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Gold...sell it or keep it???

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posted on Mar, 2 2010 @ 12:56 PM
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My buddy has some gold coins and he's wondering if he should sell them now, and use the money to buy things like ammo, canned goods, water filters, etc., or hold onto them.
Would it be wiser to have survival items after a global economic collapse, or the actual gold coins?
Thanks.



posted on Mar, 2 2010 @ 01:15 PM
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Can you eat gold, use gold to shoot a rabbit, plant a pear tree, or burn it to heat your home?

Not to be trite, but holding onto gold at this point is a fools errand. It's only a matter of time before it crashes. If he bought low, this is the time to sell high.

*** Disclaimer ***
I am not a monetary expert, nor am I a stock broker or commodities trader or in any way anyone who's opion would matter in a court of law, so all you would be and actual lawyers, back off and let me spout off my opinion for what it's worth. Thank you and have a nice day (some restrictions may apply)



posted on Mar, 2 2010 @ 01:18 PM
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Tell him I'll buy them- $100/ounce.

I also need to borrow money to help my brother who's a prince in Nigeria, if you slide another $200 for that I'll make you rich in two weeks.



posted on Mar, 2 2010 @ 01:19 PM
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reply to post by Romans 10:9
 


Tell your buddy not to come to ATS for advice regarding investing.

Best bet, I promise.



posted on Mar, 2 2010 @ 01:21 PM
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This is a debate I frequently have with my father. In my opinion, one who buys gold and/or silver as a financial solution; or for that matter even bullets and guns - has simply not made their mental image of a "worst case scenario" big enough.

Ask your friend this... Can you eat bullets? Can gold or silver coins by themselves offer nourishment?

The best preparations one can make are mental preparations. Learn new skills like foraging, tracking, hunting/fishing, sewing, cooking, the arts of fire starting, water collecting, farming. All of these cost little to nothing, and will give one the self confidence to survive even the worst "winter storm".

As for material supplies, I would have to suggest a combination of all the items you mentioned. Dont "put all your eggs in one basket" as they say. Keep some gold, say half to a quarter of his total. Use the rest to purchase said supplies, preferably supplies that need little to no upkeep, and have a looong shelf life.



posted on Mar, 2 2010 @ 01:28 PM
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reply to post by GreenBicMan
 


Well, you have to think both financially and what if?

What if they enforced the seizure of gold, AGAIN?

As for me OP, I am living off my purchase of Gold from awhile back. I sell them as I need that paper money.


Anyway, there are so many variables to consider. What will your friend do with the dollars of whatever money he would be trading it for? More investment? Or just to have the dollars?

Remember in the past, gold manipulation by the big guys, cost a lot of people and countries billions when the market was manipulated.



posted on Mar, 2 2010 @ 01:46 PM
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Couldn't really help you on the timing, gold seems to be increasing in value. Your buddy may want to consider what's going to be more valuable - more "stuff" to get through the initial craziness or something of value for trade afterwards. "The market" as it exists today quotes one price for spot bullion products (coins) and commodity contracts - but the "Cash4Gold" type outfits and pawn only pay a fraction of the spot price. Just watch gold go up in price some more.


gj



posted on Mar, 2 2010 @ 01:53 PM
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i agree with ganjoa, tell your friend to keep it.

i think tptb are behind this gold buying drive buing up all the precious metals so that when the currency is worthless ( it allmost is) we have nothing to trade. we have nothing and they still have everything.



posted on Mar, 2 2010 @ 01:54 PM
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Thanks for the replies. My friend and i both are avid hunters/fisherman. I know he's got some survival stuff put away already, but we both debate as to what the best thing to do with gold right now is.
He wants to sell it all and use the money to gear-up his survival stash more...i think he should hang on to the gold for a while longer and see what happens. If anything it seems that the price will only go up, but we are both unsure as to when/if it will hit it's peak then come crashing down and be virtually worthless.......worthless as in the SHTF and canned goods and water filters are what people are after...not gold.

[edit on 2-3-2010 by Romans 10:9]



posted on Mar, 2 2010 @ 01:57 PM
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Don't ask the ATS this question was good advice. Keep the gold. Everyone here is more inclined to believe the end of society is much closer than it probably is. It may well happen, but not for years. Gold will continue to climb in the 3 to five year picture. It is a bull market still, and could fall to 900. In five years though I expect gold to break 2500. It really depends if you need the money bad enough. If you can get by without selling it right now I would. I am actually buying gold/ silver during this dip in prices because I believe it to be a temporary correction.



posted on Mar, 2 2010 @ 01:57 PM
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Don't ask the ATS this question was good advice. Keep the gold. Everyone here is more inclined to believe the end of society is much closer than it probably is. It may well happen, but not for years. Gold will continue to climb in the 3 to five year picture. It is a bull market still, and could fall to 900. In five years though I expect gold to break 2500. It really depends if you need the money bad enough. If you can get by without selling it right now I would. I am actually buying gold/ silver during this dip in prices because I believe it to be a temporary correction.



posted on Mar, 2 2010 @ 02:03 PM
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Well I am a money and investment expert, so I could probably help. However, beforehand I would need to know if you hold other assets. Cash, stocks, real estate, commodities, etc. Also, how stable is your income?



posted on Mar, 2 2010 @ 02:04 PM
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Hey btw, what does TPTB stand for? Never seen that before i came to ATS.



posted on Mar, 2 2010 @ 02:06 PM
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Gold would be good for moving around enough wealth to buy something big or a bribe.Silver for day to day stuff,old coins preferably dimes.Like gas.Looks like they're going up right now.

Have you heard about the gold plated tungsten bar thing?If it's true gold is going up to 2500+ for sure.



posted on Mar, 2 2010 @ 02:06 PM
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I liquidated all my metal both hard and futures and put that $$ back into the stock MkT and rental property. Call me an optimist.

If the doom and gloom guys are right; I have a nice stash of tranquilizers and pain pills....and guns!

If you can afford to; play both sides of the street.

If the shtf scenario occurs, I doubt if the barter system will hold up. The meanest guys with the biggest guns will just take what they want from the weak. Civilization is just a thin veneerer on basically a savage, bloodthirsty, primitive species.



Mad Max....It'll be fun!!!








[edit on 2-3-2010 by whaaa]



posted on Mar, 2 2010 @ 02:08 PM
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Originally posted by johnny2127
Well I am a money and investment expert, so I could probably help. However, beforehand I would need to know if you hold other assets. Cash, stocks, real estate, commodities, etc. Also, how stable is your income?


He's got a good paying stable job in the oil & gas industry. I know he owns his own land, (couple of acres i think), out in the country.
As far as i know he only deals with cash, and the gold is his only 'investment'.
I think his gold is worth around 10 G's.



posted on Mar, 2 2010 @ 02:14 PM
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TPTB "The Powers that Be"

We haven't seen inflation rear it's ugly head yet and buying gold to quote the commercial is the "Hedge" against this. I'm buying silver right now, I think it still has alot of room to grow in value and it's obviously more affordable.



posted on Mar, 2 2010 @ 02:15 PM
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Originally posted by Romans 10:9

Originally posted by johnny2127
Well I am a money and investment expert, so I could probably help. However, beforehand I would need to know if you hold other assets. Cash, stocks, real estate, commodities, etc. Also, how stable is your income?


He's got a good paying stable job in the oil & gas industry. I know he owns his own land, (couple of acres i think), out in the country.
As far as i know he only deals with cash, and the gold is his only 'investment'.
I think his gold is worth around 10 G's.


Gold is easiest to decide upon when it is used as a hedge for various things. That could be inflation, stagflation, dollar depreciation, market crashes, etc. Without knowing your friend's situation well, and with the description you gave above, I can only tell you what I would do. I would hold on the the gold personally as a sort of safety net if the SHTF. There is more reason for gold to continue rising than have a major decline. Of course like any asset, it will go up and down, with 10-20 volatility being pretty normal. Its easier to accumulate bullets than actual gold coins, so I would hold on to them. Where this would change is if you see deficits go to nearly zero, unemployment drop below 8%, and the US adopts a strong dollar policy. Absent those things, with the decent of the dollar you with have the ascension of gold. Adjusted for inflation gold is still far below in 1980's high.



posted on Mar, 2 2010 @ 02:22 PM
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Listen, I'm a jeweler. I buy gold from people off the street on a daily basis.

Listen to me when I say KEEP THE GOLD!

I buy it from people for nothing, then I save it till I have enough, then bring it to a refinery. I make a killing.

I know gold coins are a different ballgame, but trust me, keep them as long as you can.

They will only go up in value (possible more than double).

Right we are having a repeat of the 1930's... People are being convinced to get rid of their gold while the price is still down.
We aren't being forced yet by the government, but I'm telling you that is the next step.

Gold is going to go up to over $2000 an ounce as our dollar goes down in value.

Keep your gold, it will be the only thing of value you will have left.



posted on Mar, 2 2010 @ 02:22 PM
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Well hold on to it unless he really is in need for the money. His best bet if he is going to sell is to get it refined first, it will actually give him a heck of a a lot more money for it. He can get gold refined fairly cheaply. Most of those buy gold companies only pay you about 20% of the golds actual value when it's not refined. Take care.




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