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16 Posts |
 Posted - 05/12/2008 : 21:54:26
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and i feel much better about life all of a sudden. 
got a good 25 ounces for 20 cents over spot after taxes and shipping.
would have been for less than spot if not for surcharges and taxes 
f#$King IRS always gets its cut.
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16 Posts |
Posted - 05/12/2008 : 21:55:33
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| of silver that is...25 ounces of gold is a king's ransom! |
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moboman
1000+ Penny Miser Member
USA
2555 Posts |
Posted - 05/12/2008 : 23:49:52
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| Ya I felt good after I bought my first gold eagle. The dealer was real nice to, educated me on all the different kind of bullion and premiums on coins and taxes and things. Now only if he would have told me to sell it when it peeked :D. |
"99% of all lawyers give the rest of them a bad name"
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JSutter
Penny Pincher Member
214 Posts |
Posted - 05/13/2008 : 00:52:15
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| I got almost 30oz of junk silver today at $15.07 an ounce, that drove my dollar cost average down almost a nickel :O) |
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16 Posts |
Posted - 05/13/2008 : 02:12:54
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| i got 12 ounces of 90% for face value once. At my job i find a silver dime every couple of weeks. havn't found a good source for junk silver though. |
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16 Posts |
Posted - 05/13/2008 : 02:19:30
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| also: i finally get my feet wet and I see an immediate drop in spot prices on both gold and silver. These kinds of things always happen to me no matter how much due diligence i apply. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 05/13/2008 : 14:49:55
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That happens to everyone. I'm down a couple of thousand dollars from the gold and silver peaks (I'm sure some of the heavyweights here lost a lot more than that); I should've seen it coming when a friend of mine asked about how he could buy silver.
Think of PMs as stocks that can't go to zero. Just hold on to what you have and keep buying on a regular basis, as this could prove to be a great buying opportunity over time. You need to cover your bases, and as long as you use discretionary investment income for your purchases, you really can't lose. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 05/13/2008 : 17:33:16
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Now, find a good place to stash it!
Or, do what I do. Draw faces on the bullion with magic markers, and have little PM puppet shows with them! Helps if you've got a 100 oz bar. Act like it's a bar, and all the little bars (or rounds, I don't discriminate), are bar patrons getting drunk and talking politics.
(With the curtains drawn of course) |
"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 05/13/2008 : 18:40:04
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| Buy bullion in Pennsylvania. No sales tax on coins or bullion coins. |
Realcent.forumco.com disclosure. Please read.
All posts either by the members, moderators, and the administration of http://realcent.forumco.com are for your edification and amusement only. It is not the intent of realcent.forumco.com or its host to provide investment, medical, matrimonial, legal, security or tax advice and nothing posted here should be considered to be so. All rights reserved.
Think positive. |
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16 Posts |
Posted - 05/13/2008 : 22:19:58
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here's the thing about PM's. Silver is an industrial metal, there is huge demand and a lot of it is used up every year. Gold is primarily a monetary metal with few industrial uses due to price. Most gold is hoarded.
Now a lot of people cry "gold is money!". But what do they mean by money?
money is something that has universal value. Lots of things have value, what differentiates money is that it is generic value that everyone wants.
So it is obvious to me that something like silver has value. But what about gold? Its main claim to fame is being scarce, but the case for scarcity as a holder of value applies even better to platinum...so again why gold? I feel like it would be possible to wake up tomorrow and see gold back down to $300. Not likely, but possible because the price of gold is pretty much entirely up to the market, not to any real demand.
OTOH, one can make the case that the price of gold NEVER changes. It bought in 30 B.C. what it buys in 2008. In that case it's only a matter of how many ounces of metal you can get for your paper dollars.
So when goldbugs and silverbugs talk about the prices going to the moon...well that will mean that paper currency has spiraled into oblivion and society is ****ed. Sure, your gold holdings will allow you to ride out the storm (the storms always end, humans are too industrious to allow chaos to prevail for long) but your quality of life will still decrease relative to what would have happened had paper currency NOT spiraled into oblivion.
my goal is 20% of my wealth in metals mostly as an insurance policy against the sh!t hitting the fan so to speak. I think the people who play the market are being silly (but hey, if you make money at it good for you). For the sh!t hitting the fan scenarios silver seems a better investment as it is more easily traded with less suspicion on other people's part than if you show up with a bag full of gold.
but what do I know, i'm a noob. what are other people's thoughts? |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 05/15/2008 : 07:57:03
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| If the SHTF, I wouldn't be showing up anywhere with a bag of gold! ;) |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/15/2008 : 17:21:59
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quote:
Originally posted by starwarsgeek171
If the SHTF, I wouldn't be showing up anywhere with a bag of gold! ;)
Bag full of gold, clips full of lead....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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misteroman
Administrator
USA
2565 Posts |
Posted - 05/15/2008 : 22:04:54
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| ^^^ lol |
Buying CU cents!!!! Paying 1.2 unlimited amounts wanted. Can pick up if near Ohio area. |
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16 Posts |
Posted - 05/15/2008 : 22:32:59
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| I just see two types of PM buyers. Survivalist types who see another great depression coming and investor types who seem to cackle with glee at the thought of $5000 gold without realizing that $5000 gold would mean that the US was in some serious trouble. PM's are insurance, and when you buy insurance you're betting against yourself. I'd much prefer that society continues to function. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/16/2008 : 06:11:50
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At least my metals look nicer than a stack of bills.... Shiny....
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 05/16/2008 : 07:13:36
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| Shiny is good! |
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fb101
Administrator
USA
2856 Posts |
Posted - 05/16/2008 : 09:20:58
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As a matter of fact, the U.S. is already in WAY WAY more serious trouble than anyone sees yet. Basing the value of the dollar on GDP is only useful when there's something to buy that the U.S. sells. Our manufacturing base is almost dead, and now we're (ahem)outsourcing our technical skills and unemploying americans. Real GDP in a global economy is only what's useful globally, and things like handing out drivers licenses do not actually contribute to the US GDP (globally thinking). We're about 2 decades or less from broke if something does not change. Our best and only forseeable hope is for the dollar to fall until we become globally competitive and our manufacturing base builds again. Also, I have to say in my view that the only way out of the housing crisis I see is to have a controlled inflation , then jack up the interest rates to shut it off after a balance is achieved. Too many people lost (and still are losing) too much wealth from the bleeding in the housing sector. (For reference if anyone can reasonably disprove that, I'm open. I'm not a doomsayer, I'm a realist and I don't like this at all)
BTW: Before you blame all those mean bad evil bankers for all this,
the real culprit is the CRA (Community reinvestment act) which dates back into the mid 90s - actually a law which says the banks have to loan money to people they know will likely NOT pay it back.
just fell of my pedestal! 
quote:
Originally posted by nazgulnarsil
I just see two types of PM buyers. Survivalist types who see another great depression coming and investor types who seem to cackle with glee at the thought of $5000 gold without realizing that $5000 gold would mean that the US was in some serious trouble. PM's are insurance, and when you buy insurance you're betting against yourself. I'd much prefer that society continues to function.
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fb101
Administrator
USA
2856 Posts |
Posted - 05/16/2008 : 09:29:28
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| BTW: I prefer small silver coinage because you could spend it at a grocery store if necessary. If the bank lets you in to your box to get it, that is. |
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 05/16/2008 : 17:07:49
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"BTW: I prefer small silver coinage because you could spend it at a grocery store if necessary. If the bank lets you in to your box to get it, that is."
Me too I have lots of silver dimes, Quarters, halves, $1 and OZ's. Mine is protected by a dog and S&W. I want my Pm's close to me when TSHTF. |
Steiner |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/16/2008 : 18:01:58
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How are the gun laws up there in Canada? Easy to purchase handguns?
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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Steiner
Penny Collector Member
Canada
278 Posts |
Posted - 05/16/2008 : 18:09:39
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No it is not. One need to take a few courses and have a background check.
Once you get your unrestricted FAC ( Fire Arms Certificate )you then buy ammo and hand guns.
You need to renew every 5 years also.
Steiner |
Steiner |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/16/2008 : 18:17:02
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I see. Thank you for the info. I had heard it was difficult.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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swusc
Penny Hoarding Member
USA
553 Posts |
Posted - 05/16/2008 : 20:14:39
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quote:
Originally posted by NotABigDeal
I see. Thank you for the info. I had heard it was difficult.
Deal
I thought it was hard in South Carolina. I had to be 21. That was a long wait. :) I did have to take a course to be able to carry 90+% of the time though.
Sorry to hear about laws in Canada being so tough. That really stinks (and in MHO very stupid of the government)
-SWUSC |
`Everybody is ignorant. Only on different subjects.' Will Rogers
"This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the "hidden" confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard." Alan Greenspan, 1966. |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 05/16/2008 : 20:20:54
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There is a course here as well. You need to be 23 to carry concealed. Test is a breeze though. At least this freedom still exists....
Deal
p.s. Sorry so far off topic. |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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n/a
deleted
16 Posts |
Posted - 05/17/2008 : 00:10:06
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heh not at all, i'm about to make my first handgun purchase here in california.
here's a few more thoughts:
the US is not going down the crapper. people are doom and gloom every time we have a recession but you know what? every recession since the great one has been shorter and less severe than the previous one. The current "problem" represent only a tiny pullback of our markets. The markets are not going down the tubes, they just aren't growing as fast as we'd like. This is not a recipe for Mad Max style civilization. As far as manufacturing outsourcing, the jobs that were outsourced are now coming back due to the dollars weakness and the rising costs in india and china (outsourcing in india was 30% more expensive in 2007 than 2006). The US might be on a slight decline compared to where it was in 1999, but this is temporary, these things have always moved in waves. The rising middle classes of india and china are going to fuel a worldwide economic boom that makes the last one look like a statistical blip. We go down for a bit, everyone else goes up, ultimately allowing us to go up again. |
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fb101
Administrator
USA
2856 Posts |
Posted - 05/17/2008 : 18:57:45
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| I agree. When the dollar falls sufficiently.... But how can we compete with those in the far east who work for a dollar an hour or die of lead poisoning? |
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Just made my first bullion purchase...
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