kruggerand $80 over spot

[bugsy714]

I think it is important to note that the value of gold does not change over time what is changing is the value of the dollar. Gold is literally the gold standard so you are freezing some of your wealth now into something that is guaranteed to have value in the future

Downside of gold is that it does not generate interest, so you are essentiallyHedging against future inflation and locking up some of your assets into something that is guaranteed to have value regardless of political or other concerns


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[jeep78]

I'm not being augmentative, just trying to understand if perhaps I should invest in PMs. If I look at 10 years of gold prices, it looks like they were pretty flat for most of that and that they've gone up a lot since the covid stuff started. With traditional stocks, you'd expect that to reverse itself whenever whatever causes the run-up clears. Don't you think that'll be the case with gold too? Seems like the worst time to buy. Additionally, it looks like physical gold has at least a 7.5% cost if you never want to use that wealth, is that a valid point? I get it that you avoid the risks associated with someone else holding your gold, but 7.5% is a LOT.

In 1999 to 2000, the price of gold was 300/oz. It is 1777/oz today. No it doesn't pay interest, but it is an excellent store of wealth.

 

[Shotgun Surgery]

I'm not being augmentative, just trying to understand if perhaps I should invest in PMs. If I look at 10 years of gold prices, it looks like they were pretty flat for most of that and that they've gone up a lot since the covid stuff started. With traditional stocks, you'd expect that to reverse itself whenever whatever causes the run-up clears. Don't you think that'll be the case with gold too? Seems like the worst time to buy. Additionally, it looks like physical gold has at least a 7.5% cost if you never want to use that wealth, is that a valid point? I get it that you avoid the risks associated with someone else holding your gold, but 7.5% is a LOT.

Keep in mind that when we were taken off the gold standard in1971, the price of gold was $35. Now it's around $1,800. Is it that gold now buys you 50x as many goods and services as compared to 1971? No, it's that the US dollar buys you 50x fewer goods and services. The price of gold goes up and down, but its long term trajectory is upwards; that tells you more about the US dollar than it does gold. The fact that gold is near its all time nominal high doesn't mean anything because the nominal prices aren't adjusted for inflation. Something like 30% or 40% of all US dollars ever made were created in the past year; all real goods and services will eventually be 30% or 40% higher because of this.

As far as 7.5% specifically goes, that if you sell to a business who acts as a middle man between you selling gold and someone else eventually buying it. If you sell directly to another person rather than going through that middle man your spreads drop dramatically. There's a specific subreddit called /r/pmsforsale which deals in people buying and selling PMs directly to one another, and this ends up cutting out most of the loss you'd get selling to a dealer. You could also try selling here on ODT and ever so slightly below the price most of the big dealers offer and you'd probably find a buyer.

 

[svsboris]

I'll buy a quarter

 

[adrianrog]

Ok, Now it's starting to make more sense, you trade privately to avoid the markups, at least some of them. Seems sort of like guns though, you could buy guns and hold them too. I think I'll stick with the stock market, my portfolio has been doubling every 5-7 years since 1999 and I don't know that I could have done that with gold or guns either. I do see the appeal in it now though, certainly more than I did a couple of hours ago. I didn't realize there was such a big private market.

 

[chucklenut]

price of a silver quarter in 1965=.25 cents
price of gasoline in 1965=.25 cents
price of silver quarter in 2019=2-3 dollars
price of gasoline in 2019=2-3 dollars
price of silver quarter now=4.71
price of gasoline now=2.79

mark my words gasoline will be 4 bucks a gallon before the summer is thru

 

[chucklenut]

Ok, Now it's starting to make more sense, you trade privately to avoid the markups, at least some of them. Seems sort of like guns though, you could buy guns and hold them too. I think I'll stick with the stock market, my portfolio has been doubling every 5-7 years since 1999 and I don't know that I could have done that with gold or guns either. I do see the appeal in it now though, certainly more than I did a couple of hours ago. I didn't realize there was such a big private market.

gold and silver purchases and sales are not taxed

biden is doubling the ****ing capital gains tax so have fun wit SEC monitored fakery

 

[Shotgun Surgery]

Ok, Now it's starting to make more sense, you trade privately to avoid the markups, at least some of them. Seems sort of like guns though, you could buy guns and hold them too. I think I'll stick with the stock market, my portfolio has been doubling every 5-7 years since 1999 and I don't know that I could have done that with gold or guns either. I do see the appeal in it now though, certainly more than I did a couple of hours ago. I didn't realize there was such a big private market.

You might want to have at least some gold. If everything else fails, gold wont.

 

[Jeddak]

Ok, Now it's starting to make more sense, you trade privately to avoid the markups, at least some of them. Seems sort of like guns though, you could buy guns and hold them too. I think I'll stick with the stock market, my portfolio has been doubling every 5-7 years since 1999 and I don't know that I could have done that with gold or guns either. I do see the appeal in it now though, certainly more than I did a couple of hours ago. I didn't realize there was such a big private market.

How much longer do you think the market will keep going up? Have you looked at P/E ratios lately?

 

[sniper22]

Can any of youns splain what spot it and how it works and stuff?? .