Mcgrimes

Don’t forget that before gold, we also used salt and farm animals as a currency. An obvious demonstration for currency being a store of value is that you can sell a gold sovereign today, and buy it back again next week. There may be a price fluctuation either way, but there’s a clear store of value over the period, unless you disagree. For whatever reason you guys hold gold, keep stacking! Just don’t expect to be using it as a currency anytime soon as it’s impractical to do so. As a real point of contention, do you see Bitcoin as a store of value?

Completely agree, apart from the fact it looks petty as well!

You’re entitled to your opinion, but by definition, a currency is a store of value, irrespective of its efficiency over a given time frame.

USD - it’s accepted globally and isn’t even backed by anything!

Haha, but you’re a nice zealot - we all have our passions! By very definition, a reputable currency is a store of value (to remove opinion from the equation). The efficiency on each store of value clearly varies over differing time frames; and it’s too easy to cherry pick to make a point. Worth noting that the downside with gold is loss of investment growth (beating inflation), and it’s a relatively illiquid asset with storage costs and high buy/sell spreads. Pick your assets for your investment timeframe - given the rising interest rates, I’d rather avoid a 6% mortgage than hold gold that yield nothing

A store of value is literally just that - something of value that is stored. Your house is a store of value, your bonds are a store of value, your blue chip stocks are a store of value, your pound notes are a store of value…. They’re assets. There are some zealots that will argue that only PMs are true stores of value, because they want and need to you believe the same. The relative value of each asset will vary. The benchmark is performance against inflation, but everything experiences volatility based on supply and demand. Currency is a great store of value in the short term, but is eroded by inflation if left under your bed.

If they were tipped off, then they knew.

My point is, why would you post everything that got stolen in a newspaper? I assume it’s all covered by insurance. How did the burglars know that stuff would be there in the first place? This stuff is usually well hidden

Those bars look like novelty items. I wouldn’t be airing the fact that I store bullion at home home if I did get burgled. Can’t help but have my suspicions

Gold lost 5% of its value in the past 6 months; just because something can lose value, doesn’t mean it isn’t a store of value. You also ignore the growth potential of fiat investments; 10k invested in the ftse 100 (with reinvestment of dividends) in 1987 would have 10x its value in 30 years according to HL. Though it’s easy to cherry pick dates to prove a point, I don’t know what the equivalent would be for a sum of money to be invested in 1913, I’ll let you look. Gold is also comparatively illiquid and suffers from fairly high spreads compared to other stores of value. To be clear, my previous question was sarcastic, I do see metals as stores of value.

How can a metal with very limited industrial use that can be mined from the ground be used as a store of value? Money is a store of value, because you can use it to procure products at a later stage. I’d argue currency was created with store of value being one of its prime purposes. Money can be printed (inflated), but so can gold by way of increasing supply. Granted, money is easier to inflate on a larger and more readily available scale. But scarcity doesn’t necessitate value.

As much as I like gold and silver, which is plenty, it’s even less useful than jewellery, which by design is intended to be displayed. Therefore, it’s perception of physical store of value is dependent on like minded people sharing this common mindset, which is less than those that see the same use in the USD, a significantly more liquid type of store of value. I suppose my point is that it isn’t one of two stores of value, but in actual fact, a fairly inefficient one

Gents Just to update, the brown spot was instantly removed with a flick of the flame from my butane jewellers torch. I’ve posted a picture of the same bar originally done so, but with said spot removed Thanks for the advice

That’ll teach you a lesson for posting about a recent price drop and getting excited🥴

Having some dollar holdings really changes the perspective on the GBP price movement of gold doesnt it!

Maybe worth looking at the price in dollars

I was concerned of fakes or manufacturing errors! I’m going to heat one up as recommended and see what the results are

I disagree with a lot of what you said. I didn’t elaborate on the delivery being to the wrong address, which I was displeased with. I didn’t expect them to be carded, I was happy for them to be loose. But the quality of the carding is poor. But surplus to requirements why I kept them. I didn’t expect them to be ‘perfect’, but they’re not as good quality as the other Baird products I have purchased, I’ve never had this staining on any other product before. That’s the main concern here. I don’t recall the premium, but I was happy with the price I paid. But the premium was higher than on the 2.5g, 5g, half ounce bars, which all display better quality I bought 1g bars because I wanted to. That’s the only reason. Low quality referring to the quality of the card, which isn’t as good as the other Baird products. The detail on the bars and subsequent discolouration is, to me, of low quality. appreciate the notes on the red spots. I’ve got a jewellers torch which will get it up to temperature, I’ll let you know how I get on! Otherwise, been happy with previous purchases of 1g gold bars. As I say, I’ve never seen red spots before and my first thought was ‘fake’ - not that I’d suggest there were any nefarious motives. I’ll remove reference to the supplier as to not cause concern, generally

Did some Googling and happy if this is just copper, I might follow the advice to heating to red hot, more out of interest than anything. Id say it’s sloppy packaging, but given its low price I do consider bullion and did so at the time. The cards are low quality compared to others. I didn’t expect them carded

About 2.5 years ago, I bought a not insignificant number of golds bars from a supplier. I wasn’t happy with the delivery, generally, as the certicards were low quality (easy to open, marked, stressed around corners turning white). In all cases, I kept them as they were reasonably priced compared to other dealers, and it was the height of covid. Ive still got most of these bars of gold, and today I got my collection out for inspection/inventory and noticed some discolouration on the bars. I don’t recall this being present about a year ago. The first picture shows a carded bar, where the bar was inserted upside down, with a small discolouration mark near the 1g. The second pictures shows a different bar with a slight discolouration on the reverse. I have a few bars like this, all 1g bars, with discolouration and generally low quality. Ever see this before? If these weren’t straight from such reputable supplier, I’d never of accepted in the first place.

I have a feeling that with increased adoption of the debit card, transaction fees across the platform will begin to increase to cover the fiat cost of doing business with plastic cards. Fee free transactions don’t exist, and you may have heard about the drama with crypto.com cards and subsequent reduction of card perks. It’s happened with a few other providers. But still, my point remains - bearish near term!

It’s all relative - so better fiscal policies like rising rates and would help other countries. But then, weaker currency actually increases foreign investment etc etc

Haha yeah, gold has been weak lately, but we don’t get the benefit because the pound is also weak! Bring on the bear market, I want more gold!

But gold has dropped from $2000 in March to $1650 today - that’s nearly 20%