When should we buy metals? Silver, Platinum, Gold, etc?

[4Freedom]

Any investor survivalists around here? I know we are all looking at getting stimulus checks, but unless they fund those with cuts in spending rather than bloating the deficit even more, it's going to be funny money soon enough. As well, I got some money in savings account, but if we go into a severe Recession or Depression after this our currency could tank in already risky type of forex market where currencies have become severely unstable. I'm a software guy and definitely don't have the background in investment and economics in the past, although I have studied a little bit about investing. I remember a while back when I was teenager I got some spending money and bought a bunch of silver. Right after I bought it at like $6-7oz (forget how much it was, but cheap) it skyrocketed to like $12 or something and I doubled my money . I then sold it quickly and made some money on it.

Well, that was nice for a small investment, but I am wondering if keeping our assets in cash can be risky at this point if our Dollars tanks and lack of supplies will cause inflated prices with a depressed dollar. I have no clue, but I am just thinking back to all the people I know who have talked about risks of deep cash investments, especially with the way our country prints cash.

One thing I have noticed in Platinum has become super cheap these days,whereas Gold and Silver have skyrocketed,especially with emerging economies of India/China and the high demand for gold by India, who I have read has bought up a good proportion of it, since jewelry and such is part of their culture. I am sure there are other reasons its skyrocketing. Although, for the first time in a while, gold is actually going down and has hit record lows. No, it's not the $600/oz I bought it for in the 90s, but I cannot imagine it would keep going down.

Anyone here thinking of precious metal investments and have suggestions? I got money invested, but of course, worried if I put my cash into metals and the metals tank I am left with nothing. But, if our currency tanks due to a serious recession and lack of consumer spending and income with bloated dollar I may be let with monopoly money.

Just wondering people's opinions here.

Read More

 

[titsonritz]

Lead.

 

[dangerranger60]

If you were going to buy silver it should have been in Dec. Before they broke the Virus story! DR

 

[deadeye]

copper, lead and brass are the only metals I buy. Kinda hard to split a gold coin up to pay for that can of beans..........If you are wanting to get gold for investment purposes because of inflation just remember what they did in 1933......

When Owning Gold Was Illegal in America: And Why It Could Be Again

When Owning Gold Was Illegal in America: And Why It Could Be Again

www.huffpost.com

 

[CountryGent]

We got into precious metals in the 2002/3—2006-ish time frame, most heavily so in 2004—05. Then backed off for a while. Then we sold some when prices went nutso to finance vehicles, equipment, etc.

Now we're buying a little here, a little there. Not going overboard, but like to keep 15%-ish of liquid assets in PMs. In order of quantity is silver, gold, platinum, and palladium (very little of the last two). We used to buy from APMEX, but some policy changes drove us to other vendors. YMMV.

Cheers.

 

[4Freedom]

Yeah, I do know it's going to be a risky market all the way around with a very unpredictable economy. I just was surprised to see how much silver is tanking along with platinum. I know there is a point where something can only become worth so little that price can only rebound. I remember reading about gold being illegal at one point.. Well, if we hit zombie scenario and they ban gold ownership , you have to remember, if its to be made illegal your investment will only skyrocket.. Just like with guns

If you were going to buy silver it should have been in Dec. Before they broke the Virus story! DR

Dangerranger, do you not think if Silver plummets that it would at least be as good of an investment as keeping my money in the US dollar during a potential Depression? Is keeping our assets in US Currency the best way to go , especially with the deficit and inflating of our currency by the Federal Reserve? Precious metals will always have some inherent value, whereas cash can be as worthless as the paper its printed on.

Also, many have claimed Platinum's price has been superficially low and with the rise in price of gold many have been turning to making platinum jewelry. In a bad global Recession or Depression I would think more people would be purchasing jewelry made out of cheaper metals like Silver and Platinum instead of gold. I remember when Platinum was actually more expensive than Gold. Weird how that changed. Read some stories about it, but like I said, I think it was the huge amount of purchases from India and China that bloated the price and availability of gold.

Also, Platinum is a limited resource and much rarer than gold. If they ever find another use for Platinum, supposedly it is in catalytic converters in Diesel engines, the price could skyrocket beyond belief. But, I just wonder how it would make for a safe war-time/Depression investment.

I think I have enough lead and some part of me wishes I bought up a bunch of ammo, but I am hurting on money and need to save every penny. Yes, I could have been one of those price gouging a-holes on Gunbroker (have a gunbroker account with positive sales feedback), but I just cannot lower myself to that level. Trust me, i Saw the wave of panic coming and could have bought thousands of dollar in ammo and made a killing. But, I just don't have the low morals to screw over my fellow American.

 

[Angie]

If you were going to buy silver it should have been in Dec. Before they broke the Virus story! DR

Silver is considerably less than it was in December. Like 30% less.

 

[Vollom]

As danger ranger said should have been done a long time back. Interestingly despite silver price declining it cannot be found anywhere. Gold/silver bullion shops around Portland I called a few days ago are sold out, and one advised 8 week lead time. JM bullion was showing 2 week + wait due to extreme order volume but not sure how that will actually pan out for people. One told me they weren't sure when they were going to close- could be any day now:-(

 

[wired]

As a long time metal hoarder I'll be honest I dont think silver is anything but an industrial metal any more. It doesnt have the same level of value holding potential in a SHTF scenario , like is starting to happen now, that gold does. In a total societal meltdown I dont think its value would be significant.

I hold a LOT of lead right now. So much that was was starting to question if I had bought way too much as of a few weeks ago. I dont feel that way any more.

 

[4Freedom]

As a long time metal hoarder I'll be honest I dont think silver is anything but an industrial metal any more. It doesnt have the same level of value holding potential in a SHTF scenario , like is starting to happen now, that gold does. In a total societal meltdown I dont think its value would be significant.

I hold a LOT of lead right now. So much that was was starting to question if I had bought way too much as of a few weeks ago. I dont feel that way any more.

I appreciate your input here wired.. Silver was pretty dirt cheap back in the day, maybe the crisis is just throwing it back to its real value and it has been artificially high.. On that note, what's your opinion about platinum?

Do you think investing in Lead/Copper commodity is a realistic investment? I hear commodity investing takes a lot of knowledge/skill and wouldn't want to risk cleaning out my tiny little savings trying to figure it out. I was thinking of a more simple investment to protect my cash in case the dollar tanks and we enter a Depression like scenario. Everyone knows the Federal Reserve is becoming like a large balloon in the way its printing money without the backing of sufficient resources. We have become a society of borrowers and debt. I am just thinking this could be the straw that broke the camel's back and wondering if there is a more secure means to secure my assets. I am not wealthy enough where this sufficiently manners, but this has just struck my curiosity.

Platinum I am noticing is going below the levels it was when I was a kid in the 80s and 90s.

 

[wired]

Platinum is a mixed use metal. It has some jewelry use and a modicum of investment potential but it is largely valued on it use as an industrial metal. If the value we place on industry goes down, like it is now, then the price of platinum goes down. I think it might be a good time to buy platinum and stocks in general but maybe not yet. 2-3 weeks to a couple of months could see a turnaround in the economy as people go back to work. This can't last forever and stock valuation will rise but I dont think they have bottomed yet. There is plenty of room for further adjustment.

 

[4Freedom]

Platinum is a mixed use metal. It has some jewelry use and a modicum of investment potential but it is largely valued on it use as an industrial metal. If the value we place on industry goes down, like it is now, then the price of platinum goes down. I think it might be a good time to buy platinum and stocks in general but maybe not yet. 2-3 weeks to a couple of months could see a turnaround in the economy as people go back to work. This can't last forever and stock valuation will rise but I dont think they have bottomed yet. There is plenty of room for further adjustment.

Great input , wired... I am keeping my eye on Platinum.. Platinum is a rare metal and can only get so cheap. May just want to put $3,000 or $4,000 in it.. If I lose $1,000 on it, oh well, but really, if it is at record lows, I don't see it plateauing anymore. People will start utilizing it, especially if gold doesn't follow.

 

[Angie]

As danger ranger said should have been done a long time back. Interestingly despite silver price declining it cannot be found anywhere. Gold/silver bullion shops around Portland I called a few days ago are sold out, and one advised 8 week lead time. JM bullion was showing 2 week + wait due to extreme order volume but not sure how that will actually pan out for people. One told me they weren't sure when they were going to close- could be any day now:-(

Mine had some on Tuesday. Maybe I should go back on Monday and get some more. While I think platinum may be a good investment, I think in a SHTF situation, silver and gold would be more tradeable commodities. Just my opinion.

 

[dangerranger60]

I'm sitting on 3000 lbs of lead. My cost was the gas to haul it home. My wife used to give me crap about stockpiling it. At the time I started salvaging it the scrap price was .15 cents a lb. It's a long haul thing. I have a lot of Silver coins that I only paid face value for. I don't just buy as a possible short term profit. I grab the coins because they are interesting to me. I keep lead because I cast bullets. I used to sell them commercially. 3000 lbs was a couple months supply. But I don't sell without a need. I recently retired and after leaving CA I may go back to casting bullets for sale. It was a good business to be in. And with the PC bullets it could be good for me again! DR

 

[biggie24420]

Gold, silver, copper, brass, lead, and steel are all the metals I have a little of.

Gold and silver are an insurance policy, hedge against inflation. Gold and silver protect your purchasing power (nominal confusion).

I would use silver for bartering and gold to pay off debt and to acquire money making assets. I would love to buy a house with zero or negative interestrate, then pay most if not all of it off with gold.

I had a coworker (an emergency room doctor) tell me how he didn't think gold was money hahahahahahaha. JP Morgan said gold is money, everything else is credit. I'd like to add silver to that..... gold and SILVER are money and the rest are credit.

GC's three Gs
*Guns
*Gold
*Getaway plan
-Gerald Celente.

 

[4Freedom]

Gold, silver, copper, brass, lead, and steel are all the metals I have a little of.

Gold and silver are an insurance policy, hedge against inflation. Gold and silver protect your purchasing power (nominal confusion).

I would use silver for bartering and gold to pay off debt and to acquire money making assets. I would love to buy a house with zero or negative interestrate, then pay most if not all of it off with gold.

I had a coworker (an emergency room doctor) tell me how he didn't think gold was money hahahahahahaha. JP Morgan said gold is money, everything else is credit. I'd like to add silver to that..... gold and SILVER are money and the rest are credit.

GC's three Gs
*Guns
*Gold
*Getaway plan
-Gerald Celente.

Interesting perspective Biggie! Hmmm.. Makes me wonder... Silver may not be worth much to people now, but when the dollar tanks, don;'t you think more people will be buying gold and silver? I mean if Silver hits $8/oz , for example, wouldn't it make sense to just go and buy some?

Also, do you really have to buy it locally, cannot you purchase from an online vendor and even find resellers with a lower makeup?

Sorry, I am so ignorant about this stuff .. Been along time since I bought any metals.. I do remember making a little cash on silver. Hard to believe in a time of desperation and poverty that a precious metal would be worthless.

I guess it goes back to the olden days, when you paid a man in silver and gold.. That use to be currency at one time in this world.

Gold seems to have gone back up, wow, what a shocker Cannot see gold ever going below $1000/oz ever again, but who knows. Too many people liquidating assets around the world and buying it up, maybe?


Still cannot figure out why platinum is the ugly duckling here... I mean a precious metal that once was worth more than gold is becoming historically cheap.. Just makes me wonder.. But, I can see why its risky. Wouldn't think of buying it unless it gets ridiculously cheap.

 

[biggie24420]

Interesting perspective Biggie! Hmmm.. Makes me wonder... Silver may not be worth much to people now, but when the dollar tanks, don;'t you think more people will be buying gold and silver? I mean if Silver hits $8/oz , for example, wouldn't it make sense to just go and buy some?

Also, do you really have to buy it locally, cannot you purchase from an online vendor and even find resellers with a lower makeup?

Sorry, I am so ignorant about this stuff .. Been along time since I bought any metals.. I do remember making a little cash on silver. Hard to believe in a time of desperation and poverty that a precious metal would be worthless.

I guess it goes back to the olden days, when you paid a man in silver and gold.. That use to be currency at one time in this world.

Gold seems to have gone back up, wow, what a shocker Cannot see gold ever going below $1000/oz ever again, but who knows. Too many people liquidating assets around the world and buying it up, maybe?


Still cannot figure out why platinum is the ugly duckling here... I mean a precious metal that once was worth more than gold is becoming historically cheap.. Just makes me wonder.. But, I can see why its risky. Wouldn't think of buying it unless it gets ridiculously cheap.

I don't know how much lower they can go on silver but with gold for example, they can't sell it for less than the mining costs. So if it costs $1000 for an ounce of gold to be mined, I can't imagine it selling for $900 for example.

If you have time, look up lynette Zang on youtube. She is with ITM training. I have learned a lot from her. Also James Rickards, I like him too. So between those two, you can learn a lot. You can also contact ITM with your questions and they will probably answer it on their videos they post.

I was born in the middle east. I grew up seeing gold shops and people buying gold as an investment and protection for the future. After 9/11, I woke up and once 2008 hit, I began to research ways to protect myself for the future. Then I ran into Gerald Celente and he really woke me up, look him up too.... cool cat.
Knowing that gold has been around for thousands of years, "god's money" and with my exposure to it since childhood, I decided to purchase gold for my golden years.
I have no faith in the market and I don't understand it so I stay clear. If you can't hold it, you don't own it.

My other coworker, for a week he kept bubbleguming about how he lost $100k in the market. First of all it was his wife and second of all, how do you lose something you never owned? Lol

 

[4Freedom]

I don't know how much lower they can go on silver but with gold for example, they can't sell it for less than the mining costs. So if it costs $1000 for an ounce of gold to be mined, I can't imagine it selling for $900 for example.

If you have time, look up lynette Zang on youtube. She is with ITM training. I have learned a lot from her. Also James Rickards, I like him too. So between those two, you can learn a lot. You can also contact ITM with your questions and they will probably answer it on their videos they post.

I was born in the middle east. I grew up seeing gold shops and people buying gold as an investment and protection for the future. After 9/11, I woke up and once 2008 hit, I began to research ways to protect myself for the future. Then I ran into Gerald Celente and he really woke me up, look him up too.... cool cat.
Knowing that gold has been around for thousands of years, "god's money" and with my exposure to it since childhood, I decided to purchase gold for my golden years.
I have no faith in the market and I don't understand it so I stay clear. If you can't hold it, you don't own it.

My other coworker, for a week he kept bubbleguming about how he lost $100k in the market. First of all it was his wife and second of all, how do you lose something you never owned? Lol

Wow, that is some GOLDEN advice , BIggie (no pun intended).. Actually, you really nailed it and I like your perspective on it. I've always felt the same way you did , especially travelling to third world countries where the currency was worth almost as much as the paper it was printed on (like when I was in Ghana, 8000 cedis to a dollar). You should have seen my trips to the ATM. I felt like a drug dealer walking around with piles of cash, just to buy some basic crap or pay my motel bill.

Yeah, I always worried about where my Federal Reserve notes really were being held. I mean a paper currency is literally a contract with you and your government and you hope for the best that your finances are in good hands. Oh, but then we have Global crisis and perhaps our government soon will run out of means to keep borrowing against our currency and it will turn into complete rubbish. Playing in the stock market also just seems pretty risky these days and as we saw with all politicians liquidating their stocks before the crash, it is a pretty crooked and trading insiders and market makers kind of manipulate the market.

I'll definitely check out those people you mention and try to educate myself more about it. I appreciate the resources.

If I ever can amass a serious amount of cash, I definitely will not be keeping it in US Currency. I want to keep it in something solid and worthwhile. Hell, just investing your money in stockpiles of ammo almost seems more worthwhile than cash.. Ammo always sells and you can usually get your money worth during peace and non-crisis times. But, I was thinking of something a little more zealous and with more growth potential.

I still cannot imagine gold costs $900/oz worth to mine, but maybe with inflation? I remember when gold was selling for like $400/oz (even less). I remember complaining when it hit $600/oz. I think the problem with gold is worldwide demand. It is still more common and readily available I hear and less hard to mine than platinum, yet platinum is still much cheaper.

 

[GWS]

As danger ranger said should have been done a long time back. Interestingly despite silver price declining it cannot be found anywhere. Gold/silver bullion shops around Portland I called a few days ago are sold out, and one advised 8 week lead time. JM bullion was showing 2 week + wait due to extreme order volume but not sure how that will actually pan out for people. One told me they weren't sure when they were going to close- could be any day now:-(

Heh
I'm betting there's no silver because those dealers bought at $14
They'd rather sit on it than sell it at a loss.

 

[wired]

Also South Africa was pumping gold into the world market for decades and they have essentially run out of gold. Their mines put out a fraction of what they used to even though they have ramped up mining efforts. A lot of countries reduced their gold holdings and wish they hadnt . Remember when gold hit $240 an ounce? I still kick myself for not buying a few pounds then.