$1500 to spend, what should I buy?

[SevenEyedJeff]

Junk silver seems to be a great idea based on your concerns.

Junk silver= Pre 1964 American coins in dime, quarter and nickel forms.

Typically the premiums are very low, barely over spot and in the case of SHTF is in very tradeable denominations and are legal tender.

Junk silver generally comes in bags of face value of 100$, 250$, 500$ and 1000$


A 1000$ bag is roughly 17,000 dollars right now. A 100$ bag is well within your reach if you can bundle another 200$ or so.

Pre-64 nickels are NOT silver except for 1942-1945 war nickels, which are only 35%. I would not buy them.

But yes, dimes quarters and halves minted 1964 & earlier are 90% silver coins.

 

[Brian4Liberty]

What makes you think prices will drop?

Nothing goes in a straight line. Better to buy on dips.

Agreed. Stop and think what becomes of lemmings in the end. Sometimes playing 'follow the leader' is the worst thing you can do.

I'm not guaranteeing that they won't go up, and I'm most certainly not advising to buy into the even more inflated stock market this October (known on Wall St. as 'Crash Month'). I'm just saying that there are some things that you could invest in that will likely go up soon--like canned food, if nothing else.

I agree there is a high probability of a crash before the end of the year. Margin calls will force people to sell their winners to raise cash, mostly their miners, but also some of the bullion (GLD types). Everything gets hurt to a certain extent.

 

[forsmant]

1500 and you can buy my 43 silver eagles
well how about 1100$

 

[psi2941]

Price inflation does not in any way shape or form garuntee that wages keep up. In fact the last 100 years of American history shows that real wages are FALLING in relation to the cost of living. So debt held by the public is likely to get HARDER to pay off unless there is full blown hyperinflation with GOVT regulated price increases to deal with the issue. In that scenario debt will be very easy to pay off, short of that however expect debt to get HARDER to pay.

Pay off your debts at the fastest pace you can and any scraps you have left over that you do not need to live now, use that underconsuption to buy PM's.

If you have consumer debt (credit cards, high interest) paying those off is just as smart as buying PM's. Well, almost as smart anyway.

what if, i plan to burn my credit card bill, doesn't that count as i'm no longer in debt?

seriously if its harder to pay off y would anyone pay off their unsecured loan?

 

[Seraphim]

Pre-64 nickels are NOT silver except for 1942-1945 war nickels, which are only 35%. I would not buy them.

But yes, dimes quarters and halves minted 1964 & earlier are 90% silver coins.

Thank you. I did not know that. I stand corrected and stand by the rest of my statement for dimes, quarters and half dollars. :o

 

[hillbilly123069]

Adjust for inflation the 835$ or so top in 1980 and you get about 2400$ in current dollars. I'm going home now and must leave, if your interested look it up yourself, if not I'll find the data when I get home or tomorrow.

In terms of real value silver and gold are no where near their record highs and silver is undervalued and will probably see 30$ spot quite soon. Invest all your money based on that information and opinion? No, not unless you do your own research and come to the same conclusion and are confident/can afford X amount of loses if it does not pan out.

I am aware of the record set in 1980 for silver. No equations for adjustment of time. That was the only thing you said I was aware of as fact.

 

[Uriel999]

Pre-64 nickels are NOT silver except for 1942-1945 war nickels, which are only 35%. I would not buy them.

But yes, dimes quarters and halves minted 1964 & earlier are 90% silver coins.

Meh, I don't mind war nickels. I have a dollar face value of war nickels. Personally right now, I am buying a lot of Mercury dimes though. Well a lot being relative. I have one roll of Mercury dimes and am halfway towards a second roll. What I tend to do is every paycheck no matter what the price is to spend 40-50 bucks on silver getting either a couple ASE's, Maples, or Libertads, whatever is cheaper at the time and then spending the remainder of that on mercury dimes.

 

[Humanae Libertas]

Alright, so I have never bought precious metals in my life. However, I've been keeping my eye on the gold and silver charts for about two years now, waiting to jump in when the time was right. I now have enough discretionary income so that I could start investing in PM...

I live in CA and I have read that if you spend $1500 on PM, you don't have to pay sales tax. (I intend on purchasing from a local dealer straight cash). What would be your buying suggestions for someone new, that is interested in bullion?

Note - I am certainly concerned with SHTF scenarios and being able to barter, however if I could avoid high premiums for lower denominations I will.

Thanks!

Spread the wealth around. Obviously you have TOO much money, so you need spread the money around so everyone gets a shot at the American Dream.

[/sarcasm]

You should seriously save your money, don't spend it on things you don't need. You don't wanna blow $1500 on an investment you're not 100% sure about. But it's your money, do what you want. I personally would save it just in case things get even worse (such as unemployment, medical problems etc.). Plus I'm a cheap ass.

 

[tpreitzel]

What I tend to do is every paycheck no matter what the price is to spend 40-50 bucks on silver getting either a couple ASE's, Maples, or Libertads, whatever is cheaper at the time and then spending the remainder of that on mercury dimes.

Smart moves ... accumulate a little bit at a time.

 

[DFF]

Alright, so I have never bought precious metals in my life. However, I've been keeping my eye on the gold and silver charts for about two years now, waiting to jump in when the time was right. I now have enough discretionary income so that I could start investing in PM...

I live in CA and I have read that if you spend $1500 on PM, you don't have to pay sales tax. (I intend on purchasing from a local dealer straight cash). What would be your buying suggestions for someone new, that is interested in bullion?

Note - I am certainly concerned with SHTF scenarios and being able to barter, however if I could avoid high premiums for lower denominations I will.

Thanks!

Obviously you could buy just a one ounce coin from your local dealer...but you could also use a company like www.goldmoney.com which sells physical gold at spot price (with a slight commission fee). They're located in the Bailiwick of Jersey. And store your gold in either London, Zurich, or Hong Kong. The reason I like GoldMoney is because I remember what Marc Faber said on how to prepare for when SHTF... he said "Buy physical gold...outside the United States."

 

[Godisnowhere]

You are really getting some bad advice here and must be confused. Fact US has over 100 trillion liability. Fact US liability is coming due. Fact US cannot tax and will not cut spending enough to solve the problem. Fact the US can print money and plans to do so as this is not even a secret. Fact silver inventory is low and mining costs are pretty high at $13-15 per oz. Fact silver to gold ratio is 60 to 1 and much higher than it should be like 15 to 1 or less. Fact silver has been manipulated to have a low price for sometime. Fact Silver is always going to have value. Now that I discussed the facts what do you think you should do? Read Mike Maloney's book Guide to investing in Gold and Silver and learn the history of money in the world and that will also give you more facts to consider.

 

[TomtheTinker]

Just buy pre-1965 90% silver coins "junk silver". Silver has all the upsides of gold and so much more, junk silver is also very liquid and recognizable all across the country so that will be good considering your concerns.

Sure silver is at 30 year nominal highs but anybody with common sense knows that doesn't tell the whole story.

You had the right idea about buying from a local coin dealer. the link below will show you roughly how much your dealer should charge you for 90% silver. Just make sure the coins you buy are in pretty decent condition and not to worn out(don't have to be super nit picky). Good luck


http://www.coinflation.com/

 

[seapilot]

Buy what the central banks are running to right now, Gold. They are buying gold not silver. Can never go wrong with .999 gold. Buy small amounts called fractional instead of a full oz.

 

[matthalifax]

deleted

 

[V-rod]

Since its only 1500, I would put it in UGL Pro Shares Double Gold ETF which I own, or buy up some oil etf.
Oil prices are a bit stagnant now, but its been doing 5-8% lower than prices earlier this year, and probably is a great buy opportunity, and might be awhile before it picks up some steam.

 

[cubical]

leveraged ETFs and commodity ETFs are terrible for mid to long term investing.

 

[matthalifax]

well what is then? If someone is looking to go 3:1 on gold long term what is the best option?

 

[matthalifax]

my thoughts are this would be the best option L.E.A.P.S http://www.forbes.com/2006/10/25/pfizer-options-leaps-pf-edu-in_swh_1025investools_inl.html thoughts?

 

[matthalifax]

i suppose options aren't good because of the counterparty risk

 

[cubical]

you can open up an account at oanda.com and you can trade gold. It is paper and the spread is 30 cents or so, but you can go long up to 50:1 I believe. Its better than paying paying for leverage though, and there is no time decay(options) or negative compounding(leveraged ETFs).