ECON So is now the time to buy gold?

day late

money? whats that?
Personally, I can't afford gold. What I have done is pick up junk silver whenever, wherever possible. But I would also advise having a bit of silver around. One thing that is not going to change is that whenever any kind of deal is made, there is likely going to be haggling over the change. i.e. A 1/10th oz. gold coin more than fills your tank. What do you get or give in change? The best answer not involving either I.O.U.'s or livestock is going to be silver.
 

Sacajawea

Has No Life - Lives on TB
To the OP:

If your question is in part or whole, a reaction to the SVB bank failure, I hope your pockets are deep and patience steadfast. The price of gold is high, IMO, these days. It may pull back some which is a better time to buy. But I seriously doubt we'll see under $1600/oz again. So, if you're converting non-emergency savings to gold, best of luck to you. Pay the premium & shipping from a reputed dealer. Get eagles (gold or silver) over bullion. Good luck finding it; last I looked it was scarce. Plan to hold it 10 years or so. True we may not HAVE 10 years, but then, I thought that when gold was $1200. So you may/may not regret this purchase or tying up cash in the future.
 

TKO

Veteran Member
Now is not the time to buy gold. The time for buying gold passed a while back. Gold will hit 2K/ounce and that is as high as they will let it go.
 

CaryC

Has No Life - Lives on TB
Personally, I can't afford gold. What I have done is pick up junk silver whenever, wherever possible. But I would also advise having a bit of silver around. One thing that is not going to change is that whenever any kind of deal is made, there is likely going to be haggling over the change. i.e. A 1/10th oz. gold coin more than fills your tank. What do you get or give in change? The best answer not involving either I.O.U.'s or livestock is going to be silver.
Yeah and I get that for sure.

More in silver for everyday expenses, bread and milk.

A couple of gold pieces in a shumer would be good for like buying a horse, or a tractor, and some big gold pieces means you carry alot of money in small places, for bribery to cross border etc.
 

day late

money? whats that?
Yeah and I get that for sure.

More in silver for everyday expenses, bread and milk.

A couple of gold pieces in a shumer would be good for like buying a horse, or a tractor, and some big gold pieces means you carry alot of money in small places, for bribery to cross border etc.

Years ago, I read a post WW III sci-fi book. In the story the good guys find themselves at a backwoods store/gas station. They buy several cokes and ask the price. The answer was;

"Half a dime."

A silver dime was brought out and cut in half. Kinda like pirate's "Pieces of eight". A coin minted, to be divided.
 

Dozdoats

On TB every waking moment

day late

money? whats that?
I still don't have any clear answer why PM's are going to do me any good if it all collapses. Or what I would do with my pre 2000 coins. Or where I would turn them in for the new currency or whatever. The last I heard the County isn't taking them for taxes in CA.
Everytime this happens I see people get sucked in to buying Gold and silver and then losing a ton of money when they crash the price. Somebody on here bought silver one time near 50 bucks if I remember correctly. How did that work out for you?

I can tell you this much. A VERY long time ago, I did manage to buy a little gold. It was in the 80's or 90's and I paid a whopping $350 an oz. for it. A few years went by and we had some trouble. I sold the gold at around $875 an oz. We got through the hard times. I haven't been able to afford gold since. I've bought silver. Most of what I have right now was bought at $15 an oz. Currently it is down to about $20 an oz.

Where will you sell it once tshtf? Trust me. People will be buying and it won't be hard to find them. The hard part is going to be getting the price you want. But that's always the problem.

Edit to add: It reminds me of the Bible account of the famine in Egypt while Joseph was in charge. It is recorded the people came to him with the complaint,

"The money faileth". Gen. 47:15

He took land and/or PM's in exchange for stored food. Dad always told me "if you are going to invest, invest in something they aren't making more of." They aren't making more PM's and they are a lot easier to carry and trade with than land.
 
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TKO

Veteran Member
IMO, silver more likely to double
quicker & more often than gold.

Panic Early, Beat the Rush!
- Shane
I am skeptical of this happening in what I have left of my life. However, I have read plenty of articles that it will double. To me, a gold buyer since my college days, that would be a boon to me. YET...scary because if it doubles that means the economy has basically died...or we've officially embraced communism as a nation.
 

jward

passin' thru
zerohedge
@zerohedge
·
10s
"Due to recent banking developments, we are experiencing record volume demand this weekend" - Apmex
 

Dobbin

Faithful Steed
Prolly too late for gold. Better to buy compost.

Owner says he's "holding." I think he's being "figurative" in that statement.

Dobbin
 

Terrwyn

Veteran Member
Here's your answer:



And I personally have never seen silver at 50.00. But that is me. Have seen ads predicting it to go to 50.00 but never actually hitting 50. The highest I've seen is 28-29.00.

And only revert to using gold and silver in survival. NOT paying taxes. When it comes time to use gold and silver for that, the end has already come and they won't be collecting taxes.

And only use money to buy gold and silver that you won't need for long periods time, as in decades. As has been mentioned multiple times gold and silver is NOT to grow wealth, but to preserve it.
I can't remember what year exactly it was after the housing crash. Around 2010 or so. Made it to the high 40 's but then I am old and don't know what money is. Somebody on here is smarting from that great investment but they will never admit it. That is not to say I don't love silver because I do. I just liked it best when it was around 3 to 5 an oz.
 

Terrwyn

Veteran Member
Personally, I can't afford gold. What I have done is pick up junk silver whenever, wherever possible. But I would also advise having a bit of silver around. One thing that is not going to change is that whenever any kind of deal is made, there is likely going to be haggling over the change. i.e. A 1/10th oz. gold coin more than fills your tank. What do you get or give in change? The best answer not involving either I.O.U.'s or livestock is going to be silver.
Which gas station will take silver? Oh wait maybe those Iranians that pay cash for stolen goods like cigarettes and booze.
 

Southside

Has No Life - Lives on TB
Even if gold were to double, you can almost bet your rear end that the premium for buying and selling it will also double. You can take that to the bank.
Real premiums tend to be a percentage. +3 or 4% minimum on spot.
 

Ragnarok

On and On, South of Heaven
Yeah and I get that for sure.

More in silver for everyday expenses, bread and milk.

A couple of gold pieces in a shumer would be good for like buying a horse, or a tractor, and some big gold pieces means you carry alot of money in small places, for bribery to cross border etc.

:hmm:

Which border? Narco-terrorist Mexico or communist Canada?
 

Ragnarok

On and On, South of Heaven
A piece of 8 was a Spanish 8 reales coin - Spain’s Legendary 8 Reales ‘First Dollar of the Americas’ Auctioned for $528,000

With little small change available, silver dollars were often cut up into 'bits' to make change. A bit was worth 12 cents more or less.

The Vikings chopped up looted silver as needed by weight. It was called hackslver. Hacksilver - Wikipedia

Wich is why I prefer 90% dimes to silver Eagles.

I always wondered where the term "Two Bits" came from when referring to a quarter.
 

day late

money? whats that?
Which gas station will take silver? Oh wait maybe those Iranians that pay cash for stolen goods like cigarettes and booze.

You would be surprised what will happen when tshtf. Something of known value in your hand is better than a piece of paper that takes a wheelbarrow full of to buy a loaf of bread. Someone will trade their paper for your silver or gold, I assure you. Then you can take the paper and get the gas. OR maybe a side deal with the station owner???
 

TidesofTruth

Veteran Member
It is getting more and more difficult to get delivery, even by the big houses and by tomorrow night I would believe it virtually impossible, at least for the short term. I bet Saturday was busy at most every broker.
 

Blacknarwhal

Let's Go Brandon!
Admittedly, I'm wavering between buying more silver and more food. I'd love to just yell BOTH and go that route, but in the real world, people have budgets.
 

Double_A

TB Fanatic
Precious metals should only be purchased with your excess money.
Historically these metals have provided a store of wealth that could weather any economic or financial storm.
Personal opinion: I question if precious metals will continue to provide the same wealth storage in the future as in the past. People used to be smart and now most are stupid. People used to be able to understand wealth and now they do not. That said, I do have a couple silver dimes on-hand just in case.

LOL, what are you doing trying to deal with people you've described?
They are idiots, deal with people who are informed, keep going, don't stop.
 

Double_A

TB Fanatic
A piece of 8 was a Spanish 8 reales coin - Spain’s Legendary 8 Reales ‘First Dollar of the Americas’ Auctioned for $528,000

With little small change available, silver dollars were often cut up into 'bits' to make change. A bit was worth 12 cents more or less.

The Vikings chopped up looted silver as needed by weight. It was called hackslver. Hacksilver - Wikipedia

Wich is why I prefer 90% dimes to silver Eagles.

I like both Dimes/Quarters and Silver Eagles, so I have a bit of both, each for different reasons.
We can still buy what we pretty much like, so get a bit of several different things and more of things you really prefer.
 

Kathy in FL

Administrator
_______________
Why not take any "excess" and invest in a freeze drier? That way you can take part of your normal grocery money, spend it on what you normally eat, freeze dry it for long term storage, and then you don't have to worry about buying food nearly as much. My mom just freeze dried another 60 eggs. That many eggs winds up being about 2 and 3/4 quarts of egg powder. Vacuum sealed in quart jars or sealed for long term storage, we are already way out ahead of the increasing price of eggs.

The freeze dried foods are assets we won't have to buy down the road with the hypothetical use of precious metals.
 
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