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Won some gold

Discussion in 'Stocks, Investments & Finances' started by texasrho83, Jan 20, 2024.

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  1. Jan 20, 2024 at 5:12 PM
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    texasrho83

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    texasrho83 [OP] Old Member

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    I won some gold the other day and was curious about investing spare cash/savings into it. I did a little reading and rather than store the physical aspect of it (bullion), people invest in ETFs to offset storage costs, security factor, etc.

    Does anyone have any advice on this sorta stuff? Talk to me like I'm the 3rd grade special ed student in my classes.
     
    texasrho83, Jan 20, 2024
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  2. Jan 20, 2024 at 5:18 PM
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    Outbound

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    Outbound SSEM #2.5, AmeriCanadian, OG 1st Gen Rabble Member

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    I'm not an expert, but have looked into it a bit.

    Gold isn't really an investment per say. It's a store of wealth should inflation run rampant or the monetary system fail in some way. You'll get far better returns on your investment dollars by buying stocks, bonds etc. Having some gold on hand is never a bad idea imho as long as your other savings and investments are on point and won't suffer by you diverting money to gold.

    I would also never buy gold I couldn't phsyically put in my safe, but I have trust issues.
     
    Outbound, Jan 20, 2024
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  3. Jan 20, 2024 at 5:22 PM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Well, yeah I agree on the store of wealth/funds. If/When the dollar collapses, the numerical value of what's in a checking account won't be worth squat. Also, should a revolution occur in the near/not-so-near future, ATMs, etc, won't be around to pull funds. Sitting on a sum of actual currency still worth something could be very handy.
     
    texasrho83, Jan 20, 2024
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  4. Jan 20, 2024 at 5:27 PM
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    Outbound

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    Outbound SSEM #2.5, AmeriCanadian, OG 1st Gen Rabble Member

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    Absolutely. Historically, gold was used by people fleeing hostile regions (Jews during WW2 for example). Having smaller denominations, or jewelry would be useful in that situation. Gold is still useful in 3rd world countries and failed nations like Venezuela.

    In a real SHTF scenario where it's total economic collapse, it likely won't be useful for much other than once rebuilding starts. I can't feed my kid with a gold bar. Your box of ammo, can of beans or tube of Polysporin is worth way more than your 1oz bar of gold to me in that situation.
     
    Outbound, Jan 20, 2024
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  5. Jan 20, 2024 at 5:27 PM
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    Patch999

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    Patch999 SSEM #17 You are what you do when it counts

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    What do I know. I dump my cash in truck parts that I say I’ll put on at some point.
     
    Patch999, Jan 20, 2024
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  6. Jan 20, 2024 at 5:31 PM
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    texasrho83

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    texasrho83 [OP] Old Member

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    :rofl:

    Truck parts is the real mother lode
     
    texasrho83, Jan 20, 2024
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  7. Jan 21, 2024 at 6:05 AM
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    Outbound

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    @LarryDangerfield is our resident financial expert. Perhaps he has some opinions.
     
    Outbound, Jan 21, 2024
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  8. Jan 21, 2024 at 6:35 AM
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    ColoradoTJ

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    ColoradoTJ Certified tow LEO Staff Member

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    Commodities is an insurance policy. Now long haul it could be considered an investment, but that's only if you buy and sell.

    A person can carry a lot of gold vs silver.

    For instance:

    This is a tad over 220k in gold.
    IMG_3302.jpg

    This is 678k in gold:

    IMG_3301.jpg

    To have the same worth in silver one would need a truck.
     
    ColoradoTJ, Jan 21, 2024
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  9. Jan 21, 2024 at 6:38 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    I've been loading up in silver primarily. American Eagles, Mexican Libertads, Canadian Silver Maples, Australian Silver Kangaroos, UK Britannias, various bullion rounds and bars. The largest I have is in 10 ounce silver bars and smallest are divisible 1 ounce rounds. Gold is another story. True, one ounce gold stackers and up can get quite expensive. Perfect as a hedge for when SHTF and it will in my opinion. Also...25% of any portfolio should be hedged with physical gold and silver. Many folks can afford 100 ounce gold and 1000 ounce silver vault bars. Money Metals Exchange in Idaho offers low cost vault bar storage for those that don't have the space or simply don't want to have that risk in their home. When SHTF, gold and silver has always been used to barter with to get everyday items. Silver was always easier to barter with than gold, until now. Check out Goldbacks.com. I've been buying up Goldbacks in various denominations. Many businesses are already accepting these in certain states. Yes you can buy TP with them. The smallest Goldback denomination is equal to 1/1000th of the current value of a $50 Gold Eagle produced by the US Mint. I bought a lot of Goldbacks when they came out in 2019 for $3.46 per Goldback. Today one Goldback is worth close to $4! Do the math. Goldbacks are a very affordable way to buy actual gold. I would call Money Metals Exchange in Idaho. Very legit. They will provide you with lots of info and will respond according to your needs
     
    Last edited: Jan 21, 2024
    Black Wolf, Jan 21, 2024
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  10. Jan 21, 2024 at 6:56 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    One of my tubes of 20 Silver Eagles...

    20240121_075452.jpg
     
    Black Wolf, Jan 21, 2024
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  11. Jan 21, 2024 at 7:21 AM
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    ColoradoTJ

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    Nice! :thumbsup:
     
    ColoradoTJ, Jan 21, 2024
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  12. Jan 21, 2024 at 7:27 AM
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    ColoradoTJ

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    ColoradoTJ Certified tow LEO Staff Member

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    Agreed and good input.
     
    ColoradoTJ, Jan 21, 2024
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  13. Jan 21, 2024 at 7:41 AM
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    windblown101

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    windblown101 New Member

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    Keeping a stash of Gold & silver around is like a squirrel hording nuts they'll never get around to eating. Yeah, I have a some. LOL

    Nuts that is...
     
    windblown101, Jan 21, 2024
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  14. Jan 21, 2024 at 7:43 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Thanks for the info, Matt.
    goldbacks.com is :redxfall: is there another site?

    During my small amount of research, I read about 2 things to avoid: leveraged gold ETFs — these use financial derivatives and borrowed money to make bets on future price movements, and gold exchange-traded notes. ETNs are secured debt obligations that don’t actually own the underlying gold (unlike ETFs) and have a greater risk of credit default.

    I recall the sort of recent bank scare when people lost faith in their banks and went to retrieve their money. They were met with resistance when it came to putting their own money in their hands. I highly prefer the idea of holding onto tangible currency but I'm also not to the point of hording $60k in cash like my Uncle did in his RV (a burglary at my dad's house next door has him skittish on that option now).
     
    texasrho83, Jan 21, 2024
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  15. Jan 21, 2024 at 7:44 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    :eek2:
     
    texasrho83, Jan 21, 2024
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  16. Jan 21, 2024 at 7:46 AM
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    T-Rex266

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    T-Rex266 Owner, CTO and executive chairman of X Staff Member

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    I literally thought that was a vape at first :facepalm:
     
    T-Rex266, Jan 21, 2024
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  17. Jan 21, 2024 at 7:48 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    https://www.goldback.com/


    BTW, where's that RV parked at?
     
    Black Wolf, Jan 21, 2024
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  18. Jan 21, 2024 at 7:49 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    Naw, not into vaping....
    [​IMG]
     
    Black Wolf, Jan 21, 2024
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  19. Jan 21, 2024 at 7:49 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Next to my Dad's and very heavily defended with new cameras and new guns. I think my Dad is currently taking bids from contractors who know how to build turrets....
     
    texasrho83, Jan 21, 2024
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  20. Jan 21, 2024 at 7:51 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    nevermind then...movin along.....
     
    Black Wolf, Jan 21, 2024
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  21. Jan 21, 2024 at 7:53 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    Black Wolf, Jan 21, 2024
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  22. Jan 21, 2024 at 7:53 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    Black Wolf, Jan 21, 2024
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  23. Jan 21, 2024 at 7:54 AM
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    ColoradoTJ

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    Right? I could use a stack of those golden eagles. :D
     
    ColoradoTJ, Jan 21, 2024
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  24. Jan 21, 2024 at 7:57 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Already looking at the truck parts I could buy......
     
    texasrho83, Jan 21, 2024
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  25. Jan 21, 2024 at 7:58 AM
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    T-Rex266

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    :fistbump:
     
    T-Rex266, Jan 21, 2024
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  26. Jan 21, 2024 at 8:02 AM
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    Black Wolf

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    Black Wolf Chillin' in Alamosa

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    Goldbacks.......even easier

    [​IMG]
     
    Black Wolf, Jan 21, 2024
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  27. Jan 21, 2024 at 8:14 AM
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    Danimal86

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    Danimal86, Jan 21, 2024
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  28. Jan 21, 2024 at 8:16 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Reading reviews about them right now...
     
    texasrho83, Jan 21, 2024
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  29. Jan 21, 2024 at 8:16 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    texasrho83, Jan 21, 2024
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  30. Jan 21, 2024 at 8:18 AM
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    texasrho83

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    texasrho83 [OP] Old Member

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    Spent $20. Won $326.

    PXL_20240121_005053540.MP.jpg PXL_20240121_010022177.MP.jpg
     
    texasrho83, Jan 21, 2024
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