Author Topic: Investing in precious gems?  (Read 3140 times)

ROF Expat

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Re: Investing in precious gems?
« Reply #50 on: January 27, 2021, 12:37:05 PM »
On the topic of most value per weight or volume, or "what would I choose if I had to flee the country", gemstones might still be the best choice. I recall reading that some people fleeing the Nazis through Antwerp choose gemstones for this reason. Even now they have some advantages. You could glue two dozen high quality 2-karat diamonds in the soles of your dirtiest shoes and waltz through any X-ray, scanner, or other search without a fear, and they could be worth hundreds of $ each after you were through. Granted you should assume a 75% loss of value or something, but in this case you would be happy to have any value. Gemstones still seem to come out ahead of gold or paper money for this use.

I've lived in countries in which economies and governments collapsed.  In my experience, if a person thinks something like this is likely enough to want to prepare for it, having gold coins or gemstones is at best inefficient and at worst dangerous.  Better options include: 

--Have an education that gives you useful skills.  If you have to flee your own country and go somewhere else, a good diesel mechanic can find a job in minutes anywhere in the world.  A medical doctor, CPA, or engineer will probably get a job eventually, but will probably have to get local certifications first.  This can take a long time. 

--Don't flaunt your wealth before things collapse.  If you're living large,  you make yourself a target.

--Have money and property overseas before things go bad.  Set up a foreign bank account and deposits in a currency that gives you confidence.  Better yet, invest in income-producing property in a foreign country (preferably one with an investor visa program) in which you have confidence and keep the earnings in that country. 

--When fleeing a country, high value items don't give you power, they make you a target.  If you are planning to bribe a border guard, you offer him a large pile of rapidly devaluing cash that will buy a "real" hundred dollars of goods and he/she will probably be happy.  If you offer a one ounce gold coin, not only will you not get change,  you'll probably get pulled into secondary to search for all the other gold coins they hope you're carrying.  And don't assume that you will be able to "waltz through" a border with millions of dollars of commodities on your person.  When things are going bad, corrupt officials get very motivated to identify people who are leaving and to find their money.  In the movies, there's honor  among thieves.
 In the real world, the people who will sell you two dozen 2-carat diamonds will also happily rat you out for a percentage of the take.  And when you do get caught violating currency export laws, you may well lose everything, including your chance to escape. 

The real key is getting out early.  The earliest refugees are almost always the most successful because they leave early while they can do so with a plan and with assets.  Once things go really bad, very few people get out with much. 

There are similar problems with trying to use gold, gemstones, or collectibles in a collapsing economy.  When you want to buy a few gallons of gas for your car, a loaf of bread, or a pack of toilet paper, you can't pay for it in gold coins.  The guy at the gas station doesn't know what a gold coin or a diamond or a Rolex is worth, can't be sure it isn't fake, isn't going to take a small fraction of the coin or diamond, and can't make change.   And if he does believe that your gold coin/diamond/Rolex is real, he's going to be tempted to call someone who will just rob you and give him a finder's fee. 

FWIW, I have made no preparations.  The US has made it through almost 250 years of challenges without collapsing and I believe it will continue through at least my lifetime.  But if you want a contingency plan for a collapse, there are far better tools than gold coins and gemstones. 





Adventine

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Re: Investing in precious gems?
« Reply #51 on: January 27, 2021, 03:32:54 PM »
@ROF Expat

As someone living in a country actually teetering on the brink of martial law and economic depression, and actively planning to move assets to a safer country, I agree 100% with your assessment.

Skills, connections, advance planning, and good timing are all far more valuable and portable assets.

Buy the gold and precious gems to satisfy your deep unacknowledged Smaug-like urges. Not as an insurance policy in case your country goes south.

Captain Cactus

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Re: Investing in precious gems?
« Reply #52 on: January 27, 2021, 04:06:32 PM »
Love the conversation, keep it coming!

As an aside, I didn't start this thread because I feared imminent collapse of civilization... simply exploring a non-cash store of wealth. 

From what I gather so far...

1)  Precious gems are a no.  Even though they are pretty. 
2)  Gold is a yes (for some), but not in a SHTF scenario. 
3)  Premium gold products (ie Gold buffalos or eagles) are more expensive than generic bullion (ie APMEX gold bar).
4)  It's kind of weird to want a pirate's hoard of treasure.
5)  If the SHTF you want to get out early and go somewhere else. 
6)  You won't be successful at bribing border agents.

What are some other non-cash, non-equities, non-bond stores of wealth that you all believe in?  I've always liked the idea of owning some land, but have been discouraged because 1) it's generally a large outlay of cash to buy vs buying some silver or gold coins and 2) the taxes can add up over time...see those as expense ratios? 

As another aside, learning to become a diesel mechanic is actually quite intriguing but I don't know much about the learning process for that skill.  Might google that later for kicks... Anyone know anyone who's done that?

markbike528CBX

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Re: Investing in precious gems?
« Reply #53 on: January 27, 2021, 04:43:16 PM »
...Snip... I've always liked the idea of owning some land, but have been discouraged because 1) it's generally a large outlay of cash to buy vs buying some silver or gold coins and 2) the taxes can add up over time...see those as expense ratios? 

As another aside, learning to become a diesel mechanic is actually quite intriguing but I don't know much about the learning process for that skill.  Might google that later for kicks... Anyone know anyone who's done that?

I remember my uncle who said "they are not making land anymore", but I held off on real estate until I and DW wanted a house. 
Lucked into exactly what I wanted.  Some of the criteria were not known to DW, like a huge master bedroom, as I hate bumping my shins at night in a small room.  Separate garage exit door for the motorcycles, etc.
Current house expense ratio (local taxes/value) 0.8%-1.4%/year depending on valuation of house.
Physical gold expense ratio (safe deposit box rental/value) is 0.04%/year.

Any mechanic/ carpentry/ electrician/ plumber/ general skill would be valuable in most places. 

I was amazed when our company went overseas to perform a service and realized the local labor was not up to the mechanical standards that we took for granted.
I was a chemist and I had to demonstrate the correct hose flange connection techniques to some locals (star pattern tightening).   Don't forget the gasket was a key point :-)

Other places, the distinctions between a valve being OPEN (handle parallel to pipe) and closed (handle at 90 degrees to pipe) had to be explained on a regular basis.
The distinctions between pipe (tapered thread) and  Swagelok(R) and straight thread were often lost in translation or just regular skills. 

*Uncle was wrong, the Big Island of Hawaii added ~700 acres in 2018. However, that land added cost hundreds of people their homes in the process, and thousands of acres of usable land.  The land is not really livable yet.

Telecaster

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Re: Investing in precious gems?
« Reply #54 on: January 27, 2021, 04:49:22 PM »
On the topic of most value per weight or volume, or "what would I choose if I had to flee the country", gemstones might still be the best choice. I recall reading that some people fleeing the Nazis through Antwerp choose gemstones for this reason. Even now they have some advantages. You could glue two dozen high quality 2-karat diamonds in the soles of your dirtiest shoes and waltz through any X-ray, scanner, or other search without a fear, and they could be worth hundreds of $ each after you were through. Granted you should assume a 75% loss of value or something, but in this case you would be happy to have any value. Gemstones still seem to come out ahead of gold or paper money for this use.

I've lived in countries in which economies and governments collapsed.  In my experience, if a person thinks something like this is likely enough to want to prepare for it, having gold coins or gemstones is at best inefficient and at worst dangerous.  Better options include: 

--Have an education that gives you useful skills.  If you have to flee your own country and go somewhere else, a good diesel mechanic can find a job in minutes anywhere in the world.  A medical doctor, CPA, or engineer will probably get a job eventually, but will probably have to get local certifications first.  This can take a long time. 

--Don't flaunt your wealth before things collapse.  If you're living large,  you make yourself a target.

--Have money and property overseas before things go bad.  Set up a foreign bank account and deposits in a currency that gives you confidence.  Better yet, invest in income-producing property in a foreign country (preferably one with an investor visa program) in which you have confidence and keep the earnings in that country. 

--When fleeing a country, high value items don't give you power, they make you a target.  If you are planning to bribe a border guard, you offer him a large pile of rapidly devaluing cash that will buy a "real" hundred dollars of goods and he/she will probably be happy.  If you offer a one ounce gold coin, not only will you not get change,  you'll probably get pulled into secondary to search for all the other gold coins they hope you're carrying.  And don't assume that you will be able to "waltz through" a border with millions of dollars of commodities on your person.  When things are going bad, corrupt officials get very motivated to identify people who are leaving and to find their money.  In the movies, there's honor  among thieves.
 In the real world, the people who will sell you two dozen 2-carat diamonds will also happily rat you out for a percentage of the take.  And when you do get caught violating currency export laws, you may well lose everything, including your chance to escape. 

The real key is getting out early.  The earliest refugees are almost always the most successful because they leave early while they can do so with a plan and with assets.  Once things go really bad, very few people get out with much. 

There are similar problems with trying to use gold, gemstones, or collectibles in a collapsing economy.  When you want to buy a few gallons of gas for your car, a loaf of bread, or a pack of toilet paper, you can't pay for it in gold coins.  The guy at the gas station doesn't know what a gold coin or a diamond or a Rolex is worth, can't be sure it isn't fake, isn't going to take a small fraction of the coin or diamond, and can't make change.   And if he does believe that your gold coin/diamond/Rolex is real, he's going to be tempted to call someone who will just rob you and give him a finder's fee. 

FWIW, I have made no preparations.  The US has made it through almost 250 years of challenges without collapsing and I believe it will continue through at least my lifetime.  But if you want a contingency plan for a collapse, there are far better tools than gold coins and gemstones.

^ This is quite good advice. 

Malcat

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Re: Investing in precious gems?
« Reply #55 on: January 27, 2021, 04:59:20 PM »
On the topic of most value per weight or volume, or "what would I choose if I had to flee the country", gemstones might still be the best choice. I recall reading that some people fleeing the Nazis through Antwerp choose gemstones for this reason. Even now they have some advantages. You could glue two dozen high quality 2-karat diamonds in the soles of your dirtiest shoes and waltz through any X-ray, scanner, or other search without a fear, and they could be worth hundreds of $ each after you were through. Granted you should assume a 75% loss of value or something, but in this case you would be happy to have any value. Gemstones still seem to come out ahead of gold or paper money for this use.

I've lived in countries in which economies and governments collapsed.  In my experience, if a person thinks something like this is likely enough to want to prepare for it, having gold coins or gemstones is at best inefficient and at worst dangerous.  Better options include: 

--Have an education that gives you useful skills.  If you have to flee your own country and go somewhere else, a good diesel mechanic can find a job in minutes anywhere in the world.  A medical doctor, CPA, or engineer will probably get a job eventually, but will probably have to get local certifications first.  This can take a long time. 

--Don't flaunt your wealth before things collapse.  If you're living large,  you make yourself a target.

--Have money and property overseas before things go bad.  Set up a foreign bank account and deposits in a currency that gives you confidence.  Better yet, invest in income-producing property in a foreign country (preferably one with an investor visa program) in which you have confidence and keep the earnings in that country. 

--When fleeing a country, high value items don't give you power, they make you a target.  If you are planning to bribe a border guard, you offer him a large pile of rapidly devaluing cash that will buy a "real" hundred dollars of goods and he/she will probably be happy.  If you offer a one ounce gold coin, not only will you not get change,  you'll probably get pulled into secondary to search for all the other gold coins they hope you're carrying.  And don't assume that you will be able to "waltz through" a border with millions of dollars of commodities on your person.  When things are going bad, corrupt officials get very motivated to identify people who are leaving and to find their money.  In the movies, there's honor  among thieves.
 In the real world, the people who will sell you two dozen 2-carat diamonds will also happily rat you out for a percentage of the take.  And when you do get caught violating currency export laws, you may well lose everything, including your chance to escape. 

The real key is getting out early.  The earliest refugees are almost always the most successful because they leave early while they can do so with a plan and with assets.  Once things go really bad, very few people get out with much. 

There are similar problems with trying to use gold, gemstones, or collectibles in a collapsing economy.  When you want to buy a few gallons of gas for your car, a loaf of bread, or a pack of toilet paper, you can't pay for it in gold coins.  The guy at the gas station doesn't know what a gold coin or a diamond or a Rolex is worth, can't be sure it isn't fake, isn't going to take a small fraction of the coin or diamond, and can't make change.   And if he does believe that your gold coin/diamond/Rolex is real, he's going to be tempted to call someone who will just rob you and give him a finder's fee. 

FWIW, I have made no preparations.  The US has made it through almost 250 years of challenges without collapsing and I believe it will continue through at least my lifetime.  But if you want a contingency plan for a collapse, there are far better tools than gold coins and gemstones.

God I love a good bit of common sense.

314159

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Re: Investing in precious gems?
« Reply #56 on: January 27, 2021, 05:18:35 PM »
I don't advise investing in precious gems, but I do advise doing so vicariously by watching the brilliant (and brilliantly stressful) film Uncut Gems. It's full of wonderfully antimustachian characters engaging in gemstone hustles of various legalities. Also, it was the last movie I saw in theaters before covid.

celerystalks

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Re: Investing in precious gems?
« Reply #57 on: January 27, 2021, 07:43:10 PM »
Love the conversation, keep it coming!

As an aside, I didn't start this thread because I feared imminent collapse of civilization... simply exploring a non-cash store of wealth. 

From what I gather so far...

1)  Precious gems are a no.  Even though they are pretty. 
2)  Gold is a yes (for some), but not in a SHTF scenario. 
3)  Premium gold products (ie Gold buffalos or eagles) are more expensive than generic bullion (ie APMEX gold bar).
4)  It's kind of weird to want a pirate's hoard of treasure.
5)  If the SHTF you want to get out early and go somewhere else. 
6)  You won't be successful at bribing border agents.



I think it is this type of thread that separates the MMM forum from Bogleheads.

ROF Expat

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Re: Investing in precious gems?
« Reply #58 on: January 28, 2021, 01:08:37 AM »
@ROF Expat

As someone living in a country actually teetering on the brink of martial law and economic depression, and actively planning to move assets to a safer country, I agree 100% with your assessment.

Skills, connections, advance planning, and good timing are all far more valuable and portable assets.

Buy the gold and precious gems to satisfy your deep unacknowledged Smaug-like urges. Not as an insurance policy in case your country goes south.

If you're in the Philippines, I wish you and the people of the Philippines nothing but good luck and success.  Lovely people, lovely country.

Adventine

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Re: Investing in precious gems?
« Reply #59 on: January 28, 2021, 01:09:35 AM »
@ROF Expat

As someone living in a country actually teetering on the brink of martial law and economic depression, and actively planning to move assets to a safer country, I agree 100% with your assessment.

Skills, connections, advance planning, and good timing are all far more valuable and portable assets.

Buy the gold and precious gems to satisfy your deep unacknowledged Smaug-like urges. Not as an insurance policy in case your country goes south.

If you're in the Philippines, I wish you and the people of the Philippines nothing but good luck and success.  Lovely people, lovely country.

I am, born and bred. Thank you.

ROF Expat

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Re: Investing in precious gems?
« Reply #60 on: January 28, 2021, 01:47:52 AM »
Love the conversation, keep it coming!

As an aside, I didn't start this thread because I feared imminent collapse of civilization... simply exploring a non-cash store of wealth. 

From what I gather so far...

1)  Precious gems are a no.  Even though they are pretty. 
2)  Gold is a yes (for some), but not in a SHTF scenario. 
3)  Premium gold products (ie Gold buffalos or eagles) are more expensive than generic bullion (ie APMEX gold bar).
4)  It's kind of weird to want a pirate's hoard of treasure.
5)  If the SHTF you want to get out early and go somewhere else. 
6)  You won't be successful at bribing border agents.

What are some other non-cash, non-equities, non-bond stores of wealth that you all believe in?  I've always liked the idea of owning some land, but have been discouraged because 1) it's generally a large outlay of cash to buy vs buying some silver or gold coins and 2) the taxes can add up over time...see those as expense ratios? 

As another aside, learning to become a diesel mechanic is actually quite intriguing but I don't know much about the learning process for that skill.  Might google that later for kicks... Anyone know anyone who's done that?

What is your goal for the proposed non-cash store of wealth? 

Cash is generally unproductive, but there's a good case to be made for having some of it around.  Personally, I think that money that isn't needed in cash should be held in equities.  Equities are backed by underlying assets, so they're largely protected from inflation.  And the S&P 500 involves a lot of investment and earnings outside of the US.  If you are concerned about the dollar, investing more specifically in international funds can provide an easy hedge against a weakening dollar.  There's a lot to be said for income producing property. 

I have accumulated a lot of collectibles over my lifetime (including gemstones).  Some of them have increased in value considerably, but I wouldn't consider any of them good investments or even useful stores of wealth.  Most of them would involve high costs and/or a lot of time to convert into cash.  I buy collectibles that I love and can afford and don't care whether they go up in value.  When they do, it is a pleasant surprise.  Sometimes, it isn't so pleasant.  Insuring high value jewelry will cost you about 1% of value per year, and getting it appraised will cost hundreds of dollars every few years.  Costs like those add up over the years for something I don't ever intend to sell. 

I can't speak to buying honey or lead. 

iris lily

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Re: Investing in precious gems?
« Reply #61 on: January 28, 2021, 09:13:11 AM »
I don't advise investing in precious gems, but I do advise doing so vicariously by watching the brilliant (and brilliantly stressful) film Uncut Gems. It's full of wonderfully antimustachian characters engaging in gemstone hustles of various legalities. Also, it was the last movie I saw in theaters before covid.

I Recommended this film up thread. It made me uncomfortable during the entire thing because  all the characters were screaming at each other throughout. But it was a good film.

Malcat

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Re: Investing in precious gems?
« Reply #62 on: January 28, 2021, 09:16:30 AM »
I don't advise investing in precious gems, but I do advise doing so vicariously by watching the brilliant (and brilliantly stressful) film Uncut Gems. It's full of wonderfully antimustachian characters engaging in gemstone hustles of various legalities. Also, it was the last movie I saw in theaters before covid.

I Recommended this film up thread. It made me uncomfortable during the entire thing because  all the characters were screaming at each other throughout. But it was a good film.

I turned it off, I got too agitated

Radagast

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Re: Investing in precious gems?
« Reply #63 on: January 28, 2021, 09:32:32 AM »
On the topic of most value per weight or volume, or "what would I choose if I had to flee the country", gemstones might still be the best choice. I recall reading that some people fleeing the Nazis through Antwerp choose gemstones for this reason. Even now they have some advantages. You could glue two dozen high quality 2-karat diamonds in the soles of your dirtiest shoes and waltz through any X-ray, scanner, or other search without a fear, and they could be worth hundreds of $ each after you were through. Granted you should assume a 75% loss of value or something, but in this case you would be happy to have any value. Gemstones still seem to come out ahead of gold or paper money for this use.

I've lived in countries in which economies and governments collapsed.  In my experience, if a person thinks something like this is likely enough to want to prepare for it, having gold coins or gemstones is at best inefficient and at worst dangerous.  Better options include: 

--Have an education that gives you useful skills.  If you have to flee your own country and go somewhere else, a good diesel mechanic can find a job in minutes anywhere in the world.  A medical doctor, CPA, or engineer will probably get a job eventually, but will probably have to get local certifications first.  This can take a long time. 

--Don't flaunt your wealth before things collapse.  If you're living large,  you make yourself a target.

--Have money and property overseas before things go bad.  Set up a foreign bank account and deposits in a currency that gives you confidence.  Better yet, invest in income-producing property in a foreign country (preferably one with an investor visa program) in which you have confidence and keep the earnings in that country. 

--When fleeing a country, high value items don't give you power, they make you a target.  If you are planning to bribe a border guard, you offer him a large pile of rapidly devaluing cash that will buy a "real" hundred dollars of goods and he/she will probably be happy.  If you offer a one ounce gold coin, not only will you not get change,  you'll probably get pulled into secondary to search for all the other gold coins they hope you're carrying.  And don't assume that you will be able to "waltz through" a border with millions of dollars of commodities on your person.  When things are going bad, corrupt officials get very motivated to identify people who are leaving and to find their money.  In the movies, there's honor  among thieves.
 In the real world, the people who will sell you two dozen 2-carat diamonds will also happily rat you out for a percentage of the take.  And when you do get caught violating currency export laws, you may well lose everything, including your chance to escape. 

The real key is getting out early.  The earliest refugees are almost always the most successful because they leave early while they can do so with a plan and with assets.  Once things go really bad, very few people get out with much. 

There are similar problems with trying to use gold, gemstones, or collectibles in a collapsing economy.  When you want to buy a few gallons of gas for your car, a loaf of bread, or a pack of toilet paper, you can't pay for it in gold coins.  The guy at the gas station doesn't know what a gold coin or a diamond or a Rolex is worth, can't be sure it isn't fake, isn't going to take a small fraction of the coin or diamond, and can't make change.   And if he does believe that your gold coin/diamond/Rolex is real, he's going to be tempted to call someone who will just rob you and give him a finder's fee. 

FWIW, I have made no preparations.  The US has made it through almost 250 years of challenges without collapsing and I believe it will continue through at least my lifetime.  But if you want a contingency plan for a collapse, there are far better tools than gold coins and gemstones.
OK, everyone wants to argue with this one, but I wasn't really looking for an argument, so... no argument.

Radagast

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Re: Investing in precious gems?
« Reply #64 on: January 28, 2021, 10:41:17 AM »
What are some other non-cash, non-equities, non-bond stores of wealth that you all believe in?  I've always liked the idea of owning some land, but have been discouraged because 1) it's generally a large outlay of cash to buy vs buying some silver or gold coins and 2) the taxes can add up over time...see those as expense ratios? 

As another aside, learning to become a diesel mechanic is actually quite intriguing but I don't know much about the learning process for that skill.  Might google that later for kicks... Anyone know anyone who's done that?
I have some pretty good experience with both those.

Buying a quadruplex, triplex, duplex, or house with ADU (accessory dwelling unit, casita, inlaw suite, whatever) is probably easiest and can also have excellent return on the money. MMM wrote a recent article on this https://www.mrmoneymustache.com/2020/10/23/house-hacking/. These types of houses are generally treated the same as single family when qualifying for a loan, so you can get a nice low interest rate on a 30-year. State and local governments will also generally treat them favorably, but this varies greatly. I do this. We bought a duplex in 2013, and when we moved a couple years ago we kept it and now rent out both units. We recently bought a house with ADU, which we are renting out. Between the two we own two houses but have our mortgage payments fully covered.

The program I am familiar with is through a local community college which trains diesel mechanics, welders, millwrights, electricians, etc through a full time 1-year program which results in either a certificate or associate degree, depending on whether the person desires to take writing and humanities classes. They try to work with local companies to place their graduates, so typically a graduate with a 1 year certificate can earn at least $60k/yr immediately, and generally higher. Within ten years I would guess that most have doubled or tripled their starting income. I imagine there are also apprentice programs, but I am not familiar with those. You need five or more years experience to become really valuable and flexible I imagine.

314159

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Re: Investing in precious gems?
« Reply #65 on: January 28, 2021, 04:30:07 PM »
I don't advise investing in precious gems, but I do advise doing so vicariously by watching the brilliant (and brilliantly stressful) film Uncut Gems. It's full of wonderfully antimustachian characters engaging in gemstone hustles of various legalities. Also, it was the last movie I saw in theaters before covid.

I Recommended this film up thread. It made me uncomfortable during the entire thing because  all the characters were screaming at each other throughout. But it was a good film.

Apologies for the repost! I felt the same way watching the film; if I had it alone instead of with friends, I'm not sure I would have made it. But I was definitely invested (pun intended) in the story.

celerystalks

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Re: Investing in precious gems?
« Reply #66 on: January 28, 2021, 08:54:18 PM »
Whelp. Just bought a St. gaudens double eagle. I think the Current administration is going to borrow/spend huge amounts of money to prop up the economy. This can only mean one thing for gold.

Should be here soon.

Thankfully, I’ll have something to bribe those peevish border guards with. And in the meantime I can squirrel it away in my private “pirate” booty stash.

Captain Cactus

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Re: Investing in precious gems?
« Reply #67 on: January 30, 2021, 06:20:46 PM »
Whelp. Just bought a St. gaudens double eagle. I think the Current administration is going to borrow/spend huge amounts of money to prop up the economy. This can only mean one thing for gold.

Should be here soon.

Thankfully, I’ll have something to bribe those peevish border guards with. And in the meantime I can squirrel it away in my private “pirate” booty stash.

That’s cool, been reading up on those.  Looks like they’re typically going for around the same amount as some of the gold buffalos, give or take.  But you can leverage the eBay bucks with the pre 1933 coins.  Any advice for getting the first bank of eBay bucks to leverage?  I guess an initial purchase has to happen right? 

I’m your opinion, does it matter if the coin is cleaned?  Cleaned brings down the numismatic value but not the gold vale so maybe buying cleaned is the way to go?

celerystalks

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Re: Investing in precious gems?
« Reply #68 on: January 30, 2021, 07:23:12 PM »
Whelp. Just bought a St. gaudens double eagle. I think the Current administration is going to borrow/spend huge amounts of money to prop up the economy. This can only mean one thing for gold.

Should be here soon.

Thankfully, I’ll have something to bribe those peevish border guards with. And in the meantime I can squirrel it away in my private “pirate” booty stash.

That’s cool, been reading up on those.  Looks like they’re typically going for around the same amount as some of the gold buffalos, give or take.  But you can leverage the eBay bucks with the pre 1933 coins.  Any advice for getting the first bank of eBay bucks to leverage?  I guess an initial purchase has to happen right? 

I’m your opinion, does it matter if the coin is cleaned?  Cleaned brings down the numismatic value but not the gold vale so maybe buying cleaned is the way to go?

Definitely sign up for eBay bucks before purchasing.  Purchases will not earn the rewards if the buyer's account is not enrolled.  eBay bucks accrue through a quarter and then after the quarter closes they are credited as a sort of gift certificate or voucher.  eBay makes them easy to use when checking out.

The listing for the st. guadens double eagle that I bought is no longer active -- so the vendor must have sold out of the lot which they had discounted.  It was an AU/Random Date I ended up snagging for about $2,010. 

Sending two listings via PM of pre-33 coins which would appear attractive to me if I was going to buy another coin.

I have bought cleaned coins when the price was very attractive.  Some looked very good, others not so much.  For things bought near melt value, there is no numismatic value.  The risk with a harshly cleaned or really worn coin is that they may have lost some gold.



bbqbonelesswing

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Re: Investing in precious gems?
« Reply #69 on: February 15, 2021, 07:21:19 AM »
Whelp. Just bought a St. gaudens double eagle. I think the Current administration is going to borrow/spend huge amounts of money to prop up the economy. This can only mean one thing for gold.

Should be here soon.

Thankfully, I’ll have something to bribe those peevish border guards with. And in the meantime I can squirrel it away in my private “pirate” booty stash.

And your bet on this theory takes the form of... one coin?

celerystalks

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Re: Investing in precious gems?
« Reply #70 on: February 15, 2021, 08:35:17 AM »
Whelp. Just bought a St. gaudens double eagle. I think the Current administration is going to borrow/spend huge amounts of money to prop up the economy. This can only mean one thing for gold.

Should be here soon.

Thankfully, I’ll have something to bribe those peevish border guards with. And in the meantime I can squirrel it away in my private “pirate” booty stash.

And your bet on this theory takes the form of... one coin?

I never said that.

Laugh all you want. Gold has had value for thousands of years. And even modern times an allocation of 3-10% gold (my personal aim is ~5%) has enhanced the returns of portfolios. It is one of the easiest commodities to buy and sell and in recent history has maintained it’s true value in case of high inflation.