Your gold story. How it happened.

[freefall]

Personally I don’t know anyone else who collects gold so I’m interested to learn how other people got started, their motivations and what it means to them. What’s your story?

I'll start with my own.

 

My initial fascination with gold started when I was a kid. Like many households we always had an Argos or Index catalogue lying around that I would flick through when I was bored. As you would expect I spent a lot of time looking at all the toys but it was the jewellery section that really caught my eye. I liked all the birthstones and gems but my favourite pages were near the end of the jewellery section, it was all the gold chains. I used to sit and stare at the weights, purity and price of them for a reason I can’t fathom even to this day. The first piece of gold ever bought for me was by my mother when I got my ear pierced. I got a 9ct gold stud and hoop. A few years later after a fair amount of begging at shop windows she bought me a half sovereign ring and my brother a full sovereign. They were either lost or sold I guess and my gold story goes cold for a decade.

The financial crisis and great recession was my induction into the world of economics. I remember watching the TV as the queues formed outside Northern Rock and then like dominos the banks started to collapse. The government started QE and the bailouts commenced. What caused it? Where did this money come from? Who was going to pay it back? Pandora’s Box was open and my studies began. All the cash for gold shops appeared on the high street as the price took off - gold was more than just jewellery - gold shone bright once again. I seriously considered buying my first gold during this period but never followed through although my faith in the financial system was gone never to return. In the following years new terms and trends emerged. Help to buy, 0% finance, balance transfer credit cards, PCP car loans, early pension drawdowns and negative interest rates. I reasoned this was totally unsustainable, can only end in pain and it was time to prepare. I cleared all my debts then began living well within my means and saving in earnest. I knew what I had to do.

I bought my first gold from the Royal Mint. Three and a half ounces of pure gold were delivered by post the next day. When I opened the parcel and held the coins in my hands I was taken aback by the density, the purity, the colour. It was outside the financial system, untaxable, free from manipulation. It was perfect. It was that day I became a goldbug.

I’ve accumulated more incrementally and now it amounts to around half of my total assets. I’ve learned more about golds history as money and its universal appeal across ages and continents. I still don’t fully understand our love of gold which seems irrational but so is much of what we do. Gold is many things to many people but I view gold as the perfect way to store time. Immutable from government policy and excess in perfect parallel to its physical properties. I don’t care too much about price fluctuations because in the long run I’m as certain as I can be that gold will serve that purpose. During times like these it brings me comfort to know that I own gold and I’m sure I always will.

[Tn21]

Nice to read your thoughts and opinions above, I got into Au, not too long ago (few years back) I see it as a savings mechanism and I try and buy as and when possible. When I do purchase I don't really appreciate the PM as much as I should but I'm not a real collector, more of a stacker. 

 

 

[CadmiumGreen]

Gold as a concealable form for potential payment in an Escape and Evasion situation...Special Operation Forces during the war behind enemy lines. And John Wick!! Seriously because it serves as a retention of wealth and not buying senseless goods that aren’t needed. 

[GrahamDiamond]

I just watch Grumpy Dave the Golden Turtle spend my funds on the Shiny Golden Coins, he always seems to choose well. Bought a 1925 Gold Sovereign twenty years ago, added a few Gold Coins to my collection in the following years. in 2017 Peter Rabbit Colour 50p coins were Released I was back Hook Line and Sinker, quickly got back into collecting Silver and I became a Flipper of Silver. My Profits purchased Gold ! Have not looked back since, I have realised you can sell Silver and Commemorative coins at 50% mark up, so I keep Buying and Flipping, all profit's  go to Purchasing Gold ! Started my You Tube Channel with my Sidekick Grumpy Dave The Golden Turtle, Will continue until I loose interest or the Grim Reaper comes a Knocking.

I am having a Blast at the Moment, Love The SilverForum and YT Coinster's !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!    I Love Coins ................................................... Me !!!!!!!

[trozau]

My first exposure to gold coin is (when as a kid) I examined and fondled an 1868 Filipinas 4 Peso gold coin that was given to my father by my grandmother.
While in Canada in 1982, I became aware of the 1 troz gold Maple Leaf coin and wanted to acquire one. Later in the US, my first gold coin came in 1984 when my wife gifted me a 1983 China 1 troz gold Panda.

[Groundup]

 @freefall said...My initial fascination with gold started when I was a kid. Like many households we always had an Argos or Index catalogue lying around that I would flick through when I was bored. As you would expect I spent a lot of time looking at all the toys but it was the jewellery section that really caught my eye. 

When I was a kid  Argos/Littlewoods catalogue's was use to look at the ladies underwear section.

As a child pawn/jewelry shops always got my attention, I could never pass one without looking at all the shiny metal things... I loved stories/films about pirates and buried treasure.

I remember digging in the a vacant council house front garden hoping to find  treasure. I even believed that there was a pot of gold at the end of a rainbow. I was very gullible. I still am.

As an adult it all got forgotten about and precious metals/jewelry never played a part of it. Working - mortgage family- going out was the norm. All that changed when I watched a News program with this crazy guy called Max Keiser  talking about Gold/silver and this new thing called bitcoin. It took me right back to my childhood days, who'd have thought them shiny PM's had such an amazing and important role in history.

One day I might be that pirate who sails off into the sunset with the treasure the girl and the wind at my back.🤪.

 

 

[dicker]

For me I was doing a job somewhere that I needed to be able to be able to get out of if things got sticky. A pouch of Sovs would ensure I stood a good chance of paying my way to safety if the need arose.  
 

Then met my wife whose family lived in Perth (Australia).  Her father had collected bits of gold - both from fossiking In the Pilbara from the Perth Mint. We enjoyed talking gold and the odd visit to the Perth Mint.

Simple start for me!

 

 

[DBCooper]

For me it was about saving outside the banking system and having access to liquid highly portable assets at short notice.

Life is full of ups and downs. When you are down financially. Having access to some metal, Gold or Silver quickly and with out anyone knowing can often save the day.

Once the stack started growing and life turned around for the better over the years it just became a habit to keep buying the shiny stuff when ever I could afford it. I have always worked on the principle that if you don't hold it you don't own it, and what they don't know you have they can't take  away from you. Gold fits that need perfectly.

regards

DB

[freefall]

3 hours ago, Groundup said:

As an adult it all got forgotten about and precious metals/jewelry never played a part of it. Working - mortgage family- going out was the norm. All that changed when I watched a News program with this crazy guy called Max Keiser  talking about Gold/silver and this new thing called bitcoin. It took me right back to my childhood days, who'd have thought them shiny PM's had such an amazing and important role in history.

I used to watch the Keiser report too. He’s been banging the door on gold for years but now it’s more bitcoin. His anti establishment message sat well with me. My trust in government had totally gone after the war in Iraq and the financial crisis. Loved his zany style and straight talk. I didn’t take what he said as gospel but it was the only place I could find someone who had a platform to attack the mainstream narrative. I found my own truth somewhere in between. I always find it funny when RT gets branded as a Kremlin mouthpiece when that’s exactly what the BBC is too. 

[Groundup]

@freefall yes it was pretty much a stepping stone to do more research and find other voices to further my knowledge and understanding, plus he wasn't trying to sell a product like many other commentators.

[Serendipity]

I collect gold for both investment and numismatic reasons. I love to regale forum members with the history of the royal characters on my sovereigns. The coins wouldn’t be as interesting if they were just blank gold discs. My first introduction to gold first came through the constant James Bond Goldfinger repeats on TV which gave me the impression that you must be some kind of villainous zillionaire to own any kind of gold. The glamour of gold caught my attention all the same and I ordered a sovereign from the Royal Mint as well as a limited edition Lord of the Rings gold ring with Elvish inscription. Unfortunately, I sold off both items to some unscrupulous pawnbrokers at a big loss. However, those first gold purchases were enough to whet my appetite for more of the yellow metal.

Edited May 8, 2020 by Serendipity

[silvernewbie]

I started by grandparents buying me a 22ct Gold chain as a kid, then 20 yrs later I started buying Gold funds then following a bad experience with a debit card backed by Gold (Glint), I started reading "if you don't hold it you don't own it", so loaded up on Sovs!  Prices now make me dizzy, I hope it goes down so I can buy more 

[AgCoyote]

My initial interest in gold/silver stems from being a supporter of the Ron Paul campaign. I never liked the debt based credit driven Keynesian system. I abhor debt and value the freedom of being solvent. In 2008 and 2012, I supported Paul for president. In 2008 he had me because of his foreign policy stance and I liked that he was fervently against the welfare state while being principled. In 2012 my support was far more nuanced and by that time I had acquired a modest amount of silver.

I began stacking silver again in 2017-18 but had never got gold yet. In 2019 I bought  my first 1/10 oz Kangaroo and it was beautiful. My gold holdings while still modest are increasing rather quickly. I have to say I always wondered why silver isn't more loved by people as it very beautiful. It always made a little upset that people don't view it on the same level as gold. Then I got gold and I can understand why people view it this way. There's just something about gold that's inexplicably alluring.

[Bxlsteve]

I started buying silver and gold as a way to spend without spending. Simple as that 😄 

[freefall]

4 hours ago, AgCoyote said:

My initial interest in gold/silver stems from being a supporter of the Ron Paul campaign. I never liked the debt based credit driven Keynesian system. I abhor debt and value the freedom of being solvent. In 2008 and 2012, I supported Paul for president. In 2008 he had me because of his foreign policy stance and I liked that he was fervently against the welfare state while being principled. In 2012 my support was far more nuanced and by that time I had acquired a modest amount of silver.

I began stacking silver again in 2017-18 but had never got gold yet. In 2019 I bought  my first 1/10 oz Kangaroo and it was beautiful. My gold holdings while still modest are increasing rather quickly. I have to say I always wondered why silver isn't more loved by people as it very beautiful. It always made a little upset that people don't view it on the same level as gold. Then I got gold and I can understand why people view it this way. There's just something about gold that's inexplicably alluring.

I'm with you on the welfare state. Tenants in the UK have been permitted to defer rent for 3 months due to the pandemic which is understandable. Now a movement is gathering pace for indefinite rent cancellation backstopped by the state or possible mass rent strikes. Must be tough to be a landlord right now. The government will print the money to avoid civil unrest. People are convinced its the governments job to support them.

Whilst silver is nice, nothing compares to the allure of gold. I bought a 22 carat rope chain about 2mm in diameter from a Indian jewelers in London. The facets are cut to catch the light as it moves. People have asked me if its real or fake because of the deep yellow colour. 

[adamthetaller]

Aside from an 18th birthday gold necklace... Mine started with realising we had more coming in than out, the banks were offering zero real interest, and I was far too tempted to spend spare cash on 'collectable' junk. Start of 2019 bought a couple of 10g bars from Royal Mint then started doing my research and funneled my need to collect into something with more intrinsic value than pop culture plastic collectables.

Wish I'd gotten in around the 2014-2016 lows (well, early-to-mid 2000s lows would have been nicer but I couldn't afford much then!) but happy to have got a couple of sub-£1,000 1oz's and sub-£230 sovs considering today's prices!

[Foster88]

I think mine started when I was a child too, my grandparents had been to visit my grandads sisters family in Perth, Australia in the late 80’s.

My grandad brought back a sizeable rock which is gleaming on about 10%/20% of the surface with gold. As a child I was always fascinated in rocks, fossils and crystals, my bedroom was full of them.

Every time we went to see them I’d ask to see this gold glinting rock. He told me he found it whilst out on a walk over there down by a river in perth, so he picked it up and brought it home. 

A few years before he passed away and just as I was leaving after visiting them he handed it to me and said “Here you have this, you were always fascinated by it as a child” and I still have it to this day. 

Now, how do I know it’s not got a big nugget of Australian gold in the middle? I don’t. 🤔

But it would take me until 2018 until I bought any sovereigns.

Now, where did I put that rock....

[Tape]

I started buying gold because the US federal notes are no more than an IOU.

[Guest]

It all started for me when I was talking to my dad about an advert for gold bullion and he mentioned krugerrand coins.

At the time, I was beginning to realise that I had more money coming in than going out and obviously was saving as much as I could from that Into a bank savings. However, here in the UK, if you save more than £85,000 with a bank, under the FSCS scheme, if the bank collapses you’ll only get £85,000 back, nothing more - which didn't provide much comfort for me.

Also, there is hardly any interest being earned on savings accounts which put me off, even now. So I decided to change the way I saved, using NS&I allowed me to save more than £85,000 and it is backed 100% by the Government. Buying gold bullion is a long term investment plan for me, because it’ll hold its price and most likely increase when I retire in 25/30 years and I see it as a strong alternative to currency. 

[SilverMike]

I started as a child with stamps, first day issues mainly. Then was given an old tissot watch box full of coins my grandad had collected through his life marking significant dates, nothing valuable pennies, etc which I really enjoyed picking through in awe at the age of them.

then a 30yr + gap until I had my son in 2015 and thought it would be nice to mark his birth year with a Sov, then my daughter a few years later, that spiralled and here I am today 😄 .... not quite where it started but whenever i read or hear “Krugerrand” I can’t help but picture Danny Glover in lethal weapon and ive always had an interest in buying some so that goes back 25years or so I guess ....

[RacerCool]

I started as the poor man stacker years ago: I'd get a few silver coins here and there as I was able, to add to the tiny collection of silver dimes and quarters I might find in change. And I mean it was the poor man's way, by buying $1 face whenever I could.

Gold wasn't even a dream. No one like that can reach high enough to pay off his debts, let alone buy gold! But a few years ago I was finally in a position to pay down most of my debt, and begin buying gold. And since then I've been building a gold stack as well a bigger silver stack.

[freefall]

6 hours ago, RacerCool said:

I started as the poor man stacker years ago: I'd get a few silver coins here and there as I was able, to add to the tiny collection of silver dimes and quarters I might find in change. And I mean it was the poor man's way, by buying $1 face whenever I could.

Gold wasn't even a dream. No one like that can reach high enough to pay off his debts, let alone buy gold! But a few years ago I was finally in a position to pay down most of my debt, and begin buying gold. And since then I've been building a gold stack as well a bigger silver stack.

Glad to hear it mate and long may it continue. Releasing yourself from the bondage of debt should be a priority for everyone. Except in extreme circumstances all debt is optional. 

Edited May 12, 2020 by freefall

[Metalisreal]

When my father starting making, well, "real" money starting in the eighties he bought an Eagle and Double Eagle and had them mounted on pendents (which I hope to inherit one day when he passes). I never gave that much thought until I started stacking silver in the 2011 run-up. I remembered that and decided maybe I should get some gold, too, so I bought my first 1/10 oz Eagle bullion. 

[Tangomachine]

As a child I collected old british coins and foreign  currencies left over from holidays. Was given a 2 pence cartwheel which I still own. My dad bought me a 1998 1oz silver britannia out of the newspaper when they were released (westminster advert)

Eventually lost interest through school, and for my 18th I was given a half sovereign by my parents, and for my 21st, a full sovereign.

Again, left in a box hidden away and forgotten about. 2015, and I cant remember why, but I decided to buy 2 x 20g gold bars from bullion by post. Again left in the same box as the sovs and forgotten about.

Finally in 2018 pretty much bang on 2 yrs ago, I decided to buy 5 x 2018 perth mint silver dragon bars and after that I well and truly got the bug

[Goldmick]

Well for me i started watching all them gold tv programmes on tv and loved the idea of owning some gold and liked the idea of how much work and how rare it really is i was lucky with my timing with the gold price i remember saving up for a 100gram gold bar it was only a few months before when we first learned about leaving the European union cant remember the price for sure but only had it a month and the price went up a fair bit.  I sold it after a while and started my journey with sovereign.s oh dear bad mistake lol. Its as you khow quite addictive just over a year ago i was 55 and thought sod it im gunna take half my pension out and buy some nice sovereign.s i did lol a few 5 sovs and a few sets even bought about 12 of them harington special price ones at £230 ish ive been so lucky i seem to buy at great price and yes sold all them for a great profit think the month i sold them was highest price for ages most of my friends thought i was crazy with my pension and also using most of my wages buying sovereign.s but ive done good and i love to tell them how much i payed and how much ive made better than a bank account ive had a lot of fun to its great when i have needed some funds ive just sold on here and allways done good i have fantastic feedback to lol. Mist of my coins have gone up in value a fair bit. Ive also graded a fair amount of my sovereign.s and been lucky with grades. Ive learning that seems its better to just buy bullion ones no waiting for grade.s and easy to buy and sell but i hate selling any of my coins lol. It was a friend that said look when the price is high and you can make a profit a good one sell some like i said my timing by just luck couldn't have been better.