Gold & silver prices

[repete]

Any one on here been buying gold or silver? With the sky high prices lately I thought I should take a look and see what was in my little stash of silver coins. I was shocked! I have a little over $100 in face value that comes out to about $3000-3500 HOLY CRAP!
I've never even made much of an effort to collect them, just when I came across them I set them aside.
The real question is do I cash them in or hang on to them? HMMMNN, big gun show comeing next month, I bet I'd have no trouble at all reinvesting it in other metals.

[Mr. Ford95]

Gold is said to be over valued right now. Nearly $2K for an ounce. Platinum is the same. Silver is $43 per ounce. Everyone is buying into Gold and Platinum because they are "supposed" to be the safest bet for investing which is why they are apparently over valued. Not that anyone who bought into Gold a long time ago is complaining.

[One]

look at it like this: when things really get bad- who will buy your gold and does gold taste better fried or boiled?

[Roadhog]

I have a 50 year old coin collection that is hard to lift, so it must being doing pretty good also. I'm also always low on blued steel or knife steel, and wouldn't mind trading some shiny stuff for it... but so far all I can seem to let go is whatever scrap brass, copper, aluminum, inconel, and tin piles I've saved up. Last trip to the scrapyard was in April, and I fetched $260.

I'm mad at myself for not buying a $5000 sliver bar I looked at last winter. I am fine with saving stuff I find or come by easily, but planned investments has not been found yet in my DNA.

I'm sure prices will jump around as the Yen and Dollar rise in value and oil comes down over the next month. Gold is still going to provide that safe haven investors need right now, but also supply and demand should push the price even higher. Inflationary and crisis scenarios will keep prices high, and demand will push it even further, if it outpaces gold production, like it is right now.

[Jackrabbit379]

I've thought about maybe finding some gold around the house, and calling those people you see on TV....
I wouldn't have a clue how much gold is now days, but they sure have a lot of those commercials on TV.

[repete]

I've thought about maybe finding some gold around the house, and calling those people you see on TV....
I wouldn't have a clue how much gold is now days, but they sure have a lot of those commercials on TV.

I have nothing to base this on BUT I'll give it to ya anyway. There paying for the TV time some how, chances are from the money they don't pay out to customers. Take it to any well known jeweler I bet you'd get a better deal.

[repete]

[QUOTE=Roadhog;502110]D I'm also always low on blued steel or knife steel, and wouldn't mind trading some shiny stuff for it... but so far all I can seem to let go is whatever scrap brass, copper, aluminum, inconel, and tin piles I've saved up. Last trip to the scrapyard was in April, and I fetched $260.

I'm mad at myself for not buying a $5000 sliver bar I looked at last winter. I am fine with saving stuff I find or come by easily, but planned investments has not been found yet in my DNA.




If I ever get around to takeing some pics I'll post them of my newest toy er a I mean investment, a high blue ingraved with gold inlay 1911.

I looked at some gold and silver about a year ago and said nope to high, dang I could've made some quick green there!

Last week I while cleaning out my junk filled garage I pulled out an old GM cat. converter, a few lbs of copper and brass 2 old batteries and tossed in a 5 gal bucket of steel drops= almost $200. That almost made up for haveing to clean the garage!

[Roadhog]

I remembered I have a silver dining set.
I weighed it at 10 lbs. Forgot all about it.

Man, I am having trouble posting here today.

[Mr. Ford95]

Jack, don't do those TV ads you see. They shortchange you like crazy. NBC4 in DC did a little special on it, they found that the TV companies did not give you anywhere close to what market value is and you had no way of getting YOUR gold you sent them back.

[MichiganDriver]

I saw a similar story on tv and big rip is right. That begs the question though - where can someone get a decent price for gold?

[GMAN]

We have a lot of shops around town that buy gold. You may check in your area. I am sure some will be around.

[repete]

I saw a similar story on tv and big rip is right. That begs the question though - where can someone get a decent price for gold?

Check all your LOCAL shops, don't take the first offer(of course) most offers should be close together

[Jackrabbit379]

Jack, don't do those TV ads you see. They shortchange you like crazy. NBC4 in DC did a little special on it, they found that the TV companies did not give you anywhere close to what market value is and you had no way of getting YOUR gold you sent them back.

I'm not planning on it. I like watching those TV ads. So funny..
I'm sure it's a scam of some sort. Seems like they wouldn't make any money if they paid out like they say they do.
Seems like the ads on TV now days are better than the TV shows themselves

[One]

If u actually buy gold u pay a premium, far above the traded rate, so go ahead and waste your money on a scam. If you really want to cash in on rising gold prices, you buy gold shares, not gold itself. Sometimes it is the same people that stand to get rich that spread fear about the economy and offer a 'safe haven' at the same time. When you are afraid you do not make rational decisions, but rely on fight or flight instinct. Pay attention to the media when economic reports are issued and how close behind a gold commercial appears...conincidence?

[Jackrabbit379]

After reading this thread, I've noticed a lot of places in town that have signs and stuff, saying, 'We buy gold!'

[Windwalker]

From everything I see, if you do have gold or silver, you'd be smartest to hold onto it, and don't let anyone know you have it. The price of gold, silver, and platinum is going to go up much more in the near future. Actually, it's not the price of the metals that's going up, but the value of the dollar that is going down. And, in the next few years (if someone doesn't get a whole lot more intelligence and common sense) the bottom will drop out of the US Dollar. When that happens, gold, silver (probably your best investment), and platinum will skyrocket.

A lot of the places that are currently buying gold are reselling it for a profit, but there are a number of them that are also melting it down and stockpiling it for the future. For the last 50 years, or so, the US Dollar has been the "world reserve currency". That's why oil is traded in US Dollars. But countries like China, Japan, and France are looking for a different currency as their reserve. If the US Dollar loses it's status, your costs are going to go up like never before. Over the next 20 years, or maybe less then 10, the value of the dollar will plunge, so the price of gold will cost a lot more dollars. Those that are selling off their gold and silver now will wish they had not. And, while gold may go up 200 to 300 times over, actually silver may go up 800 %. The economic crisis is far from over, and the future may make the "great depression" of the 30s look like a walk in the park.

Yes, there are a lot of places that are buying gold and silver at a nice price, but I would not advise selling what you have. The future of the US Dollar looks bleak. With all the borrowing the US is doing, and printing more money, the dollar is headed for collapse. You'll want something that will hold it's value around the world.

[Mr. Ford95]

Gold slumps at record rate:

Gold slumps record $100; stocks edge up - Yahoo! News