This just brings us back to my original question...please explain the “insurance” side of owning gold. In buying home owners insurance you are insuring against loss...how does owning gold insure you against loss? If gold is something that is bought and sold then does it not stand to reason that it also moves up and down in price based upon supply and demand...it was just a few years ago that the ads on TV were mostly about sending your gold in the mail to get extra cash (gold prices were cheaper and people were selling) and now the ads are trying to get you to buy (and prices have gone up)...if gold is such a great insurance then why are the ones that now own the gold willing to part with it?
“If you get a chance, read what happened at farms during the Wiemar republic”
I have read some but should probably read some more about it...but I have also read about the history of gold ownership in this country and that does not make me any more comfortable.
“It's much easier to hide a gold coin than a COW! lol”
Thanks for this line...it made me laugh...no cow under my mattress.
It's like any other insurance, you hope what you have it for never happens (e.g. collapse of the dollar).
A great thing about it though is that the coverage never expires and its value vs. the dollar most likely increases. And you can leave it to your chillins.
if gold is such a great insurance then why are the ones that now own the gold willing to part with it?
I think you may be confusing investing/trading with insurance. Traders sell their gold when they've reached a target price. They'll even go short until the price falls to a point where they'll go long again. Gold dealers on the other hand make most of their money as middlemen charging a premium over spot prices (Gold Eagles prices now are almost $100 per ounce over spot).
Gold Eagles also come in 1/10 ounce sizes and again, 90% Silver is an option.
My silver assets have quadrupled in value and the gold has doubled in less than three years. I still have some cash on hand - starting to worry about it loosing considerable purchasing power though.
If you figure your labor, small time farming doesn't pay. If you figure the value of living a good life, farming is a gold mine...