Question on Buying Gold

[JB4310]

"If it was a wise store owner, he would take your gold in a heartbeat."
...and I disagree with your synopsis.

If it was a wise store owner that took a gold coin or coins in trade for hard goods, what avenue does he have to determine the value of the coin, other than it's face denomination which isn't a true indicator of it's worth?

Will the store owner have an accurate calibrated scale on hand to determine the actual worth at that minute (because gold fluctuates daily, if not by the hour).. I doubt it.

Legal tender aka FRN;s are much easier. We all know they aren't worth much but none of us can accurately determine what that said gold coin is actually worth other than the store owner taking it to a specialized gold exchange and cashing it in...with, I presume the customer tagging along.

It's too cumbersome for average barter. Besides, coins wear your pocket liners out from abrasion....Why everyone deals in plastic now days......

The coins would be easy to know their worth, the weight is on them.

You bring up a good point that I was just thinking about regarding green cash. In that worst case scenario, with the break down of society, cash would be powerful as well since there is a limited supply. Most people don't have enough to get thru the week and even banks barely have enough for payday. So dollars, as much as we have lost some faith in will be a fairly rare commodity, those with it will fare better while at the store/ bartering than those with plastic.

then again, if you were to have taken that 600 and bought 300 shares of ford 3 years ago..youd have had $4,200 now. your arguments are also made of straw... or better yet if you had bought Las vagas sands when it was at $4 about 3 years ago you would have $7.050.00 right now

I only quote these 2 as thats what i did with the money i had instead of buying gold......

Now you are talking about market timing, you would of lost your pants if you bought and sold those stocks at the wrong time.

You could of bought gold at any time in history and you would be way up now.

I just discovered I have 20 American eagle silver coins, I forgot I had them.
they are marked .999 and 1 oz. I now I didn't pay much for them, I thought they were just old coins in the tube but when I saw the .999 I realised they are basically bullion?

JB

 

[YanmarFever]

This is a great discussion, a lot of sheep are being forced to think about the future, or be slaughtered..

Lets not forget that when an economy collapses, CRIME is a big threat too.
Just look at Argentina

Also, many Jews escaped **** Germany by bribing the guards with gold coins. And many made a new start in other lands with the gold they took with them on that journey.

 

[schoolsout]

then again, if you were to have taken that 600 and bought 300 shares of ford 3 years ago..youd have had $4,200 now. your arguments are also made of straw... or better yet if you had bought Las vagas sands when it was at $4 about 3 years ago you would have $7.050.00 right now

I only quote these 2 as thats what i did with the money i had instead of buying gold......

I bought Nova Gold at $.65...

I bought some other miners that have done very well, too

The only reason those stocks went up was because of gov't bailouts/intervention. Gold doesn't have the liabilities a stock does.

That said, congrats on your purchases. Don't assume I've only bought gold as I haven't. Thanks...

 

[schoolsout]

This is a great discussion, a lot of sheep are being forced to think about the future, or be slaughtered..

Lets not forget that when an economy collapses, CRIME is a big threat too.
Just look at Argentina

Also, many Jews escaped **** Germany by bribing the guards with gold coins. And many made a new start in other lands with the gold they took with them on that journey.

This was the point I was alluding to regarding past currency collapses...

That said, have you ever tried to leave the US with any sort of wealth? They are making it harder and harder to do so. I'd make the case that it is much easier to "bail out" should that time ever come with gold/silver (private wealth) than transferring money in bank accounts (digitized form).

 

[schoolsout]

And JB, that's a good point about physical cash...there are some FRNs in the safe as well as metal

 

[grsthegreat]

the only things really nice about my stock purchases...was when i sold some of them, i took the profits and paid cash for my tractor and implaments......so in otherwords th stock market bought my toys...ewr tools.

 

[brin]

This was the point I was alluding to regarding past currency collapses...

That said, have you ever tried to leave the US with any sort of wealth? They are making it harder and harder to do so. I'd make the case that it is much easier to "bail out" should that time ever come with gold/silver (private wealth) than transferring money in bank accounts (digitized form).

Schoolsout...you google the federal law on trying to leave the country with your gold...I am not going to tell you....you look it up for yourself so you believe it...You are flat...wrong ! You would lose your gold at customs. !

 

[schoolsout]

Schoolsout...you google the federal law on trying to leave the country with your gold...I am not going to tell you....you look it up for yourself so you believe it...You are flat...wrong ! You would lose your gold at customs. !

There are ways around that

 

[brin]

There are ways around that

Please !:confused2:

 

[grsthegreat]

you melt it and make it into a pair of underwear.?? Or fill every tooth and cap them in gold??

Then again, knowing how our border security is, just make them look like an ak47 and you can get it over the border ..no problems