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Discussion Forum

Topic: Investing in gold?
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~Lenore

09-10-2009 10:50:40
66.142.142.148



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I want to invest some money in gold. Have any of you experience in this? I want to know what is the best safest most profitable way to invest in it.
Is buying gold coins? Is buying gold certificates? or gold stocks? Have you any personal experience and how has your investment done? I have an IRA that is fixing to mature and I am thinking of rolling it over into gold, can I do that? Is there a better company to trust?

I would appreciate your information and advice.

Sid

09-10-2009 20:34:52
67.210.55.135



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I agree with Ray, the ones making money are the brokers. I understand you don't have to worry about security. A lot of them give you a piece of paper saying you own it and will store it for you rent free. That is not for me. I am really not one to give investment advice. I have so called lost money in the past. I say so called because I was able to at least get my original amount back. If your IRA has been good and you don't need any of it leave it to your kids and grand kids. I believe you can list them as benificaries

~Lenore

09-11-2009 08:46:00
68.89.42.211



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Yes, they are already listed that way. I was just wondering about other options. Thanks, I guess if no better option shows up I may just do that.

Lightening Bug

09-10-2009 15:21:03
72.85.45.108



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This is a tough call. Why - because you need to have someone you can trust who looks at the total picture.

One has to look at questions like:

How old are you?
How much money do you already have invested?
Do you have a 401K? How long? Have you matched the funds with your co.?
Do you have other investments? How much and how long?

In other words there is no way over the internet one can recommend investment approaches.

Unless you invest in ETF's more than likely investing in gold may not be wise. However, hit the flea markets, yard sales, etc. and buy gold - resell it and invest where you have determined it is appropriate.

Take care.

Wylie Kyote

09-10-2009 15:09:04
124.180.26.213



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Hi Lenore. After reading Wikipedia on gold, the British Gold Sovereign has always been a good investment. The Canadian Maple Leaf and the Australian Gold Nugget are also very good. In Aussie to "try" and purchase a Gold Nugget is virtually impossible, the collectors snapped them up years ago. In the long term gold, precious metals and jewels have always been a good investment. Having said that, remember one very important thing, for every "winner" there is always a "looser".

T_Bone

09-10-2009 14:37:10
64.57.205.153



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Hi Lenore,

Performance of gold has always been a "long term investment" and never a short term investment. Yes there's short run-ups just like stocks or other commodities that makes a person want too jump in.

Physical gold(aka bullion), is gold that you can hold in your hands and is graded upon purity, ie; .9999 fine = pure gold.

Maple Leaf, Englehard, Johnson Mathey contain .9999 gold and is the purest form you can buy (or was).

All "other" gold bullion contains 1oz of gold BUT not .9999 fine or just like buying jewelry at 10k, 12k, 14k, or 18k. 22k =.9999 gold so 18k has 81.82% of gold and contains 18.18% of other metals. Gold coinage is also the same for run of the mill gold coins.

The above a "very basic" out line of owning gold. There's thousands of articles written on the subject.

If you don't keep "physical gold" at home under lock and key and keep your "mouth shut", then expect to pay a storage fee. A bank safe deposit box would be the next cheapest storage cost (there's drawbacks too this method).

NEVER buy bullion and let the company store it for you.

T_Bone

~Lenore

09-10-2009 14:47:43
66.142.142.148



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I have a safety deposit box and keep important things in it. If I were to buy gold I would definitely keep it there. I am not the type to talk about things like that. Even my children are not told everything. ;-)

This money I am wanting to invest is for long term investment, I hope I never have to even redeem it for cash. Thanks for your input. This is the first time I have discussed this idea with anyone.

I was wanting to get some ideas from all the smart folks who post here.

GeneMO

09-10-2009 14:03:17
209.183.51.45



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It may not be a good investment, but the 1oz bullion coins I paid $440 for are worth right at $950, and the $20 St. Gaudins I paid $575 for are selling for $1890. But the thing is I never intend to sell them, just pass them on to grandkids.

Silver is not as expensive and make great gifts. You can put a 1oz, pure silver coin in the Christmas stocking for less than $20.

I have also bought the little 1/10 oz gold coins and given them as gifts, but that was when I could buy them for $45 or so. Not any more!

I do agree food and items to trade are worth having on hand.

I kind prefer land myself, they dont make any more of that.

Good luck,, Gene

RayP(MI)

09-10-2009 13:51:37
207.241.137.116



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Only ones making money in gold are the ones selling to investors like us...

vabill

09-10-2009 13:25:18
69.72.102.74



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its not a good investment. you are pretty conservative so a good investment for you is a pretty safe one. treasuries, cds etc. gold is way more volatile than the stock market and tends to drop when things are pretty calm. i'm not sure how to do it but you can track gold as an investment over a couple years and see what rate of return you would have gotten. and you really don't want to have gold in your house in case of a robbery. i think ronar could help you better. bill

~lenore

09-10-2009 12:57:10
66.142.142.148



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I guess I did not give the proper information. I would like what ever I invest this money in to be something I do not need to use myself but instead can leave it to my children as part of their inheritance.

I would like to leave a little something for them when I leave this world. Do other folks think of these things when you get into your 60s? I do, I plan for prepaid funeral and cemetery plot. I would like to leave things in order and nice and tidy when I depart. Not that I plan to leave right away but someday I will. So I am thinking ahead and making plans that will leave my children with no difficult big decisions to make.

Does this sound morbid? I have been thinking about these things shortly after I became a Christian. Leaving here sounds exciting now but I know my children will be sad. So I am trying to make everything, the transition, as easy and as painless for them as I can. ;-) Maybe it is that ISTJ in me?

doc

09-10-2009 14:14:56
74.44.114.78



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admirable that you are going to make your own arrangements....my mother did that and it was easier on us for sure...... i myself always wonder what would happen if the funeral home would go broke or sell out...


so many folks leave the cost of the funeral for their kids....i take my hat off to you....

while they are predicting gold to go double up,,,who knows.... keeping your eggs in 3 or 4 baskets is good advice.

Sid

09-10-2009 20:18:12
67.210.55.135



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"i myself always wonder what would happen if the funeral home would go broke or sell out..." Wonder no more. It is not always good. A few problems are starting to show up around here.

here ya go...

09-10-2009 13:11:12
64.12.116.206



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moola!
zip.

well then...

09-10-2009 13:09:26
64.12.116.206



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kuggerands.(sp)
zip.

s19438

09-10-2009 12:49:23
64.12.116.206



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i have about $2400.00 worth in my mouth.

cargocult

09-10-2009 12:34:23
67.44.88.35



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My @itude is: Can u EAT gold?? I prefer 2 store Useful Stuffs like food,toiletries, cleaning stuffs, fuel ,tools, seeds, Toilet Paper!! (Which will be worth its W8 in Gold if the ball drops), & BOOZE!! 4 TRADING or drinking. I don' drink, but it makes a gud Trade Item, because ALKIES will trade ANYTHING 4 a drink!! ;-) Another poster has said th@ gold is Not A Gud Investment @ this time & I agree! Wh@ would U rather have, a bit of food or a bar of gold?? I have a bit o'gold, but don' buy it 4 security. But 2 each his own. Everybody has his/her own opinion & situ8ions! Gud Luk!! CC

Jimbo

09-10-2009 11:43:42
99.35.190.25



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My only experience with gold investing is called buying jewelry for my wife. Over the years it has had some really good returns.

Red Dave

09-10-2009 11:38:09
66.216.141.163



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Lenore, I own a small amount in the form of U.S. Gold Coins. That way purity and weight are guaranteed by the U.S. Mint.

Investing in gold is a dangerous game. I would not invest a significant portion of my money reserves in gold, it is too risky. A small amount is one thing, (and by small I mean 1 or 2% of total investments), but I would never take the chance with more. That is just me, I would not presume to advise you.

But keep in mind that just a few years ago gold was under $300 an ounce, today it is hovering near $1,000 an ounce. That is an all-time high. It may go up, but it could just as easily go back to $300 also.

There are a lot of commercials being run these days urging people to buy gold. In my opinion, those running the commercials are the ones who bought at $300, $400 & $500 and are now looking to cash in.
In my opinion, the money to be made in the gold market has already been made.
In my opinion, buying now would be buying high, selling low.

I could be wrong, I have been before.

Again, I would not presume to advise you, but I would not advise a friend or relative to buy gold now.

coffee

09-10-2009 11:27:36
207.190.115.153



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If I had a lot of $$ (which I don't), I'd invest in about this order: cert. of deposits and then land. A couple old tractors maybe; I could use a Farmall A with a belly mower. Stocks, bonds & gold don't seem that attractive. My $.02. Mark.

TnT

09-10-2009 11:37:38
131.17.129.22



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I have a B model Farmall I'l sell you for the price of one ounce of gold!

Coffee

09-10-2009 14:08:24
207.190.115.153



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I'd hang onto that B, if I were you. I might buy it to go with the Cub, but it would take another oz/gold to deliver it here:) Thanks, Mark.

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