Gold/Silver Dealers

[Joetul]

Can anyone recommend a local gold / dealer for investment purposes?  I wondered how prices (commissions, etc) compared with those that advertise incessantly on television.

TIA...

[Breadburner]

Gold bonds....

[RecycleMichael]

I bought some coins on Saturday from Tulsa Gold and Silver on 41st street just west of Sheridan.

They seem to have good prices, but I have never sold them any gold or silver.

[heironymouspasparagus]

Can anyone recommend a local gold / dealer for investment purposes?  I wondered how prices (commissions, etc) compared with those that advertise incessantly on television.

TIA...

Whew!!  Investment??  Worst "investment" in the world.  Oh, well....ya gotta do what ya gotta do....

Unless you are going to apply some 'value-added' event like making jewelry or electronics, it is a sucker bet.  That's why KRMG has so many of those 'fly-by-night' ad-men pitching it on their radio station!


http://www.marketwatch.com/story/why-buffet-thinks-investing-in-gold-is-stupid-2013-04-18

http://www.aol.com/article/2015/02/05/gold-worst-investment-history/21138139/

[RecycleMichael]

I respectfully disagree.

Here is a link to the one year chart and the 20 year chart.

https://www.bullionvault.com/gold-price-chart.do

Gold is an excellent investment for the savvy investor. Like every investment, you have to be strategic and lucky.

[heironymouspasparagus]

One would have to move around in it too much and be able to call performance - something few can do.  Even Buffet knows better than that - he buys with the intent to never sell as the starting point.  If ya had say 1,000 ounces bought in 1996, would you have sold in 2012?  Calling the highs and lows....And then would you buy now when it is performing so poorly.  I think it is just as likely to go to 700 as it is to go to 1700 again.  And if oil keeps creeping up to where Saudi wants it to be, then I am betting on lower.

300% since 1996 with an 8 year stint below $400.  If one were able to "pick" the highs and lows it might have been a good short term bet.  But nobody can do that, else we would not need guys like Jim Cramer!!  (LOL....I crack myself up - he is not as good as just following the S&P.)


Compared to about 700% for Buffet since 1996.
https://finance.yahoo.com/echarts?s=BRK-A+Interactive#{%22range%22:%22max%22,%22allowChartStacking%22:true}

Apple - about 12,000% (1996)
https://finance.yahoo.com/echarts?s=AAPL+Interactive#symbol=AAPL;range=my

Even just doing a DOW index would be better at about 315%  -ish.  I know those are fake numbers, but the trend is valid.
http://finance.yahoo.com/echarts?s=%5EDJI+Interactive#symbol=%5EDJI;range=my

Exxon about 350%...about as bad as one could hope for.(1996)
http://finance.yahoo.com/echarts?s=XOM+Interactive#{%22range%22:%22max%22,%22allowChartStacking%22:true}




The big problem with gold is the propaganda and hype behind it and the frenzied nonsense about everything from how important it will be in the future total economic collapse to how we should go back on the gold standard.  And otherwise semi-rational people buy into this.

If ya look at ALL the gold ever mined in the history of the planet, it amounts to somewhere under $6 trillion - depending on a LOT of conjecture about Spanish sunken treasure.  And no one country is ever gonna have all of it at once.  So, either the growth and economic opportunities we have enjoyed since ending the gold standard nonsense just would not exist.  Or inflationary pressures would put the price of gold at tens of thousands per ounce - or more - which would also have the effect of severely limiting our economy (worldwide, not just the US).

And if one buys into the idea that we are gonna go into total economic meltdown and collapse, then gold is again going to be so massively inflated at the same time fewer people will have access to it and fewer will accept it as a medium of exchange, making it nonviable as a medium of exchange.  (I couldn't care less about it - I want green beans, corn, squash, tomatoes, etc and the seeds of same.)

Or if someone was still wanting gold, fine...I will sell them one roll of toilet paper from my stash for one equal weight of gold.  Or one shot of whiskey for one ounce of gold.  Or one bar of Dial gold for an ounce of metal gold.  Better yet, enough copper to make a still so I can create an ongoing 'revenue' stream.  Something of real value for something that glitters and I might be able to pawn off on someone who doesn't know real value....

[Breadburner]

Good lord....

[sauerkraut]

With any economic collapse, you can't eat gold or silver.

[Townsend]

With any economic collapse, you can't eat gold or silver.

Why not?

[Conan71]

With any economic collapse, you can't eat gold or silver.

Shave it pretty thin and it will go down with lots of bourbon.

[godboko71]

With any economic collapse, you can't eat gold or silver.

http://www.serendipity3.com/food.htm

Golden Opulence Sundae
Serendipity 3's Golden Opulence Sundae is made from edible 23-carat gold.

[heironymouspasparagus]

Shave it pretty thin and it will go down with lots of bourbon.

Decoration on cake!!

[TeeDub]

[RecycleMichael]

Whew!!  Investment??  Worst "investment" in the world. 

You are such a good example of what not to do.

Gold was $1,280 when you made this prediction two weeks ago.

Now it is $1,320.

Let's check back in another couple of weeks.

[heironymouspasparagus]

You are such a good example of what not to do.

Gold was $1,280 when you made this prediction two weeks ago.

Now it is $1,320.

Let's check back in another couple of weeks.

Down $10 this morning.  Did you sell it late yesterday?  That's when you would have gotten the benefit....

http://goldprice.org/

Can this be predicted?  Not by any normal economic related means....ALL political and all fear related.

http://www.macrotrends.net/1333/historical-gold-prices-100-year-chart



I guess I just have a different time frame when hearing the word "investment".  A year...2, 3  or more.  Warren Buffet buys and only plans to hold indefinitely - he never buys something planning to ever sell it.  Turned about $10 million into tens of billions by investing.

Two weeks is speculation at best.  More closely resembles gambling.  It's like trying to pick the tops and bottoms of the market.  Nobody can do it.  If anyone could do it, they would already be rich and retired somewhere and not trying to sell a book, or pitch a get rich quick scheme, or have a tv show telling everyone how they can get rich...

Is the goal investing?  Or hedging bets against an apocalyptic collapse of civilization?  Either way, there are better things than gold to do that with.

Oil was a much better play in the last few months.  Gold at $1280 up to $1320 was a 3.125% increase.  VDE (Vanguard Energy ETF) at $78 in Feb/Mar and $91 today is a 17% increase.  And I considered that to be highly speculative, but value driven.  And there is probably more upside to VDE.  It's more "normal" range since 2012 is at or above $100, so won't be surprised to get a little more out of it.  Then, since I consider it extremely speculative, very volatile, and very short term, I am outa there....very soon.