Ready to cash out my savings bonds

[sparechange?]

Hey guys! Long time no see.

I'll get right into it: I have around $800 in savings bonds and I'm wanting to cash them out and invest in gold (tangible).

Any thoughts?

 

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[Dutchy]

Is that $800? Won´t buy you much gold I´m afraid!

 

[sparechange?]

I agree. I could invest an even $1000. The point is that my savings bonds aren't gaining much interest at all, and gold it probably a better investment; even if it's just 1k.

BTW, that is the amount with interest adjusted, not face value.

 

[IceCreamKid]

I'm afraid gold is currently $1,560 at the moment. You could always buy silver if you'd like though since it's at $48. I view both as wealth preservers rather than wealth builders.

 

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[andrewsemi]

I agree with most people that responded. $800 dollars is not enough to invest in gold. you will have less than .5 oz.

It is a great preserver. I was thinking about this before and although I am already saving 10% of my income. I will continue doing that but instead of stashing the cash under the mattress, I will invest in gold. If the economy crashes and US dollar is worthless I will still have gold. As the saying goes "hope for the best, Prepare for the worst"

 

[sparechange?]

Thanks, I'll look into this. I didn't think of silver.

 

[ZCP]

What is the saying about if the delivery man is talking about buying, it is time to be selling?

$1k would get a good head start on an online company.....then you could start creating your own gold......

 

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[MJ DeMarco]

What is the saying about if the delivery man is talking about buying, it is time to be selling?

Ha Ha ... I just bought put options on Silver. (Which is a bet the price starts going down) ... of course, this is just a short-term view ... overall, I view any hard asset a good investment as the dollar continues its plunge to worthlessness.

In response to the OP, I'd keep the money and invest in a Fastlane business unless you figure out the trading algorithm of the century which will turn $800 into $8 million.

 

[AHoskins]

Funny. After reading this I catch an article about Silver prices slipping. PRECIOUS-Silver slips 10 pct, gold off record | Metals & Mining | Reuters

 

[CEBenz]

Ha Ha ... I just bought put options on Silver. (Which is a bet the price starts going down) ... of course, this is just a short-term view ... overall, I view any hard asset a good investment as the dollar continues its plunge to worthlessness.

In response to the OP, I'd keep the money and invest in a Fastlane business unless you figure out the trading algorithm of the century which will turn $800 into $8 million.

Lol that's great MJ, I've been kicking that idea around for a few days. How far out did you go? I was thinking 6months or so personally.

 

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[sparechange?]

Ohh I got it.

I will buy MJ's book, then invest the rest in silver until I figure out what to do with it.


ADD sidenote: My SCUBA instructor found a silver bullion (the big bar of silver) while diving where in my city (in the Gulf of Mexico).

Maybe I should ask exactly where he found it :smxF:

 

[Kfleming]

My SCUBA instructor found a silver bullion (the big bar of silver) while diving where in my city (in the Gulf of Mexico).

Maybe I should ask exactly where he found it :smxF:

Probably in the Keys.. Mel Fisher found $400 million in treasure off of there back in the 1980s. If you visit they have a whole museum and shops where you can buy some of the actual pieces they found - Mel Fisher Maritime Heritage Society