Owning Gold

[Nutria]

What is the right way to own Gold? I've never owned it as part of my retirement portfolio. But I'd like some ideas how to buy Gold. Do I buy shares. I don't want to actually owned gold bar... Just want to own a small piece in $1K range to start with....any idea?....

First and most important question: why do you want to own gold?

(I bought a couple of 5 gram bars, not as a investment, but "just because" I wanted to.)

[rennigade]

First and most important question: why do you want to own gold?

As my father in law says...because if the economy crashes and government vanishes at least he'll have a precious metal that he can trade for a chicken (food.) lol...true story. I try not to talk about owning gold anymore with him.

Id much rather own guns/ammo if I thought the world was headed towards total anarchy. Just sayin. Maybe also a bunch of bottles of alcohol and cigarettes. Those seem like they will be much more valuable than a hunk of soft colored metal.

[corn18]

As my father in law says...because if the economy crashes and government vanishes at least he'll have a precious metal that he can trade for a chicken (food.) lol...true story. I try not to talk about owning gold anymore with him.

Id much rather own guns/ammo if I thought the world was headed towards total anarchy. Just sayin. Maybe also a bunch of bottles of alcohol and cigarettes. Those seem like they will be much more valuable than a hunk of soft colored metal.

Agree with this. I decided to arm up this winter for whatever reason. Now I have the 4 guns, 2,000 rounds of ammunition and the whole family trained to use them. Way more fun than buying gold.

[Nutria]

Agree with this. I decided to arm up this winter for whatever reason. Now I have the 4 guns, 2,000 rounds of ammunition and the whole family trained to use them.

Guns aren't cheap. In fact, they're anti-cheap. What's the opportunity cost of those guns and ammo?

[rennigade]

Guns aren't cheap. In fact, they're anti-cheap. What's the opportunity cost of those guns and ammo?

In the post apocalyptic world...hunting for food...and protection.

In the real world...hunting for food and protection. They also hold their value very well. I bought a run of the mill sig p229 10 years ago for $550. Same gun is now being sold for $950. Thank the gun nuts for the price hike.

[Nutria]

In the post apocalyptic world...hunting for food...and protection.

There will be no apocalypse.

In the real world...hunting for food and protection.

Hunting is expensive, and do you really get robbed/assaulted that often?

They also hold their value very well. I bought a run of the mill sig p229 10 years ago for $550. Same gun is now being sold for $950. Thank the gun nuts for the price hike.

How about your used P229?

[rennigade]

There will be no apocalypse.

Hunting is expensive, and do you really get robbed/assaulted that often?

How about your used P229?

Ill let my FIL know about their not being an apocalypse. That way he can stop using the excuse that trading gold coins/bars for chickens is a good idea.

Anything labeled "expensive" is a relative term. Whats expensive to you may not be expensive to me. My family owns a bunch of acreage. You can get a rifle/scope for a couple hundred bucks. Some ammo, an orange vest and a hunting license...easily all for less than $500. The following year you only need a license...which is around $20. We can walk out of our house a couple hundred yards and be ready to hunt. Processing a deer requires a knife ($20.)

Of course you can get all the bells and whistles that goes along with hunting and turn that $500 into several thousand dollars. Its not necessary though...please stop saying that hunting is expensive. Several years of successful hunting and the amount of meat you have would cover all of your expenses including the gun...assuming you buy that same poundage of red meat in the grocery store.

I live in a state that I cannot carry a firearm. When I move back to PA I will be conceal carrying. I havent ever been assaulted/robbed and I hope to never have to experience that.

My used p229...I wouldnt sell it for anything less than $800. Im one of those people who sissy their guns...theres not a mark on it and less than 1500 rounds through the barrel.

[Nutria]

My family owns a bunch of acreage.

Most people don't.

You can get a rifle/scope for a couple hundred bucks. Some ammo, an orange vest and a hunting license...easily all for less than $500. The following year you only need a license...which is around $20.

And cammo gear, cammo gun, a couple of thousand dollars for the lease. Plus the ATV for hauling the kill back to camp, and the cool truck.

We can walk out of our house a couple hundred yards and be ready to hunt.

Most people can't.

Processing a deer requires a knife ($20.)

And the extra freezer to store all that meat.

Of course you can get all the bells and whistles that goes along with hunting and turn that $500 into several thousand dollars. Its not necessary though...

Necessary is in the eye of the beholder.

please stop saying that hunting is expensive.

But it is, for most of us.

[rennigade]

Most people don't.

And cammo gear, cammo gun, a couple of thousand dollars for the lease. Plus the ATV for hauling the kill back to camp, and the cool truck.

Most people can't.

And the extra freezer to store all that meat.

Necessary is in the eye of the beholder.

But it is, for most of us.

All states have public land that is free to use. Whether you live near one is the individuals problem.

Camouflage anything when hunting deer is irrelevant. Not needed. Turkey on the other hand is a different story. Orange however is required. No atv required...most people field dress the deer in the woods (pull all the guts out) deer is then much lighter...you drag it out with a rope. Very standard practice. The issue is you like most people see hunters on tv...like the hunting channel. They go to remote areas where they spend enormous sums of money for a guide along with gear. Its not the norm...it represents a very small percentage of hunters.

Most people do not have a deep freezers? Search slickdeals.net...you can find them all the time for sub $200. They're great at preventing freezer burn...forget hunters...anyone who stores anything in a freezer for long periods of time should own one. They do not take up much space.

Necessary is not in the eye of the beholder. Very few things in life are a necessity. Luxury on the other hand...yes. Definition of necessity: the fact of being required. Is an atv required to hunt? no Is a truck required to hunt? no Is an $800 scope required to hunt? no...I can go on if you'd like?

I can tell you're not a hunter and are not familiar with what tools are needed to hunt. Feel free to keep trying to convince me what I need to hunt when Ive been doing it for 20 years.

[corn18]

Guns aren't cheap. In fact, they're anti-cheap. What's the opportunity cost of those guns and ammo?

Not sure what your point is. I wanted to buy some guns and ammo so I bought some guns and ammo. I did not try to justify them beyond the simple transaction costs.

[Nutria]

[QUOTE=tomhole;425687]Not sure what your point is.

This is a Savings Advice forum, not a spending advice forum...

I wanted to buy some guns and ammo so I bought some guns and ammo. I did not try to justify them beyond the simple transaction costs.

As is your right.

[corn18]

[QUOTE=Nutria;425696]

Not sure what your point is.

This is a Savings Advice forum, not a spending advice forum...



As is your right.

Really? There have been several hundred threads since I joined that focus solely on spending.

[~bs]

Gold is a store of value, not so much an investment vehicle. At least that's the way i view it.

Also be aware that there are A LOT of fakes circulating now. Many of them pass weight/dimensions test.

[Nutria]

Gold is a store of value, not so much an investment vehicle. At least that's the way i view it.

But that value keeps on fluctuating. And isn't very granular for use as trade in the non-coming apocalypse.

[~bs]

But that value keeps on fluctuating. And isn't very granular for use as trade in the non-coming apocalypse.

I didn't say the value was constant. But throughout had history, gold and land probably were the only 2 hard assets that had maintained real value.

If the apocalypse happens, no one will be around to care about gold or anything else.