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I am thinking of buying gold bullion as protection against some sort of possable disaster which might befall the United States. I dont wish to be stuck with nearly valueless paper currency if that happens. How as a beginner could I get the best value for my money. I realize that the value of gold fluctuates daily, (hourly), but I want some gold coins on hand. I have checked the charts reguarding the price of gold and think it may be on the upswing. I would appreciate some solid advice. Thank you.
I am thinking of buying gold bullion as protection against some sort of possable disaster which might befall the United States. I dont wish to be stuck with nearly valueless paper currency if that happens. How as a beginner could I get the best value for my money. I realize that the value of gold fluctuates daily, (hourly), but I want some gold coins on hand. I have checked the charts reguarding the price of gold and think it may be on the upswing. I would appreciate some solid advice. Thank you.
Hyperdude
What amount can you invest and still be liquid?
$1k in Metals and your considered an investor -deferred or no tax on purchases.
There are a couple of options for you to consider.
I think Gold is one of the top items but there are four.
If you only knew how to buy Gold,you would love it ,contact me I will get you some info.
Here's the top four.
1) Life Settlements --------Safest- most return for your money
2) Gold,Silver ,Platinum -------- Buy at a good price and know it's value and when to sell.
3) Molly -------- Not well known ,but will be very profitable
4) Diamonds -------- Buy right and turn a quick profit,depends on
the stone and the prices.
You can leverage your gold investments for a high return, but I don't think that's what you want to do. Given what you've said, I would buy gold and silver coins from your local coin dealer and hold them.
Yes, the price goes up and down. However, I think gold is going to $2K/oz and silver is going to $50/oz., so the short term price shouldn't bother you.
I am thinking of buying gold bullion as protection against some sort of possable disaster which might befall the United States. I dont wish to be stuck with nearly valueless paper currency if that happens. How as a beginner could I get the best value for my money. I realize that the value of gold fluctuates daily, (hourly), but I want some gold coins on hand. I have checked the charts reguarding the price of gold and think it may be on the upswing. I would appreciate some solid advice. Thank you.
How can I convert my 401k to gold, with an load balance against my 401k. $18.000.00 in account and $10.000.00 load total portfolio $28.000.00
Gold and Silver will be the only vehicle that has value. Your baseball cards, etc would be worthles.
the fact is gold is not used when economies fail... history shows when an economy collapses, the first thing that appears is a black market barter system in which people trade items for other items or services. A skill, a pair of jeans, or a tank of gas become very valuable, but not gold coins or nuggets. Usually a new government rises from the ashes, and new paper money or coinage is established. Gold will at best play a minor role, and the gold investor will be left with the sick feeling that real estate, canned soup, or knowledge would have been a better hedge against a failed economy...
** this according to Dave Ramsey total money makeover book (I trust his advice)...
case in point.... hurricane katrina... when new Orleans was under water, and the economy failed... It no longer existed...
did you hear of anyone looking for gold, to buy sell or trade? Nope.
gasoline and water, food... were most sought after and worth a lot!
Hello again, gaze:
I've checked out your guy Dave Ramsey. His advice is great, and your advice is too.
However, I think he's wrong about gold. The problem with your New Orleans scenario, is there were dollars around, so who needed gold? If there was a true collapse of the economy, nobody would have dollars, or they'd have a lot of dollars that wouldn't buy much.
But, if they had a gold coins, they could buy what they need, because gold is money. You can say that it isn't as loudly as you want, but the world still thinks it is.
Let me give you an example. When I was a kid, you could buy a gallon of gasoline for a quarter. I was a kid before '65 so my quarter was silver. Today, my silver quarter will STILL buy a gallon of gasoline, but it now takes over 3 dollars to buy the same thing.
If a collapse happens, my silver coins will buy even more.
HI ex you do bring up a good point. there were dollars, assuming people had cash. My guess is most anything run by electricity/computer was down. like ATM machines.... don't matter they were under water anyway. all businesses were shut down... so I doubt you could even walk into a bank to get cash.
most people don't carry much cash these days, so I'd bet that cash was not used much... Just a guess. I could be wrong.
people call daves show all the time and argue about the gold thing... id still bet on him being right...
all businesses were shut down... so I doubt you could even walk into a bank to get cash.
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