As far as I'm concerned I will not buy any certificates for gold or silver and rely on a company to store it on my behalf. That would be exchanging one piece of paper(money) for another (certificate). I will always take physical posession - remember governments and royalty have been ripped off in the past trying to retrieve their gold and if they failed what are my chances ??
I was watching the prices of Au and Ag going up in big increments this last week.. then suddenly down in a large chunk. It's frustrating watching the price move positively and negatively!!! Will continue to buy as and when I can afford it however, and prey that I am not wasting my money!!
I think your strategy is right. My way of looking at it is to hold bullion longer term so I'm not worried if it goes down temporarily. Hang onto your bullion and make sure you take physical posession of preferably non-bearer gold/silver.
As far as I understand it means it is non government backed. All my bullion does not have a dollar value printed on it. It does not belong to any government and I am the owner. On bank notes it says the government will pay the "bearer" of the not the printed dollar amount. My bullion only has emblems of plants or animals on it and makes no reference to any currency. Therefore I am not only the bearer but the owner. Maybe other youtubies can comment on this.
I don't see the relevance of your distinction. You are most certainly the "owner" of any "government backed" coins you have. Coins are different than notes - they are not units of debt.
strongbadXCP thanks for comment. I'm no expert and maybe someone else can explain the difference between bearer and non-bearer a bit better. Maybe someone in the industry could explain whether it makes much if any difference what kind of gold you own.
Hunt Brothers who was really small timer cornered silver market. That shows how small silver market is. Try to corner 10 year treasury. hahahahaha
unworldlything 2 years ago
My basic view is if it goes up in value I'm happy. If it goes down I'm happy because I can buy more at a cheap price.
Michael7477 2 years ago
As far as I'm concerned I will not buy any certificates for gold or silver and rely on a company to store it on my behalf. That would be exchanging one piece of paper(money) for another (certificate). I will always take physical posession - remember governments and royalty have been ripped off in the past trying to retrieve their gold and if they failed what are my chances ??
Michael7477 2 years ago
I was watching the prices of Au and Ag going up in big increments this last week.. then suddenly down in a large chunk. It's frustrating watching the price move positively and negatively!!! Will continue to buy as and when I can afford it however, and prey that I am not wasting my money!!
CelticReject 2 years ago
I think your strategy is right. My way of looking at it is to hold bullion longer term so I'm not worried if it goes down temporarily. Hang onto your bullion and make sure you take physical posession of preferably non-bearer gold/silver.
Michael7477 2 years ago
Can I ask... What does 'non-bearer' mean?
CelticReject 2 years ago
As far as I understand it means it is non government backed. All my bullion does not have a dollar value printed on it. It does not belong to any government and I am the owner. On bank notes it says the government will pay the "bearer" of the not the printed dollar amount. My bullion only has emblems of plants or animals on it and makes no reference to any currency. Therefore I am not only the bearer but the owner. Maybe other youtubies can comment on this.
Michael7477 2 years ago
Ok. thanks it makes more sense now. Regards, CR
CelticReject 2 years ago
I don't see the relevance of your distinction. You are most certainly the "owner" of any "government backed" coins you have. Coins are different than notes - they are not units of debt.
strongbadXCP 2 years ago
strongbadXCP thanks for comment. I'm no expert and maybe someone else can explain the difference between bearer and non-bearer a bit better. Maybe someone in the industry could explain whether it makes much if any difference what kind of gold you own.
Michael7477 2 years ago
and he was right!
stellaconcepts 2 years ago
I hope David Morgan is right! mad rush into precious metal! it would be really crazy!
unworldlything 2 years ago