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gold/silver questions

Discussion in 'Preparedness & Survival' started by Barefoot343, Dec 22, 2010.

  1. Barefoot343

    Barefoot343 liberalville Active Member

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    I am new to the gold and silver thing and I don't have a clue where to start with this.

    I have this much figured out, I want larger quanities of smaller worth gold or silver (hope this is making some sense). If I want to barter or buy in the post crash era, it would seem smaller dollar amounts are better, safer, easier to deal with. So when you (or I) walk into a place that sells gold or silver what is the best things to purchase? coins? I have heard the term "buy pre 1964" why is that best?

    So when you got started in this where did you start? knowing what you know now, what would you do differently to set yourself up better for the future?

    I know its probably a loaded topic, so I appreciate any help and resonse.
     
  2. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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  3. IDIBoltBucket

    IDIBoltBucket West of Portland Member

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    APMEX.COM has a good reputation, and probably the lowest commission rate for non face to face sales. If you can find a local coin dealer who doesn't charge an arm and a leg, IE in it for the joy of trading, do that first. Buy strictly bullion... Silver US eagles or Gold eagles. I get the spot price off of Kitco.com daily. Don't buy the collectible coins; ie. certain years that are supposed to be more valuable, unless you want to be a coin collector. For value, the 2010 silver eagle and gold eagles are what you want.
     
  4. Barefoot343

    Barefoot343 liberalville Active Member

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  5. Barefoot343

    Barefoot343 liberalville Active Member

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    I saw someone in another thread talking about buying a little bit each month. I like that idea, I just don't know what to buy and from whom, can it be shipped via certified or registered mail? how does it come to you?

    Do you guys keep it at home in a safe for quick access if needed or is there other storage options?? I am sure you don't keep it at a bank.

    I know... I am full of questions:huh::huh::huh:... sorry
     
  6. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    Diversity.
    Some bullion: ASE, Maples, Philharmonics
    Some junk: Pre 1964 dimes, quarters, half dollars.

    I wouldn't buy the 10oz bars given your criteria. (I have some because they look cool and are cheaper per oz).

    I don't really do Gold. For the SHTF situation that you are planning for, I wouldn't count on someone having change for a Kruggerand.

    Buy 1 ounce a month minimum, just to keep you on track. You can buy more at a time if you have extra cash.

    Store some in a safe-deposit box, some in your gun safe, some at your parents safe, and some in your "Secret Spot" (Could be under your floor boards).

    Don't keep it all in one spot.

    There is a dude that goes to the gun shows that sells gold and silver there at a good price.

    Get your beans and bullets first, because they may be worth more than Gold when the time comes. Buy silver when you have plenty of the first 2.

    In Katrina an MRE was more useful than 100oz of Gold.
     
  7. C&H

    C&H SW Portland Member

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    I don't buy or store previous metals, but...

    Buy yourself a few triple beam scales first. If you want to barter someday, someone is going to want to verify what you've got, and not everyone's precious metals will be in coin form.

    Also, gold and silver are dense. You can store quite a bit in a small safe under your floor or hidden in a wall or attic.
     
  8. Brown Trout

    Brown Trout Earth Member

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    "buy pre 1964" why is that best?"

    cheap (relatively) + small increments + high silver content = pre 1964 coinage
     
  9. trainsktg

    trainsktg Portland OR Well-Known Member

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    Coctailer's advice is sound.

    So is C&Hs regarding a scale, even if it is just a simple digital model; gold-coated lead coins made in China are hard to spot by sight.

    Keith
     
  10. mjbskwim

    mjbskwim Salmon,Idaho Well-Known Member

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    Y'all know when the SHTF,brass and lead will trump gold and silver,right?

    :thumbup:
     
  11. Ragingpit

    Ragingpit Rochester,WA Member

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  12. nixuser

    nixuser nw Member

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  13. Arkarayne

    Arkarayne Medford, OR Member

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    Reminds me of a few weeks ago I was in a local coin shop, was pretty busy so I was waiting my turn (i think i was buying an ounce of silver that day) and I'd missed the first half of the conversation, between the dealer and an older man, but the rest went:

    "do you have it in anything else?"

    "I'm afraid those only come in bars."

    "Oh.. well alright i'll take one then..."

    "Okay, that'll be.. 29 it looks like."

    [Pulls out a 100 OUNCE Silver bar :wow:]

    [Guy pulls out a wad of hundreds..]

    "$2,900. Thank you sir, enjoy."

    "I remember when these were a tenth that much.."

    [Guy leaves with his bar.]



    ... I'd do that if I could, but i'll stick with my ounce a month.
     
  14. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    The bad thing about 100 oz bars is the capitol gains tax when you sell it.
    There is no tax on American Silver Eagles since it is US currency.
     
  15. nubus

    nubus Guest

    The other issue with large bars is what would you buy with it?
    In the case of EXTREMELY high silver prices that 100 oz. bar would be worth a house.
    I would highly suggest getting some pre 64 coinage and some 1 oz. eagles etc.
    The pre 64 has face value and basically is 100% certifiable non-counterfeit.
    It would be widely accepted and in barter size denominations.
    The 1 oz. pieces would be for larger purchases.

    And if what "they" are saying is true all your money and stocks will be worthless.
    When Germany's cuurency collapsed the value of one Gold Mark (metal) went from 10 Reich Marks (paper) to one BILLION, yes 1 BILLION Reich Marks in five years.
    At that point it was cheaper to heat your house with money than wood. (Wiki "hyperinflation" for more on this.)

    Besides, worst case scenario, silver goes back to $14.00.
    I know a lot of people who lost way more than that in 2008-2009.
     
  16. clearconscience

    clearconscience Vancouver, WA Well-Known Member

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    When my dad retired he took a lot of his retirement money and put it into gold and silver. I can't remember how much, but just in silver he has like 1100 ounches and a bunch of gold. The only problem is 95% on it is in a depository. So what if the economy or financial system does crash? Do you really think the gov't isn't going to just go take all that? Who knows. But if you can keep some stashed then what a great idea. Only thing better to put your money into is guns and ammo.
     
  17. A2theK

    A2theK Olympia Member

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    Picked up two boxes last week. Instant $60 (unrealized) profit given the current metal prices
     
  18. dsk

    dsk Albany, OR New Member

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    The best places that I have found for buying precious metals are:
    APMEX
    Provident Metals
    Bullion Direct
    I have purchased from all three and have been pleased, though Apmex premiums are generally more on all but larger orders.

    I am mostly buying with the expectation to sell for cash as I need it (mostly 10 ounce silver bars). So I may not be in the best to advise you for what your looking for. However I have purchased a small amount (though not to small) with the possibility of barter in mind. You might check out these divisible one ounce silver rounds.
    1-troy oz Divisible Gold Panner .999 fine Silver Bullion Rounds
    They sell at decent premium over spot and they are what I stocked up on for potential barter. Most 1/2, 1/4, and 1/10 ounce rounds have rather large premiums so these are the best deal for .999 fine silver in units smaller than an ounce.
     
  19. Decker

    Decker My house Active Member

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    Silver peeked up over the $30 an ounce fence. Interesting...

    -d
     
  20. Barefoot343

    Barefoot343 liberalville Active Member

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    Think it was pushing $34.00 earlier this week