Does anyone buy physical gold for investment?

Fellas I just stay the course. Did start taking distributions 3-4 months ago. But balance is still above investment big time. My son has done well on his own so we have been been in a spending mode.
One thing I have learned a man needs to enjoy his time here, I intend on it! Had a Widow Maker heart attack this past March. Doc said I was a lucky , man.

Need to add I haven't been employed since 2012, u just need to plan when u are a younger man.
 
RBB said:
Fellas I just stay the course. Did start taking distributions 3-4 months ago. But balance is still above investment big time. My son has done well on his own so we have been been in a spending mode.
One thing I have learned a man needs to enjoy his time here, I intend on it! Had a Widow Maker heart attack this past March. Doc said I was a lucky , man.

Need to add I haven't been employed since 2012, u just need to plan when u are a younger man.
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@RBB I'd say you're a lucky man - many save, save, save and don't make it to retirement.
 
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Wanderer, I'll keep watching this post to see what you find out. Thanks.

RBB said:
Need to add I haven't been employed since 2012, u just need to plan when u are a younger man.
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I agree 1,000%. In the mid-80's I knew a guy who was an investment officer at one of the local banks. He tried to get me to open an account with a mutual fund company and just put in a regular amount every month.

I didn't know what a mutual fund was, didn't know how they work, didn't understand the time value of money.

I now wish he was a better instructor, not so much a salesman.
 
RBB said:
Fellas I just stay the course. Did start taking distributions 3-4 months ago. But balance is still above investment big time. My son has done well on his own so we have been been in a spending mode.
One thing I have learned a man needs to enjoy his time here, I intend on it! Had a Widow Maker heart attack this past March. Doc said I was a lucky , man.

Need to add I haven't been employed since 2012, u just need to plan when u are a younger man.
Click to expand...
About 10years ago I went in for a complete checkup. Something I hadn't done in the past regularly, I was never sick, didn't see the need I guess. The Dr gave me a stress test, I barely got started and he said 'somethings wrong'. Come to find out I had a 99% blockage of the 'Widow Maker' and another about 80%. In went some stents.

My Dad warned me years before...'lot's of folks want to retire early and take it easy...then their pipes start rustin' and plug up.':)
 
Woody said:
About 10years ago I went in for a complete checkup. Something I hadn't done in the past regularly, I was never sick, didn't see the need I guess. The Dr gave me a stress test, I barely got started and he said 'somethings wrong'. Come to find out I had a 99% blockage of the 'Widow Maker' and another about 80%. In went some stents.

My Dad warned me years before...'lot's of folks want to retire early and take it easy...then their pipes start rustin' and plug up.':)
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I would say that check up saved your life sir. Doc told me a was 100% blocked on the widow maker and 80% on a branch. I will never forget the gals look in emergency room when she got the EKG hooked up. Her eye's go wide open and she tells the Doc he is having a heart attack. 10 minutes later Iam in cath lab.
 
I have a few Prospector one ounce silver coins that I bought back the the mid-eighties. Have not made that much on them yet.
 
Gold in 1987 was $486, today $1780.
Dow in 1987 was $2700 until 20% drop,
Today $35k
Problem with the market is some stocks go up a lot and some dtocks don’t.. so gold is recognized as a safe haven.
The point is save and invest. Gold and well researched blue chips.
My money is split 50/50.
And I have a lot of copper. Pennies though.
 
I consulted my good friend Google today and here's what I learned.

The cost of an ounce of gold in Euros today: 1575.28
Converting that to US Dollars equates to: 1781.40
Selling price of gold (spot price) in US dollars: 1777.81

So, not factoring in any travel or entertainment costs, if I mystically arrived in Europe and bought 10ounces of gold my outlay would be $17,814.00US. If I brought that back to the US and didn't get busted by US Customs for carrying too much money, then sold that gold in the US, I would net $17,781 for a whopping gain of -$33.00 US.

I may not be the brightest bulb in the harbor but that doesn't seem like a good deal. :confused:
 
Doesn’t make any sense to me either.


Plus, no one tracks the purchase of gold in the US, so why bother.

you guys know you can trade (buy and sell) gold for spot+premium on Reddit.com. It’s much more lucrative than taking the gold to a gold dealer.
 
Gofirstclass said:
I consulted my good friend Google today and here's what I learned.

The cost of an ounce of gold in Euros today: 1575.28
Converting that to US Dollars equates to: 1781.40
Selling price of gold (spot price) in US dollars: 1777.81

So, not factoring in any travel or entertainment costs, if I mystically arrived in Europe and bought 10ounces of gold my outlay would be $17,814.00US. If I brought that back to the US and didn't get busted by US Customs for carrying too much money, then sold that gold in the US, I would net $17,781 for a whopping gain of -$33.00 US.

I may not be the brightest bulb in the harbor but that doesn't seem like a good deal. :confused:
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There is a difference in spot price and price shipped and delivered in the US?
 
Everyone at my marina has a 'Guy'. Their 'Guy' takes care of all this stuff for them, they just give their money to 'their Guy' and he makes a whole bunch more money out it...easy-peasy:cool:
 
I’m friends with that “guy”. Dude has money rolling out of his ears. His kid walks around in a different pair of $1000 tennis shoes every time I see them.
 
I posted that gold price chart earlier to show that gold is not a great "investment" on an after inflation real return basis. It has its place as a "hedge" but if you look at the price during recessions and in between, its not that predictable. And right now, its near an all time high. I never buy cyclical investments that are at all time highs. As a matter of fact I am very reluctant to buy any stock near its all time high unless they are a new "rising star". That has been tough these days because so much market exuberance has put far too many stocks near their all time high.

Personally, my investments in "gold" are in producing gold mining companies. You get similar exposure to gold prices, but you can get economic business operating returns too. But, and its a big but....... you have to pick the right ones. All mines have limited life, so a companies ability to explore and develop, and/or their ability to buy good early stage gold exploration companies is key.

I have two portfolio's of investments. One I have managed by RBC and one I manage myself. The RBC portfolio has a trailing 12 mo return of around 20%. Mine is at 50% trailing 12. I do not churn or day trade. I take a Warren Buffet approach and am very diversified. I have no illusion that there will not be a correction to erode that, but I feel good now.

But, I have led a life of being too frugal. My friends and family have no idea about my net worth and would guess much lower than it is. If I could turn back time I would be less frugal and spend closer to my income. Its not in my nature to be ostentatious and flaunt wealth, but I should have played with nicer toys and took better vacations. At 58, and planning early retirement, I am realizing that life is far too short. So my best financial advice to anyone, is to be smart and plan and save for the future, but make the most of today as well.

“All men die; few men ever really live."
William Wallace
 
I am enjoying this thread and hearing the different thoughts and strategies.

I do not consider myself very knowledgeable with investing. I put more than I like into 401k and Roth IRA...have cash that I think daily I should be doing something more with...but gold and silver always have a place with me. I have no expectations that what I have will ever change my life or suddenly "pay off". And, I don't have much in the overall scheme of things.

But, what I do have, I can go rifle through and be glad I have it in my hands rather than a bank account or brokerage....it is off the books...and I can get it exchanged for cash locally.

More than likely, my kids will find it once I am gone and decide dear old dad wasn't such a bad guy after all. :)
 
ErikE said:
I am enjoying this thread and hearing the different thoughts and strategies.

I do not consider myself very knowledgeable with investing. I put more than I like into 401k and Roth IRA...have cash that I think daily I should be doing something more with...but gold and silver always have a place with me. I have no expectations that what I have will ever change my life or suddenly "pay off". And, I don't have much in the overall scheme of things.

But, what I do have, I can go rifle through and be glad I have it in my hands rather than a bank account or brokerage....it is off the books...and I can get it exchanged for cash locally.

More than likely, my kids will find it once I am gone and decide dear old dad wasn't such a bad guy after all. :)
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I agree that it does have that comfort feeling to be able to touch it and know it has inherent value as a material as well. If WW3 starts, I expect that precious metals that you physically hold may have significant value.

I recall years ago, my aunt and uncle (American citizens) asked my parents to buy gold Krugerrands (South African coins) for them, because Canada's embargo on South Africa did not extend to buying Krugerrands, but it was in the US. I guess the $/oz was advantageous as a result.
 
Creekwood said:
But, I have led a life of being too frugal. My friends and family have no idea about my net worth and would guess much lower than it is. If I could turn back time I would be less frugal and spend closer to my income. Its not in my nature to be ostentatious and flaunt wealth, but I should have played with nicer toys and took better vacations. At 58, and planning early retirement, I am realizing that life is far too short. So my best financial advice to anyone, is to be smart and plan and save for the future, but make the most of today as well.
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I knew it! You and I are brothers from different mothers and were brought up the same way. The frugal lifestyle you have lived is much like my lifestyle and, like you, I'm trying to make the most of every day.

Merry Christmas to you and your family.
 
Gofirstclass said:
I knew it! You and I are brothers from different mothers and were brought up the same way. The frugal lifestyle you have lived is much like my lifestyle and, like you, I'm trying to make the most of every day.

Merry Christmas to you and your family.
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Likewise! Merry Christmas to you as well.
 
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