6 Replies Latest reply on Jan 19, 2011 9:00 PM by RD2

    Gold and Silver

    RD2
      I am new as of tonight.  I will do a profile tomorrow, etc.  I checked all the past postings but did not find any discussions on other types of investing.  Has there been a forum that has discussed including precious metals as part of a portfolio?  Some questions might include whether to use a safe deposit box or let an institution "keep" it, what to buy, and from whom?  I have received the guidelines from the US Mint.  I think they suggested to keep it yourself.  Another suggestions was that you plan to hold it for at least 15 years or so.  I don't know their reasoning on the latter.  I believe we are in for significant inflation so I need to make some decisions soon.  I will read the discussions on IRAs, Roths, etc.  I am retired, 62, married and yes, we have house payments. :)
        • Re: Gold and Silver
          ldgpangeo
          I'm not financial expert, nor do I even try to play one. 

          I fear that the horse has left the barn for precious metals.  They've had a big run up in the past two years.  What confidence do you have that it will continue to grown in value particularly as the economy recovers from the turmoil of the past few years? 

          It reminds me of the last gold bubble when it shot up but then slid back and took 20+ years before anyone who bought near the peak saw any profit.
            • Re: Gold and Silver
              RD2
              Seems like a good hedge against the inflation that has to come sooner or later.  Paper money will be practically worthless so preciuos metals also seems safer for keeping what little I have.  Maybe I'm way off, but the next 6 months will help me decide.  What else is there in this uncertain economy?  I am encouraged by these last few months, but let's see how things go with our government and the national debt.
                • Re: Gold and Silver
                  illinimike68
                  I too am extremely concerned about inflation due to the inevitable monetization of our debt that has to occur but I admit I've never been a gold bug. You can't spend it until you sell your holdings, at least in part, and I believe most people don't have an exit strategy. If you buy now, and tell yourself that you will liquidate a certain percentage at, say $1800, more at $2000 and you're out at $2400, it could be a winning strategy. But human nature usually makes us hold on until a crash, and then we want a second chance to sell at the highs.
                    • Re: Gold and Silver
                      RD2
                      Thanks Mike.  Your timing is great.  I plan to call the Gold Bureau tomorrow.  I have a meeting on Wednesday and will make a decision shortly after that.  I am thinking of purchasing around $7000.  But still don't know how best to distribute that--coins, bars, gold, silver, ???
                        • Re: Gold and Silver
                          4536rail
                          My gold and silver coins are not an investment, they are insurance against runaway inflation and financial chaos.  I don't plan to sell them except under such emergency circumstances, so I don't worry if the price goes down for months or years (that only happens when the economy is doing well!).  With all the money-printing going on now, I fear that the time when I'll have to sell some to live on is not far off.  Gold has been going up steadily since we went off the gold standard in 1933, from $20 an ounce to the present $1400.  It's not going to stop. 
                            • Re: Gold and Silver
                              RD2

                              Thank you!  My thoughts too.  How do you keep yours?  Burried, Safe deposit box, with an institution, part of your portfolio?  I would appreciate feedback.  I am having a heck of a time finding people who are even on the map with what we are talking about around here.  Also, coins only? No bars?  Any silver?  Whom do you buy from?

                              Ron