Tuesday, January 27, 2015

Take Out Your Tinfoil Hats!

I know a lot of people think I'm borderline mad some days, but the truth is, I probably am.

Just like AK, I was reading the news about Suisse International and their gold scam. Please be careful when buying precious metals! I think the main appeal of precious metals is the complete absence of counterparty risks. Why would you want to leave it with somebody else?

There are plenty of reasons to own some precious metals in your portfolio, but I'm not gonna preach it. Either you believe it, or you don't. Nothing I say is gonna convince you. And it shouldn't. Because you should still go out and do your own due diligence anyway. Welcome to the internet, folks.

Anyway, coincidentally I went to collect a whole bunch of RCM 10oz bars that I had ordered a while ago.


Beauties, aren't they? 

Unfortunately, I have some minor gripes about my purchase. One bar had a scratch that cut through the plastic, one bar had a black spot and one bar must have had lots of pressure applied on it because it's edges were all dented.

However, at the end of the day, bullion is bullion. I got pretty bullion, but all I'm doing is buying for the metal content, not if there's scratches on the sides or not. I guess the best way to view them are like $50 bills. They are nice if in mint condition, but in reality, unless horribly disfigured, they are all worth just as much.

Anyway, this is likely going to be my last purchase for a while. Money is getting tighter these days, especially when I go around buying barbaric relics.

What was I thinking? I must be crazy.

 

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