I have 10 1 oz SEs, one Morgan, and one 5 oz silver commemorative thing from 2020 with a bat on the reverse.
…… Should I buy gold?
- Thread starter Dennis Olson
- Start date
TKO
Veteran Member
Unless you think SHTF happens before you are dead, buy some gold...but I'd not take all my stash and splurge on gold. Between markups on gold, and other fees, I think it's a sorry investment even in SHTF mode. If you have 40 years to hang around this life it might go up some more. You just never know with gold. If you miss out on 200 dollars of gold increase you aren't missing anything. 1800 could buy you a good dividend paying stock. Do a year of dividends and you are already up higher than you would be buying gold and waiting on it.
Get yourself one of those airtight coin holders (a buck or two) for the Morgan. The Morgan deserves to be on display if it's clean "AU" rated. I recently gave my niece a Silver Eagle and a nice Morgan in plastic holders. Money from decades past and present.
The biggest driver in the price of Gold and silver is the expectation of future inflation or the lack of. You do have a upward trend in nat. gas and oil. Which are biggies but you had a double top in the crb and a lack of people who really want to work. First time claims are up today. More and more it looks "transitory".
CRB Index Futures Daily Commodity Futures Price Chart : ICE Futures (tradingcharts.com)
IMHO
Always, always, always have at least $1k ready cash emergency fund.
That being said if you had $6-7k plus in cash then a 1 oz gold eagle at $1.8k might be good idea. Maybe consider $500-$800 in silver and buying in 100-150 increments over 3 weeks.
I would tell anyone buying gold or silver today you are buying an insurance policy and hoping for an investment growth kicker. The fed and admin is willing to create an unbelievable amount of make believe frn to attempt to try to keep the whole shebang going.
The currency is becoming worthless and that bodes well for pm’s, the economy is rolling over and getting a future series of hits including fascist Wuhan restrictions and higher taxes this bodes ill for pm’s.
Good luck.
Always, always, always have at least $1k ready cash emergency fund.
That being said if you had $6-7k plus in cash then a 1 oz gold eagle at $1.8k might be good idea. Maybe consider $500-$800 in silver and buying in 100-150 increments over 3 weeks.
I would tell anyone buying gold or silver today you are buying an insurance policy and hoping for an investment growth kicker. The fed and admin is willing to create an unbelievable amount of make believe frn to attempt to try to keep the whole shebang going.
The currency is becoming worthless and that bodes well for pm’s, the economy is rolling over and getting a future series of hits including fascist Wuhan restrictions and higher taxes this bodes ill for pm’s.
Good luck.
Old Gray Mare
TB Fanatic
Blacknarwhal has a very valid point. Just saying....
Fair use.
People Choose Free Candy Bar over Free 10 oz Silver Bar (Worth $150) in Experiment
Jul 8, 2015
Mark Dice
Media analyst Mark Dice offers random people their choice of a Hershey chocolate bar or a 10 oz silver bar (Worth $150) in an experiment. You have to see what happened next!
View: https://www.youtube.com/watch?v=bYhTFz_SGw0
Run time 3:01
Fair use.
People Choose Free Candy Bar over Free 10 oz Silver Bar (Worth $150) in Experiment
Jul 8, 2015
Mark Dice
Media analyst Mark Dice offers random people their choice of a Hershey chocolate bar or a 10 oz silver bar (Worth $150) in an experiment. You have to see what happened next!
Run time 3:01
The Snack Artist
Membership Revoked
The commemorative coin is in honor of the bat research at wuhan, jyna.
People say a lot of things but in reality it is the prettiest of the ugly sisters and more stable than most emotions.
U.S. Dollar Index - 43 Year Historical Chart | MacroTrends
SDR's
IMF Special Drawing Rights to US Dollar Exchange Rate Chart | Xe
U.S. Dollar Index - 43 Year Historical Chart | MacroTrends
SDR's
IMF Special Drawing Rights to US Dollar Exchange Rate Chart | Xe
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Old Gray Mare
TB Fanatic
Yes these people live among us.
Fair use.
Selling 1 Oz Gold Coin for $25 (when it's worth over $1,500)
May 28, 2012
Mark Dice
Mark Dice tries to sell a 1 ounce solid gold coin for $25 outside of a coin shop in San Diego, CA. HINT- It's worth WAY more than $25, but does anyone want it?
View: https://www.youtube.com/watch?v=ndshbH3qZ6Y
Run time 12:35
Fair use.
Selling 1 Oz Gold Coin for $25 (when it's worth over $1,500)
May 28, 2012
Mark Dice
Mark Dice tries to sell a 1 ounce solid gold coin for $25 outside of a coin shop in San Diego, CA. HINT- It's worth WAY more than $25, but does anyone want it?
Run time 12:35
West
Senior
Old Gray Mare
TB Fanatic
How comfortable do you feel with the amount of other preps you have stored?
People say; "Oh if things get bad I'll buy with gold!" thing is there have been times in history so bad that silver and gold was useless as a medium of exchange. Historically that usually happens when people are more worried about literally starving than a hedge against inflation.
The other thing is with buying with gold? I'd be concerned about getting my change in lead.
People say; "Oh if things get bad I'll buy with gold!" thing is there have been times in history so bad that silver and gold was useless as a medium of exchange. Historically that usually happens when people are more worried about literally starving than a hedge against inflation.
The other thing is with buying with gold? I'd be concerned about getting my change in lead.
I agree. If you buy 1923 silver dollars, then due to their sheer size, people would know they are really silver. I too am looking at gold. Canada gold maples in particular because they have the highest percentage of gold in the coin (99.9999 %), so they'd retain their value even if cut.
TxGal
Day by day
IMHO, an emergency fund of 6 mos expenses probably should be a priority (and I'm trying to not scream Dave Ramsey in all caps).
As many others have said, stocking up on food and other essentials also a priority. Silver (or gold, as to your preferences), when you've got the above squared away.
Not sure if you're looking for a piece of land for you and the pups, but prices seem to be pulling back now in our area...not a lot, but it's beginning. With cash socked away, you might be able to pick up something in the next 6 months or so, if not sooner.
Dave Ramsey, Dave Ramsey, Dave Ramsey :-)
As many others have said, stocking up on food and other essentials also a priority. Silver (or gold, as to your preferences), when you've got the above squared away.
Not sure if you're looking for a piece of land for you and the pups, but prices seem to be pulling back now in our area...not a lot, but it's beginning. With cash socked away, you might be able to pick up something in the next 6 months or so, if not sooner.
Dave Ramsey, Dave Ramsey, Dave Ramsey :-)
I need to be completely debt-free before I’ll look for land. In addition, I’ll need to have $10,000 in-hand. So no, I’m not looking for land right now.
SmithJ
Veteran Member
TKO
Veteran Member
Don't buy any penny stocks and you'll be OK. Buy the gold then if it's strictly a prep item. What's holding you back? Must be something.
I consider the stock market to be gambling, the same is if one were in Vegas.
naegling62
Veteran Member
I would help you out in your decision but I only buy kilo bars.
cyberiot
Rimtas žmogus
I get it. In that case, I recommend silver, for reasons outlined in Priority Three. May it bring you peace of mind.
Well, why does the survival food seller not keep all his food. It's called business.
Redcat
Veteran Member
That’s not a lot for a emergency fund. When you have $5k, then start to save for smaller coins. I buy 1/10 ounce maple leaf. Think hard about an ounce of gold, because in a bad situation say you need one tire badly. They’re up to $400 a tire and no one wants fiat. What do you do then? Sell all your gold, probably at a small loss and get the tire and have fiat left?
I save 1/4, 1/2, 1 ounce silver. And 1/10 ounce gold. Silver for daily needs, gold for bigger things. There are farmers here that will take silver for produce. And my auto place gives a cash discount now and he will take gold (I’ve asked).
I keep my emergency fund untouched always. Well, unless there is an emergency of course. Then my job one is to replace what I took out first, and back to stacking.
I save 1/4, 1/2, 1 ounce silver. And 1/10 ounce gold. Silver for daily needs, gold for bigger things. There are farmers here that will take silver for produce. And my auto place gives a cash discount now and he will take gold (I’ve asked).
I keep my emergency fund untouched always. Well, unless there is an emergency of course. Then my job one is to replace what I took out first, and back to stacking.
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SpokaneMan
Veteran Member
Iv'e only encountered the first page of this thread.
I am voting a hard NO on buying gold. Save your cash reserves and what ever is left over buy some silver rounds, American Eagles, or a few rolls of junk silver. IMO, the Gold market is more highly manipulated.
Gold is for Kings, and Silver is for Gentlemen, which I don't see you being a part of either group. LOL. (Rib shot on ya Dennis).
Just last week I bought another 20 rounds of .999 silver for about $600.00. And today I bought 5 American Silver Bagels for $200.
Look. Just picture the future in your mind. Would you rather have Gold that nobody can make change with? Or would you be better inclined to get silver in smaller denominations so that they don't need to give you change. Hell, as it is right now, 1 round of silver could almost fill your gas tank. It's a hedge bro. Not necessarily an investment. And I think said hedge is a better idea. Silver is a better choice.
Having said that, real physical silver is a better optic to the general population. White metal is sexier and also provides all the nutrition needed for anti-bacterial situations. I'm sure that you already know that Americans in the older generations actually put silver in their milk to keep it from souring to bad juju.
And thinking of our current situation today, I would never put gold in the must get category. If you move to California and find that sweet metal, then more power to you. But I would never buy it.
I am voting a hard NO on buying gold. Save your cash reserves and what ever is left over buy some silver rounds, American Eagles, or a few rolls of junk silver. IMO, the Gold market is more highly manipulated.
Gold is for Kings, and Silver is for Gentlemen, which I don't see you being a part of either group. LOL. (Rib shot on ya Dennis).
Just last week I bought another 20 rounds of .999 silver for about $600.00. And today I bought 5 American Silver Bagels for $200.
Look. Just picture the future in your mind. Would you rather have Gold that nobody can make change with? Or would you be better inclined to get silver in smaller denominations so that they don't need to give you change. Hell, as it is right now, 1 round of silver could almost fill your gas tank. It's a hedge bro. Not necessarily an investment. And I think said hedge is a better idea. Silver is a better choice.
Having said that, real physical silver is a better optic to the general population. White metal is sexier and also provides all the nutrition needed for anti-bacterial situations. I'm sure that you already know that Americans in the older generations actually put silver in their milk to keep it from souring to bad juju.
And thinking of our current situation today, I would never put gold in the must get category. If you move to California and find that sweet metal, then more power to you. But I would never buy it.
Margin.
Doc1
Has No Life - Lives on TB
Dennis, these are scary economic times and debt is very, very tricky to deal with in uncertain times. First thing, assess your secured and unsecured debt and adjust your payment priorities accordingly.
As many of you know from my prior posts, precious metals are a cornerstone of my retirement. No, they're not my only retirement assets, but are an important part of them. (I don't have to say this to our membership, but as this is a public forum I'll reiterate that a.) I don't keep much metal inventory here. b.) I'm armed 24/7 and c.) I'm a (real) combat vet and am better-trained than most might imagine. Taking mortal chances with me for a relatively small amount of PMs is the ultimate in a poor cost/benefit exercise and, well, you'll die.)
The people who say "You can't eat precious metals" are absolutely correct, but you can't eat Dollar bills either and for that matter, you can't eat hoes and plows or guns. All tools have their appropriate applications. What precious metals can do is give you a medium of exchange and a store of value when your national currency goes down the tubes (as the US Dollar is currently doing).
It's my opinion that US cash will have at least some value during a collapse, as that's what most people are familiar with and unfortunately, most don't understand PMs. That window may not last long, but should be at least several weeks and probably longer. Also - interestingly - I believe there will be a period when no one knows what metals are worth. Current PM prices are heavily rigged and I think the rigging will reach a frenzied crescendo during a collapse as TPTB grasp at straws. Remember not too long ago when the crude oil price reached a negative $40/oz? That was pure rigging, as was today's metals smash. People will rather quickly understand what PMs are worth after a period of adjustment.
At some point, cash won't buy anything - think Zimbabwe Dollars - and then your PMs will come to the fore. IMHO small denomination 90% US silver coins, such as dimes, quarters and halves, will be the best medium of exchange to have for small purchases. Full ounce gold Krugerrands and American Gold Eagles might be the equivalent of what $60,000 Bitcoins are today (and yes, I understand that you can divide Bitcoin). What would you buy with them and who could make change? I'm not saying not to buy one ounce coins, but suggest that you look at them as future generational wealth or the sort of things you might use to buy a house or a small farm. They won't be your grocery, beer or cigarette money.
For nearer-term survival purposes, fractional silver and gold will be a much better choice. Yes, the premiums are high but it is what it is. Some here have suggested silver rounds and while I own some, they are much easier to counterfeit and will be seen as less trusted than US coinage.
For the relatively small amount you are considering investing, I believe you will be better served with fractional silver and gold, not full one ounce coins.
Hope this helps.
Best
Doc
I have zero secured debt and $3480 of unsecured debt, which should be paid off before the end of the year.
Txkstew
Veteran Member
I know I've told this story here before, but that's what old people do, tell the same old over and over! Anyhow, it's just so cool how this went down, I got to tell it again.
I'm in my Credit Union lobby one day, filling out a deposit slip. As I finish, and turn to go up to the teller, a guy had walked in and was headed the the teller desk. I stopped and waved him on. I fell in behind him, and in walks a young man, maybe 20 yo. and is behind me now. He's carrying a big plastic tray. I look over my shoulder, and he has a bunch of coins in the tray. They are all black with soot or something. I asked him, "Is there any old coins in there? He picks one up and says 1887.
At this point, the teller says to the kid, if you want to cash them in, they have to be wrapped. I looked at the teller, and said "Not a Problem". I motioned the kid over to a waiting area, and we went to counting the coins. These things were covered in melted plastic from coin flip sleeves, and black. You could still see the coin and date. 27 Morgan silver dollars, 44 pre '64 quarters, 6 Kennedy half dollars, and 2 commemorative Eisenhower 100 years coins. The rest were current coins. I'm adding up the that day melt value in my head as we go, and told the kid, I'll give you $250 cash. His eyes got big as saucers, and said he had no idea how much they were worth, and hell yeah. I whipped out the cash, and took the silver ones. Should have took all for one price. Might have missed one.
So, before he leaves, he said they were in his Grandpaw's shed, and recently, it burned down, and those coins were found like that. He said Grandpaw told him to go to the bank and cash them in. That was his story. He seemed like a good kid, and I told him that I was getting the better part of the deal, but that was all I could spend.
So then I go home to look at my newly acquired booty, and one of the first Morgan's I look at, is a CC mint mark from the next to last mint year, and in VF condition in my opinion and it was not covered in melted plastic. The coin shop guy said, without looking at it, I probably have a $50 coin....my ass says I. Anyway, I figure I scored over $700 bux worth at the time.
Oh, and that melted plastic, I haven't found anything to get it off. Alcohol, paint thinner, gasoline, nothing.
I'm in my Credit Union lobby one day, filling out a deposit slip. As I finish, and turn to go up to the teller, a guy had walked in and was headed the the teller desk. I stopped and waved him on. I fell in behind him, and in walks a young man, maybe 20 yo. and is behind me now. He's carrying a big plastic tray. I look over my shoulder, and he has a bunch of coins in the tray. They are all black with soot or something. I asked him, "Is there any old coins in there? He picks one up and says 1887.
At this point, the teller says to the kid, if you want to cash them in, they have to be wrapped. I looked at the teller, and said "Not a Problem". I motioned the kid over to a waiting area, and we went to counting the coins. These things were covered in melted plastic from coin flip sleeves, and black. You could still see the coin and date. 27 Morgan silver dollars, 44 pre '64 quarters, 6 Kennedy half dollars, and 2 commemorative Eisenhower 100 years coins. The rest were current coins. I'm adding up the that day melt value in my head as we go, and told the kid, I'll give you $250 cash. His eyes got big as saucers, and said he had no idea how much they were worth, and hell yeah. I whipped out the cash, and took the silver ones. Should have took all for one price. Might have missed one.
So, before he leaves, he said they were in his Grandpaw's shed, and recently, it burned down, and those coins were found like that. He said Grandpaw told him to go to the bank and cash them in. That was his story. He seemed like a good kid, and I told him that I was getting the better part of the deal, but that was all I could spend.
So then I go home to look at my newly acquired booty, and one of the first Morgan's I look at, is a CC mint mark from the next to last mint year, and in VF condition in my opinion and it was not covered in melted plastic. The coin shop guy said, without looking at it, I probably have a $50 coin....my ass says I. Anyway, I figure I scored over $700 bux worth at the time.
Oh, and that melted plastic, I haven't found anything to get it off. Alcohol, paint thinner, gasoline, nothing.
Hognutz
Has No Life - Lives on TB
Where are these people selling this when I’m around?
Call a fire station and ask them.
Artificially Intelli
Senior Member
Dennis, I have quite some experience in this matter. I've been a lurker here for years but don't know your personal situation, but i make the very reasonable assumption that you are already a prepper with all the food and ammo etc that you need to get thru a prolonged crisis..........that being said, gold is an exceptionally good store of wealth, and $1800 is an exceptionally good price at this time. I personally think gold in the near term probably goes to $5000 at least. On the other hand i think silver is very seriously undervalued and will out perform gold in a big way, and will be much more dispensable in the future. The current problem with both is availability. There isn't any. All of these well meaning folk telling you to buy silver apparently haven't tried to buy any lately. I love silver, but it's very hard to get your hands on any. If you have the opportunity to buy gold at $1800, buy it now, keeping in mind that at some point in the not so distant future that fed paper you have may be worthless.
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rob0126
Veteran Member
An Alternative idea:
Take some of that money and invest in good food and healthy supplements that can help you restore your health.
Healthy Keto seems to be a good way to go and you dont have to eat rice cakes.
But you have to discipline yourself.
Health>Gold/Silver Coins when you're trying to survive SHTF.
Take some of that money and invest in good food and healthy supplements that can help you restore your health.
Healthy Keto seems to be a good way to go and you dont have to eat rice cakes.
But you have to discipline yourself.
Health>Gold/Silver Coins when you're trying to survive SHTF.
Love the 1/10th ozers, but pay $2200-$2500 an Oz with spot at -$1800.00?
Not a very wise move.
Tex88
Veteran Member
The joke is, once I paid off all my debts (car, student, card), my credit score dropped by 12 points because now I have less open accounts.
Want to hear a real joke? In 2015, my credit score was about 550. I didn’t really care, because I didn’t want to buy on credit. However, Hermione was aging, and I needed a way to pay for her care. So in the summer of 2015, I got a prepaid CC through my bank. Only a $300 limit. I bought things and paid it off, bought things and made a few months of payments before paying it off, etc. I played with it for a year. I decided at that point to get the Credit Karma app and see what my score was. I was shocked that it was about 625.
I decided to get a couple CCs that weren’t secured, if my score would let me. It did. I was more than a little shocked. Anyway, I worked those cards just like my secured one. By the time Hermione was at the end of her life, I had about $10,000 in available credit (March 2018.) Fast forward to today. I have nine CCs, only one with a balance of $3850 which will be paid off by the end of the year. My credit score is 820, and I have $86,000 (!) of available credit. And that was by “playing” with card balances and purchases like a card game. It was kind-of fun, really. I now know how to manipulate my score any way I wish. Fascinating.
I decided to get a couple CCs that weren’t secured, if my score would let me. It did. I was more than a little shocked. Anyway, I worked those cards just like my secured one. By the time Hermione was at the end of her life, I had about $10,000 in available credit (March 2018.) Fast forward to today. I have nine CCs, only one with a balance of $3850 which will be paid off by the end of the year. My credit score is 820, and I have $86,000 (!) of available credit. And that was by “playing” with card balances and purchases like a card game. It was kind-of fun, really. I now know how to manipulate my score any way I wish. Fascinating.