Bought some gold today...

[Telephus44]

...wow, felt a little weird. DH and I had been talking about diversifying our portfolio because of the dollar's decline, and how we both have a pessimistic view of the economy - so we actually bought a 1 oz Canadian Maple Leaf Gold coin. When it gets here we're going to go out and get a safe deposit box at the bank for it - DH doesn't trust the safe that we do have.

Not that I'm trying to pass out investment advice to anyone, but is anyone else here considering precious metals or already own any?

[M55FF]

I have gold I'm thinking about selling, mainly collectors coins. Not sure if I should now or wait for gold to go back up to historic highs again in 20 years and sell them at that time.
Just can't make up my mind.

I sometimes feel hanging onto them would be the best thing but then I feel how I hate having them as they are so very valuable and can get stolen or damaged.

I don't think I'd be buying any gold now... but selling would be good if you had the right conections to get a fair price.

[cissylu]

I don`t have any nor have I ever thought about this .But good for you.

[TheRootedNomad]

I've actually played with this idea recently as I was trying to figure out how to eventually diversify our retirement. In the past people were suppose to use the three legged stool -
1) pension,
2) social security, and
3) the stock market.

For us
1) there isn't a pension,
2) social security is questionable,
3) that leaves the stock market.

Even diversifying within the stock market is still the stocck market. I'm not sure what the current "stool" is suppose to be but what we are looking at is 1) stockmarket throught our work plans,
2) saving and buying extra property in cash either to rent or resell at a much later date, and
3) precious metals and /or commodities. (We're still researching what commodities are)

So, that said, from what I've researched so far small gold "bars"/coins will probably be the first step when we get to this point.

[frugal-fannie]

I have still been buying used jewelry, if I find a great price. I spent about 800 in the last month. I had planned to sell, but the chinese economy looks pretty strong so gold may go even higher. I am still planning on selling a small amount of my scrap gold. I may buy a gold stock fund in case of a major economic meltdown. I also want to open a sharebuilder account and I would purchase some AU stock.

[suki]

I'm selling gold right now. It seems the investment advice is to buy low, sell high. Since gold is at record prices, it seems more wise to sell than buy.