Investing in GOLD for the long term?

I was recently reading a crypto currency thread and one of the people on there started talking about investing in gold bullion.
My husband is currently doing some mining and we are trying to diversify our investments. We have some real estate, purchasing an RV for rentals, he is mining, and we of course have the normal 401k and stocks.

I have recently started earning a fairly good income and we now have money that we had never had before. So we are trying to be smart about it. However, my income is commission based and tomorrow’s paycheck is never promised. We are trying to set ourselves up for success if/when my pay diminishes.

My questions are - is gold a good long term investment and where is a trusted source to buy it? What is the best form to buy it in?


I have read a few threads here that are on this subject but, most of them are fairly old, (more than 2/3 years). I trust my ATS family to lead me in the right direction. Hit me with all the info you have good or bad.

I dont see gold as a investment its a baseline if gold is going up the currency your comparing it to is really just going down

Crypto is gambling but if your minning thats the best move you can make

The rv ... as someone who was a rv tech for one of the biggest rv rental company's in America get away from that

Circling back to crypto minning remeber eth minning will stop within a year or 2 ... but I dropped 1k on a card a couple months back and have already hit my roi it just depends on how you play it

How would one get actual psychical gold? And when it's time, how would you actually sell it or use it to barter?
Lot's of places sell what they call gold reserve certificates, yea that's just a piece of paper that you just got hoodwinked out of cash for.

a reply to: Doodle19815

My questions are - is gold a good long term investment

Depends on the context of investment, and the intentions of such.

Are you trying to make money on an appreciating asset, or are you trying to keep money in a store of value?

I think it's great for the latter, not so much on the former.

Gold has a pretty consistent value, it's just the fiat currency that it's priced against that gives the illusion of appreciation.

Now, that's just how I view it, we could be one discovery away from a huge demand for gold in a new application, or supply might start to slip exponentially... But I think it's better to treat it how it's been, a store of value.

a reply to: markovian

We will be using the RV ourselves and renting it out when not needed. We travel a lot and spent a fortune on RV rentals last year. We are traveling with horses so hotels are out of the question.

If he makes a return on mining, I’ll be happy. I honestly don’t understand much about it. I’ve had my head stuck in real estate too much to learn about crypto.

a reply to: GuitaristRob

Gold coins and bars are available for purchase at lots of places. I just don’t know who is trustworthy.

As far as selling, I wouldn’t know because I’ve never had any to sell.

a reply to: CriticalStinker

I think I’m looking for a better way of keeping ahold of my money other than just letting it sit in the bank. The interest it will get there is minimal. If I threw a few gold coins/bars in my safe and pulled them out in 30 years, would it have been a wiser choice to have the gold, or the interest from the bank?
Obviously we don’t have crystal ball to see the future with. I’m just trying to make the best educated decision that I can.

a reply to: Doodle19815

OK,

First and foremost: Buy Food and Water storage period. What do you need money for? Food Water Shelter

Second: No Debt. Pay off all debt after securing food, water, shelter, and protection.

Now, worry about investments.

I diversify. I have beans and bullets for worst case, silver and physical assets for lesser case, crypto, stock, 401K.


We cannot plan for every given situation, plan for the worst first. Then diversify.

originally posted by: Doodle19815
As far as selling, I wouldn’t know because I’ve never had any to sell.

#1 - If done right, there's no inheritance tax on precious metals.
#2 - There is no number two.

If I were you, I'd try to find segmental rounds, and only make a bullion investment if you seriously believe the country will abandon fiat currency.

a reply to: infolurker

Mostly debt free. Working on finishing that little bit up really soon. I’ve been around here long enough to know some prepper tricks. Bullets, canned/dried food in my root cellar, seeds, generator, solar powered devices, and 100 gallons of water storage are already part of my “assets”. FYI - 100 gallons doesn’t seem like much but, I live by flowing water as well. (And a cow farm down stream...)


Just looking at maybe leaving my kids a little something or having something later down the road to pay bills with if needed.

originally posted by: Doodle19815
a reply to: GuitaristRob

Gold coins and bars are available for purchase at lots of places. I just don’t know who is trustworthy.

As far as selling, I wouldn’t know because I’ve never had any to sell.

Ebay is a fair place to start. You can easily check the reputations of the sellers, and many of the larger bullion sellers are on there as well. You'll find that most bullion consistently sells for a small percentage over spot among sellers. Sometimes you can find good deals, but Ebay buyers are pretty sharp and not much gets by.

Specialty coins will go for more, of course. When I buy those I tend to hold them longer because they usually have some sentiment for me: Star Trek coins and medallions, Star Wars, Marvel, etc. I pay way more than spot, but they always go up in value. Good long term investments.

On more than one occasion I've found myself in a financial pinch where I just needed a few bucks to tide me over. If I need a short term loan, I can take the bullion to a pawn shop. Rates are high, but the money is quick. They will loan you about half the value of the bullion for about 30% per month. If you only need a small amount for a short time, and you have no other way to go ...

If you want to sell some bullion, any decent city will have a few coin dealers who will happily buy for a small amount below spot. The larger bullion dealers will also buy, but, of course, it will take a little longer.

Then, there is always the problem of storage, especially if you travel a lot. I'd hate to drive through one of those little towns where the tourist trade is primarily Civil Asset Forfeiture.

a reply to: Doodle19815
If your set on this get a old bus and convert it or a old airstream

The one thing I can't recomend you do is to buy a rv much less rent it out imagin how you would fell when something dose go wrong and it will ... strapping a gray water tank back on a rv is no fun doing it knowing the last one killed someone is even harder

originally posted by: CriticalStinker
a reply to: Doodle19815

My questions are - is gold a good long term investment

Depends on the context of investment, and the intentions of such.

Are you trying to make money on an appreciating asset, or are you trying to keep money in a store of value?

I think it's great for the latter, not so much on the former.

Gold has a pretty consistent value, it's just the fiat currency that it's priced against that gives the illusion of appreciation.

Now, that's just how I view it, we could be one discovery away from a huge demand for gold in a new application, or supply might start to slip exponentially... But I think it's better to treat it how it's been, a store of value.

Gold is extremely valuable. Alot of electronics rely on it.

a reply to: markovian

If you are ok with it, I may private message you before we bight the bullet on the RV. I’m already hauling a LQ horse trailer around and am pretty familiar with the headache that comes along with it. Never lost my tank and killed anyone though thankfully!

a reply to: VictorVonDoom

Thank you for that insight!

a reply to: Doodle19815
I dont mind giving you my thoughts when you do but I would recomend a rv tech that is still in the industry to guide you they know the flaws newer models have

Never drive with your tanks much past half full make shure your tires are actualy rated for highway speeds and never run your gen when your sleeping thats the main things that cost lives rv owners rarly make thease mistakes renter's on the other hand do all the time

a reply to: Doodle19815

Gold is... as good as gold!

I had success w these guys:

bullionexchanges.com...

You can purchase in BTC. But best prices are w check/wire/ACH.

Usually the larger the item the best gold/money ratio but not always the case e.g. 1 oz Bar is more bang for buck than 10g bar. I did the research and your best bang for the buck is to get generic (which means they send you whatever they want), but I would always request something in the original plastic sleeve if available. You could spend extra for new or fancy looking bars but when it comes time to sell, it’s all pretty much worth the same, so the extra money you spent goes down the drain.

I would recommend the largest and cheapest bars you can get.

a reply to: nOraKat

Thank you! The generic part on some of the advertisements have thrown me off. Wasn’t sure if it was a good route to take or not.

a reply to: Crackalackin

Gold is very valuable... Which is why it's a good store of value.

My point was is the value of it is relatively static compared to other investments.

If you look at the price of gold adjusted for inflation, you'll see its the USD and other fiats changing in value moreso than gold.


Again, there are catalysts like discovery of new applications for gold increasing demand or supply chain problems reducing supply that could change the trends.... But I would approach gold with the intent of preserving money, not making it to shield myself from disappointment.

I'm not some investing genius though, this is just my take.