No. And if I had excess cash...I still wouldn't. There are better, equally safe investments, IMO.
only people with money usually buy gold for investment, some small investors are able to make money, but more often it is people with cash.
gold should be used as a hedge against inflation, for economic downturns, security....gold has never been worthless in 5000 years......fiat currency has.
Private poll
Do you own Gold as a hedge against a falling dollar?
I guess that would be true. Against the falling dollar. I bought 25 ounces of gold for $300 an ounce in 2001, right after 9/11. One of my better investments -- but I don't intend to sell it.
No, gold is not a good investment, and I don't invest based upon what talk radio hosts tell me.
Besides that, how are we supposed to know if the gold we are investing in is 100% pure gold and not diluted by mixing gold with lead?
Judging form the answers I see here sorta explains a lot of the views I see here at this forum.
Having it assayed. LOL wow
Gold has no actual use, not compared to other commodities that are actually useful.
But, if you think that if there is going to be Armageddon and somehow your shiny yellow stuff will be worth something, go ahead, collect it.
Besides that, how are we supposed to know if the gold we are investing in is 100% pure gold and not diluted by mixing gold with lead?
I thought about this long and hard and was extremely tempted to throw every bit of discretionary money I had at gold and silver back in 2008-2009. Turns out it could have made me some quick money considering what happened over the next 1-3 years. But I didn't.
Despite the regrets that come with 20/20 hindsight, what turned me away from metals then was my assessment of why I wanted to go into it in the first place, which for me at the time was to find the most secure store of wealth. But I didn't just adopt prevailing wisdom. I had to ask myself what really has intrinsic value, and I came to the conclusion that it was more than just what others would be willing to trade me for it (which would be the case for metals), but which has ongoing value in what it actually can produce or provide to my life at the same time. As such I opted not to invest in metals and instead saved cash and ended up purchasing a home and acreage with many features conducive to self-sufficiency. So even if something happens and no one wants to trade what I want for this property, and even if the dollar falls, and even if the **** hits the fan, and so forth, the property we own outright remains a secure investment that can keep us comfortable. If those other things happened, I'd have to decide whether to exchange the metals or not in the first place, and then have to figure out how, and so forth. You can't eat gold and silver, can't plant crops in it, and for the most part can't fire it out of a gun to kill game. It has no useful value. Just value in what others are willing to trade for it.
In my estimation one of the only potentially sure bet investments out there (although beware it will sound kooky and paranoid) is actually in the stockpiling of ammunition and related reloading materials and capabilities. That would have virtually infinite value if **** got crazy, and I believe even if it doesn't get crazy (societal unrest) that the price/value will nonetheless continue to rise. But for many people it wouldn't take long to kind of hit your max with that. Throw a few thousand dollars or at max $10,000 at firearms, ammunition and reloading materials and capabilities and you're kind of maxed out for the foreseeable future. Farther down that rabbit hole, you might as well take your money and buy yourself some time to educate yourself in survivalist and other skill sets that would come in handy were things to drastically change for you (or society).
Gold has no actual use, not compared to other commodities that are actually useful.
But, if you think that if there is going to be Armageddon and somehow your shiny yellow stuff will be worth something, go ahead, collect it.
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