Gold and Silver?

[jwhites4]

I was thinking about getting some quantities of silver coins and possibly gold bullion in smaller (1/10 oz) sizes. Has anyone else done this for strictly a survival situation? I have been reading up on the possible banking system collapse and was pondering the idea of having some silver for trade and gold for larger trade items. If you too have done this, how did you get started?

 

[Exodus]

Just like what your thinking. Small steps. And you will hear it shouldn't be on the top of your list if there are other things you deem more necessary.

 

[smokingman]

Food,consumables,and preps first.Then start picking up some gold and silver.

 

[jwhites4]

I've got food water and shelter covered as well as a large ammo stockpile and guns to go along with said ammo. I was strictly wondering if anyone has gotten into gold and silver reserves and how they got started (where they acquired it, good amount to start at). I don't want to collect coins just for collector value so I don't know if a coin shop is the best place to go or what. Mainly looking into "junk" silver and small gold bars or coins.

 

[smokingman]

I've got food water and shelter covered as well as a large ammo stockpile and guns to go along with said ammo. I was strictly wondering if anyone has gotten into gold and silver reserves and how they got started (where they acquired it, good amount to start at). I don't want to collect coins just for collector value so I don't know if a coin shop is the best place to go or what. Mainly looking into "junk" silver and small gold bars or coins.

Coin shops are a good way to go.Let them know what you want.Shop around for sure to get the best price you can.I have been paying 3-5% above spot.3% for rounds and bars 5% on American Eagles.I started when silver was in the 8 dollar an ounce range and became much more serious early in 2008.
I would not ask a dealer for junk silver(most find it insulting). Tell them you are only interested in rounds,bars,and coins for the metal content and they will be happy to help.

 

[churchmouse]

I've got food water and shelter covered as well as a large ammo stockpile and guns to go along with said ammo. I was strictly wondering if anyone has gotten into gold and silver reserves and how they got started (where they acquired it, good amount to start at). I don't want to collect coins just for collector value so I don't know if a coin shop is the best place to go or what. Mainly looking into "junk" silver and small gold bars or coins.

Brass and lead. That is my precious metal. Who or what will put a value on your PM if things go south. Will they have worth???? just thinking out loud.

 

[Kmcinnes]

Brass and lead. That is my precious metal. Who or what will put a value on your PM if things go south. Will they have worth???? just thinking out loud.

I'm with you, I think fuel, tiolet paper, ammo, and whiskey (Had to throw it in ) will be of much greater value. I think metal will be precious and steel will become the new gold.

 

[redlegrod]

I too have thought a lot about this as well. If times were to get so bad. The only commodities of any value initially would be those that people could use. The bear necessities are the only thing people would be willing to place value on. Then maybe after some sort of community got settled would precious metals have any value.

I am betting my money on having things people could use like cigarettes, whiskey, and the like. People, in my opinion would be willing to give up some of there goods for some of these items if they became scarce.

 

[churchmouse]

I'm with you, I think fuel, tiolet paper, ammo, and whiskey (Had to throw it in ) will be of much greater value. I think metal will be precious and steel will become the new gold.

Have some whiskey in stores, cheap stuff for possible barter and the good stuff for me and mine. No issues with those who gather PM. if they never need to use it in the way they have planned it will make a nice bump at retirement.
I just do not think PM will be something with any real value if the economy tanks. It is the economy that puts such an inflated value on PM.

 

[irishfan]

A lot of guys will tell you on here to buy gold but I think that is absolutely dumb unless you are loaded with extra cash. Junk silver and other small amounts would be much easier to use in barter times and less painful to lose if you were ever robbed or something of that nature in SHTF. I would like to see how many of these people who buy gold coins lose their butt if they need to buy a small amount of goods and have nothing but 1oz gold coins

 

[gunman41mag]

Invest in "GUNS & BULLETS" it cost less than gold & it will be worth more

 

[FreeLand]

I was thinking about getting some quantities of silver coins and possibly gold bullion in smaller (1/10 oz) sizes. Has anyone else done this for strictly a survival situation? I have been reading up on the possible banking system collapse and was pondering the idea of having some silver for trade and gold for larger trade items. If you too have done this, how did you get started?

Not sure where you're located, but Matt at Lost Dutchman Coin (INGO Advertiser) on the eastside of Indy has fair prices on junk silver. I've never talked to him about gold, but would be surprised if he can't help you out with that too. Another option would be coin shows. The smaller ones usually don't charage admission and dealers are often willing to negotiate. The one I visit most often is the 71st Street Coin Show on the 3rd Sunday of the month. www.fubacoins.com/shows.htm