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Banned
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,162
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Gold stash?
Once gold prices return to earth, the wife and I were considering picking up some gold bullion. Sort of a 'dooms day' insurance thing.
Anyone else do this? Anyone have better suggestions? |
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03-09-2006, 11:14 PM
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Senior Member
Join Date: Jun 2000
Location: N. Phoenix AZ USA
Posts: 28,943
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Did it years ago when prices were more reasonable. Not bullion but high quality chain and such.
Many people who travel for a living do this. If you get in a difficult situation and need to get out everyone knows what gold is. A second passport also helps. Yes, you can get them legally. How is for you to find out... JA
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2013 Jag XF, 2002 Dodge Ram 2500 Cummins (the workhorse), 1992 Jaguar XJ S-3 V-12 VDP (one of only 100 examples made), 1969 Jaguar XJ (been in the family since new), 1985 911 Targa backdated to 1973 RS specs with a 3.6 shoehorned in the back, 1959 Austin Healey Sprite (former SCCA H-Prod), 1995 BMW R1100RSL, 1971 & '72 BMW R75/5 "Toaster," Ural Tourist w/sidecar, 1949 Aeronca Sedan / QB |
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03-10-2006, 03:16 AM
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durn for'ner
Join Date: Feb 2005
Location: South of Sweden
Posts: 17,090
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I thinking of getting a foot in the mining business. Turns out Sweden soil carries a large part of the Uranium contents of the the globe. A lot of foreign companies looking to brake ground. Still illegal though.
IŽll be looking for suggestions for a good company name along the lines of Swedish Nuke Ltd - or the such. 
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Markus Resident Fluffer Carrera '85 |
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03-10-2006, 03:57 AM
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Registered
Join Date: Aug 2001
Location: Pensburgh
Posts: 5,630
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Back in the late 80s I heard Ted Turner had 7 mill. in gold buried on his ranch.
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Eric 83 911SC/83 944 bunch of Honda 750s 69 Chevrolet C-20 Longhorn (family heirloom) |
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03-10-2006, 04:20 AM
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Cars & Coffee Killer
Join Date: Sep 2004
Location: State of Failure
Posts: 32,246
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And I thought this thread would be about stashes...
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Some Porsches long ago...then a wankle... 5 liters of VVT fury now -Chris "There is freedom in risk, just as there is oppression in security." |
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03-10-2006, 05:11 AM
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Unconstitutional Patriot
Join Date: Apr 2000
Location: volunteer state
Posts: 5,620
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It would definitely be a good hedge. I don't have any gold, but geopolitical instability and the constant threat of a major terrorist attack linger. I recently saw a recommendation for a online gold dealer. I will search for it, if you'd like.
jurgen |
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03-10-2006, 05:51 AM
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Too big to fail
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Quote:
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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03-10-2006, 05:53 AM
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Thom, I was at a little gas station in the middle of nowhere yesterday and I swear I saw that guy. This little black dude was wearing a velvet suit and one of those big hats, even had a feather. Turns out he is one of those ultimate fighter guys. When I first saw him I wanted to just yell, "Charlie Murphey!" (in Chappelle's Rick James voice)
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1983 944 - Sable Brown Metallic / Saratoga / LSD : IceShark Light Kit |
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03-10-2006, 06:01 AM
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Registered
Join Date: Apr 2005
Location: cascade mtns,WA.
Posts: 884
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HardDrive........when gold comes back down to earth prices.......you are looking at them right now. Its as good as it gets.
I am sure in a few yrs when the gold price is in the thousands that you will say, damn, 550 was a good price. Actually, the train left the depot in march, 2001 when the price was at 260  If gold is looking a bite out of your price range, get some silver, it has much more value in the world of industrial use, etc ,etc. Do your DD on the subject, there is plenty out there. Right now Mexico, India are the biggest holders of silver, in fact Mexico this past yr tryed to re-establish its currency backed by silver. China right now is buying all the silver it can get its hands on, hmmmmm, let me think about this one. I believe Bill Gates owns a very big chunk of PAS, a silver mine in BC and good ol Warren Buffett has about 11 mil worth of silver sitting in a bank vault in england. Problem with most investing, by the time the general public starts hearing about anything, the cream is about gone but in the case with gold and silver, we got alot of wiggle room left before it hits any top. IMHO, buy now rather than later....think of it as starting a saving account or another way of looking at it is invest about 30% of your portfolio. You don't need to look like MR T, invest in coins like maple leafs or liberty coins, numismatic is priced too hi and is not for the faint of heart, stay away from bullion, that can always be called in by the feds but not coins. Hope this helps
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gatotom 76-911s-sold went to motherland 13-A4 2.0T Quattro S 96-Chev 1500 4x4 88 Sabre 38 mk 2 sailboat |
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03-10-2006, 09:46 AM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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YAWN....Considering that Gold costs $250 a Troy OZ to mine, $260 was ROCK BOTTOM.
Looks like all those Silver Spoons I bought are now worth a bit more than I paid...and everyone badgered me about having them....Well lets see U sell your fking 911S when the bottom drops out...
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Copyright "Some Observer" |
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03-10-2006, 10:02 AM
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Banned
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,162
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Thanks for the input guys, especially regarding current prices.
I guess I had the notion that prices would fall to earth again, but that does not seem to be the truth. Again, this would not really be an investment, rather a hedge against short term instability. |
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03-10-2006, 10:18 AM
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Banned
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,162
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Can anyone suggest a good place to buy precious metals, either online, or in Seattle or LA?
I looked at the US Mints proof sets, but they seem to be sold at a hefty premium. |
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03-10-2006, 10:27 AM
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Work in Progress
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HardDrive,
Take a look at the gold ETF that is very liquid and easy to get into and out of. The ticker symbol is: GLD. I think this might be one of your best bets for getting long gold. If you don't know anything about etf's do a search on: Exchange Traded Funds. Some people blame the rise in commodity prices on these ETF's. Apparently they have them in silver, gold, copper, ect. . . The ETF tracks the value of gold directly, but you do not have to worry about storing the gold or any of that. It might be your best way to invest. Good luck. I hope you never need to use that hedge but I wouldn't be surprised.
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"The reason most people give up is because they look at how far they have to go, not how far they have come." -Bruce Anderson via FB -Marine Blue '87 930 |
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03-10-2006, 11:54 AM
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Registered
Join Date: Mar 2003
Location: Lisle, IL
Posts: 197
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www.bulliondirect.com
Avoid proof sets, they're intended for collectors and have highly polished surfaces, they are nice coins, but the premium is not worth it if your intent is to buy the bullion. The standard american eagles and others available at the site are the way to go for bullion. Check your local coin shops as well, every one that ive been to carry bullion.
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1987 944S |
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03-10-2006, 12:07 PM
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B58/732
Join Date: Feb 2000
Location: Hot as Hell, AZ
Posts: 12,313
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You'll be up the creek when the gov't bans private ownership of gold again (yes, it did happen).
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ΜΟΛΩΝ ΛΑΒΕ I don't always talk to vegetarians--but when I do, it's with a mouthful of bacon. |
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03-10-2006, 12:39 PM
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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,510
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I've got some gold coins & silver bullion, also a few bags of "junk silver" USA coins....bought it decades ago. It looks really pretty...sitting there in a safety deposit box. Sure is heavy though, not easy to carry a lot of it. Can't eat it....but it is a medium of exchange if everything goes to hell. That was my thought decades ago when I bought it...I'm still waiting for everything to go to hell. I doubt things will ever get that bad. But it all looks pretty, sitting there in the safety deposit box that I usually open only when I want to remove some documents or something...Probably the best thing to carry if things really do go to hell? 8 pounds of semi-auto rifle, and the weight of 500 rounds of ammo. Rimfire ammo may be the best value to stash, since it can't be reloaded.
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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03-10-2006, 05:23 PM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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With that Assualt rifle and 500 rounds I can take your Gold and whatever else I want....
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Copyright "Some Observer" |
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03-10-2006, 05:34 PM
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Banned
Join Date: Apr 2005
Location: Columbus, OH
Posts: 18,162
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Quote:
Never thought about that.....forget the gold, I'll just get more ammo for the AK. If I need anything in a time of crisis, I'm sure the neighbors will 'accomodate' my familys needs. |
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03-10-2006, 08:39 PM
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Registered
Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 48,510
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Quote:
The beat goes on.
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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03-11-2006, 08:19 AM
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A Man of Wealth and Taste
Join Date: Dec 2002
Location: Out there somewhere beyond the doors of perception
Posts: 51,063
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In Post Industrial Liberal America the chanch that your surban neighbor having any kind of firepower is evaporating quickily.
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Copyright "Some Observer" |
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03-11-2006, 11:40 AM
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1983 Porsche 944 2.5 NA
Bruiser
