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  • Investing in gold a good idea?

    I'm hearing more and more radio commercials for companies that want to send me information on the wonders of investing in the gold market. I've never really thought to look into it further until just now (on a whim). Anyone knowledgeable on this?

    Interestingly, the US Mint isn't selling any gold American Eagle coins until the market settles.

    More interesting is that one of the companies that I've heard of is offering American Eagles cheaper than the prices showing on the US Mint site. I would've thought that Uncle Sugar would be the cheapest source...

    Regardless of the value of gold as an investment, I think I'm going to start buying coins as a way to keep money out of the bank, just in case. Anyone have any advice, warnings or dealer recommendations?
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  • #2
    Re: Investing in gold a good idea?

    I have no useful input, but if you do invest in gold coins and collect sufficient quantity, I *DEMAND* you send me a picture of them all in a little treasure-chest box, so that I may begin to plan how to pillage it. Yarrr... ;)
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    • #3
      Re: Investing in gold a good idea?

      Originally posted by Spyder
      I have no useful input, but if you do invest in gold coins and collect sufficient quantity, I *DEMAND* you send me a picture of them all in a little treasure-chest box, so that I may begin to plan how to pillage it. Yarrr... ;)
      Hmmm...

      A little treasure chest filled with these would be cool:
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      • #4
        Re: Investing in gold a good idea?

        Right now gold is at its highest price in a few years (give or take a dollar or something). If that's your idea of a good time to invest then go ahead :D

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        • #5
          Re: Investing in gold a good idea?

          Cing, the moment has passed. Think of it like the Internet Stock bubble of 2000: by the time they start trying to get joe investor on the street involved, the guys who jumped in at the start of the current trend are looking to cash out. That's where gold is at right now.

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          • #6
            Re: Investing in gold a good idea?

            I've heard some good things about emissions trading recently.

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            • #7
              Re: Investing in gold a good idea?

              Keep anything long enough and it's value could increase.
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              • #8
                Re: Investing in gold a good idea?

                Originally posted by Vinzalf
                Keep anything long enough and it's value could increase.
                I know tons of people that are holding onto junk that they think will be collectible or an antique. And there are plenty of people that still have shares of pets.com that will wait around forever for them to be valuable.

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                • #9
                  Re: Investing in gold a good idea?

                  Originally posted by Vinzalf
                  Keep anything long enough and it's value could increase.
                  This is my thinking, too. Long term, gold will always increase in value, right? It has done so for the last few thousand years, and there's no reason to think it'll stop.?...

                  My other thought is that no matter what happens to our economy (depression, anarchy, nuclear war), gold will always have value, and will be in my house instead of in a bank or in the form of a stock certificate or savings bond.
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                  • #10
                    Re: Investing in gold a good idea?

                    Whatever your thinking, gold is at its highest price in years. If you want to sock all your money away in metal form, then go ahead, but I can't help but think there are other metals that would serve you better. Like copper. 20 years from now copper is going to be like, scarce.

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                    • #11
                      Re: Investing in gold a good idea?

                      Out of bank investment...

                      My dad bought a harley... Thats got lots of metal... Besides the fact he had fun riding it he also made 2 grand in return while selling it before we moved here...

                      The only expensive peice of metal, besides my computer components, would have to be my 14K gold tooth pick i got from my grandpa... :p
                      Oyee

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                      • #12
                        Re: Investing in gold a good idea?

                        Originally posted by TychoCelchuuu
                        Whatever your thinking, gold is at its highest price in years. If you want to sock all your money away in metal form, then go ahead, but I can't help but think there are other metals that would serve you better. Like copper. 20 years from now copper is going to be like, scarce.

                        I think you may have point there. One of my friends works in the metal recycling industry (scrap yard) He was saying the other day that copper is fetching £2600 a ton. 1000 kg. Thats alot of money for hardly any amount really.


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                        • #13
                          Re: Investing in gold a good idea?

                          Originally posted by TychoCelchuuu
                          Whatever your thinking, gold is at its highest price in years. If you want to sock all your money away in metal form, then go ahead, but I can't help but think there are other metals that would serve you better. Like copper. 20 years from now copper is going to be like, scarce.
                          OK, opinions are cool, but is there anyone here that actually knows anything about investing in precious metals?

                          Tycho, what isn't near its highest price in years? Gas? Milk? Dow Jones average?

                          Does the US Government sell copper coins that are guaranteed for weight and content? I want this to be simple; and gold, silver and platinum seem to be my only options from the US Gov't. What about other countries? I was looking at gold Krugerrands and Sovereigns, too.
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                          • #14
                            Re: Investing in gold a good idea?

                            Originally posted by CingularDuality
                            Long term, gold will always increase in value, right? It has done so for the last few thousand years, and there's no reason to think it'll stop.?...
                            Wrong term. Gold will increase in price, so long as inflation is allowed. It's value can only be measured relative to other commodities by a specific actor. (Value is subjective.) In general, averaged over the populace, gold's value compared to other commodities (food, oil) is pretty constant. Price is the relative value compared to a currency. If the value of currency falls, the price of commodities rise.

                            It may be highly in demand right now because the Fed may be planning another bout of inflation:

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                            • #15
                              Re: Investing in gold a good idea?

                              Originally posted by munchkin
                              I've heard some good things about emissions trading recently.
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