gold
- Thread starter saiman
- Start date
A couple of ounces I bought this week for less than spot price (just for turk)
Mightily impressed by the photo of the 2 big lumps of gold you have there, do you exaggerate all your lumps this way?
Hope this buy doesn't negate your boast of accumulating your gold hoard at below $1100.
What is the average cost of your silver hoard?
You must be looking to make big $$$$$$$$$$'s out of these 2 ounces.
As is often asked here lets have the $ details, buying price, buying costs, what could you sell these 2 lumps for now, selling costs, tax treatment, etc?
Hobo,
You would be holding much of your Precious Metal at a loss.
What is your logic in flipping profitable deals as opposed to selling the equivilent from your losing postions?
How does this affect your tax position?
A lot of my metal is long term buy and hold from as early as 2008, some is held at a loss, but far from a majority.
The SBA bars weren't to flip, just an example of a purchase under market price.
A lot of the stuff I trade/flip short term is semi-numismatic, items that I'm not interested in holding long term & not directly comparable/interchangeable with low premium bullion.
A couple of ounces I bought this week for less than spot price (just for turk
they look pretty sweet there hobo
where is the best place to purchase something like that?They were from a deal posted on Silver Stackers: http://forums.silverstackers.com/forum-33-australia-new-zealand-public.htmlthey look pretty sweet there hobo
Though would recommend starting out with dealer purchases, Perth Bullion is well priced & have dealt with them via post on several occasions & believe they have a showroom in Perth http://www.perthbullion.com/ or of course there's the Perth Mint, but they don't have the variety of brands and are usually a little more expensive.
These gold threads crack me up!
I laugh nearly every time I read one of these gold threads... It seems that most people just don't get the fundamental difference between asset classes and types. Gold in real money... a hedge against inflation. A reasonable long term store of value.
It is not property.
It does not give a return like property.
It should not be purchased in place of property.
It is also not like shares as it has no dividend.
Despite all of that, it still has a place in a portfolio, just for different reasons than the rest.
Comparing gold to other commodities, in a direct manner, is simply absurd. Only a speculator would be so foolish....
I laugh nearly every time I read one of these gold threads... It seems that most people just don't get the fundamental difference between asset classes and types. Gold in real money... a hedge against inflation. A reasonable long term store of value.
It is not property.
It does not give a return like property.
It should not be purchased in place of property.
It is also not like shares as it has no dividend.
Despite all of that, it still has a place in a portfolio, just for different reasons than the rest.
Comparing gold to other commodities, in a direct manner, is simply absurd. Only a speculator would be so foolish....
Swiss vote to shun gold plan
Swiss voters have overwhelmingly rejected three citizen-backed proposals to protect the country's wealth by investing in gold, drastically limit immigration and eliminate a special tax that draws rich foreigners.
A proposal to require the central bank to hold a fifth of its reserves in gold was opposed by 77.3 per cent of voters, according to final results from Swiss broadcaster SRF. It would have forced the Swiss National Bank to buy massive amounts of gold within five years, likely causing its global price to jump.
Finance Minister Eveline Widmer-Schlumpf said the vote reflects people's confidence in the SNB and the view that gold is no longer as important as it once was as a tool to back up paper money.
The SNB praised the outcome because it said the initiative would have "severely constrained" its ability to protect the country's interests through stable prices balanced with economic development.
http://www.businessspectator.com.au...l&utm_content=1023866&utm_campaign=am&modapt=
Swiss voters have overwhelmingly rejected three citizen-backed proposals to protect the country's wealth by investing in gold, drastically limit immigration and eliminate a special tax that draws rich foreigners.
A proposal to require the central bank to hold a fifth of its reserves in gold was opposed by 77.3 per cent of voters, according to final results from Swiss broadcaster SRF. It would have forced the Swiss National Bank to buy massive amounts of gold within five years, likely causing its global price to jump.
Finance Minister Eveline Widmer-Schlumpf said the vote reflects people's confidence in the SNB and the view that gold is no longer as important as it once was as a tool to back up paper money.
The SNB praised the outcome because it said the initiative would have "severely constrained" its ability to protect the country's interests through stable prices balanced with economic development.
http://www.businessspectator.com.au...l&utm_content=1023866&utm_campaign=am&modapt=
There were rules attached to the Gold Initiative proposal that would have been too restrictive for flexibility in monetary policy. Even I wouldn't have voted yes. I expected the result that they got. Looks like it's put some pressure on the price of Gold this morning though
Yep, the expected result and the status quo remains.
Gold down around 2%.
Silver down around 6%
I wonder how the year will end for gold, which now more than ever seems to be a barbaric anachronism. I think it was Lenin who said that someday they'd make toilets out of gold.
At times no answer may tell us more.
Currently up 9.2% YTD. It's no Sydney property, but that's not bad for a barbaric anachronism
To flesh out the movement in PM prices,
Silver currently down 12% in Aus.$'s
Gold down 3% in US $'s
Silver down 20% in US $'s
I measure the performance of my assets in the relevant currency.
Why should I answer any of your meaningless questions when they are only designed to provoke?
The average cost of my "silver hoard" is not relevant if you planned on measuring it against current spot price, as it includes many Perth Mint coins which have better retained their value or in some cases even increased (while spot price has dropped).
Why should I answer any of your meaningless questions when they are only designed to provoke?
The average cost of my "silver hoard" is not relevant if you planned on measuring it against current spot price, as it includes many Perth Mint coins which have better retained their value or in some cases even increased (while spot price has dropped).
