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Old 08-20-2012, 11:48 PM
tonystark tonystark is offline
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Please provide any suggestions regarding investing in physical gold/silver

Looking for something to take the dollars place should the currency crash

Best,
TS
Old 08-20-2012, 11:58 PM
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Hard Assets:
Real Estate
Land
Gold
Silver
Firearms
Ammo

Almost ALL hold their value incredibly well.
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Old 08-21-2012, 12:16 AM
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Quote:
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Please provide any suggestions regarding investing in physical gold/silver
Read every thread in this subforum. Come back with questions you may have.
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Old 08-21-2012, 01:35 AM
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Tulips, lots of tulips!
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Old 08-21-2012, 04:39 AM
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Quote:
Originally Posted by tonystark View Post
Please provide any suggestions regarding investing in physical gold/silver

Looking for something to take the dollars place should the currency crash

Best,
TS

One suggestion, if you want to make a small fortune with PMs, start with a big fortune. Hey-O! ...
__________________
tailwinds...

Disclaimer: The information I provide is my unaffiliated opinion and not reliable as financial advice. Past performance guarantees SHTF.
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Old 08-21-2012, 08:11 AM
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If you want to play with pm's, you have to learn the numbers and how to figure the pm content of an item. If you want just to buy some pm's try Jack Hunt Coins, Kitco, or any other of the dealers referred to here.
Old 08-21-2012, 08:21 AM
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This helps a bunch when dealing with non bullion coins. Note the bar with "gold coin values" and "silver coin values".
http://www.coinflation.com/
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Old 08-21-2012, 10:17 AM
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I like Gold, Silver, Colored Diamonds......and I like guns to manage theft risk.
Old 08-21-2012, 10:25 AM
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Quote:
Originally Posted by tonystark View Post
Please provide any suggestions regarding investing in physical gold/silver

Looking for something to take the dollars place should the currency crash

Best,
TS
just buy a $1,000. face bag of junk silver to barter for bread and eggs and such.
Old 08-21-2012, 10:31 AM
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Cash. Boatloads of cash so you can sweep in and buy up tons of stock for pennies on the dollar. You could net several hundred % in 1 or 2 quarters.
Old 08-21-2012, 05:28 PM
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I would not invest in PM's at this time. At their current price, they are more of a wealth insurance policy.

Like in the 80's, gold shot up and gradually fell until 2001. I am waiting for the drop before I invest. If I feel the need for security, I will buy at that time.
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Old 08-21-2012, 07:19 PM
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I agree with maat. People who bought silver last year when it was almost $50 an ounce lost money. Buy low and sell high. Now is not the time to buy. I haven't touched silver since it went higher than 11 an ounce. I bought low. Wait for the dip and buy.
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Old 08-21-2012, 07:40 PM
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Dip? From the 49's to the mid 20's is what exactly? If silver falls to 15 will you still advise to sit and wait for a dip?
Old 08-22-2012, 01:54 AM
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<$18/ounce is when *I* personally would buy silver again.
Old 08-22-2012, 09:15 PM
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I regret not buying when it was at 16. At this point, I would consider it at under 20 depending on the economic outlook at the time.
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Old 08-23-2012, 11:01 PM
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Quote:
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I would not invest in PM's at this time. At their current price, they are more of a wealth insurance policy.
+1 on your second comment, I don't know that I could ever consider precious metals an investment.

It would take lots of time waiting. Precious metals sit at stable prices for decade(s) on end, only fluctuating tiny amounts. You will never collect a dividend or interest on PM's. If you own more than you feel safe keeping on hand, you will probably need to pay someone to hold on to it for you.

Don't get me wrong, if any of you were one of the lucky ones who purchased gold in the 200-300 dollar range in the early 2000's, then sold when we hit $1900 a few years back, congratulations, my hat is off to you. Most of us didn't though.

OTOH, you are going to need to own large quantities to come out ahead as silver jumps up (or down) 50 cents, or gold up or down 7 or 8 dollars, to turn PM's into a revenue generating stream.

IMHO, PM's preserve wealth and provide a possible means to acquire items you were not able to prep for during a SHTF or an EOTWAWKI event. If you truely have a means to turn PM's into an investment for the average SURVIVALBOARDS.COM forum member, please share.
Old 08-23-2012, 11:14 PM
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The OP never stated whether he wanted to *make* money or simply preserve wealth.

If he wants to preserve wealth while also having a currency that literally knows no bounds - PM's are the ticket.

Those that are recommending NOT investing in precious metals don't seem to understand the fundamentals.

Fundamentals Include:
1) Supply vs Demand/Debt/Manufacturing
2) Quantitative Easing (QE)
3) Inflation
4) DCA (Dollar Cost Average)

As other posters have already stated. If you are looking to make a ton of money in PM's, you likely never will. But, its a great asset to own and diversify in, and will act as a currency should the need for that ever arise.
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Old 08-24-2012, 07:38 AM
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IMHO you shouldn't even consider gold and silver until you are well stocked in food, medicine, and other physical assets. You don't have to figure out how to barter for or buy the asset without currency if you already have the asset. Think about what you would want to use the gold for, then use today's currency to do that. No need for gold unless you are already VERY well stocked with redundancy.
Old 08-24-2012, 08:12 AM
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Your statement here sums things up my viewpoint on PM as a prep item completely.

The fact that we are all prepping puts us leaps and bounds ahead of 99% of the population.

I frequently see comments on PM stating not to start till you have all the beans, bullets and band-aids a person will ever needs.

I agree with that to a point, but I think that PM are a critical part of your prepping supplies. If you have lived through a Katrina type event or worse, and had everything you needed from your preps, or didn't run short of an item prematurely, then my hat is off to you, you are much more prepared then I.

Quote:
Originally Posted by Groovy Mike View Post
Think about what you would want to use the gold for, then use today's currency to do that.
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Old 08-24-2012, 08:38 AM
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a store of wealth. Dollar goes kaput, you better have something the world wants in exchange for items you need. You cannot eat Gold or Silver, nor can you eat Ammo or Weapons . But you may be able to use the pm.s to get items you need. Some folks have them, some folks don't. Hope we never have to find out who is right....
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