#3690492 - 01/02/10 04:24 PM
Re: Gold Price Hits $500/oz.
[Re: thirdgreenham]
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The_Black_Hand
The Common Man
meets
Regular People
TOTAL NEWBIE
Registered: 10/31/03
Posts: 26619
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I would prefer to own gold as well. Only problem is I can buy a large 10 oz bar of silver or a 5 gram bar of gold. The silver bar is much more impressive. I have to use a magnifying glass to see the bar of gold. BTW, silver doesn't tarnish if properly sealed airtight.  The fact that silver tarnishes at all just shows how inferior a "precious" metal it is. Silver is seductive because you can buy a lot of it with a little bit of money. But, sooner or later the realization sets in that the stuff is totally ubiquitous and not that valuable except in massive quantities. A 10 oz. bar is worth less than $200. A 100 oz. bar of silver is worth all of about $1,750. A 500 oz. Monster Box of Silver Eagles or Maples can be had for about $10K. You'd need over half a freakin' ton of silver just to buy that Action #1 6.0 that ComicConnect sold last year.  There's no question that silver is inferior to gold, none at all. A little bit difficult to store, yes, but when that's all you can afford, then silver is what you buy. If people lose faith in the USD and if we go back to some kind of barter system, gold and then silver will race to the forefront. The mid-class will be trading in silver and the high-class will be trading in gold. The common folk who don't have either will be trying to get by however they can. 
I don't have a lot of gold or silver, but I have a lot of guns and ammo. I think that will be useful. Also, the common folk will be able to barter with all the practical skills they posses, the high class have none and the mid-class, who probably pushed a lot of paper will be fairly useless,too, other than as food or slaves, like the high class.
_________________________
**Disclaimer** Remember, I'm a chat board performing artist- so take everything I say with a grain of salt. I never claimed to be any good at it, but there you have it. "If it's not disclosed...you're being hosed." Who coined that phrase? Me, damnit! And it's still true. "Into my heart an air that kills,From yon far country blows What are those blue remembered hills,What spires, what farms are those? That is the land of lost content,I see it shining plain, The happy highways where I went and cannot come again." Nothing I say is intended to be a factual statement. 
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#3690864 - 01/02/10 07:42 PM
Re: Gold Price Hits $500/oz.
[Re: The_Black_Hand]
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truthteller
Instigator
TOTAL NEWBIE
Registered: 03/09/02
Posts: 9919
Loc: The one true undisputed Truth
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I would prefer to own gold as well. Only problem is I can buy a large 10 oz bar of silver or a 5 gram bar of gold. The silver bar is much more impressive. I have to use a magnifying glass to see the bar of gold. BTW, silver doesn't tarnish if properly sealed airtight. The fact that silver tarnishes at all just shows how inferior a "precious" metal it is. Silver is seductive because you can buy a lot of it with a little bit of money. But, sooner or later the realization sets in that the stuff is totally ubiquitous and not that valuable except in massive quantities. A 10 oz. bar is worth less than $200. A 100 oz. bar of silver is worth all of about $1,750. A 500 oz. Monster Box of Silver Eagles or Maples can be had for about $10K. You'd need over half a freakin' ton of silver just to buy that Action #1 6.0 that ComicConnect sold last year. There's no question that silver is inferior to gold, none at all. A little bit difficult to store, yes, but when that's all you can afford, then silver is what you buy. If people lose faith in the USD and if we go back to some kind of barter system, gold and then silver will race to the forefront. The mid-class will be trading in silver and the high-class will be trading in gold. The common folk who don't have either will be trying to get by however they can. I don't have a lot of gold or silver, but I have a lot of guns and ammo. I think that will be useful. Also, the common folk will be able to barter with all the practical skills they posses, the high class have none and the mid-class, who probably pushed a lot of paper will be fairly useless,too, other than as food or slaves, like the high class.
Well, once the high class is decimated, will the lower classes turn on themselves?
TRUTH
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  Max, 5/7/2010 I will see you again
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#3690918 - 01/02/10 07:55 PM
Re: Gold Price Hits $500/oz.
[Re: delekkerste]
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comicdonna
This is what my dog thinks of your post.
TOTAL NEWBIE
Registered: 01/07/05
Posts: 23067
Loc: Near Albany NY
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I would prefer to own gold as well. Only problem is I can buy a large 10 oz bar of silver or a 5 gram bar of gold. The silver bar is much more impressive. I have to use a magnifying glass to see the bar of gold. BTW, silver doesn't tarnish if properly sealed airtight. The fact that silver tarnishes at all just shows how inferior a "precious" metal it is. Silver is seductive because you can buy a lot of it with a little bit of money. But, sooner or later the realization sets in that the stuff is totally ubiquitous and not that valuable except in massive quantities. A 10 oz. bar is worth less than $200. A 100 oz. bar of silver is worth all of about $1,750. A 500 oz. Monster Box of Silver Eagles or Maples can be had for about $10K. You'd need over half a freakin' ton of silver just to buy that Action #1 6.0 that ComicConnect sold last year.
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#3691363 - 01/02/10 11:26 PM
Re: Gold Price Hits $500/oz.
[Re: kimik]
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tth2
"I blame it on the low quality of the newbies that are joining the boards."
--And with one swoop tth2 become the community crotchety old man. Damn kids today.
TOTAL NEWBIE
Registered: 12/04/03
Posts: 33298
Loc: Hong Kong
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You'd need over half a freakin' ton of silver just to buy that Action #1 6.0 that ComicConnect sold last year. It`d take a lot of gold too. Approximately 288 ozs at current valuations. So what you`re really saying is that comics are the most cost-efficient way of storing great value! Just think, $317K represented in one little paper pamphlet encased in plastic. Doesn`t take up much space and doesn`t weigh very much.  That sounds Krazy to me.
Naw, it would be Krazy if I were advocating original art as the most efficient form of investment.
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#3691914 - 01/03/10 11:51 AM
Re: Gold Price Hits $500/oz.
[Re: mrwoogieman]
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CHABSENTIA
I was posting here when you were in diapers.
Registered: 07/19/07
Posts: 3409
Loc: Florida
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"Afford" is a matter of situation. If I have $100k in the Bank and it is my life savings I have enough money to buy and pay cash for an Automobile nthat costs 100K but is it a wise choice and can I really afford it?
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#3692513 - 01/03/10 06:09 PM
Re: Gold Price Hits $500/oz.
[Re: VintageComics]
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delekkerste
James Bond wears a Rolex...the rest is just product placement.
TOTAL NEWBIE
Registered: 08/21/02
Posts: 10285
Loc: New York, NY
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Another thing to mention is that it will be extremely tough to split an ounce of gold for a loaf of bread. Silver? Not so much.
Well, for those who want to be truly prepared for any eventuality (and I would include myself in that camp), sure it makes sense to have a stash of silver coins around to barter with in the event of a total hyperinflationary currency collapse or something like an electromagnetic pulse attack (think of the plot to "Goldeneye") that disrupted day-to-day commerce. Though, we are talking about extremely low probability events that, even if they happened, would most likely prove to be temporary and would not cause a permanent reversion to the barter system (which would likely only happen in a post-apocalyptic Mad Max type of world).
Therefore, IMO, it doesn't make any sense to stock up solely on junk silver, guns, ammo and canned food while ignoring the range of possible outcomes that have far higher probabilities. 
_________________________
"No asset is so good that it can't become a bad investment if bought at too high a price." - Howard Marks
Price is what you pay, value is what you get.
It's better to be thought a fool than to open your wallet and remove all doubt.My ComicArtFans.com Online Comic Art Gallery
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#3692618 - 01/03/10 07:17 PM
Re: Gold Price Hits $500/oz.
[Re: delekkerste]
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tylerdurden
Collectosaurus Rex
Registered: 08/23/09
Posts: 482
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Another thing to mention is that it will be extremely tough to split an ounce of gold for a loaf of bread. Silver? Not so much. Well, for those who want to be truly prepared for any eventuality (and I would include myself in that camp), sure it makes sense to have a stash of silver coins around to barter with in the event of a total hyperinflationary currency collapse or something like an electromagnetic pulse attack (think of the plot to "Goldeneye") that disrupted day-to-day commerce. Though, we are talking about extremely low probability events that, even if they happened, would most likely prove to be temporary and would not cause a permanent reversion to the barter system (which would likely only happen in a post-apocalyptic Mad Max type of world). Therefore, IMO, it doesn't make any sense to stock up solely on junk silver, guns, ammo and canned food while ignoring the range of possible outcomes that have far higher probabilities.
Didn't u just buy 2 monster boxes of 1 oz. silver coins ?
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You can buy gold in real small increments. It`s just as affordable as silver. 
