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I have not found a dealer in Charlotte that I am comfortable with. It seems a bit odd the Treasury does not have a source for their coins listed for Charlotte given all the high finance here. The closest is in the Greensboro area.
Heres a little site that you may want to bookmark DollarCollapse - Your ringside seat for the global financial crisis, it shows you up to the minute prices of both Gold and Silver as well as the US Dollar. Gold and Silver prices are going to continue to rise and the US Dollar will continue its decline although I think its possible we could have a brief(few weeks) decline in both Gold and Silver and a rally in the US Dollar while the stock market plummets. I am looking for a significant decline in the stock market within the next 1-3 weeks.
Please explain this to me ... buying gold and silver? I have some money sitting in a savings account drawing pitiful interest ... but I don't understand the buying gold and silver ... do you get a bar of gold ... or coins ... or a certificate stating you own gold or silver? What do you do with it ... just a collectors item ... should the need arise how do you get rid of it ... don't think you can walk in the grocery store with a hunk of gold. I have played the market and I understand that ... even pork belly & commodities ... which was all paper. But I have always been puzzled by gold and silver buying.
... ... should the need arise how do you get rid of it ...
If you buy coins, they are legal tender if anything else. However the metal content is worth a lot more. If you need to do something with it you can sell it or trade it. Gold has been used for transactions for $1000s of years.
As an example closer to home, they used to mint gold coins in Charlotte. The US Mint did that here until 1865. They minted $1, $2.50 and $5 coins here. If you had taken your money at the time in paper you would have well... $1, $2.50, or $5, but if you had gotten it in coinage at the time, you would have between $127, $255, and $550 in gold (melt value). In reality you would have coins worth in the tens of thousands depending upon quallity because Charlotte gold coins are very rare.
Until 1964, dimes, quarters and 1/2 dollars were made of 90% silver. From 1965 on, they changed to a copper alloy. The pre-'65 versions of these coins have simply disappeared because of their value. However you can find plenty of nickels older than this because it's composition hasn't changed.
Finally, compare this $5 bill vs the $5 bill you have now. You have a "Federal Reserve Note" which is fiat money. It's not pegged to anything. The $5 below is a "Silver Certificate" instead. At the bottom you will note where you could directly trade it for silver. Money was once directly convertable into metal which maintained it's value to something tangible. Not so now. To add insult to injury, the interest you are making on that money is taxed. We have had Federal Reserve notes no for so long that people don't realize it wasn't always this way.
Finally if you were a high roller, they had Gold Certificates too. Of course money like this is long long gone. If you didn't convert these by 1969 you were out of a lot of wealth because the US government changed the law and eliminated the convertability. (though they are still legal tender)
Me thinks we are in a gold 'bubble' right now w/all this talk of buying gold...
You may be right in the short term. It's gone up $100/oz since I started this topic.
It tell people there is no such thing as a short term investment. In the short term it is a gamble whether it be real estate, stocks, precious metals, etc. Some people play it for the short term know the risks, others play it long buy the investment and don't fret about the day to day prices. It's the ones who rush in without knowing this that get burnt. House flippers who hung around late in the housing bubble have found this out the hard way. They broke two rules. They were borrowing money to gamble and didn't believe it was possible their gamble would not pay out. They come here upset because they can't sell these gambles.
Some advice. Don't borrow money to pay for investments/gambles. Furthermore pay off all debt, these days, before making any kind of investment. That is absolutely the best return on your money because if you are in debt you give the bank a license to take you to the cleaners. People will say, "Oh I trust my bank". When was the last time you saw a dishonest looking thief? People will tell you otherwise about the debt part, but that is because they either have never been in that position or they are trying to make money off of you by selling you debt. Misery loves company. Ask someone who has a paid for house, no debt and cash for living on how they feel about this economy.
The only thing that we know for sure, no question about that at all, is that cash is worth less every day. If you have no debts, have sufficient cash around to live on for basic needs, then this is the only time anyone should consider something of this nature. In addition, I would take possession of the metal and put it somewhere. That has its own issues, but the purpose is to have something besides ink on paper. Gold coins will develop a numismatic value beyond the melt value due to the fact they are relatively rare even when in production.
When making a puchase in cash of over $5000 is there notice to the taxaction dept. of the buyer's name?
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Purchase of gold. . . reported to Government?
