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 supermarket
- shroomery veteran-
 
Registered: 02/20/02
Posts: 2,215
Loc: -N/A-, USA 
Last seen: 29 days, 6 hours
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 Re: Buying Gold Not a Good idea?  [Re: Shins]
#11914715 - 01/27/10 10:58 PM (3 years, 3 months ago) |
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Shins - in urban areas like Chicago, yes, it would effect the idea of cars as a liability, but ONLY if cars didnt decrease drastically in value too. Cars (parking lot) and Houses (lot/property) are hugely different (if that were the case) because a parking lot is a very, very small plot of land (yes, I know,houses in cali are small , but we are talking a PARKING space).
So yea,the value of cars would be a LOT different if,say in chicago, it came with a parking space too. In chicago for instance, you need to pay for parking your car in the street, in a public parking area.
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 Epilson Lyrae
Armed with hammers
Registered: 04/07/09
Posts: 5,555
Loc: Woody Creek
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Re: Buying Gold Not a Good idea? [Re: supermarket]
#11914914 - 01/27/10 11:31 PM (3 years, 3 months ago) |
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So for someone who has a limited income and few assets but wants to buy something in small quantities as finances allow, Would small amounts of silver like the $5 face value silver maples be something worth doing?
Just buying a few a month over a period of time?
Big investments are out of the question for me and I would like to have something to hold onto in the event of the devaluation of the dollar.
Good idea or no?
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"Freedom is something that dies unless it's used." H.T.
I've come to believe that the heart is the filter of the enlightened mind. Epilson Lyrae
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Shins
Fun guy
Registered: 09/15/04
Posts: 11,375
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Yeah silver is sometimes called "poor man's gold" If you have limited funds consider looking around for used gold jewellry at or under spot too, theres some out there but not huge amounts. It takes more time, so it depends on how you value your time, and how effectivly you can find stuff.
I would advise you save up until there is a substantial low in the market if you want to buy coins from a dealer.
Timing makes a big difference to your profit. Some people buy monthly like that, and over time may still average a profit, but the guy who bought at the low, and sold at the high will make the most.
A lot of new investers rush in at a high to be discouraged when the price corrects.
The hard part is predicting where the low is.
PS don't buy silver jewellry unless you are prepared for the lower liquidity.
Coins and gold jewellry are alot more liquid, my local dealer pays fairly for scrap gold jewellry but refuses silver jewellry. They only take flatware, but payout is low.
There are some refiners who pay well for silver jewellry out there though, and may take other metals like copper too.
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Epilson Lyrae
Armed with hammers
Registered: 04/07/09
Posts: 5,555
Loc: Woody Creek
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Re: Buying Gold Not a Good idea? [Re: Shins]
#11915364 - 01/28/10 12:44 AM (3 years, 3 months ago) |
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I would have difficulty distinguishing good gold jewelry from crap or even fake. I know that some have even put a little 18k gold link near the clasp to make it look as if the whole necklace or whatever is of that quality when it's really just junk.
That would be my issue with buying scrap gold. That and knowing what price I could pay and still profit from it.
But thanks for the advice.
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"Freedom is something that dies unless it's used." H.T.
I've come to believe that the heart is the filter of the enlightened mind. Epilson Lyrae
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Groovy Grant
Registered: 08/01/00
Posts: 6,599
Loc: TX
Last seen: 3 months, 20 days
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www.sharebuilder.com
Or purchase shares directly from companies, some companies have direct purchase plans, where there is no trading fee, and you can buy in as small an increment as $50. So you could buy a set amount whenever you have some extra cash, preferably in a dividend producing stock, set up a DRIP, and a few shares here and there with the DRIP over many years, may yield a substantial nest egg.
An estate I was working on recently, the guy had bought some shares with RBC (Royal Bank of Canada) and bought them throughout his life, reinvested the shares for like 60 years, and when he passed away he had nearly $5M in stock, with a dividend stream of almost $180,000 a year... Very nice considering how dividends are treated much differently then "earned income" for federal taxes...
Now I'm not saying he didn't have a ton of money to begin with, but a journey of a 1,000 miles begins with a single step. Make the step.
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<3<3DowntroddenInDC <3<3
<3<3 Texas Jobs <3<3
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Epilson Lyrae
Armed with hammers
Registered: 04/07/09
Posts: 5,555
Loc: Woody Creek
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Re: Buying Gold Not a Good idea? [Re: Groovy Grant]
#11919686 - 01/28/10 07:52 PM (3 years, 3 months ago) |
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Thank you. I bookmarked the link and will start formulating a plan that consists of more than just throwing all of my spare money into a water jug.
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"Freedom is something that dies unless it's used." H.T.
I've come to believe that the heart is the filter of the enlightened mind. Epilson Lyrae
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Yrat
Hello
Registered: 11/08/07
Posts: 2,030
Last seen: 4 hours, 9 seconds
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buying gold is a bad idea, hold off on it!
that'll keep the price lower longer, letting me to stockpile more for less 
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"There are a thousand hacking at the branches of evil
to one who is striking at the root."
-Henry David Thoreau
Strike The Root
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