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Posted: 4/17/2006 9:06:00 AM EST
The is great unrest afoot, and the powers in the world are becoming more uncetain everyday, or is it every hour?
Link Posted: 4/17/2006 9:21:11 AM EST
$600!
I wanted to get some gold when it was rising but looks like I waited too long.

Wasn't it about $1000 in 1982?

So inflation wise, it isn't that high right now. I just remember what a bath my dad took buying gold for $800 an ounce.
Link Posted: 4/17/2006 9:25:57 AM EST

Originally Posted By SS109:
$600!
I wanted to get some gold when it was rising but looks like I waited too long.

Wasn't it about $1000 in 1982?

So inflation wise, it isn't that high right now. I just remember what a bath my dad took buying gold for $800 an ounce.



I remember by dad buying it at $600-$800 and ounce too, or so I thought. I talked to him recently about it and he said he bought some at $600 and some at $300 back in the late 70's early 80's. He says he is finally breaking even on his purchases. But he also realizes that he is still down a bit because it's such a pain in the balls to sell gold coins at market value unless you're the broker.
Link Posted: 4/17/2006 9:27:19 AM EST
$600 an ounce!?

What the Hell!?

AAaaGghh...

Damn it I was thinking about buying some soon...

F*Ck...

Link Posted: 4/17/2006 9:29:11 AM EST

Originally Posted By smokycity:
But he also realizes that he is still down a bit because it's such a pain in the balls to sell gold coins at market value unless you're the broker.



he should try ebay. coins usually do market price + a premium.
Link Posted: 4/17/2006 9:29:44 AM EST

Originally Posted By smokycity:
.
.
But he also realizes that he is still down a bit because it's such a pain in the balls to sell gold coins at market value unless you're the broker.


eBay man, eBay.
Link Posted: 4/17/2006 9:31:32 AM EST
Awesome. I will wait for it to go any higher before I sell any more of mine off.

I have 30 or so ounces in the safe, from the families gold mine. We have a patented mining claim here in eastern Oregon, that's always fun to go work in the summer.

Gotta dig out the pond again this year though
Link Posted: 4/17/2006 9:32:37 AM EST
You talking about this stuff?

Link Posted: 4/17/2006 9:36:56 AM EST
I don't feel like checking myself, but how's silver and platinum doing?
Link Posted: 4/17/2006 9:47:10 AM EST

Originally Posted By NME:
I don't feel like checking myself, but how's silver and platinum doing?


Click here:
www.kitco.com/market/
Link Posted: 4/17/2006 9:51:47 AM EST

Originally Posted By 308Sako:
The is great unrest afoot, and the powers in the world are becoming more uncetain everyday, or is it every hour?




hell , have you just noticed . wake up and smell the coffee , it really started about 5 weeks ago .

688
Link Posted: 4/17/2006 10:09:07 AM EST
Been going on for over three years
Link Posted: 4/17/2006 10:17:29 AM EST

Originally Posted By SS109:
$600!
I wanted to get some gold when it was rising but looks like I waited too long.

Wasn't it about $1000 in 1982?

So inflation wise, it isn't that high right now. I just remember what a bath my dad took buying gold for $800 an ounce.



right after my father died in the 70's you could buy gold (i bought some krugerands) for around 130 an ounce. my mother had a small insurance policy (one of many) that paid about 12,000. I tried to get her to buy 100 krugerands. I think it went to 800 or thereabouts sometime later.

personally i think gold is too high right now. might go higher. but you could get strung out like those who bought at 700, 800 during the last craziness.
Link Posted: 4/17/2006 10:19:31 AM EST
Last check 10 mins. ago it's $618 and change. Let's all get pliers and go down to the 'hood...
Link Posted: 4/17/2006 10:20:02 AM EST

Originally Posted By warlord:

Originally Posted By NME:
I don't feel like checking myself, but how's silver and platinum doing?


Click here:
www.kitco.com/market/



Thanks, that sucks too...

Link Posted: 4/17/2006 10:21:02 AM EST
[Last Edit: 4/17/2006 10:21:23 AM EST by NewbHunter]

Originally Posted By NME:
I don't feel like checking myself, but how's silver and platinum doing?



Silver is doing even better than gold, as it should be. It is STILL undervalued at $13.47 as I type this. It should be at a 16:1 ratio with gold.

I bought silver two months ago and as of right now it's value has increased by about 28% in that time (taking into account my buying price and current SPOT).

Conservative forcasts predict it to hit the low 20's by the end of the year, some say higher.

We've been talking about this for a while in SF, suprised it took this long to get to GD.
Link Posted: 4/17/2006 10:31:24 AM EST

Originally Posted By st0newall:

..............right after my father died in the 70's you could buy gold (i bought some krugerands) for around 130 an ounce. my mother had a small insurance policy (one of many) that paid about 12,000. I tried to get her to buy 100 krugerands. I think it went to 800 or thereabouts sometime later.

personally i think gold is too high right now. might go higher. but you could get strung out like those who bought at 700, 800 during the last craziness.



You could buy a gallon of gasoline for .35-.50 a gallon. Now it's 3.00. So is gold really that "high?" I don't pretend to know, just seems to me the almighty dollar has shrunk somewhat during that period- takes a hell of a lot more of them to buy anything than it did then.
Link Posted: 4/17/2006 10:56:55 AM EST

Originally Posted By smokycity:

Originally Posted By SS109:
$600!
I wanted to get some gold when it was rising but looks like I waited too long.

Wasn't it about $1000 in 1982?

So inflation wise, it isn't that high right now. I just remember what a bath my dad took buying gold for $800 an ounce.



I remember by dad buying it at $600-$800 and ounce too, or so I thought. I talked to him recently about it and he said he bought some at $600 and some at $300 back in the late 70's early 80's. He says he is finally breaking even on his purchases. But he also realizes that he is still down a bit because it's such a pain in the balls to sell gold coins at market value unless you're the broker.



He probably isn't breaking even. Most people forget to calculate in the oportunity cost of their investments. If your dad had bought even lousy savings bonds 20 years ago his money would have doubled by now.
Link Posted: 4/17/2006 11:24:58 AM EST

Originally Posted By 6of1:

Originally Posted By smokycity:

Originally Posted By SS109:
$600!
I wanted to get some gold when it was rising but looks like I waited too long.

Wasn't it about $1000 in 1982?

So inflation wise, it isn't that high right now. I just remember what a bath my dad took buying gold for $800 an ounce.



I remember by dad buying it at $600-$800 and ounce too, or so I thought. I talked to him recently about it and he said he bought some at $600 and some at $300 back in the late 70's early 80's. He says he is finally breaking even on his purchases. But he also realizes that he is still down a bit because it's such a pain in the balls to sell gold coins at market value unless you're the broker.



He probably isn't breaking even. Most people forget to calculate in the oportunity cost of their investments. If your dad had bought even lousy savings bonds 20 years ago his money would have doubled by now.



Adjusting for inflation, if your dad bought silver in the early 80's at $600 he's not even close to breaking even yet.

Translation - gold and silver are still dirt cheap.
Link Posted: 4/17/2006 11:26:08 AM EST
goes up and down all the time, chill
Link Posted: 4/17/2006 7:01:57 PM EST

Originally Posted By NewbHunter:


Translation - gold and silver are still dirt cheap.



And they still sound like a bad investment!

If you had bought at $300 you would have done better with bonds, and much better with an index fund.

The one big advantage to gold & silver is hiding wealth.
Link Posted: 4/17/2006 7:08:57 PM EST
Link Posted: 4/17/2006 7:13:07 PM EST
I have a little bit of silver from a few years ago when it was around $6-7 /oz. I dont know whether to sell it or keep it just for fun...
Link Posted: 4/17/2006 7:20:54 PM EST
Well, the same people who say silver is a bad investment now at $13.64 were saying it was a bad investment three years ago when I bought it at $4.46.

I think they're still wrong.

People made a fundamental mistake in not recognizing a seachange in the financial markets in the early 80's, and they got taken to the cleaners on gold. Stocks and bonds were the place to be, like gold was throughout the 70's. People HATED stocks and bonds in 1980 they's both been big losers for a decade, they were cheap, and as a result there was profit to be made.

There's been another seachange, that's what you've got to recognize, the stock market reached a long term top (inflation adjusted), interest rates reached a long term bottom, and the investment world is entirely different than it was a decade ago.

Stocks and bonds were incredibly expensive in 2003, and still are now.

Metals were incredibly cheap in 2003, and still are now.

Nothing is a good or bad investment 100% of the time, you've got to do your research and put your capital where it will do you the most good NOW, what was a good investment 20 years ago is meaningless.

Link Posted: 4/17/2006 7:24:17 PM EST

Originally Posted By Ponyboy:

Originally Posted By jerry48430:
You talking about this stuff?

i3.photobucket.com/albums/y87/he1/GoldPictures009.jpg




That's pretty cool. Did you get all of that stuff yourself?



I'll have to pull a George Washington on that. A friend got it in Colorado. I only wish I could get that much around here. I get it here but not in that size or quantity
Link Posted: 4/17/2006 7:25:43 PM EST

Originally Posted By jerry48430:

Originally Posted By Ponyboy:

Originally Posted By jerry48430:
You talking about this stuff?

i3.photobucket.com/albums/y87/he1/GoldPictures009.jpg




That's pretty cool. Did you get all of that stuff yourself?



I'll have to pull a George Washington on that. A friend got it in Colorado. I only wish I could get that much around here. I get it here but not in that size or quantity




I will let you come out and mine my claim if ya want. With a full days run, we can usually score about 4-5 ounces. Every now and then we will get a good fingernail sized nugget, but mostly smaller stuff.
Link Posted: 4/17/2006 7:27:42 PM EST
I love it, not to hijack the thread but anybody have an opinion on the ETF fund from street tracks? I think one share = 1/10 ounce of gold. Symbol is GLD
Link Posted: 4/17/2006 7:35:33 PM EST
I will keep that in mind for the future. I have quite a few friends that live out there, from Medford to Happy Camp, and I haven't made it out there yet. The guy that has the pictured gold has a claim somewhere southeast of Medford.
Link Posted: 4/17/2006 7:37:22 PM EST
So does this mean we're headed for "Peak Gold"?
Link Posted: 4/17/2006 7:37:54 PM EST

Originally Posted By PromptCritical:
So does this mean we're headed for "Peak Gold"?



Oh Noes!11
Link Posted: 4/17/2006 7:49:41 PM EST
Look at the silver charts for the last 6 months. Some make the claim that if you sell at $50 in the next year or so your selling too early. Im holding out for $75.
Silver is a consumed metal unlike gold which is primaily used for money and jewelry. Look how much silver is used in electronics. Most of it is not recoverable as well. The above ground supplies are about kaput not to mention the silver ETF which is supposed to be out any time.
Link Posted: 4/17/2006 8:51:20 PM EST

Originally Posted By tnek:
Look at the silver charts for the last 6 months. Some make the claim that if you sell at $50 in the next year or so your selling too early. Im holding out for $75.
Silver is a consumed metal unlike gold which is primaily used for money and jewelry. Look how much silver is used in electronics. Most of it is not recoverable as well. The above ground supplies are about kaput not to mention the silver ETF which is supposed to be out any time.

I thought gold was used in computers and also in cableing?
Link Posted: 4/17/2006 9:46:02 PM EST
I guess I'll wait to sell some of the silver I have.
Link Posted: 4/18/2006 3:50:17 AM EST

Originally Posted By SS109:

Originally Posted By NewbHunter:


Translation - gold and silver are still dirt cheap.



And they still sound like a bad investment!

If you had bought at $300 you would have done better with bonds, and much better with an index fund.

The one big advantage to gold & silver is hiding wealth.



Whatever you say. I bought silver 2 months ago and so far it's value has risen about 42% since then.
Link Posted: 4/18/2006 3:53:04 AM EST
I'm gonna go to a coin shop tomorrow and ask what the price is for an ounce of "bling".
Link Posted: 4/18/2006 3:57:32 AM EST
Nice Poke Jerry!

Aviator
Link Posted: 4/18/2006 4:42:42 AM EST

Put some of your IRA or 401K in symbol: CEF. The fund (it's an ETF) invests all its assets in gold and silver bullion, not mining stocks or other dilutors. It's been going up and up. I haven't regretted it.

www.centralfund.com
Link Posted: 4/18/2006 11:16:16 AM EST
Better buy gold now, because the price can only go up!!!!
Link Posted: 4/18/2006 11:23:48 AM EST

Originally Posted By Aviator:
Nice Poke Jerry!

Aviator



Sure is. To bad it belongs to Wallymi. You should know of him from Tom's.
Link Posted: 4/18/2006 1:03:56 PM EST

Originally Posted By SS109:
And they still sound like a bad investment!

If you had bought at $300 you would have done better with bonds, and much better with an index fund.

The one big advantage to gold & silver is hiding wealth.



I hope you aren't a broker, because you're advice is just going to make people broker. If you invested in silver 2 years ago (like I did), silver cost you around $6.40 a troy ounce. Today, it'll pay you back about $14.04 a troy ounce. The S&P500, in the same period, has returned about a 14% gain. As for bonds, ha ha ha.

There are some stocks that have done better than 40% per year, but not that many.
Link Posted: 4/18/2006 1:10:05 PM EST
I'll sell you 55 grains of lead and copper or 147 grains of the same for an ounce of gold when the SHTF.
Link Posted: 4/18/2006 3:38:26 PM EST
Sounds like you are offering "free delivery" as well!

Link Posted: 4/19/2006 10:53:17 AM EST
Price of gold is up again today...
Link Posted: 4/19/2006 10:55:13 AM EST

Originally Posted By MyakkaVice:
Price of gold is up again today...



A lot. So is silver.
Link Posted: 4/19/2006 10:58:29 AM EST

It's starting to make me a bit nervous about the dollar.
Link Posted: 4/19/2006 11:03:13 AM EST
I heard Sugar has had big price gains this year too, close to 70%.
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