Home | Community | Message Board

Kratom Eye
This site includes paid links. Please support our sponsors.


Welcome to the Shroomery Message Board! You are experiencing a small sample of what the site has to offer. Please login or register to post messages and view our exclusive members-only content. You'll gain access to additional forums, file attachments, board customizations, encrypted private messages, and much more!

Shop: Unfolding Nature Unfolding Nature: Being in the Implicate Order   Bridgetown Botanicals Bridgetown Botanicals   PhytoExtractum Buy Bali Kratom Powder   Kraken Kratom Red Vein Kratom

Jump to first unread post Pages: < Back | 1 | 2 | 3 | 4 | 5 | Next >  [ show all ]
Offlinedaimyo
Monticello

Registered: 05/13/04
Posts: 7,751
Last seen: 12 years, 1 month
Re: Buying gold [Re: Corporal Kielbasa] * 1
    #6086625 - 09/21/06 01:26 PM (17 years, 6 months ago)

Gold is good. Been buying for 4-5 years now. Started when it was around $250/oz. Like elsig, I collect anything gold. Estate sales, pawn shops, crackheads or people that are just down on their luck. Get it however you can.

There's often full page ads in the back of the business section talking about how gold will go close to $2000/oz. I'm not banking on it, but I wouldn't mind.
I mostly buy it because I know, no matter what, it will be worth something. That and I can see disaster striking the US before long and paper/plastic won't be worth a fuck.


--------------------
"I have sworn upon the altar of God eternal hostility against every form of tyranny over the mind of man."

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: daimyo] * 1
    #6086682 - 09/21/06 01:42 PM (17 years, 6 months ago)

I've just visited the Royal Canadian Mint and I saw a nice item to start out on, for whoever wants to:

Quote:

2006 1/25 Ounce Gold Coin-Cowboy
$79.95 CAN #620096 
The third coin in this series of the smallest pure gold coins the Royal Canadian Mint has ever issued!
Our smallest pure gold coin packs all the grandeur of the untamed frontier.
Its diminutive proportions alone are a numismatic delight as the 2006 1/25 Ounce Gold Coin celebrates a character that’s larger-than-life - the cowboy. This adventurous soul was the backbone of the cattle ranches that settled the West during the last two centuries. And, despite modern technology, many of his tasks remain unchanged.
This coin is struck in 99.99% pure gold and is expertly crafted in proof finish. And, as one of the smallest pure gold coins issued to date, it’s expected to be popular with collectors. The previous two issues quickly sold out and with its mintage of just 25,000 coins worldwide, you’ll want to order yours right away!
.
Coin specifications
Mintage: 25,000
Composition: 99.99% pure gold
Finish: proof
Weight (g): 1.27
Diameter (mm): 13.92
Edge: serrated
Certificate: serialized
Face value: 50¢
Artist: Michelle Grant






A 1/25oz coin of 99.99% gold for (in US dollars) $71.50

Its a nice barter size and can pass the GI tract for when the going gets rough :crazy:


--------------------
Omnicyclion.org
higher knowledge starts here

Edited by Asante (09/21/06 01:45 PM)

Extras: Filter Print Post Top
OfflineKonnrade
↑↑↓↓<--><-->BA
Male User Gallery

Folding@home Statistics
Registered: 09/13/05
Posts: 13,833
Loc: LA Suburbs
Last seen: 10 months, 23 days
Re: Buying gold [Re: daimyo] * 1
    #6086683 - 09/21/06 01:43 PM (17 years, 6 months ago)

plastic might still have value in areas that have the infrastructure for it.

credit card companies are international.


--------------------

I find your lack of faith disturbing

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: Konnrade] * 1
    #6086698 - 09/21/06 01:48 PM (17 years, 6 months ago)

Quote:

plastic might still have value in areas that have the infrastructure for it.





Plastic isn't presidentproof.

If some nut gets elected who decrees: "from this day on an automatic tax of 20% will be in effect on all transactions" then all money thats merely a bunch of numbers in a computer, is affected. Your number, which you worked so hard for, is cut down in that bank computer and there is nothing you can doo. You just lost 20% of your life savings.

But not Daimyo's watch, which will be worth more because people will wake up from the plastic dream to return to the age of bartering and haggling.


--------------------
Omnicyclion.org
higher knowledge starts here

Edited by Asante (09/21/06 01:49 PM)

Extras: Filter Print Post Top
OfflineKonnrade
↑↑↓↓<--><-->BA
Male User Gallery

Folding@home Statistics
Registered: 09/13/05
Posts: 13,833
Loc: LA Suburbs
Last seen: 10 months, 23 days
Re: Buying gold [Re: Asante] * 1
    #6086756 - 09/21/06 01:58 PM (17 years, 6 months ago)

well, cutting the money out of circulation and into government coffers might help combat inflation.

At least I think it might, I don't remember my economics classes very well.

If the government actually used the revenue to pay off national debt, I wouldn't mind a COUPLE percent tax on credit card transactions.


--------------------

I find your lack of faith disturbing

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: Asante] * 1
    #6086772 - 09/21/06 02:01 PM (17 years, 6 months ago)

On a large scale this happens in Africa. In many poorer regions, the majority of workers earn less than one dollar a day.

So a one Euro coin



like this one (worth $1.25) can feed a family for a day or can be used to save for a rainy day, and this independent of the country's economy which is important in a country where usually your money devaluates at 10-20% per year.

Many families there have a small treasure chest with some jewelry and, for instance, euro coins and bills.

The same holds true for us in the west. We are used to economic prosperity, but imagine the economy going south, really south, and your money losing half its value?

Your gold will be unaffected and even will become more valuable, as suddenly "everybody" wants to get their hands on it.


--------------------
Omnicyclion.org
higher knowledge starts here

Extras: Filter Print Post Top
OfflineSchwip
Never sleeps.
 User Gallery

Registered: 06/27/05
Posts: 3,937
Last seen: 11 years, 4 months
Re: Buying gold [Re: Corporal Kielbasa] * 1
    #6086777 - 09/21/06 02:02 PM (17 years, 6 months ago)

Quote:

Corporal Kielbasa said:
Quote:

Schwip said:
coins are the way to go...

you got bullion value on top of numismatic value then :smile:




whats bullion and numismatic value mean if you wouldn't mind expaining?



Zippoz yeah i know.  If it goes down to 400 or so i would think about it more.




bullion value is the price per troy ounce that we have been quoting in this thread

numismatic value is collector value....as in the rarity of the coin


--------------------
--------------------------------

" If the sky were to suddenly open up there would be no law. There would be no rule. There would only be you and your memories... the choices you've made, and the people you've touched. If this world were to end there would only be you and him and no-one else. "

..............

"MAN! You know there aint no such thing as left over crack!"


Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: Schwip] * 1
    #6086848 - 09/21/06 02:22 PM (17 years, 6 months ago)

*drools*

THIS is the works!





A 35 gram coin of 99.999% pure gold, the highest mint purity standard in the world. Worth about $1.400 US, and looks like something you hope to find at the end of a rainbow :smirk:


--------------------
Omnicyclion.org
higher knowledge starts here

Extras: Filter Print Post Top
InvisibleJellric
altered statesman

Registered: 11/07/98
Posts: 2,261
Loc: non-local
Re: Buying gold [Re: Corporal Kielbasa] * 1
    #6086873 - 09/21/06 02:27 PM (17 years, 6 months ago)

Gold is good, but more money can be made on silver.

Gold peaked at 850$ in 1980.
That is about 2000$ in 2006 dollars.

Silver peaked at 50$ in 1980.
That is about 130$ in 2006 dollars.

Gold is currently about 600$/oz.
Silver is about 11$/oz.

In order to reach 1980 price levels gold would multiply by a factor of 3.3 giving you a healthy profit of 230 percent- very nice.

But to reach the same 1980 levels silver would multiply by a factor of 11.8 leaving you with a whopping 1080 percent profit!

Which profit would you prefer?

Personally, I'm going with silver and have begun purchasing silver coins- practically stealing them at these low prices.

Whatever you do I would recommend buying in the form of coins and avoiding numismatic coins. You are paying a premium there for rarity and the market is prone to con men. My Dad got ripped off by one and was fortunate to get his money back about ten years later.

One drawback of silver is its weight. An equal value of silver to gold weighs much more which can make portability and storage an issue depending upon how much you are buying.

When the dollar collapses (and it surely will as every other unbacked currency in history has) you will be able to use the coins as money. If all you have is gold coins you may find yourself paying 600$ for something that costs 200$. If you have silver coins you won't have that problem.

So do buy yourself some gold, but don't neglect silver.

As for myself I buy 3/4 of my coin purchases in silver and the rest in gold. So I'm covered either way.


--------------------
I AM what Willis was talkin' bout.

Extras: Filter Print Post Top
InvisibleCorporal Kielbasa

Registered: 05/29/04
Posts: 17,235
Re: Buying gold [Re: Jellric] * 1
    #6086904 - 09/21/06 02:34 PM (17 years, 6 months ago)

Wow you know i am really glad i started this thread. You guys are a wealth of information! I have learned a lot from this, and for that i thank you all!

Extras: Filter Print Post Top
OfflinegeokillsA
∙∙∙∙☼ º¿° ☼∙∙∙∙
Male User Gallery

Registered: 05/08/01
Posts: 23,563
Loc: city of angels Flag
Last seen: 22 hours, 7 minutes
Re: Buying gold [Re: Asante] * 1
    #6087077 - 09/21/06 03:19 PM (17 years, 6 months ago)

Quote:

Wiccan_Seeker said:

If you have a cash surplus I'd say it would be wise to take part of that surplus and convert it into something of inherent value.
Silver, Gold, Palladium, Platinum, Sapphires, Rubies, Diamonds.
This would be good to have even if it didn't yield you a profit, but if you can afford to wait, value tends to increase.




I agree, profit should not be the motive here.  Gold is NOT meant to be an investment.  Of course, many people try to play it that way - but in my opinion, it is extremely hard to make the same type of returns through playing in gold, when compared to the traditional stock market and especially real estate.

Gold is simply a way to diversify your assets, protecting yourself from rapid inflation on account of a country's rising debt and/or the dilution of its paper value due to printing too much.  Historically speaking, gold is a fantastic way to protect your assets, as it has been held as one of the world's primary methods of wealth transfer in the marketplaces across many centuries and civilizations.  This is in contrast to the fact that all paper money has devalued and in most cases, become entirely worthless in the long run. 

If you insist on playing gold as an investment, I would buy some right now, perhaps 25 - 45 % of your position depending upon your own risk tolerance.  I would continue buying over the next few months.  Gold had a strong run-up in value over the past year, and recently over the summer has given back a good ~15% (estimated on the fly) of its recent gains.  The Federal Reserve of the United States today maintained their stay at 5.25% on the overnight interest rate for the second time (after apx three years of continuous hikes). 

With economic indicators implying that that inflation and economic growth is moderating, it is fairly likely that the Fed will begin to cut interest rates by the end of the year, or in early 2007.  As interest rates come down, the value of the dollar tends to fall as well.  When the value of the dollar falls, many investors will tend to move into gold for its relative stability.  Therefore, it would seem that right now is a fairly good time to start buying gold.  But really, in my opinion gold is for wealth preservation, and not for investing for profit.

As a general rule with any investment, maintain diversification!  Do not put all your eggs in one basket.  If you are considering buying gold with money you do not need, for example if you plan to preserve assets in gold for your children to inheret after you die, by all means soak it up right quick.  But if you are playing as a relatively short-term investor (if you are planning to sell your gold to make a profit), buy incrementally and DO NOT buy all at once.  Also to touch upon zippoz recommendation above, if you have enough money to buy a house - DO THAT FIRST!  That will be the single best investment you can make, even in a market that is so paranoid about a glut of housing which will result in declining value.  Housing is moderating, no question about it, but it will continue to rise.  If you can afford it, a house will be your best investment.  Just don't get caught in a squeeze on an interest only loan.  Be honest with yourself and if you cannot afford a house, don't take the risk.. yet!

Good luck.

PS.  If anyone wants to play a position in the stock market right now and willing to go long on a position for about one year, I would suggest picking up some Google (GOOG).  It is trading around 1X anticipated 2007 earnings - and as the year comes to a close, many large fund managers will start to buy stocks that are trading at 1X growth or lower.  A company like google, with something like a 36% growth rate, may look expensive at $400 a share.  But given that it's price to earnings ratio for next year is only 32X, you can see that it is trading below its growth rate, which in fact makes it quite cheap!  There is a very good chance Google's stock will hit $500 in 2007 (a 25% gain in a year or less).  I'm in it, are you? :grin:


--------------------

--------------------
··∙   long live the shroomery  ∙··
...π╥ ╥π...

Edited by geokills (09/21/06 03:26 PM)

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: geokills] * 1
    #6087353 - 09/21/06 04:34 PM (17 years, 6 months ago)

How about a finance and investment forum?
No, really :sun:


--------------------
Omnicyclion.org
higher knowledge starts here

Extras: Filter Print Post Top
OfflineSchwip
Never sleeps.
 User Gallery

Registered: 06/27/05
Posts: 3,937
Last seen: 11 years, 4 months
Re: Buying gold [Re: Asante] * 1
    #6087355 - 09/21/06 04:36 PM (17 years, 6 months ago)

we could all act as a consortium and help each other get rich :smile:


--------------------
--------------------------------

" If the sky were to suddenly open up there would be no law. There would be no rule. There would only be you and your memories... the choices you've made, and the people you've touched. If this world were to end there would only be you and him and no-one else. "

..............

"MAN! You know there aint no such thing as left over crack!"


Extras: Filter Print Post Top
InvisiblePrisoner#1
Even Dumber ThanAdvertized!
 User Gallery

Registered: 01/22/03
Posts: 193,665
Loc: Pvt. Pubfag NutSuck
Re: Buying gold [Re: Corporal Kielbasa] * 1
    #6087363 - 09/21/06 04:39 PM (17 years, 6 months ago)

Quote:

Corporal Kielbasa said:
I heard on the radio gold could possibly go up to 1000 an ounce. Right now its at 600 or so dollars.




it could go back down to 300

Extras: Filter Print Post Top
OfflinegeokillsA
∙∙∙∙☼ º¿° ☼∙∙∙∙
Male User Gallery

Registered: 05/08/01
Posts: 23,563
Loc: city of angels Flag
Last seen: 22 hours, 7 minutes
Re: Buying gold [Re: Asante] * 1
    #6087472 - 09/21/06 05:20 PM (17 years, 6 months ago)

Quote:

Wiccan_Seeker said:
How about a finance and investment forum?
No, really :sun:


While I would be thrilled to see an active investment forum here, I believe that only an extremely small portion of the membership here is in a position to actively and responsibly moniter their own investments.  It's easy to spout off at the keyboard, just as it's easy to buy into someone else's hype.  But specific to stocks (as that is what I have the most experience with), the only way you're going to beat the market is by putting in your own time and research. Keeping up with the ongoing trends of the sectors in which you invest, as well as individual company news, and even global macroeconomics and geopolitical risks.  I know that I have a hard enough time keeping up with my own investments, let alone commenting on other's.  It's been over a year now of learning experience, and I am only starting to get a grasp on how emotionally frail most investors are, as a result how volatile the markets have become, and therefore how flexible one MUST be in order to make any money in them.  I'm proud to say not that I have made heaps of cash (yet!), but that I haven't lost anything! 

Composing the above post about gold, housing, and google took me the better part of an hour.  Fortunately my tax man rescheduled a meeting we had for today or I would not have been able to contribute such comprehensive thoughts.  Likewise, a finance and investment forum, while interesting - I do not believe would garner the amount of quality information one would need to be able to utilize it as a legitimate resource.  Simply stated, professional and even serious amateur investors such as myself won't have a lot of time to coach others, answer questions, and teach... and therefore, the forum would likely be completely overrun with rampant speculation.. which will do significantly more harm than good I'm afraid.

If you want to learn about the stock market, sign up with one of the online brokerages (ameritrade, etrade, scottrade, etc), they offer fairly comprehensive analytical tools, including streaming news articles and analyst reports (FYI, I would rarely ever invest upon an wall street analyst's recommendations, they are almost always late to the party and just plain wrong - but they will give you clues which are often enough directly counterintuitive to the specific recommendations they make).  For an aspiring stock investor, consider visiting the following sites:
Recommended Reading:

If you're serious about playing the markets, be flexible, buy incrementally (never all at once), concentrate on your exit strategy (you won't make a dime if all you do is BUY and never think about SELLING), and above all else stay in the game.  The market is quite volatile, and only after gaining experience over the long term are you likely to be able to crunch out serious gains.  Thus far my best play has been GameStop, a video game retailer that merged with Electronics Boutique last year.  Since XBOX 360 came out, obviously people will be buying more video game software; likewise with the upcomming launch of Sony's PS3, even more video games will hit the market.  I've been in GameStop (GME) for about one year and have seen a 45% return on my investment.  Had I not been a total noob when I started, I would have incrementally sold at the peaks, and re-purchased on the dips, to grind out an even greater return.  At this point, I would not recommend buying GME, even though my intention is to hold on to it upto 6 months after the release of the PS3.  The good run has been made, any subsequent gains will most likely pale in comparison. 

What I would strongly recommend, if anyone cares, is to buy Google at $400/share or lower, and sell it near $500.  Just remember that if you buy it that you ought to read the related news for Google's operations, their expectations, sit in on their quarterly conference calls and read the quarterly reports in their entirety.  Pay attention to the P/E estimate on 2007 earnings.  If for some reason google reports next quarter that their ad business (the core of their revenue) has experienced a sharp decline, you must account for the subsequently reduced P/E multiple that buyers are going to be willing to pay, and realize that due to the new information, the stock indeed may not hit $500.  You must know that markets are very dynamic, the buy and hold strategy doesn't seem as fruitful with the way the markets move these days as it would have twenty years ago.  So if you're planning to get in, stay in, and stay active!


--------------------

--------------------
··∙   long live the shroomery  ∙··
...π╥ ╥π...

Extras: Filter Print Post Top
InvisibleCorporal Kielbasa

Registered: 05/29/04
Posts: 17,235
Re: Buying gold [Re: geokills] * 1
    #6087534 - 09/21/06 05:36 PM (17 years, 6 months ago)

I wish i new more and figured out how to work it the stocks. Cuz i am tired of paying people to do it for me.

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: Corporal Kielbasa] * 1
    #6087639 - 09/21/06 06:03 PM (17 years, 6 months ago)

An interesting thing I just found is GoldMoney Basically this is an online banking method where the sum you deposit gets turned into its weight in gold or silver, in a UK vault insured by Lloyds of London.

The gold physically exists and is yours alone, but you get all the advatages of online banking such as quick transactions should you want to buy/sell. You basically have a Fort Knox for your private economy :sun:

I found it reading a Dutch article that speculated that gold may perhaps only be warming up, the price of oil and gold having always correlated in the past.

Sounds interesting :smile:


--------------------
Omnicyclion.org
higher knowledge starts here

Edited by Asante (09/21/06 06:03 PM)

Extras: Filter Print Post Top
InvisibleAsante
Omnicyclion prophet
Male User Gallery

Registered: 02/06/02
Posts: 87,291
Re: Buying gold [Re: Asante] * 1
    #6090934 - 09/22/06 04:39 PM (17 years, 6 months ago)

I've been looking into this some more, and the more I did, the more I became charmed by the 1oz Gold Maple Leaf bullion coin.





This coin is a Troy Ounce (31.1gr) of 24 carat, 99.99% pure gold, and because it is a bullion coin it is sold close to the current market value of gold, meaning this 1.5 inch coin these days goes at around $600 US.

When you check gold on some index, you see the figure this coin (or any troz of fine gold) currently is worth.

Basically its a 1 troz nugget of gold, but unlike a nugget it is stamped to be a coin, meaning it's not just feingold, but also a coin with collectors value, and its weight and purity is guaranteed by the Royal Canadian Mint.

For most shroomerites with a buck to spare, gold coins would be les economically discouraging than 1 kilo slabs, not to speak of the 12.5kg/industrial ingot :wink:

If you look at gold as an investment/value preservation then the canadian Gold Maple Leaf is the most universally accepted standard, and a highly compact means of storing monetary value, 600 US dollars in a 31gr coin measuring 1 1/2 inch across. When it's down to survival level, one such coin gets you by for at least a month in the US, or a whole year in a third world nation.

I just chatted with an online friend who told me inflation in his country often was around 20%. Depressing! If you have 10 dollars now and dont spend it in 2006, it will probably worth less than 5 dollars in 2010. Under those conditions there's very little one can do, investing in owning Euros, Yen or dollars, or precious metals is one of the few things you can do to preserve wealth. Developing world banking can be bad even if you have the cash.

If you want to invest in silver, the 1kg 99.9% pure bar is the trade standard, and a 1kg bar would fetch some $333 US, as well as being a cool paperweight :wink:


These are 1 troy ounce (31.1gr) coins of 99.9% pure "fine silver". This is a much desired bullion coin, currently fetching $17.50 apiece, affordable to most here. They are about 1.5x their silver value, but to compensate that they are very collectable and value tends to age well with these. The Silver Panda and Gold panda are the mainstays of passively securing modern asian private capital, and are one of the prefered coins when investing in bullion silver coins.

This is the most capitalist post I ever made :ooo:


--------------------
Omnicyclion.org
higher knowledge starts here

Edited by Asante (09/22/06 05:15 PM)

Extras: Filter Print Post Top
InvisibleCorporal Kielbasa

Registered: 05/29/04
Posts: 17,235
Re: Buying gold [Re: Asante] * 1
    #6091086 - 09/22/06 05:35 PM (17 years, 6 months ago)

gonna call you the bullion hound.

That was a good post.  Thanks for being into this! :shineon:  :thumbup:

Extras: Filter Print Post Top
Invisiblerod
Ψ
 User Gallery

Registered: 06/29/05
Posts: 3,727
Re: Buying gold [Re: Asante] * 1
    #6091110 - 09/22/06 05:44 PM (17 years, 6 months ago)

remember the Hunt brothers, back in the 1980,s trying to buy up all the silver?
http://www.gold-eagle.com/editorials_04/laborde012704.html

Extras: Filter Print Post Top
Jump to top Pages: < Back | 1 | 2 | 3 | 4 | 5 | Next >  [ show all ]

Shop: Unfolding Nature Unfolding Nature: Being in the Implicate Order   Bridgetown Botanicals Bridgetown Botanicals   PhytoExtractum Buy Bali Kratom Powder   Kraken Kratom Red Vein Kratom


Similar ThreadsPosterViewsRepliesLast post
* STOCKS - An Intro Tutorial & Ongoing Discussion
( 1 2 3 4 ... 291 292 )
geokillsA 297,607 5,833 03/27/24 06:31 AM
by The Blind Ass
* Yield Farming yeah 440 3 06/07/21 04:32 PM
by yeah
* Cryptocurrency: A Discussion on Bitcoin, Ethereum and Related Projects
( 1 2 3 4 ... 508 509 )
geokillsA 252,680 10,172 03/27/24 11:59 AM
by budmanman
* Shit coin investment thread, low volume high risk high reward coins
( 1 2 3 4 5 6 7 8 9 all )
sh4d0ws 5,411 164 11/23/21 07:50 PM
by budmanman

Extra information
You cannot start new topics / You cannot reply to topics
HTML is disabled / BBCode is enabled
Moderator: geokills, automan
16,914 topic views. 0 members, 1 guests and 3 web crawlers are browsing this forum.
[ Show Images Only | Sort by Score | Print Topic ]
Search this thread:

Copyright 1997-2024 Mind Media. Some rights reserved.

Generated in 0.03 seconds spending 0.008 seconds on 15 queries.