On this topic, I've never owned any gold because I never took it seriously in a practical world. However, I do own crypto which is seen as the digital equivalent of gold.

So, if crypto is the future does gold really even have any place going forward? It seems like it would only be maybe relevant in a world that was impacted by a global EMP and all tech went offline.

Just riffing.....

FAT SEXY said:

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Historical precedent says that Gold will always have a place in this world. It is the only "money" that has stood the test of time.

Ask yourself why countries like China are buying up every piece of it that isn't nailed down.

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But are they doing it for it's industrial application (which would obviously counter my own point on practicality) or for backup storage value/currency?

Yes I am.
-W. DeVane

I'm not sold on crypto or today's crypto being the future. Gold and silver will always have value. I like gold but silver is a better play. Gold has a little bit of industrial demand but it's largest demand by far is a store of wealth. Silvers demand is pretty much 50/50. Silver is the metal of the future. Every technology we have today plus the technology of the future uses and it will need silver.

Crypto.

Call it schmuck insurance. For when governments get schmucky

If you can't hold it, you don't own it.

I own some physical silver bars and coins for the "zombie apocalypse mad-max the postman" scenario. If it goes down like that, I'm automatically filthy rich and powerful as I have plenty of usable currency and ammo.

Ya just gotta be prepared for everything, ya know?

If there is any truth to the Dems trying to tax wealth, then I bet gold and silver go ballistic. Everything else is traceable...but my little pile of gold will be safe at the bottom of the lake with my firearms.

ChiefKiefton said:

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If you can't hold it, you don't own it.

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It's not 1970 anymore

Do you think you own your 401k/IRA? If you are 30 years from retirement and the number in your computer says $400,000 for your 401k, do you own that? Does that $400,000 have any value? I'd argue that it is worth absolutely nothing. You are hoping in 30 years it's atleast $400k if not a couple million. Those digits on a screen have 0 value. Same with a bank account. A bank account that says 1 million has 0 value. Because it's based in USD, it only has value when you exchange those dollars for a good or service. That's digits in your screen/100 bills have no value until your use them. Gold and silver have value outside of the dollar amount you peg to it via the US dollar. I don't need to spend my gold/silver for it to have value. I say all of this because I leverage my 401k and IRA with metals. I max out my 401k and IRA every year but I know going into it that it could be all gone tomorrow.

Outdoorag011 said:

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Do you think you own your 401k/IRA? If you are 30 years from retirement and the number in your computer says $400,000 for your 401k, do you own that? Does that $400,000 have any value? I'd argue that it is worth absolutely nothing. You are hoping in 30 years it's atleast $400k if not a couple million. Those digits on a screen have 0 value. Same with a bank account. A bank account that says 1 million has 0 value. Because it's based in USD, it only has value when you exchange those dollars for a good or service. That's digits in your screen/100 bills have no value until your use them. Gold and silver have value outside of the dollar amount you peg to it via the US dollar. I don't need to spend my gold/silver for it to have value. I say all of this because I leverage my 401k and IRA with metals. I max out my 401k and IRA every year but I know going into it that it could be all gone tomorrow.

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Until they live through a market crash, they won't get it.

If bank accounts and 401ks become worthless I'd rather own lead than gold and silver.

SD bullion is good.

Places that I have bought from multiple times and never had an issue:

SD bullion
Monarch precious metals
Provident metals
JM Bullion
Apmex
Bullion exchanges
Handful of other smaller websites like Pinehurst coins.

Local coin shops are good sources as well but they usually have higher prices.

Trust me... I've got my fair share of protection haha. But I agree. Metals are pointless if you can't protect them. Luckily I bought a bunch of ammo before prices skyrocketed.

Plomo o Plata?

No ambos.

Outdoorag011 said:

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SD bullion is good.

Places that I have bought from multiple times and never had an issue:

SD bullion
Monarch precious metals
Provident metals
JM Bullion
Apmex
Bullion exchanges
Handful of other smaller websites like Pinehurst coins.

Local coin shops are good sources as well but they usually have higher prices.

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If you live in DFW area I recommend C R Coins Gold & Silver in north richland hills. When I moved back to north texas I ce across them. I haven't found better prices than them online or local.

Silver investing story... My daughter's 18th birthday is later this year and I want to buy her a 2003 (year of her birthday) kilo Australian Lunar Series I coin (with a goat on it, of course). If her mother and I were wiser when she was born, the coin would have cost about $150 ($4.50ish spot per ounce X 32.15 ounces). Today, to buy that coin on Ebay is over $1,000 (spot $25 X 32.15 = $805...no way that coin is selling for anything close to spot). That's about 10% growth per year on silver prices, on average. The coin is appreciating about 12% per year.

Yes, that's a 2.2 pound coin. No, I do not own any...yet!

Outdoorag011 said:

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Do you think you own your 401k/IRA? If you are 30 years from retirement and the number in your computer says $400,000 for your 401k, do you own that? Does that $400,000 have any value? I'd argue that it is worth absolutely nothing. You are hoping in 30 years it's atleast $400k if not a couple million. Those digits on a screen have 0 value. Same with a bank account. A bank account that says 1 million has 0 value. Because it's based in USD, it only has value when you exchange those dollars for a good or service. That's digits in your screen/100 bills have no value until your use them. Gold and silver have value outside of the dollar amount you peg to it via the US dollar. I don't need to spend my gold/silver for it to have value. I say all of this because I leverage my 401k and IRA with metals. I max out my 401k and IRA every year but I know going into it that it could be all gone tomorrow.

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This just sounds like hokey doomsday nonsense.

Let's hope so.

TxAG#2011 said:

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Outdoorag011 said:

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Do you think you own your 401k/IRA? If you are 30 years from retirement and the number in your computer says $400,000 for your 401k, do you own that? Does that $400,000 have any value? I'd argue that it is worth absolutely nothing. You are hoping in 30 years it's atleast $400k if not a couple million. Those digits on a screen have 0 value. Same with a bank account. A bank account that says 1 million has 0 value. Because it's based in USD, it only has value when you exchange those dollars for a good or service. That's digits in your screen/100 bills have no value until your use them. Gold and silver have value outside of the dollar amount you peg to it via the US dollar. I don't need to spend my gold/silver for it to have value. I say all of this because I leverage my 401k and IRA with metals. I max out my 401k and IRA every year but I know going into it that it could be all gone tomorrow.

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This just sounds like hokey doomsday nonsense.

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Bold is fundamentally true. We could have 1929 happen tomorrow and all of those 0's and 1's on a screen could dramatically drop or disappear altogether. It's vapor until you actually secure it in a relatively liquid scenario and/or cash it in.

Will step aside on the metals comment because I don't play much in that space.

So if I offered you $1000 in 100 bills or $1000 worth of corn, the corn and $100 bills have the same intrinsic value? The value of that $100 bill is the same as the actual value of $100 worth of corn bought? If you actually believe that......

That is what I'm saying with a bank account or 401K. 1 million dollars in a bank account has 0 value compared to 1 million dollars of an actual good or service. One has intrinsic value outside of the dollar value given to it and the $100 paper bill has 0 value outside of the dollar amount given to it.... until you use it.

Outdoorag011 said:

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So if I offered you $1000 in 100 bills or $1000 worth of corn, the corn and $100 bills have the same intrinsic value? The value of that $100 bill is the same as the actual value of $100 worth of corn bought? If you actually believe that...... I have nothing else to say.

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Depends on if I have cattle to feed.

1 million dollars in my bank account has zero value? This is just ridiculous.

Try stuffing an ear of corn in a stripper's g-string for a table dance and see if that intrinsic value carries over...

Why not buy bullion, gold/silver mining stocks, and a basket of crypto along with your other investments?

TxAG#2011 said:

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1 million dollars in my bank account has zero value? This is just ridiculous.

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Of course it does because it's cash in your account and liquid. Different scenario than 401k though.

TxAG#2011 said:

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1 million dollars in my bank account has zero value? This is just ridiculous.

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Just playing devils advocate here - I have a framed collage of Deutschmarks (bills) from Germany ranging from 100 to 100,000,000. When shlt goes sideways for a country, that stuff is just paper.

A medium of exchange is just that - but cash is based on the trust someone has in its value. Literally dozens of examples throughout recent history where a currency becomes nearly worthless.

Never in history has gold or silver been worthless.

Aggiemike96 said:

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Silver investing story... My daughter's 18th birthday is later this year and I want to buy her a 2003 (year of her birthday) kilo Australian Lunar Series I coin (with a goat on it, of course). If her mother and I were wiser when she was born, the coin would have cost about $150 ($4.50ish spot per ounce X 32.15 ounces). Today, to buy that coin on Ebay is over $1,000 (spot $25 X 32.15 = $805...no way that coin is selling for anything close to spot). That's about 10% growth per year on silver prices, on average. The coin is appreciating about 12% per year.

Yes, that's a 2.2 pound coin. No, I do not own any...yet!

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I bought my kid a one ounce gold coin the year he was born 16 years ago. $640 IIRC. Today gold is $1,840 so it has almost tripled in value. I'm sure there are many stocks I could have bought with the money that would have done much more than tripling. Also some that have been flat or gone bankrupt.
On an interesting note, I also purchased farm/ranch land the year before my kid was born. It is now worth a minimum of 20x what I paid for it. And I've used and enjoyed it.