…… Should I buy gold?
- Thread starter Dennis Olson
- Start date
You’re right, you don’t know. Nor do you understand what I clearly said upthread as to why I dealt with a local brick and mortar facility.
Let me put it another way. I checked yesterday with JMB on their website for the cost of a tube of SAEs. They wanted $647. I called my coin guy and asked him the same question: $611. Coming directly from JMB.
Further, you can’t ask a website any questions. Nor are most of the reps willing to talk to a “little guy” buyer like me. The coin shop guy IS willing to talk to me, and answer my questions. So you can sit in your basement and tap on your keyboard. I’ll keep doing me.
Further, you can’t ask a website any questions. Nor are most of the reps willing to talk to a “little guy” buyer like me. The coin shop guy IS willing to talk to me, and answer my questions. So you can sit in your basement and tap on your keyboard. I’ll keep doing me.
packyderms_wife
Neither here nor there.
looks like you got autocucumbered!
I found out I can buy from the local jewelry store on main street, and I don't have to buy a whole tube of coins, which makes purchasing a little bit more doable for small fries like myself.
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Already fixed. Had to make several passes.
Most people can not think in the terms of diamonds. Moving a lot of wealth across borders. 5 carat plus as perfect as you can afford. However if someone thought you may be carrying those diamonds they may be looking at some point through your bread, jam, and peanut butter. Loose diamonds.
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One of my old commanders was as a small boy the courier for his family's wealth, converted to gemstones by his father and stuffed into young Sid's rectum in a small cloth bag.
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I would have mentioned Jewish but people get anti-Semitic visions for some reason without reason.
ainitfunny
Saved, to glorify God.
Your answers are valid but snotty. Excuuse me for not knowing everything. By the way,
I don't HAVE a basement!
For “not knowing everything,” you certainly present yourself as all-knowing, and have for decades.
Ku Commando
Inactive
Don't take it personal AIF........Denny's got an axe to grind w/ a teenager and it's just spillin' over on you.
Warm Wisconsin
Easy as 3.141592653589..
WOW - wish I would have listened to this comment! I would have been a millionaire just in those two months. Got any other advice?
Jubilee on Earth
Veteran Member
I didn’t read through the whole thread yet, but we didn’t start buying PMs until we had enough cash in the emergency fund to pay all our bills for 6 months, and enough preps (not just food, but toiletries, meds, paper products, etc.) for six months. And then after that we started with silver.
Crusty Echo 7
Veteran Member
I’ve been buying small 1 oz or less .999 silver coins/bars. JM Boullion frequently runs deals that if you order $200 or more it’s free shipping.
My thing is you’ll want something easy for a “newby” to authenticate easily and at a value you can actually use without breaking it up. Most stores won’t have enough cash on hand to make change soon.
Plus at current prices you’ll be able to keep a good amount of cash too.
My thing is you’ll want something easy for a “newby” to authenticate easily and at a value you can actually use without breaking it up. Most stores won’t have enough cash on hand to make change soon.
Plus at current prices you’ll be able to keep a good amount of cash too.
thereisnofork
Veteran Member
Sorry I didn't chime in sooner. Another option from JMB is the Valcambi bars. You can get 20, 50 or 100 grams. These are sheets of metal, scribed to break off into 1 gram units. Would be better for early gold acquisition since you could break off 1 gram pieces for barter. Put "Valcambi" in the search bar.
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Thunderbird
Veteran Member
I personally would not trade food, gas, or any material items for a piece of unknowium metal.
Paper will be worthless, but today it will buy canned goods, and day to day necessities to put aside for furure use and or trade.
If I were to go into precious metals I would do US coinage, Gold or pre 64 silver.
Paper will be worthless, but today it will buy canned goods, and day to day necessities to put aside for furure use and or trade.
If I were to go into precious metals I would do US coinage, Gold or pre 64 silver.
That's a smart bet.
I just had this discussion with a friend of mine. I understand the necessity of wealth preservation, but it all comes down to what you are preparing for. You cannot eat PMs, and in a collapse scenario PM value will vary wildly based on the availability of basic necessities.
This also assumes that individuals believe that society will once again establish a financial system backed by PM. How would PM fit into the coming all digital FEDCOIN system? Intrinsic trade value? Just musings.
Crusty Echo 7
Veteran Member
Agreed, this is all assuming the basics are well stocked.
7 months from now the federal funds rate will start moving up. Will oil move up from here? Will we be at war? Barring some unseen force if rates go up metals will go down.
Hfcomms
EN66iq
Never thought I would see a penny out of the company 401-K as I was sure it was all going to blow up before then so I wrote it off. Our plan doesn't allow for distributions until you retire, are terminated or reach 59 and a half. Will be 59.5 in the middle of January and if things still are holding together I'm going to take as much as I can, pay the tax and turn it into gold.
Maybe some silver as silver is really undervalued even moreso than gold but financial resets in the end are always done against gold. Time will tell if we make it that far and not sure how much I can take out but at this point anything is better than nothing. Two months away is getting temptingly close. But with my luck the day I turn 59.5 the financial system blows up.
Maybe some silver as silver is really undervalued even moreso than gold but financial resets in the end are always done against gold. Time will tell if we make it that far and not sure how much I can take out but at this point anything is better than nothing. Two months away is getting temptingly close. But with my luck the day I turn 59.5 the financial system blows up.
Never thought I would see a penny out of the company 401-K as I was sure it was all going to blow up before then so I wrote it off. Our plan doesn't allow for distributions until you retire, are terminated or reach 59 and a half. Will be 59.5 in the middle of January and if things still are holding together I'm going to take as much as I can, pay the tax and turn it into gold.
Maybe some silver as silver is really undervalued even moreso than gold but financial resets in the end are always done against gold. Time will tell if we make it that far and not sure how much I can take out but at this point anything is better than nothing. Two months away is getting temptingly close. But with my luck the day I turn 59.5 the financial system blows up.
The only thing in this country I see as "undervalued" is the truth.
Quiet Man
Nothing unreal exists
Suggest that a substantial portion be in silver. It's likely to rise much faster when they 'lose' control. Did you see that they recently sold 750 million ounces of paper silver in 1 day to defend the 200 DMA? A year of production; crazy. The whole thing is beyond farcical.
The timing? Before or after? In my mind it could easily be either way. Please know, in advance, how you will execute and have the skids greased.
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thereisnofork
Veteran Member
This thread was about "should I buy gold". I was suggesting an alternative to buying a single 1 ounce coin which is a lot of money tied up in a single coin. The valcambi offers an alternative that can be broken into 1 gram increments. Some people may be in a situation where focusing on the other survival items is a higher priority. For those that have a lot of their bases covered this is a way of getting gold that is more "usable" in trade. In South America, they trade links from gold chains for items they need. Of course you could trade TP, alcohol or other items in barter. I wouldn't trade the lead precious metals, as they could have a tendency to be returned.
bracketquant
Veteran Member
Revelation 3:18
Hfcomms
EN66iq
It is not yet that day. Until that day occupy until he comes.
The Snack Artist
Membership Revoked
You can bet your ass folks will become educated quickly when the fiat dollar goes TU.
Walrus Whisperer
Hope in chains...
I would go for several small pieces rather than one big one. If you've got a situation and had to use any, small pieces are still usable and you don't have to part with the huge one where 2 or 3 of the smaller amounts would do.
Vegas321
Live free and survive
In just about the same position as well. Infact, going to discuss the same issue with the wife tonight.
Keeping 2k on hand is good. But at this point, inflation is in the economy now. Not just the markets.
My feeling, having some gold makes sense for a hedge.
West
Senior
You probably already know or have mused yourself, but I muse out loud...
Almost all dumb arses that couldn't even read and had no formal education for thousands of years could tell the difference between real PM coins and base metals.
I know that we have degraded in common sense by most standards today as a world population, than what we had in good common sense just 80 years ago.
TKO
Veteran Member
Again I say..."Hell NO!" Don't buy gold. You already look at it as a non-investment. You are better off buying preps. You didn't get in on gold when it was 700 an ounce. Even investing in bullets is a better way to go if you were even thinking about now investing in anything. For SHTF "money' food, guns, and bullets are the key.
I do not buy US Silver Eagles for the same reason I no longer hold 1 0z gold- I believe it will eventually represent too much value to be useful for daily transactions. That was the case in antiquity - look up hacksilver, or see Hacksilver - Wikipedia .
It was the case earlier in America as well, when small coins were not available. Silver dollars were cut in 8 pieces (aka 'bits') as a substitute.
Silver dimes and quarters are generally available today.
It was the case earlier in America as well, when small coins were not available. Silver dollars were cut in 8 pieces (aka 'bits') as a substitute.
Silver dimes and quarters are generally available today.
Quiet Man
Nothing unreal exists
Agree. I think in terms of the older rule that a silver dime is roughly equivalent to a days' wages.
The Snack Artist
Membership Revoked
If they're trading fiat paper for real bullets, I'm in like Flynn. I didn't just buy another thousand rounds of .308. Nope. Wasn't me.
I think the whole prep thing is over rated as in there's no real way to get in front of what's about to happen. Do your best to get what you need and don't be stupid. I know we have enough to last us a really good while. Barter goods are very important too. But you all know that.
Anyone looking for some TP? Get it while it's hot!