Are you guys buying silver/gold?

Johnnycat · 07-21-2009, 08:33 PM

With all the inflation talk and government printing money like mad, is anyone investing in Gold/Silver?

If so - what type - "junk" silver?

Personally, if I come across a good deal I'd take it, but I think I've missed out on the good timing to get into the silver market. I think it's too late now. Maybe I'll get $100 face value in pre-65 silver coins, but not much more than that.

I think I'll focus on other commodities in the event of total collapse of society. Things like food, gas/diesel, bullets for trade.

troy2000 · 07-21-2009, 09:42 PM

If I understand correctly, most of these schemes for investing in gold and silver depend on someone holding the stuff for you somewhere. So when the S hits the fan, who's going to deliver it to you?

Johnnycat · 07-21-2009, 10:12 PM

Quote:

Originally Posted by troy2000

If I understand correctly, most of these schemes for investing in gold and silver depend on someone holding the stuff for you somewhere. So when the S hits the fan, who's going to deliver it to you?

If you buy "junk" silver - pre-65 dimes, quarters, etc. - you own and possess them. Supposedly in SHTF situations we'll dump the worthless paper and go to something portable with value.

But you are right - those plans where someone else holds the gold and silver are just glorified pyramid schemes that depend on someone else to buy your gold/silver for a higher price than what you paid. The only people that are profiting now are the ones that bought at lower prices and are now selling, i.e. the companies that are advertising on late night infomercials.

sbowers5 · 07-21-2009, 10:12 PM

I bough mine in the from of 1oz gold coins and they were sent directly to me, they are $50 gold Eagles and I was fortunate to get in when gold was $425 an oz. So i have my gold stored in my bank box
Steve

Gray Wolf · 07-21-2009, 10:52 PM

That's the way to do it. I bought a few silver coins (pre-65) when they were 4x face value. Now I think the going rate is 10x face value.

ArkansasHunter · 07-21-2009, 10:57 PM

Not buying any kind of metals...Just Spam, dried beans, rice and cigaretts.

Sam Ruger · 07-21-2009, 11:48 PM

I'm investing in brass - particularly Federal and Winchester.

Mooseman684 · 07-22-2009, 01:46 AM

I'm not buying gold , But I'm diggin all I can out of the Mountains and streams up here...

woody1981 · 07-22-2009, 05:03 AM

I stay away from that stuff, also away from precious gems.

nathangdad · 07-22-2009, 06:44 AM

due to their current high price plus, as someone else alluded, there are a number of not-so-ethical dealers and traders out there.

I do think it would be a good idea to watch the world's food production trends then be ready to buy some futures in the right commodity.
I want to stress this is a very involved process of study and planning so do not rush into commodity speculation.

tappedandtagged · 07-22-2009, 06:54 AM

Quote:

Originally Posted by ArkansasHunter

Not buying any kind of metals...Just Spam, dried beans, rice and cigaretts.

You know, even for someone who doesn't smoke, cigarettes are probably a good thing to invest in for a form of SHTF currency. Grandpa told me that when he was a POW in a German labor camp, he used his cigs to barter with the local farmers to be able to milk some of their cows.

TargetGunFan · 07-22-2009, 06:55 AM

physical 99.999 purity only, and I have possesion of it, with exception of a few thousand in paper slv and gld ishares I trade. Junk-gold and silver like the special limited release crap you see on TV is about sold at a minimum of double its current value and is usually closer to 10x.

pico · 07-22-2009, 08:20 AM

I would stay away from the larger gold coins, as they will likely not be an easy to divide means of trade/barter. I would think the largest gold you will want to have will be the smaller 1/10th coins. Australia used to make them in smaller sizes, but not sure if they still do.

The Silver market is actually still good to get into, and that is where I would invest my money if I still needed to. Historically, it should be much higher when comparing it to gold prices. The Junk Silver dimes are the way to go, and if you want something a bit larger go with the morgan or peace dollars. Peace Dollars should be found for slightly less.

Lastly, remember that the older coins are not pure like the modern stuff. You are looking at both gold and silver being 90% pure. Modern stuff is more like 99.5% pure. If you are looking to buy gold for when the SHTF, stick to smaller sized stuff. Also, another good form of currency expected to be highly prized will be .22LR and .223 rounds. IIt may be that this is more valued in the future than the precious metals. As another pointed out, stay away from stones. Diamonds are worthless to the average joe, as you can get ripped off with cut glass easily enough if not careful. Also, DeBeers has manipulated the Diamond trade for too many years now and have allowed Diamond prices to drop a bit with the crappy economy. While this could change, I would not take that bet for a long term investment.

Roper1911 · 07-22-2009, 01:02 PM

I'm heavily invested in a diverse portfolio of cordite, brass, plastic and lead.

mitchshrader · 07-23-2009, 11:05 PM

I bought some silver, after ammo n' food, sort of simultaneously with storing some top shelf booze. If n' when silver makes sense as currency, barter of any kind is on the agenda as well.I bought random ounce rounds, a few eagles. All ounces .999 or .997 I think, and I value 'em about 1.5x spot, meaning I'd have to see a 50% increase in purchasing power, compared to fiat money, before I'd consider spending 'em. I'm not drinking up the booze, either. Stockpiling things that might be useful is a pleasant hobby, and that's why I own too many knives, and canning jars, etc..etc..silver's not special.

rondog · 07-24-2009, 01:14 AM

Personally, I buy 1 oz. silver coins called "rounds". They're essentially 1oz. of .999 fine silver, a little larger than the old silver dollars, but they're not "coins" per se, although they look like coins. They're not issued by a mint as currency, they're usually made by mining companies or processors, just as physical silver investment vehicles. They don't have a numismatic or collector value like currency coins, and they're totally liquid, any coin dealer will readily buy/sell them.

I have a decent stash of them, currently "thinking" about cashing in enough to pick up an M1 carbine I've spotted. Maybe I will, maybe not, it's priced too high but it's a "bird in the hand" situation.

Roper1911 · 07-24-2009, 11:36 AM

the only thing I can see silver and gold being useful for after the SHTF will be casting bullets.

Lobo0311 · 07-24-2009, 12:41 PM

Quote:

Originally Posted by Roper1911

I'm heavily invested in a diverse portfolio of cordite, brass, plastic and lead.

I'm thinkin that'd be the way to go, good call

rondog · 07-24-2009, 06:02 PM

I don't believe in these "SHTF" scenarios, I just invest in silver for profit potential, due to several factors in that market. But if SHTF really DID happen, silver and gold in small quantities WOULD be very valuable, moreso than any other currency. But I'm not worried about surviving, wouldn't be a world I'd want to live in anyway. JMHO.

deadzero · 07-25-2009, 04:18 AM

Quote:

Originally Posted by Roper1911

the only thing I can see silver and gold being useful for after the SHTF will be casting bullets.

for use on werewolves and space invaders?

only when they "throw their gold and silver into the streets" will I pick it up to cast with. till then I'll stick with lead... seems a lot more useful to me.

07-21-2009, 08:33 PM	#1
Johnnycat Senior Member Join Date: May 2007 Location: Tupelo, MS Posts: 546	Are you guys buying silver/gold? With all the inflation talk and government printing money like mad, is anyone investing in Gold/Silver? If so - what type - "junk" silver? Personally, if I come across a good deal I'd take it, but I think I've missed out on the good timing to get into the silver market. I think it's too late now. Maybe I'll get $100 face value in pre-65 silver coins, but not much more than that. I think I'll focus on other commodities in the event of total collapse of society. Things like food, gas/diesel, bullets for trade. __________________ I reserve the right to be wrong.

07-21-2009, 10:12 PM	#4
sbowers5 Super Moderator Join Date: Nov 2007 Location: sawyer, ok Posts: 1,228	I bough mine in the from of 1oz gold coins and they were sent directly to me, they are $50 gold Eagles and I was fortunate to get in when gold was $425 an oz. So i have my gold stored in my bank box Steve __________________ For those who never fought for it, freedom has a taste the protected will never know.

07-21-2009, 10:57 PM	#6
ArkansasHunter Senior Member Join Date: Mar 2007 Location: South Arkansas. Posts: 18,445	Not buying any kind of metals...Just Spam, dried beans, rice and cigaretts. __________________ IN GOD WE TRUST NRA MEMBER

07-22-2009, 01:46 AM	#8
Mooseman684 Super Moderator Join Date: Dec 2005 Location: Alaska Wilderness. Unit 13 Posts: 12,781	I'm not buying gold , But I'm diggin all I can out of the Mountains and streams up here... __________________ You know you might be facing your doom,when all you get is a click when you're expecting a BOOM!

07-22-2009, 05:03 AM	#9
woody1981 One of the Usual Suspects Join Date: Jun 2009 Location: southwest PA Posts: 1,603 Blog Entries: 1	I stay away from that stuff, also away from precious gems. __________________ A fear of weapons is a sign of retarded sexual and emotional maturity.”~Freud

07-21-2009, 09:42 PM	#2
troy2000 Banned Join Date: Dec 2004 Location: Southern California Posts: 14,553	If I understand correctly, most of these schemes for investing in gold and silver depend on someone holding the stuff for you somewhere. So when the S hits the fan, who's going to deliver it to you?

07-21-2009, 10:52 PM	#5
Gray Wolf Senior Member Join Date: Feb 2008 Posts: 283	That's the way to do it. I bought a few silver coins (pre-65) when they were 4x face value. Now I think the going rate is 10x face value.

07-21-2009, 11:48 PM	#7
Sam Ruger Senior Member Join Date: Mar 2009 Posts: 318	I'm investing in brass - particularly Federal and Winchester.

07-22-2009, 06:44 AM	#10
nathangdad Senior Member Join Date: Nov 2007 Posts: 6,056	I'm staying away from gold and silver due to their current high price plus, as someone else alluded, there are a number of not-so-ethical dealers and traders out there. I do think it would be a good idea to watch the world's food production trends then be ready to buy some futures in the right commodity. I want to stress this is a very involved process of study and planning so do not rush into commodity speculation.

07-22-2009, 06:55 AM	#12
TargetGunFan Cardinal Richlieu Join Date: Dec 2008 Location: Omaha, NE Posts: 2,846 Blog Entries: 2	physical 99.999 purity only, and I have possesion of it, with exception of a few thousand in paper slv and gld ishares I trade. Junk-gold and silver like the special limited release crap you see on TV is about sold at a minimum of double its current value and is usually closer to 10x. __________________ We hang the petty thieves and appoint the great ones to public office. -Aesop

07-22-2009, 08:20 AM	#13
pico Senior Member Join Date: Mar 2009 Location: Iowa Posts: 439	I would stay away from the larger gold coins, as they will likely not be an easy to divide means of trade/barter. I would think the largest gold you will want to have will be the smaller 1/10th coins. Australia used to make them in smaller sizes, but not sure if they still do. The Silver market is actually still good to get into, and that is where I would invest my money if I still needed to. Historically, it should be much higher when comparing it to gold prices. The Junk Silver dimes are the way to go, and if you want something a bit larger go with the morgan or peace dollars. Peace Dollars should be found for slightly less. Lastly, remember that the older coins are not pure like the modern stuff. You are looking at both gold and silver being 90% pure. Modern stuff is more like 99.5% pure. If you are looking to buy gold for when the SHTF, stick to smaller sized stuff. Also, another good form of currency expected to be highly prized will be .22LR and .223 rounds. IIt may be that this is more valued in the future than the precious metals. As another pointed out, stay away from stones. Diamonds are worthless to the average joe, as you can get ripped off with cut glass easily enough if not careful. Also, DeBeers has manipulated the Diamond trade for too many years now and have allowed Diamond prices to drop a bit with the crappy economy. While this could change, I would not take that bet for a long term investment.

07-22-2009, 01:02 PM	#14
Roper1911 Senior Member Join Date: Dec 2008 Location: just to the right of the artillery emplacement. Posts: 156	I'm heavily invested in a diverse portfolio of cordite, brass, plastic and lead. __________________ What would John Moses Browning do? ~ Doc Nickle

07-23-2009, 11:05 PM	#15
mitchshrader Member Join Date: Jul 2009 Posts: 9	I bought some silver, after ammo n' food, sort of simultaneously with storing some top shelf booze. If n' when silver makes sense as currency, barter of any kind is on the agenda as well.I bought random ounce rounds, a few eagles. All ounces .999 or .997 I think, and I value 'em about 1.5x spot, meaning I'd have to see a 50% increase in purchasing power, compared to fiat money, before I'd consider spending 'em. I'm not drinking up the booze, either. Stockpiling things that might be useful is a pleasant hobby, and that's why I own too many knives, and canning jars, etc..etc..silver's not special.

07-24-2009, 01:14 AM	#16
rondog Senior Member Join Date: Aug 2007 Location: Parker, CO Posts: 3,686	Personally, I buy 1 oz. silver coins called "rounds". They're essentially 1oz. of .999 fine silver, a little larger than the old silver dollars, but they're not "coins" per se, although they look like coins. They're not issued by a mint as currency, they're usually made by mining companies or processors, just as physical silver investment vehicles. They don't have a numismatic or collector value like currency coins, and they're totally liquid, any coin dealer will readily buy/sell them. I have a decent stash of them, currently "thinking" about cashing in enough to pick up an M1 carbine I've spotted. Maybe I will, maybe not, it's priced too high but it's a "bird in the hand" situation. __________________ I child-proofed my house, but they still keep getting in!

07-24-2009, 11:36 AM	#17
Roper1911 Senior Member Join Date: Dec 2008 Location: just to the right of the artillery emplacement. Posts: 156	the only thing I can see silver and gold being useful for after the SHTF will be casting bullets. __________________ What would John Moses Browning do? ~ Doc Nickle

07-24-2009, 06:02 PM	#19
rondog Senior Member Join Date: Aug 2007 Location: Parker, CO Posts: 3,686	I don't believe in these "SHTF" scenarios, I just invest in silver for profit potential, due to several factors in that market. But if SHTF really DID happen, silver and gold in small quantities WOULD be very valuable, moreso than any other currency. But I'm not worried about surviving, wouldn't be a world I'd want to live in anyway. JMHO. __________________ I child-proofed my house, but they still keep getting in!