Who is this guy who said gold coins are a bad investment?
visual...@yahoo.com
> From: richard schumacher <no-s...@invalid.net>
> Date: Mon, 30 Jan 2006 04:15:31 -0600
> Local: Mon, Jan 30 2006 10:15 am
> Subject: Re: Gold coins as investment
>
> Gold coins are just about the last thing that anyone should invest in.
Who is the moron who wrote the above statement back in Jan 2006?
I was about to buy gold coins. I posted a question as a newbie for
advice on how to do so. I got this guy's reply. After reading it, I
got cold feet and never followed through on the purchase to my eternal
regret.
Robert Hairgrove
People were saying about the same in 2004 ... you have to do your own
research and stick by your guns if you believe you are right. In
newsgroups and forums, you will get all kinds of "advice". :)
Michael Benveniste
wrote:
>> Gold coins are just about the last thing that anyone should invest in.
>Who is the moron who wrote the above statement back in Jan 2006?
To be fair, the next two lines of his response were:
"They should never be more than a few percent of one's net worth.
If you have any credit card, automobile, or mortgage debt, don't buy
gold."
http://groups.google.com/group/rec.collecting.coins/msg/1643520ac9491909?hl=en
I don't agree with parts of that statement, but didn't say gold coins
were always a bad investment.
>I was about to buy gold coins. I posted a question as a newbie for
>advice on how to do so. I got this guy's reply. After reading it, I
>got cold feet and never followed through on the purchase to my eternal
>regret.
In summary, a random internet poster made a bare assertion, without
any explanation or supporting evidence. You then chose to make an
investment decision on that basis. The fault, dear Brutus, ...
You may safely assume I'm a random internet poster, although one who
does, occasionally, buy and sell gold bullion.
--
Mike Benveniste -- m...@murkyether.com (Clarification Required)
Quantum materiae materietur marmota monax si marmota monax materiam
possit materiari?
oly
Gold is NOT an investment. Its value remains reasonably steady, while
paper money fluctuates. Gold is the numeraire, paper is the crapuluex-
iere. Gold is money, paper is credit.
Having said that, gold is way cheap today compared to where it will be
very shortly. On Wednesday, March 18th, 2009, the Federal Reserve
Open Market Committee stated that they will print 1.05 trillion out of
thin air, immediately. The FRB will buy 300 billion in USTNs and 750
billion in U.S. Agency mortgage-backed securities. This is the same
thing as exchanging paper money for said bonds. The Fed also said
that it expects to keep interest rates near zero, forever.
Weimar America, here we come. Zimbamerica here we come. Bob Mugabe
meet Barry Obama. Barry Obama, meet Bob Mugabe.
oly
PC
<visual...@yahoo.com> wrote in message
news:2e6d212a-41ab-4447...@q30g2000vbn.googlegroups.com...
I wanted to buy a bunch of silver bricks when it was $5 an ounce and was
told by a lot of people in this NG that it was a bad idea.
Two years later we saw $20/per ounce silver.
It happens. Learn to trust your gut and not strangers on Usenet.
PC
"oly" <oly...@aol.com> wrote in message
news:c88c5569-602d-4745...@v39g2000yqm.googlegroups.com...
On Mar 21, 3:19 am, visualseep...@yahoo.com wrote:
> > Newsgroups: rec.collecting.coins
> > From: richard schumacher <no-s...@invalid.net>
> > Date: Mon, 30 Jan 2006 04:15:31 -0600
> > Local: Mon, Jan 30 2006 10:15 am
> > Subject: Re: Gold coins as investment
>
> > Gold coins are just about the last thing that anyone should invest in.
>
> Who is the moron who wrote the above statement back in Jan 2006?
>
> I was about to buy gold coins. I posted a question as a newbie for
> advice on how to do so. I got this guy's reply. After reading it, I
> got cold feet and never followed through on the purchase to my eternal
> regret.
Gold is NOT an investment. Its value remains reasonably steady, while
paper money fluctuates. Gold is the numeraire, paper is the crapuluex-
iere. Gold is money, paper is credit.
Having said that, gold is way cheap today compared to where it will be
very shortly. On Wednesday, March 18th, 2009, the Federal Reserve
Open Market Committee stated that they will print 1.05 trillion out of
thin air, immediately.
>>
And our currency went from a near 3 month high to an immediate 2 month low
VS the Euro. I should have known this was coming since I have some time
available in the next quarter for for a trip to Europe. Thanks a lot,
Bernanke!
Anyway, following Oly's logic, silver should see a jump as well but gold is
where the majority of money goes in these sorts of situations.
jack
******************************************************************8
I bought my first gold AE in mid Novbember '08 when gold was $730.00 am
ounce
and another gold eagle in december '08 and the ultra high relief tgold AE in
January '09
gold is at least $200.00 more per oounce then it was in mid November '08. I
agree w/
you gold is going to definitely continue to trend up.
http://www.kitco.com/charts/livegold.html
jack
note.boy
The statement was correct, if you had asked about gold coin speculation you
may have got a different answer. Billy
gogu
news:c88c5569-602d-4745...@v39g2000yqm.googlegroups.com...
>On Mar 21, 3:19 am, visualseep...@yahoo.com wrote:
>> > Newsgroups: rec.collecting.coins
>> > From: richard schumacher <no-s...@invalid.net>
>> > Date: Mon, 30 Jan 2006 04:15:31 -0600
>> > Local: Mon, Jan 30 2006 10:15 am
>> > Subject: Re: Gold coins as investment
>>
>> > Gold coins are just about the last thing that anyone should invest in.
>> Who is the moron who wrote the above statement back in Jan 2006?
>>
>> I was about to buy gold coins. I posted a question as a newbie for
>> advice on how to do so. I got this guy's reply. After reading it, I
>> got cold feet and never followed through on the purchase to my eternal
>> regret.
>Gold is NOT an investment.
Right, gold is *security*.
--
E' mai possibile, oh porco di un cane, che le avventure
in codesto reame debban risolversi tutte con grandi
puttane! F.d.A
Coins, travels and more:
http://s208.photobucket.com/albums/bb120/golanule/
http://gogu.enosi.org/index.html
RWF
I guess you're just a moron.
realit...@ausi.com
> <visualseep...@yahoo.com> wrote in message
Dude. Really.
mister...@yahoo.com
Gold should only be a part of your overall strategy. It's security
more than anything--a hedge against total economic collapse. And let's
say you had bought a few ounces back when gold was at $400 an ounce
and sold it when it hit a thousand an ounce--during that same time
period, your house value pummeted way way more than what you'd have
made on gold--unless you had bought a lot of gold that is. And you'd
have been really wiped out if you had 401K plan. It would have
lessened the bleeding somewhat but there were also other ways to make
money just as well as what gold did. So you think you'd have done well
but overall the odds are you'd have still lost a great deal during
that same time span.
Bruce Remick
<mister...@yahoo.com> wrote in message
news:af6323c5-8874-432a...@t21g2000yqi.googlegroups.com...
__________________
Sure, one could have bought gold in 2004 at $400 and sold in 2008 at $1,000.
But during that same time period the value of my paid-off home did not
plummet. Rather, it increased almost 50%. It's value has indeed declined
since 2008, but since I'm not going to be selling it, all I see is that I
now pay lower taxes on it.
My IRA retirement fund wasn't wiped out either. Rather, its total value
increased (even while taking out a monthly chunk of it). Its total value
has indeed declined since 2008 like that of most other people, but I can
wait for it to rebuild, which it already has started to do. Those who
haven't retired yet and are still contributing to an IRA or 401k may be
buying at a good price today and should benefit when the economy recovers.
Instead of getting all your news from media alarmists with their doomsday
agenda, you might also check a few actual facts before parroting their hype.
Gold certainly did provide a good source of profit for those who were lucky
enough to have bought and sold at the right times. But then anyone who
bought gold at $1,000 in 2008 may have to wait awhile before breaking even,
and may have to wait a lot more than four years before making a healthy
profit.