Alright, i think im ready to invest about $17k into Precious Metals, any advice?

[ClayTrainor]

Hi,

First, i need to point out that I am Canadian,

Secondly, I have a $17,000 in Canadian currency that i would like to transfer into precious metals.


I'm not entirely sure how i would like to spend this money exactly, but i would like to have it invested into something solid, like gold and silver so that i feel secure.

I would like to order the "Monster Box" of silver canadian coins for $7230

http://bullion.nwtmint.com/silver_mapleleaf.php

This is 500 oz of silver coins, and i think $7230 is a good price for that.


In terms of gold, i would like to just buy a 10 oz bar for $8,687.80

All in all, this would cost about $16,000.

This would also give me the freedom to spend an extra $1k on storable food.

I'm looking for advice. At what point in time should i buy? Is the timing good right now, or should i wait for prices to drop at some point?

Should i diversify these investments into other valuables?

What would you do with $17k (CAD) to invest?

 

[SnappleLlama]

I'd throw it into my IRA and wait thirty years

 

[hillbilly123069]

Good luck finding any this far into the game.

 

[pacelli]

Hey be careful with Northwest Territorial Mint:

Hi I purchased a 100 oz Bar of Silver from Northwest Territorial Mint for $1323.oo . Then they sent me a email on 08/20/2007 and said it is their policy to ship in 10 days and may take up to 30 days . Well it is past 30 days and I got worried so I looked up on the net and found many other people that had the same problem .

Here is a site I found http://goldismoney.info/forums/showthread.php?t=12590

This is FRAUD they hold our money for 1 or 2 months then invest it . Then they send the product. They said it is their policy to ship in 10 days This is a lie ! Look at how many other people they did this to . I still have not gotten my silver and they sent me another email saying it may not be sent out till October 12th . How can we stop them ? I am sure if they get investigated you will see they have done this to many people . Please Help stop them

they keep giving me the run-around and changing shipping dates

http://www.complaint.tv/northwest_territorial_mint-1027.html

 

[Archie]

hey I'm a fellow canucker aswell , here what I would do , I have strategy of buying on the dip and not over buying , for example today I might pick up some coins but I would at the most buy only 20 ounces of silver because while I see there is a dip you won't always predict the exact bottom of that deep so its better to be safe then sorry. For instance if ya bought that monster box for almost 8000 yes after today silver could go up a buck , but there is a good chance silver could dip into 10-10.50 oz in a day and you might lose hundreds of dollars or even a grand. If you plan to hold for a really long time I guess it dont matter to much the short term price. Monsters are great though and so are " junk silver bags" those are cheap and great for holding onto for 5- 20 years . Whatever you chose to do just add the worst case scenario to the decision and if it doesn't bug ya then pull the trigger. Out of the 17 grand I would still hold atleast 5 grand of it in cash to fiddle with.

PS how much is the shipping gonna cost, and how long is delivery from northwest?

 

[Deborah K]

Try and get junk silver for trading and maple leaves for wealth protection. Go to a local coin dealer if you can. And get a safe. Stock pile food and essentials as well.

 

[heavenlyboy34]

Try and get junk silver for trading and maple leaves for wealth protection. Go to a local coin dealer if you can. And get a safe. Stock pile food and essentials as well.

What's the best way to stockpile food? I generally by frozen/canned/boxed stuff for storage, but that inevitably spoils.

 

[enjerth]

Hi,

First, i need to point out that I am Canadian,

Secondly, I have a $17,000 in Canadian currency that i would like to transfer into precious metals.


I'm not entirely sure how i would like to spend this money exactly, but i would like to have it invested into something solid, like gold and silver so that i feel secure.

I would like to order the "Monster Box" of silver canadian coins for $7230

http://bullion.nwtmint.com/silver_mapleleaf.php

This is 500 oz of silver coins, and i think $7230 is a good price for that.


In terms of gold, i would like to just buy a 10 oz bar for $8,687.80

All in all, this would cost about $16,000.

This would also give me the freedom to spend an extra $1k on storable food.

I'm looking for advice. At what point in time should i buy? Is the timing good right now, or should i wait for prices to drop at some point?

Should i diversify these investments into other valuables?

What would you do with $17k (CAD) to invest?

Silver. Now.

Right now, silver is down $1.45, which is 11.5%. Gold is down 28, which is just over 3%. There's a lot more drama on the silver market than on the gold market, and silver is about 70:1 to gold, which historically it's been 50:1. There's a much greater chance for making big profits off of silver than gold.

Silver has had a low of $10.66 and a high of $20.92 this year, and it's still near that low.

Gold, on the other hand, has had a low $725.50 and a high of $1011.25, and right now we're not so close to that low. Yes, gold is on an upwards climb, but so is silver. Silver likely has a lot further to go up than gold has, percentage wise, which is all that matters.

 

[enjerth]

What's the best way to stockpile food? I generally by frozen/canned/boxed stuff for storage, but that inevitably spoils.

I think grains, in buckets, is likely the best. I've had a sack of wheat on my shelf for 4 years and I sprouted some for wheat grass just this week.

But the price of wheat is going up. Barley is still inexpensive.

 

[micahnelson]

1) Rent a self storage.
2) Buy toilet paper, Contact Solution, deodorant, feminine hygiene products, canned goods etc...
3) Watch people part with a Krugerrand to wipe their ass for a few more weeks.

PM's have value- but get serious. The uneducated masses are not likely to part with stockpiles of supplies for metals they cannot use. When there is a functional economy you'll do well by preserving wealth, but don't expect to get a cart full of groceries because you happen to have a shiny round coin.

 

[ClayTrainor]

hey I'm a fellow canucker aswell , here what I would do , I have strategy of buying on the dip and not over buying , for example today I might pick up some coins but I would at the most buy only 20 ounces of silver because while I see there is a dip you won't always predict the exact bottom of that deep so its better to be safe then sorry. For instance if ya bought that monster box for almost 8000 yes after today silver could go up a buck , but there is a good chance silver could dip into 10-10.50 oz in a day and you might lose hundreds of dollars or even a grand. If you plan to hold for a really long time I guess it dont matter to much the short term price. Monsters are great though and so are " junk silver bags" those are cheap and great for holding onto for 5- 20 years . Whatever you chose to do just add the worst case scenario to the decision and if it doesn't bug ya then pull the trigger. Out of the 17 grand I would still hold atleast 5 grand of it in cash to fiddle with.

PS how much is the shipping gonna cost, and how long is delivery from northwest?

Thanks for your insight, I'm not sure how much shipping would cost for this, i havent looked it up yet. When i ordered from NWT before, it took almost a month to receive my metals.

Hey be careful with Northwest Territorial Mint:





http://www.complaint.tv/northwest_territorial_mint-1027.html

Hey man, I've bought off of NWT mint before, and my Items came with no problems whatsoever.

This does make me worried when purchasing such a large amount though, thanks for the heads up.








Any chance that a MOD can move this to the Economics section? that's where i meant to post this!

 

[enjerth]

If you're thinking about saving gold/silver for bartering, think of how many items you'd be willing to spend $2,000 (2008 USD) on, if gold goes that high, and how many things would you expect to spend $25 (2008 USD) on, if silver goes that high. That's a quick answer for me: go with silver.

Pre-1965 quarters, too, for smaller denominations of silver.

 

[Pistis]

Silver. Now.

Right now, silver is down $1.45, which is 11.5%. Gold is down 28, which is just over 3%. There's a lot more drama on the silver market than on the gold market, and silver is about 70:1 to gold, which historically it's been 50:1. There's a much greater chance for making big profits off of silver than gold.

Silver has had a low of $10.66 and a high of $20.92 this year, and it's still near that low.

Gold, on the other hand, has had a low $725.50 and a high of $1011.25, and right now we're not so close to that low. Yes, gold is on an upwards climb, but so is silver. Silver likely has a lot further to go up than gold has, percentage wise, which is all that matters.

+1

You could also check out goldmoney.com They store the physical bullion (in audited vaults in London & Zurich) if you don't want to take possession, And the metal is convertible to cash in any of 4 currencies (USD, GBP, EUR, CAD) on which you earn interest in their cash accounts.

 

[enjerth]

Well, it depends on if you expect them to pass the "rescue" bill or not. I expect they will. Hold out until the day after or so. I expect a drop in silver and gold when the "market" regains faith. I don't expect it to last long, though.

 

[ClayTrainor]

Well, it depends on if you expect them to pass the "rescue" bill or not. I expect they will. Hold out until the day after or so. I expect a drop in silver and gold when the "market" regains faith. I don't expect it to last long, though.

would this rescue bill affect canadian metal prices as well?

 

[Original_Intent]

I think you should take at least half of it physical delivery.

The other half, send to me to "keep safe".

 

[tmosley]

Yup, old 90% silver American coins are very good. You can buy a loaf of bread and a gallon of milk for a dime.

If I were you, I would order from APMEX. They have been very good to me, and I have never heard of anyone having problems with them. Australian firms seem to be in more trouble for some reason.

Until recently, you could buy a bag with $US1000 face value of 90% silver coins on APMEX. It was quite a steal. I got $100 face value, myself. My next purchase is likely to be a bit of gold, on the off chance that some major power decides to go on the gold standard and drive prices through the roof.

 

[Deborah K]

What's the best way to stockpile food? I generally by frozen/canned/boxed stuff for storage, but that inevitably spoils.

Lots of canned stuff: veggies, fruits, meats, fish. I have a food saver that sucks the air out of the bags for grains, and beans, but lots of rice and beans, nuts. Water, powered milk, lemonaide, iced tea. Shampoo, razors, TP, soap, laundry detergent, medicines, vitamin supplements.

 

[newyearsrevolution08]

If I could locate it I would buy 90% silver and 10% gold. Silver can only drop so far and has a higher chance of moving up once the collapse gets worse, gold has alot further to fall AND that could mean LARGE losses.

I personally would go for 100% silver BUT everyone knows not to toss everything into just ONE asset. It never works out best in the end.

How to locate 12k in silver and 5k in gold? not sure...

I would call up apmex.com and let them know what you are wanting to spend and odds are they will work something out for you. Even when they don't have individual ounces of silver they STILL want those willing to spend money CALL THEM and see what they can do for each other.

I wish I had that kind of money to spend on metals, make sure and locate a secure place to store that stuff and please don't say a bank....

 

[nate895]

Hey be careful with Northwest Territorial Mint:





http://www.complaint.tv/northwest_territorial_mint-1027.html

I have the advantage of being able to drive to them and purchase it from them! Hahaha!