I think I want to buy physical gold.

Go to Alaska, get a tv show and find your own.

 

Well it's not necessarily true. The issue is that gold is in a bubble right now. It wouldn't be the price that it is if people weren't buying it like crazy. The inflation is definitely there and the dollar is loosing value but the dollar to gold ratio is not a good indicator.

 

At the end of the day it is your money to lose. But suppose you buy 10oz gold at $2,000 per ounce today ($20,000). When gold drops to $500/oz your $20,000 investment is now worth $5,000, or a net loss of $15,000. Buying gold right now just doesn't make financial sense. If you had bought 10 years ago you'd be doing pretty well right now.

Because that's what it did the last time there was a gold bubble right after a housing bubble, back in the late 70s and early 80s.

 

See below

And what is the value of that gold right now?

Buying pm doesn't fit into a "day trader" mindset. If you're looking to turn something around for a quick buck, sell weed. Want something 10, 15, 20, 30 years from now that will still have value, and if history is any indicator, likely significantly more than it did when you bought it? Consider pms.

Or, go buy a bigger house to store all your dry beans and dehydrated water.

 

Yes, that's why I woudln't recommend buying gold right now. When the price is reasonable go right ahead. But right now is not that time.

Buying high and selling high is not as good as buying low and selling high.

 

Do your own research, make your own decision, but if you're wondering how gold looks historically in inflation-adjusted dollars, look at this:

http://inflationdata.com/Inflation/images/charts/Gold/Gold_inflation_chart.htm

 

I wouldn't recommend buying significant amounts either, and if you've read the thread the OP isn't looking to make a wholesale transition from other assets to gold, he's looking to begin squirrelling some away with extra pieces of soon-to-be-worthless paper, instead of watching those dollars become tinder in his wallet, bank account or stuffed in his mattress.

If shit gets weird, sure, it may have been a *waste* if there's no means of exchange, but is it any more wasteful than the greenbacks he would have traded for gold with being locked up in a vault somewhere, not that anyone would take those either?

 

we got lots of cold this time of year up north, so much its free

 

Does this change my chosen form of payment? I too have buckets full of it & wanted to pay for some decals with it. Are you still accepting?

 

notbostrom=Joe Biden!!!!

 

haha. looking for heat this time of year

 

not sure whats so funny about it. I left the title of the article right on top, it was simply to illustrate a point

 

Oh. OK.

-jim

 

ok i'll be honest, it was to further illustrate a point I made 10 times before but went over everyones head

 

Disagreement does not equal going over ones head.

-jim

 

OP, try the Perth Mint. It is backed by the Australian government.

 

To put gold into perspective, historically, an ounce of gold has been worth a man's suit.

 

Is it time to buy precious metals yet?

 

There are people who make lots of money with precious metals. For the average Joe, there is never a time to buy them. The long term results are poor.