Posted on 03/14/2008 10:14:39 AM PDT by LibWhacker
“Liberty Walking gold pieces”
If those are one ounces pieces she was taken at $1150 total.
My family owns a small gold claim in Idaho. At $1,000/ounce, it has become worth it to spend the summer working the claim.
No kidding. Even the new ones are selling at $1037 each.
I was advised NOT to buy GOLD when it was $300 an ounce....
Regardless of its volitility, with wars, chicken little economic forcasts, and constant media hype of "all bad news-all of the time", GOLD is a fair investment.
“I was advised NOT to buy GOLD when it was $300 an ounce....”
Yes, there were/are a lot of advocates fiat money (anti-gold) voices here on FR, which is quite sad.
The bikes are all tweaked and everything I need is within one mile radius of the house.
No, I'm not kidding.
I was advised on this board not to buy at $400, but I did anyways. I was told to sell at $500, $600, $700, etc... I did not. The same for Silver since I bought it at $7.
Some people just don’t get it. Until the dollar reverses it’s trend and we stop spending more than we make, investments like metals will keep climbing.
Really? Odd. I would've if I had had the money to.
Now at $450, I probably wouldn't have, and almost certainly not after $700. 20/20 Hindsight.
Hey, I didn't think silver was a bargain at $6.00-$7.00 which was almost double its low from the 90s.
And, no, I won't invest now because I just have to believe that it couldn't get worse. (even if I think it will)
Some years ago I had an opportunity to talk to a gold mine owner in Michigan. He could make a profit if the price stayed over $400 per ounce. The process was:
1 hard rock shaft mining. Three employees.
2 transport via truck to a mill.
3 chemical process to retrieve the gold.
After that the yield was 1/4 ounce per ton. I think that these gold buying events are a scam to ripoff the public.
A neighbor of mine gold plates automotive parts. He buys emblems from the manufacturer, for around $200 set, gold plates them, about $1.25, and sells them for better than $600 per set. Buyer, or in this case, seller beware.
Good for you, but according to most on this site you are a loony “doom and gloomer”. Personally, I will be stocking up on ammo. If the house of cards our economy is built on collapses, it won’t be pretty. They didn’t have an over abundance of gangs and illegal immigrants the last time.
At the rate gold is climbing some people should be careful about getting their teeth knocked out!
I hope rappers and other thugs have good dental plans.
;)
Indeed. Moral of this story: do not sell outright to a dealer. Same is true of collectible stamps.
Better start putting your gold and silver in safety deposit boxes or safes........crime is going to "take off!"
There are a lot of closed up mine claims in the CA hills too.
It would fun to see some of them get active again, if insurance and enviro regs allow.
Smart moves all. Good luck, and I hope you own your home property outright.
Calling the Hunt Brothers...
I remember, not too long ago, where the phrase “Gold bug” was thrown around as an insult.
That said, I do think it is a bubble, in spite of what the dollar is doing. Mining stocks seem to think gold is worth about $600.
Mike Hunt? Oops, wrong thread.
I was pounding the table on silver at $5 and $6. A maniac. Too bad I didn’t see it for sub-300 gold. At $5-6, you cannot dig the dirt, separate the silver ore, smelt the silver, assay the silver, and pour it into ingots. Even at $9 oil, the intrinsic value of the item is more than the sum of the inputs that are required to make it. It’s no different than a slice of bologna for 1/3 cent.
I had a friend who had an employee who went to Mexico 5-6 times a year. I gave him $200 to buy Onzas, a Mexican 1-oz silver coin, when silver was $6. You cannot bring in more than 20 oz without declaring them, so I told him to get 18 of them.
“no problemo, they have areas in Mexico City where they sell them by the kilo”
“Great, buy 19 and keep one for yourself”
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $6.25
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $6.40
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $6.85
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $7.10
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $7.40
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $7.75
On his return: “Gee, I couldn’t get to it.”
Try again. Silver $8
On his return: “Gee, I couldn’t get to it.”
On his return: {me} I am going to kill you. Do not fail.
“OK, I promise”
On his return: Hey, all those guys disappeared and nobody wants to sell them any more.
*^#$_(*^#*$#$+)#
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