Sporting Systems
Buster Beaver Cerakote
Defensive Arts
Gun Deals
Low Price Guns
Oregon Rifleworks
Southwest Firearms
Advertise on Northwest Firearms
J&B Firearm Sales
Simply Triggers
HighLine Firearms

jayR

Messages
270
Reactions
398
The biggest hit is when the petro dollar looses it reserve status.. Russia is completing the pipeline to Germany. They won't be paying in US$....
The replacement will be a mixed bag of currencies. Russia, China, the US, etc..
Probably a 70% immediate loss of purchasing power when it happens.. The pieces are in place, it'll happen fast.
 
Messages
6,959
Reactions
11,357
The biggest hit is when the petro dollar looses it reserve status.. Russia is completing the pipeline to Germany. They won't be paying in US$....
The replacement will be a mixed bag of currencies. Russia, China, the US, etc..
Probably a 70% immediate loss of purchasing power when it happens.. The pieces are in place, it'll happen fast.
The Ruble is never going to be a convertible currency. The Russians will get paid in Euros .
 

parallax

Messages
1,455
Reactions
2,329
I inquired at my local coin shop about buying some gold tommorrow. They said I would have to fill out some government forms? Sorry to have to ask. But what forms are these. I’m. In Oregon
 

coltemp

Messages
548
Reactions
507
I inquired at my local coin shop about buying some gold tommorrow. They said I would have to fill out some government forms? Sorry to have to ask. But what forms are these. I’m. In Oregon
On.ly need to fill out when you are dealing with more than 10K in transaction. If you are selling they have to give you a 1099-B for the sale. Precious Metals are treated just like other investments and you get to pay capital gains tax as well as income taxes on your gains. Therefore always track what you paid. Also, make sure you account for your costs for traveling to sell the coins. this is one of the other reasons why many choose to sell privately instead of messing with the dealers. Also, you will likely get a much better price from those of us who stack than you will from the dealer.
In terms of buying they have to fill out a form not you.

That is why many of us keep our purchases and sales below 10K in a 24 hr period to avoid the paperwork and federal government tracking of purchases and sales.

the 1099-B is only for selling to them.
 

Siglvr

Messages
1,803
Reactions
2,540
I inquired at my local coin shop about buying some gold tommorrow. They said I would have to fill out some government forms? Sorry to have to ask. But what forms are these. I’m. In Oregon
It might be over $5000 per transaction now (buy 2 gold coins no form, 3 and you do the form). Regardless, buying Gold at Columbia Coin and APJM are the 2 Portland places which are on the US Mint page and they're good people. I feel that it's a solid buy at $1800 (so with Commision @$1940 ounce is the out the door cost for an American Eagle). It might drop this month or that, but 5 years on you'll be grateful you bought now.
 
Last Edited:

Good luck with your "purchases" I doubt anybody will be selling you food.
Same can be said with any other current store of wealth. Electronic coin, stocks, bonds, IRA, 401, Roth, certificates etc etc. No one will sell you eggs for your electronic coin. Even if you happened to have physical copies of said in hand.

PM's for us are simply another basket to store wealth AND carry said wealth THRU hard times.

Like all things: buy low, sell high.
 

Siglvr

Messages
1,803
Reactions
2,540
If you believe the market will collapse so that you need physical gold you not just a fool you are insane. Might as well plan for the day when aliens invade the earth with robotic dinosaurs
We should survey those crazy "Fools" who not all that long ago bought piles of Gold Eagles for under $300 an ounce if they agree with that comment as they can current sell them to any dealer for over $1800 an ounce. If nothing else, when you call them "fools", you'll likely have an interesting conversation when they ask you what you invested in instead.

BTW ronin223, what did you invest in that returned you so much more than those "insane investors"? Asking for a friend.
 

Siglvr

Messages
1,803
Reactions
2,540
Good luck with your "purchases" I doubt anybody will be selling you food.
Those who buy gold likely also have significantly more food stored, right now, than you sir. Curious, if it goes bad, what you will be using to buy your food with? It's a serious question what your advice would be.
 
Messages
6,959
Reactions
11,357
We should survey those crazy "Fools" who not all that long ago bought piles of Gold Eagles for under $300 an ounce if they agree with that comment as they can current sell them to any dealer for over $1800 an ounce. If nothing else, when you call them "fools", you'll likely have an interesting conversation when they ask you what you invested in instead.

BTW ronin223, what did you invest in that returned you so much more than those "insane investors"? Asking for a friend.
Not that long ago being what? 19 years ago? Buying gold right now at $1900 per ounce when it hasnt moved for years would be stupid.
 
Last Edited:

GWS

Messages
10,185
Reactions
39,586
Make it 21 years ago.
Turn of the century. Silver was under $5/ounce Gold around $273
 

GWS

Messages
10,185
Reactions
39,586
Different world back then.
So?
Many or even most of the folks on this board were alive then
The big SHTF issue then was Y2K and people were preparing for a collapse then. Those preps included buying PM's as well as the 3 B's
As @Siglvr and @Camelfilter and others have said. It's just one of many tools to have
The question I have asked repeatedly in these types of discussions and that NONE of the naysayers have answered is this:

Has there ever been a time in recorded history when gold and silver have not been valued?
 
Messages
6,959
Reactions
11,357
So?
Many or even most of the folks on this board were alive then
The big SHTF issue then was Y2K and people were preparing for a collapse then. Those preps included buying PM's as well as the 3 B's
As @Siglvr and @Camelfilter and others have said. It's just one of many tools to have
The question I have asked repeatedly in these types of discussions and that NONE of the naysayers have answered is this:

Has there ever been a time in recorded history when gold and silver have not been valued?
Yes. It was 2001-2002. The Y2K SHTF didnt happen and there was a huge selloff. Gold was in the toilet It recovered quickly and has stayed at historical norms since.
 

GWS

Messages
10,185
Reactions
39,586
Yes. It was 2001-2002. The Y2K SHTF didnt happen and there was a huge selloff. Gold was in the toilet It recovered quickly and has stayed at historical norms since.
Nope there wasn't a huge selloff, silver was $5.50 tops in '98-99 . The price stayed stable till 03-04 when it started to climb
Gold was in the $270's before and after Y2K the selloffs weren't that big except for the knotheads who took out loans to buy gold and even then there were few who weren't willing to wait for higher prices. Gold didn't start climbing till around 2003.
 
Messages
6,959
Reactions
11,357
Nope there wasn't a huge selloff, silver was $5.50 tops in '98-99 . The price stayed stable till 03-04 when it started to climb
Gold was in the $270's before and after Y2K the selloffs weren't that big except for the knotheads who took out loans to buy gold and even then there were few who weren't willing to wait for higher prices. Gold didn't start climbing till around 2003.
Yep. 2002 was the breakpoint. Shot up after that and never went back . Adjusted for inflation its been stagnant for what? The last 6 years?
 

GWS

Messages
10,185
Reactions
39,586
True-ish. Moreso for silver than gold
The thing is that silver or gold is the same as a gun or ammo etc
It is tangible, real.
It may be worth $5 or $50 but whatever else, it is still an ounce of silver and it is a hedge against currency collapses and runaway inflation.
I'm looking at a 100 Trillion Zimbabwe Dollar note I bought when I was over there in 2009. Zimbabwe doesn't even use their currency anymore except as a novelty being sold by hawkers outside Victoria Falls NP for dollars, rand or any other foreign currency. Look at Venezuela with 2000+% inflation. What do you think a 50 Bolivar note will get you there? What do you think an ounce of silver or gold will get you in Venezuela?

There's always someone who will want precious metals.
 
Advertise on Northwest Firearms
Sporting Systems
Let Freedom Ring
Cerberus Training Group
Southwest Firearms
Copeland Custom Gunworks

Upcoming Events

Wes Knodel Gun Shows
Chehalis, WA
Wes Knodel Gun Shows
Redmond, OR

Latest Resource Reviews

New Classified Ads

Top