all 4 comments

[–]MobiusRacetrack 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

That's why you check spot price before buying and selling. You're the first person I've heard that actually lost money- some Haitian dude I know dropped about 50k, bought low, waited for a spike and made a tidy tax free profit.

[–]TemporarilyDeceased 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

There are gold coins that are appropriate for investing in the value of gold and gold coins that are appropriate for investing in the collectable value of the coin. The value of the latter is much more subjective. If you want to invest in gold, buy as close to gold spot value as possible.

[–]Alienhunter 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Yeah buying gold is pretty profitable for the companies that sell gold. Why do you think they do all the commercials.

I've always told people you should never trust the people trying to sell you gold on the TV or elsewhere as a hedge against inflation. If they actually believed that they wouldn't be selling their soon to be valuable gold for soon to worthless dollars.

Buy stocks bonds and other shit to hedge against inflation. Of the economy really goes bottom out everyone is fucked anyway and it's not like you can eat the gold you bought. If you're going that route booze and cigarettes are probably going to be worth way more than gold.

[–]thomastheglassexpert[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

A smart answer thanks. My lesson learned.