gjgalligan
Member
What happens to gold/sliver when the Fed switches to bitcoin and does away with cash?
Will anyone regret not buying gold at $2,270 ?
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YeshuaIsa53
Member
Lost my big gold wedding band, so I had best start digging. I could be rich.
.....Silver is a good buy now.
Time once again for my "cautionary tale for rational adults." Back in 1980 or '81 I was pulling in large $$$ building EPCOT for the Mouse. I was mostly out of my mind but did have bits of clarity between "parties." I went up to Orlando one day and purchased this brick for $720+$40 assay fee, total $760. At the time Disney (DIS) was $13/share so my $760 would get roughly 58 shares. Since then there have been 2 4for1 splits and a 3for1. Those 58 shares would be 2784 shares today and currently around $120/share worth about $334,000. Yeah I still have the silver (wow! tripled in value!) instead of spending it all on stripper's kid's braces but dang, a hard life lesson. Y'all go on up ahead without me, I'll catch up eventually. Joe
I regret not buying frozen concentrated orange juice futures before the crop report came out.
I wonder how Beeks is making out?
I wonder how Beeks is making out?
GypsmJim
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There are commissions to buy and commissions to sell. If the price stays the same, and you sell you will lose about 20%.
It looks like the end days are upon us. But how long? If it is true, and we are still here, could precious metals get us thru it?
Buy gold and silver for survival, not for profit.
If Armageddon comes upon us, gold and silver will be any person's salvation. Or, will it?
I told my wife I was going to invest part of our retirement savings on gold and silver. She said no way. I bought 2 ARs instead.
It looks like the end days are upon us. But how long? If it is true, and we are still here, could precious metals get us thru it?
Buy gold and silver for survival, not for profit.
If Armageddon comes upon us, gold and silver will be any person's salvation. Or, will it?
I told my wife I was going to invest part of our retirement savings on gold and silver. She said no way. I bought 2 ARs instead.
I can relate gold price rise to my 401K. I look back to 2013 and find that I have made almost 80% gain, while gold was 35%, so . . . Gold prices rose to $1700 back then.
I will state that there are people who wonder when the dollar will implode and hedge their investments with gold. I am not one of them and hope the dollar hangs on longer than I do. Might be a horse race!!
I will state that there are people who wonder when the dollar will implode and hedge their investments with gold. I am not one of them and hope the dollar hangs on longer than I do. Might be a horse race!!
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I was wondering about this a few short years ago when gold hit $1,000 an ounce. I stopped buying at $1,200.
I have a good friend that buys and sells Precious Metals (PM), he will buy gold and silver regardless of where the price sits, he buys for $100 under spot...regardless. It isn't necessarily about timing or buying low and selling high when it comes to PM, you are either interested or not. My timing was great on an insurance settlement where the money was a windfall, I did not need to pay off any credit cards or have any outstanding debts that needed taking care off. I had dabbled with the PM market and chased silver beyond a reasonable amount. You can probably do better in the stock market but you can't hold that money in your hand. Gold and Silver will always have a value relative to the economy. If the SHTF you would be able to buy a car or have your roof done with gold, using silver to buy a dozen eggs for a dime, that is if the dollar absolutely tanks. Otherwise Gold and Silver will continue to rise as they have over the years. It is a fools mission to chase the PM market, I have been there done that. There are seasonal times when Gold goes high because of weddings in India, they buy a ton of gold.
The last time I bought gold it was $600 an ounce, I could have invested that elsewhere but a three times increase is pretty sweet. Had I hung onto it instead of trading for stuff I didn't need when it doubled I would have something today.
In this part of the country you can still buy a new car with Gold and Silver, any purchase you make with PM is a tax free event, it is a trade not a purchase. I had a buddy that gave his employees a choice of getting paid in silver or check, those he paid in silver worked in trade. He eventually got scoped out by the IRS and state agencies but he had a good time while it lasted.
The last time I bought gold it was $600 an ounce, I could have invested that elsewhere but a three times increase is pretty sweet. Had I hung onto it instead of trading for stuff I didn't need when it doubled I would have something today.
In this part of the country you can still buy a new car with Gold and Silver, any purchase you make with PM is a tax free event, it is a trade not a purchase. I had a buddy that gave his employees a choice of getting paid in silver or check, those he paid in silver worked in trade. He eventually got scoped out by the IRS and state agencies but he had a good time while it lasted.
For me, it's hard to justify a one ounce Gold Eagle or Gold
Buffalo at that price. The last Gold Buffalo I bought early last
year was just a little over $2100.00 with the premium. I live
in Utah, and I have been buying 1 Utah Gold Backs in the
100 packs. A little more affordable for me, and legal tender in
the state.
Silver is a good buy now.
Hard pass on the gold backs. At $6.25 (current price) a piece, it equates to paying $6,250 an ounce. Even if you only paid $5, it still is $5,000 an ounce. I could understand buying one (single, not a pack of 100) for the novelty but that is all.
Spurdann
Member
Only time will tell.
I buy insurance on my car, house, and health. I hope never to need it but when I do it pays in spades.
I buy precious metals based on the gold/silver ratio, now is the time to buy silver. Yea it sucks cause gold is running like a scalded ape, I abhor discipline but still I buy silver.
When I look at how much money is being printed I take comfort in having tangibles even if I pay too much.
I have faith in God, family, and friends.
I buy insurance on my car, house, and health. I hope never to need it but when I do it pays in spades.
I buy precious metals based on the gold/silver ratio, now is the time to buy silver. Yea it sucks cause gold is running like a scalded ape, I abhor discipline but still I buy silver.
When I look at how much money is being printed I take comfort in having tangibles even if I pay too much.
I have faith in God, family, and friends.
The biggest problem with silver is it would be hard to carry it all if I decide to go on the lam.
I don't consider gold & silver to be investments, but as a hedge against the collapse of the dollar. 20 years ago that seemed like a ridiculous concern. Today...?
Greenbacks are a debt instrument. They represent the Fed's promise (and ability) to pay off its debt. The likelihood of that should be obvious.
I don't consider gold & silver to be investments, but as a hedge against the collapse of the dollar. 20 years ago that seemed like a ridiculous concern. Today...?
Greenbacks are a debt instrument. They represent the Fed's promise (and ability) to pay off its debt. The likelihood of that should be obvious.
My thinking is that beans and bullets will have more value than gold when the SHTF. But I've been told I'm dumb as a clam. Larry
Nope.
I am not a fan of silver and gold myself, or anything "man" values as precious really.
Not a fan of paper money either, and think that if the people in charge of such things (on all sides & worldwide) keep making bad decisions with our economy and money, that'll be worthless at some point too.
I prefer to invest in steel and lead.
The old adage of the 3 B's: Beans, Bandages, and Bullets.
As someone else said, you can't eat gold either...
To each their own. I like the idea of having tangible objects that benefit my day to day life.
I wouldn't turn down a gold mine if I stumbled onto one, but I don't willingly buy into it either as an investment. Like anything else, it clearly fluctuates. No promise of return on investment.
Also, any end of the world as we know it movie I can recall, no one seemed to care about gold that I can think of.
I am not a fan of silver and gold myself, or anything "man" values as precious really.
Not a fan of paper money either, and think that if the people in charge of such things (on all sides & worldwide) keep making bad decisions with our economy and money, that'll be worthless at some point too.
I prefer to invest in steel and lead.
The old adage of the 3 B's: Beans, Bandages, and Bullets.
As someone else said, you can't eat gold either...
To each their own. I like the idea of having tangible objects that benefit my day to day life.
I wouldn't turn down a gold mine if I stumbled onto one, but I don't willingly buy into it either as an investment. Like anything else, it clearly fluctuates. No promise of return on investment.
Also, any end of the world as we know it movie I can recall, no one seemed to care about gold that I can think of.
Me too. The buying and selling commissions will eat you alive........And....What's a metal bar when might need cash fast?
HOUSTON RICK
Member
I cannot eat gold or load it into any of my firearms. I imagine that lead will be the post apocalyptic metal of choice.
Well, I can say I won't. Never had any interest in buying gold as an investment, and very rarely as a trinket.
Seems to be a lot of assumptions that the purpose is to prep for a Walking Dead scenario. A repeat of a Weimar Republic or Rhodesia situation is much more likely.
Well, it's up $30 today.
Somebody paid attention in class. Joe
LVSteve
Member
Not me, but I do regret not buying gold in '98 when they were closing mines here in Nevada and gold dipped below $300/oz. Of course, I didn't know that the 2-3 year job I started in '97 would result in me still being here 25+ years later.
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Between the zombie apocalypse and the Weimar Republic there is probably a more probable outcome than those two extremes. Precious metals can be a good diversifier as they are a non-correlated asset. You don't have to buy physical gold. You can buy mining company shares or depository ETFs like GLD.
Think of it as a hedge against a market apocalypse...
Think of it as a hedge against a market apocalypse...
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FWIW, I understand the idea that PM's always "hold" their value relative to the cost of other goods.
But it seems to me that in a true ****F scenario, my meager collection of handguns, ammo, and reloading supplies will hold more immediate value than their weight in silver and gold.
From my perspective, a complete societal collapse seems the more likely thing to prepare for - rather than just an economic collapse.
Because if we experience an economic collapse, a complete societal collapse can't be far behind.
JMO and YMMV - act and invest accordingly...
But it seems to me that in a true ****F scenario, my meager collection of handguns, ammo, and reloading supplies will hold more immediate value than their weight in silver and gold.
From my perspective, a complete societal collapse seems the more likely thing to prepare for - rather than just an economic collapse.
Because if we experience an economic collapse, a complete societal collapse can't be far behind.
JMO and YMMV - act and invest accordingly...
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Gold at 2340. Silver over 27. FOMO buying?
NO REGRETS - Local Sell Back Price Offers just insults
Insulting buy offers this week from local pawn shop,
Did not meet Alla Baba and the other 39.
I was offered $585 for a 27.8 grams 14K necklace with a MELT VALUE or just over $1200.
I was also offered EIGHTY CENTS for Pre 64 Silver dimes with MELT VALUE of almost $2.00.
Have a couple of more places to price check in area.
Probably will have to ship.
Bekeart
Insulting buy offers this week from local pawn shop,
Did not meet Alla Baba and the other 39.
I was offered $585 for a 27.8 grams 14K necklace with a MELT VALUE or just over $1200.
I was also offered EIGHTY CENTS for Pre 64 Silver dimes with MELT VALUE of almost $2.00.
Have a couple of more places to price check in area.
Probably will have to ship.
Bekeart
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8 cents for a silver dime, face value is 10 cents. WTH.
Seems pretty dishonest. I've bought from a coin shop but have never tried to sell.
Was headed to TJ in '67 with a Girlfriend.
TSgt buddy asked if would drop off 200 pounds of gold, from his family's old gold mine, while I was there.
My only question, "will the prison owners allow my sweetheart and I, to bunk in the same jail cell?"
IIRC
USA $35/oz
TJ over $100/oz
He understood my .... No thanks.
My regret was not buying his freshly skinned, zero time since overhauled '47 Aeronca Champ, that his family bought new in '47.
Price to me was less than 1K.
Sad but true... as I was invested in building a Harley chopper.
Plus there were rumors that Speeds Airport, near our home, might be closing.
TSgt buddy asked if would drop off 200 pounds of gold, from his family's old gold mine, while I was there.
My only question, "will the prison owners allow my sweetheart and I, to bunk in the same jail cell?"
IIRC
USA $35/oz
TJ over $100/oz
He understood my .... No thanks.
My regret was not buying his freshly skinned, zero time since overhauled '47 Aeronca Champ, that his family bought new in '47.
Price to me was less than 1K.
Sad but true... as I was invested in building a Harley chopper.
Plus there were rumors that Speeds Airport, near our home, might be closing.
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