Yes, you're correct, but then in a true collapse of the economy;cash will be worthless, and so will any other form of currency.
But that's a mighty big IF. And I just don't see the economy going down that far fast enough.
Gold and Silver
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But that's a mighty big IF. And I just don't see the economy going down that far fast enough.
GypsmJim
Single-Sixer
- Joined
- Mar 19, 2011
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- 439
I thought about buying gold and silver awhile back, so I did some research. First off, with fees and commissions for buying AND selling, the price would have to go up 20% just to break even.
My purpose was not to invest (i.e., make a profit), but rather to have something of value when the SHTF. But then again, in that scenario, what value would it have?
My purpose was not to invest (i.e., make a profit), but rather to have something of value when the SHTF. But then again, in that scenario, what value would it have?
Star43
Buckeye
To me it's not about making a profit, it's about if the dollar went completely down and became worthless....that's where silver comes in. NOT gold. With silver and small increments of silver you can buy or barter for any basic needs. It was mentioned earlier about trying to buy a loaf of bread with gold. Very true. That won't work with gold. That is why I don't see a need for any gold. But silver will always have a place as being real money......and don't pay high premiums for the fancy American Eagles. They are pretty to look at but when the poop hits the fan, Silver will be the way to go. Buy silver at little or no premium and that is the true money to have if necessary. JMO.
Precious metals?? (at COSTCO no less??). I've never really understood how hoarding silver and gold made a profit. You have to sell something to make a profit otherwise, it's just an asset that increases or decreases in value. If things get tough, how are you going to sell the stuff if you don't have it in hand and if you have it in hand, how do you expect to find a buyer who won't rob you instead of pay you?
My Cousin is an auctioneer at a coin auction in Iowa. He reports the silver coin market is flat except for the rare collector type specimens.
Pathfinder36
Bearcat
What's lead worth these days? I still have a couple hundred pounds of it.
Star43
Buckeye
Yes, Ammo is a must for the self defense of you and your family. A definite must.....but don't trade your ammo.....for bartering and everyday needs, if the time came.....small increments of silver is the to way to go. Even today, there are a couple of places I am told, in LA, that the shop keepers will gladly take your silver in exchange for their groceries or other goods. They go by the "spot price" and go from there....and gladly do it !!!
I have been buying and selling physical metals for years. There are 3 options for you:
1) go to your local jewelry store or buyer. They will try for a 15-20% under spot, but you can haggle most of them down to maybe 10% under, because they will re-sell it and get profit from the other end.
2) Take it to the closest pawn shop. They will give you closest to spot- maybe 5-7 % under, maybe right at spot.
3) These days if you have the time, E-Bay is where the big money is at. Not sure if it's preppers or just fear in general, but people are PAYING ( Not just asking) 60, 70, 80,%- or even double. Example: Valcambi silver combi-bars. These are 100 gram bars that can be broken into 1 gram bars, each stamped. Today, 1 gram of silver spot price is 78 cents, making the bar worth $78.00. Average sale price is $140-$150. 1 oz gold bars aren't too bad, at around $2150, but smaller denominations like grams, which are at around 65.50 spot today go for $80 +. The small denominations are getting more popular for preppers ( to use as currency) as well as small investors, and are being price accordingly.
Hope that helps...
1) go to your local jewelry store or buyer. They will try for a 15-20% under spot, but you can haggle most of them down to maybe 10% under, because they will re-sell it and get profit from the other end.
2) Take it to the closest pawn shop. They will give you closest to spot- maybe 5-7 % under, maybe right at spot.
3) These days if you have the time, E-Bay is where the big money is at. Not sure if it's preppers or just fear in general, but people are PAYING ( Not just asking) 60, 70, 80,%- or even double. Example: Valcambi silver combi-bars. These are 100 gram bars that can be broken into 1 gram bars, each stamped. Today, 1 gram of silver spot price is 78 cents, making the bar worth $78.00. Average sale price is $140-$150. 1 oz gold bars aren't too bad, at around $2150, but smaller denominations like grams, which are at around 65.50 spot today go for $80 +. The small denominations are getting more popular for preppers ( to use as currency) as well as small investors, and are being price accordingly.
Hope that helps...
It's not really for profit- or at least it hasn't been. It used to be a hedge for inflation, so while a dollar's buying power went down, gold held it's value. If you sold it, you would get more dollars to make up for the paper's lesser value. However, at least in the last 3 years, gold and silver vendors have been charging super high premiums to the point where, one might never really get their money back. NOT a good time to buy at all. BTW- despite what the sellers say, being an actual coin does not really ass any real value to the metal, unless the coin is rare in it's own right.
Precious metals?? (at COSTCO no less??). I've never really understood how hoarding silver and gold made a profit. You have to sell something to make a profit otherwise, it's just an asset that increases or decreases in value. If things get tough, how are you going to sell the stuff if you don't have it in hand and if you have it in hand, how do you expect to find a buyer who won't rob you instead of pay you?
My Cousin is an auctioneer at a coin auction in Iowa. He reports the silver coin market is flat except for the rare collector type specimens.
Gold and silver stockpiling does make sense, but only under certain conditions:
1) An economic crash. If it is expected to get better in the short term, ( up to a year or so) these metals can still be used as currency. If longer term, then think about barter instead ( booze will probably become the number one barter material)
2) AFTER a very long time to the point where barter has become the norm, currency will eventually come back, for the same reason it was invented- convenience. Easier to work with and carry than wagon loads of heavy barter materials, yet can be exchanged for them. With no government in which to put any trust, it will be metal, not paper.
xtratoy
Buckeye
I've bought a few silver coins over the last 15 years . As of today that investment is upside down, worth less than i paid for it. And the cash i have on hand is basically worthless since what i would like to buy has been outlawed in my state or just unavailable. That and inflation makes it more expensive than i want to spend.
Boxhead
Blackhawk
Bullchit. I can sell my stocks/bonds, etc., in two days at most.
GasGuzzler
Hunter
Yet another topic no one should answer. Too many people watching to tell what you're doing.
GasGuzzler
Hunter
Why type in BOLD?
'I can sell my stocks/bonds, etc., in two days at most.'
Sell them for what? Paper money or a bank account that is equally worthless??
Sell them for what? Paper money or a bank account that is equally worthless??
Star43
Buckeye
Sure you can sell your stocks and bonds....now, when things are somewhat normal, but when it is SHTF time, good luck then trying to sell your stuff then with ALL the other people trying to do the same thing......at the same time.....good luck.
Why ask? If it irritates block me!
Joe Reilly
Single-Sixer
Why not?
Bad Barlow
Blackhawk
Bold lettering is regarded as shouting, if you're a shouter, go for it.
I couldn't care less, just FYI
What number is that in the official book of rules! I have often heard from scholars that ALL CAPS is considered as shouting in text form! Never heard that claim about bold type! Once I see it in the official book of rules, I'll still not really care!
What is this thread about again? I lost track.
