Item added by hieunh. Added on 01/23/2011
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21 Reviews

CarrollCountyK id
06/12/2013

Gold 3

I had a buddy from the army who cashed in a couple of his gold teeth a couple years ago. He was short of money.

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Votes on this review: 1 Helpful / 2 Funny / 0 Agree / 0 Disagree

twansalem
05/30/2013

Gold 3

If you have a bunch of old gold jewelry sitting around, sure cash it in, it's worth something.

Investing in gold, on the other hand, seems like a marginal idea...

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Votes on this review: 1 Helpful / 0 Funny / 1 Agree / 0 Disagree

Chalky
10/10/2012

Gold 5

Yukon Cornelius was wrong about a lot of things, but this wasn't one of them (silver too).

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Votes on this review: 3 Helpful / 1 Funny / 0 Agree / 0 Disagree

X Factor Z
07/25/2012

Gold 5

It is valuable today, because of hard economic times I guess gold is quite pricy. Just don't seel any to any of those fly by night Cash For Gold operations.

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Votes on this review: 0 Helpful / 0 Funny / 0 Agree / 0 Disagree

ashleys
05/18/2012

Gold 3

Ef Gold! Facebook just went public! A piece of history or misery? Jury's still out. For the times they are a-changin'.

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Votes on this review: 0 Helpful / 1 Funny / 1 Agree / 0 Disagree

Abu Fadl
03/11/2012

Gold 4

good site

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Votes on this review: 0 Helpful / 1 Funny / 0 Agree / 1 Disagree

lordt
03/11/2012

Gold 4

If you bought gold 3 years ago at USD 800 and sold it last September at USD 1900 then you might think it is a really valueable stuff. You are lucky and you made a lot of money.

If you bought gold last September at USD 1900 and sold it last week at USD 1700 then you might think it does not worth the money...

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Votes on this review: 0 Helpful / 0 Funny / 0 Agree / 0 Disagree

Guy D
01/25/2012

Gold 3

...and I was right.

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Votes on this review: 3 Helpful / 2 Funny / 1 Agree / 1 Disagree

CastleBee
01/25/2012

Gold 3

If all those tacky little "We Buy Gold" shops mushrooming around the country are any indication of where gold is going, then I'd say it was at least a hot commodity for someone. Of course, like telemarketing, Chia Pets and other here-today-gone-tomorrow establishments, I get the distinct impression that the old guy dropping off his lounge lizard disco jewelry will not be that “someone”.

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Votes on this review: 4 Helpful / 0 Funny / 1 Agree / 0 Disagree

Dreaming0616
01/16/2012

Gold 3

Meh, it's always had some value, it all really depends on the demand of the stuff. There are other things that are worth more in my opinion.

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Votes on this review: 1 Helpful / 0 Funny / 1 Agree / 0 Disagree

Dreaming0616
01/16/2012

Gold 3

Meh, it's always had some value, it all really depends on the demand of the stuff. There are other things that are worth more in my opinion.

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Votes on this review: 1 Helpful / 0 Funny / 1 Agree / 0 Disagree

numbah16tdhaha
01/15/2012

Gold 3

I still don't buy into the gold craze... you can't fucking eat it and it only has a use if money means something. I'll keep buying ammunition.

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Votes on this review: 2 Helpful / 0 Funny / 2 Agree / 0 Disagree

ryejugcowboy
01/15/2012

Gold 4

I got my stash secured.

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Votes on this review: 1 Helpful / 0 Funny / 0 Agree / 2 Disagree

gabgirl12
11/19/2011

Gold 5

When has it ever not been valuable?

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Votes on this review: 0 Helpful / 0 Funny / 0 Agree / 0 Disagree

FranksWildYear s
10/06/2011

Gold 5



When the global economy collapses and there is rioting in the streets for food, shelter and personal security a reinforced gold balustrade around you and your loved ones will come in VERY handy.

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Votes on this review: 3 Helpful / 3 Funny / 3 Agree / 0 Disagree

abichara
03/20/2011

Gold 3

We have all these gold bugs running around trying to scare people into buying physical gold. Their sales pitch is based on fear, fear of hyperinflation, war and other unforeseen events.

I'm skeptical of gold because it has very little market utility, thus it won't be very useful in a situation where we might have a barter type of economy. Furthermore, it is not a very liquid asset. And of course, the people who are hyping up the gold market many times are financially tied to rising gold prices, thus they have an interest in pumping up its price.

The idea that they promote is that the price of gold will continue to rise as the dollar's reign as the world's reserve currency comes to an end. Most of these predictions are off base due to various factors, among them the depth of the US Treasuries market and the lack of an alternate currency with such resources to fill this demand. The dollar will eventually cease to be the world's reserve currency, but not anytime soon. Anyone who tells you otherwise is fearmongering in an attempt to game you out of your money.

The real game is what the gold dealers do to promote their product and pump up the value of their favorite commodity. These guys make their living by selling gold, not by buying it and holding it as they recommend. This activity is contrary to what one would expect if gold dealers really felt that gold would rise in price. By doing this, they're not only taking advantage of its price volatility, they are also maintaining a very liquid position in gold because they realize that one of these price corrections may very well represent the end of gold's bull market (ongoing since 2002). As such, they trade gold on a short-term basis, while advising the consumer to take a buy and hold strategy. That acts to essentially transfer their risk onto the sucker who's holding the gold long term.

The gold bugs also make the specious argument that gold offers protection against inflation (it's actually protection against deflation in most instances) and the collapse of the dollar, thus you should transfer a good deal of your investment capital and savings to gold. While it is partially true, the connection between the price of gold and a declining dollar is not as clear as some would have you believe. There is a clearer connection between rising oil prices and higher gold prices. This might make it a good buy (especially given the recent turmoil in the Middle East, which is driving up the futures market), but only if you intend to hold it for a short period.

The people they're targeting have lost all faith in America's capital markets and don't want to lose more than they already have. And there are many people on this boat right now. Many people in this position have moved the bulk of their assets into gold and silver, largely as a protective measure.

Needless to say, this is a very dangerous move because gold is not bound to stay at above $1,000 forever. When this bull market ends, it will do so without much warning. You might think that you will be able to unload it before the price goes down, but many will be left stuck holding the bag when it happens.

I don't deny that the US economy is not in good shape, but the overall picture isn't as bad as the gold people and the doom-and-gloomers would have you believe. Understand this about the value of gold: the higher an asset price rises, the higher the risk becomes. This is especially the case with assets that have very little intrinsic value, such as is the case with gold.

Gold's upward price swing has been driven primarily by hype; it has nothing to do with real investment dynamics. It is a classic speculative bubble. This campaign to pump up the value of gold represents a pyramid scheme where gold dealers profit, along with those who bought earlier in the bull market. People buying gold now stand to lose money down the road because they have no exit strategy. If you've already invested in gold, the most important question you should be asking yourself is not how much the price of gold will rise, but rather when to exit the investment, because when its price goes down, it will likely stay low for several years.

What the gold dealers are trying to do is create a self-fulfilling prophesy. Because there's no way to value gold using traditional valuation methods, the price is determined by perceived value, which itself is based on the expectation of price appreciation. What they do is say that gold will reach very high levels, perhaps $5000 an ounce while preaching hyperinflation myths. The price might reach $5000, but only if you the consumer makes it happen. That's not investing. That's speculation, because the price levels are simply not sustainable or based on valid economic assumptions.

The gold sellers are really involved in a pump and dump scam, similar to what we see in Wall Street everyday. You're probably familiar with how this works; it's been around for a very long time. It was very common, especially during the dot-com era. A wave of propaganda is pumped out to unsophisticated investors who believe the hype and exaggerations by stock promoters. While the worthless stocks sometimes rise substantially in price, the party usually ends without warning, leaving people left holding a bad of empty goods. One characteristic common among all these scams is that the promoters never talk about the downside risk.

In short, buyer beware...Understand fully what you're buying into and if you do invest in it, have a clear exit strategy.

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Votes on this review: 4 Helpful / 0 Funny / 3 Agree / 0 Disagree

Littledragon
03/19/2011

Gold 5

Even if the Dollar, Euro, Yuan, etc get devalued so much that their primary remaining function would be to serve as toilet paper, gold will still be worth its weight as a form of barter, and if you had enough, you'd run barter town.

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LillyScott
03/02/2011

Gold 5

gold has actually become very valuable and has continued to rise over time. silver has even began a climb back up after hitting rock bottom. if you plan on scrapping any gold for money shop around for a legit and also honest buyer. the last thing you want to do is mail it to one of those places that advertise on tv but i think the majority of people are smart enough not to do this.

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Votes on this review: 0 Helpful / 0 Funny / 1 Agree / 0 Disagree

Molfan
02/21/2011

Gold 4

i own very little gold would not be worth that much. could not afford to buy gold and hold to it. from what i hear it can be worth quite a bit. guess someone would have to be careful where they would take it for making good money.

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Votes on this review: 3 Helpful / 0 Funny / 1 Agree / 0 Disagree

irishgit
02/13/2011

Gold 4

I'm taking off a star because the gold wedding rings from my two marriages weren't worth a shit.

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Votes on this review: 1 Helpful / 6 Funny / 0 Agree / 2 Disagree

Firemoth
02/13/2011

Gold 1

You don't want to hang onto that metal stuff that came out of the dirty ground. In fact, email me and I'll take do you a favor and take whatever you have off your hands at no charge to you.

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Votes on this review: 1 Helpful / 2 Funny / 0 Agree / 0 Disagree

hieunh
01/23/2011

Gold 5

You collected Gold, and its value rising overtime.

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Votes on this review: 0 Helpful / 0 Funny / 0 Agree / 0 Disagree

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3.86
average based on 22 ratings