gold/silver questions

[Barefoot343]

Junk silver is legal tender of the United States. Why would you keep track how much currency you hold simply based on the year it was minted?

not me, the government.

I know with junk silver there is probably not an issue, but I know that if you withdraw a certain amount of cash (which is also legal tender) right now they make you fill out a form(think its $10,000) and the gov knows about it. I am simply asking if it is the same way when buying junk silver/ or regular silver, at what point do they record it? (maybe $10,000 also?)

 

[Grunwald]

not me, the government.

I know with junk silver there is probably not an issue, but I know that if you withdraw a certain amount of cash (which is also legal tender) right now they make you fill out a form(think its $10,000) and the gov knows about it. I am simply asking if it is the same way when buying junk silver/ or regular silver, at what point do they record it? (maybe $10,000 also?)

I don't believe you have to fill out anything. Maybe the bank does. I do know that if you buy something for over 10K the seller has to report it.
This law goes back to the 1970s (or maybe even earlier) when $10,000 was a lot of money. Seems that it was never indexed for inflation.

Also, read my original statement and "read between the lines".

 

[nubus]

It's actually $10,000.01 and up, deposit or withdrawl.
It's reported to the Treasury Dept. who likely forwards that info to the IRS.

 

[Barefoot343]

It's actually $10,000.01 and up, deposit or withdrawl.
It's reported to the Treasury Dept. who likely forwards that info to the IRS.

thank you, that was what I was curious about and I probably didn't word it the best.

 

[One-Eyed Ross]

I dunno. I guess if you have investment money, and no need to buy other things that need to be purchased (food stores, ammo stores, clothing, etc)....gold might be ok.

Just don't show up at my place during a SHTF EOTWAWKI situation and think I'll be willing to trade meat/food stuff for gold. In that type of situation, I am more in need of what I'm out of at that point in time, not something that might have value some day when civilization starts to rebuild it.

 

[Barefoot343]

I dunno. I guess if you have investment money, and no need to buy other things that need to be purchased (food stores, ammo stores, clothing, etc)....gold might be ok.

Just don't show up at my place during a SHTF EOTWAWKI situation and think I'll be willing to trade meat/food stuff for gold. In that type of situation, I am more in need of what I'm out of at that point in time, not something that might have value some day when civilization starts to rebuild it.

lol, ok Ross I will mark your house off my list. I get what you are saying but I am working on all the other areas as well and am about as maxed out as I can be for what space I have for food/water. Now I am starting to work on lower priority items... including silver (gold is too spendy for what little I make). It is not my highest priority but it does play a part in a "balanced approch" to prepping in my humble opinion.

 

[Burt Gummer]

15 Trillion Dollars In Debt, 45 Million Americans On Food Stamps And Zero Solutions On The Horizon = look for alternatives to saving in US dollars or any paper for that matter.

 

[A.I.P.]

10-21-11
Gold was up 25 to 1667
Silver was up 1.09 to 32ish
I predict a other buying frenzy as Euro investors scramble to save even a fraction of thier euro-tied investments (they have to pay large taxes when they sell off thier holdings

Today; despite a much stronger dollar boosted by euros flooding into US MktsPms still rising

Did gold really go down 19.50?

New York Spot Price

MARKET IS OPEN
(Will close in 1 hr. 28 mins.)
Metals
Date
Time
(EST)
Bid
Ask
Change
Low
High

GOLD
11/09/2011
15:47
1765.60
1766.60
-19.50
-1.09%
1763.10
1800.80

SILVER
11/09/2011
15:47
33.89
33.99
-1.01
-2.89%
33.66
35.05

PLATINUM
11/09/2011
15:47
1622.00
1629.00
-35.00
-2.11%
1618.00
1661.00

PALLADIUM
11/09/2011
15:47
645.00
651.00
-23.00
-3.44%
643.00
670.00

RHODIUM
11/09/2011
08:28
1,675.00
1,775.00
0.00 0.00% Investing in Rhodium
Gold is still $100 higher than I paid 4 weeks back but the question is how much influx of forgine wealth does it take to float the dollar $20 higher against gold?

 

[Barefoot343]

so lets play a game for a second, hypothetical here...

if somebody just getting into this had an AR already, had about 2 months worth of food and water, some silver and had $5,000 right now to dump into something for shtf where would you use that money? would you put it into PM's? what would you buy? would you buy more food/water/ammo?

My answer based on the little I know, I would divide it up I guess. Buy some food, buys some things to barter with, more water, some more ammo and maybe $2500.00 in gold/silver and about $1500 in junk silver (dimes, quarters, halfs). I would get a water purifier, knife, firstaid kit as well.

Thoughts? what would you change or do with $5000?

 

[slimmer13]

Just an AR? Buy More guns is what id do.
A good side arm (I like 1911's in .45 of course) $700
A .22 $250
A 12 ga $350
A long range scoped hunting rifle chambered in .308 $800
Extra mags, reloading components, ammo, holsters, spare parts for each gun $1500
Water purification (tablets and a filter) $150
More food and water $1000
silver $250
= $5000 I think

 

[A.I.P.]

#1 Beans
#2 bandaids/water filter
#3 blankets (shelter items)
#4 Boolits
#5 Night Vision or Thermal Vision

You'll never loose money on food and you can sell the rest if necessary
I highly recomend some type of night vision, even cheap NV is better than none, especially if there are few street lights or inside a darkened bldg. Thermal works day and night, it even highlights foot prints (on some occasions)
After you get that stuff think about Silver/gold coins.

 

[Grunwald]

#1 Beans
#2 bandaids/water filter
#3 blankets (shelter items)
#4 Boolits
#5 Night Vision or Thermal Vision

You'll never loose money on food and you can sell the rest if necessary
I highly recomend some type of night vision, even cheap NV is better than none, especially if there are few street lights or inside a darkened bldg. Thermal works day and night, it even highlights foot prints (on some occasions)
After you get that stuff think about Silver/gold coins.

I would love to buy a thermal vision scope or goggles or a camera, but from what I have seen they are way out of most people's price range.
First thing I would do with a thermal "thing" is do a energy audit of my house and see where I'm leaking heat in the winter.

 

[FourTeeFive]

Check this out.
Silver Investor Community Discussion Forums - SilverSeek.com

There is a lot if info in there relating to your question.

I just looked at some of that website. Holy Cow! What a bunch of loons. I'm all for a good solid conspiracy once in a while, but a lot of those people are way out in crazyville...

 

[FourTeeFive]

I would love to buy a thermal vision scope or goggles or a camera, but from what I have seen they are way out of most people's price range.

Unfortunately this technology is still very expensive. FLIR is still a few thousand dollars for a handheld or vehicle-mount device.

 

[Barefoot343]

#1 Beans
#2 bandaids/water filter
#3 blankets (shelter items)
#4 Boolits
#5 Night Vision or Thermal Vision

You'll never loose money on food and you can sell the rest if necessary
I highly recomend some type of night vision, even cheap NV is better than none, especially if there are few street lights or inside a darkened bldg. Thermal works day and night, it even highlights foot prints (on some occasions)
After you get that stuff think about Silver/gold coins.

yeah but thermal vision is big $$$$$$$$$$$$$$ yes?

 

[Burt Gummer]

Night vision as in a Yukon scope w/ infrared aux light from Optics Planet for $400. Agreed. When the lights go out it sure would be nice to have some sort of visibility. Seen those infrared lazers on Ebay for $500 but not sure how those work. You have to wear googles or be looking through an NV scope to see where the laser is? Seems like the crosshairs or dot in an NV scope sounds better.

Thermal is crazy expensive. Would be fun, no doubt.

 

[A.I.P.]

You can buy a thermal monocular for about $1700

 

[Burt Gummer]

Urban panning for gold.

Pan For Gold On The Streets Of New York City! - YouTube

 

[Decker]

Night vision as in a Yukon scope w/ infrared aux light from Optics Planet for $400. Agreed. When the lights go out it sure would be nice to have some sort of visibility. Seen those infrared lazers on Ebay for $500 but not sure how those work. You have to wear googles or be looking through an NV scope to see where the laser is? Seems like the crosshairs or dot in an NV scope sounds better.

Thermal is crazy expensive. Would be fun, no doubt.

Hey Noisy, which one did you get? I poked around on Optics Planet and there's a lot of choices...


-d

 

[Pembertonxr70]

Havent read the other posts yet but I thought id add some information hopefully (I am a big gold/silver buyer/seller). For your situation in the first post, of trading after the SHTF small amounts would be much safer to trade with and you wouldnt have to worry about loosing large amounts because your carrying it on you. The reason pre 1964 is the year people tell you to buy is because it is silver. This is for coins such as Nickels, Dimes, Quarters, Half Dollars, Dollars, etc.. A HUGE bonus to buying these types of silver is that people (at least to my knowledge) dont fake these, since they are such small amounts. They are definately one of the safest buys, you just have to make sure you buy at the right price, you can look up the silver value in a coin buy just typing it in Google/Bing etc.. For instance if you type in "Silver Value 1964 Quarter" it will tell you that it is 90% silver and 10% copper. And if you use Coinflation.com it will tell you the exact value of the silver and copper today. For example since today is Sunday and the Silver/Gold markets are closed it will be fixed for another few hours at one price, 38.82 (according to Kitco, which any big company or buyer/seller should use for gold and silver spot price). Anyways, Coinflation will show you that the silver is worth $5.5628829304 so its basically telling you that a 1964 Quarter is worth 22 times its "Face Value". So most people will pay around 20times Face Value (and you should too, try never to pay spot even if your sure market is going to go up). To conclude my tiny rant on all this small coins are the safest way to purchase silver, but if you want to buy something that you dont really need to a bit of math on, buy silver bullion/rounds. They are worth exactly what you see spot at (since they are 1 ounce of silver and thats what Kitco is telling you the sillver value, by ounce). And all you do is have to check Kitco value before you buy, however if you buy from a store you will have to pay their "Premium" thats a waste, its generally about 1.50 more then spot, and you dont want to be caught up in that mess where you start negative. Try buying from private parties via NWFA, SGN, Craigslist, putting an add in the paper. And make sure you buy a silver chemical tester, just add a drop of the chemical on the supposed silver and if it turns red and then a creme color it is true silver, if it turns green dont buy its not silver at all, just a fake! If you have any questions feel free to PM me and ill answer what I can!