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LLStarks
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Fri Jan-07-11 10:55 PM Original message |
The price of gold is rising. Is investing in gold really that much of a scam? |
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gateley
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Fri Jan-07-11 10:57 PM Response to Original message |
1. I'm guessing those who invested about $500 ago don't think it's a scam. nt |
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matt819
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Fri Jan-07-11 11:32 PM Response to Reply #1 |
10. Here's the scam |
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gateley
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Sat Jan-08-11 12:06 AM Response to Reply #10 |
14. Yeah, the scammer sellers - not the way to go. I feel for those who trust Glen Beck. nt |
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WinkyDink
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Sat Jan-08-11 09:39 AM Response to Reply #1 |
68. When it falls, they will. How would paying worthless dollars for bread be worse than paying in gold? |
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Art_from_Ark
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Sat Jan-08-11 10:39 AM Response to Reply #68 |
79. Maybe you should ask someone from Zimbabwe that question |
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AlabamaLibrul
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Fri Jan-07-11 10:59 PM Response to Original message |
2. Gold itself is not a scam - but the sellers thereof are rife with fraudsters |
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htuttle
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Fri Jan-07-11 10:59 PM Response to Original message |
3. The scam in most gold investments is that you never get the gold |
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earthside
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Fri Jan-07-11 11:00 PM Response to Original message |
4. No. |
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TwilightGardener
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Fri Jan-07-11 11:02 PM Response to Original message |
5. I don't know if it's a scam. I do know that people way back when thought tulips |
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CreekDog
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Fri Jan-07-11 11:03 PM Response to Original message |
6. gold coins, yes (and those are the ads you hear on the radio) |
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Art_from_Ark
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Fri Jan-07-11 11:23 PM Response to Reply #6 |
9. Actually. some types of gold coins are the preferred medium |
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petronius
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Fri Jan-07-11 11:05 PM Response to Original message |
7. I've been a bit confused lately by some of the advertising: "The price of gold has |
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AC_Mem
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Fri Jan-07-11 11:38 PM Response to Reply #7 |
11. I've been hearing them too |
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Art_from_Ark
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Sat Jan-08-11 03:03 AM Response to Reply #11 |
38. There's nothing funny about that |
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Statistical
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Sat Jan-08-11 12:42 PM Response to Reply #38 |
96. Actually there is something funny about it. |
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Art_from_Ark
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Sat Jan-08-11 12:50 PM Response to Reply #96 |
97. You do not seem to understand the concept of "dealers" |
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Art_from_Ark
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Mon Jan-10-11 09:48 AM Response to Reply #96 |
112. Think of it this way |
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Zanzobar
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Mon Jan-10-11 09:55 AM Response to Reply #96 |
113. Why not do that with bread, or cars, or steel? |
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petronius
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Sat Jan-08-11 12:26 PM Response to Reply #11 |
93. It is weird, isn't it? Perhaps these dealers are just generous and caring people, |
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hedgehog
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Sat Jan-08-11 12:53 PM Response to Reply #11 |
98. +1 |
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gmoney
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Sun Jan-09-11 12:32 AM Response to Reply #7 |
104. "Buy high, sell low... that's the way to riches!" (isn't it?) |
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Art_from_Ark
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Sun Jan-09-11 03:11 AM Response to Reply #104 |
106. Name one modern country where the paper currency collapsed |
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pa28
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Fri Jan-07-11 11:18 PM Response to Original message |
8. If you do it Glen Beck style and invest in value added "collector coins" you'll get squeezed. |
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Art_from_Ark
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Sat Jan-08-11 07:14 AM Response to Reply #8 |
58. If you have no expertise in numismatics |
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Common Sense Party
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Fri Jan-07-11 11:55 PM Response to Original message |
12. It's not a 'scam' per se...it's just a stupid investment decision. |
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Lord Magus
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Sat Jan-08-11 02:44 AM Response to Reply #12 |
33. Exactly. |
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pipoman
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Fri Jan-07-11 11:59 PM Response to Original message |
13. No scam |
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provis99
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Sat Jan-08-11 01:45 AM Response to Reply #13 |
26. if you bought 1 oz of gold 200 years ago, and still had it, |
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pipoman
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Sat Jan-08-11 01:59 AM Response to Reply #26 |
27. And that is why I said, |
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provis99
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Sat Jan-08-11 02:33 AM Response to Reply #27 |
30. on the other hand. |
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pipoman
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Sat Jan-08-11 02:56 AM Response to Reply #30 |
36. And I am not seeing your point |
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Art_from_Ark
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Sat Jan-08-11 10:26 AM Response to Reply #30 |
78. Going by that line of reasoning |
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hunter
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Sat Jan-08-11 11:42 AM Response to Reply #78 |
85. If you'd bought gold in 1927 you'd be old or dead. |
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Art_from_Ark
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Sat Jan-08-11 11:49 AM Response to Reply #85 |
87. My post was in response to another poster |
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Art_from_Ark
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Sun Jan-09-11 09:43 AM Response to Reply #30 |
110. By the way, the Model T made its appearance in 1908 |
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safeinOhio
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Sat Jan-08-11 03:09 AM Response to Reply #27 |
41. minus the up front 3% to 5% |
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pipoman
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Sat Jan-08-11 04:03 AM Response to Reply #41 |
50. I haven't sold since the 1980s...if I do I will remember that. |
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safeinOhio
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Sat Jan-08-11 09:27 AM Response to Reply #50 |
66. try this |
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pipoman
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Sat Jan-08-11 10:06 AM Response to Reply #66 |
73. Thanks.. |
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Art_from_Ark
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Sat Jan-08-11 02:55 AM Response to Reply #26 |
35. If you bought 1 ounce of gold 200 years ago |
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lumberjack_jeff
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Sat Jan-08-11 11:56 AM Response to Reply #26 |
89. I'd buy more gold with the advances from my book; "How to live to be 100. Twice." n/t |
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WinkyDink
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Sat Jan-08-11 09:42 AM Response to Reply #13 |
69. Sell gold or silver eventually for.....what, then? Worthless dollars? Or a loaf of bread? |
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pipoman
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Sat Jan-08-11 10:13 AM Response to Reply #69 |
75. The same thing you may liquidate any asset for |
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eridani
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Sun Jan-09-11 03:34 AM Response to Reply #13 |
108. That makes no sense at all |
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Ozymanithrax
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Sat Jan-08-11 12:21 AM Response to Original message |
15. I understand there are now stores in New York where you can buy gold... |
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pipoman
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Sat Jan-08-11 12:36 AM Response to Reply #15 |
22. There have always been stores in every major city to buy and sell gold...n/t |
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Art_from_Ark
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Sat Jan-08-11 02:59 AM Response to Reply #15 |
37. Stores where you can buy gold and carry it out |
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Ozymanithrax
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Sat Jan-08-11 11:54 AM Response to Reply #37 |
88. The story I saw on the news was one where you could buy bars... |
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Art_from_Ark
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Sat Jan-08-11 12:10 PM Response to Reply #88 |
91. I see what you're saying now |
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Monk06
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Sat Jan-08-11 12:21 AM Response to Original message |
16. Put 25% of your portfolio in gold, evenly divided between investment wafer, four nines pure coin |
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pipoman
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Sat Jan-08-11 12:30 AM Response to Reply #16 |
18. I forgot Maple Leafs..they are good |
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Monk06
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Sat Jan-08-11 01:30 AM Response to Reply #18 |
25. There is a difference between trading in gold and investing. If you are investing deal only in |
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pipoman
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Sat Jan-08-11 02:09 AM Response to Reply #25 |
28. I didn't say ebay was. |
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Monk06
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Sat Jan-08-11 02:39 AM Response to Reply #28 |
31. I would love to see a link where you can buy bullion gold on eBay. You are aware that by definition |
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iamtechus
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Sat Jan-08-11 03:05 AM Response to Reply #31 |
39. You can buy 1 oz gold bars and larger silver bars |
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Art_from_Ark
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Sat Jan-08-11 03:09 AM Response to Reply #31 |
40. (Deleted message-- dupe) |
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Art_from_Ark
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Sat Jan-08-11 03:11 AM Response to Reply #31 |
42. Bullion is traded all the time by non-licensed dealers |
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Monk06
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Sat Jan-08-11 03:22 AM Response to Reply #42 |
44. Drugs are traded by non licenced dealers anywhere in the world. Let me |
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Art_from_Ark
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Sat Jan-08-11 05:04 AM Response to Reply #44 |
55. Here is what you wrote earlier |
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Monk06
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Sat Jan-08-11 11:46 AM Response to Reply #55 |
86. I am not talking about buying gold from a coin or pawnshop. I am talking about the bullion trade |
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Art_from_Ark
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Sat Jan-08-11 12:39 PM Response to Reply #86 |
95. "Investment grade bullion" |
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Monk06
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Sat Jan-08-11 08:05 PM Response to Reply #95 |
100. Investment grade bullion is four nines pure period, whether wafer or coin |
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Art_from_Ark
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Sun Jan-09-11 12:15 AM Response to Reply #100 |
103. Bullion types |
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pipoman
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Sat Jan-08-11 03:31 AM Response to Reply #31 |
45. I don't know what the rules are in Canada |
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Monk06
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Sat Jan-08-11 03:44 AM Response to Reply #45 |
47. For the third time in response I am not talking about gold trading. If I buy a Maple Leaf |
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pipoman
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Sat Jan-08-11 04:12 AM Response to Reply #47 |
51. You certainly wouldn't have to wait several years |
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Monk06
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Sat Jan-08-11 04:33 AM Response to Reply #51 |
52. Several years was a guess based on gold prices a year or so ago when they were hammered down |
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Art_from_Ark
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Sat Jan-08-11 08:04 AM Response to Reply #52 |
61. A good mining/exploration company? |
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Monk06
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Sat Jan-08-11 11:26 AM Response to Reply #61 |
81. Please Bre-X was an obvious fraud. They were cooking their assays using the own lab |
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Art_from_Ark
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Sat Jan-08-11 12:07 PM Response to Reply #81 |
90. I qualified my statement with "for the uninitiated,,," |
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Monk06
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Sat Jan-08-11 12:12 PM Response to Reply #90 |
92. You are pretty safe if you invest in juniors in reliable jurisdictions and well established |
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Art_from_Ark
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Sat Jan-08-11 03:17 AM Response to Reply #28 |
43. 90% non-numismatic US silver is not called "scrap" in the trade |
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pipoman
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Sat Jan-08-11 03:36 AM Response to Reply #43 |
46. You're right...my error...I guess it is getting too late. |
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Art_from_Ark
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Sat Jan-08-11 08:08 AM Response to Reply #46 |
63. I hope I didn't sound "snarky" with that post |
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pipoman
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Sat Jan-08-11 10:16 AM Response to Reply #63 |
76. Nope, no problem.. |
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jallo
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Sat Jan-08-11 12:23 AM Response to Original message |
17. I invested many many years ago |
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saged52
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Sat Jan-08-11 12:34 AM Response to Reply #17 |
20. my father-in-law invested many years ago, also |
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pipoman
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Sat Jan-08-11 12:34 AM Response to Reply #17 |
21. If one believes there will be further deterioation |
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jallo
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Sat Jan-08-11 12:43 AM Response to Reply #21 |
23. I have no doubt it COULD be a good investment now |
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pipoman
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Sat Jan-08-11 02:17 AM Response to Reply #23 |
29. Nobody believes in buying at the top |
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jallo
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Sat Jan-08-11 03:44 AM Response to Reply #29 |
48. I'm a contrarian. It suits me well as an investor |
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WinkyDink
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Sat Jan-08-11 09:44 AM Response to Reply #17 |
70. "It was a GREAT investment." Only if you sell it for a profit. Otherwise, it's a shiny pile. |
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jallo
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Sat Jan-08-11 01:22 PM Response to Reply #70 |
99. I sold about 2/3. The rest I have a stop loss on |
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WinkyDink
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Sat Jan-08-11 08:19 PM Response to Reply #99 |
102. My point: the SALE is why you made money. |
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lepus
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Sat Jan-08-11 10:08 AM Response to Reply #17 |
74. I agree with this also |
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Mimosa
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Sat Jan-08-11 12:31 AM Response to Original message |
19. Probably. But it's a good way to get rid of *dated* jewelry. n/t |
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girl gone mad
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Sat Jan-08-11 12:52 AM Response to Original message |
24. Once the government decided to take on the toxic debts of the failing banking cartels.. |
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Art_from_Ark
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Sat Jan-08-11 04:48 AM Response to Reply #24 |
54. You can't buy bullion direct from the Mint |
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iamtechus
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Sat Jan-08-11 02:42 AM Response to Original message |
32. It's easy to buy and sell gold and other precious metals |
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Odin2005
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Sat Jan-08-11 02:49 AM Response to Original message |
34. What goes up must come down. |
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old mark
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Sat Jan-08-11 03:56 AM Response to Original message |
49. Gold in the form of actual metal is bought and sold by dealers. The selling price is higher than |
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Art_from_Ark
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Sat Jan-08-11 07:48 AM Response to Reply #49 |
60. The closing price of gold on 1/7/11 was $1370 |
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old mark
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Sat Jan-08-11 08:54 AM Response to Reply #60 |
65. Again, it would have been a great deal if you had bought enough, and if |
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Art_from_Ark
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Sat Jan-08-11 09:37 AM Response to Reply #65 |
67. I can understand your sentiment |
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Hannah Bell
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Sat Jan-08-11 04:40 AM Response to Original message |
53. why would you buy when prices are at historical highs unless you think |
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Art_from_Ark
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Sat Jan-08-11 07:08 AM Response to Reply #53 |
56. Why buy any investment if you don't think it will go higher? |
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Hannah Bell
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Sat Jan-08-11 07:12 AM Response to Reply #56 |
57. yes, in the last big economic crisis. and it *had* run its course, until the next one, right? |
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Art_from_Ark
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Sat Jan-08-11 07:32 AM Response to Reply #57 |
59. That is a common reason individuals give |
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Yavin4
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Sat Jan-08-11 08:06 AM Response to Original message |
62. If You Don't Have Physical Possession of Gold, Then It's Worthless |
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sendero
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Sat Jan-08-11 08:19 AM Response to Original message |
64. I'll echo the sentiment.. |
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Agent William
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Sat Jan-08-11 09:50 AM Response to Original message |
71. I really to donate to DU again, because as I write this is |
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RegieRocker
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Sat Jan-08-11 09:51 AM Response to Original message |
72. Kids nothing but kids |
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Art_from_Ark
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Sat Jan-08-11 10:57 AM Response to Reply #72 |
80. Can you eat stocks? Bonds? |
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RegieRocker
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Sat Jan-08-11 11:37 AM Response to Reply #80 |
84. Covet your gold go ahead. |
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WinkyDink
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Sat Jan-08-11 08:18 PM Response to Reply #80 |
101. Stocks and bonds are tied to the value of a corporation or a state. Gold's value is simply between |
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Art_from_Ark
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Sun Jan-09-11 12:40 AM Response to Reply #101 |
105. Do you really believe that? |
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JCMach1
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Sat Jan-08-11 10:17 AM Response to Original message |
77. Buy some gold jewelry you like and wear it... At least that way if it crashes you have something! |
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Zephie
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Sat Jan-08-11 11:33 AM Response to Original message |
82. I think the best explanation of this I ever saw came from Cracked.com |
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Motown_Johnny
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Sat Jan-08-11 11:35 AM Response to Original message |
83. Gold is not an investment, it is a hedge against inflation |
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Statistical
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Sat Jan-08-11 12:36 PM Response to Original message |
94. A cynical view on gold investing. |
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Dappleganger
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Sun Jan-09-11 03:14 AM Response to Original message |
107. If the shit hits the fan, where will you sell it? |
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Rochester
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Sun Jan-09-11 04:25 AM Response to Original message |
109. Buying high, hoping to sell higher... |
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slackmaster
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Sun Jan-09-11 09:44 AM Response to Original message |
111. It's not a scam at all. It's a personal choice, an investment that carries risk like most do. |
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