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Thread: An interesting way to invest in gold in small quantaties

  1. #21
    Team Guns Network Silver 04/2013 alismith's Avatar

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    The price of Goldbacks is going up. It's been moving up for the past few months.

    I ordered some 1 Goldbacks a couple of weeks ago and they were $3.93 each, up from $3.83. Today, I checked and they're $3.99 now.

    After Christmas, I'll order some more before they go up any higher....
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  2. #22
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    Quote Originally Posted by alismith View Post
    The cheapest place I've found to order from is www.defythegrid.com.
    These all have hefty premiums if you calculate the actual gold value. About 40% if my calculations are correct.

  3. #23
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Quote Originally Posted by 1 Patriot-of-many View Post
    These all have hefty premiums if you calculate the actual gold value. About 40% if my calculations are correct.
    The only problem I see is that you can't buy gold in that small amount anywhere else. In a SHTF situation, it's pointless to try and buy a loaf of bread with 1/10 oz. of gold, but it's much easier to buy small items with these small notes.
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

  4. #24
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Just bought some more goldbacks and the 1 Goldback price is $4.11 now.
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

  5. #25
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    Don't know what you guys are seeing in this, if you calculate the gold in these notes, you're all paying 2-3 times what they are really worth compared to buying actual gold. Doesn't pass my smell test, buying gram quantities is still overpriced but makes more sense to me. Sorry. I'd buy silver before these. BTW what's the process of getting the gold back out of the notes? They're novelties, nothing more and nothing personal. You can buy gram bars for about $100, it's more of a value IMO.
    Last edited by 1 Patriot-of-many; 12-31-2023 at 12:09 AM.

  6. #26
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    Quote Originally Posted by 1 Patriot-of-many View Post
    Don't know what you guys are seeing in this, if you calculate the gold in these notes, you're all paying 2-3 times what they are really worth compared to buying actual gold. Doesn't pass my smell test, buying gram quantities is still overpriced but makes more sense to me. Sorry. I'd buy silver before these. BTW what's the process of getting the gold back out of the notes? They're novelties, nothing more and nothing personal. You can buy gram bars for about $100, it's more of a value IMO.
    I concur with this.

  7. #27
    Senior Member Oswald Bastable's Avatar

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    Quote Originally Posted by 1 Patriot-of-many View Post
    BTW what's the process of getting the gold back out of the notes?
    You're not supposed to get the gold out of them...that's not their primary purpose. So far there are five states producing them. The idea is to get as many states on board as possible, convince enough people and vendors to accept them in lieu of dollars, all with the idea that they might supplant dollars...particularly once our lovely overlords cancel the dollar and roll out CBDCs.
    If we refuse to rule ourselves with reason, then we shall be ruled by our passions.

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  8. #28
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    Quote Originally Posted by Oswald Bastable View Post
    You're not supposed to get the gold out of them...that's not their primary purpose. So far there are five states producing them. The idea is to get as many states on board as possible, convince enough people and vendors to accept them in lieu of dollars, all with the idea that they might supplant dollars...particularly once our lovely overlords cancel the dollar and roll out CBDCs.
    If that's the case my friend why are they more expensive than the gold that's in them. If they had the amount of gold in them at $1 in Gold, $5 in gold, then it would make sense. I might buy a few just for the novelty, but I'll stick to buying silver rounds and bars, coins occasionally and once in a while gold or platinum bars. Better yet for those notes the states should not only price them the above but also store as much gold to back them up on demand to have sound currency.

  9. #29
    Senior Member Oswald Bastable's Avatar

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    If we refuse to rule ourselves with reason, then we shall be ruled by our passions.

    He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond

    There are some things I will not abide within my sight!

  10. #30
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    Quote Originally Posted by Oswald Bastable View Post
    Interesting but still really just a sales pitch. Buying small quantity bars of gold still doesn't have the markup and the bigger you buy the less the markup becomes, and can then be sold at or near the spot price for gold. There's a reason i don't spend money on actual gold coins and rarely on silver coins, because they are well beyond the spot price of the actual metal involved as these notes are I tend to stick to Silver rounds and ounce to Kilo bars. The only thing that really holds value in these notes is the same trust in the Treasury note, and both could still become as worthless at anytime as the confederate note did. That said I'll probably pickup a few for the novelty and if they really take off and become a widespread use in the economy, Kudo's to you guys for predicting something I don't see happening. Hope we're still friends after my last little rant against this idea. This country never should've given Private banks the ability to print up "money" and loan it to the gov't. The gov't should've retained what's clear, Congress shall produce the money solitarily and kept us on the gold and silver standards.There will come a day when the country cannot pay back even it's interest to the scumsucking "Fed" and then it's all over, so I'd guess we agree on that. We've hit the point where 1 Trillion dollars is just the interest on the debt. Ever since the Fed was created we've had money that justs inflates itself into oblivion every time they light up the printing presses. Well anyway back to you guys.

  11. #31
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Quote Originally Posted by 1 Patriot-of-many View Post
    Interesting but still really just a sales pitch. Buying small quantity bars of gold still doesn't have the markup and the bigger you buy the less the markup becomes, and can then be sold at or near the spot price for gold. There's a reason i don't spend money on actual gold coins and rarely on silver coins, because they are well beyond the spot price of the actual metal involved as these notes are I tend to stick to Silver rounds and ounce to Kilo bars. The only thing that really holds value in these notes is the same trust in the Treasury note, and both could still become as worthless at anytime as the confederate note did. That said I'll probably pickup a few for the novelty and if they really take off and become a widespread use in the economy, Kudo's to you guys for predicting something I don't see happening. Hope we're still friends after my last little rant against this idea. This country never should've given Private banks the ability to print up "money" and loan it to the gov't. The gov't should've retained what's clear, Congress shall produce the money solitarily and kept us on the gold and silver standards.There will come a day when the country cannot pay back even it's interest to the scumsucking "Fed" and then it's all over, so I'd guess we agree on that. We've hit the point where 1 Trillion dollars is just the interest on the debt. Ever since the Fed was created we've had money that justs inflates itself into oblivion every time they light up the printing presses. Well anyway back to you guys.
    You're safe. If we were Commucrats, we'd be canceling you now, but we're not, so you're not canceled.
    Last edited by alismith; 12-31-2023 at 11:12 PM.
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

  12. #32
    Senior Member Oswald Bastable's Avatar

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    No worries 1Pat.

    And by the by...there isn't enough gold and silver in the world to sustain a metals backed economy. There wouldn't be enough dollars to go around, people would hoard what dollars there were, and it would all collapse.
    If we refuse to rule ourselves with reason, then we shall be ruled by our passions.

    He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond

    There are some things I will not abide within my sight!

  13. #33
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    Good to know guys I'm not disbanded from a band of brothers but I disagree to a part maybe not with the inflated dollars and other fiat currency at this point Oswald, but when it collapses we'll have the opportunity as a nation to do exactly that hopefully. It worked up until what 1913 when the fed was created in the dead of night on an island by a few scumbags.

  14. #34
    Senior Member Oswald Bastable's Avatar

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    Some economics 101 for you, with regard to gold backing of currencies:

    https://www.armstrongeconomics.com/armstrongeconomics101/economics/two-tier-monetary-systems-local-currencies/

    Valid currencies are now and always have been, what people agree they are and have confidence in.

    A bit more on Japan's contribution to the understanding of what is, and is not, valid currency:

    https://www.armstrongeconomics.com/r...country/japan/
    Last edited by Oswald Bastable; 01-01-2024 at 04:12 AM.
    If we refuse to rule ourselves with reason, then we shall be ruled by our passions.

    He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond

    There are some things I will not abide within my sight!

  15. #35
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    Valid currencies are now and always have been, what people agree they are and have confidence in. That's exactly the key, who really has faith in federal reserve notes in the long term? I certainly don't, they're backed by promises from a gov't that continues to borrow and print. https://www.usinflationcalculator.com/

  16. #36
    Team GunsNet Silver 04/2015 Nobeard's Avatar

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    Quote Originally Posted by 1 Patriot-of-many View Post
    Good to know guys I'm not disbanded from a band of brothers but I disagree to a part maybe not with the inflated dollars and other fiat currency at this point Oswald, but when it collapses we'll have the opportunity as a nation to do exactly that hopefully. It worked up until what 1913 when the fed was created in the dead of night on an island by a few scumbags.
    Willing to bet you've read 'The Creature from Jekyll Island' by G. Edward Griffin...

    For those who haven't:
    Those 'scumbags' were the 'banking elite' that found out the federal government was going to enact regulations due to all the panics and runs that were crashing banks.
    Their solution? write those regulations, then get their cronies in congress to pass it into law so they would have even more control over the money supply.

    The way it was explained to me as a kid was pretty simple:
    I'm going to loan you 100 pennies, at 1% interest, that has to be payed back in 10 minutes.

    In 10 minutes, you give back the 100 penny loan...but there's not another penny to pay the interest.

    No Problem!
    Now I'll loan you 110 pennies, at 1% interest, so you can pay back the 101 pennies and have 9 pennies left to play with (for 10 minutes).

    Times Up!
    Now you owe 111 pennies, but you only have 9...because the other 101 went to pay the first loan plus interest.
    (okay - it is '111.1' for the mathematically anal, cause there's always one in the crowd)

    How about I loan you 120 pennies?...
    NOW you can pay back the loan AND have 18 pennies left to play with...for 10 minutes.

    The interest only exists as ledger entries.

    Nothing was created, other than debt, so it can NEVER be payed off.

    If a private entity controls the money supply, it's a constant cycle of ever increasing debt that is destined to impoverish and enslave.


    Currency is just an easier and more efficient way to swap goods for services.
    But it has to be a standardized medium of exchange that ALL parties agree on.

    Hmm, how about an example?

    Lets say Bo, the farrier, wants XXXX to put shoes on a horse (or one 'X' per hoof).

    Gus, the farmer, wants X for two dozen eggs (one egg = 1/24th of an 'X').

    So 8 dozen eggs = shoes for the horse...but Bo doesn't need 96 eggs right now.

    So they strike a deal: both fill out and sign eight slips of paper, each worth one dozen eggs.
    Gus can get his horse shod and Bo gets 12 eggs every Sunday for 8 weeks.



    Works pretty good, until Bo goes to the local saloon...

    He hands the bartender one of the slips of paper and says "gimme a bottle of whiskey!"

    Bartender looks it over and asks: "WTF is this? A note that says 'Bo gets a dozen eggs from Gus?"

    "Yea!" replies Bo, "It's a deal I've got with Gus the farmer for puttin' shoes on his horse."

    Bartender snorts and throws it back at him "Take your Bo-Gus note an GTFO!"


    See what I did there?

  17. #37
    Senior Member JTHunter's Avatar

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    Quote Originally Posted by alismith View Post
    The only problem I see is that you can't buy gold in that small amount anywhere else. In a SHTF situation, it's pointless to try and buy a loaf of bread with 1/10 oz. of gold, but it's much easier to buy small items with these small notes.
    That is why you also have silver bullion - for those smaller trades. There are numerous types of 1 oz. and 10 oz. silver and you can save the gold bullion for large item bartering.

    ETA: here are two links that I use to check out both gold and silver prices.

    https://www.scoins.com/pricelist/tradingsheet.aspx

    https://www.monex.com/liveprices/
    Last edited by JTHunter; 01-01-2024 at 11:34 PM.
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  18. #38
    Senior Member Oswald Bastable's Avatar

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    Quote Originally Posted by 1 Patriot-of-many View Post
    Valid currencies are now and always have been, what people agree they are and have confidence in. That's exactly the key, who really has faith in federal reserve notes in the long term? I certainly don't, they're backed by promises from a gov't that continues to borrow and print. https://www.usinflationcalculator.com/
    Like it or not, the current confidence in currency is in the dollar, just as it was in Rome's money up until their fall.

    The tipping point is coming...commucrats are engineering it...but it is not yet.

    Yes, the dollar is destined to fail, fall, become worthless, but for this moment, the world still has confidence in the dollar...so as shit continues to hit the fan around the world, money will continue to flow in and bolster the dollar...until it won't...and then night falls.

    For Rome that moment happened when the Emperor was taken hostage by a foreign adversary...and then the bottom fell out...all confidence was lost in Rome and their money.

    Those who refuse to learn the lessons of history are doomed to repeat them...and unfortunately, those of us who have learned said lessons are doomed to repeat them with those who haven't learned.
    Last edited by Oswald Bastable; 01-02-2024 at 12:23 PM.
    If we refuse to rule ourselves with reason, then we shall be ruled by our passions.

    He, Who Will Not Reason, Is a Bigot; He, Who Cannot, Is a Fool; and He, Who Dares Not, Is a Slave. -Sir William Drummond

    There are some things I will not abide within my sight!

  19. #39
    Team Guns Network Silver 04/2013 alismith's Avatar

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    Gold prices are rising. For 1 Goldback, it's now $4.81.

    Pretty soon, I wont be able to get much more.
    "Valar morghulis; valar dohaeris."

    Commucrats are most efficient at converting sins and crimes to accidents or misunderstandings.-Oswald Bastable

    Making good people helpless won't make bad people harmless.

    Freedom isn't free.

    "Attitude is the paintbrush that colors our world." TV Series, Haven.

    My Spirit Animal has rabies.

    I'd rather be an American than a Democrat.

    "If you can make a man afraid, you can control him" Netflix Series, The Irregulars

  20. #40
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    A little off topic, but there's a one ounce silver round out that is snappable into 4 sections, that would be perfect for barter. A little overpriced on the premium for my tastes but I expect it will become more common place. https://www.jmbullion.com/1-oz-goldp...-silver-round/ https://www.jmbullion.com/1-oz-pop-b...-silver-round/

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