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  • Avatar Kamban 
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    I thought attraction of the thread title to Crixus was like a dead and rotting water buffalo to a Komodo dragon. How come he has not smelled the prey and come in to join the feast.  😀

    #166793 Reply
    Liked by Craigy
    Avatar G 
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    we have several recent examples of total societal/economic collapse (Iraq, Venezuela

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    I read “A Gentleman in Moscow” based upon your recommendation (I think it was you); gold coins worked out for that guy! 😉

     

    #166798 Reply
    Lithium Lithium 
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    My Dad gave me a Krugerrand last year. I’ve mainly been holding on to it because I don’t want to hurt his feelings if he finds out I sold it, and also I don’t have a great idea how to get the best price for it. Though I think I’ll make myself do it by the end of the year. I’m not going to get a deposit box at a local bank and if I never sell it, I’m more than 50% likely to lose it at some point.

    I should do the same thing with the extremely nice watch my uncle gave me for my HS graduation. If he questions why I’m wearing a $10 Casio instead, I’ll just tell him that his was too nice to wear in public.

    #166803 Reply
    MPMD MPMD 
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    we have several recent examples of total societal/economic collapse (Iraq, Venezuela 

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    I read “A Gentleman in Moscow” based upon your recommendation (I think it was you); gold coins worked out for that guy! ?

     

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    It probably was, I loved that book!

    Well played sir, I will bow to your point. If you are a Russian aristocrat who has escaped the purge of the landed gentry and are living under “house” arrest in a fine old hotel in Moscow after seizure of your family wealth I do think having a strong dubloon/krugerand position is advisable. But only if you are maxing out your Roth IRA.

    #166847 Reply
    Avatar rdo 
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    Status: Physician
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    Joined: 03/12/2017
    I thought attraction of the thread title to Crixus was like a dead and rotting water buffalo to a Komodo dragon. How come he has no smelled the prey and come in to join the feast.

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    I am wondering the same too.  maybe he will come back when we are in a bear market.

    #166865 Reply
    Craigy Craigy 
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    I feel like when gold bullion investment threads start popping up, that’s when the bull market officially goes bear.   😆

    Gold is a semi-reliable store of value, but you have to keep it secure.  Plus there are transaction costs, etc. and it’s a hassle to liquidate.

    I have a crazy aunt who likes to give gold, silver etc.  The little 1/10 ounce coins of gold, 1oz silver.  And weird stuff like copper coins.  I keep it very securely stored in a ziploc bag and on a shelf.   😆  I would guess no more than $500 or so.  The silver tarnishes which is a bummer.  I’d sell it but I don’t feel like it would be worth the hassle at this point.

    My grandmother supposedly had something like $30k of gold coins in her reverse-mortgaged house, which of course was robbed.  She got a couple thousand from the loss of some other items, but the coins weren’t covered by her homeowner policy.  That was probably around the height of the gold market, so, for what it’s worth, it would be less of a loss today.   😛

    LEVEL 1 WCI FORUM MEMBER.

    #166880 Reply
    Molar Mechanic Molar Mechanic 
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    One day when I feel I’ve got enough in the market that I can make some stupid decisions, I’ll probably acquire 5 figures in gold, cash or whatever and put in with the zombie apocalypse gear.  When I do, it’ll go in the budget as spending, not investing.

     

    I don’t feel we’re anywhere near that point now, and I’ve got better things to do with my money, so I wouldn’t hold gold as an asset or an investment.

    #166889 Reply
    Avatar drgenericusername 
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    Status: Physician
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    Joined: 02/22/2018

    No one invests in gold bullion.  It is a possession, not an investment.  It doesn’t increase in quantity or productivity over time.  It costs money to store, to insure, to transport.  If you had a troy ounce a century ago you have troy ounce today (and you’re pretty old).

    See Warren Buffett’s thoughts on gold in his 2011 letter to shareholders.  http://www.berkshirehathaway.com/letters/2011ltr.pdf

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    Thanks to your thoughtful link I now have the all time Buffett quote

     

    “You can fondle the cube, but it will not respond.”

    #166898 Reply
    Liked by pulmdoc, Peds
    hatton1 hatton1 
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    My recently widowed friend was left $500k in gold bullion.  She is planning to sell it.  If her husband had been better with money she would not have to fool with this.  He also left her  a LOC $800k with her house as collateral.  Sometimes people are just too cute with their money minds.

    #166904 Reply
    Liked by Tim, Peds
    Avatar PhotonsRGR8 
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    Splash Refinancing Bonus

    So I’m guessing you’ve got 10 troy oz. If you unload it to a dealer they’ll give you spot or slightly less. You’ll be taxed at 28% unless it’s American Gold Eagles. At 10 troy oz. dealer is obligated to send form to IRS. I’d sit on them.

    Edit: So they’re AGEs. I’d hang on. It was a gift after all?

    No, I’m not a pseudonym for Crixus.

    #166937 Reply
    Drop it into MD Drop it into MD 
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    One day when I feel I’ve got enough in the market that I can make some stupid decisions, I’ll probably acquire 5 figures in gold, cash or whatever and put in with the zombie apocalypse gear.  When I do, it’ll go in the budget as spending, not investing.

     

    I don’t feel we’re anywhere near that point now, and I’ve got better things to do with my money, so I wouldn’t hold gold as an asset or an investment.

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    What if you already had it?  Would you sell now and buy more later or just start your apocalypse fund early?

    So I’m guessing you’ve got 10 troy oz. If you unload it to a dealer they’ll give you spot or slightly less. You’ll be taxed at 28% unless it’s American Gold Eagles. At 10 troy oz. dealer is obligated to send form to IRS. I’d sit on them.

    Edit: So they’re AGEs. I’d hang on. It was a gift after all?

    No, I’m not a pseudonym for Crixus.

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    It was a gift.  Grandparent that watches too much TV…    It would be cooler if I dug them up someplace.

     

    I admit I do not know much about the tax implications of this.  Why does the fact that it is AGE matter?

     

    You are much more coherent then Crixus.  Also you did not post any charts or graphs.

    #167005 Reply
    childay childay 
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    Also you did not post any charts or graphs.

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    Yes this thread is sorely lacking in indecipherable charts and nonsensical acronyms

    #167029 Reply
    Avatar PhotonsRGR8 
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    Status: Physician
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    Joined: 07/24/2017

    So 10 troy oz is less than a kilo. Unless you’re at 39.6 % I Would hold. Seriously do what you want but I’ve got %10 in bullion. In 2009 I had to determine what currency was keeeping up with inflation. After pondering Swiss Franck, I wound up with gold bullion. Do your own due diligence.

    #167085 Reply
    Avatar adventure 
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    Does any one invest in this?

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    I keep doing yardwork looking for some. No luck yet.

    #167113 Reply
    Avatar adventure 
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    great Mr. David Ramsey of Tennessee

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    Good title. I’d like to be know “of my state”.

    : )

    #167114 Reply

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