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Try Buying Gold in the Real World - Mike Swanson (05/08/2014)
We got a little pullback in gold yesterday. I got a couple of emails from people scared about that daily drop. One person asked me if the HUI goes through 220 should we all sell?
Well I thought to myself this is a good day to buy more!
So I tried to buy physical gold in person and had a very tough time of it.
I have bought gold and some palladium on the internet, but I had never bought in person from a gold dealer before.
I don't like to carry around much money. I actually don't like paper money at all, because it doesn't do anything.
Saving money is useless. I got a drawer full of German marks that say they are worth billions on it, but they are worth nothing.
One has a picture of that jackass Adolf Hitler on it.
My grandfather was in WWII and invaded Germany with Patton's army.
It was him and two other guys working together as forward observers for artillery.
In a lull in fighting they were in some city square and went into an abandoned bank and took some Hitler money.
That's hyperinflation and when governments go nuts their money goes to zero.
I also got some Confederate money in a drawer in my house. The bills are in perfect shape and you'd think they would be collector items, but they are worthless.
The Confederacy was a vile government and they hyper-inflated their currency during their war game too.
Their are still rednecks in the south who think the Confederacy was protecting "rights," but if you actually look at the history Confederate government it treated its citizens like crap was a hellhole.
Paper money is good for one thing - spending.
Think about it if you got a stack of newspapers and a stack of dollars sitting on your counter they both are doing the same thing - NOTHING.
And in time they will lose value.
That's why so few people save money. They just spend it on stuff - usually useless crap.
I like to use it though to buy things that will go up in value and build real wealth.
You don't need to waste money on junk.
Money turned into real estate is neat.
Money turned into the right stocks is exciting.
And money turned into gold that is then stored in a safe place is a safe haven.
Right now investing in gold makes all the sense in the world to me.
So I decided I would take a drive down the road to Greensboro NC and buy some gold bullion.
I took a few thousand dollars and put a gun on the passenger seat.
These are crazy times.
I went to three gold dealers and not a single one of them had any gold bullion bars.
They mostly sold collectible coins.
They told me that whenever someone comes in and sells them bullion that it just sells out within a day or two so they cannot keep any in inventory.
I told these guys I invest in mining stocks and wanted to now invest in physical gold too, because I thought a bull market was coming.
They had no reaction to that at all. They didn't seem to care whether the market goes up or down. Their world was really collectible coins and catering to collectors.
It was a fascinating contrast to the internet gold bugs world - where everyone is scared to death whenever gold goes down on any given day. It's basing up and down going sideways and when it and the gold stocks break to the upside both will start a bull market that will take everyone by surprise.
Over the past two months though it hasn't done anything but go up and down in a range. But those down days terrify stock market players in gold, because they all have been trained by the bear market cycle of 2011-2013 to fear another collapse.
So I communicate via email with people scared to death every morning.
So that's a big contrast with going to a gold dealer store and not being able to get any bullion at all and talking to people who seem to be oblivious to the gold market trends.
Silver is tough to find too apparently.
One store I went to had a single one ounce silver bar for sale. The other guy had twenty. So I bought them.
Silver is good to own too.
So from my experience it's hard to hop in your car and buy gold. You can get it on the internet though from gold dealers like Regal Assets, Kitco, and etc.
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