Recently, I've been considering buying gold. It has topped $1000 per ounce (though you can buy it in very small amounts online, for as little as about $45) and, at the rate we're going, seems likely to keep rising. It would have been wise, had I been born a lot earlier, but buy gold years ago when the price was significantly lower.
LewRockwell.com has an article today on buying gold -- the advisability of bullion over diamonds; basic coins over those marked up for their historic value; physical gold instead of certificates; and private storage over safety deposit boxes easily accessable by Uncle Sam (yes, even in Switzerland).
The piece doesn't explain everything one would need to know about buying gold, but it's a good start. Especially because "[t]he dollar is in huge trouble and is on its way to reaching its intrinsic value, which is very bullish for gold."
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My reasoning is this: If I keep thousands of dollars of cash in the bank, what will happen too it?
My conclusion is of course to buy gold/silver. How much paper do I turn into gold? I base that decision on how many hours of paid labor I am okay with letting become "volunteer" hours when the dollar crashes.
Where can you find it as low as $45?
I've never purchased anything there, so I don't know if it's trustworthy, but: http://www.apmex.com/Product/50420/1_gram_Sunshine_Minting___9999_Fine_G...
Though most people our age aren't in a position to buy a lot a gold, the alternative has better profits. Silver. Silver can be easily found, whether its, actual bars, coin, ingots, etc. or by finding old jewelry, solid (watch out for plated) silverware, or whatever. Currently golds YTD growth is 19.83% while silver is at 58.17%. It is widely predicted that silver will continue to outperform gold. A good site to watch metals prices is 24hgold.com, these guys have a very nice site with many stories linked from places like LRC.
Yeah, if anyone knows good places to purchase gold online, please do post it here :)
Bonnie:
My brother and I own gold and silver through the Perth Mint. Peter Schiff's firm, Euro Pacific Capital, helped us arrange that.
I'm not sure if you listen to Schiff's weekly radio show, but he has been saying that Euro Pacific Capital will begin to sell gold and silver in the near future. He says their price will only be a few percent over the spot price, which is nice.
If you're looking to purchase physical gold and silver, you might try these websites:
kitco.com
caminocompany.com
Camino Company is the late Burt Blumert's company.
I'm not sure if these companies that sell gold and silver have minimum order sizes, but if they do and they are too much, you might consider looking into purchasing gold and silver on the stock market under the tickers GLD and SLV, respectively--at least until you have enough to purchase in physical form.
In any case, if you do decide to purchase physical gold and silver, I'd say the most important thing to keep in mind is the amount of premium the place you are purchasing it from is demanding. That is one nice thing about GLD and SLV, is that there is no premium (although I would not recommend them for longer-term investing).
Good luck!
apmex.com and tulving.com are both good places to buy online
Well gold seems to be one of the safest way of keeping our money. It had a stable growing trend during all the entire financial crisis and it still goes on that trend. I intended to buy American gold coins but before I make this step I need an advise on my investment, I don't want to risk too much with this.
Though most people our age aren't in a position to buy a lot a gold, the alternative has better profits. Silver. Silver can be easily found, whether its, actual bars, coin, perlen, ingots, etc. or by finding old jewelry, solid (watch out for plated) silverware, or whatever.