Gold? Need your wise opinions and input.

[gateley]

My best friend wants to sell his stock (he only has one -- Apple -- and it's done very well!).

I suggested he look into putting the money he gets into gold. Not for an investment, but that its future value may be less shaky than that of the dollar.

I know nothing about investing or having money :7, but to my tiny mind it makes sense.

Thanks for any thoughts!

[DrDan]

1. well Hannity, Beck and G Gordon Liddy all promote gold

that's enough for me to stay away from it . . .

that and and the fact that the price is very high right now



and consider that it is currently $1128 an ounce

[Auggie]

2. I'm looking into the category of precious metals...

specifically Mutual Funds. Much more diversified than gold, yet these funds have been hammered lately.

[safeinOhio]

3. Not a major part of my investments, but I do

buy and sell a little here and there. Sold 3 1oz coins when it hit $1,200 a little while ago. Every once in a while I'll pick up some pre 1964 American silver coins. It is my only keep at home or safe deposit box stuff in case things do fall apart.
Biggest problem is not getting ripped off when selling. Almost all local buyers are crooks. I sold the gold thru http://bullion.nwtmint.com/silver_bags.php
and they actually bought at a premium. Just enough to cover my postage and insurance. You call and lock in your price and then wait a few weeks for your check. Well worth it as all the local dealer wanted to knock a hundred bucks off spot. I have bought some bags of silver coins from them too. Same deal, call and lock in the price, send check and let it clear and then get your bag a month later.
I also have 100 shares in a gold company on the NYSE. Have done well on that as I bought it about 10 years ago.

[Capn Sunshine]

4. While I can't argue with the hard asset idea, why buy something that is at all -time highs

and is cyclical? Even the Post-Armageddon idea seesm a bit lame; imagine trading a piece of shiny metal for anything of real value. I'd be like "screw you, do you have any 50 cal or .45 bullets? Gasoline? Flour? Capn Crunch?

[Hokie]

5. I bought gold funds around 2002 (Against my broker's advice)

I have done very well obviously. I am getting out of them and back into stocks. When idiots like Beck start pushing metals you know the lambs are being led to the slaughter.