Gold?

Do any of you guys keep any stores of gold?

I've been thinking about this for a while and have decided to buy into some gold coins.

If any of the things that are mooted on this site actually do happen, then a fierce black market in tangible currency will be one of the first things to happen. As our paper and coin currencies hold no intrinsic value in themselves, precious metals and stones are the likely currency in a post nuke / nwo / general armageddon state.

Now, I am not a rich man (maybe one day though!), but I reckon if I can save up a couple of grand then it is worth getting a bunch of reasonably low value (�25/$50 each) coins and hiding them away.

Any thoughts gang (other than the "watch you don't get them stolen / lost / etc comments).

Ben

I've been collecting gold, silver and platinum coins for some time now. Motsly because they can be beautiful pieces, and I just like coins. And it's more of a worthwhile investment than other things, that's for sure.

What kind were you thinking of purchasing?

The Canadian Maple Leafs are excellent coins, not to mention having an extremely high purity content (9999)
The Perth Mint has soom very nice gold coins in their lunar collection, both gold and silver. And the Chinese Pandas, both gold and silver, are very nice, as well. Both have high purity (999, some Australian coins have 9999).
The Isle of Man also have some very nice coins with high purity content, that also look great.

I've been looking at English Sovereigns and Krugerands.

All of them contain either 1, 0.5 or 0.25 troy ounces of gold, though they may weigh more as the gold is often mixed with copper or silver to add strength.

You're right though, the maple's and panda's are good looking coins.

I don't know why though, but I would rather have something with the Queen's head on if I ever need to barter with them. Just me I guess.

I have also been collecting silver coins/bars. I began last year with 10 Silver Eagles. Bought them at $6.75 each, now selling for $8.75 each. The 2004 Silver Eagles(1 oz., .999 fine) are selling for $7.75 each. These are Gem uncirculated, not proof mints.

Gold is too expsensive for me at the moment. I am going to stick with silver for the time being. Silver Panda's(China) are selling for $16.75 each (1 oz., .999 fine silver)

Someone correct me here, but I read that silver is becoming more scarce. Mining operations aren't pulling that much out of the veins anymore, and that the spot price for silver might reach into the $50.00's per ounce in 2-3 years.

Go Silver!!!!

Originally posted by benjj
I've been looking at English Sovereigns and Krugerands.

All of them contain either 1, 0.5 or 0.25 troy ounces of gold, though they may weigh more as the gold is often mixed with copper or silver to add strength.

You're right though, the maple's and panda's are good looking coins.

I don't know why though, but I would rather have something with the Queen's head on if I ever need to barter with them. Just me I guess.

Well, the Maple Leafs have the Queens head on them =) As do the coins offered by the Perht mint.
The Maple Leafs come in 1 oz, 1/2 oz, 1/4 oz, 1/10, oz, and 1/20 oz. Krugerrands are very nice coins.

With regard to the coins being mixed with silver or copper, that drops the purity content of the coin due to increased alloy.

I used have some silver. It was good stuff, too, some small bars and coins. Then my brother's friend teefed them and sold them to buy pot. Bastard.

I'd say go for silver instead of gold. It'll attract less attention. Plus, people trying to take your stash might just pass it over if they're 'naked' (not in a seal).

Didn't work for me, though.

DE

Originally posted by nathraq


Gold is too expsensive for me at the moment. I am going to stick with silver for the time being. Silver Panda's(China) are selling for $16.75 each (1 oz., .999 fine silver)

Someone correct me here, but I read that silver is becoming more scarce. Mining operations aren't pulling that much out of the veins anymore, and that the spot price for silver might reach into the $50.00's per ounce in 2-3 years.

Go Silver!!!!

I like the older style Pandas, from the '80's, I think they look better. The newer ones are nice too, though.

I hadn't heard that, nath. It's good news if true!

Originally posted by DeusEx

I'd say go for silver instead of gold. It'll attract less attention. Plus, people trying to take your stash might just pass it over if they're 'naked' (not in a seal).

In what way will it attract less attention, DE?

*starts cursing and throwing things around because he had like 25 ounces of the stuff*

DE

Gold may come handy if were ever faced with the whole nwo crap, but i dont think there would ever be any use for whole post nuclear war scenerio.
Maybe gold would be good to a certain point, but if the whole world turned to anarchy than i would much rather have a gun in my hand than some gold.

Originally posted by DeusEx
*starts cursing and throwing things around because he had like 25 ounces of the stuff*

DE

DE, that still doesn't tell me why it will attract less attention.
Where did you keep yours? Maybe it's the fact that it wasn't well stored/protected that caused the loss, and not the fact that it was gold.

It was carefully hidden in the bottom of a bookcase, behind Moby dick, in a small wooden box underneath a cloth and a rosary. It wasn't that it was poorly hidden, its that the thief prettymuch scoured my room and took everythign they thought of as valuable. Bastard.

DE

Luckily for me I already have the benefit of guns in the house, gold will be a nice 'post apocalypse' addition!

I was planning to keep them in my gun safe if I do buy them, should be safe there.

Regarding purity, as far as I was aware a 1 oz coin contains 1 true troy ounce of gold, as well as other metals to keep the coin in the same shape. I understand about purity, but that is not the case here as there always will be 1 oz of gold in a 1 oz coin if bought from reputable dealers. Am I right!? (confused!)

Anyway, I think it would just feel damned good to have something of instant worldwide value, just in case....

That's too bad. Can I ask how long ago this was?

I'm careful about such things. I don't keep my coins where I live. And where they are, no one, save 3 people I trust very, very deeply, can reach them.

I've only had one coin stolen from me. It was a lucky coin, and it was indirect. It was when my bag was stolen in November, and the coin happened to be the only thing of true value. Only about $10, though. It was a 1989 Chinese panda. My favorite one. Oh well, I've since replaced it.

Three years ago. The punkass who took it made tracks, so we couldn't find out where he was. I was damn careful. However, now I will place any gold or silver i obtain in my mouth, on my hands (I have two gold rings and a silver one...relatives like to give me rings for some inplicable reason) or under my sword. I'm usually the only person who knows exactly where my sword is.

DE

Were they coins that were taken?

I'm a big coin collector.

I've got over 200 coins and several other forms of money.

Originally posted by parrhesia
Were they coins that were taken?

Coins and small bars. It was brutal.

DE

I have 4 gold Krugerands...I think they're worth about $500 each but i'm not sure

[Edited on 3/3/2004 by TekNo88]

coins stink. not all of them are pure and not all of them will attract a buyer should the need arise. what you need is a gold brick and to start a collection of them

a simple 1 oz $416 gold brick which is ALWAYS comprised of .99999999 refined gold ore.

on top of that, the average dullard isn't always aware of the value of a gold bullion. they may think "wow it's so big" and give you a lot more for what it's worth much more easily than if you tried to sell them a coin with a picture of a panda or the Queen mother on it.