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Tractor Talk Discussion Board

Re: OT- Gold coins for investment ??


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Posted by Gun Guru on April 25, 2010 at 03:56:52 from (66.227.197.252):

In Reply to: OT- Gold coins for investment ?? posted by jCarroll on April 24, 2010 at 17:04:05:

Just some thoughts here. Gold is an okay investment, but to buy gold coins is not the best way to do it, you may want to buy shares of a precious metals mutual fund or something on that order. A friend of mine comes from a wealthy family, his dad is worth about 10 million dollars, and he has about 30-40 thousand worth of gold bars, not practical but he is wealthy and stores the gold in his home. But paying 15% over the base cost would not be worth it to me. Besides talk to a bank and see if they can redeem gold/silver coins if the entire US economy gets real bad, like food shortages, gasoline goes to $15 bucks a gallon, etc. If it were me I would want silver coins in 1 ounce denomanations, and an ounce of silver is about 25 dollars. And an ounce of gold is 1000 dollars, not real practical to trade with. But I understand your point in that the US greenback is only a piece of paper that is only backed up with a % of gold in the US treausury dept.


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