Dave Ramsey trashes owning gold

[mrs.oroblanco]

good job


Beth

 

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[brendan1414]

this post made me go out and watch Waterworld

 

[hombre_de_plata_flaco]

Jim,

You are right - everyone has to make their own decisions about investing or any of their money decisions.

However, when real estate is in the dumps - real estate is cheap - and one of the best values you can get (assuming you do your homework).

I will say - these people who buy your scrap gold only give you HALF of what it is worth - at best. And if you sell gold coins to them - they never take into consideration the coin value - only the gold.

I'm watching a program right now about it on tv - they offered 500 dollars for a $3.00 gold coin - worth $5,000. I do understand that the buyers have to make their profit - but - half?

I have heard Dave Ramsey's course - and read some of his books - I don't agree with him 100% - but, I do understand NOT buying gold (or anything else) until you have all your bills paid and you are DEBT FREE. Which, is his motto. Rice and beans and beans and rice, no going out to dinners - nothing - "live like no one else, so that you can live like no one else".

Beth

For many of us "in the business" these cash for gold places only help people like me get more business. Once one of these places blows someone out of their store ,and I double or even better the offer they received at one, I have gained a loyal customer who passes my name to the next. There are plenty of outlets that pay WAY over half value. You just have to do due diligence and find them. Unfortunately those spending the most on advertising, screaming the loudest, and using 5 people holding signs up on street corners are being seen enough to rip plenty of people off. This week alone ive had a deal where a girl was offered $80 for 25 grams of 18k gold by the local we buy gold folks. I payed $750 for what the cash for gold store offered $80. My payout was 83% of melt leaving me more than enough room to earn a living and keep a young lady from getting robbed. Ive now had 2 of her family in my store since she was in on monday.

I like how you do business.

 

[Immy]

With gold setting records almost daily, you think Dave would change his position, even a bit?

Nooooooo...

He spent the last few minutes of his show backing up his position yet again. And he seemed pretty annoyed, railing on gold buyers as "speculators" rather than "investors." He said gold's track over the last 50 years "sucks."

 

[jim4silver]

With gold setting records almost daily, you think Dave would change his position, even a bit?

Nooooooo...

He spent the last few minutes of his show backing up his position yet again. And he seemed pretty annoyed, railing on gold buyers as "speculators" rather than "investors." He said gold's track over the last 50 years "sucks."

What about the last 5000 years? No paper currency has ever held its value like gold over the long haul.

Jim

 

[Texas Jay]

Hi Immy. So Dave Ramsey thinks gold's track record for the past 50 years sucks, does he? I don't know where he's getting his information from but it's crazy. Like other posters have stated, I warn all of my friends NEVER to buy what I call "paper gold" or, for that matter, "paper silver". Personally, I don't like anything paper except for books and writing paper and wouldn't give an ounce of my gold for a bucketful of paper stocks. I'm not sure what the price of an ounce of gold was 50 years ago (1961) but I do know that when I began placer mining for it in 1988, us miners were thrilled when the price went above $400. So, from about $400 in 1988 to over $1700 an ounce now, it seems to have a pretty great "track record". By my calculations, that's even a better track record of growth than the price of a gallon of gasoline. I do know that silver was about $1.00 per ounce 50 years ago and now it's around $40. Not so bad a track record either, Davie ole boy.
If anyone watched Ron Paul, this weekend in Iowa, you may have heard him say that we needed to return to a precious metal standard for our currency and he went on to say that, according to the Constitution, we never went off of that standard. While the news media boasted about Bachmann winning the weekend's straw poll there, they hardly mentioned that Ron Paul finished second by less that a percentage point or so.
~Texas Jay