Buying gold question

[firehawk1]

Back in '07 I moved some money around in my retiremant account. I put $2000 into stocks, a stock to be exact. I recently received a statement and see this stock has more than doubled.

Question I have is this, I am considering taking the profit and converting it into gold. I personally feel it would be a better choice to convert it in to actual gold (as in my hand) as opposed to gold certificates, etc... Is that even possible seeing the money is in a tax defered account?

Opinions on this, advice?

 

[snorko]

I can not speak to your circumstances. However, there are companies which sell "IRA Approved" gold and silver. I think the company holds the physical metal.

example: Buy Precious Metals IRA Products | APMEX.com

 

[451_Detonics]

Silver is actually a better investment but personally I think you are too late to use buying gold as an investment...I think the peak is about here. If you had done this a few years ago you would be....ummmm...golden.

 

[firehawk1]

Silver is actually a better investment but personally I think you are too late to use buying gold as an investment...I think the peak is about here. If you had done this a few years ago you would be....ummmm...golden.

I guess I should have said precious metals instead of just gold. I'm looking at this from more of a viewpoint as a hedge against the Dollar becoming worthless, not so much as an investment. Question then is I suppose IF the economy did collapse, and the Dollar does in fact become worthless HOW would you get the actual precious metal in your hands? Even if I went the route the snorko suggested.

 

[451_Detonics]

In the scenario you are describing I think 22 rimfire ammo will be a very viable medium of exchange. I have been buying pre-64 coins for years and have a pretty decent supply on hand, you can do that as well. Now I am buying common ammo like 22 rimfire. Put an ad in your local paper offering to buy pre-64 coins at 10% below spot for silver content...that is a better deal than any place with the big signs will give. Just remember you are actually going to pay 20% below spot as the coins are only 90% silver.

 

[Flintlock]

You've missed the train if you are hoping to make big returns in metals. Real estate is where the money making is at now.