are you guys buying gold?

[Grapesoda]

the banks are stocking up...like 100 ton plus buys. They're saying gold may go to over 5k???

Thoughts?

[pornmasta]

Originally Posted by Grapesoda

the banks are stocking up...like 100 ton plus buys. They're saying gold may go to over 5k???

Thoughts?

that it will if central banks buy gold.
Do they ?

https://www.reuters.com/markets/comm...ys-2023-01-31/

may be...

[Grapesoda]

Originally Posted by pornmasta

that it will if central banks buy gold.
Do they ?

https://www.reuters.com/markets/comm...ys-2023-01-31/

may be...

1,136 tonnes of gold in 2022. I don't know enough about buying gold not to get ripped off I think

[k0nr4d]

Originally Posted by Grapesoda

1,136 tonnes of gold in 2022. I don't know enough about buying gold not to get ripped off I think

Stick to coins, super easy to verify they are real.

[Grapesoda]

Originally Posted by k0nr4d

Stick to coins, super easy to verify they are real.

Thanks, how much would be a good investment? 5K 10K 1K?

[k0nr4d]

Originally Posted by Grapesoda

Thanks, how much would be a good investment? 5K 10K 1K?

That's really up to you to decide and also depends on what your goals are. It wouldn't treat it as a one-time investment but rather something you add to once in a while.

If you are worried about the fall of civilization so in the prepper sense, it's better to buy silver coins. You'd be able to barter easier then with a 1oz gold coin due to the value. You might be able to trade a few 1oz silver coins for a tank of gas etc. The problem with silver is that it weights a ton. You can have like 15-20kg of silver coins and its worth as much as a handful of gold ones so it's much harder to move and takes much more room to store.

If you are buying to hedge against inflation, probably 1oz gold coins. As much as you want to spend for initial investment and then buy an ounce here or there then the price is good. Stick to the top 6 gold coins, people know them and if you need to sell they are easy to verify. If a canadian maple leaf coin is real, it will weight exactly 1 troy ounce, it will be EXACTLY x mm thick, exactly x mm wide, etc. If any of the measurements is incorrect, it's not real - there is no other metal that would allow the weight and size to be exactly correct. Gold bars require special equipment to test if it's real.

As for storage, if you don't have a super heavy safe that would be very hard to move, get one of those home hardware closable buckets, put your coins into a jar, put the jar into the bucket, fill the bucket with sand and bury it in on your property somewhere.

[fuzebox]

I never understood the "buy gold" mentality. One would need a huge amount to practically hedge against a catastrophic currency event...

[pornmasta]

Originally Posted by fuzebox

I never understood the "buy gold" mentality. One would need a huge amount to practically hedge against a catastrophic currency event...

in 2006, it would have been a good strategy.
For coins, i am not sure.
They may have a huge premium vs theiy price per ounce

[fuzebox]

Originally Posted by pornmasta

in 2006, it would have been a good strategy.

S&P500 beats gold over the last 17 years. Either way, the gains aren't life changing.

This is why I don't get it. In k0nr4ds example of trading silver coins for a tank of gas, this paints an apocalypse picture where I'd probably be out murdering people and stealing their shit, rather than worrying about which precious metal to bury in the back yard.

[k0nr4d]

Originally Posted by pornmasta

in 2006, it would have been a good strategy.
For coins, i am not sure.
They may have a huge premium vs theiy price per ounce

That's true, but it also doesn't matter. The coin itself has value in the sense that while you are buying for a premium over spot, you are also selling for a premium over spot when you do sell it. A .999 coin is not the same as a melted blob of scrap .999 gold.

Even if you were to use those 1/10th oz coins like Austrian Dukats. I can't tell you USD prices and I can't be fucked to look but right now a 1oz gold coin here is about 8500 PLN, and a 1/10oz dukat is about 970 PLN. This gives me 9700 PLN to get 1 oz of gold dukats, so theoretically my cost per ounce woudl be less buying a single 1oz coin, but I can still sell those coins at around 960-970 PLN - because not everyone has the money to buy an ounce at once, or doesn't want to buy that much at once, or they want to be able to sell smaller amounts. If you buy a 250gram gold bar you will get much closer to spot price but it's not like you can sell 1/4th of a bar to someone later - it's gotta all go at once.

There is also the numismatic value of coins. There are various silver collector coins that go up drastically in value IE the marvel or star wars ones. Some are harder to find then others, and collectors pay a premium for them. People will even pay a premium on the normal coins if you have a whole set of all the years of a particular minted coin.

So in other words, if you buy a 2023 1oz silver chinese panda today for $25 or whatever it might cost there, in 10-15 years it will have additional numismatic value.

[k0nr4d]

Originally Posted by fuzebox

This is why I don't get it. In k0nr4ds example of trading silver coins for a tank of gas, this paints an apocalypse picture where I'd probably be out murdering people and stealing their shit, rather than worrying about which precious metal to bury in the back yard.

From what I've read about people during the bosnian war etc, bartering is very common in situations like that. If you have something that I need, but you need something else I don't have, then silver could serve as a medium of exchange as it would be widely recognized as having value.

Even in movies, like let's say "beyond thunderdome" - they had bartering there too

And if the world doesn't end... well, I made good gains on the silver.

As for S&P500, sure, but past performance is not a guarentee of future performance. It's not liek you knew 17 years ago that it would outperform gold.

[MetaCPA]

Gold has always been the safest deposit

[AMDWarrior]

Originally Posted by MetaCPA

Gold has always been the safest deposit

Except for this thing called silver..

[Grapesoda]

Originally Posted by k0nr4d

That's true, but it also doesn't matter. The coin itself has value in the sense that while you are buying for a premium over spot, you are also selling for a premium over spot when you do sell it. A .999 coin is not the same as a melted blob of scrap .999 gold.

Even if you were to use those 1/10th oz coins like Austrian Dukats. I can't tell you USD prices and I can't be fucked to look but right now a 1oz gold coin here is about 8500 PLN, and a 1/10oz dukat is about 970 PLN. This gives me 9700 PLN to get 1 oz of gold dukats, so theoretically my cost per ounce woudl be less buying a single 1oz coin, but I can still sell those coins at around 960-970 PLN - because not everyone has the money to buy an ounce at once, or doesn't want to buy that much at once, or they want to be able to sell smaller amounts. If you buy a 250gram gold bar you will get much closer to spot price but it's not like you can sell 1/4th of a bar to someone later - it's gotta all go at once.

There is also the numismatic value of coins. There are various silver collector coins that go up drastically in value IE the marvel or star wars ones. Some are harder to find then others, and collectors pay a premium for them. People will even pay a premium on the normal coins if you have a whole set of all the years of a particular minted coin.

So in other words, if you buy a 2023 1oz silver chinese panda today for $25 or whatever it might cost there, in 10-15 years it will have additional numismatic value.

Going to the valley on Wed, I'll check a few places. Thanks

[plsureking]

Originally Posted by fuzebox

I never understood the "buy gold" mentality. One would need a huge amount to practically hedge against a catastrophic currency event...

my wife used to collect gold and store it in a safe. then she learned currency trading and now she won't hold gold more than a day.

yes she still has the safe full of gold jewelry and coins. nearly 2 decades of paying anniversary dividends

wife said gold will jump tonight (monday US time) when FED raises bond rates. there was a huge gap when the market opened this morning. or something like that. i just listened while i was getting coffee. trading is not my job lol

#

[plsureking]

Originally Posted by k0nr4d

From what I've read about people during the bosnian war etc, bartering is very common in situations like that. If you have something that I need, but you need something else I don't have, then silver could serve as a medium of exchange as it would be widely recognized as having value.

Even in movies, like let's say "beyond thunderdome" - they had bartering there too

And if the world doesn't end... well, I made good gains on the silver.

As for S&P500, sure, but past performance is not a guarentee of future performance. It's not liek you knew 17 years ago that it would outperform gold.

yea there will still be law and order even if there isn't electricity. communities require rules and discipline. there have been orderly communities for tens of thousands of years, long before money was invented. criminals get hung, eaten, or kicked out.

#

[Tasty1]

I would go for gold bars. The weight will be the main factor in the end.
The more the better. Those 10 kilo silver coins also look great.

I was looking for gold, Mexcian Centenarios, but too dificult to take on a travel.

In Holland you pay 21% VAT on silver, but 0% on gold.
They see Silver as commodity. Don't know the rest of Europe.
Governments are registering now how much gold you buy/have when you buy for 2000+ euro.

https://www.bullionstar.com/blogs/jp...mous-exchange/

[OneHungLo]

Originally Posted by Tasty1

I would go for gold bars. The weight will be the main factor in the end.
The more the better. Those 10 kilo silver coins also look great.

I was looking for gold, Mexcian Centenarios, but too dificult to take on a travel.

In Holland you pay 21% VAT on silver, but 0% on gold.
They see Silver as commodity. Don't know the rest of Europe.
Governments are registering now how much gold you buy/have when you buy for 2000+ euro.

The bars are harder to sell. Those 10oz bars are like $20,000 USD vs the coins which are $1,900. Coins come compacted in those hard plastic cylinders and are almost as easy to transport.

I guess in the end it depends on how much you have. If you need like millions in gold, yeah go with the bars. 250k up to a mill is easy with coins.

[Tasty1]

Originally Posted by OneHungLo

The bars are harder to sell. Those 10oz bars are like $20,000 USD vs the coins which are $1,900. Coins come compacted in those hard plastic cylinders and are almost as easy to transport.

I guess in the end it depends on how much you have. If you need like millions in gold, yeah go with the bars. 250k up to a mill is easy with coins.

It is the old questions, what will rise faster, the premium part of a coin, or use the premium to buy more gold.

Just do both. And maybe a gold necklace, easiest to transport without questions.

You could also buy physical gold (or uranium/silver) ETF's.

[Look Chang]

I never bought any gold, but my wife... OMG!

[OneHungLo]

Originally Posted by Tasty1

It is the old questions, what will rise faster, the premium part of a coin, or use the premium to buy more gold.

Just do both. And maybe a gold necklace, easiest to transport without questions.

You could also buy physical gold (or uranium/silver) ETF's.

I like a mix, too.

Can't go wrong there.

The only thing I don't do is trade it online. I'm a bad gambler.

[k0nr4d]

Originally Posted by Tasty1

I would go for gold bars. The weight will be the main factor in the end.
The more the better. Those 10 kilo silver coins also look great.

I was looking for gold, Mexcian Centenarios, but too dificult to take on a travel.

In Holland you pay 21% VAT on silver, but 0% on gold.
They see Silver as commodity. Don't know the rest of Europe.
Governments are registering now how much gold you buy/have when you buy for 2000+ euro.

https://www.bullionstar.com/blogs/jp...mous-exchange/

There is not vat on coins or coin bars, only bars

[k0nr4d]

Originally Posted by plsureking

my wife used to collect gold and store it in a safe. then she learned currency trading and now she won't hold gold more than a day.

yes she still has the safe full of gold jewelry and coins. nearly 2 decades of paying anniversary dividends

wife said gold will jump tonight (monday US time) when FED raises bond rates. there was a huge gap when the market opened this morning. or something like that. i just listened while i was getting coffee. trading is not my job lol

#

Other way around. It jumps if they don't raise rates.

[plsureking]

Originally Posted by k0nr4d

Other way around. It jumps if they don't raise rates.

#

[Tasty1]

Originally Posted by k0nr4d

There is not vat on coins or coin bars, only bars

In Holland there is 21% Vat on Silver bars, a little less VAT on Coins (but also VAT)
There is 0% VAT on Gold bars or coins.
https://goudzaken.nl/kennisbank/goud-zilver-en-btw/

Every country has his own rules.

[CAHEK]

Originally Posted by Tasty1

It is the old questions, what will rise faster, the premium part of a coin, or use the premium to buy more gold.

Just do both. And maybe a gold necklace, easiest to transport without questions.

You could also buy physical gold (or uranium/silver) ETF's.

Silver ETF’s are paper funds and owned & get played by banks. Not sure they even hold physical silver.

Uranium is overpriced. Wait for market pull back. It’s not worth to buy at this high levels.

Natural Gas is something you can go for, prices got completely crushed and hopefully recover by end of this year.

[jscott]

Originally Posted by k0nr4d

Stick to coins, super easy to verify they are real.

I think opposite, buy bullion, and stick to known brands like PAMP & Credit Suisse.

But buying physical gold and buying Bitcoin (withdrawn to non custodial wallet) are the safest, especially in times like this when banks are being tested and failed for being ponzi's

[k0nr4d]

Originally Posted by jscott

I think opposite, buy bullion, and stick to known brands like PAMP & Credit Suisse.

But buying physical gold and buying Bitcoin (withdrawn to non custodial wallet) are the safest, especially in times like this when banks are being tested and failed for being ponzi's

The problem with bars, even ones in certipacks, is that they might be fake. You cant open the certipack to test it, because it basically makes the gold bar worth junk .999 gold price. You cant do it via measuring either, because it can be any size. A coin is very easy to test using something like this https://www.thefisch.com/

[MatureKing]

Originally Posted by Grapesoda

the banks are stocking up...like 100 ton plus buys. They're saying gold may go to over 5k???

Thoughts?

u want to know the truth? we are in the ass