Moneymoney

Mon Dec 31, 2018, 09:44 AM

This day in history

U.S. Ban on Private Possession of Gold Lifted

December 31, 1974

The 41-year-old ban had allowed only industrial and numismatic purchases.

8 replies, 224 views

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Arrow 8 replies Author Time Post
Reply This day in history (Original post)
oflguy Dec 2018 OP
freedumb2003 Dec 2018 #1
fools_gold Dec 2018 #2
oflguy Dec 2018 #3
fools_gold Dec 2018 #4
oflguy Dec 2018 #5
Badsamm Jan 2019 #6
FreeWheelBurning Jan 2019 #7
oflguy Jan 2019 #8

Response to oflguy (Original post)

Mon Dec 31, 2018, 10:49 AM

1. More important events

 

1/31/2017: This was the last day of 2017
1/31/2016: This was the last day of 2016
...
1/31/1: This was the last day of Year 1 (which means 1/1/2001 was the 1st day of the 21st century BTW - not 1/1/2000)

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Response to oflguy (Original post)

Mon Dec 31, 2018, 10:52 AM

2. I remember that time

I bought my first batch of 10 Krugerrands shortly thereafter at some ridiculously low (it seems now) price.

I've acquired a few more over the years, along with Maple Leafs, Eagles, and Pandas. Always good to have a few coins stashed away for an emergency.

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Response to fools_gold (Reply #2)

Mon Dec 31, 2018, 10:57 AM

3. Investment in gold was iffy at first

People wanted to hold back to see how the market would go.

Your investment was a good choice.

Right now silver is the metal to buy as an investment. Why? It is used universally in computers and solar panels and the price is relatively low.

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Response to oflguy (Reply #3)

Mon Dec 31, 2018, 11:25 AM

4. Yep. On that day in 1974 ...

I was on a plane from Taipei, Taiwan to Bangkok, Thailand for what was supposed to be a ten day mission. (It lasted almost 6 months.) While running around in Thailand and nearby countries I bought a bunch 24 karat gold chains and bracelets (it went by "baht-weight" in country) and brought that back home also. My wife still has some of it in her jewelry box.

Looking back on those 3+ years I spent in Asia is amazing. I did a lot of crazy stuff and managed to survive. I was in a job where I mostly worked alone or in a small team and didn't wear a uniform, so we got into some weird situations. But it sure was interesting.

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Response to fools_gold (Reply #4)

Mon Dec 31, 2018, 11:33 AM

5. What they don't know won't hurt them



I worked with a guy who was in Vietnam during the war. He told me (and I had no reason to believe he was lying) that he went on a mission in North Vietnam with his unit and a suitcase full of money. When they arrived at their destination, they were told to look up a certain North Vietnamese general. They would either have to kill him or give him the money. He said they gave him the money.

Weird story.

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Response to oflguy (Original post)

Fri Jan 4, 2019, 11:35 PM

6. They will never see mine

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Response to oflguy (Original post)

Mon Jan 7, 2019, 03:14 PM

7. I never knew there was a time you could not own gold.

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Response to FreeWheelBurning (Reply #7)

Mon Jan 7, 2019, 07:51 PM

8. Oh yes

It is another example of your tax dollars at work to save you

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Moneymoney