuts of their own because they know coconuts can be exchanged for gold.

The next year there's an exceptional harvest of coconuts. so the supply of coconuts increases. If the people who want to buy some of your gold in exchange for coconuts start bidding against each other, you will be able to get more coconuts for the same amount a gold.

Now let's say someone on the island invented a machine to create coconuts out of thin air. He would be able to outbid all other islanders and buy all the gold that is for sale.

The other islanders would stop accepting coconuts in exchange for the goods and services they offer because the chance that they'll be able to use those coconuts as a means of payment themselves have decreased.

Now think of the gold as gold and think of the coconuts as the USD. (with that difference that the coconuts in itself still have value... you can eat them... can't eat USDs).

The key thing is that you should not think of your gold in terms of USD but in terms of weight. Just like you wouldn't say "I've got 15 coconuts of gold", you don't say "I've got 1500 USD of gold".

On our island, coconuts were a good medium of exchange until someone started counterfeiting them. That's essentially what happened to the USD (and other currencies), governments started creating them out of thin air.

The great thing about gold is that:
- unlike coconuts it's nonperishable.
- very little of it (of the amount that has been dug up by people and that is or has been traded) is ever destroyed.
- there's a limited increase of supply. (and to be able to increase the supply you actually need to do something, so you are essentially producing a product. You can't just enter some numbers in a computer like the bank do)
- you can divide it up in smaller pieces and later recombine them without loss of value (unlike diamonds for example)
- ...

In case of an economic collapse it's not a matter of "cashing in" (That's still thinking of gold as an investment), it's a matter of having a product that will widely be accepted in exchange for other goods and services.

If the USD or EUR have become worthless and you are selling food on the market and 50 people all offer to pay you in USD and 1 person offers to pay you in gold, who will you sell your products to?

Quote:

leaving the poor guy with $30k invested with his thumb up his ass, wondering where his money went.

The USD is not money, it's currency. The EURO is not money it's currency.

u-Bob · 03-14-2011, 07:06 AM

Bob Murphy on Carl Menger's "origin of money"

Quote:

Everyone recognizes the benefits of a universally accepted medium of exchange. But how could such a money come into existence? After all, self-interested individuals would be very reluctant to surrender real goods and services in exchange for intrinsically worthless pieces of paper or even relatively useless metal discs. It's true, once everyone else accepts money in exchange, then any individual is also willing to do so. But how could human beings reach such a position in the first place?

One possible explanation is that a powerful ruler realized, either on his own or through wise counselors, that instituting money would benefit his people. So he then ordered everyone to accept some particular thing as money.

There are several problems with this theory. First, as Menger pointed out, we have no historical record of such an important event, even though money was used in all ancient civilizations. Second, there's the unlikelihood that someone could have invented the idea of money without ever experiencing it. And third, even if we did stipulate that a ruler could have discovered the idea of money while living in a state of barter, it would not be sufficient for him to simply designate the money good. He would also have to specify the precise exchange ratios between the newly defined money and all other goods. Otherwise, the people under his rule could evade his order to use the newfangled "money" by charging ridiculously high prices in terms of that good.

Menger's theory avoids all of these difficulties. According to Menger, money emerged spontaneously through the self-interested actions of individuals. No single person sat back and conceived of a universal medium of exchange, and no government compulsion was necessary to effect the transition from a condition of barter to a money economy.

In order to understand how this could have occurred, Menger pointed out that even in a state of barter, goods would have different degrees of saleableness or saleability. (Closely related terms would be marketability or liquidity.) The more saleable a good, the more easily its owner could exchange it for other goods at an "economic price." For example, someone selling wheat is in a much stronger position than someone selling astronomical instruments. The former commodity is more saleable than the latter.

Notice that Menger is not claiming that the owner of a telescope will be unable to sell it. If the seller sets his asking price (in terms of other goods) low enough, someone will buy it. The point is that the seller of a telescope will only be able to receive its true "economic price" if he devotes a long time to searching for buyers. The seller of wheat, in contrast, would not have to look very hard to find the best deal that he is likely to get for his wares.

Already we have left the world of standard microeconomics. In typical models, we can determine the equilibrium relative prices for various real goods. For example, we might find that one telescope trades against 1,000 units of wheat. But Menger's insight is that this fact does not really mean that someone going to market with a telescope can instantly walk away with 1,000 units of wheat.

Moreover, it is simply not the case that the owner of a telescope is in the same position as the owner of 1,000 units of wheat when each enters the market. Because the telescope is much less saleable, its owner will be at a disadvantage when trying to acquire his desired goods from other sellers.

Because of this, owners of relatively less saleable goods will exchange their products not only for those goods that they directly wish to consume, but also for goods that they do not directly value, so long as the goods received are more saleable than the goods given up. In short, astute traders will begin to engage in indirect exchange. For example, the owner of a telescope who desires fish does not need to wait until he finds a fisherman who wants to look at the stars. Instead, the owner of the telescope can sell it to any person who wants to stargaze, so long as the goods offered for it would be more likely to tempt fishermen than the telescope.

Over time, Menger argued, the most saleable goods were desired by more and more traders because of this advantage. But as more people accepted these goods in exchange, the more saleable they became. Eventually, certain goods outstripped all others in this respect, and became universally accepted in exchange by the sellers of all other goods. At this point, money had emerged on the market.

so money = a universally accepted medium of exchange.
See my previous post about why gold has a lot of things going for it to become 'money'.

Kiopa_Matt · 03-14-2011, 07:35 AM

I understand that, but nonetheless, you seem to be going under the assumption that all currencies will cease to exist, which just isn't going to happen. You're not about to buy a water filtration system with a few shavings off a gold bar, for example. At some point, you're still going to have to transfer that gold into currency. Whether that's USD, EUR, YEN, or some new world currency, it doesn't matter.

Let's use your island and coconut analogy. Joe is living on a nice island, and coconuts are cheap at $0.10. Yet, due to the threat of global warming, Joe and his friends decide to buy a bunch of gold. Joe gets himself $50 worth of gold, so he can now buy 500 coconuts.

Everyone else on the island catches on, starts buying gold too, but there's only so much gold so it raises the price, and Joe can now buy 800 coconuts with his gold. Great, right?

Earthquake hits, tsunami floods the island, and wipes out 80% of the coconuts. Now instead of $0.10, coconuts are $4. People begin realizing they can't afford $4 coconuts on their wage, and when they get hungry, decide they have no choice but to sell the gold that's under their mattress.

At first, everything is great, and people are getting lots of coconuts for their gold. After a month or two though, Joe ends up broke, and decides he has to trade his gold in for coconuts. He goes to the merchant, who says, "man, I already have about 6kgs of gold sitting in the back room. I'll give you 40% what you paid for it. Take it or leave it.". Since Joe is starving, he has no choice but to accept it.

You said yourself, gold relies on a supply and demand system too. What happens when people cash in their gold in mass, and the supply greatly increases? Your gold isn't going to get you as much as it once did. That, and if you want to use your gold, you're still going to have to exchange it into a currency of some kind.

u-Bob · 03-14-2011, 08:08 AM

Of course the purchasing power of gold will fluctuate. There have been times that silver was more valuable than gold, so people would keep their gold in their purse and pay using silver. It's the market at work. The price mechanism adjusting prices.

The important thing here is not how much the value of gold will fluctuate after an economic collapse, the important thing is having goods that can be traded easily in exchange for other goods. Historically gold (see #57) has become one of those universally accepted means of exchange (= money). Optimally one would have both gold, silver and other goods that can easily be traded.

Look at the Weimar republic or Zimbabwe. The official paper currency was/is good for one thing: wiping you ass.

The money you have in your pocket right now does not only gain or lose value based on market conditions, but it constantly loses value due to the actions of governments and banks that essentially counterfeit it.

It think it was DWB who posted earlier in this thread about Argentina. The Argentinian peso devaluation is a very interesting episode in recent history to study. It gives you a good idea of what happens when a nation's currency loses value: the richest 10% that have their assets in foreign banks/currencies, gold, real estate etc get richer. 90% gets poorer.

Kiopa_Matt · 03-14-2011, 08:44 AM

Alright, I'll just leave it with this: Currencies can devalue greatly, and so can gold & silver.

PS. If shit hits the fan, people aren't going to care about gold. It'll be, "ok, I'll re-tile your bathroom in exchange for six chickens", type of thing. Nobody is going to give a fuck about gold if it gets to that extreme, which I highly doubt it will.

Lamis · 03-14-2011, 10:05 AM

Funny to see so many clueless broken adult webmasters trying to play as investors and claiming to know about gold, silver, and other commodities.

Good laugh.. you guys have no fucking idea what you are doing.

And many here just say: "Yes, we bought... yes i bought 100 ounces"..

you guys ain't buying anything, you are full of shit, same as when you say that you still make 10K per month in adult.

JFK · 03-14-2011, 10:09 AM

Quote:

Originally Posted by Lamis

Funny to see so many clueless broken adult webmasters trying to play as investors and claiming to know about gold, silver, and other commodities.

Good laugh.. you guys have no fucking idea what you are doing.

And many here just say: "Yes, we bought... yes i bought 100 ounces"..

you guys ain't buying anything, you are full of shit, same as when you say that you still make 10K per month in adult.

but it makes for a good thread

plsureking · 03-15-2011, 06:40 AM

Quote:

Originally Posted by Lamis

Funny to see so many clueless broken adult webmasters trying to play as investors and claiming to know about gold, silver, and other commodities.

Good laugh.. you guys have no fucking idea what you are doing.

And many here just say: "Yes, we bought... yes i bought 100 ounces"..

you guys ain't buying anything, you are full of shit, same as when you say that you still make 10K per month in adult.

don't cry because you're not..

Advisor · 03-15-2011, 08:34 AM

As you may see - gold more effective (Roubles/dates)
Fact - in WOW2 weapons bought from gold only. In crisis money - just paper. You can buy food only from barter or gold.
If someone wish to buy broken jewelry from 585 probe gold. 1g. gold cost $45-50. Why broken jewelry (junk)? Because jewelry make from this gold and you can sell it very fast if you need cash. You will have so much money how as you bought it or more if gold price raised up for this time.

If you wish make more money - you should buy Property in Russia. You will make money for rent and cost for Property Raise Up with time. Google it. But need to know good investment place for it. Feel free to contact me if you wish invest money in it, we may make good business,

JFK · 03-15-2011, 09:15 AM

Quote:

Originally Posted by Advisor

As you may see - gold more effective (Roubles/dates)
Fact - in WOW2 weapons bought from gold only. In crisis money - just paper. You can buy food only from barter or gold.
If someone wish to buy broken jewelry from 585 probe gold. 1g. gold cost $45-50. Why broken jewelry (junk)? Because jewelry make from this gold and you can sell it very fast if you need cash. You will have so much money how as you bought it or more if gold price raised up for this time.

If you wish make more money - you should buy Property in Russia. You will make money for rent and cost for Property Raise Up with time. Google it. But need to know good investment place for it. Feel free to contact me if you wish invest money in it, we may make good business,

buying property in Russia ?? yeah that's safe, real safe

For those of you who bought gold in the last couple of days, its down 21.86 cdn today

Advisor · 03-15-2011, 09:33 AM

JFK, why you laugh about it? Why you think it's not safe? I think your head full politics dirty, friend. Don't see TV so many times )
I don't know why people buy gold coins etc. They hard to sell and must pay tax...

JFK · 03-15-2011, 09:50 AM

Quote:

Originally Posted by Advisor

JFK, why you laugh about it? Why you think it's not safe? I think your head full politics dirty, friend. Don't see TV so many times )
I don't know why people buy gold coins etc. They hard to sell and must pay tax...

Sorry, if big corporations get screwed over by the Russian 'business system', what chance does a single individual stand ?

and for those who care, just bought a 5 oz silver bar

manufactured by http://www.firstmajestic.com/s/Home.asp

nico-t · 03-15-2011, 10:06 AM

i dont buy gold, i win it by promoting sticky's program.
GOLD JERRY GOLD!!
WINNING!!!

Advisor · 03-15-2011, 10:23 AM

Quote:

Originally Posted by JFK

Sorry, if big corporations get screwed over by the Russian 'business system', what chance does a single individual stand ?

and for those who care, just bought a 5 oz silver bar

manufactured by http://www.firstmajestic.com/s/Home.asp

Big corporations - big interest. I think you mean resource etc. Ofcourse russian politics don't give em chanse to take russian resource etc.

But smaller - McDonalds, NYP, Coca Cola, Pepsi, Baskin Robbins, IKEA, Aushan, Adidas, Camelot and many many others company - works productivity more than tens years. Ofcourse any countries - any special tactics in business, but if you have smart russian top management - you WILL make money here.
My friend, who have Car Tech Business (repair) in irkutsk said,- "Russia have big potencial to make business, because we lagging with europe and america in commerce and light industry, therefore any business, which made money in this country WILL make money in Russia too".
As fact, my hobby - sell heels for striptease. I don't do anything - just advertising and when client paid me - I buy heels from usa and use client shipping address in order.
How I made?
Client bought $140 for heels
I bought heels for $50
Shipping $35 USPS Prioritiy incl. Track Number
No Tax etc.
My income total is $55
I made 1 sale per week without any advertising.
Easy?

Lamis · 03-15-2011, 10:53 AM

GOLD is going DOWN like HELL..

here you can see the lack of experience of some idiots who claim to buy gold and claim theirselves as experts..

what a bunch of ignorants.

JFK · 03-15-2011, 02:07 PM

Quote:

Originally Posted by Lamis

GOLD is going DOWN like HELL..

here you can see the lack of experience of some idiots who claim to buy gold and claim theirselves as experts..

what a bunch of ignorants.

Lost .27 Cents an ounce on the silver I bought today... OMG...... OMG , what will I do ??

brassmonkey · 03-15-2011, 02:46 PM

This is one bizarre way to ride out the current economic lull: A treatment plant in Japan has been processing effluent to recover small quantities of gold contained in sewage. And in one year it's produced a higher yield than you might expect from a gold mine.

The sewage mining was carried out in Nagano prefecture, northwest of Tokyo. And its location may have something to do with its success as a gold source: There are apparently a number of "precision equipment manufacturers" in the region that utilize gold in the manufacturing process. Presumably it's washed into the drains at some point and then enters the local water cycle.

The process doesn't sift for nuggets, of course, instead it involves incinerating the digested poop sludge and processing the ash--recent gold salvage figures reached about 1.9kg of gold per ton of ash. It's earned the Nagano prefecture a total of $168,000 over the last fiscal year. Or thereabouts, as the actual total depends on international gold price variations.

Gold is also present naturally in the environment, of course, in gold mines and in other places. It's not toxic, by itself, and some medicines actually exploit gold--for the treatment of arthritis, for one. Most famously it's found naturally in sea water, but at terrifically low concentrations--estimates place it at around 1 gram for every 100 million tonnes of sea water in the Atlantic and North Pacific.

It seems that sewage is a better source, at least for Nagano, and it's a perfect ratification of the old northern English saying "Where there's muck, there's brass." All it needs is a quick edit to change the metal.

gold can be found in your pooper.

nikki99 · 03-15-2011, 03:23 PM

the quoran says the same gold u have will be melted in your kidneys when u DIE

plsureking · 03-15-2011, 08:26 PM

Quote:

Originally Posted by Lamis

GOLD is going DOWN like HELL..

here you can see the lack of experience of some idiots who claim to buy gold and claim theirselves as experts..

what a bunch of ignorants.

its an adjustment from the buyers of last week.
clearly you don't know anything about investing.

when is your mom going to kick you out of the basement?

Sausage · 03-15-2011, 11:44 PM

Quote:

Originally Posted by Lamis

GOLD is going DOWN like HELL..

here you can see the lack of experience of some idiots who claim to buy gold and claim theirselves as experts..

what a bunch of ignorants.

Obviously you have no idea what you are talking about.

We invest in gold to protect our wealth. Currency is essentially only as good as what backs it, which in most cases is just other currencies. It is actually quite worthless.

I remember idiots like you ranting and raving about how gold wasn't the answer 4-5 years back and how putting all your money in funds and shares and property just couldn't lose. Those of us who even knew a little bought gold, or hedged our bets using precious metals to protect our wealth, and it worked out pretty damn well ;)

Advisor · 09-10-2011, 01:56 AM

Do Yous still don't bought gold or property yet? =))
Gold 1794 roubles now ))
Silver 40.23
Is it going to hell? )
Anyway, I bought few hungreds gramm few months ago and i think my profit will much better than now, coz as i see gold should up to 2300 roubles.
PS: on 14 march 2011 1$=28.63 roubles
on 10 september 2011 1$=29.69 roubles

Emil · 09-10-2011, 02:04 AM

Picked up another 1 oz gold maple leaf coin the other day.

My Pimp · 09-10-2011, 03:28 AM

Gold is too expensive for me. May be you should buy gold stocks or warrants.

Bill8 · 09-10-2011, 03:37 AM

Buy circulated silver dimes. I like mercury dimes, because if the economy doesn't crash in your lifetime they have higher charm and curio value than pre-64 roosevelts.

With dimes you have a pretty well balanced mix of metal value and fungibility, coin value and barterabilty, and collectable and curio value.

Circulated silver dollars and quarters too, but dimes are close to optimum for a crashed economy. Spend some on collectable uncirculated if you like - a hedge bet, basically, that the economy won't crash.

It depends a bit on how much you want to spend and what you long term goals and plans are.

But, I bought most of mine years ago, so it's all gravy for me.

Emil · 09-10-2011, 03:44 AM

Quote:

Originally Posted by My Pimp

Gold is too expensive for me. May be you should buy gold stocks or warrants.

Too expensive? You dont need to buy 1 kilo of gold to invest some money.
If you can afford to invest $500 in stocks then you can invest the same money in gold.......

Advisor · 09-10-2011, 07:00 AM

Correct, Emil.
My Pimp, Buy as many gramms as you want. 1 gramm of 585 probe cost $35 now. It's broken gold jewelry etc (not broken jewelry cost $52 for 1 gramm in item) so you can everytime sell part of it if you need some money and buy more if you have a lot green PAPER

plsureking · 09-10-2011, 08:04 AM

Quote:

Originally Posted by Sausage

Obviously you have no idea what you are talking about.

We invest in gold to protect our wealth. Currency is essentially only as good as what backs it, which in most cases is just other currencies. It is actually quite worthless.

I remember idiots like you ranting and raving about how gold wasn't the answer 4-5 years back and how putting all your money in funds and shares and property just couldn't lose. Those of us who even knew a little bought gold, or hedged our bets using precious metals to protect our wealth, and it worked out pretty damn well ;)

i am glad someone bumped this old thread to show what a ranting and raving idiot i am. the 20oz of gold we bought in January went up over 60%. we sold 3oz last week just to buy some new things for the new house. we'll let the rest ride at least until the end of the year.

this idiot is rich, bitch.

DWB · 09-10-2011, 09:50 AM

Quote:

Originally Posted by plsureking

i am glad someone bumped this old thread to show what a ranting and raving idiot i am. the 20oz of gold we bought in January went up over 60%. we sold 3oz last week just to buy some new things for the new house. we'll let the rest ride at least until the end of the year.

this idiot is rich, bitch.

If you search back, the same people who were saying gold was a bad idea 3 or 4 years ago are the same people who are still saying it today.

There is a reason some people always spin their wheels in life, never really able to get ahead. Many don't even break even. They are unable to understand what is happening or see an opportunity when it presents itself. These are the same type of people who have to get rescued from their rooftop during floods because they thought they could ride out the storm, even though everyone around them left.

plsureking · 09-10-2011, 10:07 AM

Quote:

Originally Posted by DWB

If you search back, the same people who were saying gold was a bad idea 3 or 4 years ago are the same people who are still saying it today.

There is a reason some people always spin their wheels in life, never really able to get ahead. Many don't even break even. They are unable to understand what is happening or see an opportunity when it presents itself. These are the same type of people who have to get rescued from their rooftop during floods because they thought they could ride out the storm, even though everyone around them left.

speaking of floods i am pretty happy we built a 3m retaining wall around our property and built our new house on top. its getting wet out here..

DWB · 09-11-2011, 02:38 PM

Quote:

Originally Posted by plsureking

speaking of floods i am pretty happy we built a 3m retaining wall around our property and built our new house on top. its getting wet out here..

Yea, we're about knee deep here where I live, but in the city I've seen some pics where cars are almost totally submerged.

You mean you build a wall or you elevated your house 3m in addition to the wall?

facialfreak · 09-11-2011, 02:55 PM

Quote:

Originally Posted by baddog

Apmex is who I was looking at, but I was looking at bars instead of coins. Is there some advantage to coins [or jewelery]?

When investing in any precious metals ... ALWAYS take delivery of your purchases ... DO NOT TRUST ANYBODY to hold onto YOUR INVESTMENTS!!

Secondly ... make sure that you have enough that is easily divisible (that you can make small change) to last you for 3-4 months - just in case the economy does completely tank - you want to be able to sell off small quantities of your gold or silver, while leaving the rest of your investments in tact ...

It's easier to sell one 1oz gold coin/round - or use it as currency even, than it will be trying to use a 100oz gold bar to buy your groceries ...

Rule of thumb is generally have $5000 worth of small coins/rounds before you start hoarding larger bars ....

facialfreak · 09-11-2011, 03:10 PM

And one of the biggest scams going is numismatic coins ...

Numismatic coin dealers are preying on uneducated investors now more than ever before!!

Numismatic coins are gold or silver coins that have value in the metal, as well as value in the collectability of the coin (how rare, condition, purity, etc ...)

Numismatic coins in themselves are not a scam ... they do have the value they claim ... but only to another collector/investor ...

If you are investing in precious metals for the intrinsic value of the metal ... investing in numismatic coins is perhaps the BIGGEST mistake you can make ...

These coins sell for sometimes several times the value of the metals contained ... and this 'perceived' value will be lost, if you ever have to use your precious metal coins as currency!!

When the day comes that you need to use a couple silver or gold coins/rounds/bars to buy necessities, you are going to be very hard pressed to find a dealer/collector who will evaluate and grade your coin on the spot, and give you a decent exchange for it!!

If you are investing in precious metals as a means to protect your earnings against a possible collapse of the economy, or to profit from the rising prices of gold and silver in this current bull market, YOU DO NOT WANT TO INVEST IN NUMISMATIC COINS -

DO NOT GET TAKEN IN BY THE HYPE THAT COINS CANNOT BE CONFISCATED BY THE GOVERNMENT!! THIS IS ALL BULLSHIT PROPAGANDA THAT THESE SCAMMERS USE TO PROFIT BY SELLING NUMISMATICS TO YOU!!!

facialfreak · 09-11-2011, 03:23 PM

Quote:

Originally Posted by u-Bob

There have been times that silver was more valuable than gold

Ummm ... when exactly was this?? Please post your sources ...

(Sometimes its better to keep your mouth shut and be THOUGHT a fool, then to open it, and PROVE it!)

EddyTheDog · 09-11-2011, 03:33 PM

I won a fair chunk of change at a casino and bought gold - for a number of reasons that I wont go into.

I sold it just before 9/11 coincedently - What a mistake to make!

Argos88 · 09-11-2011, 04:31 PM

yes, I buy gold futures and electronic gold...

For example, I place a buy order when it's 1800, then I sell at 1850 few hours later, earning 500 bucks.. Then I keep study FIBONACCI and S & R and when it goes to 1820, I buy again and sell at 1900 few days later, earning 800 bucks.. and so all the time. Have been doing this since Gold was 1400.

It will reach 2000 very soon. A great investment right now.

Bill8 · 09-11-2011, 07:17 PM

Quote:

Originally Posted by facialfreak

And one of the biggest scams going is numismatic coins ...

Numismatic coin dealers are preying on uneducated investors now more than ever before!!

I don't know that it should be called a scam. But, true, if you are buying collectable coins as metal you're an idiot.

The idea behind collectables is that if the economy DOESN'T crash, their value increases at a rate that historically has been far higher then the increase in metal values.

I have a nice stash of low to middle grade collectable coins I bought years ago - I figure if the economy doesn;t crash, I'll sell them at a quite nice increase when I am an old fuck, but if the economy does crash, I have the metal.

I have stacks of BU silver dollars - the metal value now is over 4 times what I paid for them - and the collectable premium has also risen - so it's a win both ways.

It's still not an unreasonable strategy, provided you pick the right grade to buy, and buy from the right sources.

Anyway, the picture is more complicated than you paint it to be.

There is a solution tho - just buy circulateds at that days coin silver prices, and leave the uncirculateds to people that have studied.

facialfreak · 09-12-2011, 02:15 AM

Quote:

Originally Posted by Bill8

I don't know that it should be called a scam. But, true, if you are buying collectable coins as metal you're an idiot.

The idea behind collectables is that if the economy DOESN'T crash, their value increases at a rate that historically has been far higher then the increase in metal values.

I have a nice stash of low to middle grade collectable coins I bought years ago - I figure if the economy doesn;t crash, I'll sell them at a quite nice increase when I am an old fuck, but if the economy does crash, I have the metal.

I have stacks of BU silver dollars - the metal value now is over 4 times what I paid for them - and the collectable premium has also risen - so it's a win both ways.

It's still not an unreasonable strategy, provided you pick the right grade to buy, and buy from the right sources.

Anyway, the picture is more complicated than you paint it to be.

There is a solution tho - just buy circulateds at that days coin silver prices, and leave the uncirculateds to people that have studied.

You are correct! Numismatics is a very complicated hobby, and is probably not for the average joe ...

I tried to correct myself .... the scam is not in the coins themselves .... I have a nice little collection of MS70 Morgans and Eagles ...

The scam is in the great number of numismatic coin dealers that are using the current silver bull market to prey on new investors who have no clue on what they are doing!

Imagine their surprise when the economy finally does go tits up ... when they can only get $50 for the coin they paid HUNDREDS of dollars for?!?

Coin collecting ... like stamps, or many other collectables, requires the investor to put a great deal of time into learning and understanding the market for collectable coins.

A rare stamp is only a small piece of paper to a non-collector ...

plsureking · 09-12-2011, 02:39 AM

Quote:

Originally Posted by facialfreak

...

i dont know who you are or wtf you are talking about, but i wanted to mention that the chick in your avatar is fucking hot!

03-14-2011, 06:17 AM	#56
Fletch XXX GFY HALL OF FAME DAMMIT!!! Join Date: Jan 2002 Location: that 504 Posts: 60,840	i got gold ink in my skin lol __________________ Want an Android App for your tube, membership, or free site? Need banners or promo material? Hit us up (ICQ Fletch: 148841377) or email me fletchxxx at gmail.com - recent work - About me

03-14-2011, 07:35 AM	#59
Kiopa_Matt Confirmed User Industry Role: Join Date: Oct 2007 Posts: 1,448	I understand that, but nonetheless, you seem to be going under the assumption that all currencies will cease to exist, which just isn't going to happen. You're not about to buy a water filtration system with a few shavings off a gold bar, for example. At some point, you're still going to have to transfer that gold into currency. Whether that's USD, EUR, YEN, or some new world currency, it doesn't matter. Let's use your island and coconut analogy. Joe is living on a nice island, and coconuts are cheap at $0.10. Yet, due to the threat of global warming, Joe and his friends decide to buy a bunch of gold. Joe gets himself $50 worth of gold, so he can now buy 500 coconuts. Everyone else on the island catches on, starts buying gold too, but there's only so much gold so it raises the price, and Joe can now buy 800 coconuts with his gold. Great, right? Earthquake hits, tsunami floods the island, and wipes out 80% of the coconuts. Now instead of $0.10, coconuts are $4. People begin realizing they can't afford $4 coconuts on their wage, and when they get hungry, decide they have no choice but to sell the gold that's under their mattress. At first, everything is great, and people are getting lots of coconuts for their gold. After a month or two though, Joe ends up broke, and decides he has to trade his gold in for coconuts. He goes to the merchant, who says, "man, I already have about 6kgs of gold sitting in the back room. I'll give you 40% what you paid for it. Take it or leave it.". Since Joe is starving, he has no choice but to accept it. You said yourself, gold relies on a supply and demand system too. What happens when people cash in their gold in mass, and the supply greatly increases? Your gold isn't going to get you as much as it once did. That, and if you want to use your gold, you're still going to have to exchange it into a currency of some kind. __________________ xMarkPro -- Ultimate Blog Network Management Streamline your marketing operations. Centralize management of domains, pages, Wordpress blogs, sponsors, link codes, media items, sales and traffic statistics, plus more!

03-14-2011, 08:08 AM	#60
u-Bob there's no $$$ in porn Industry Role: Join Date: Jul 2005 Location: icq: 195./568.-230 (btw: not getting offline msgs) Posts: 33,063	Of course the purchasing power of gold will fluctuate. There have been times that silver was more valuable than gold, so people would keep their gold in their purse and pay using silver. It's the market at work. The price mechanism adjusting prices. The important thing here is not how much the value of gold will fluctuate after an economic collapse, the important thing is having goods that can be traded easily in exchange for other goods. Historically gold (see #57) has become one of those universally accepted means of exchange (= money). Optimally one would have both gold, silver and other goods that can easily be traded. Look at the Weimar republic or Zimbabwe. The official paper currency was/is good for one thing: wiping you ass. The money you have in your pocket right now does not only gain or lose value based on market conditions, but it constantly loses value due to the actions of governments and banks that essentially counterfeit it. It think it was DWB who posted earlier in this thread about Argentina. The Argentinian peso devaluation is a very interesting episode in recent history to study. It gives you a good idea of what happens when a nation's currency loses value: the richest 10% that have their assets in foreign banks/currencies, gold, real estate etc get richer. 90% gets poorer. Last edited by u-Bob; 03-14-2011 at 08:10 AM..

03-14-2011, 08:44 AM	#61
Kiopa_Matt Confirmed User Industry Role: Join Date: Oct 2007 Posts: 1,448	Alright, I'll just leave it with this: Currencies can devalue greatly, and so can gold & silver. PS. If shit hits the fan, people aren't going to care about gold. It'll be, "ok, I'll re-tile your bathroom in exchange for six chickens", type of thing. Nobody is going to give a fuck about gold if it gets to that extreme, which I highly doubt it will. __________________ xMarkPro -- Ultimate Blog Network Management Streamline your marketing operations. Centralize management of domains, pages, Wordpress blogs, sponsors, link codes, media items, sales and traffic statistics, plus more!

03-15-2011, 08:34 AM	#65
Advisor Registered User Industry Role: Join Date: Sep 2010 Location: Russia Posts: 66	As you may see - gold more effective (Roubles/dates) Fact - in WOW2 weapons bought from gold only. In crisis money - just paper. You can buy food only from barter or gold. If someone wish to buy broken jewelry from 585 probe gold. 1g. gold cost $45-50. Why broken jewelry (junk)? Because jewelry make from this gold and you can sell it very fast if you need cash. You will have so much money how as you bought it or more if gold price raised up for this time. If you wish make more money - you should buy Property in Russia. You will make money for rent and cost for Property Raise Up with time. Google it. But need to know good investment place for it. Feel free to contact me if you wish invest money in it, we may make good business, Last edited by Advisor; 03-15-2011 at 08:42 AM..

03-14-2011, 10:05 AM	#62
Lamis So Fucking Banned Join Date: Sep 2007 Posts: 961	Funny to see so many clueless broken adult webmasters trying to play as investors and claiming to know about gold, silver, and other commodities. Good laugh.. you guys have no fucking idea what you are doing. And many here just say: "Yes, we bought... yes i bought 100 ounces".. you guys ain't buying anything, you are full of shit, same as when you say that you still make 10K per month in adult.

03-15-2011, 09:33 AM	#67
Advisor Registered User Industry Role: Join Date: Sep 2010 Location: Russia Posts: 66	JFK, why you laugh about it? Why you think it's not safe? I think your head full politics dirty, friend. Don't see TV so many times ) I don't know why people buy gold coins etc. They hard to sell and must pay tax...

03-15-2011, 10:06 AM	#69
nico-t emperor of my world Join Date: Aug 2004 Location: nethalands Posts: 29,903	i dont buy gold, i win it by promoting sticky's program. GOLD JERRY GOLD!! WINNING!!!

03-15-2011, 10:53 AM	#71
Lamis So Fucking Banned Join Date: Sep 2007 Posts: 961	GOLD is going DOWN like HELL.. here you can see the lack of experience of some idiots who claim to buy gold and claim theirselves as experts.. what a bunch of ignorants.

03-15-2011, 02:46 PM	#73
brassmonkey Pay It Forward Industry Role: Join Date: Sep 2005 Location: Yo Mama House Posts: 77,139	This is one bizarre way to ride out the current economic lull: A treatment plant in Japan has been processing effluent to recover small quantities of gold contained in sewage. And in one year it's produced a higher yield than you might expect from a gold mine. The sewage mining was carried out in Nagano prefecture, northwest of Tokyo. And its location may have something to do with its success as a gold source: There are apparently a number of "precision equipment manufacturers" in the region that utilize gold in the manufacturing process. Presumably it's washed into the drains at some point and then enters the local water cycle. The process doesn't sift for nuggets, of course, instead it involves incinerating the digested poop sludge and processing the ash--recent gold salvage figures reached about 1.9kg of gold per ton of ash. It's earned the Nagano prefecture a total of $168,000 over the last fiscal year. Or thereabouts, as the actual total depends on international gold price variations. Gold is also present naturally in the environment, of course, in gold mines and in other places. It's not toxic, by itself, and some medicines actually exploit gold--for the treatment of arthritis, for one. Most famously it's found naturally in sea water, but at terrifically low concentrations--estimates place it at around 1 gram for every 100 million tonnes of sea water in the Atlantic and North Pacific. It seems that sewage is a better source, at least for Nagano, and it's a perfect ratification of the old northern English saying "Where there's muck, there's brass." All it needs is a quick edit to change the metal. gold can be found in your pooper. __________________ TRUMP 2025 KEKAW!!! - The Laken Riley Act Is Law! DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

03-15-2011, 03:23 PM	#74
nikki99 Supermodel Industry Role: Join Date: Nov 2004 Location: Sodoma & Gomorra Posts: 22,890	the quoran says the same gold u have will be melted in your kidneys when u DIE __________________ SMC Revenue - Best Tgirl websites of the world now VR Non exclusive BIG Tranny/shemale Package for sale, full 2257 - hit me up skype: nikkimontero

09-10-2011, 01:56 AM	#77
Advisor Registered User Industry Role: Join Date: Sep 2010 Location: Russia Posts: 66	Do Yous still don't bought gold or property yet? =)) Gold 1794 roubles now )) Silver 40.23 Is it going to hell? ) Anyway, I bought few hungreds gramm few months ago and i think my profit will much better than now, coz as i see gold should up to 2300 roubles. PS: on 14 march 2011 1$=28.63 roubles on 10 september 2011 1$=29.69 roubles Last edited by Advisor; 09-10-2011 at 02:00 AM..

09-10-2011, 02:04 AM	#78
Emil Confirmed User Join Date: Feb 2007 Location: Sweden Posts: 5,646	Picked up another 1 oz gold maple leaf coin the other day. __________________ Free 🅑🅘🅣🅒🅞🅘🅝🅢 Every Hour (Yes, really. Free ₿itCoins.) (Signup with ONLY your Email and Password. You can also refer people and get even more.)

09-10-2011, 03:28 AM	#79
My Pimp Confirmed User Join Date: May 2003 Posts: 1,201	Gold is too expensive for me. May be you should buy gold stocks or warrants.

09-10-2011, 03:37 AM	#80
Bill8 Confirmed User Join Date: Oct 2001 Posts: 1,901	Buy circulated silver dimes. I like mercury dimes, because if the economy doesn't crash in your lifetime they have higher charm and curio value than pre-64 roosevelts. With dimes you have a pretty well balanced mix of metal value and fungibility, coin value and barterabilty, and collectable and curio value. Circulated silver dollars and quarters too, but dimes are close to optimum for a crashed economy. Spend some on collectable uncirculated if you like - a hedge bet, basically, that the economy won't crash. It depends a bit on how much you want to spend and what you long term goals and plans are. But, I bought most of mine years ago, so it's all gravy for me.

09-10-2011, 07:00 AM	#82
Advisor Registered User Industry Role: Join Date: Sep 2010 Location: Russia Posts: 66	Correct, Emil. My Pimp, Buy as many gramms as you want. 1 gramm of 585 probe cost $35 now. It's broken gold jewelry etc (not broken jewelry cost $52 for 1 gramm in item) so you can everytime sell part of it if you need some money and buy more if you have a lot green PAPER

09-11-2011, 03:10 PM	#88
facialfreak Confirmed User Join Date: Feb 2005 Location: Montreal Posts: 3,018	And one of the biggest scams going is numismatic coins ... Numismatic coin dealers are preying on uneducated investors now more than ever before!! Numismatic coins are gold or silver coins that have value in the metal, as well as value in the collectability of the coin (how rare, condition, purity, etc ...) Numismatic coins in themselves are not a scam ... they do have the value they claim ... but only to another collector/investor ... If you are investing in precious metals for the intrinsic value of the metal ... investing in numismatic coins is perhaps the BIGGEST mistake you can make ... These coins sell for sometimes several times the value of the metals contained ... and this 'perceived' value will be lost, if you ever have to use your precious metal coins as currency!! When the day comes that you need to use a couple silver or gold coins/rounds/bars to buy necessities, you are going to be very hard pressed to find a dealer/collector who will evaluate and grade your coin on the spot, and give you a decent exchange for it!! If you are investing in precious metals as a means to protect your earnings against a possible collapse of the economy, or to profit from the rising prices of gold and silver in this current bull market, YOU DO NOT WANT TO INVEST IN NUMISMATIC COINS - DO NOT GET TAKEN IN BY THE HYPE THAT COINS CANNOT BE CONFISCATED BY THE GOVERNMENT!! THIS IS ALL BULLSHIT PROPAGANDA THAT THESE SCAMMERS USE TO PROFIT BY SELLING NUMISMATICS TO YOU!!! __________________ Managed Shared Hosting starting at $4.99/mo Managed VPS starting at $29.99/mo

09-11-2011, 03:33 PM	#90
EddyTheDog Just Doing My Own Thing Industry Role: Join Date: Jan 2011 Location: London, Spain, New Zealand, GFY - Not Croydon... Posts: 25,046	I won a fair chunk of change at a casino and bought gold - for a number of reasons that I wont go into. I sold it just before 9/11 coincedently - What a mistake to make!

09-11-2011, 04:31 PM	#91
Argos88 So Fucking Banned Industry Role: Join Date: Sep 2009 Posts: 1,732	yes, I buy gold futures and electronic gold... For example, I place a buy order when it's 1800, then I sell at 1850 few hours later, earning 500 bucks.. Then I keep study FIBONACCI and S & R and when it goes to 1820, I buy again and sell at 1900 few days later, earning 800 bucks.. and so all the time. Have been doing this since Gold was 1400. It will reach 2000 very soon. A great investment right now.