Originally Posted by
Edwin Santos
Jim,
Good job if you bought gold at $10/ounce and have held it. Even if it were 30 years ago, at today's spot rate, your return has been over 18% annually compounded. Not too many people could beat that.
Just as a comparison, the average home in the US has appreciated at about a rate of 1% per year over the long term. Most people don't realize how poor an investment a personal home is. Shelter yes, an investment, not so much.
Edwin
On housing, it is all about location, location, location. In some areas a person would have a difficult time giving away property. In other places one might get tired of 'investors' knocking on their door every day wanting to buy their home.
Originally Posted by
Gary Ragatz
I'm pretty sure Jim's not old enough to have bought gold at $10/ounce. I'm thinking it's the silver he got at $10.
Originally Posted by
Edwin Santos
Well as has been pointed out from time to time, we do have some old dawgs around here, but I think you're right on this one.
Edwin
Yes, my faux pas not stating it was silver. Even the founding fathers had gold pegged above $10 an ounce.
Some of my silver was pulled from circulation at face value. Shortly after the Hunt brothers tried to corner the silver market one could purchase common silver dollars from many coin dealers for less than $10. Some of the 'regular customers' would come in and purchase a few then make the rounds of some bars, slap one down on the counter and ask, "anyone here buy me a beer and give me $20 for this silver dollar?" Tough job, but someone's gonna do it.
jtk
"A pessimist sees the difficulty in every opportunity; an optimist sees the opportunity in every difficulty."
- Sir Winston Churchill (1874-1965)