Investing in Gold or Silver

[CowboyRam]

Dad sold a commercial property he had in Colorado, and is thinking of investing some of the money in gold or silver. It might be a good thing to put some money into. I have just started to look companies that sell gold or silver. The only problem is storage, I'm not sure I like that idea. If he does buy, he maybe should put in a safety deposit box at the bank. Or maybe he should just buy some mutual funds or stock. Not really sure yet. Has anyone invested in gold or silver? opinions?

 

[faster horses]

We have a friend who we think understands investing. He says the problem with gold is,
"how do you spend it?"

I have no idea. We invested in Gold mines and that didn't do well.

 

[Brute 23]

I would not buy any thing right now. I would hold for a fall. That is what I am currently doing with my cash.

 

[CowboyRam]

I have done a little research and have found that some of these companies will sell you the gold or silver coins, but when you want to cash them in you have to sell them back to the company they were bought from. I'm not sure that is a good deal.

 

[Travlr]

I would not buy any thing right now. I would hold for a fall. That is what I am currently doing with my cash.

Me too...
The national debt is ridiculous and now there is a possible conflict before we've even paid for the last one. The problem is we are at the mercy of the wonks that own the printing presses. They can just print as much as they want. In the meantime we need something that will retain value regardless of a depression or inflation.

 

[faster horses]

I have done a little research and have found that some of these companies will sell you the gold or silver coins, but when you want to cash them in you have to sell them back to the company they were bought from. I'm not sure that is a good deal.

Good to know. Thanks.

 

[Ouachita]

Sometimes people just show up to buy a Guernsey milk cow, and asked if you'll accept payment in <'64 coins.
Sometimes you just gotta say yes, as you whip out your cell phone and check spot price.

 

[moses388]

he maybe should put in a safety deposit box at the bank.

Safety deposit box is a good option. Some cases the annual fee can be deducted from your taxes.

Or maybe he should just buy some mutual funds or stock.

Depends on Dad's age. A person's age determines how much risk they should allow with their investments. Market investments have higher risk than CDs, Bonds, Notes, or precious metals.

I have done a little research and have found that some of these companies will sell you the gold or silver coins, but when you want to cash them in you have to sell them back to the company they were bought from. I'm not sure that is a good deal.

I haven't heard that before. Many places will buy gold. Antique dealers, coin shops, gold dealers, or pawn shops to name a few. When selling you will be bartering. Do a little research and know what your stuff is worth. Some of the places mentioned would also sell you gold or silver.

Spot prices are the current market prices for precious metals formed into bars and bricks. Spot prices do not directly correlate to prices of collector coins such as American Buffalo coins or American Eagle coins. Multiple factors affect the valuation of collector coins:
-metal content
-mintage quantity
-grade or quality
-mint location (Philadelphia, San Francisco, Denver, West Point)

 

[moses388]

I would not buy any thing right now. I would hold for a fall. That is what I am currently doing with my cash.

That is one strategy. With inflation the way it currently is I would avoid sitting on cash. It may not be much, but you can be earning interest with a short-term CD or high-yield savings account while you wait.

 

[Hippie Rancher]

Dad sold a commercial property he had in Colorado, and is thinking of investing some of the money in gold or silver. It might be a good thing to put some money into. I have just started to look companies that sell gold or silver. The only problem is storage, I'm not sure I like that idea. If he does buy, he maybe should put in a safety deposit box at the bank. Or maybe he should just buy some mutual funds or stock. Not really sure yet. Has anyone invested in gold or silver? opinions?

I'm old school - real old school. from the time man started herding livestock around 10,000 years ago animals became wealth. land and livestock are the only real wealth you need. all other wealth flows from productuction on the land.

 

[Brute 23]

That is one strategy. With inflation the way it currently is I would avoid sitting on cash. It may not be much, but you can be earning interest with a short-term CD or high-yield savings account while you wait.

I use a money market account to hold "cash".

 

[Son of Butch]

Warren Buffett says gold is a poor investment because it doesn't reproduce itself.
"It's better to have a goose that keeps laying eggs than a goose that just sits there and eats insurance and storage."

In theory the value of gold never changes, it's the price of the currency used to purchase the gold that fluctuates. It's usually viewed as a good way to go long on fear.

Do what you want, but I would not hold more than 6 months of living expenses in physical gold or silver. just my 2 cents

 

[Lee VanRoss]

I use a money market account to hold "cash".

And how do you propose to access that in a crash and burn?

 

[puzzled in oregon]

Dad sold a commercial property he had in Colorado, and is thinking of investing some of the money in gold or silver. It might be a good thing to put some money into. I have just started to look companies that sell gold or silver. The only problem is storage, I'm not sure I like that idea. If he does buy, he maybe should put in a safety deposit box at the bank. Or maybe he should just buy some mutual funds or stock. Not really sure yet. Has anyone invested in gold or silver? opinions?

Take a look at APMEX.

 

[necattle]

Dad sold a commercial property he had in Colorado, and is thinking of investing some of the money in gold or silver. It might be a good thing to put some money into. I have just started to look companies that sell gold or silver. The only problem is storage, I'm not sure I like that idea. If he does buy, he maybe should put in a safety deposit box at the bank. Or maybe he should just buy some mutual funds or stock. Not really sure yet. Has anyone invested in gold or silver? opinions?

Invest no more than 3% of cash into either gold or silver. Both are heavily manipulated as they should both be much much higher. Check silver and gold history to see how many years both are flat.
Keep in mind silver is a US currency. Take a silver eagle to your bank, Walmart, or another establishment and they have to take your silver dollar. Not true of gold.
Very very limited sources to cash in and coins will need to be sent to any of those institution
Gold will be reclaimed by our government when ever they want.
I am selling all my silver sometime this year. Inflation, shortages, higher interest rates will help create better investments than staying in silver.

 

[KAstocker]

If you want general exposure to gold and don't want to do a ton of research on companies or don't want to physically hold it, you could invest in the GLD etf. Or maybe wait like Brute said and see if the fed is serious about these rate hikes this year. If so, it would be good to wait.

 

[TexasRancher]

I don't think many in here will admit to investing and holding gold and silver....dangerous to talk about...too many ears, too many thieves. Money (cash) is becoming a hot potato that can devalue overnight, like in Mexico 66% value gone overnight...costing 3x more to buy anything. It's my personal belief (more extreme and realistic than most people) ...Since 2020 you CANNOT safely sell Land or R.E. in cash anymore...it's too risky. Land should only be exchanged for other land property (equal value) or sold for gold-silver to be on the safe side. Holding lots of cash in accounts is too risky....you'll wish you never sold your land.
Yes, buy gold and silver for protection (10% to 50% of your portfolio)....gold is easy and dense to store anywhere safe....don't put it in a safe-deposit box (can be confiscated under emergency). Yes, they both are very liquid...you can selling them quickly and readily to all Precious metal buyers or on-line marketplace individuals. Silver is heavy and takes up large areas. Silver has better potential of taking off price wise than gold...as the Gold to Silver Ratio G:S is 1:80 (controlled-dictated by man) and God's law (ratio) inside the earth's crust and mining are about 1:16 G:S....that ratio WILL BE FALLING in the coming years. Silver will spike. Yes, take possession of your silver. For storage of silver...i would put in in large diameter PVC tubes with sealed end caps and bury it (silver doesn't rust or corrode)...have markers and documentation held in security for others. Investing in precious metals is long-term..... for economic emergencies. Holding precious metals is like planting a tree...it's really for others to enjoy. They'll be happy you took the time to invest wisely. Man, men like Putin....they undermine world economies. Can you trust your dollars will be worth reasonable the same in the future? I can't.

 

[Lee VanRoss]

I don't think many in here will admit to investing and holding gold and silver....dangerous to talk about...too many ears, too many thieves. Money (cash) is becoming a hot potato that can devalue overnight, like in Mexico 66% value gone overnight...costing 3x more to buy anything. It's my personal belief (more extreme and realistic than most people) ...Since 2020 you CANNOT safely sell Land or R.E. in cash anymore...it's too risky. Land should only be exchanged for other land property (equal value) or sold for gold-silver to be on the safe side. Holding lots of cash in accounts is too risky....you'll wish you never sold your land.
Yes, buy gold and silver for protection (10% to 50% of your portfolio)....gold is easy and dense to store anywhere safe....don't put it in a safe-deposit box (can be confiscated under emergency). Yes, they both are very liquid...you can selling them quickly and readily to all Precious metal buyers or on-line marketplace individuals. Silver is heavy and takes up large areas. Silver has better potential of taking off price wise than gold...as the Gold to Silver Ratio G:S is 1:80 (controlled-dictated by man) and God's law (ratio) inside the earth's crust and mining are about 1:16 G:S....that ratio WILL BE FALLING in the coming years. Silver will spike. Yes, take possession of your silver. For storage of silver...i would put in in large diameter PVC tubes with sealed end caps and bury it (silver doesn't rust or corrode)...have markers and documentation held in security for others. Investing in precious metals is long-term..... for economic emergencies. Holding precious metals is like planting a tree...it's really for others to enjoy. They'll be happy you took the time to invest wisely. Man, men like Putin....they undermine world economies. Can you trust your dollars will be worth reasonable the same in the future? I can't.

amen!

 

[Caustic Burno]

I would not buy any thing right now. I would hold for a fall. That is what I am currently doing with my cash.

Smart answer IMO.
Gold gains no value is the problem.

 

[moses388]

Take a silver eagle to your bank, Walmart, or another establishment and they have to take your silver dollar.

American Buffalo or American Eagle coins are legal U.S. currency. The currency value is on the back of the coin - American Buffalo $50 and 1oz Silver Eagles $1. However, on the precious metals market the coins are worth much more than that.