If you own gold, even that damn best employee for March 1998 gold watch, 1st wife wedding ring, Mr. T's extra gold chain, you are doing great right now. Damn near $2200 an oz and climbing. All time high.

I lived next door to a gold mine when I was a kid. It wasn’t operating at the time because it cost more to dig out than it was worth.

yep some of the gold mine stocks like barrick gold (GOLD) are at lows, got a notification article from yahoo to buy the other day.

From my understanding physical gold is used to hedge inflation or help protect you from inflation. It shouldn’t be used as an investment but rather a way to protect what wealth you have. As inflation goes up (dollar is worth less) so gold naturally goes up because the value of the dollar is down.

That is true, but like any other asset there is a good and bad time to buy and sell it. Now is a good time to sell. Folks tend to hold gold forever. Like ya'll I got some of my GGG great grandparents gold jewelry they wore on the Mayflower and it may never get sold in my lifetime. But it is nice to see how that value has held up for so long when other money has vanished several times over.

I wish I still had my high school and college rings so I could cash in on the prices. Sold them years ago but gold prices were low then. That’s the biggest waste of money. So glad that it isn’t very popular for kids to have to have those anymore.

Wish I had a truck load of it whew

If owning gold is so great how come folks trying to sell your theirs

Skinny, sent you a PM. (Unrelated to gold )

Best response yet . I laugh at the commercials of folks trying sell us their gold . If it’s such a good investment why they selling theirs ???
I keep my money in long term mutual funds an fruit jars buried in backyard . When crap hits the fan us folks with a gardens and the knowledge of living off the grid will be worth more than all the gold in the world .

Is there any legitimate place that actually gives you what it is supposedly selling for?

Yes. Just call a coin shop and ask what they are buying gold for that day. One of them will give you spot price or close to it depending on what kind of gold it is. Jewelry gold is based on karat and weight. 14k is 58% gold. If spot is $2200 per Troy ounce (ozt), so 1 ozt of 14k = .58 x 2200 = $1276. A dealer may give you 90-99% of that because its jewelry and has to be sold to a refiner or if its nice sold retail a long time from now.
If its coin or bullion gold, they should give you spot at minimum, if they can't then go to another shop. There's a bunch of them.

That's why all I ever bought is bullion...cost more up front but will bring spot price and is verified...I say more but really just the going cost...

owning gold is so great how come folks trying to sell your theirs


Best response yet . I laugh at the commercials of folks trying sell us their gold . If it’s such a good investment why they selling theirs ???
I keep my money in long term mutual funds an fruit jars buried in backyard . When crap hits the fan us folks with a gardens and the knowledge of living off the grid will be worth more than all the gold in the world . 👍👍👍👍👍👍👍👍

Like most any other retail product, those folks bought a lot of gold in bulk at a discount price from wholesalers and are selling it for a large profit. Do not buy gold from the TV, they will over charge significantly for poor products, tv advertising is expensive. Buy gold a reputtable coin and bullion dealer and you will not over pay. Right now a 1 ounce gold bar can be bought at about 3-4% over spot price. So a dealer may make about 40-60 per bar, but keep in mind he risked over $2000 for that bar and if the dealer wants to stay in business he will have to replace that bar at or very near the spot price. So they are not making much per sale and are risking a good bit compared to the potential profit.