Advice on buying silver and gold.

[thompbarn]

OK, so I'm losing faith in the dollar. Many folks are buying silver and gold. What would you buy and where would by buy it?

 

[Brown]

Thus far I have been buying silver. Buying it from apmex.com overall their price over spot is one of the lower rates

 

[Bigum1969]

Gold is really high right now... might not be the best investment. Gold has seen massive fluctuations in prior times.

 

[snapping turtle]

The time to buy gold was 1997.

Silver or even copper might be the better investment.

ALso a gold based mutual fund. They invest in gold mining companies, mining companies like Caterpillar and diamond companies. They also keep over 60 % of the funds value in gold itself.

If SHTF is your goal I would think of thousands of things being better valued than gold.

I don't think with the Euro tanking right now I would get out of US dollars. I might invest in some fine made german guns or euro guns if the dollar goes really strong against the euro.

 

[rhino]

OK, so I'm losing faith in the dollar. Many folks are buying silver and gold. What would you buy and where would by buy it?

Non-perishable food supplies and containers for water. Unless you literally have no more room for supplies, you can't afford gold and silver right now.

Medical and survival training & practice would be another good investment with priority over metals.

A nice multi-fuel generator professionally wired into your home, a big LP tank or two, and a soundproofed structure to surround the generator would also be a better investment than metals.

Having a well drilled (if possible) and both electric and hand-operated pumps installed would also come before buying metals.

After that and maybe a few other things, I might consider buying silver or gold.

 

[Soundslikejosh]

I'm with JMarriot and Rhino on this. When economies collapse, they don't start using gold. They trade services and neccesary goods. If you want to be able to trade, have a skill or food or a tool someone else needs.

Gold and Silver would be a terrible waste in a crisis, IMO. As an investment, neither have performed well. They wouldn't earn you money and wouldn't save you in economic difficulties.

Good luck with your preparations- at least you are paying attention and thinking about your wellbeing.

 

[pinshooter45]

Forget Gold...

OK, so I'm losing faith in the dollar. Many folks are buying silver and gold. What would you buy and where would by buy it?

Don't bother. Sell some aif you want some cash, Dave Ransey Website has a good place to sell to. But If the Economy colapses gold won't be worth anything. Goods and services will rule! If you want an example look at the aftemath of Katrina no one was down there trading in gold...but a bottle of water or a can of Gasoline would get you just about anything you wanted!

 

[Shay]

I agree with Rhino. Take care of the base needs first. Have food, water and security squared away. Do not neglect training. What YOU can do is more important that any stuff you own.

 

[HandK]

Guns, Ammo, Food, clean water will be the new currency if SHTF!! You could bring all the gold & silver you want If I have food, water, ammo & guns, I don't need gold!!

 

[troy28]

In a SHTF situation the wrong person with the right gun and training will gladly take your gold, silver, food, and wife. If it's really the wrong person they will trade you the bullet they put in you before they take everything. Invest in training, guns, and ammo that are globally common. JMO

 

[Flintlock]

Yeah, you're too late to be buying gold. But if you still want to try to find a numismatic exchange or something similar. There's a very nice one in Louisville.

 

[Randall Flagg]

Agreed, gold is only for someone with all supplys and 500k or more to protect. If you feel you have all the basics, silver is going to go up more % wise then gold will anyway.

This is NOT investment advice, ymmv.

 

[kybares]

The silver to gold ratio should signal one to invest in silver rather than gold at this time. I am not recommending whether to, or not to invest in either. Only you can determine where you comfort level is in regards to other investments for future times. How your initial question has turned to starving, getting shot, or your wife being taken is beyond me. It is true the that the dollar is showing some strength today that it was lacking a short time ago. But in my opinion that is not because of it's value, but rather due to the weakness of the Euro. That is not strength in the USD, rather an aversion to the weakness of the Euro. With the Fed creating more USD supply, the value of the USD is weaker in value than it was. Precious metals used as an investment tool is no different than any other investment provided you believe the price will go up, and you sell when you feel it has reached its upward potential. PM purchases can be used as either an investment, or as preparedness measures, but one has to be clear for what purpose you are purchasing them. Perhaps that is why there are such diverse responses to your initial post.

 

[NordicHeathenVinlander]

Personally, at 23 years old, I figure there is not much I can do for a retirement, but I can certainly "provide" atleast an option for my children.

We buy jewelry for our children, mainly Gold and lock it away for them.

Im of the mindset that because I cannot prepare (Lack of funds for a decent preparation)
As some might have stated, taking someone elses might be easier.

I dont advise for criminal activity, but life is honest; Survival of the strongest. Which is why I urge people to be stronger than they can imagine, be prepared and willing to stop at nothing for your personal and family protection.

 

[Whosyer]

At some point in time , post SHTF, some degree of "normalcy" will return. ( or at least SHTF conditions will be the norm) Silver has many uses, and has been mentioned, is more affordable than gold. I have some Canadian Silver Maples, Mercury dimes, silver shot,etc... Some from Apmex,some from local pawn shops.
Buy Silver Bullion Bars & Coins | Safe & Secure Online Ordering 24/7

Heck, save your nickels. The melt value is usually greater than 5 cents.
Current Melt Value Of Coins - How Much Is Your Coin Worth?

If you haven't already, read "surviving the economic collapse in argentina". Here's a link to Fernando "ferfal" Aguirre's site. SURVIVING IN ARGENTINA

 

[Eddie]

My thoughts would be most along the lines of Rhino's. I "invest" in non-perishable foods, hand tools, re-loading and medical supplies. If SHTF I might depending upon a lot of factors, "invest" some of the things I bought with my dollars by trading them for the gold that other people can't use to eat, build or treat their wounds.

 

[rhino]

For those who choose to invest in metals, we should remember that the "value" of gold and silver do not change over time. An ounce of gold is worth an ounce of gold and an ounce of silver is worth an ounce of silver. What changes is the current number of units of fiat currency that will buy that amount of metal.

 

[Eddie]

For those who choose to invest in metals, we should remember that the "value" of gold and silver do not change over time. An ounce of gold is worth an ounce of gold and an ounce of silver is worth an ounce of silver. What changes is the current number of units of fiat currency that will buy that amount of metal.

Or how many bullets, cans of beans or folding knives one will trade per ounce of metal.

 

[Indiana_Dave]

Don't bother. Sell some aif you want some cash, Dave Ransey Website has a good place to sell to. But If the Economy colapses gold won't be worth anything. Goods and services will rule! If you want an example look at the aftemath of Katrina no one was down there trading in gold...but a bottle of water or a can of Gasoline would get you just about anything you wanted!

This conversation comes up every now and then here. my thoughts:

1. prep first - food and self-defense, in that order;

2. If you have plenty of money left over, silver and gold are, I think, good investments. Think about physical silver for later use in barter.

3. Dave Ramsey is great at telling people how to get out of debt, but doesn't know anything about investing. $100k in stocks 10 years ago is worth less than $100k today; $100 k in gold 10 years ago is > $400k today.

 

[thompbarn]

I agree with most of this. My SHTF preparations are ongoing. I'm thinking of wealth preservation for when SHTF is over, and the recovery begins. At that point, we'll be using Neuvo Dollaras, and I'm looking for a better exchange rate.

Gold and silver aren't my only preparations, just one aspect.