Sell Gold???

Discussion in 'Financial Cents' started by poacher, Jan 24, 2008.

  1. poacher

    poacher Monkey+++ Founding Member

    I'm just curious if any of those who have invested in gold coins etc have thought about selling some right now. My thought is this. Chances are you have bought the gold way earlier and paid we'll say 400.00 an oz. with the prices at 900.00 that is a 125% profit. Now I realize that some are saving gold not for the current market but for the reformed new market when things go south.
    However if you still need things we'll say more charmin to put away as trading stock or dry goods to trade as things go down hill wouldn't that also be a wise use of the money and the profit.? Now I'm just thinking here so bear with me but my thoughts would be use some of the gold or platnium to buy things that could be traded such as dry goods or sealed seeds.
    Lets face it if you have thought about the fact of what gold will be worth in the new economy then you have also thought about the fact that you will more than likely be set up as a trader/general store. So wouldn't it make sense to sell we'll say 5 oz now taking your 2500.00 profit and getting more tradables?
    I'm just kinda wondering about this.

    Take care Be safe Poacher.
  2. NVBeav

    NVBeav Monkey+++

    Yours is the age-old question on how long to hold an investment. Jim Rawles at makes lots of comments about what he and others think... search through some of his archives.

    It appears that quite a few people think gold will pass $2000/oz and silver $50/oz. Rawles recommends selling portions of your holdings (say 1/4 or 1/5) at a time -- selling at the "peak" is a fool's dream -- and investing that money into tangibles.

    That's what you were saying!
  3. Jonas Parker

    Jonas Parker Hooligan

    I don't think of PMs as investments. I think of them as "money" to use after the FRN has crashed and burned.
  4. Brokor

    Brokor Live Free or Cry Moderator Site Supporter+++ Founding Member

    This is why investing larger amounts in precious metals is so important. You could always sell a portion to increase your current wealth, and hold in reserve the rest for when the system collapses.

    Regardless, if you do not have adequate protection and a reasonably safe place to store such wealth, none of this will amount to anything.

    I keep thinking of the "lights out " scenario, and pondering just how important a few ounces of gold will serve you if you are dead and your corpse robbed.
  5. poacher

    poacher Monkey+++ Founding Member


    Yep that pretty much sums it up. I agree that timing the market to get out is impossible and as such I guess I look at the fact that at 125% profit is pretty damn good.
    As far as using the PM's after the crash while I agree that makes sense wouldn't it also make sense to sell a few ounces take the profit and invest in things that will make your time easier? Just thoughts.
    Take care Be safe Poacher.
  6. NVBeav

    NVBeav Monkey+++

    The value of PM after a crash is a largely unknow factor. The people who buy and sell it for a living would have us believe it's always in demand. An agrarian society would probably rather have tools or something else that helps with day-to-day chores.

    That's pretty much the idea of buying tangible goods -- stuff that is useful -- with the sale of your gold or silver. Keeping some silver or gold coin in reserve for better times or possible trading seems like a prudent idea, but it's still a risk. Everything is a risk, but some things are more likely to happen than others.

    Personal Opinion Stuff: I think silver will hit $30 this year and gold will hit $1500. If you don't have food stored, buy it now while it is still cheap. If you need property, buy it later when it drops in cost. That's just my opinion.
  7. melbo

    melbo Hunter Gatherer Administrator Founding Member

  8. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Not yet selling on this end.
    Paper 'profits' are falling weekly in value.
  9. Bear

    Bear Monkey+++ Founding Member Iron Monkey

    I've got some I'd sell for $1200 an ounce [beer]

    It's gonna be one of those things that when you want it .... you won't be able to find it at the price you want... panic (last minute) demand is like the scalpers in front of the theatre or the game...

    Owners of actual physical will set the true market price... not some numbers on a screen....

  10. the dog

    the dog Monkey+++

    its all the same thing be it gold,silver ,stocks,bonds, low and sell high as you can.this is up to the individual to decide were the top and bottom are and be satisfied with your own decisions.for me i moved my stocks into cash reserves about 16 months has made me a decent profit since then.also i sold my silver when i was able to double my investment.i would rahter have some suppllies stashed with the profit from silver or what ever than to hold on to a few ounces of the SHTF...most folks wont have the money to buy PM's.also there was a old diary from a civil war soldier who had recieve a $50 gold piece on close of war.he walked back to his kentucky home and couldnt buy a thing becuase the local store could make change for the $50 piece.this was at a SHTF time in my mind.i would rahter have a bucket of lead for molding bullets for my rifle,shot for my shotgun and ammo for my slingshot...oh and sinkers for my fishing line.
  11. ColtCarbine

    ColtCarbine Monkey+++ Founding Member

    I'm not sure how much I'd be willing to trade my services or goods for gold or silver if a Depression was to come about. I guess it would depend on how bad the economic situation is and whether gold or silver had any actual worth anymore. Maybe I'm of this belief because I'm in denial or don't have the financial means to build wealth through gold or silver, either way I'm going to have to wait and find out if I'll ever have any.
  12. Seacowboys

    Seacowboys Senior Member Founding Member

    I traded most of my gold off for firearms a while back I made over 150% profit from my transactions against the purchase price and have a commodity that is appreciating in real value as well as in inflated value. I am now buying ammunition. Gold has trippled in value over the past seven years but ammunition has doubled in the last year. I think it will increase in value much more.
  13. Nomad 2nd

    Nomad 2nd Monkey+++

    Doubt this is true as back then is where the term 'Bit' came from.
    Even with the Spanish Dabloons much earlier it was common practice to split into pieces.

    When Silver hits $30 (perhaps this year) I'll sell some to buy land.
    My gold for emergencies...
  14. the dog

    the dog Monkey+++

    sorry but this is true.the diary is at virginia tech and my friend read it himeself.he is a serious civial war buff. u.s. coins had/have a edge so people could not split coins or sand/file edges off of them .the fancy edge is to keep PM coins intact.

    i ahve a nice working homestead and its paid for...soooo...its supplies for me.i hope you get $30 a ounce so as to buy some land.its the most fun to own land.i have deer,turkeys and bear.nothing like being debt will love it too.good luck and hope you find the place of your dreams like i have.
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