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Fisherman
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I am considering buying some gold. If the Economy completly collapses and paper $$ isn't worth anything. Gold would be good. I already save all the gold nuggets and flakes I find while Recreational Prospecting ( sluicing, panning) but what is the best way to go about purchasing gold? Coins, bars, jewelry, nuggets? Would like to know what other people collect in forms of gold.
Thanks Trotline
 

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I think it a smart idea, we've been keeping silver (old coins) for sometime now. As far as where to buy gold from I'm not sure. I've actually been lookin at yard sells for gold jewlery and once again old silver coins to stash. Sorry the post wasn't much help, but I'm interested to find out where as well.
 

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I think gold is sketchy, because it is worth too much. If you really were in a barter world, would you want to buy things in 1 ounce gold increments? Or even 1/10 ounce? And don't think you'll just whittle a piece off--most folks wouldn't be sophisticated enough to measure the mass and know it's real. You need the "seal" to establish its bona fides.

Silver would be better, because it comes in smaller units of value.

You can buy "melt silver" in bulk. By "melt silver" I mean US silver coins in heavily circulated condition. By "bulk," I mean in $10,000 dollar increments! I'm not rich enough to participate.

And a small quantity of gold or silver won't get you very far.

So...I'll probably just buy .22 LR ammo. You can buy it in 5,000 lot blocks for $200 from Ammoman.com. You can always have fun with it. Keep it inside the air conditioned house and it will store for decades. And if there ever were a barter economy, people would gladly trade for it. And you can split up the case to determine units of value--that's worth 50 rounds, that's worth ten rounds, etc.
 

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I think that gold bars bigger than 1oz would be good for longterm wealth, hoping that there would be some sort of economy with a currency later. I think as long as their are people there will be some form of fiat currency and gold will always be considered a form of wealth. 1oz gold coins I'd consider as banked money that I'd sell periodically for cash to get through a month or 3 while silver coins I'd use for barter, or again, sell for short term cash. Junk jewellry for straight barter.

Preps would come first.
 

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Hmmm, pretty much a personal choice, up to you. Buy what you like.

I think you are right, In the long run, or maybe the not so long run, the dollar will be worth much less, possibly worthless.

For me, I like coins, S.A. Kugerands, Canadian Maple Leafs or US gold Eagles, coins cost a bit more due to the minting charge, but they are easily identifiable. Almost anyone would recognize the gold coins for what they are and how much gold was there. If I was buying a gold bar, I would want proof of purity, in a post SHTF scenario, maybe a do a scratch test. I don't think I would believe a piece of paper that could have been printed by anyone as proof.

I would avoid most jewelry, watches, rings etc, consider someone offering you a "gold" watch in trade, after TEOTWAWKI, it may not even run anymore , but the guy says its worth a bunch, how much gold is there? Have any idea what a gold wedding band weighs? Maybe you see my point. With a coin, like a US eagle, it says, 1 oz, or 1/10 oz etc.
 

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Hmm, I assumed you just wanted our opinion about what form to purchase gold. From the original post. Looks like we are drifting, to silver, so I will too.

If your question was about silver I have to say, US silver eagles would be my first choice, as they are 1 0Z of pure silver. The big green plastic mint boxes of (500) silver eagles looks and feels VERY much like real money, it is heavy.

Junk silver (old coins) are ok, I can compute how many dimes would make 1 OZ.

The real problem for either gold or silver, is there is none available at the moment.
 

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True. I finally was able to get some silver maples today for the first time in over a month. You can get them on ebay but I'd rather go in and buy with cash.

The nice thing about the 1oz coins is that you can't tamper with them. I've got some silver bars that look like someone took a grinder to the corners.
 

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APMEX ran out early this month, bummer.

I really don't understand why the spot price is staying sooo low. All the silver on the market is being snatched up, more like panic buying. We are being charged close to a 50 percent premium above spot to get the stuff. Hmmm, here is where you can insert your own conspiracy theory. If demand is so high then the spot price should go up and these premiums above spot should go down. My opinion.
 
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