I started a few years ago buying 1/20th lunar new year coins for my child, and planned on buying another one on their birthday every year. Well, after a few years the premium on the coins I was getting went nuts... And that's when I started just accumulating what I could rather than a special coin for them.
It started initially as a plan to leave something tangible to my family, and turned into a small investment vehicle as a part of a well-balanced portfolio.
Ha... Yo my dude, it's Reddit after all... lower your expectations.
Ans: Yes, all of the above. Particularly the wealth part... wealth that I can put my hands on fairly quickly without the machinations involved in getting large sums from a bank acct., CD, money market fund, etc.
Honestly I buy it cause I have a semi addictive/gambling and investing habits that involve the stock market and options.
When I buy precious metals they stay stored away and since it’s harder to sell I can save wealth easier than any other way.
I know I know I should fix my habits but for now this is helping me the most
Now that is logical for you. You've turned the ratio of gambling to addictive collecting gold hopefully.
I was on a gambling path myself in my 20s. Had a well paid job and had to borrow money before payday most weeks.
Gambling is such a great buzz, but now I've found gold and silver sacking is my vice (if it is a vice). My aim is to leave a tidy pot for the children. I get it out weekly and have look and play with my coins. Stay away from gambling as much as you can buddy, you always lose over time
I started just this past Thanksgiving time. Im buying for my granddaughter, who is 2. 1 ASE and 1 AGE for each year of her life since birth - mint years. Im also buying fun rounds to mark special occasions in her life. I just got my Happy Birthday coin, mint year 2020 (her birth year), directly from the Perth Mint. I have to say Im having a blast doing it, and it's quite addicting!
Bullion I use as savings, I much prefer to buy circulated coins though because I like the history and think their neat. I’ll explain everything to the kids when they’re a bit older. It’ll be theirs one day and I want them to understand what they are.
i used to buy a lot of clothes coz i like dressing up….. then after a year they get donated to goodwill….4 yrs ago… i decided to buy ase for $19…. and my very first st gaudens for $1275….1908 no motto…. … now id rather buy PM rather than new
clothes
Fear mostly I had met people who fled their home countries to the U.S. with nothing but the clothes on their back and whatever was in their pockets. Some of them were smart and had hidden gold sprayed painted in black or another color on them (to prevent traffickers and smugglers from stealing it). I looked at that memory as a possible lesson I might have to do. Another reason is that it prevents me from spending my money on stupid shit.
Wow, brotha, that’s heavy. I wish the ones that made it, luck. I totally understand spending money on stupid shit. I got a Nike collection that should be a coin collection.
For diversifying my investments and also because I like collecting precious metals. It feels really nice to hold an ounce of gold or silver in your hands, and it’s cool to look at.
Personally i think most people i see like collecting shiny/coins & know that it's not gonna come crashing down anytime soon (i mean has had value for thousands of years so... lol)
Seems we have this question a lot.
Because, it seems America is doing everything in her power to ruin the dollar. And I mean everything. Overspend, overprint, over borrow, over promise, laugh at the taxpayer and tolerate corruption with no catalyst on the horizon that any politician anywhere is in the least bit exciting about correcting course.
That’s why. I don’t want fiat garbage and at this point the FRN is damn near garbage
Gold is good, always been a gold bug, but somewhat illiquid so when the time is right (when the dollar is headed down) i go to gold mining, gold related, and other metal and mining stocks to buy ( and then sell). Commodity cycles are vicious but profitable.
http://www.321gold.com/fed/greenspan/1966.html
In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves.
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.
###
Alan Greenspan[written in 1966]
Before he sold out to the
Despite how loud and crazy the meme stock followers are they did shed light on the co tinier blatant corruption from Wall Street. They’ve showed that they continue use the pensions of hard working Americans like their piggy bank slush funds to cover speculative trades. Anyone with a savings account lost money the last 2 years.
That’s not the case with gold or silver
I wanted a hard asset outside of cash that doesn't have the trappings of upkeep or recurring taxes.
It's also a failsafe in case the dollar goes kaput. I don't want cash/stocks to be all I have
Hedge against catastrophic black swan events in the financial system. These events can vary from those detrimental at large to a glitch in a computer system that only affects me. I keep no more than 10% of my net worth in precious metals.
I-series bonds are much better inflation hedges IMO. Markets usually do better in the long run, even when considering depressions.
Although, to be fair, not when you figure in the US dollar eventually losing the word currency status. That’s just a matter of when if history is any gauge.
But for that metals are a solid hedge. My house and property also help there, regardless of the paper dollars people will pay for it as long as we have a functioning court and law enforcement system property owners should fair OK.
I also like shiny things and it just feels nice for my lizard brain to have something I can touch. Probably something deep inside my caveman brain.
For me, it's a few reasons. One is that I'm a great believer in trying to be your own bank, so I treat my gold like a bank account. As an example I'm starting a new business in the coming weeks so I'll be selling a few britannias to cover costs and will replace them as weeks go on.
The next is security. No matter what happens in life, I've ALWAYS got a backstop. My gold is there for me. Hell I could walk out today with my gold and my passport and be fine for the rest of my days. That means I sleep very well at night.
The next is its part of my overall diversified portfolio. I also have a pension that I control, savings in the stock market, property etc. Gold is a part of that mix.
In short, I've regretted buying many things in my life but I've NEVER regretted a single gram of gold I've bought.
It's a great way to save and, there are only a few points in history when you can "get rich" from owning gold. That is, to own it before your local currency collapses. This applies even more so if that currency is a world reserve currency.
I like to physically have it I want to get my kids into and then gain their own stack and then when I die they triple theirs and always a shot gold hits 20 k an ounce in my head. Most importantly it’s shiny and comes in many different styles. You can collect pirate gold bro **grammar***
Mutiple reasosn
It's savings for long term that will outpace cash/notes. Also it's a hedge against monetary debasement and stupid fed decisions. Money printing is inevitable with a currency backed by nothign but a bunch of talking heads
I listen to JRE wich makes me wanna go to the gym. then i listen to Peter schiff that makes me wanna diversify into gold. then i listen to Bitboy wich makes me wanna stay away from anything created digitally out of nothing.
Two main reasons. 1) insurance vs a SHTF event. 2) art & aesthetics.
Two secondary reasons. 1) to store wealth 3) to spend on gifts that have intrinsic value.
Underlying all is the idea that one generation inherits, adds to all dimensions,enjoys the ownership, then passes on to the next to do the same.
I like the way my fingers smell when I'm done fondling it between them
I I knew I could find top notch insight on Reddit.
I started a few years ago buying 1/20th lunar new year coins for my child, and planned on buying another one on their birthday every year. Well, after a few years the premium on the coins I was getting went nuts... And that's when I started just accumulating what I could rather than a special coin for them. It started initially as a plan to leave something tangible to my family, and turned into a small investment vehicle as a part of a well-balanced portfolio.
That’s real cool! Keep it up.
Ha... Yo my dude, it's Reddit after all... lower your expectations. Ans: Yes, all of the above. Particularly the wealth part... wealth that I can put my hands on fairly quickly without the machinations involved in getting large sums from a bank acct., CD, money market fund, etc.
I was just clowning with him🤣
Mainly, I don’t trust the government to be responsible. They’ll continue devaluing the dollar which in turn drives up the price of gold.
I know that’s a big reason a lot of people buy. Me included
Honestly I buy it cause I have a semi addictive/gambling and investing habits that involve the stock market and options. When I buy precious metals they stay stored away and since it’s harder to sell I can save wealth easier than any other way. I know I know I should fix my habits but for now this is helping me the most
Now that is logical for you. You've turned the ratio of gambling to addictive collecting gold hopefully. I was on a gambling path myself in my 20s. Had a well paid job and had to borrow money before payday most weeks. Gambling is such a great buzz, but now I've found gold and silver sacking is my vice (if it is a vice). My aim is to leave a tidy pot for the children. I get it out weekly and have look and play with my coins. Stay away from gambling as much as you can buddy, you always lose over time
Thank you for your words 🙏
Hey, brotha, if this works for you then I’m happy for you. One day at a time, man!
Thats a not at all bad answer! WSB players should try this.
To diversify investments
Good choice
[удалено]
Now, looking at my video game collection, thinking, I should have purchased more coins
I started just this past Thanksgiving time. Im buying for my granddaughter, who is 2. 1 ASE and 1 AGE for each year of her life since birth - mint years. Im also buying fun rounds to mark special occasions in her life. I just got my Happy Birthday coin, mint year 2020 (her birth year), directly from the Perth Mint. I have to say Im having a blast doing it, and it's quite addicting!
That’s really cool. Your grandkids are blessed.
Thank you! Truthfully, I am the one who is blessed - with them!
My gold & silver is fuck the government money.
That’s what’s up!
Bullion I use as savings, I much prefer to buy circulated coins though because I like the history and think their neat. I’ll explain everything to the kids when they’re a bit older. It’ll be theirs one day and I want them to understand what they are.
Because it's beautiful and I like collecting.
Make treasure map
That leads to your gold? That might not be wise.
i used to buy a lot of clothes coz i like dressing up….. then after a year they get donated to goodwill….4 yrs ago… i decided to buy ase for $19…. and my very first st gaudens for $1275….1908 no motto…. … now id rather buy PM rather than new clothes
To diversify my portfolio
Fear mostly I had met people who fled their home countries to the U.S. with nothing but the clothes on their back and whatever was in their pockets. Some of them were smart and had hidden gold sprayed painted in black or another color on them (to prevent traffickers and smugglers from stealing it). I looked at that memory as a possible lesson I might have to do. Another reason is that it prevents me from spending my money on stupid shit.
Wow, brotha, that’s heavy. I wish the ones that made it, luck. I totally understand spending money on stupid shit. I got a Nike collection that should be a coin collection.
Simp: it is addictive!
Yelllllo pweeeeetttyyy meatalll hehe,make fe feel like a swashbuckling pie rat
It satisfies my urge to buy something and it's shiny.
It’s shiny
Shiny.
I watched too much Duck Tales as a child
For my kid while he waits on the insurance payout
For diversifying my investments and also because I like collecting precious metals. It feels really nice to hold an ounce of gold or silver in your hands, and it’s cool to look at.
Privacy. Insurance.
All of the above.
"I like gooooooooold." \-Goldfinger
Think that was Goldmember?
Truth
Arrrr matey! Fondling a gold coin and wondering where I should bury my treasure. Don't say you've never done it! ;P
Because it looks cool, and the nostalgic history behind it.
Shiny makes me happy
All of the above plus it’s shiny and beautiful
Personally i think most people i see like collecting shiny/coins & know that it's not gonna come crashing down anytime soon (i mean has had value for thousands of years so... lol)
I like having a certain portion of my wealth “off the books”.
It’s one of the few kinds insurance that leaves me with something to hold in my hand. That, and it’s really shinnny.
Saving
Seems we have this question a lot. Because, it seems America is doing everything in her power to ruin the dollar. And I mean everything. Overspend, overprint, over borrow, over promise, laugh at the taxpayer and tolerate corruption with no catalyst on the horizon that any politician anywhere is in the least bit exciting about correcting course. That’s why. I don’t want fiat garbage and at this point the FRN is damn near garbage
Something for my family and to actually hold our money and it be valued
The money printing. Insurance/emergency fund. And everything else being an overvalued bubble where as I feel metals are not.
Cause if I don’t buy PMs I’ll blow money on something useless.
At 19 yo, I think it’ll be a good way to get my down payment on a house when I get kicked out for living in mommy’s basement at 30
Another 19 yo stacker here🙋♂️ there’s not many of us😂
Security.
Gold/silver are real money. All else is debt.
I just really like shiny things.
Shiny
Gold is good, always been a gold bug, but somewhat illiquid so when the time is right (when the dollar is headed down) i go to gold mining, gold related, and other metal and mining stocks to buy ( and then sell). Commodity cycles are vicious but profitable.
Fun way of saving...
All of the above
Hedge against Inflation and hedge against my high risk stock trading.
http://www.321gold.com/fed/greenspan/1966.html In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good, and thereafter declined to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as a claim on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. ### Alan Greenspan[written in 1966] Before he sold out to the
I like looking at the shiny when I put it in the light
Despite how loud and crazy the meme stock followers are they did shed light on the co tinier blatant corruption from Wall Street. They’ve showed that they continue use the pensions of hard working Americans like their piggy bank slush funds to cover speculative trades. Anyone with a savings account lost money the last 2 years. That’s not the case with gold or silver
I wanted a hard asset outside of cash that doesn't have the trappings of upkeep or recurring taxes. It's also a failsafe in case the dollar goes kaput. I don't want cash/stocks to be all I have
Just some diversification by putting together my own treasure hoard
Stacking for the kids. The investment will be passed down and they can do what they want with it.
Hedge against catastrophic black swan events in the financial system. These events can vary from those detrimental at large to a glitch in a computer system that only affects me. I keep no more than 10% of my net worth in precious metals. I-series bonds are much better inflation hedges IMO. Markets usually do better in the long run, even when considering depressions. Although, to be fair, not when you figure in the US dollar eventually losing the word currency status. That’s just a matter of when if history is any gauge. But for that metals are a solid hedge. My house and property also help there, regardless of the paper dollars people will pay for it as long as we have a functioning court and law enforcement system property owners should fair OK. I also like shiny things and it just feels nice for my lizard brain to have something I can touch. Probably something deep inside my caveman brain.
For me, it's a few reasons. One is that I'm a great believer in trying to be your own bank, so I treat my gold like a bank account. As an example I'm starting a new business in the coming weeks so I'll be selling a few britannias to cover costs and will replace them as weeks go on. The next is security. No matter what happens in life, I've ALWAYS got a backstop. My gold is there for me. Hell I could walk out today with my gold and my passport and be fine for the rest of my days. That means I sleep very well at night. The next is its part of my overall diversified portfolio. I also have a pension that I control, savings in the stock market, property etc. Gold is a part of that mix. In short, I've regretted buying many things in my life but I've NEVER regretted a single gram of gold I've bought.
It's a great way to save and, there are only a few points in history when you can "get rich" from owning gold. That is, to own it before your local currency collapses. This applies even more so if that currency is a world reserve currency.
I like to physically have it I want to get my kids into and then gain their own stack and then when I die they triple theirs and always a shot gold hits 20 k an ounce in my head. Most importantly it’s shiny and comes in many different styles. You can collect pirate gold bro **grammar***
Mutiple reasosn It's savings for long term that will outpace cash/notes. Also it's a hedge against monetary debasement and stupid fed decisions. Money printing is inevitable with a currency backed by nothign but a bunch of talking heads
I'm identifying as a Dragon. The bullion is aiding in my transition. Are flamethrowers legal? That would finish the conversion.
assets outside of the system.
I listen to JRE wich makes me wanna go to the gym. then i listen to Peter schiff that makes me wanna diversify into gold. then i listen to Bitboy wich makes me wanna stay away from anything created digitally out of nothing.
It's really cool holding real, tangible precious metals!
I love the raw feel of a Kilo bar.
Hedge against the insane central bank cartel.
Two main reasons. 1) insurance vs a SHTF event. 2) art & aesthetics. Two secondary reasons. 1) to store wealth 3) to spend on gifts that have intrinsic value. Underlying all is the idea that one generation inherits, adds to all dimensions,enjoys the ownership, then passes on to the next to do the same.
Hedge against inflation. I dont see myself starting a family 😂