Investing in Gold & Silver?

[Barefootsies]

I recall a number of posts on this over the past few years. A lot of people investing in buying gold, as they were waiting for the Mayans or other Doom Day stuff.

- Where do you buy your gold?
- Are you buying 1 or 10 oz. blocks of this stuff?
- How do you know it's pure? Documentation?
- Where are you storing this stuff? In a lock box at the bank?
- Do you have a Brinks truck deliver this to you house?

[greg80]

It has nothing to do with Mayans and dooms day. Gold and silver are a store of wealth. Goverment is printing out money and making peoples savings worth less. Gold is a way to keep those savings in a hard asset. It is a hedge against inflation and covers you in a catastrophic event, such as war or complete devaluation of a currency.

There are plenty of reputabe dealers out there. Best is to go with standard good delivery bars or coins from reputable mints, such as US, Canadian, Austrian, Australian...

[Slappin Fish]

When it was at $45 the crazies had silver at $200 by 2012, unfortunately for them it's more than 20% down at $35

[Matyko]

I've heard that there are better metals to invest in:
http://www.lme.com/

[Chris]

i buy from qualitysilverbullion.com i feel that their premium is a bit high but i have never had a problem with their service and they produce a great product.

I only buy silver from them tho ... i used to buy 10oz+ larger silver but i decided to have most of that converted into rounds and thats what i buy now.

I invest 10% of my monthly income into silver and every other month i buy 2-3 ounces of gold and i buy that locally at a coin shop

[Barefootsies]

Originally Posted by greg80

It is a hedge against inflation and covers you in a catastrophic event, such as war or complete devaluation of a currency.

Indeed.

http://www.imdb.com/title/tt2325908/

Originally Posted by greg80

There are plenty of reputabe dealers out there. Best is to go with standard good delivery bars or coins from reputable mints, such as US, Canadian, Austrian, Australian...

It looks like a 1 ounce gold bar is around $1800.00. You can find some selling 10 - 100 ounce I guess. I guess if you buy the larger amounts, they said you save in some way over the smaller bars. The term escapes me atthe moment. Someone had told me that if you get a bar large enough, they are somehow tracked by the IRS. Not that I care one way or the other. I guess it's just amusing to see the government or "big brother" always has their finger in y'er cornhole.

[tony286]

Originally Posted by greg80

It has nothing to do with Mayans and dooms day. Gold and silver are a store of wealth. Goverment is printing out money and making peoples savings worth less. Gold is a way to keep those savings in a hard asset. It is a hedge against inflation and covers you in a catastrophic event, such as war or complete devaluation of a currency.

Actually that happens what you need is guns, bullets and canned goods. Gold wont mean shit.

[Chris]

Also dont buy "german silver" and never buy anything from china

[AllAboutCams]

but where do you keep it, its a bit risky keeping it in your house even in a safe

[Chris]

Originally Posted by AllAboutCams

but where do you keep it, its a bit risky keeping it in your house even in a safe

i have it just in a safe in my house... i agree it could be in a safer place like a safety deposit box in a bank

[Barefootsies]

Originally Posted by tony286

Actually that happens what you need is guns, bullets and canned goods. Gold wont mean shit.

I believe those investing in gold are assuming the world does not dissolve into pure chaos.

[greg80]

Originally Posted by tony286

Actually that happens what you need is guns, bullets and canned goods. Gold wont mean shit.

Try putting few hundred thousand euros into guns and canned goods. I agree you need that, but as a store of wealth I am looking into prime realestate, gold and silver.

[tony286]

Originally Posted by Barefootsies

I believe those investing in gold are assuming the world does not dissolve into pure chaos.

Yeah. The currency becomes useless it wont be a orderly change to gold and silver for commerce.

[greg80]

Any gold or silver bars or coins listed here are standard, guaranteed and very liquid (sellable): https://online.kitco.com/bullion/completelist_USD.html

[greg80]

Originally Posted by tony286

Yeah. The currency becomes useless it wont be a orderly change to gold and silver for commerce.

You don't understand how a hyperinflation looks like. I went through one it wasn't bloody and people didn't riot. Money looses value, for example an ounce of gold is 1800 today and a can of tuna is $5. In case of hyperinflation gold would be $5400 and tuna would be $15. You can always sell some gold for the inflated currency and buy stuff. If you keep all your savings in money you will loose a lot, while gold stores the value.

That is until some new currency or order comes. Than you can simply change your gold into that.

[Barefootsies]

Originally Posted by tony286

Yeah. The currency becomes useless it wont be a orderly change to gold and silver for commerce.

Indeed. However, I believe the end goal here is the invest in something that would retain it's "value" should the economy go to shit. As we say in 2008, you can't invest in your house to hold it's value, or stock market. If the fiat currency system collapses, people will need to go back to the gold standard.

As the documentary link I posted (available to watch on NetFlix) has cited... open a history book. All currencies who have tried fiat have eventually had to go back to being backed by gold/metals at some point. They have always collapsed.

"those who do not know their history, are bound to repeat it".

[grumpy]

Originally Posted by greg80

It has nothing to do with Mayans and dooms day. Gold and silver are a store of wealth. Goverment is printing out money and making peoples savings worth less. Gold is a way to keep those savings in a hard asset. It is a hedge against inflation and covers you in a catastrophic event, such as war or complete devaluation of a currency.

There are plenty of reputabe dealers out there. Best is to go with standard good delivery bars or coins from reputable mints, such as US, Canadian, Austrian, Australian...

You better have some food laying around. I have potatoes, you have gold. Lets make soup.

[scuba steve]

Originally Posted by Chris

Also dont buy "german silver" and never buy anything from china

german silver is nickel and zinc that looks like sterling. its big on the internet

i mean anywhere you go you can get ripped off. i know he purchases his online, i have a coin dealer about an hour away that lets me call in my order and he ships it to me. whats nice is repeat customer so i usually get a better deal on the spot and he has a great rep.

find someone reputable and go nuts. even if there isn't a big apocalypse, most likely in 20-30 years your investment has a nice return

[Barefootsies]

Originally Posted by greg80

Any gold or silver bars or coins listed here are standard, guaranteed and very liquid (sellable): https://online.kitco.com/bullion/completelist_USD.html

[AllAboutCams]

so what should i buy first coins or bar / gold or silver

[sperbonzo]

Originally Posted by greg80

You don't understand how a hyperinflation looks like. I went through one it wasn't bloody and people didn't riot. Money looses value, for example an ounce of gold is 1800 today and a can of tuna is $5. In case of hyperinflation gold would be $5400 and tuna would be $15. You can always sell some gold for the inflated currency and buy stuff. If you keep all your savings in money you will loose a lot, while gold stores the value.

That is until some new currency or order comes. Than you can simply change your gold into that.

This.... ^^^




.

[scuba steve]

Originally Posted by AllAboutCams

so what should i buy first coins or bar / gold or silver

american eagle rounds, they are pure, easily tradeable and have a high demand.

you'll hear a lot of people say get the quarters/half dollars that are 90% pure or morgan dollars that have value beyond the silver. stuff is fine but if you want to invest in silver, get easy, pure silver. no one gives a fuck if your silver coin is 100 years old or last years, just how much silver is in it

[greg80]

Originally Posted by AllAboutCams

so what should i buy first coins or bar / gold or silver

I would buy American gold and silver eagle coins if I would live in US (1 oz rounds). Gold or silver maple leaf coins if in Canada. I choose Austrian Philharmonic 1oz here in EU. Most known and smallest premium over spot price here in EU.

[ParkLife]

American or Canadian gold coins, beter yet old ones with collectible value.

Originally Posted by AllAboutCams

so what should i buy first coins or bar / gold or silver

[facialfreak]

Originally Posted by Chris

i have it just in a safe in my house... i agree it could be in a safer place like a safety deposit box in a bank

ARE YOU FUCKING KIDDING ME???

Under your mattress is a safer place than a safe deposit box!!!

You are buying precious metals as a hedge against The banks, The Fed, and fiat currencies in general ...

If you store your precious metals in the very place you are protecting your wealth from, you are just BEGGING them to steal it from you, if (when) the economy does collapse, and the US govt. makes owning bullion ILLEGAL - which they have done in the past, and will do again!!

NEVER entrust anybody else to store your precious metals for you!!
ALWAYS take delivery of it, and store it between your walls if you have to!

IF YOU CAN'T HOLD IT -- YOU DON'T OWN IT!!!

[2012]

Originally Posted by Chris

i agree it could be in a safer place like a safety deposit box in a bank

[greg80]

Originally Posted by ParkLife

American or Canadian gold coins, beter yet old ones with collectible value.

NO! You do not want old coins with numismatic value. That is crazy, unles you are a collector and absolutly know what you are doing. You want pure gold in recognised coins/bars with as little premium over spot price as possible.

[DWB]

Originally Posted by Barefootsies

I recall a number of posts on this over the past few years. A lot of people investing in buying gold, as they were waiting for the Mayans or other Doom Day stuff.

- Where do you buy your gold?
- Are you buying 1 or 10 oz. blocks of this stuff?
- How do you know it's pure? Documentation?
- Where are you storing this stuff? In a lock box at the bank?
- Do you have a Brinks truck deliver this to you house?

Depends on what your purpose for buying it is.

Do you want to hedge against inflation and the inevitable currency collapse? Are you trying to short it and profit from the price fluctuation? Do you want to go long and keep it for old age, where it will surly be worth a shit load? Or do you just want to have some holdings you can easily trade with and sell for when the dollar does finally falls on its face?

One thing about keeping it in a bank... when the bank runs eventually happen, they will be locking the bank doors and whatever you have inside the vault, you will not be able to access.

Also, if by some chance there is another gold confiscation like in the past, you would be required to give it up. So you really need to think your storage through in every detail if you want to keep it should something like that happen again. Doubt it will, but you don't want to get caught with your pants down if it did.

Originally Posted by greg80

It has nothing to do with Mayans and dooms day. Gold and silver are a store of wealth. Goverment is printing out money and making peoples savings worth less. Gold is a way to keep those savings in a hard asset. It is a hedge against inflation and covers you in a catastrophic event, such as war or complete devaluation of a currency.

Beat me to it, and well said.

When the Euro and Dollar tank, those holding it will literally have nothing. Yet the price of gold and silver will not drop with them. Of course their price fluctuates, as all commodities do, but you will own a hard asset, which is more valuable than any piece of paper The Fed creates and will eventually be worthless.

Originally Posted by tony286

Actually that happens what you need is guns, bullets and canned goods. Gold wont mean shit.

History says otherwise. Everything would be used for barter, including gold and silver. If you look back to the Argentina crash, gold and silver were widely used for trade and held their value, as they always have in history. However, jewelry and coins were the easiest to trade. Not bullion. But people buying bullion are not buying it to barter with. In a collapse situation, people will barter with ANYTHING of value. Bullets, smokes, weapons, coffee, and anything else they need / want. There are even stories of guys trading their wives for sexual services in some countries during hard times.