Buying actual precious metals and their funds

[Sgt7330]

Im not up on all this, but I know silver and gold are up now. I think I would hold off on buying into it now. Buy more guns

 

[GoDawgs]

Im not up on all this, but I know silver and gold are up now. I think I would hold off on buying into it now. Buy more guns

100% agree. Think about the people who got into the property market after real estate had already doubled and thought it would never go down. Lots of people lost their shirts. The same could be said about tech stocks in the early 2000's or tulip bulbs in the 1600s - once the masses start getting into the game, the real money has already been made.

As far as a SHTF world is concerned, I might have paid $1,400 for that ounce of gold, but who would be willing to give up food/water/bullets for something you can't eat/drink/shoot/use in trade? I think the value of that gold would decrease and you would have been better off buying $1,400 worth of consumables that would retain more value.

It doesn't hurt to get exposure to precious metals in your investment accounts as a hedge against inflation or a way to get in on developing market growth (I own mining stocks via mutual funds, for example), but physical commodities pose a number of risks that do not provide me enough return to justify.

 

[teddy12b]

There's no doubt in my mind that the prices of precious metals is a balloon that will someday pop. I don't doubt for a second that I've paid a premium for what little silver I've got. With that being said it's entirely likely that the prices will continue to go up the crazier this world gets. I don't think it'd be a bad thing to have some investments made just in case nothing bad ever happens also.

 

[ThrottleJockey]

Real chili doesn't have beans in it.

frijoles!

 

[Andyland]

Ok, you may be missing it.
an ounce of gold is $1355 an ounce this week.
What does your neighbor have to trade that is worth that much, short of one of their children, and who wants one of those!?
Trade rate for silver is 40 to 45 oz of silver per ounce of gold.
Neighbor can cough up something for an ounce of silver, much faster than for an ounce of gold, therefore silver is easier to trade.
Ebay is the answer!
If you buy more that $600 in anything online, you are supposed to fill out a separate tax form.
Uncle Sam needs YOU! or your money anyway.
Start with some ammo, follow with food, then some silver, then some kevlar, then some night vision, then repeat until desired effect is achieved.
If the zombies attack, anyone you let in, you have to feed. At least until the rednecks show up looking for more zombies to shoot. Stay low.
Without sharp objects or carnivores, we have doomed ourselves to a bumper crop of idiots, but Darwin will prevail, which means a population explosion will be followed by a mass die off.
add gasoline to the list.
and rum...
Start the list with rum...

 

[ThrottleJockey]

Start the list with rum...

Sound advice, learn to distill your own alcohol should be second on the list...great for barter, for medical purposes, can fuel small engines.....great to drink too. Don't worry about brand names either, go for quantity. I get the big 1.75s for less than $10.

 

[kevinsr98]

It would be very hard to trade for gold, given the high cost. That is why I collect only 1 ounce silver rounds. They are stamped .999 pure silver and I believe will be much easier to barter and trade with.

 

[nate1865]

Find hidden value in things that are worth something that seem undervalued.

Gold/silver was an excellent investment 5 years ago when few were buying it.

When there are commercials all over TV telling you to buy this or that, and billboards all over town recommending the same, you are probably buying something that is peaking in value. Once that marketing stops fueling the feeding frenzy of that item it is going to drop in value like a rock.

Money is a medium to purchase things of value.

 

[John Galt]

I don't view the purchase of gold/silver as much an investment as it is a hedge against what our government is doing to our currency. I have taken the personal view that the next 5 years are the most important period in our nations history, as I believe the consequences of the last 100 years of Progressive Liberal policies will come to its inevitable conclusion and we will be forced to deal with a fundamental shift in America. If I'm wrong, I come through the period with a lot of lifes necessities, my finances in order, in good shape and ready to get back to long-term planning. If I'm right, I'm in really good shape .....

Who is John Galt?

 

[djl02]

If you have a few thousand or a couple 100 thousand lying around,my thoughts are gold and silver are a good hedge against hyper inflation. If paperis worthless ,what else can you do? Decisions,decisions.

 

[teddy12b]

Buying the physical metal is a good idea because our country seems to be pretty "F"ed up. Buying the stocks or funds is just because its a way to make a buck before the bubble pops. Regardless of reasoning either way seems to be a good idea for now.

In the future if the price of the metals goes down I'm going to buy a bunch. Sort of like the guns and ammo panic buying, when the price gets back to where it should be ill be getting on the wagon.

 

[gunman41mag]

If all hell breaks loose, money will be devalued, & we would have to BARTER. To trade you'll need to own water, food, fuel, guns & bullets, these items are what people need.

 

[Stschil]

Beans, bullets, guns, and ammo should be first on the lists for anyone considering financial or societal collapse. Couple those with hands on skills like gunsmithing, blacksmithing, gardening, animal husbandry (No!, not that kind of husbandry ) etc and it will give you a good solid base for survival.

Precious metals should never be your sole focus. If you can't afford it now, don't stress about it. If you are considering it, make sure you can hold it in your hand, not own a piece of paper that may or may not mean you own some metal somewhere. No more than 25% of your net worth. Hedge against hyperinflation and also something to fall back to when a monetary system starts up again (if it comes to that). But, don't count on your junk silver dimes, your rounds, or your bullion bars to do you a whole lot of good initially. It's your savings account for much later.

 

[bigus_D]

No more than 25% of your net worth.

That seems like a HUGE number to me.

 

[Stschil]

That seems like a HUGE number to me.

No MORE than... you know,,not greater than? he he

 

[ATOMonkey]

Maybe one of you can explain the rational behind buying gold / silver to me .

According to FerFal , when he experienced the Argentine meltdown , precious metals weren't worth near the price you paid for them after the economy craps out .

Yes they will still have value but how will the average person know what their getting ? Is it really 24K .999 pure gold ? How will you know ?

An ounce of gold is going for what $1,400 now ? How do you expect to get something in trade worth that much after an economic nose dive ?

Very good question. A lot of collector coins are stamped 99.99% pure, but that's only describing their plating. They're still mostly nickel or tungstun or even lead if they're really cheap collector coins.

Coins of known value will still be valuable. Swiss Franks, American Double Eagles, any pre 1933 gold or silver coin, was actually worth its weight in gold or silver and was in circulation, prior to the confiscation.

Also pre '33 silver and gold bars or ingots are worth their weight, as they were also considered to be legal tender for dept, both public and private. In fact, government contracts used to be paid with gold and silver ingots in many instances. I digress...

Anything else is sketchy at best.

 

[teddy12b]

Beans, bullets, guns, and ammo should be first on the lists for anyone considering financial or societal collapse.

^^^ I agree with this. ^^^

What little silver I have was bought long after we stocked up on food, water, guns & ammo. The metals were the last on my list of things to buy, after the essentials were taken care of first.

 

[CarmelHP]

Very good question. A lot of collector coins are stamped 99.99% pure, but that's only describing their plating. They're still mostly nickel or tungstun or even lead if they're really cheap collector coins.

Coins of known value will still be valuable. Swiss Franks, American Double Eagles, any pre 1933 gold or silver coin, was actually worth its weight in gold or silver and was in circulation, prior to the confiscation.

Also pre '33 silver and gold bars or ingots are worth their weight, as they were also considered to be legal tender for dept, both public and private. In fact, government contracts used to be paid with gold and silver ingots in many instances. I digress...

Anything else is sketchy at best.

I would tend away from commercial rounds or pre-'33 coins. The commercial rounds could be issued by anyone and unless you have an assayer are of unknown quality. The pre-'33 coins are priced far in excess of bullion value due to numismatic interest. Bullion coins like the Eagle or Maple Leaf would be the most recognizable and trustworthy, and most closely priced to bullion value.

 

[bigus_D]

Bullion coins like the Eagle or Maple Leaf would be the most recognizable and trustworthy, and most closely priced to bullion value.

Where does one purchase these?

 

[Stschil]

Where does one purchase these?

Try Anthony's Coins it's located on the west side IIRC.



As far as rounds go, I believe that APMEX rounds are fairly highly respected and recognized. Also, APMEX promises to buy back any that you purchase at current spot price if you decide to sell.