Glenn Beck loves the Goooooolldddd

[the last yatto]

[Iason Ouabache]

Rep. Weiner is coming out swinging against Glenn Beck and Goldline:

http://tpmlivewire.talkingpointsmemo.com/2010/05/-weiner-takes-on-becks-goldline-ties.php

But nevertheless the fray began when Weiner rolled out a report this week that questions Goldline's legitimacy. Weiner alleged that the company "uses aggressive sales tactics, conservative spokespeople and rhetoric to sell over-priced gold coins to unsuspecting consumers." Weiner pilloried the "unholy alliance between Goldline and conservative pundits" -- who he calls "paid endorsers" -- and is proposing legislation that would force Goldline to reveal details of their business practices.

[Triple Zero]

gold is heavy and not easily hidden (METAL)

wha?  the wealth density of Au well outpaces the mass density.  it's pretty easy to hide, and doesn't take much room for a ridiculous amount of tangible value.

hey I wondered about this, WTSHTF, you got some of your savings in gold bricks, each of which is easily worth 200 euros. how do you "pay" with that? cut off some bits? or do you rather invest in gold jewelry which is smaller units and potentially can be taken apart?

[Elder Iptuous]

i went to the Goldline site, and wasn't able to find prices....
do you have any idea how much they are gouging people for?

some of these operations you can occasionally get pretty good deals from in the loss leaders, as long as you can withstand the Jedi mindtrick hard sell....

[Elder Iptuous]

hey I wondered about this, WTSHTF, you got some of your savings in gold bricks, each of which is easily worth 200 euros. how do you "pay" with that? cut off some bits? or do you rather invest in gold jewelry which is smaller units and potentially can be taken apart?

if, by brick, you mean a coin the size of a nickle, then i wouldn't recommend cutting it, because you're going to lose the premium afforded by a gov minted coin of known dimensions and stamped with purity, etc.

as i mentioned before, the better use of this type of gold is to carry through until a decent monetary system pops back up again.  until then, you can barter, or use something of lesser value. 
Silver coinage is popular among survivalists for this purpose.  (our coins before 1965 were made of 95% silver and they are now bought sold in bulk)
another alternative, as described by a fellow that goes by FerFal from Argentina when TSHTF there, is to do small scale transactions using the 10k and 14k jewelery.  that became popular in the markets, he said.  he recommends purchasing some from a pawn shop to use in that event.  the added benefit of that, he says is that, in desperate times, you aren't going somewhere flashing a sackful of some valuable commodity, but instead you can offer up a gold ring that you claim is your mother's wedding ring, thereby looking more desperate than the other sadsacks....

[Triple Zero]

well, a while ago I looked at things to invest some of my money in, and the smallest gold brick in the bank's catalog (or wherever I saw it) was about 200 euros.

[Elder Iptuous]

well, a while ago I looked at things to invest some of my money in, and the smallest gold brick in the bank's catalog (or wherever I saw it) was about 200 euros.

that was probably a 5 gram bar.
they can call it a 'brick' if they want, but it's the size of your pinkie nail...

[Triple Zero]

only 5 gram????

for 200 euros????

whoa

I guess I didnt check the scale on that pic then.

[Elder Iptuous]

yeah, the smaller the amount, the higher the premium over current spot.
and the dies they stamp them with are really nice, so a good macro shot of it can make them look huge going by the detail...  calling it a 'brick' doesn't help.
gold is expensive.

[Elder Iptuous]

Tripzip,
just for reference,  this is currently $1200 worth of gold.  it sells for about 1250 right now.

crazy, huh?

[Remington]

Tripzip,
just for reference,  this is currently $1200 worth of gold.  it sells for about 1250 right now.

crazy, huh?

Whoa.

[Triple Zero]

crazy.

[the last yatto]

a roman coin with a double digit AD date goes for about that, IN ONE COIN

[Elder Iptuous]

a roman coin with a double digit AD date goes for about that, IN ONE COIN

yeah, but that's numismatics...
(although it is made out of, what, electrum or silver? that doesn't account for much)
this is just the metal.  so if you buy a brand new 1 tOz coin, then it's 1200 + premium right now.

I would like to get into the ancient coins though.
you can get common ones cheap out of a bucket.  that blew me away when i went into the coin shop for the first time.  i figured any thing that was identifiable as being a couple thousand years old would be worth some real money, but you can pick them up for a couple bucks....

[Mesozoic Mister Nigel]

You know, this makes me think of all the bonds my grandparents bought me when I was a kid. Which my mom lost.

Sigh.

Gold was about $300/oz then. It WOULD have been a good investment. Now, my money's on salt and liquor.