Gold Breaks $700!
- Thread starter WannaBfree
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WannaBfree
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oh, forgot to mention - many are advising against gold stocks, etc. It's also paper - like Federal Reserve notes. The advice is to get physical gold and silver, and get whatever gives you the most for your money. "Junk" silver (pre-'64 US coins) is usually the best bet for silver.
If you stick with only 1oz gold bullion coins, they may be worth quite a lot of money in the future and may be difficult to use in a bartering situation. "Got change for $2,000?"
If you stick with only 1oz gold bullion coins, they may be worth quite a lot of money in the future and may be difficult to use in a bartering situation. "Got change for $2,000?"
WannaBfree
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that is if nothing "unusual" happens
aravoth
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So what is the best way to go about buying silver or gold? I'd rather actually have physical possesion of the metal. I went to a local coin store today just to buy some 1oz rounds of silver, but someone had went in before me and bought it all. Only thing the had left was "junk" silver. I can't really afford gold, but I think silver would be a good asset.
Is there some other place to purchase it? Maybe even from a reputale online store? Or is there anywhere else I should be putting my money? I'm a hard asset kind of guy.
Is there some other place to purchase it? Maybe even from a reputale online store? Or is there anywhere else I should be putting my money? I'm a hard asset kind of guy.
WannaBfree
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You get the most silver for your money with "junk".
You can get silver online - you should check around a bit but these guys (reputable) had the best prices last time I looked:
http://www.golddealer.com/
I have heard that you have to be careful with the silver bars. Sometimes they are drilled and then filled with something. Not a very handy size either.
Food prices will probably continue to go up. It's sort of an investment by saving you money later. And it's insurance, should there be any disruptions in delivery. By food, I mean canned, dehydrated, storable, you know, that emergency stuff.
It really all depends. Is it to make money, to survive, to barter... Either way, you'd probably be doing yourself a favor by getting rid of them dollar notes or bank digits. Plus it's kinda fun to follow the market then
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Burt Blumert is my guy (Camino Company). Negotiable premiums. Publisher of lewrockwell.com. Friend of Ron Paul.
http://www.lewrockwell.com/blumert/burt-gold.html
Tip: Purchase in daily amounts < $10,000, say $9,000 to avoid currency transaction reporting with the IRS. Also, read up on the benefits and costs of numismatics. This is just the basics.
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governmentwaste
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Gold Euro Oil
The dollar may go down, but the euro will benefit. The world will continue with paper currency. Gold/silver is only one part of balance.
The big problem is the US dollar as the reserve currency. This will be adjusted with time, at the expense of the dollar.
A dollar crisis will be nothing compared to peak oil.
The dollar may go down, but the euro will benefit. The world will continue with paper currency. Gold/silver is only one part of balance.
The big problem is the US dollar as the reserve currency. This will be adjusted with time, at the expense of the dollar.
A dollar crisis will be nothing compared to peak oil.
Omnis
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Original_Intent
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Silver to gold ratio is historically something near 30:1.
I would guess that gold is a lot higher now is because you can pack an extreme amount of value in small space/weight so it is more portable if you have to head for the hills. Also gold has been being pushed for a few years as "the inflation hedge".
If we end up actually using gold, silver is going to be of value as a way to break gold down into smaller denominations (at current prices even 1/10 ounce of gold is $70, how would youlike it if the smallest denomination of money was $70.
I actually think silver is a much better investment right now due to it being relatively undervalued to gold. That's just my opinion, not financial advice.
Original_Intent
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I am not sure if Kitco actually deals in buying and selling the metal, however they would certainly be reputable. I think they might be the ones that ship your silver in plastic buckets marked "Machine Parts".
www.kitco.com
Yeah, they do deal in buying and selling bullion gold, silver and platinum, as well as coins.
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markpa
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You can buy directly from Kitco here is the link: https://online.kitco.com
I may have made an error because I had bought Silver Eagles a few years ago. Looking back I probably should have bought "junk silver" to avoid the huge premium but I didn't know much about silver and I thought the Eagles were "safe."
Anyway look at the Gold and Silver charts @ kitco and you can see that versus holding dollars PM's are always a good idea.
I may have made an error because I had bought Silver Eagles a few years ago. Looking back I probably should have bought "junk silver" to avoid the huge premium but I didn't know much about silver and I thought the Eagles were "safe."
Anyway look at the Gold and Silver charts @ kitco and you can see that versus holding dollars PM's are always a good idea.
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