What to do with 3oz of gold?
What to do with 3oz of gold?
I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
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Re: What to do with 3oz of gold?
I had 3 also. I walked into a store in the diamond district of NYC when i went in for a ballgame and they paid me the price of gold in cash rounded down a slight bit. No value in keeping it.
- unclescrooge
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Re: What to do with 3oz of gold?
Why did you buy them?0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
I bought a bunch after I sold my home in 2006. I view then as a form of insurance.
I doubt I will ever sell them.
- simplesimon
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Re: What to do with 3oz of gold?
And then you went to the Bronx with thousands in cash in your pocket?Good Listener wrote:I had 3 also. I walked into a store in the diamond district of NYC when i went in for a ballgame and they paid me the price of gold in cash rounded down a slight bit. No value in keeping it.
I sold some years ago and I was paranoid carrying thousands in an envelope to my car.
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Re: What to do with 3oz of gold?
Sell and reinvest in your asset allocation. If you want to own gold, there is a vehicle which holds physical gold-- is it an ETF? It should track the gold price fairly closely. Unlike most commodities, storing gold is not a large cost so an investment vehicle that simply buys and holds the stuff is quite workable.0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
But at the moment it is dead money and you are losing the 4-6% pa financial markets might return you, long run, say 40% bonds/ 60% equities.
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Re: What to do with 3oz of gold?
Keep them in a fire safe along with insurance policies - or in your sock drawer. Then, give 'em to the grandkids at some time in the future and let them worry about it.
I've got a few silver dollars my grandfather gave me for birthdays and Christmas - when they were worth a dollar. Think I'll pass them on to my grandkids somewhere down the road.
I've got a few silver dollars my grandfather gave me for birthdays and Christmas - when they were worth a dollar. Think I'll pass them on to my grandkids somewhere down the road.
FI is the best revenge. LBYM. Invest the rest. Stay the course. Die anyway. - PS: The cavalry isn't coming, kids. You are on your own.
Re: What to do with 3oz of gold?
I inherited a few gold coins and ended up selling them. I don't think they are a very good investment, and I didn't want to worry about storing and potentially losing them.
You can sell them via Apmex.com or a local store that buys gold. Make sure they give you close to the spot price.
You can sell them via Apmex.com or a local store that buys gold. Make sure they give you close to the spot price.
- Hyperborea
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Re: What to do with 3oz of gold?
Valuethinker wrote:Sell and reinvest in your asset allocation. If you want to own gold, there is a vehicle which holds physical gold-- is it an ETF?.0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
I think many of those holding physical gold are worried about the <zombie apocalypse, black helicopters, communist/fascist/anarchist/Randian overthrow of the government, catastrophe du jour> and need the coins to pay for <safe passage, ammo, beans> when it comes. Those of us without such hordes of gold will be <sorry, eaten by zombies, first up against the wall>.
It’s not just that facts don’t seem to matter anymore. It’s that it doesn’t seem to matter that facts don’t matter.
Re: What to do with 3oz of gold?
I have a couple of gold and silver coins. They are worth a tiny tiny fraction of my portfolio. I keep them to remind me not to be so foolish in the future.
A time to EVALUATE your jitters: |
viewtopic.php?p=1139732#p1139732
Re: What to do with 3oz of gold?
Sell the gold and invest the proceeds in a low cost, tax efficient, total market index fund that will provide you earnings growth and dividend yield.
"The broker said the stock was 'poised to move.' Silly me, I thought he meant up." ― Randy Thurman
Re: What to do with 3oz of gold?
Gold ounces make nice gifts for kids or grandkids.
Best Wishes, SpringMan
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Re: What to do with 3oz of gold?
Have them mounted in a shadow box and hang them on the wall in your game room. People have more expensive art and electronics and jewelry that that on display all the time. They'll be a nice conversation piece.
Re: What to do with 3oz of gold?
Investment, probably not, but we have lots of things simply because we want them rather than because we need them or having them is the most rational decision.
Tim
Tim
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Re: What to do with 3oz of gold?
Nah. It was a big East basketball game in Madison Square garden.....simplesimon wrote:And then you went to the Bronx with thousands in cash in your pocket?Good Listener wrote:I had 3 also. I walked into a store in the diamond district of NYC when i went in for a ballgame and they paid me the price of gold in cash rounded down a slight bit. No value in keeping it.
I sold some years ago and I was paranoid carrying thousands in an envelope to my car.
Re: What to do with 3oz of gold?
would someone really buy that off "Ebay"? (no way)I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8
Long is the way and hard, that out of Hell leads up to light.
Re: What to do with 3oz of gold?
I'd recommend selling it. I held gold for a while and lost money. I sold mine to APMEX.com. The process was pretty straightforward and their support is helpful. If not them, I'd sell to some place local that will come close to spot price.
- Epsilon Delta
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Re: What to do with 3oz of gold?
Hammer it into foil and gild all your lilies. It should be good for several thousand flowers.
Re: What to do with 3oz of gold?
"The Walking Dead" taught me that gold and silver is as useful as a screen door on a submarine when the zombie apocalypse hits!Hyperborea wrote:Valuethinker wrote:Sell and reinvest in your asset allocation. If you want to own gold, there is a vehicle which holds physical gold-- is it an ETF?.0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
I think many of those holding physical gold are worried about the <zombie apocalypse, black helicopters, communist/fascist/anarchist/Randian overthrow of the government, catastrophe du jour> and need the coins to pay for <safe passage, ammo, beans> when it comes. Those of us without such hordes of gold will be <sorry, eaten by zombies, first up against the wall>.
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Re: What to do with 3oz of gold?
Why not?F150HD wrote:would someone really buy that off "Ebay"? (no way)I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8
The seller is APMEX, one of the more reputable dealers of precious metals.
Re: What to do with 3oz of gold?
I once sold a gold coin. I found a local buyer on Craig's list (if I recall correctly). We met at a bagel shop and he weighed and measured the coin as a density check. We split the APEX bid and ask price so we both profited a bit from a private transaction.
You can get some skepticism from a private buyer. Bars are perhaps somewhat more subject to tampering where you dill a hole and fill it partially with lead to get the density right. Coins are so thin and have a patterned edge that this is hard to do. But that bar looks pretty thin and it perhaps is hard to hide evidence of a hole.
You can get some skepticism from a private buyer. Bars are perhaps somewhat more subject to tampering where you dill a hole and fill it partially with lead to get the density right. Coins are so thin and have a patterned edge that this is hard to do. But that bar looks pretty thin and it perhaps is hard to hide evidence of a hole.
- Epsilon Delta
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Re: What to do with 3oz of gold?
Gold is almost twice as dense as lead. You could counterfeit a pure lead bar by partially filling a hole with gold, but the reverse doesn't work.tadamsmar wrote:Bars are perhaps somewhat more subject to tampering where you dill a hole and fill it partially with lead to get the density right.
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Re: What to do with 3oz of gold?
I'd bury it in the yard and tell the kids where it is in case of emergencies. (Assuming it's less than 0.5 percent of your portfolio and you have no debt.) But I'm kinda weird that way.
I'm not smart enough to know, and I can't afford to guess.
Re: What to do with 3oz of gold?
Good OneHyperborea wrote:Valuethinker wrote:Sell and reinvest in your asset allocation. If you want to own gold, there is a vehicle which holds physical gold-- is it an ETF?.0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
I think many of those holding physical gold are worried about the <zombie apocalypse, black helicopters, communist/fascist/anarchist/Randian overthrow of the government, catastrophe du jour> and need the coins to pay for <safe passage, ammo, beans> when it comes. Those of us without such hordes of gold will be <sorry, eaten by zombies, first up against the wall>.
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Re: What to do with 3oz of gold?
No. Too many crime novels begin that way. They tell their friends, and they have a no good stoner friend of friend... you discover same digging in your garden one night, and they are armed .... you know how this movie goes.harvestbook wrote:I'd bury it in the yard and tell the kids where it is in case of emergencies. (Assuming it's less than 0.5 percent of your portfolio and you have no debt.) But I'm kinda weird that way.
Or... and I have seen this happen in the family. They all know where the valuables are hidden. When it comes time to read the will, the valuables are missing.
The cleaning lady or the home care people are usually fingered in this. But it is often actually one of the siblings.
Seen this one tear families apart-- the suspicion, the paranoia.
Put it in the will and hope the kids don't sell the place/ move Mom to the old age home before the reading of the will.
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Re: What to do with 3oz of gold?
Yes and no.Hyperborea wrote:Valuethinker wrote:Sell and reinvest in your asset allocation. If you want to own gold, there is a vehicle which holds physical gold-- is it an ETF?.0cean23 wrote:I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8 what do you recommend I do with these? Continue to hold onto them? Sell them for cash? I don't need the cash at this time but I wanted to see if there's a way to invest it or not.
I think many of those holding physical gold are worried about the <zombie apocalypse, black helicopters, communist/fascist/anarchist/Randian overthrow of the government, catastrophe du jour> and need the coins to pay for <safe passage, ammo, beans> when it comes. Those of us without such hordes of gold will be <sorry, eaten by zombies, first up against the wall>.
In that, I grew up surrounded by Mittleuropean Jews, who got out in the 1930s. Some of them managed to get wealth out of Germany, Hungary etc. with diamonds etc. I am pretty sure (in fact I know) that they kept jewelry, coins etc. in the safety deposit boxes (in North America) if the time to run ever came again.
There's some case for having something to bribe the border guards with. Think Syria. Those 6m+ people fled with *nothing* except what they could carry.
I agree generally though that what you are going to want is: freeze dried food; pepper & spices; alcoholic spirits; guns & ammunition in common calibres; batteries; razor blades; other necessary spare parts; medical supplies and especially things like antibiotics. Canned and pickled goods and knowledge of how to make same. Feminine hygiene products for that matter. If you look at say Venezuela, now, the things that people can trade for food and other necessities. What worked in Zimbabwean hyperinflation, Venezuela, USSR in early 1990s etc.
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Re: What to do with 3oz of gold?
That's their Ask price. What is their Bid price? I.e. what would they buy from an individual at? The spreads on these sorts of things are usually huge? (jewelry 25-50% I believe is normal).SuperGrafx wrote:Why not?F150HD wrote:would someone really buy that off "Ebay"? (no way)I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8
The seller is APMEX, one of the more reputable dealers of precious metals.
Re: What to do with 3oz of gold?
Opps, tungsten not lead.Epsilon Delta wrote:Gold is almost twice as dense as lead. You could counterfeit a pure lead bar by partially filling a hole with gold, but the reverse doesn't work.tadamsmar wrote:Bars are perhaps somewhat more subject to tampering where you dill a hole and fill it partially with lead to get the density right.
Re: What to do with 3oz of gold?
The spread is not very big. There is also insurance and shipping, if I recall correctly.Valuethinker wrote:That's their Ask price. What is their Bid price? I.e. what would they buy from an individual at? The spreads on these sorts of things are usually huge? (jewelry 25-50% I believe is normal).SuperGrafx wrote:Why not?F150HD wrote:would someone really buy that off "Ebay"? (no way)I have a few oz of gold similar to these gold bars https://goo.gl/i8QJn8
The seller is APMEX, one of the more reputable dealers of precious metals.
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Re: What to do with 3oz of gold?
Valuethinker wrote:
No. Too many crime novels begin that way. They tell their friends, and they have a no good stoner friend of friend... you discover same digging in your garden one night, and they are armed .... you know how this movie goes.
=.
This happened in my family. Gal had about $8000 in gold in a safe and her daughter knew about it. Blabbed to a fellow drug addict and voila, they boosted the stuff out of there. Mother didn't report to the PD so something else may have been going on too.