It would depend on what I paid for that coin [emoji4]
The logic for buying gold/silver?
- Thread starter Peter M. Eick
- Start date
I don't see precious metals being of any use when/if the economy collapses.
IF the SHTF ever happens I want to be invested in:
Good Whiskey
Cigarettes
Ammunition
Things people will really want and will trade for.........just have to be very careful who you trade the ammunition to!!!
IF the SHTF ever happens I want to be invested in:
Good Whiskey
Cigarettes
Ammunition
Things people will really want and will trade for.........just have to be very careful who you trade the ammunition to!!!
Harrison
US Veteran
You can put it in a coffee can wrapped in plastic and bury it someplace hard to find. Then the local/state/federal government cannot tax it on a yearly basis, or slicky it away from you. It is a tangible asset. When TEOTWAWKI occurrs gold/silver and ammo may be the only valuable currency. 
occurrs gold/silver and ammo may be the only valuable currency. 
Ματθιας;138109622 said:
Which would be more valuable today, a 1920 $20 gold coin or $20 of IBM stock bought in 1920?
BobC357
Member
Buy low, sell high.
NEVER buy on margin.
Who will be your dealer/broker?
Capital gains has long term and short term rates. Long term are less.
Then, there are commission costs to consider.
Are you taking possession or paying storage fees for bullion?
How do you want to purchase? Coins, bars, commemoratives, etc.?
I've traded since the late '70s. There are many considerations to keep in mind. American Eagle (silver or gold) coins have a premium associated with them but, if you buy a lot (uncirculated box), you can save considerably. Bars are cheaper but harder to exchange.
Silver is poised for a drop as it has negative pressure on it now. I'm waiting for below $18 to consider a buy position. It broke below $19 already. Watch the charts. Only the market knows what it is going to do. Just buy when you're comfortable and take possession. Anything else is gambling.
NEVER buy on margin.
Who will be your dealer/broker?
Capital gains has long term and short term rates. Long term are less.
Then, there are commission costs to consider.
Are you taking possession or paying storage fees for bullion?
How do you want to purchase? Coins, bars, commemoratives, etc.?
I've traded since the late '70s. There are many considerations to keep in mind. American Eagle (silver or gold) coins have a premium associated with them but, if you buy a lot (uncirculated box), you can save considerably. Bars are cheaper but harder to exchange.
Silver is poised for a drop as it has negative pressure on it now. I'm waiting for below $18 to consider a buy position. It broke below $19 already. Watch the charts. Only the market knows what it is going to do. Just buy when you're comfortable and take possession. Anything else is gambling.
I'm not talking about stocks I'm talking about currency.
I don't know about you, but I don't consider stock certificates currency. Unlike cash/coins I can't buy a meal with a stock certificate.
I don't buy gold at 1300 to 1400 hundred an ounce or whatever it has the potential to drop too much silver is I think a safer hedge against the dollar crashing it is used by industry and jewelry and costs 19 to 20 dollars a ounce to produce so if the market gets flooded the silver mines will slow production until the supply lessons thus keeping the price from tanking I don't buy silver to get Rich I buy it to keep from being broke if we have an economic collapse
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mrrick
Member
Someone mentioned Whiskey and cigarettes and they were spot on.
I was in Iran for the '78/79 revolution and here was what was in demand as everything was on strike and nothing was readily available:
Cigarettes
Vodka (the revolutionaries smashed every bottle they could find, the streets of Tehran were running with alcohol including the expensive wine cellars of the Hilton and Intercon).
fuel: gasoline, propane and heating oil, it's cold in Iran in the winter.
rice
cooking oil
dried beans and pulses
Gold could be readily exchanged for anything.
I've spent most of my adult life in Asia and they have a very different attitude toward gold. After thousands of years of revolutions, warlords, invasions, and general mayhem, nobody trusts paper money or governments. All discretionary wealth is put in gold. I even have this 17th century 100 pound bronze container made especially to stuff your gold and jewels in, sealed with a wax plug to bury somewhere in the fields when word that Genghis Khan is on the way hits your village.
In the back country of Afghanistan the medium of exchange is bullets. You gave the shop keeper some rifle bullets (.303 British), he tried chambering them in his collection of rifles behind the counter, he gave you change in pistol bullets (Webley, tokerev) which you tried chambering in your collection of pistols, one in a boot, one in a holster, and another in your pack.
I was in Iran for the '78/79 revolution and here was what was in demand as everything was on strike and nothing was readily available:
Cigarettes
Vodka (the revolutionaries smashed every bottle they could find, the streets of Tehran were running with alcohol including the expensive wine cellars of the Hilton and Intercon).
fuel: gasoline, propane and heating oil, it's cold in Iran in the winter.
rice
cooking oil
dried beans and pulses
Gold could be readily exchanged for anything.
I've spent most of my adult life in Asia and they have a very different attitude toward gold. After thousands of years of revolutions, warlords, invasions, and general mayhem, nobody trusts paper money or governments. All discretionary wealth is put in gold. I even have this 17th century 100 pound bronze container made especially to stuff your gold and jewels in, sealed with a wax plug to bury somewhere in the fields when word that Genghis Khan is on the way hits your village.
In the back country of Afghanistan the medium of exchange is bullets. You gave the shop keeper some rifle bullets (.303 British), he tried chambering them in his collection of rifles behind the counter, he gave you change in pistol bullets (Webley, tokerev) which you tried chambering in your collection of pistols, one in a boot, one in a holster, and another in your pack.
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ChattanoogaPhil
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Cries of doom... Right.
A year and a half ago this thread was created and I still haven't seen the "logic" for gold to move higher other than doom or black helicopter theory of all the gold gone missing at Ft Knox.
QE is slowing down. Dollar strengthening. Oil production on the rise. Economy and wages puttering along. Where is the catalyst for gold to rise other than ME turmoil or some apocalyptic event?
A year and a half ago this thread was created and I still haven't seen the "logic" for gold to move higher other than doom or black helicopter theory of all the gold gone missing at Ft Knox.
QE is slowing down. Dollar strengthening. Oil production on the rise. Economy and wages puttering along. Where is the catalyst for gold to rise other than ME turmoil or some apocalyptic event?
Well....Since I can't go to the store and buy a loaf of bread with a gold bar, or gold coin from Switzerland.. Gold or silver for the end of days, makes me wonder....
If you can't eat it, can't spend it...or make love to it....then what good is it?????
WuzzFuzz
If you can't eat it, can't spend it...or make love to it....then what good is it?????
WuzzFuzz
THE PILGRIM
Member
venomballistics
Member
It's something I think is something of a scam.
The theory is that in the event of political, social, financial, or infrastructure collapse, you will be financially secure.
It has no nutritional, medicinal, nor even structural value. When the chips are down, my can of beans, and box of buckshot will be worth more than all the precious metals you have.
The theory is that in the event of political, social, financial, or infrastructure collapse, you will be financially secure.
It has no nutritional, medicinal, nor even structural value. When the chips are down, my can of beans, and box of buckshot will be worth more than all the precious metals you have.
labworm
US Veteran
I use to attend the Coin Show held in Boston 3 times a year all the time.
In 1985 I purchased 1 oz Gold Pandas and different US Gold coins, at that time I believe that gold was in the $300.00 range.
Haven't purchased any until:
US Mint Gold Proof 1 OZ Buffalo
Purchased 6/10/10 $1514.95
The coin was just too beautiful to resist.
But I think I am all set with my gold buying, someone is going to have a lot of fun with it.
In 1985 I purchased 1 oz Gold Pandas and different US Gold coins, at that time I believe that gold was in the $300.00 range.
Haven't purchased any until:
US Mint Gold Proof 1 OZ Buffalo
Purchased 6/10/10 $1514.95
The coin was just too beautiful to resist.
But I think I am all set with my gold buying, someone is going to have a lot of fun with it.
Anyone who bought gold when this thread started in early 2013 is probably not real thrilled about that purchase about now. Gold is pretty volatile stuff these days.
I bought several ounces back in the '80s in the 300-400 price range, but it didn't do anything and I kind of lost interest. It's been sitting in a safety deposit box ever since. In roughly 2008 or 9 I bought a couple more ounces at roughly $900, although it killed me to do it. Then it shot up to nearly $2K, but today it sits at $1235. I haven't bought anymore but am thinking that if it drops to between $1100 and 1000 an ounce I might pick up a little more. I think it's good to have a little as a sort of rainy-day fund.
I bought several ounces back in the '80s in the 300-400 price range, but it didn't do anything and I kind of lost interest. It's been sitting in a safety deposit box ever since. In roughly 2008 or 9 I bought a couple more ounces at roughly $900, although it killed me to do it. Then it shot up to nearly $2K, but today it sits at $1235. I haven't bought anymore but am thinking that if it drops to between $1100 and 1000 an ounce I might pick up a little more. I think it's good to have a little as a sort of rainy-day fund.
Damn Yankee
Member
I thought everyone knew the three most important things to have when the SHTF are,
Water
Toilet paper
Ammo.
Water
Toilet paper
Ammo.
It's not a good idea to buy high...
I know people that scrambled to buy silver when the Hunt brothers cornered the market and inflated the price thinking that it was going to rise further in value. When the Hunt brothers were found out the price dropped back and people had silver bullion worth pennies on the dollar. Though silver is a precious metal, it is also an industrial commodity.
I know people that scrambled to buy silver when the Hunt brothers cornered the market and inflated the price thinking that it was going to rise further in value. When the Hunt brothers were found out the price dropped back and people had silver bullion worth pennies on the dollar. Though silver is a precious metal, it is also an industrial commodity.
I like silver. Best time to buy is when everyone else hates it.
BobC357
Member
Silver broke down below $18 today. Still a some negative pressure. Current spot $17.81
Maybe "he who had the lead (Pb), will take the gold (Au)"?
ChattanoogaPhil
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Willian Devane with Rosland Capital... Are you prepared for the apocalypse? You need a chunk of metal.
Maybe I should get a reverse mortgage from Fred Thompson to send more money to Devane?
Maybe I should get a reverse mortgage from Fred Thompson to send more money to Devane?
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chaparrito
Member
You can't eat gold.
ChattanoogaPhil
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Since the Fed has announced an end to quantitative easing things don't look any brighter as gold plunges to a four year low. I'd be a buyer at $700. 
Well without reading all in this thread let me ask a simple question.
What do the companies that sell all this gold and silver invest in?
If they sell all their stock (quite unlikely) they then have a lot of currencies of all types what do they do with it!
What do the companies that sell all this gold and silver invest in?
If they sell all their stock (quite unlikely) they then have a lot of currencies of all types what do they do with it!
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ChattanoogaPhil
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With the brokerage fees they get from pushing gold to cab drivers and soccer moms, they use those funds to sell short gold. As gold continues to plummet, William Devane will be telling you it's a deal of a lifetime to buy now... don't wait! And so the cycle goes...
Interesting answer THANKS.
I have been playing the stock market for over 25 years so I do trades and know that timing is everything. You have to be in front, not even or worse yet behind the curve. I was sort of wondering what commodity the gold brokers invested in, you would not believe some of the repossesses I have got.(I like yours)
They time, they get rich/richer and the worry worts get poorer, sounds logical!
just jim
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Who sets the price on gold? Those are the guys who will make money on it. Gold seems to be an insurance plan for those in fear of a monetary collapse. If it all goes down gold is the last thing I would want, at least I could build a fire with worthless paper. Lol lol
rburg
Member
You can't eat gold, but you can hang it on your wife or GF and make them very happy. Similarly, you can't eat silver but you can eat with it. So you spend your money on top notch silverware that's often selling at scrap prices. Then you put away the stainless steel that looks ugly and begin eating on the silverware. Again, the wife is smiling because she has the most beautiful table setup.
Do as you please, because I'm going to.
Do as you please, because I'm going to.
alde
Member
Hi quality guns seem to be a more stable way to protect against a falling dollar. I have never sold one for less than I paid for it. They don't roller coaster like gold and silver.
Pilgrim
US Veteran
on the current tv show 'Z-Nation' the characters went to a 'gun show'. They wanted to know what the price of admission was since the dollar was useless in an Apocalyptic nation.
The price of admission was 7 rounds of ammo...not gold.
The price of admission was 7 rounds of ammo...not gold.
ChattanoogaPhil
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NYlakesider; said:
People will say the darndest things about gold. Everything from all the gold is missing at FT Knox to government conspiracies... Gold bugs can be very entertaining.
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