To those who bought gold...

sevin

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Joined
Oct 6, 2008
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4,648
Where and how did you buy it, and if TSHTF, where would you sell it?

I know there have been some threads on this, but they must be buried and a search for "buy gold" doesn't turn up much.

What is your favorite company to buy gold from, and how to you plan to trade it for food/money? (the 2nd part of the question is critical)
 
If things get bad enough, black markets will spring up where you can spend your gold and silver.

I get most of my metals through apmex, some through a local dealer.
 
If things get weimar republic bad, you'll be able to buy whole buildings and factories with it
 
Then the bureaucrats will tax it to take the rest of your gold.

This is why I wonder if it's even worth it. Eventually they could force people to trade in their gold for a fixed price. Seems like the only option might be to get the gold without leaving any traces (online receipts) and later trade it on the black market.
 
Move on

I have moved on from PMs and have traded it all for tools and equipment for generating energy, harvesting food and water, and providing useful goods and services to the commmunity in a post-collapse subsitence economy.

I still think gold and silver will be useful, but I think a long-term strategy now calls for gearing up for making a living in a third world economy.
 
Where and how did you buy it, and if TSHTF, where would you sell it?

I know there have been some threads on this, but they must be buried and a search for "buy gold" doesn't turn up much.

What is your favorite company to buy gold from, and how to you plan to trade it for food/money? (the 2nd part of the question is critical)
I plan on eating mine -- the cool thing is that with gold you can do it again and again and again -- they're like everlasting-gobstoppers that you can swallow!
:D
_________________________________________________________________

But to get serious, Gold coins aren't what you would want to use to trade for food anyway (even NOW with Gold undervalued, you'd need to get a small truckload for a single ounce). No, in a SHTF scenario, Gold coins are what you would trade for a house, or a farm, or a factory, machine tools, etc... or transport to another country.

You don't expect to be able to use your 401K account records or large cashier's checks to buy a single loaf of bread at the quickie-stop, or a meal at a local diner (most of them don't even want $100 dollar bills).

My point being that Gold coins are a way of preserving major amounts of one's assets in an compact, portable form that is not subject to either physical deterioration nor inflation/devaluation. And even then, putting more than 20% of your assets in gold is probably unwise... because gold is not a "performing" asset (it just sits there, staying shiny ...and exactly the same weight and size as when you plunked it down.)

If you don't already have
substantial savings -- such that you have sufficient assets and other items already that would pay or trade for food -- then gold is probably not for you not yet anyway (I mean no disrespect by that, simply that buying a single coin or two won't do much for you, other than become a royal pain to cash in when you want to get the value back out of it). Better to first stock up the larder with canned goods & dried foods (stuff you can and WILL eat regardless of whether TSHTF or not). Then invest in skills, tools, etc. (The guy's advice above on "energy generating" is good -- as is owning land you can use to grow a garden and fruit trees, or raise chickens, rabbits, or even goats on.) Once you've done all that and still have excess money -- then some gold coin is a good hedge against SHTF fears.


As to WHERE people buy gold coin -- most who do so don't like to answer that (and especially not on public forums) any more than they like to answer questions about how much gold coin they have, or (even worse) questions about where they store it if they have it. And these days a lot of people's individual favorite places have little or no gold coin to sell... so past experience with a vendor isn't reflective of current status.

With all of that, the best places to buy are typically local coin shops (which of course change depending on where you live) -- and then there are many reliable vendors online, Google can help you find some but I'm afraid you are on your own when picking which company you eventually decide to do business with (many people I know choose & use more than one).

Sorry if that doesn't fully satisfy -- but in some things you need to do your own research and cannot rely on others to give you easy answers -- this is one of those situations.
 
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I plan on eating mine -- the cool thing is that with gold you can do it again and again and again -- they're like everlasting-gobstoppers that you can swallow!
:D
_________________________________________________________________

But to get serious, Gold coins aren't what you would want to use to trade for food anyway (even NOW with Gold undervalued, you'd need to get a small truckload for a single ounce). No, in a SHTF scenario, Gold coins are what you would trade for a house, or a farm, or a factory, machine tools, etc... or transport to another country.

You don't expect to be able to use your 401K account records or large cashier's checks to buy a single loaf of bread at the quickie-stop, or a meal at a local diner (most of them don't even want $100 dollar bills).

My point being that Gold coins are a way of preserving major amounts of one's assets in an compact, portable form that is not subject to either physical deterioration nor inflation/devaluation. And even then, putting more than 20% of your assets in gold is probably unwise... because gold is not a "performing" asset (it just sits there, staying shiny ...and exactly the same weight and size as when you plunked it down.)

If you don't already have
substantial savings -- such that you have sufficient assets and other items already that would pay or trade for food -- then gold is probably not for you (yet anyway). Better to stock up the larder with canned goods & dried foods (stuff you can and WILL eat regardless of whether TSHTF or not). Then invest in skills, tools, etc. (The guy's advice above on "energy generating" is good -- as is owning land you can use to grow a garden and fruit trees, or raise chickens, rabbits, or even goats on.)


As to WHERE people buy gold coin -- most who do so don't like to answer that (and especially not on public forums) any more than they like to answer questions about how much gold coin they have, or (even worse) questions about where they store it if they have it.

The best places to buy are local coin shops (which of course change depending on where you live) -- and there are many place online, Google can help you find some (but I'm afraid you are on your own when picking which company to do business with).

Sorry if that doesn't fully satisfy -- but in some things you need to do your own research and not rely on others to give you easy answers -- and this is one of those situations.

No, that's a pretty good answer. Thanks.
 
imho if the SHTF then it's too late to sell gold/silver unless you can get it out of the country or already have it out of the country. You might barter it with others who hope to get out of the country or can sell it to people outside the country.. but things like whiskey and wine are good for bartering too.

I'm hoping to sell most of mine at some point and keep the rest (old coins are nice to have around..) and put the money into good tools and raw materials (like steel and aluminum for making stuff) which I'll use whether SHTF or not. The scrap yards are filling up with good scrap steel and aluminum now and the prices are going down so it's almost time to go shopping.
 
http://www.allamericangold.com/

call them up... 1-800-951-0592.

listen to their radio show

http://patriotarchives.blogspot.com/

(i live in canada, so i can't order from them... but if you live in the US, these guys will send you the best stuff. i go to a local coin store, and you can also buy gold directly from the major banks in Canada, only at their main branches).

That radio show is great. Found them on youtube 'patriot news hour' a couple of months ago. Pretty damn funny too.
 
thanks to eric_cartman and linux. Those are just the kind of sites I've been looking for!
 
That radio show is great. Found them on youtube 'patriot news hour' a couple of months ago. Pretty damn funny too.

ya... i listen to them everyday now. really funny show! and even though they're the two dumbest guys in America, they are better at forecasting the economy than almost anyone else i've listened too (maybe with the exception of schiff).

We've got this guy Not Sure.
 
Right now I'm taking advantage of the Live.com 25% cash back offer and getting my metals through eBay. Even with the sellers jacking up their prices one can still find all kinds of popular numismatics under spot, shipped and insured. There are a number of conditions/restrictions but Microsoft is basically giving away free money.
 
Right now I'm taking advantage of the Live.com 25% cash back offer and getting my metals through eBay. Even with the sellers jacking up their prices one can still find all kinds of popular numismatics under spot, shipped and insured. There are a number of conditions/restrictions but Microsoft is basically giving away free money.

Thanks for pointing that out. I was looking to expand my gold position, and it looks like this will be a fine way to do it!

If it is still going on next month, I'll get more silver too.
 
Bump.

Another question I have for those who bought gold: How important is it to hide the paper trail? A lot of people are using cash to buy gold and silver at coin shops because of fear that the government will confiscate it. But is this very likely? And even if they do confiscate it like the did in the 30's, they'll still pay you whatever it's worth, right?
 
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