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Old 12-21-2015, 07:08 AM
 
Location: Colorado Springs
4,837 posts, read 4,952,340 times
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A lot of the right wing talk radio shows on AM radio have gold coin sellers as advertisers. They likely wouldn't be there if there were no buyers.

I suppose if you are motivated by fear gold might help to assuage that fear.
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Old 12-21-2015, 07:26 AM
 
Location: Pennsylvania
12,494 posts, read 4,223,982 times
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Gold.... what a joke.
If people would follow the investing advice of Warren Buffett -- they would do a little better.
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Old 12-21-2015, 07:48 AM
 
Location: Kalamalka Lake, B.C.
3,044 posts, read 4,014,767 times
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As Marilyn Manson said in "Bowling for Columbine" interview:

"Keep consumers afraid, and keep them consuming"
Next to handguns, gold would fill that bill.

There's a new MMM ploy on the go right now: it's ploy is gold. Here we go again!!
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Old 12-21-2015, 08:51 AM
 
29,775 posts, read 34,863,854 times
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So far we are up to 13 posts does anyone have any results for themselves, family or friends? That was the question not if it was reasonable. As Vision67 noted a lot of Gold has been sold over the last decade to personal investors many of whom were or are now retired. Is there no anecdotal stories around about them?
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Old 12-21-2015, 10:34 AM
 
Location: SoCal
13,226 posts, read 6,326,744 times
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I sold my gold jewelry at the peak, things that I didn't like, it net me $200. But I do plan to trade if I see an opportunity.
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Old 12-21-2015, 10:47 AM
Status: "0-0-2 Game On!" (set 1 day ago)
 
Location: The beautiful Rogue Valley, Oregon
7,297 posts, read 15,347,934 times
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My inlaws bought HEAVILY into the fear-monger Porter Stansbury's advice and went pretty much all-in on metals, "investment" coins and diamonds along with stocks (TSX and pink sheets) for miners and oil and gas. I just got done liquidating things at pennies on the dollar they paid- my FIL died in Jan 2014 and I estimate their accounts lost nearly 50% between his death and the time my MIL died this last Thanksgiving. Of course, if you look at timing, the accounts were riding high when the price of oil and gold was high - but as the prices started to fall, they were too afraid to pull some profit off the table.

The investment coins (the ones Stansbury recommended) were where they really got taken, imo, most of those are simply worth bullion value with almost no numismatic value past that. They'd been buying precious metal (mostly gold but also silver and platinum) since probably the 70s. If they'd stopped buying in, say, 1995 or so, they'd have done okay, but the older they got the more frightened they got (particularly after the election of Obama) and they were investing heavily around the peak.
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Old 12-21-2015, 10:58 AM
 
8,024 posts, read 7,300,443 times
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I know people who bought in the early 2000s and the late 2000s. Gold is still up about 4-fold. I know some oil patch people who are buying now. Generally, people who just buy in one shot and try to time it perfectly get killed as these things have long term trends as they're heavily influenced by the US dollar exchange rate. The last time we had similar policy to now is in 2000 with the Fed raising rates, foreign central banks buying US debt, and gold around 300. These kind of threads where people give advice are merely 20-20 hindsight with very little historical insight or long-term perspective.
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Old 12-21-2015, 11:34 AM
 
Location: In a vehicle.
5,029 posts, read 3,214,692 times
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Quote:
Originally Posted by TuborgP View Post
Lot's of fear and anxiety in late 2008 after the election and the collapse on Wall Street during the campaign. Lots of ads spewing fear and Gold as a solution. Lots of swings in Gold prices after lots of sales folks hawking Gold as your safety out let and security in retirement. With all the swings in prices and different entry points how is this working out for folks? Good decision? Not so good decision? A source of retirement related joy or perhaps grumpiness? Thoughts and stories welcomed.

I'm just glad I never got hooked onto that....Knew one guy who was buying, but he was buying gold coins and only occasionally for beauty of the coin and the gold. Not for rarity. He had quite a few for a SHTF moment, but he told me "I'm putting more into solid investments, this is just for a "What if" moment...
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Old 12-21-2015, 12:42 PM
 
2,008 posts, read 2,192,316 times
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I think it's funny that all those gold commercials air on conservative radio and then people like Dave Ramsey on the same station talk about how it's a horrible investment
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Old 12-21-2015, 02:14 PM
 
7,920 posts, read 5,037,155 times
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My parents bought a little bit of gold in 1980. Were they to have still been alive today, they'd be retirees. Needless to say, gold was not the soundest long-term investment. However, my mother parlayed her fear of equities into what turned out to be a fortuitous gamble: she mostly cashed out of stocks circa 2000, spending the next decade primarily in laddered long-term CDs. She did this without any political agenda or nattering fear of doomsday, or attempt to time the market. It was just a personal preference, that turned out to be wise.

Quote:
Originally Posted by Vision67 View Post
Gold is just a rock. But many people think it is money. So its price ebbs and flows with fear. That makes it an excellent trading vehicle.
Trading, yes; investment, not so much.

Quote:
Originally Posted by clarksvillemom View Post
I think it's funny that all those gold commercials air on conservative radio and then people like Dave Ramsey on the same station talk about how it's a horrible investment
On a separate (but related) topic, I find it to be deeply funny yet also unsettling that "conservative" used to mean the smug and self-congratulatory extolling of the status-quo by the well-established and the comfortable, lest clamoring protesters upset the natural order of things; but now "conservative" means dread of nefarious conspiracy and preparation for some nightmarish comeuppance.
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