…… Should I buy gold?

[Cyclonemom]

For a PREP item, I would only buy silver.

Gold holds wealth, but consider your uses for it as a prep. You planning on buying a team of mules or horses? Then ok. But if you need shoes, or a coat, or some deer meat, you won't want to have to split a fancy gold coin if you have something smaller. Gold only could mean missing out on necessary smaller purchases.

Go with a bag of junk silver.

It sounds like you already have some gold in any case. Now it's time to diversify with smaller, everyday-use prep PMs.

My 2 highly devalued cents worth.

 

[Dennis Olson]

I don’t. I have a little silver.

 

[Txkstew]

A friend of mine does Jewelry as a hobby/business. He has a crucible oven that will melt gold and silver just fine. Make a die, and pour little gold coins of your own mint. Should assay out if using .999 gold/silver.

 

[Shooter]

I been collecting silver since a quarter cost 25 cents, in 1965 my dad would bring me home rolls of quarters and I would go thru them and pick out the real ones, I have a lot of silver, since then, I have never sold any, not counting collector coins,

I would not buy any gold, until everything else was covered. if everything goes to hell, gonna be hard to trade a 1/10 ounce gold for anything, silver is small enough value that you will be able to buy small things,

and people know you can buy fake gold coins, without the chemicals you cant test gold.. but never seen anyone make a fake dime or quarter

 

[Rabbit]

I'd buy a solar generator. One that could run a small room air conditioner especially living in hot
. Texas . I'm considering one in hot Ga. Please let excuse any errors I'm on my tablet .

 

[ainitfunny]

IMO- I'd buy silver rather than gold.

 

[summer-texan]

how about diamonds

 

[Sportsman]

IMO, you aren't rich enough to buy gold. Buy Silver, preferably American Eagles. Easily converted back to imaginary dollars, but has PM value and retention of that value. I wouldn't deplete more than half my ready emergency cash though.

 

[JasmineAndLace]

I agree with all the votes for buying silver. I have always wanted a gold coin or three, but from a practical standpoint if (when) the S really does HTF you sure don't want to spend your $1,800 gold coin on a loaf or two of bread. At that point no one will have anything with which to give back "change" or even know what the gold might be worth, and I think silver coins are a lot more recognizable as money than gold would be. People just can't wrap their brain around the value of gold. Just my two cents worth.

 

[ainitfunny]

Make sure you don't use your "rainy day funds" to make PM purchases or a gully washing transmission will go out.

 

[FreeSpace]

I like silver rounds.

Marked 1oz .999 purity.
Low premium.

 

[West]

If I had a vote, for what you should spend your extra FIAT on....

Fishing and hunting licensing and gear. And gas to get to the fishing and hunting spots.

Then some Morgans and Peace dollars.

Or do what Doc suggested.

 

[Doat]

In a time of up evil desperation will determine the value of gold.

 

[Blacknarwhal]

...in retrospect, this thread probably should have had a poll attached.

 

[Ku Commando]

I have 10 1 oz SEs, one Morgan, and one 5 oz silver commemorative thing from 2020 with a bat on the reverse.

You should try to move this piece now for spot +$5 with a private buyer.......a coin dealer might pay you spot for it.

Reason being, fancy larger pieces of silver [ as opposed to just bullion bars ] used to be looked down on as a novelty item. For what that commemorative's worth, I'd rather fractional gold....which does come smaller than 3.1g [1/10 oz]....see Credit-Suisse for gram bars

 

[20Gauge]

Silly question. Let me elaborate. I have enough “spare” cash on hand to buy a 1 oz gold eagle. It would cost me $1800. However, it would deplete my “ready cash” by two thirds. Remember that I am very nearly debt-free at this point.

Hence my question.

Your thoughts?

I would go with some junk silver first. Also, eliminating the debt is more about retaining assets. If the debt is non-secured, then go for the gold / silver otherwise pay the debt.

 

[20Gauge]

You should try to move this piece now for spot +$5 with a private buyer.......a coin dealer might pay you spot for it.

Reason being, fancy larger pieces of silver [ as opposed to just bullion bars ] used to be looked down on as a novelty item. For what that commemorative's worth, I'd rather fractional gold....which does come smaller than 3.1g [1/10 oz]....see Credit-Suisse for gram bars

Also, they will be the most likely item faked.

 

[Dennis Olson]

if (when) the S really does HTF you sure don't want to spend your $1,800 gold coin on a loaf or two of bread.

I’ve always said that in that situation, gold is to buy your way out of a jam.

 

[West]

I’ve always said that in that situation, gold is to buy your way out of a jam.

Gold or sex. Think we know what we need to have on hand!

 

[Dennis Olson]

You should try to move this piece now for spot +$5 with a private buyer.......a coin dealer might pay you spot for it.

Reason being, fancy larger pieces of silver [ as opposed to just bullion bars ] used to be looked down on as a novelty item. For what that commemorative's worth, I'd rather fractional gold....which does come smaller than 3.1g [1/10 oz]....see Credit-Suisse for gram bars

Dude, I didn’t buy it to sell. I bought it as a commemorative of the insanity that 2020 brought. All because (theoretically) of a bat. Again, I’m not considering PMs as part of an investment portfolio.

 

[WildOliveShoot]

I’ve worked in a coin store, off and on, for 15 years. Everyone buys and sell precious metals for different reasons. It all really boils down to personal reasoning. None of us know what will happen in the future. Your investment decisions will depend on how The Good Lord is leading you. The Bible says to diversify in seven different ways.
With that being said, there are a few things I tell the new investor.

Gold is a concentrated medium used to hold worth, especially if you feel the current system will fail. You wouldn’t use any gold you have, especially large coins until things settled out. Then it would be used to buy a house, land, horse, something big. Even as a bribe, you wouldn’t want to spend it all on one bribe. You won’t get change. LOL

In a collapse situation barter would probably happen first and settle into something that would hold value. Silver could be it or it could be something different. But silver will always have a value. People will very quickly figure out that a pre 1965 dime will buy them a dozen eggs. People don’t understand precious metals but it won’t take long for them to figure it out.

I read about a gentleman that lived in a country that the fiat started to inflate. He explained that his best thing was a very heavy gold chain. He would break off a small section and take that to a dealer, get the current fiat and quickly spend that fiat on food, batteries, household and personal needs, gas, etc. No one wanted a one ounce coin, too much concentrated value.


I could say so much more but will leave it with this. Dennis, your personal investment decisions will be different than others. My best advise is to take it to the Lord. He knows your future and those needs. Blessings on your decision.

 

[rob0126]

I’ve always said that in that situation, gold is to buy your way out of a jam.

If things go south, hopefully you wont be trading gold PM's for some Jam.

 

[CaryC]

I’ve always said that in that situation, gold is to buy your way out of a jam.

Absolutely. Not to be used as every day carry, for purchases.

It's what the Jews used to bribe guards at border crossings. Meaning a lot of money packed into a very small area, like in your shoe. Or belt.

 

[CaryC]

how about diamonds

On the surface that sounds good, and like gold a lot of "money" in a small area. However, reversing from diamonds to "money" or bribery, brings in the value, and how much is it worth?

Just saying Gold/Silver is more widely known, and used. Even for dumb border guards.

But if one is trying to preserve wealth, it is certainly an option. And not a bad one either.

 

[CaryC]

I’ve worked in a coin store, off and on, for 15 years. Everyone buys and sell precious metals for different reasons. It all really boils down to personal reasoning. None of us know what will happen in the future. Your investment decisions will depend on how The Good Lord is leading you. The Bible says to diversify in seven different ways.
With that being said, there are a few things I tell the new investor.

Gold is a concentrated medium used to hold worth, especially if you feel the current system will fail. You wouldn’t use any gold you have, especially large coins until things settled out. Then it would be used to buy a house, land, horse, something big. Even as a bribe, you wouldn’t want to spend it all on one bribe. You won’t get change. LOL

In a collapse situation barter would probably happen first and settle into something that would hold value. Silver could be it or it could be something different. But silver will always have a value. People will very quickly figure out that a pre 1965 dime will buy them a dozen eggs. People don’t understand precious metals but it won’t take long for them to figure it out.

I read about a gentleman that lived in a country that the fiat started to inflate. He explained that his best thing was a very heavy gold chain. He would break off a small section and take that to a dealer, get the current fiat and quickly spend that fiat on food, batteries, household and personal needs, gas, etc. No one wanted a one ounce coin, too much concentrated value.


I could say so much more but will leave it with this. Dennis, your personal investment decisions will be different than others. My best advise is to take it to the Lord. He knows your future and those needs. Blessings on your decision.

Good reply and advice.

In our current environment, in the US one could use say 24 karat gold wedding bands.

 

[Hfcomms]

I’ve always said that in that situation, gold is to buy your way out of a jam.

The jews that had gold used it to bribe the Nazi guards and escape the Warsaw ghetto. Read several examples of that.

 

[Ku Commando]

Dude, I didn’t buy it to sell. I bought it as a commemorative of the insanity that 2020 brought. All because (theoretically) of a bat. Again, I’m not considering PMs as part of an investment portfolio.

DOOD -- suit yourself....I'm just offering up practical advice -- SONNY

Multi ounce pieces are practical.....moreso when in the form of bars or old pours.....but those commemoratives are a novelty item.....sounds like you're married to it......not a good motif when stacking

As far as "investments" & paper trading.....find yourself a good miner -- SONNY

 

[Dennis Olson]

Thank you. I will.

BOY

 

[cris52]

Silver to gold ratio is 76 to 1. Silver to gold out of the ground is 9 to 1. Gold close to all time high, silver less than halfway and that's in 1980 dollars. Get as many easily recognizable ounces for the best price you can. You can buy dimes by the roll for about 28 an ounce compared to silver dollars which run close to 40 an ounce and with dimes you get 10 times as many transactions. An ounce of silver in junk is 1.40 face value. If the SHTF people will soon figure out that pre 65 silver is real money and if there is no collapse there will always be someone willing to take it off your hands.

I add this one caveat. If they are successful in reducing the population to 500,000,000 please disregard the above paragraph.

 

[NoDandy]

I been collecting silver since a quarter cost 25 cents, in 1965 my dad would bring me home rolls of quarters and I would go thru them and pick out the real ones, I have a lot of silver, since then, I have never sold any, not counting collector coins,

I would not buy any gold, until everything else was covered. if everything goes to hell, gonna be hard to trade a 1/10 ounce gold for anything, silver is small enough value that you will be able to buy small things,

and people know you can buy fake gold coins, without the chemicals you cant test gold.. but never seen anyone make a fake dime or quarter

There are fake collector grade silver coins, BU's, etc. One of the reasons people like the certified coins. The Chinese have got good at faking the higher grade coins ( bigger money ).

But I think you avoid the fake issue with circulated coins, like XF's, etc.

 

[20Gauge]

I’ve worked in a coin store, off and on, for 15 years. Everyone buys and sell precious metals for different reasons. It all really boils down to personal reasoning. None of us know what will happen in the future. Your investment decisions will depend on how The Good Lord is leading you. The Bible says to diversify in seven different ways.
With that being said, there are a few things I tell the new investor.

Gold is a concentrated medium used to hold worth, especially if you feel the current system will fail. You wouldn’t use any gold you have, especially large coins until things settled out. Then it would be used to buy a house, land, horse, something big. Even as a bribe, you wouldn’t want to spend it all on one bribe. You won’t get change. LOL

In a collapse situation barter would probably happen first and settle into something that would hold value. Silver could be it or it could be something different. But silver will always have a value. People will very quickly figure out that a pre 1965 dime will buy them a dozen eggs. People don’t understand precious metals but it won’t take long for them to figure it out.

I read about a gentleman that lived in a country that the fiat started to inflate. He explained that his best thing was a very heavy gold chain. He would break off a small section and take that to a dealer, get the current fiat and quickly spend that fiat on food, batteries, household and personal needs, gas, etc. No one wanted a one ounce coin, too much concentrated value.


I could say so much more but will leave it with this. Dennis, your personal investment decisions will be different than others. My best advise is to take it to the Lord. He knows your future and those needs. Blessings on your decision.

This is why there were pieces of 8. They were silver coins that were cut up to buy things. Same goes for gold coins.

I do disagree with the silver dime analogy. I suspect ( no direct reason or knowledge ) that it will take less than a dime to buy that dozen eggs. In the past it was copper / silver / gold.

If things really go south, I can foresee us going back to the same prices and standards.

I stand corrected on the egg theory, it was 21 cents to a dozen eggs.

Meals were $0.50 to $0.75 in 1900, before the Fed was created. Things will revert

 

[Walrus Whisperer]

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

Hands down the silver bar. Jeez some people are dumb.

 

[20Gauge]

Silver to gold ratio is 76 to 1. Silver to gold out of the ground is 9 to 1. Gold close to all time high, silver less than halfway and that's in 1980 dollars. Get as many easily recognizable ounces for the best price you can. You can buy dimes by the roll for about 28 an ounce compared to silver dollars which run close to 40 an ounce and with dimes you get 10 times as many transactions. An ounce of silver in junk is 1.40. If the SHTF people will soon figure out that pre 65 silver is real money and if there is no collapse there will always be someone willing to take it off your hands.

I add this one caveat. If they are successful in reducing the population to 500,000,000 please disregard the above paragraph.

This is why I have so many dimes right now. The dollars are too expensive. Yet I have not seen any silver to buy for the last 4 weeks....

 

[marsofold]

OK, now that it has been established that Dennis needs to buy silver, what reputable COMPANIES do experienced people recommend that deliver quickly? Don't want to wait any significant amount of time for delivery. If it can't arrive within a week, not doing business with that company.

 

[coloradohermit]

A few years ago I bought 10 1/10th oz gold rounds. I figured that would be more "spendable" than one full oz coin. My father-in-law collected silver coins so I'm well stocked with silver.

 

[Dennis Olson]

OK, now that it has been established that Dennis needs to buy silver, what reputable COMPANIES do experienced people recommend that deliver quickly? Don't want to wait any significant amount of time for delivery. If it can't arrive within a week, not doing business with that company.

I have a local coin store that gets their stuff directly from JM Bullion. Local store, face to face transactions, purchase receipts. When I take delivery, I can keep my receipt if I want, but the shopkeeper destroys his. If I have issues with the coins, I have a brick and mortar place to go (or potentially sue.


ETA: He’s only charging 8% premium on silver rolls vs. the going rate of nearly 10. Thus, a roll of 20 would be $611 delivered.

 

[Ku Commando]

I have a local coin store that gets their stuff directly from JM Bullion. Local store, face to face transactions, purchase receipts. When I take delivery, I can keep my receipt if I want, but the shopkeeper destroys his. If I have issues with the coins, I have a brick and mortar place to go (or potentially sue.


ETA: He’s only charging 8% premium on silver rolls vs. the going rate of nearly 10. Thus, a roll of 20 would be $611 delivered.

Cash&Carry w/ an 8% premium over spot -- GOOD DEAL -- GO FOR IT !!

Put it in an old empty paint can in the garage

But somehow the numbers don't add up for $611

Let's call spot @ $23 per ounce/round -- 23x1.08=24.84 times 20 = $496.80

Conversely, w/ spot @ $23and you've done a deal for 20 rounds @ $611.....that works to 30.55/ounce......a $7.55/ounce premium is 32.8%.......

So looks like the premium is $8/ounce.....steep by yesteryear's standards.....but it is what it is with supply short of demand.

You might do better w/ online ordering from various outlets.......but then you give up the anonymity of cash&carry.

Pawn shops and flea markets are another cash buy.

Estate sales & garage sales may turn up some chains or rings....bring a magnet....gold/silver won't stick

Local Coin store is your best bet.....cash&carry.....leave your phone @ home when shopping

KID

 

[Jonas Parker]

 

[Ku Commando]

Coin dealers near Austin

Coin dealers near austin, tx - Google Search

 

[ainitfunny]

i buy directly from JM Bullion, I dont know why anyone would do business with a middle man that buys from JM Bullion.