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Getbig Main Boards => Gossip & Opinions => Topic started by: El Diablo Blanco on April 03, 2017, 09:50:33 AM

Title: New Financial advise on Gold Coin Purchase
Post by: El Diablo Blanco on April 03, 2017, 09:50:33 AM
There are some smart guys on here so curious on your take.  The US Mint is releasing 100,000 - $100 face value  99.99% pure 1 ounce gold coins to mark it's 225th anniversary on April 6.  It's the second time they've released coins this pure.  It's also the first of a Series in the Lady Liberty line where she's not white.  She's going to be a black woman and every two years they're going to release Asian-Americans, Hispanic-Americans, and Indian-Americans.

Currently gold is $1200 an ounce and coins are marked up I believe 10-20%.  So it will be about $1400-1500 a coin.  Is this a decent long term investment?  I have stocks and other shit but want some tangible I can hold and lock away in a safe for a long time.


Just your thoughts on this.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: Yamcha on April 03, 2017, 09:51:45 AM
x2.

Would like to invest in gold too
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 09:52:24 AM
"There are some smart guys on here"

lol
 :D :D :D :D :D :D :D :D :D :D :D :D :D :D
Title: Re: New Financial advise on Gold Coin Purchase
Post by: El Diablo Blanco on April 03, 2017, 09:52:55 AM
Here's the coin.  I don't care that she's black, ugly  or whatever.  I'm more interested in the value as a collector.  I do plan on getting the whole collection over the next 10 years

(https://static01.nyt.com/images/2017/01/14/us/14coinX_xp/14coinX_xp-master768.jpg)
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 09:54:42 AM
yeah right

the minute you hear about a BLACK WOMAN on a coin you wanna buy it!!

i bet if one went through your surf history one would find a lot of interracial
Title: Re: New Financial advise on Gold Coin Purchase
Post by: El Diablo Blanco on April 03, 2017, 10:00:39 AM
yeah right

the minute you hear about a BLACK WOMAN on a coin you wanna buy it!!

i bet if one went through your surf history one would find a lot of interracial

I was really hoping for a tranny ::).  I'm betting that the controversy plus the special release will give this some value, but then again collectors years from now may not want this coin because she's black.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 10:04:37 AM
i'd love to see rich piana on the gold coin!
Title: Re: New Financial advise on Gold Coin Purchase
Post by: Tedim on April 03, 2017, 10:10:59 AM
There are some smart guys on here so curious on your take.  The US Mint is releasing 100,000 - $100 face value  99.99% pure 1 ounce gold coins to mark it's 225th anniversary on April 6.  It's the second time they've released coins this pure.  It's also the first of a Series in the Lady Liberty line where she's not white.  She's going to be a black woman and every two years they're going to release Asian-Americans, Hispanic-Americans, and Indian-Americans.

Currently gold is $1200 an ounce and coins are marked up I believe 10-20%.  So it will be about $1400-1500 a coin.  Is this a decent long term investment?  I have stocks and other shit but want some tangible I can hold and lock away in a safe for a long time.


Just your thoughts on this.

whats the discount for being black and a woman 20-25% off?
Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 10:13:12 AM
"Buy an index fund and go back to work" - Warren Buffett
Title: Re: New Financial advise on Gold Coin Purchase
Post by: SOMEPARTS on April 03, 2017, 10:15:29 AM
"Buy an index fund, make me rich - and go back to work" - Warren Buffett
Title: Re: New Financial advise on Gold Coin Purchase
Post by: denarii on April 03, 2017, 11:07:57 AM
if you want to buy gold cant just ask around a few pawn shops and see if you can buy coins at no premium?
Title: Re: New Financial advise on Gold Coin Purchase
Post by: calfzilla on April 03, 2017, 12:39:55 PM
"Buy an index fund and go back to work" - Warren Buffett

Title: Re: New Financial advise on Gold Coin Purchase
Post by: Rambone on April 03, 2017, 01:10:18 PM
Learn the futures/commodities domain and if you're bullish gold, buy a /GC future, sell puts in it, or buy GLD ETF which would be the easiest option since you wouldn't have to manage it. I'd never buy stuff that is marked up. That's ridiculous. No wonder they have money to constantly run their gimmicky commercials. A gold futures contract is 100 ounces, so the notional value of that contract is about $120,000 and would only tie up around $5000 in capital. But like I said, I'd learn the domain before jumping into futures trading. Tangibility means nothing and is used to sell marked up coins.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: TuHolmes on April 03, 2017, 01:18:52 PM
There are some smart guys on here so curious on your take.  The US Mint is releasing 100,000 - $100 face value  99.99% pure 1 ounce gold coins to mark it's 225th anniversary on April 6.  It's the second time they've released coins this pure.  It's also the first of a Series in the Lady Liberty line where she's not white.  She's going to be a black woman and every two years they're going to release Asian-Americans, Hispanic-Americans, and Indian-Americans.

Currently gold is $1200 an ounce and coins are marked up I believe 10-20%.  So it will be about $1400-1500 a coin.  Is this a decent long term investment?  I have stocks and other shit but want some tangible I can hold and lock away in a safe for a long time.


Just your thoughts on this.

Personally, if you are going to invest, then you should just get into buying gold from people. I have a couple of friends who bought their own equipment and just make their own gold bars.

Get it hot enough to burn out the impurities and you're good to go. You could also do it with Silver. Don't go buying it from anyone for actual cost. Do what the gold buyers do and give people back a percentage of the value of their gold or whatever. Don't pay retail.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: doggler on April 03, 2017, 01:31:14 PM
 ::) ::)

Why take a financial advice  from random getbigger when you have getbig legend Vince Goodrum ?
Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 01:35:20 PM
The Oracle of Omaha

Title: Re: New Financial advise on Gold Coin Purchase
Post by: mphgrove on April 03, 2017, 01:38:14 PM
My own opinion: not a great investment choice.  Go with stocks, bonds, real estate, etc. first.  That said, I have seven or eight gold coins in my safe deposit box. If I get some extra cash along the way, I sometimes take $1200 into the gold dealer and buy a coin I like and just pay the commission which is pretty steep. It is fun to get the coin which you can touch and feel.  I don't buy jewelry so it's kind of like that. Then I tuck the coin away at the bank. I've never made much on them but it's kind of rainy day spending source in case things got REALLY bad out there.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: TuHolmes on April 03, 2017, 01:57:02 PM
My own opinion: not a great investment choice.  Go with stocks, bonds, real estate, etc. first.  That said, I have seven or eight gold coins in my safe deposit box. If I get some extra cash along the way, I sometimes take $1200 into the gold dealer and buy a coin I like and just pay the commission which is pretty steep. It is fun to get the coin which you can touch and feel.  I don't buy jewelry so it's kind of like that. Then I tuck the coin away at the bank. I've never made much on them but it's kind of rainy day spending source in case things got REALLY bad out there.

Met a guy through some friends... They called him "Silver Guy".

He would save up tons of cash during the downturn, buy silver bars from my friends, and then bury it in his backyard under a tree.

Asked about him when I talked to my friends last time. Dude hasn't been seen or heard from in a couple of years.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: Mr Anabolic on April 03, 2017, 03:51:26 PM
The Oracle of Omaha



This crony old coot is a bankster/Fed reserve/status quo shill... fuck him.  Do yourself a favor and read about Warren's father Howard Buffet, who was a very intelligent, honest man with integrity.

Howard Buffett strongly supported the gold standard because he believed it would limit the ability of government to inflate the money supply and spend beyond its means.[14] His son Warren Buffett is not an advocate of the gold standard

Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 03:57:52 PM
This crony old coot is a bankster/Fed reserve/status quo shill... fuck him.  Do yourself a favor and read about Warren's father Howard Buffet, who was a very intelligent, honest man with integrity.

Howard Buffett strongly supported the gold standard because he believed it would limit the ability of government to inflate the money supply and spend beyond its means.[14] His son Warren Buffett is not an advocate of the gold standard



The amount of money you spent on gold would be much better served invested in food, ammunition, silver and copper which would be far more useful in a doomsday type scenario.
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 04:05:16 PM
The amount of money you spent on gold would be much better served invested in food, ammunition, silver and copper which would be far more useful in a doomsday type scenario.

you forgot steroids

i think its safe to say than when the shit hits the fan and it will be between the natural and the juiced the juiced will prevail!!!

IN THE FUTURE

EARTH WILL HAVE A DIFFERENT NAME

JUICE WORLD!!!

ALL HAIL THE JUICERS OF THE NEW DAWN

Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 04:06:53 PM
you forgot steroids

i think its safe to say than when the shit hits the fan and it will be between the natural and the juiced the juiced will prevail!!!

IN THE FUTURE

EARTH WILL HAVE A DIFFERENT NAME

JUICE WORLD!!!

ALL HAIL THE JUICERS OF THE NEW DAWN



22s will be the norm
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 04:09:09 PM
im getting pumped just by thinking of it

what if doomsday come sooner rather than later

it will take some times for the JUICE to kick in

i feel an urgency!!!

Title: Re: New Financial advise on Gold Coin Purchase
Post by: Mr Anabolic on April 03, 2017, 04:09:56 PM
My own opinion: not a great investment choice.  Go with stocks, bonds, real estate, etc. first.  That said, I have seven or eight gold coins in my safe deposit box. If I get some extra cash along the way, I sometimes take $1200 into the gold dealer and buy a coin I like and just pay the commission which is pretty steep. It is fun to get the coin which you can touch and feel.  I don't buy jewelry so it's kind of like that. Then I tuck the coin away at the bank. I've never made much on them but it's kind of rainy day spending source in case things got REALLY bad out there.

Stock and bonds are paper instruments with no tangibility.  RE (along with stocks and bonds) are in a the biggest bubble in history... mostly precipitated by federal reserve stimulus (about $4-6 trillion pumped into the stock market since 2009 to keep it afloat).   When these bubbles pop, people aren't going to know what hit them.  

It's good to have some cash on hand (in a fireproof safe) in case of emergencies.  

Gold and especially silver are fairly cheap right now.  I always buy on the large dips.  I've been buying silver since 1985 and gold since 2004.  

The gold coin the OP is asking about is overpriced.  All commemorative coins (like the one above) do not appreciate all that much unless they have errors or they are extremely low mintages.  Gold will always be worth something.  If you like the coin, buy it for that reason, but not for investment purposes because it will not appreciate all that much.  If I was going to spend $1400-1500, I'd rather put it into a MS graded $20 Double Eagle.  I prefer the St Gaudens $20 gold coins (1907-1933) for investment purposes.  You are purchasing a piece of true history.    
Title: Re: New Financial advise on Gold Coin Purchase
Post by: Mr Anabolic on April 03, 2017, 04:12:44 PM
The amount of money you spent on gold would be much better served invested in food, ammunition, silver and copper which would be far more useful in a doomsday type scenario.

I already have all that stuff... in significant amounts.  Last time I took count, over 20K rounds of ammo. 
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 04:13:02 PM
whatabout gold teeth?

then you can have a good investment and a great look at the same time

(https://www.whudat.com/news/images/flavor_flav_big.jpg)
Title: Re: New Financial advise on Gold Coin Purchase
Post by: ratherbebig on April 03, 2017, 04:14:06 PM
I already have all that stuff... in significant amounts.  Last time I took count, over 20K rounds of ammo. 

whatabout pre workouts?

how you gonna survive doomsday when you lack the energy?
Title: Re: New Financial advise on Gold Coin Purchase
Post by: Mr Anabolic on April 03, 2017, 04:22:36 PM
whatabout gold teeth?

then you can have a good investment and a great look at the same time

(https://www.whudat.com/news/images/flavor_flav_big.jpg)


Those are only 10 karat (42% gold) gold capping and it doesn't have much weight to it. 

22-24K gold is the real deal. 
Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 05:04:27 PM
I already have all that stuff... in significant amounts.  Last time I took count, over 20K rounds of ammo. 

And I've had a deep appreciation for your posts for years now but all the things you list are simply insurance.

Not investments.

@5:00

"Ever since I got out of school someone gave me 10 reasons why you shouldn't buy stocks. But the world does not belong to the pessimists."


Title: Re: New Financial advise on Gold Coin Purchase
Post by: Mr Anabolic on April 03, 2017, 05:40:13 PM
And I've had a deep appreciation for your posts for years now but all the things you list are simply insurance.

Not investments.

@5:00

"Ever since I got out of school someone gave me 10 reasons why you shouldn't buy stocks. But the world does not belong to the pessimists."


It's all about timing my friend... it has nothing to do with optimism or pessimism.  

All markets are in a huge bubble right now and I want very little exposure to risk.  

When the fear is high and there is blood in the streets, you should be in.  When euphoria and greed have taken over, you should be out.  Not quite there yet, but we're close.  It's better to be months/years early than 1 second too late.  


Title: Re: New Financial advise on Gold Coin Purchase
Post by: polychronopolous on April 03, 2017, 05:49:06 PM
It's all about timing my friend... it has nothing to do with optimism or pessimism.  

All markets are in a huge bubble right now and I want very little exposure to risk.  

When the fear is high and there is blood in the streets, you should be in.  When euphoria and greed have taken over, you should be out.  Not quite there yet, but we're close.  It's better to be months/years early than 1 second too late.  




Warren Buffett's take on driverless cars.

"If you asked me to take the over/under on 2030 what percentage of cars that are driverless at 10% I would take the under.

@:38

Title: Re: New Financial advise on Gold Coin Purchase
Post by: SF1900 on April 03, 2017, 06:03:57 PM
The only opinion that matters.

(http://i43.tinypic.com/ac5phi.jpg)