…… Should I buy gold?
- Thread starter Dennis Olson
- Start date
No. Look at the price action just today. Look at what you would buy if you "had" to sell that gold. If and it is a big if, they happen to come close to the 3.5 trillion bill then you might consider the PMs. That will signal lasting wage inflation. Depending on how it is funded(or not) it could also signal lasting commodity inflation.
Walrus Whisperer
Hope in chains...
I would buy silver. More bang for the buck AND if caught in a tough situation, your whole stash isn't gone in one fell swoop. I did hear there were some credit card sized flake gold things. They were stamped so one could pay with one of the tiny pieces, one broke it off of the whole orig item. I would imagine those gold piece things have a very high premium.
And don't get junk silver, get nice looking silver dollars, lots of them out there.
And don't get junk silver, get nice looking silver dollars, lots of them out there.
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A couple of pawnbrokers I know will sell 14k plain gold wedding bands out of their scrap buckets by weight for what their brokers are paying for it. So, slip one on a finger, go to the closest We Buy Gold place, and just be one more person down on their luck and not a fat cat worth following home and robbing .....
Greybeard7
Veteran Member
FWIW, the conventional wisdom I have heard is to have between 10-15% of your portfolio in precious metals.
If $1,800 is two thirds of your "ready cash" then I would guess that your "ready cash" is about $2,700.
If this is not your emergency fund but your "portfolio", then 12% would be $324.00. Peace silver dollars have the same amount of silver as Morgan silver dollars and have a smaller premium to purchase.
That would buy you 10 Peace silver dollars at the APMEX precious metals site.
Buy 1922-1935 Peace Silver Dollar VG-XF (Random Year) | APMEX
Only you can decide how you want to invest your money. There are definite pros and cons to having precious metals. One of the pros is you can actually have it in hand and control it. Ten silver dollars easily fits in a pocket so transporting it is no problem. One of the cons is how do you convert it into whatever fiat is currently in use or other goods or services. For this you have to find someone to trade with who recognizes its value.
If 12% of my portfolio were $324.00 I would probably be looking more at current supply chain issues and what I goods I expect inflation to impact the most.
Good luck with your decision.
GB7
If $1,800 is two thirds of your "ready cash" then I would guess that your "ready cash" is about $2,700.
If this is not your emergency fund but your "portfolio", then 12% would be $324.00. Peace silver dollars have the same amount of silver as Morgan silver dollars and have a smaller premium to purchase.
That would buy you 10 Peace silver dollars at the APMEX precious metals site.
Buy 1922-1935 Peace Silver Dollar VG-XF (Random Year) | APMEX
Only you can decide how you want to invest your money. There are definite pros and cons to having precious metals. One of the pros is you can actually have it in hand and control it. Ten silver dollars easily fits in a pocket so transporting it is no problem. One of the cons is how do you convert it into whatever fiat is currently in use or other goods or services. For this you have to find someone to trade with who recognizes its value.
If 12% of my portfolio were $324.00 I would probably be looking more at current supply chain issues and what I goods I expect inflation to impact the most.
Good luck with your decision.
GB7
SmithJ
Veteran Member
This is the best answer on this thread
I was referring to my personal budget, not a national SHTF situation.
For every person who knows their value and has taken them as a hedge, there are 10,000 who see them as just a quarter. Your statement doesn’t take those people into account.
So, an emergency fund of $25,000 FRNs, which in six months is worth $20,000 FRNs, and six months after that is worth $15,000 FRNs. Seems like a dog chasing its tail to me. Now if a person wanted to buy something tangible for $x, that as the value of FRNs diminished, over time would, in effect, gain value, that would be the way to go. Even if one took out a loan for something (for example), they'd be paying that loan off with “cheaper” money.
Strictly SHTF emergency. And like any prep item, one cannot necessarily know in advance what use it might be put to.
Correct. “Significantly” is the operative term here. 10% is not significant. 25% or more would be. I don’t think any rational person thinks gold will drop significantly as the economy crumbles.
My source is affiliated with JM Bullion. They can get anything I’d want. At least I think so.
day late
money? whats that?
OR you can apply the pressure test which tungsten will fail and gold will pass. Remember that barkeep biting the coin I spoke about?
Loretta Van Riet
Trying to hang out with the cool kids.
Just an old lady with her 0.02
Keep more cash, purchase some freeze-dried dog food, buy 20 Silver eagles, and a few 1/10 oz Gold Canadian Maple leafs.
Keep more cash, purchase some freeze-dried dog food, buy 20 Silver eagles, and a few 1/10 oz Gold Canadian Maple leafs.
1/10 ounce Gold Eagles as well as some 1/4 ounce Eagles come with a hefty premium.
The 1/10 ounce are about the size of a dime and the 1/4 ou Eagles are about the same size as a nickel. Many years ago I was buying 1/4 ounces when I had the money and when prices dipped. I would not buy 1/10 again. I would buy junk silver coins instead of 1/10 ounce Gold Eagles. Way back when I would buy unopened "Bank Rolls" of silver dimes and quarters of eBay.
BUY?... no no no. We are looking toward use for barter.
I agree a tube of Silver Eagles is the very best ways to start.
Here's a great deal. $1755.00 at this time for 1 Oz GAE. They'll try to get you to buy numi's, just tell them no. They'll call in the future, just don't answer the phone. You can use a credit card with no premium & get buyers points if your card has them. I've used their promo's before, no problems.
Not affiliated in any way with this company.
Government Issued 1 oz $50 Gold American Eagles. LOW PRICE GUARANTEE - Nationwide Coin & Bullion Reserve (nationwidecoins.com)
Not affiliated in any way with this company.
Government Issued 1 oz $50 Gold American Eagles. LOW PRICE GUARANTEE - Nationwide Coin & Bullion Reserve (nationwidecoins.com)
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Really, you'd try to bite a coin to see if it's real? You've got better teeth than me.
The only way a person gets a "cash reserve" is to save a cash reserve. For most of us, it doesn't appear by magic but over the long haul.Likewise, I'm sure.
So you're sayin he DOES have a sizeable cash reserve? Because if so, that changes the entire complexion of this thread.
Sicario
The Executor
I’ll make your fakes out of lead then.
Who knows, supposed good job report, chin's big company going BK. dollar rise. ????
Someone dumping a bunch for liquidity?
Ku Commando
Inactive
It's a matter of supply/demand & the fear factor
15 years ago, when gold was around 850, you could buy fractional gold [ 1/10ths ] for $92-95.....around a 8-9% premium. So nowadays, you've run into 40+%.....sign of the times
Buy it with what -- trade it back into FRN's ?? Who's to say those FRN's will be anything worth using ?
Us old folks tend to think along the lines of practicality.....either because that's how mummy raised us, or we figured it out on our own as the years went by.......and much to our detriment, we tend to run a comparison with The Great Depression.
PRACTICALITY dictates that you buy gold as a store of value to be used when you come out on the "other side" to restore your life.....and silver rounds or junk silver could be used in the interim as a means of trade for goods/services.
But that was then.....and this is now.....where the whole apple cart is about to be upended.
A sentence or two, divinely inspired millennia ago speaks to "precious metals" being cast into the streets because it wouldn't deliver us from the horrors occurring at that future date.....we wouldn't have peace of mind to have that stack of metal, nor would it fill our tummy.......it's actually called our STUMBLINGBLOCK.......like fractional Golden Calf's.
Moreover, none other than our Savior instructs us in that all important rules for clean living given in the Sermon on the Mount.......to NOT store up treasures on earth where we have to guard them from whatever, but to store up our treasures in Heaven -- "For where your treasure is, there will your heart be also."
So Denny......certainly you can put some of your spare funds to good use around Austin directly helping people....and nobody has to be any the wiser except Father.
day late
money? whats that?
Evidently one can tell real gold and silver by the distinctive sound it makes when you drop it on to a hard surface.
Voortrekker
Veteran Member
Gold is real money. If I had the money I would have bought more than one one ounce gold coins/bullion .999 fine gold. An ounce of gold is 412 grains Troy ounces and 37.5 grains is one dollar of gold.
A gold one ounce coin will buy a Daniel Defense or down payment on a Ford Raptor, etc.
When the Federal Reserve goes under, those FRN notes will be more worthless than a "Continental."
A gold one ounce coin will buy a Daniel Defense or down payment on a Ford Raptor, etc.
When the Federal Reserve goes under, those FRN notes will be more worthless than a "Continental."
CaryC
Has No Life - Lives on TB
This may have already been addresses so you will hear it a second time, I haven't read the whole thread.
Usually 1800.00 for a one oz. does not translate into 10 1/10th. It would actually cost more. You're thinking a 1/10 would cost 180.00 I have not priced them lately, but they would run about 200.00-240.00 each.
However you could break the 1800.00 into some gold, like 2-3 tenth's and then use the remaining 1800.00 for all silver.
While Junk Silver breaks the coinage, and thus value down even further, IF Dennis gets into a bind and has to sell some, then he won't make as much off of it either.
In a Shumer a silver dime, might get you a pack of smokes, in a non-Shumer it might get you, 0.12.
I too would not recommend putting ALL-2/3 of your reserves into gold. Cash is still good and usable, BUT I would recommend taking some and buying 1 oz silver, runs about 23.00. And in a non world wide shumer, just yours, you can dispose of them easily. Even at pawn shops, which will give you whole sale, but a quick sale.
Just thoughts.
ohiohippie
Veteran Member
Silver is very pretty.
I like pretty even when I just dream about it!
Of course canned goods look pretty also.
I can reach out and touch those!
I like pretty even when I just dream about it!
Of course canned goods look pretty also.
I can reach out and touch those!
Yes, especially bigger diameter coins.
A Silver half dollar and a Current minting half dollar sound completely different when dropped from 5-6 inches onto a hard surface.
Cheapest Rolls of SAE's I've seen are $600.00 per. $7.00+ premium. Too high for this guy.
Ag spot: $22.80 Oz.
DazedandConfused
Veteran Member
If you are comfortable with your cash holdings in hand not in the bank. I would invest in Gold as much as you can afford.
Cash is still king but in todays political environment on the world wide stage that could change over night.
Gold is recognized as money around the world and will so till the Lord returns.
Stick with whole 1oz coin or bars and only buy from trusted sources there is a LOT of fake stuff out there .
Cash is still king but in todays political environment on the world wide stage that could change over night.
Gold is recognized as money around the world and will so till the Lord returns.
Stick with whole 1oz coin or bars and only buy from trusted sources there is a LOT of fake stuff out there .
ohiohippie
Veteran Member
Dennis if you have $1200, and no PM's "I" would buy a single 20 coin tube of Silver Eagles and put the cash back in savings.
Silver Eagles are recognized by many these day because of widespread advertising that really picked up a couple years ago.
Silver Eagles are easier to acquire due to their smaller unit value/cost.
You still get some PM's and you still keep most of the cash, it will have value for a short period of time if things crash simply because people will still have it. I'm guess this will last for a period of 4-6 weeks after the initial crash, then people will start to figure out alternatives.
Silver Eagles are recognized by many these day because of widespread advertising that really picked up a couple years ago.
Silver Eagles are easier to acquire due to their smaller unit value/cost.
You still get some PM's and you still keep most of the cash, it will have value for a short period of time if things crash simply because people will still have it. I'm guess this will last for a period of 4-6 weeks after the initial crash, then people will start to figure out alternatives.
Yea but we're talking about someone else. I might not give you that advice, but I would a beginner.
If a beginner he/she should check out silver rounds or bars from reputable dealers, they can get a bunch more metal with $2-$3 premiums versus $7-$10 premiums. JMHO.
To-late
Membership Revoked
They won’t buy it back at the same price you paid for it. Even if gold goes up, it’s just paper gold.
I tried gold coins once. Numismatic coins.
even though gold went up the buyers wouldn’t pay the value.
remember it’s the professional buyers and sellers that make the money. Not the little guy.
Friends don't let friends buy numismatic coins. Big scams on them.
Stay away from Numi's.
cyberiot
Rimtas žmogus
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”
― Norm Franz, Money & Wealth in the New Millennium: A Prophetic Guide to the New World Economic Order
* * * * * * * * * *
If I were in your position, I would first free myself from slavery. So Priority One is to get out of debt.
Priority Two is to become as self-sufficient as possible. A paid-up single-wide on a patch of land you own run off a solar generator with a well is better than a mansion on mortgaged dirt powered and watered by vulnerable systems outside your control.
Priority Three, then, becomes enabling yourself to trade with others after all the phony stuff (e.g., fiat currency) goes away. Money is what your local group decides is money--seashells, eggs, silver, etc.--and is worth what the group decides it is worth. So invest in "money" that is widely recognized, easy to verify, and available in denominations appropriate to the transactions you expect to face. Silver eagles, silver dollars and, to a lesser degree, junk silver, fill those bills for most of us.
Gold may be appropriate as a store of value for your descendants, or as currency for high-value purchases such as homes, land, vehicles, and livestock. But unless you're planning to be the king Franz spoke of, it won't have much other practical utility.
― Norm Franz, Money & Wealth in the New Millennium: A Prophetic Guide to the New World Economic Order
* * * * * * * * * *
If I were in your position, I would first free myself from slavery. So Priority One is to get out of debt.
Priority Two is to become as self-sufficient as possible. A paid-up single-wide on a patch of land you own run off a solar generator with a well is better than a mansion on mortgaged dirt powered and watered by vulnerable systems outside your control.
Priority Three, then, becomes enabling yourself to trade with others after all the phony stuff (e.g., fiat currency) goes away. Money is what your local group decides is money--seashells, eggs, silver, etc.--and is worth what the group decides it is worth. So invest in "money" that is widely recognized, easy to verify, and available in denominations appropriate to the transactions you expect to face. Silver eagles, silver dollars and, to a lesser degree, junk silver, fill those bills for most of us.
Gold may be appropriate as a store of value for your descendants, or as currency for high-value purchases such as homes, land, vehicles, and livestock. But unless you're planning to be the king Franz spoke of, it won't have much other practical utility.
West
Senior
Right, why I will ping circulating gold. Put small dent in it. It's really closer to the truth of what our ancestors did. Have seen small dents in circulating PM coins.
I bought my first PM's when is was in my late teens in the early 1970's. I sold it months later at a small profit and bought a set of sterling silver tableware, I wanted something more practical(?) From there I was off and running. I've made plenty of mistakes, mostly because I forgot what my goals were AND what was in demand and why it was in demand.
ETA: I just realized that was the only time I've sold PM's
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Cyberiot, in an ideal world what you say is correct. However, in our current state of affairs, it’s the TIME FACTOR that scares me. I’m $3500 from being completely debt-free. However, your second priority might well take longer than we have before the fall. I don’t want to be stuck with no PMs and no safe haven either, when it all goes down.