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Anyone here invest in gold - not jewelry, but just simple pure gold like bullions or the like?

Anyone here invest in gold - not jewelry, but just simple pure gold like bullions or the like?

 
Old 06-04-2003, 12:34 PM
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Default Anyone here invest in gold - not jewelry, but just simple pure gold like bullions or the like?

I just read a paper that says gold price might hit $1500 per ounce from it's current price of $380, it was only $300 in April of last year.

If so, where and how to invest in it? Can I buy a bullion somewhere and dig it in my backyard? :P How many ounces are they anyway?

Sure the stock market has some pretty hot picks and I was lucky to pick a few that returned over 300% in 2 months, but gold seems to be a very sound investment, no?
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Old 06-04-2003, 12:38 PM
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Default best thing to buy is gold coins. Thats what I have

I try to buy numismatic coins and I just keep them. If I need $$$ then I just cash in a few and go. Just make sure that you buy them for the troy ounce worth.
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Old 06-04-2003, 12:39 PM
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How to sell them? a bank? ebay? Gold coins do look appealing
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Old 06-04-2003, 12:43 PM
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Default anywhere that you can exchange foreign currency usually takes them

Banks, American Express places and just about anywhere that will sell gold coins will buy them. I try and buy 3 or 4 a year if I can just in case society colapses.
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Old 06-04-2003, 12:47 PM
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Default You don't want the metal, you want the stocks..

If you think that gold is going to increase significantly, you buy stocks of gold mining companies. When the price of gold rises, profits rise, and the stock price rises.

There are two types of gold companies. Hedged and unhedged. Hedged companies sell their future production on the futures and forward mark and in effect, "lock in" there selling price. These companies will not participate fully if there is a bull market in gold. Unhedged companies sell their product on the spot (current) market and are exposed to the day to day swings in price of gold.

Do a little research and find a few mines. See how agressive you want to get.

An easier thing to do is to let a portflolio manager do your dirty work. My father bought a some shares in the Gabelli Asset Management Gold fund. It hasn't done what we hoped, but it is a good diversifier. The fund also holds some actual gold.

The cost of storing and transporting the actual metal is prohibitive to owning it IMHO.
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Old 06-04-2003, 12:49 PM
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p.s. YS4 let me in on most of this info.. I'm not that educated.
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Old 06-04-2003, 01:09 PM
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Thanks, I'll do some research.
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Old 06-04-2003, 01:13 PM
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hmmm, a $5 gold coin for $42. I may start picking these up
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