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Book: The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold :: Book
Date: Thursday, 08 January, 2009 :: 17:52
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The ABCs of Gold Investing: How to Protect and Build Your Wealth with Gold
List Price: USD $14.95
from USD $7.50
Product Group: book
Manufacturer: Addicus Books
Studio: Addicus Books
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Editorial Review: Product Description
Beginning investors will find thorough guidelines for making good decisions in this guide to private gold ownership. Emphasis is placed on the asset-preservation qualities of gold at a time when investor uncertainty about the economy and recent investment scandals have led many to seek asset diversification. The economic and political trends driving gold marketing are detailed, as are the reasons why gold plays an important role in millions of investment portfolios worldwide?as both a hedge and an investment for capital gain. Topics examined include understanding gold's role in combating inflation and deflation, how to select a gold firm, the history of gold since 1971, storing gold, and government debt.
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Reviews:
Average Customer Review: 
1 of 1 people found the following review helpful:
Summary: Gold
Date: 2008-05-19 -
Comment: This book seems to be right on. It isn't real detailed but gives some good solid basics.
3 of 3 people found the following review helpful:
Summary: Terrific starter book!
Date: 2008-03-23 -
Comment: Terrific starter book! Lots of nice information that's not found on any of the commercial investing sites. This book will not contribute much to my wealth, and it does not pretend to give us investing advice. It's a fun read, absolutely worth the price, and anyone holding gold (or thinking about it) should read this. I intend to read it over again. Soon.
3 of 3 people found the following review helpful:
Summary: gold for the regular person
Date: 2008-02-24 - 
Comment: I have been a "goldbug" for about 5 years now. I was looking for a book to give my many friends who are becoming new converts to Gold. This is a fine place to start for the novice investor. I recommend this to anyone who may wish to protect assets or add gold to their investments.
25 of 26 people found the following review helpful:
Summary: A very honest book for the gold investor
Date: 2008-02-03 -
Comment: First, it should be noted that the author sells gold and has a Web site from which he carries out his business. Having said that, this book in no way is a promotion for his business. But, of course, he has a vested interest in promoting the sale and ownership of gold.
The book covers just about everything you would want to know if considering owning gold coins or bullion. There's a lot more to buying gold than one might think.
But when compared to buying say an ETF, it seems to me to be superior. Why? Because you pay 28% when you sell your gold ETF after one year or your marginal tax rate if you sell it before the end of one year. Thus, you could wipe out any and all gains. In addition, you pay a small fee to the ETF. (Please check with a tax professional about this. I'm not one.)
I've not really found any answers about coins and the tax situation. This book does say they are taxed when sold. But, at the same time, many of them are actual currency with a face value. And, if used as money, how could they be taxed?
The author discusses pre-1933 coins and their advantage but also other gold coins, which sell at less premium. Dealers like to sell you pre-1933 coins because they make more money from them. They claim (with some possible, but questionable, justification) that gold newer than 1933 could be confiscated by the U.S. government if they chose to do so.
The author goes on to say how awful it was for our grandparents or great grandparents who had to wait in lines to return their precious coins to the bank in return for worthless paper.
Well, the truth is, only a tiny portion of the bright U.S. population did that. Most kept their gold coins with no government reaction. So one must question the wisdom of paying a high premium for pre-1933 coins. In fact, an investor is wise not to buy them. (See my comments below.)
Salesmen (they like to be called gold brokers) will tell you that pre-1933 gold coins can not be confiscated --- but that's not necessarily true. Like eminent domain, if the government wishes to take something, it usually will. And the laws of 1933 are not necessarily law today.
But the salesmen, and this book, press for you to buy them. You'll pay a big commission for less than 1oz of gold and when you sell, you'll get far less than you would had you bought a simple 1oz gold Eagle. Now, if you're a collector and not an investor, the situation is different and I'll leave that discussion to someone more qualified.
The author also mentions in one line that the 100 dollar bill may have value when the dollar bill doesn't. But he says it in about four words and doesn't bother to explain it. I was left wondering what he meant.
One thing I'd like to make you aware of. This book, like many others written by people vested in selling gold, is a promoter of pre-1933 gold coins. While these are nice coins and have a place as a collectible, if in fact you're a collector and not investor, these are "bad" investments.
I say that from experience. When I went to sell one I was offered less than what I was offered for a simple gold bullion coin (the Gold Eagle). You pay a premium but you do not get paid a premium. Thus, a bad investment.
All told, this is a good book and I highly recommend it to you. But don't buy into absolutely everything the author tells you. Remember, he is in the business of selling gold.
8 of 8 people found the following review helpful:
Summary: A "MUST HAVE" if you are a Beginning Gold Investor
Date: 2008-01-09 -
Comment: I cannot recommend this book enough if you are planning on investing in gold. It is perfect for a Beginner. This book is well written, organized with a wealth of information, and very easy to read.
Mr Kosares, who has over 30 years experience in investing gold, gives very good reasons why you may want to invest 10-30% of your portfolio in gold, what form of gold to buy, what to look for as you find a gold firm to purchase from, how to try and prevent the US government from confiscating gold from you as FDR did in 1933, objectively compares gold vs. silver investment, what has to be reported to the IRS, how gold is a winner during inflationary and deflationary times, etc etc.
There is a lot to know about gold investment, and this book is a very good road map to investing in gold successfully. I highly recommend this book.
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