Posted on 05/25/2011 8:52:08 AM PDT by SeekAndFind
The feds took control of all gold of anything that wasn’t jewelry in the 30’s. Today, the banking and 401K records make that even easier. It would be a very easy class warfare game.
I have been thinking about buying more gold jewelry as a safety net. Maybe buying jewelry when it is on sale. I don’t know about the resale value of jewelry. Does anybody think this is a good idea? I don’t mean going crazy with jewelry but just buying a piece here and there when it is on sale. Jewelry is a luxury but it also has a practical side since it does not lose its value like so many other things that we spend our money on.
Skip the jewelry and go with recognizable gold and silver coins.
In summary, don't invest in anything you have not become very knowledgeable about. Someday, I could tell you about the absolutely stupid thing I did with $14,000, but that is a tale for another day.
Thanks for sharing your experience. I am thinking of buying silver coins what do you think of that?
If you decide to go that route, stay away from coins whose price is driven by their numismatic value (i.e., rarity and condition). Those are more in the eye of the beholder than other factors.
I obviously do not know your personal situation, but my tendencies in investing these days go in the direction of (a) learning practical skills that others will pay for [think blue collar trades, Semper Gumby!] to augment my good college education, (b) food storage, (c) high quality non-trendy clothing. This is not to say that all of my buying power goes to this sort of “head down, the disaster is heading our way” mentality, but you were asking about investing. We all have to enjoy the journey as well. Maybe your journey will include learning a musical instrument, regardless of age. Maybe it will include building an airplane, even if you don't currently have a license to fly it.
“Man is that he might have joy”, a thought that I often forget when cleaning out the cesspools that can develop at work or at home.
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