Newbie Questions

[New2Metals]

I am quite nervous about buying gold right now at these prices as when I graph the past 50 years, it seems quite high. I am thinking of only adding a small amount at a time so I can see how things are going in relation to other metals and fiat currencies. Having said that, when I see something like 1/2 or 1 ounce Australian or US coins I believe I am buying them based primarily on the price of the weight of gold therein and not any collectable value of the coin itself. Does it matter if they get dinged or something in storage when I go to sell them? Also, are the coins like that would a 1/4 ounce coin and a 1/2 coin be the same size with some kind of filler material or is one coin literally twice as big as another.

[HerefordBullyun]

Rememeber one thing. Its a storage a value. prices go up and prices go down, hold on to it long enough and you will get your money back and some. This is a waiting game and also its insurance against fiat money. Paper burns a lot quicker than gold/silver. Patience brings prosperity not a quick buck game. If you want that go into the markets.

[silenceissilver]

It depends on your further circumstances and plans. If you want to buy gold over a long period, it's the right thing to buy only a bit but that on a regular basis, you will then have a price average effect and don't need to worry about highs and lows. The rise in price over the last 50 years reflects the devaluation of the dollar and the other currencies. I have recently watched James Bond Goldfinger and a 400 ounce bar was £5000 there. I know a particular house that is now worth about £250 000 was, I can't rember, either £2000 or £3000, in the early 1960s. I wasn't alive then but someone I know considered buying this house back then.

It also depends on what you have now and what you think will happen with it in the beginning economic crisis - what do you want to use to buy gold? Money from a saving account? I wouldn't keep any money on it. Bitcoins or other crypto currencies? They have a huge potential upwars but can also go to zero - so trading them in for gold or not would reflect your propensity for risk. Do you want to sell shares? Personally I think we haven't seen the bottom yet at all but others might disagree. I'm asking because it seems you do consider to buy a bit more at once versus buying just a bit for now and continuing to do so over a long period. The most important question is, what would the alternative look like? We don't know that and thus can't really answer your question.

[Prophecy]

Gold has always been roughly the same value it has ever been... its the fiat currency we use to purchase it that is losing its value. OVER THE LONG TERM.