I've bought actual metal Gold coins twice in my lifetime. Both times I lost money. Not a lot fortunately.
Given my day late and dollar short propensity, I'm happy to not be holding gold right now.
Buying an investment is easy. It's the exit timing that's particularly tricky.
If TSHTF I'm not going to particularly interested in gold.
23 August 2011, Gold peaks at $1,883.36 per oz. Today, 20 January 2014 Gold sits at $1,252.85.
Hang on, I gotta take my shoes off to do the math.
K, the missing middle toe on my left foot notwithstanding, that appears to be a 33% decline since the peak.*
Meanwhile, I was paying $199 for a thousand rounds of 9mm throughout 2012.
Then 2013.
The best price I've seen for a thousand rounds lately is $400.
.223 seems to have floated down into a more reasonable range.
Lead, embedded in brass with sparkly stuff inside appears to have appreciated at least 100% in the same time period.
*WTF? Oh, wait. What do I need to shoot a squirrel or git me sum el gato tacos?
Eff that, no way am I melting down a Krugerrand. The crap we value, ne'est ce pas?
Yeah, I have watched that too. Interesting to say the least!
ReplyDeleteI'm not much of an "either/or" type of person "Either Precious Metal or Ammo" but more of a "both/and"
ReplyDeleteI buy Precious Metals when prices are low AND buy Ammo when prices are low/reasonable.
I do have a small (very small) supply of precious metals because a.) If the S does HTF, there will be a window when cash/credit is worthless but there are things I should purchase and b.) I think that society in some form or another will come back after a collapse.
I'll avoid putting on my tin foil hat (another metal to stock up in these perilous times) and discussing what appears to be deliberate manipulation of the precious metal markets. I will note that with prices this low, it might make sense to convert some long term savings or immediate but not liquid cash into something tangible.
In the mean time, I'm still buying ammo where/when I can. Just can't find the elusive .22lr