monkeys beware, many coins are expected to drop to zero

But what make it valuable

 

I never understood the Bit Coin nonsense so never got involved with it. I do admit I played around with something that was almost as bad and that is the Stock Market. After 30+ years of playing around with it, I'm totally convinced it's a rigged game. Plus, it has so many rules, regulations and laws that they can do just about anything they want to help you lose your money. I have seen companies go bankrupt, stock no longer worth the paper it's printed on, then a week later change their name slightly and reissue new stock. Luckily, I managed to make more than I lost but I used the word 'luckily' deliberately and with forethought.

All and all, just give me gold, big shiny bars of it. It has held it's value since the dawn of man and will continue to do so far into the future. But, gold is a problem in our modern age world to exchange for goods and services and to securely store it. In my opinion, the best system ever invented was when the dollar was based on gold then you truly had something of solid value in your pocket. All we got now is pretty paper and it's value is decided for us by how much they print or etc.

 

cryptocurrency is more like paper money than it is like gold.

 

#1 Unique chemical properties

It doesn't rust or tarnish.
Takes 1945 degrees to melt.....paper goes at 454
Malleable (it spreads without cracking)
Ductile (it stretches without breaking)
Beautiful (ask any bride)
Rare
Every element has its ideal use. Gold has the ideal properties to make it a store of value....money.

#2 History

Look at this chart of gold covering the period of US history. Note the price was fairly flat during those periods when gold was in common circulation. There was nearly NO inflation, because you can't print gold. The exception to that was the American war 1861-65 when the north forced paper into circulation to pay for their war. The price of gold went up in relation to paper, not in relation to real things.

The same is true beginning in 1933 when gold was taken away from public use....paper immediately began to devalue in relation to gold....the "price" of gold increased....BUT IT'S PURCHASING POWER remained nearly the same.



In 400 BC Egypt, scholars have discovered that an ounce of gold bought 350 loaves of bread. Today, an ounce still buys about 350 loaves of bread. 2500 years of price stability !

#3: No Counterparty Risk

Gold is the only financial asset that is not simultaneously someone else's liability.
Gold doesn’t require the backing of any bank, government, or brokerage firm. Gold cannot suffer a default or its value fall to zero.
No counterparty risk means that once you have physical gold in your possession, you don’t depend on someone else to fulfill a contract or keep a promise for it to retain its value.

#5: Financial Advantages

• Liquid (easily convertible to cash)
  
  
• Portable (you can hold $50,000 in a small coin tube)
  
  
• Divisible (splitting up diamonds changes their value)
  
  
• Durable (how long would wheat last as money?)
  
  
• Consistent (one piece of real estate is always different than another)
  
  
• Convenient (copper coins of sufficient value would be too bulky and heavy)
  
  
• Value dense (high value held in a small quantity)
  
  
• Private and confidential (you control who knows you own it)
  

 

That gold price chart doesn' appear to be adjusted for inflation.

 

Or, conversely, that gold chart isn't adjusted for inflation...it is a chart depicting inflation...because basically that's what it is.

 

Yep....exactly.

 

Well my Coin / FIAT are in bars as of today , been seeing the powers at it hammering it down so folks won't move into it.
Got them for 25.00 over ask . I'll see them next week & then move them into the vault in YVR .
AU moves so much easier than AG
Sloth

 

$1354 per ounce last week was a 1 year maybe a little longer gold high.
Was at 1320 earlier today.
I don't have any interest in buying at anything more than a year low.

 

Ya , you just muscle right in & tell them you only pay spot.
Your posting Hogwash @ op4

I didn't buy One ozt, I bought bars !!
Gold Price Today | Price of Gold Per Ounce | 24 Hour Spot Chart | KITCO

Silver was bought last month ,
Silver Price Today | Price of Silver Per Ounce | 24 Hour Spot Chart | KITCO

Tell me how to buy , since I started this in the 60's in AG for saving 's .
Vault charge is by size & trips in !!
NOT a BANK Vault. FYI

~~~~~~~~~~~~~~~~~~~~~~~~~~~
I'll let others answer below ., on the OP4 reply .
Bars were 100ozt

 

Generally you want to buy low and sell high. Unless I have that backwards?

I'm not buying unless its a 1 to 2 year low, that would make it where 1 ounce is under $1,300 with spot fees, insured, shipped, delivered.
At $25 over spot some one really wanted to get rid of them, I would be suspicious.
But they usually sell closer to spot when the price is high.

I'm never buying larger bars again since bars greater than 1 ounce are most common PM item to be drilled out and filled with tungsten rods. Nothing bigger than an ounce and mostly golden Eagles, maple leafs, 20gm bars, ect for me.
Plus I figure it's really hard to spend an ounce worth of gold in one place at one time now, what about when (not if) gold goes up to 1,500 to 3,000 an ounce?
So why go bigger than an ounce of gold?

 

Which is safer to carry a pocket full of $100 dollar bills ,or a pocket of $20 dollar bills or a pocket of $10 dollar bills ?
If you do business with some one and they claim to have a limited capacity to make change from what you provide ,added compromises must be made . Not good for your if you are the one wanting.
If you are robbed ,the more you carry the more that is taken ,and the more you are perceived to have put away.
Conversely , during the dark ages when a village was ransacked whom do you suppose survive the event ?
the village black smith . the only thing that could not be taken from him was his skills .
Countries will go to great lengths to preserve and steel scientists and engineers .Not paper pushers but people that actually know how things work and how to build them .
Because of my broad experience there have been a few jobs I've had that I was the indispensable man. This meant I was working while others were laid off . The door swings both ways .
I have been on other jobs too that some one else was the indispensable man and I was laid off.
I lived in the mountains and that small town was such that most people had several jobs just to survive because things were seasonal ,dependent on visitor traffic , whom had very specific interests .
People that tried to move in that had only one skill either adapted or moved on .
It was said that to make a million dollars there, you needed to start with 2 Million.
I don't invest in schemes, I invest in tools and materials I can use to make things for my self and others ,
What does a 3/8ths 24 thread grade 8, 2" bolt worth ?
If the machine you depend on has this one missing , nothing else will substitute for it .
Though right now they are fairly common, if you haven't one in stock ,what does it cost to get it ? and how much time is lost "productive wise" till the job is done?
One can't make coins do the same job except to punch a hole an make a washer out of it , and the best you can do with a dollar bill is to use it as a spacer to gage the gap between a coil and the engine fly wheel magnet .
Yesterday I was working on a little heavily used Honda engine ,and needed to pull the fly wheel . but the puller for that needed 3 -3" 10mm bolts ,I didn't have , so I took 3 - 3" -1/4 " bolts and rethreaded them for the job.
If I didn't know how nor had the alternative , I would have lost time and money and gas ,going to the hard ware store and speculating that they might have what I needed , which around here is not always the case .
Sometimes you have to hit several stores to find what you want. That's a lot of time and gas for 3 metric bolts "IF" what they provide can stand up to the job .
Point is Money can only do so much , precious metals can only do so much .
It seems to me that skills and materials one's skills depend on, when money is of no/little value, can take you much further in life .

 

yep. A fine man's suit is the example I've always heard used. An ounce of gold would buy one in 918, 1518, or 2018. Neither the suit nor the gold have changed value. The play money you count in is what's changed.

 

I just sold all of my gold and silver,I’m 75 and thought it would be a good time while I still could.
Gold $1340.00
Junk silver $12.00 to $1.00

 

Great that gives me 3 years to see how your decision works out just as example of what I should do.

 

Precious metals are my money of last resort. I'd sell after I've used my last paper dollar that anyone would take, AND need to buy something....why else would you ?? I can't see converting a fairly stable, and often appreciating money into a currency with a history of becoming less valuable every year.

What happens if you live to be 95 and the paper buck is totally worthless ?

 

Thats What Im thinking also !!

I bought to transfer FIAT out into PM , still don't want to see the paper / plastic get flushed down the sink.
Seeing the NEW Yaun / gold backed / petro / one silk road coming on line & the problems in the USA , and then there is the debt.
Now if the citizens find out the stuff they have been doing & tricked / lied into .

It might turn on the Insinkerator
Sloth

 

Better read up on the CN gold intake & the one road .
This has been it the works for 3 years .
See who is now buying oil and not using any USD .
Who needs millions in FIAT , Gold HOLDS WEALTH !!


USA told Germany it will take 7 years to return theirs !!
Fort KNO X is gone !!