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Bought my first gram of gold today

Posted by Zach055 10 years, 6 months ago to The Gulch: General
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I have been on this site for a long time, but only a few days ago I decided to buy one gram of gold. This is the first time I have ever bought gold and it arrived in the mail today. I know that one gram is a very small amount, but I wanted to start small and build up my collection. I just thought I'd share this with everyone on the Gulch.


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  • Posted by $ TomB666 10 years, 6 months ago
    Good for you! According to the most recent "Liberty's Outlook" newsletter, the US Dollar has lost 98.3% of its value since the creation of the
    Federal Reserve. Long term the trend is in favor of gold,
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  • Posted by illucio 10 years, 6 months ago
    My Congratulations! So nice of you to share your pride, news and joy. I myself do not believe in gold as high currency, not even diamonds for that matter. Again, I state that the highest currency on earth is blood, meaning that heritage is both sacred and vile. Yet I too have attainned my very own "gold mine", and it´s the domain of my very own calendar. Right now I´m merely skimming the surface, and planning where to "blast" off the mountains and rock. But I am partically self employed, I work where I chose and how I chose due to my knowledge, despite being employed as consultant in Urban Planning and Architecture. Therefore, I work sixty hours a week as a registered, tax paying citizen in both Sciences I just mentioned and as a Physics teacher in high school. I also work twenty hours a week independantly, and then some. Music Conservatory as a Pianist and Lyric Singer and a post graduate student in Territorial Sciences. I too want to share this with all of you, for I am full of pride to manage my time. I also practice swimming, soccer, martial arts and cycling.
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  • Posted by 9286cinder 10 years, 6 months ago
    Congratulations. It is yours, you earned it, and it's worth was likely stolen from you (I just read that part in the book yesterday),
    Ragnar. :)
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  • Posted by salta 10 years, 6 months ago
    Good move, Zach. Keep it up!
    The only thing I would say, just be careful not to get too attached to the "story" around gold (risks of hyper inflation, etc). You need to have an exit strategy otherwise the gold just becomes a curiosity. Decide how high the price can go to make you sell and take your profit, and also (possibly more important as a mental exercise) how low the price would go to make you decide it was a bad idea and sell.
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  • Posted by $ rockymountainpirate 10 years, 6 months ago
    Good for you. Best not to advertise it though.
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    • Posted by 10 years, 6 months ago
      One gram is only equal to about $50
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      • Posted by $ rockymountainpirate 10 years, 6 months ago
        It's not the $ amount. There are just some things best not advertized. It makes finding stuff more of a challenge.
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        • Posted by 10 years, 6 months ago
          Good point, I will not mention this on any other forums.
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          • Posted by Wanderer 10 years, 6 months ago
            Zach;

            I don't think you need to worry about people in your digital life, it's the people in your real life who will tell people you don't know, who will break in and trash your house trying to find the rumored million dollars worth of gold you have squirreled away.
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            • Posted by ewv 10 years, 6 months ago
              Digital life is what is monitored through the government mass surveillance and for the marketeers' "Big Data" tracking and sale of other peoples' privacy. Look at all the tracking sites leeching off galtsgulchonline (e.g. look with firefox plugins noscript or collusion). This is especially dangerous with a government that says the Tea Party is "terrorists" and who think Ayn Rand wrote books about "blowing up buildings".
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              • Posted by Wanderer 10 years, 6 months ago
                EWV;

                So you think the government or marketeers are going to harm Zach because he bought a gram of gold? Think he's up for an IRS audit or a flood of gold adverts because an unknown flesh and blood person using the digital ID "Zach055" told us he bought a gram of gold?
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                • Posted by ewv 10 years, 6 months ago
                  This tracking isn't normally done by people scanning posts and saving the content as a single item. It's done by automatic systems using algorithms to classify and link information together in patterns.

                  The marketeers are tracking everything they can and aren't likely to notice the significance of an amount mentioned in one post, or care. It marks him in the database as a potential or actual gold buyer, along with whatever else is of interest to their algorithms combining it with other data from other posts and other sources.

                  Government surveillance combines that with what they think of as "terrorist" politics, "anti-government", and "tax protestors".
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                  • Posted by Wanderer 10 years, 6 months ago
                    EWV;

                    Do you suppose the watchers know, or can find out Zach055's real identity? I suppose the NSA could crack The Gulch's database and get Zach005's email address, then crack that email provider's database and find out enough to track the poor guy down. So I guess we're really only anonymous to each other; Uncle Security and his friends know who we are.
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                    • Posted by ewv 10 years, 6 months ago
                      Yes they can find out. If the normal automatic collections and correlations don't do it across multiple sources they have the means to go after it directly if they care enough. They don't have to crack encryptions because they can track IP addresses, hack into application programs and a lot more, and have the means to intercept and reroute connections. How much resources they dedicate to it depends on how much they want it, but they are routinely doing a lot more, and can do more, at a level of scope and intensity that is staggering and which is more than most people can imagine.
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  • Posted by $ DriveTrain 10 years, 5 months ago
    Anyone else with tried-and-verified reputable sellers for precious metals? It would be great if we could get a list of them for people to choose from - I'm looking to get some silver and/or gold but am not keen on getting burned.
    .
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  • Posted by $ winterwind 10 years, 6 months ago
    Zach, congratulations. Gold is a symbol as well as valuable. The other advice here about diversifying is excellent. I'll add that, in general, the smaller the amount purchased, the more expensive per ounce it is. I think it has to do with economies of scale.
    Another fun thing to do [I probably read this here] is to watch the silver auctions on Ebay as they end and bid on anything that's a deal or even a reasonable price. You have to figure out the true price silver coins [pre-1965] are 90% silver; multiply the weight of the coin by .9 to get the actual amount or silver in the coin, and then multiply by the current price. A lot of the lots on Ebay go for 2X the real value, but some are fairly priced.
    again, congrats for thinking ahead. It's becoming a lost art in the U.S.
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  • Posted by CircuitGuy 10 years, 6 months ago
    Real value comes from people serving one another in mutual exchanges. Gold is one thing among many people exchange. It only has value because of people's willingness to go out and solve problems or help people in exchange for it.

    If you mow a large lawn in exchange for a gram of gold, that drop of gold is worth the cost of someone maintaining a large lawn in ancient times and probably will be about the same in the future. If you take it and buy equipment and hire people to help dozens, hundreds, and then thousands of people with their lawn care needs, that's where real value is-- going out and helping people. IMHO people get too caught up in the medium of exchange and forget that it's all about providing something that someone else wants.
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    • Posted by Kittyhawk 10 years, 6 months ago
      Great point. Gold is certainly a unit of exchange. But I think it's a much better way to store one's value than printed money, which is subject to heavy inflation and likely to crash at some point. If we get to that point where a wheelbarrow full of dollars will buy a loaf of bread, hopefully gold will retain some value. But perhaps food and the necessities of life will be even more valuable then.
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      • Posted by CircuitGuy 10 years, 6 months ago
        Printed money is horrible for storing value because it was not even designed to hold value; it's designed to be a medium of exchange that *loses* value over the course of years.

        Commodities like gold are nice because 10lbs go gold bought a good house in ancient times and today. But someone not concerned with storing value but rather creating and growing value can trade Mexican Pesos or whatever medium of exchange. If they serve customers and inspire employees, they'll grow wealth at a fast rate, regardless of whether they're using Mexican Pesos, USD, Euros, or American Silver Eagles. The only reason any of those have any value is someone is willing to serve people's needs in exchange for them.
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  • Posted by KYFHO 10 years, 6 months ago
    Yay for you. Tangible assets. Silver is a good buy too and sometimes easier to liquidate, especially silver eagles. Congratulations. Now, depending on your personal attitudes, food and/or ammo are good bets too.
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  • Posted by Robbie53024 10 years, 6 months ago
    Zach: Not much time. With the way that the gold price is being manipulated and kept exceptionally low, now is the time to stock up.
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  • Posted by wiggys 10 years, 6 months ago
    Tom,
    try to spend it! as for the dollar, it can be used all over the world and there is no currency from any place in the world that can be used in America, not even gold.
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  • Posted by wiggys 10 years, 6 months ago
    Have you ever tried to spend the gold; i.e. used it as money for exchange for a meal or a shirt? Probably not. just imagine going into a restaurant with you gold piece worth $50.00 and after eating they give you the bill and it is for $40.00. you give the waiter the gold piece and you tell him it is worth $50.00 so he can keep the change as a tip, you are generous. I believe he will ask for cash US dollars or a credit card. he will not take the gold. I am not a knowledgeable investor but I would find someplace else to invest my money unless of course all you intend to do with it is sell it when the price goes up.
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  • Posted by $ Abaco 10 years, 6 months ago
    Yeah, keep it on the down low. People have been robbed at gunpoint by a "guy who heard it from a guy" that you have gold.

    One other thing...those mail-order suppliers generate a record of your purchase. If you don't mind the gubment knowing that you have the gold, no problem.
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  • Posted by flanap 10 years, 6 months ago
    And why are we buying gold again?
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    • Posted by BrettScott 10 years, 6 months ago
      I'm with you. I assume people convert cash to gold because gold is less volatile. But, if the SHTF then the most valuable items will be those that preserve or end life (food, medicine, ammo). Forgive my ignorance, but what good is a soft, pretty rock at that point?
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      • Posted by $ Abaco 10 years, 6 months ago
        Well...it's up for debate. In recent history (Pol Pot) gold really helped sustain life for many families because they were able to buy food or services (even from the government officials) with little bits of gold. But, at that point the population had been unarmed, too. But, I agree that guns and ammo will be key if the SHTF. But, I don't think it's fair to equate the purchase of gold automatically with preppers.
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