Buying gold
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    Buying gold

    Been looking at buying gold lately for a long term investment. Anybody have and tips or advice they can share?

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    Other than a hedge against inflation, there are better investment vehicles that will actually net you a return.
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    I have been thinking of doing the same, this is a interesting article I found check it out >>>> https://www.bankrate.com/investing/5...in-gold-coins/
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    Quote Originally Posted by 10Gauge View Post
    Other than a hedge against inflation, there are better investment vehicles that will actually net you a return.
    I've been building a nest egg. Do you have any suggestions? Something an investment-illiterate like me could do?

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    Quote Originally Posted by Richard W. View Post
    I've been building a nest egg. Do you have any suggestions? Something an investment-illiterate like me could do?
    Eh.. I'm not an investment advisor nor do I play one on TV. Like any major decision, you should seek out professional advice before investing. All investing involves risk and you could lose some or all of your investment.

    That being said, in all honesty I would take a hard look at real estate. Not just the REITS (real estate investing trusts) although that's something you might be able to do in a regular IRA*(not sure on that one, but it 'should' be okay since they're like stocks) but also actual properties. You can own and control property inside a self directed IRA that's managed by a custodian like Quest or a similar firm that specializes in those types of accounts. Stay away from Equity Trust. They're the big boys in the field but they're sluggish and investors are starting to migrate away from them. They're a wealth of information though so definitely read up on that. You can grow a self directed account tax free instead of just plunking money into it. super abbreviated example if you finance a flip and make $15,000 inside your SDIRA it's all tax free. You have to be careful though. There are prohibited transactions that will cause your IRA to blow up if the IRS finds out.

    You can also do deals outside an investment vehicle which makes it easier to deploy the money and have joint ventures or partnerships, but there are a bunch of different taxes to be aware of and a competent CPA would be able to help there. Like with anything it involves due diligence and knowing who you're dealing with. Proper documentation such as contracts, JV agreements where you outline exactly who gets what and when, who does what, etc.

    Or some of the more traditional investments might be low cost index funds, which Warren Buffett seems to favor.
    Richard W. likes this.
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    No matter what investment vehicle you choose, there will be ''experts'' who love it and an equal number who hate it. Strictly your call. Do your home work and due diligence. Remember, experts, Financial Advisers and professionals want to make money off you. Will they have your best interest at heart, maybe yes maybe no. I know, I didn't really give you anything but this I know, I can hold gold in my hand and it has always been of value from the dawn of man. A paper stock like say NY Central Railroad, well we know where that went along with LTV Steel and hundreds of others. Also gold is a finite item. One day it will run out.
    Some experts say gold or a gold ETF should be no more than 5% of anyone's financial portfolio.
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    JM Bullion has a decent service. I've bought gold and silver bars from them in the past. The price of gold is a bit high right now, though. Probably not the best time to buy, but who really knows!
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    I'd buy ammo right now. It's priced the lowest I've seen it in more than 10 years.
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    The switch from gunshots to injections is a sign that China "promotes human rights now," says Kang Zhongwen , who designed the Jinguan Automobile death van.

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    I saw gold @ just under 600 when the market bottomed in 09, but there were much belter places to put money then.
    Dividend paying stocks with auto reinvest was what I chose, worked out well.
    Nothing against gold whatsoever, watch the spot and jump on in.
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    Quote Originally Posted by 22many View Post
    Been looking at buying gold lately for a long term investment. Anybody have and tips or advice they can share?
    Gold is not a investment,it is wealth insurance plain and simple.people have car insurance,health insurance,homeowners insrance,life insurance.most americans have no wealth insurance.it is known by smart wealthy people to have 10% of your wealth in gold that you hold in your hand,not a ETF fund.ETF funds claim to have every share backed by gold but who believes anybody from wall street today.you will probally never get rich holding gold,but you will never be poor either.i can hit the delete key on your 401k,ira,bank account and all your "money"disappears.nobody can do that to your gold or silver that you hold in your hand.when the paper markets tanked,1987,2000,2008,millions of investors in those markets lost billions.if they had had 10% of the money in gold they would not have been wiped out."money is supposed to be a "storehouse of value"a steady medium of exchange for purchasing power.the TV tells you there is no inflation in America so thats why you get 2% on your savings account.i have a bridge in Brooklyn to sell you if you believe that.one ounce of gold has had the same purching power for 5000 years.i will give you a example.when we used to live in America our money was backed by gold.in 1904 a 20 dollar bill or a 20 dollar gold piece had the same value,either 1 bought you a months worth of groceries or a new suit.put them both in a drawer and pull them out in 1930 and either 1 bought you a months worth of groceries or a new suit.put them both in a drawer and pull them out in 2019.a 20 dollar bill here in ny buys you 2 packes of cigerattes,while a 20 dollar gold piece from 1904 is worth about $1300,which still buys you a new suit or a months groceries.the us dollar has lost 97% of its purchasing power since 1913.the best way to own gold is to buy pre 1933 certified PCGS OR NGC ONLY common date $20 liberty or saint gaudens MS62 or MS63.that is you best bang for the buck.no rare or high grade collector coins.dont buy modern us gold coins as they are considered bullion.if you take a $20 gold piece to a coin shop and sell it,there is no social security number or 1099 required because it is money and you are just exchanging one form of money for another.if you take more than 20 new american gold coins or kugerands you will have to fill out paperwork because they are considered Bullion and that is a commodity.you can take as many pre 1933 $20 gold pieces and sell they and no reporting needed.that is the best way to protect your wealth.the naysayers say you shouldn't hold that at home,or you need a safe.you can fit about 10 $20 gold pieces in a mayo jar with mayo and put it in the fridge.no crook is ever going to steal you fridge only your gun safe and tv.you get that there are many ways ho hide small things of great value.


    here is a good deal,about $1400 apiece

    https://www.ebay.com/itm/1922-1923-1...pe!14559!US!-1
    Last edited by Blackreign; 05-03-2019 at 07:33 PM.
    JoDaBo and 43m1garand like this.

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    Gold is not a good investment. Stock marked has outperformed just about everything decade after decade.
    Hell, even if you buy index ETF at the top (I believe we are nearing a top), in the long run you will outperform gold by a lot.
    Right now I am loading on TSLA shares. I also like the ARK invest ETFs.
    Do your own research. This is not investment advice.
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    Quote Originally Posted by stoyan79 View Post
    Gold is not a good investment. Stock marked has outperformed just about everything decade after decade.
    Hell, even if you buy index ETF at the top (I believe we are nearing a top), in the long run you will outperform gold by a lot.
    Right now I am loading on TSLA shares. I also like the ARK invest ETFs.
    Do your own research. This is not investment advice.
    read my post,it is not a investment,it is wealth insurance period.

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    Quote Originally Posted by 22many View Post
    Been looking at buying gold lately for a long term investment. Anybody have and tips or advice they can share?
    You talking a couple dozen or so oz's for the safe or bigger money in futures?



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    Quote Originally Posted by Blackreign View Post
    Gold is not a investment,it is wealth insurance plain and simple.people have car insurance,health insurance,homeowners insrance,life insurance.most americans have no wealth insurance.it is known by smart wealthy people to have 10% of your wealth in gold that you hold in your hand,not a ETF fund.ETF funds claim to have every share backed by gold but who believes anybody from wall street today.you will probally never get rich holding gold,but you will never be poor either.i can hit the delete key on your 401k,ira,bank account and all your "money"disappears.nobody can do that to your gold or silver that you hold in your hand.when the paper markets tanked,1987,2000,2008,millions of investors in those markets lost billions.if they had had 10% of the money in gold they would not have been wiped out."money is supposed to be a "storehouse of value"a steady medium of exchange for purchasing power.the TV tells you there is no inflation in America so thats why you get 2% on your savings account.i have a bridge in Brooklyn to sell you if you believe that.one ounce of gold has had the same purching power for 5000 years.i will give you a example.when we used to live in America our money was backed by gold.in 1904 a 20 dollar bill or a 20 dollar gold piece had the same value,either 1 bought you a months worth of groceries or a new suit.put them both in a drawer and pull them out in 1930 and either 1 bought you a months worth of groceries or a new suit.put them both in a drawer and pull them out in 2019.a 20 dollar bill here in ny buys you 2 packes of cigerattes,while a 20 dollar gold piece from 1904 is worth about $1300,which still buys you a new suit or a months groceries.the us dollar has lost 97% of its purchasing power since 1913.the best way to own gold is to buy pre 1933 certified PCGS OR NGC ONLY common date $20 liberty or saint gaudens MS62 or MS63.that is you best bang for the buck.no rare or high grade collector coins.dont buy modern us gold coins as they are considered bullion.if you take a $20 gold piece to a coin shop and sell it,there is no social security number or 1099 required because it is money and you are just exchanging one form of money for another.if you take more than 20 new american gold coins or kugerands you will have to fill out paperwork because they are considered Bullion and that is a commodity.you can take as many pre 1933 $20 gold pieces and sell they and no reporting needed.that is the best way to protect your wealth.the naysayers say you shouldn't hold that at home,or you need a safe.you can fit about 10 $20 gold pieces in a mayo jar with mayo and put it in the fridge.no crook is ever going to steal you fridge only your gun safe and tv.you get that there are many ways ho hide small things of great value.


    here is a good deal,about $1400 apiece

    https://www.ebay.com/itm/1922-1923-1...pe!14559!US!-1
    Much of what you said is what I have read also. Im not looking for a maximum return on my money as i have other investments for that. It is more for taking a big chunk money, putting it somewhere where it will grow overtime and not having to maintain it as you would with other investments. It would definitely be pre 1933 and you are correct, no SS number is tied to it upon sale and no government confiscation.

    Im aware of property being a better investment. Hell, I retired off of investment property 8 years ago when i was 39 so i know the ins and outs of that. Other investments that im currently making will pay off quite well in years to come also. I guess i should have stated that it wasn’t a way to put all my eggs in the same basket.

    At any rate, i got a gold guy here that is local that i can work with but figured id ask people's opinions first.

    YankeeZulu, it would be a big purchase. Go big or go home right!

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    Quote Originally Posted by 10Gauge View Post
    Other than a hedge against inflation, there are better investment vehicles that will actually net you a return.



    10Gauge, Walleye, scottyb and 3 others like this.
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