Skip to main content
69 votes
Accepted

What does "gold reserves" on a gold mining company's balance sheet mean?

For gold mining companies, the amount of gold that the company has access to but has not yet been mined is accounted for in "reserves". The company can claim a percentage of those reserves as assets, ...
D Stanley's user avatar
  • 138k
41 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

We could adapt and survive living without the internet but if society completely collapses, all the gold in the world isn't going to help you. Food, guns, ammunition, medicine, clothes, water, etc. ...
Bob Baerker's user avatar
  • 76.8k
31 votes
Accepted

Where to sell metals with numismatic value

What do the coins go for on eBay compared to what the coin shop is offering? I wouldn't expect to be able to resell a non-graded, recent coin like this at the retail price the mint offers. The mint ...
Justin Cave's user avatar
  • 27.8k
28 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

You are right, gold bars are not very spendable. That's why coins were invented. Coins are small, standardized bits of metal that are minted by a trustworthy entity to contain precise amounts of a ...
Ben Miller's user avatar
  • 116k
22 votes
Accepted

How should I prepare for the next financial crisis?

How would gold have protected you during the 2007/8 crisis? In no way, shape or form. The ways to protect yourself at any time are: A reasonable debt/salary ratio: In other words, don't over-...
RonJohn's user avatar
  • 50.7k
22 votes

Why do rich put their money in gold

I suspect he claims "the rich" put their money in gold so that you'll sign up for whatever gold service he's pitching on his podcast using his coupon code.
quid's user avatar
  • 49k
16 votes
Accepted

Is the Canadian Gold Maple Leaf actually used as legal tender?

Just because the coins are legal tender does not mean that they are "in circulation" and people are spending them at stores. Yes, the Canadian Gold Maple Leaf is legal tender, as is the American Gold ...
Ben Miller's user avatar
  • 116k
16 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

To actually answer your question... the normal tradable/usable gold bullion bars are "400 ounce" bars. Aka LBMA, mocattas, LGD bar, etc. (Note that as a curiosity, they are not 400 ounces,...
Fattie's user avatar
  • 13.8k
15 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

I have a friend whose grandparents escaped Communism becoming émigrées from Hungary in the 1950s, who told me that gold chains were the preferred form of value at the time. They are easily stored ...
Zac's user avatar
  • 362
11 votes

Is the Canadian Gold Maple Leaf actually used as legal tender?

How could it be that this gold coin was created as legal tender when its gold content is much higher than its face value? There are many coins that have market value far above their face value, ...
Hart CO's user avatar
  • 70.6k
11 votes

Where to sell metals with numismatic value

The best opportunity to sell small amounts of collectible coins is to go to coin shows. Now the gold and silver coins from the U.S. Mint catalog-website are not bullion but are mint-marked coins.
S Spring's user avatar
  • 3,592
11 votes

Can I hold gold as much as I like at home in the US?

The executive order 6102 has been repealed and there's no prohibition on owning and possessing gold in the US. Taxes are paid on income, and gold bullions, coins, and bars are treated as collectibles ...
littleadv's user avatar
  • 178k
8 votes

Is a currency "hedged" ETF actually a more speculative instrument than an unhedged version?

Currency hedge means that you are somewhat protected from movements in currency as your investment is in gold not currency. So this then becomes less speculative and concentrates more on your ...
Victor's user avatar
  • 21k
8 votes

Is gold subject to inflation?

The general argument put forward by gold lovers isn't that you get the same gold per dollar (or dollars per ounce of gold), but that you get the same consumable product per ounce of gold. In other ...
AndyT's user avatar
  • 821
8 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

Gold will be completely worthless in a dystopian future with no internet. It certainly won’t be worth the inflated price of $2000/ounce. If you want to survive, you should spend $50,000 on a generator,...
Keith Knauber's user avatar
8 votes

How to Interpret the Widely Fluctuating Gold-Silver Ratio

Gold-silver ratio is meaningless. Gold and silver are used in industry as components of a lot of electronics and industrial equipment. They're used differently, in different ways, and in different ...
littleadv's user avatar
  • 178k
7 votes

What caused gold to lose a third of its value during the year 2013 to 2014?

Gold is useful, but the total industrial demand for it isn't that big. The primary use is as bullion or high caret jewelry as a store of value. People tend to purchase it when they are uncertain about ...
zeta-band's user avatar
  • 3,997
7 votes

Is gold subject to inflation?

Gold isn't constant in value. If you look at the high price of $800 in January of 1980 and the low of $291 in 2001, you lost a lot of purchasing power, especially since money in 2001 was worth less ...
zeta-band's user avatar
  • 3,997
7 votes

What does "gold reserves" on a gold mining company's balance sheet mean?

Gold reserves refers to gold in the ground that a mining company has an option to retrieve. 68 million ounces is a lot! And yes, a mining company's value is partially dependent on the size of their ...
Kirk Broadhurst's user avatar
7 votes

If I were to store gold for an Internet-less dystopian future, what form should it have? Is this actually done?

What's the use of storing a huge single gold bar when you'd just end up not being able to use it except for some major one-time purchase? The traditional response to social upheaval is to get ...
mjt's user avatar
  • 341
6 votes

Gold coins with face value greater than the metal value — what's the catch?

I came across this €1000 coin, which can actually be bought for €1000. It contains 17 grams of gold, worth about €600 today. Is there any downside to this over keeping €1000 in regular banknotes? ...
Dheer's user avatar
  • 57.1k
6 votes

Investing in precious metals and keeping them safe

Investpedia has a concise list of the ways to invest in gold but doesn't really get a the pros/cons so I'll talk about that a bit. Physical gold is one common method of owning gold (coins, bullion) ...
rhaskett's user avatar
  • 6,608
6 votes

How should I prepare for the next financial crisis?

Those ‘crises’ are only an issue if you need your savings during the time of crisis. If you have time to sit it out, you should just do that, and come out of the crisis with a gain. People that lose ...
Aganju's user avatar
  • 37.7k
6 votes

Why do rich put their money in gold

I can't speak to the accuracy of Kiyosaki's belief that rich put their money in gold but there are a number of reasons that people do so. The most obvious is that people think that it's a timely ...
Bob Baerker's user avatar
  • 76.8k
6 votes
Accepted

Is gold inflation-proof or not?

You can print money, but you can not print gold, right? But we mine gold (thereby increasing the supply), and recycle it. The bottom line is that -- as a commodity -- the price of gold is driven by ...
RonJohn's user avatar
  • 50.7k
6 votes

Why do people prefer to buy gold when stock market moves downward?

There are a lot of market myths spread by the public. Some include: Dividend Capture provides risk free money You should sell options because 90% of them expire worthless Stocks that go up must ...
Bob Baerker's user avatar
  • 76.8k
6 votes

How can a "gold" coin look nothing like gold?

The gold sovereign is a 22 carat rose gold coin, meaning that it is composed of 22/24 parts gold and 2/24 parts copper. The small percentage of copper affects two things; the color of the alloy and ...
Brady Gilg's user avatar
  • 1,077
6 votes
Accepted

Gold - What is GB01/CHF? How does a metal account work?

GB01 means a gold bar with 1g and GB01/CHF means the price in swiss francs, in this case 51.92 CHF per gramm. And to add the important investment advice: if you can't figure out what you are trading, ...
Manziel's user avatar
  • 7,442
5 votes

Is gold subject to inflation?

Gold is a risky and volatile investment. If you want an investment that's inflation-proof, you should buy index-linked government bonds in the currency that you plan to be spending the money in, ...
Mike Scott's user avatar
  • 23.5k
5 votes

How do gold sovereign coins compare to other gold investments? [UK]

Years back I worked at the numismatics dept of a bank here in Switzerland. They traded coins. From my experience in wealth management I would make the following distinctions between gold coins and "...
Marc E.'s user avatar
  • 129

Only top scored, non community-wiki answers of a minimum length are eligible