Gold

[whoisjohngalt]

Hi all,

I was wondering if any of you can tell me about investing in gold. Good idea? Bad one? If I were to do it, how would I go about it, etc etc

thanks much
Lena

[The Virginian]

From my humble point of view - a bad investment - a bubble waiting to pop. Many are buying it because they think the economy is going to collapse. Unless you take physical possession all you are buying is some companies promise to deliver it - they probably will not be a able to do that if ever thing falls apart. Even if you do get it - what will you do with it? You can't eat it, wear it, who will give you those things for it?
For me - I would rather own Dividend paying large Iconic Stocks.

Just my humble opinion.

[whoisjohngalt]

thank you.

Is your opinion the same when it comes to gold coins?

Lena

[The Virginian]

Well yes,

Again, I believe they are inflated in price since they are normally sold at the same value as what they are worth in the weight of Gold. I would buy some as a collector if I collected coins but again I would wait for the bubble to pop. If you do decide to invest, then gold coins that you actually have possession of is the safest way.

If you are just buying for security I would suggest loose diamonds. They are easier to conceal and can be transported very easily.

This is only my opinion and I would caution that there are many people that believe just the opposite of what I do.

[whoisjohngalt]

Thanks

My DH collects coins and someone in his club is selling gold coins, so my DH suggested we get it as an "investment". I don't know anything about it, though, so thought I would ask. Whether your opinion is right or wrong, it makes sense to ME, so, that's all that matters ;D

thanks again

Lena

[The Virginian]

Well in that case your husband could be getting a great deal from someone trying to sell their collection. In that case it might be worth looking at.

[bimetalaupt]

Feb 22, 2012 11:08:42 GMT -5 whoisjohngalt said:

thank you.

Is your opinion the same when it comes to gold coins?

Lena

Lena,
I keep getting call to sell me gold coins/ rare coins.. They give me this great pitch then I ask them what they will pay me for the coins I have.. Talk about change in tune!!! The mark-up is huge. Like rare art..26 to30% recovery of investment can be expected if you have to sell. (ART)...
ALSO!!! all gains are taxed at your highest income level.. not capital gains!! You can declare loses only if this is your income and not a hobby.
Not good,
Bruce