How Does One Actually Buy Gold?

[C-Mag]

Ron Paul doesn't even know what a checking account is.

(neither do I)

He also doesn't apparently know that $10,000 doesn't even buy you one bitcoin right now, they're going for over $15,000 CAD, so that's like what? $12,000 USD?

Never mind bitcoins, they're gonna start making bitcoin futures contracts next.

I have several thousand dollars in Blockbuster Video stock. My trick is to keep holding onto the stock until it goes waay up. Then, I sell it.

Im doing the same with my asbestos futures.

[SuburbanFarmer]

Here's an interesting question posed by your Crazy Uncle Ron on the Twitter this afternoon:



There's obviously no "correct" answer. I guess if we assumed some constant for the grantee (age, family, wealth, health, &c) we could try to work towards a "best" answer. I would definitely argue that there are one or two "terrible" answers. YMMV.

For me, I would lean to the gold for some personal family reasons; but the bitcoin is pretty attractive if you are willing to take a substantially non-zero risk of having a worthless payout.

What say ye?

What do you think the results would be if you changed the question to increase the amount tenfold and included a choice for "land"?

With a small amount like that and no option for land, anybody with an IQ above 100 is going with gold. But make the changes above and I think most go for the land. Land is better in every way right now.

If gold falls in price, then sure, it could flip. The way I used to look at gold is it's worth in acres of productive land away from urban land speculation. That tells you the story.

Obviously, land would be good, but I’ll have to wait until the next market crash. Prices are peaking right now, big time.

[heydaralon]

He also doesn't apparently know that $10,000 doesn't even buy you one bitcoin right now, they're going for over $15,000 CAD, so that's like what? $12,000 USD?

Never mind bitcoins, they're gonna start making bitcoin futures contracts next.

I have several thousand dollars in Blockbuster Video stock. My trick is to keep holding onto the stock until it goes waay up. Then, I sell it.

Im doing the same with my asbestos futures.

[Speaker to Animals]

Purity doesn't matter that much. What matters is the gold content. That's what people are paying for if you go that route.

I still think you are better off with numismatic markets over time, though it takes a lot more work and research to know what to buy and when. Such a coin has the spot price of the gold built into the value, plus the additional value from the numismatic market.

It's MUCH more difficult to sell them like that, however. With straight bullion, you can sell it in minutes around town if you really need to. Gold and silver bullion is a much more flexible and fast way to store the wealth. But not as much to gain.

I was sitting on something like thirty ounces of gold from the late 90s and early 2000s. I slowly lived off that during the divorce and disability. I realized a decent profit in USD terms, but missed out on it going up to 1400.00 from the 200-300 I spent on them. I lost most of the really valuable numismatic pieces.

I still have the circulation coins, and those are worth a little, I guess. But the market is really depressed now. It's better to buy these days.

[C-Mag]

A friend of mine uses bullion as an emergency fund. You never spend it on frivolous stuff, but its always there when you need it.

[Speaker to Animals]

A friend of mine uses bullion as an emergency fund. You never spend it on frivolous stuff, but its always there when you need it.

Exactly. Kept me afloat for a while there.

[C-Mag]

Ive been lucky, never had to use mine. I set out with a goal of having 3 months of expenses stored in metals. Im inching closer to that goal. Its a great way to diversify savings. If the market is up your 401k is doi g well. If the market crashes, your metals jump and cover the gap.

[Hastur]

https://catalog.usmint.gov/coins/gold-coins/
https://catalog.usmint.gov/bullion-dealer-locator

[Speaker to Animals]

Apmex

[SuburbanFarmer]

Apmex

Apmex looks pretty dope, actually. But ideally, this would be a cash purchase.

Besides, how would you even take delivery? Is the UPS guy going to carry gold bars to your door??