precious metals question

Discussion in 'General Discussion' started by cycloneman, Nov 8, 2012.

  1. GunnyGene

    GunnyGene New Member

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    As long as we're talking money stuff, it looks like the predictions of a market crash if Obama won are coming true. Today is likely going to be another downer, which would make 3 in a row. Traders sound like they are starting to panic. http://money.cnn.com/
  2. Plinked

    Plinked Member

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    Just sold the last of my 16, 1oz gold rands that I bought way back when for $325ea. As far as silver goes I bought 4, 50+oz bars of the stuff back then to for $5.75oz. I've been told that silver has a better chance of doubling its value then gold does right now so I plan to hold on to it for the next few of years to wait and see....you never know!
  3. Millwright

    Millwright Well-Known Member

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    Well silver is OK,but I don't think the prospects of a werewolf infestation is likely. IMO, too much of it is lurking in metal miners' vaults. Ask the Hunts.
    OTOH, I'd look close at the "rare earth" markets. Super magnets and cache alloys are among the uses for these "fractional metals". Gold and silver have some industrial/consumer use but the recovery rate is high. Gold is still cheaper (in constant dollars) than it was in first Reagan era. >MW
  4. soundguy

    soundguy Well-Known Member

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    i'd be looking at other precious metals.. like brass, copper and lead...
  5. aandabooks

    aandabooks Member

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    Since I lost faith in my IRA, I've been diversifying my expendable in silver, lead, brass and tubular steel.

    Since I left my old company I don't have my 401k anymore. It is now in an IRA and my current pension is under the control of the State of Illinois. I'm not super happy about that.

    I've been buying silver not for a collapse but as a hedge against inflation. In case of collapse that is what the guns, ammo, food supplies and other supplies are for. Silver would be for wealth after the collapse. I have sold silver at profit to buy guns and sold guns to buy silver.

    For the OP, do some research and when you've done some reading only then should you buy. Stick with either ASE bullion or 1964 and earlier American coinage.
  6. FlashBang

    FlashBang Member

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    If SHTF and I need gold, I will just take a trip to the city and take it from some welfare collecting hood rat. Between the chains, bracelets and grills in their mouths I should be able to amass a small fortune. ;)
  7. soundguy

    soundguy Well-Known Member

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    killoing for protection is one thing.. killing for wealth is another...
  8. Marlin T

    Marlin T Active Member

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  9. ampaterry

    ampaterry *TFF Admin Staff Chaplain* Staff Member Supporting Member

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    For a SHTF scenario.

    1. Food and goods for yourself and your family.
    2. A means of ensuring that 1 remains safely in your possession; guns and ammo.
    3. For the first few weeks, barter goods. Bags of rice, beans, etc. which you can use for trade with those having things you can use, but needing food. A few extra bags for purely humanitarian giving may be stocked up also.
    4. For a later time, precious metals for trade, which was your original question.

    Gold is good for compact storage of large amounts of $$, but should NOT be your only investment; if you come across a guy that is baking GREAT bread, you won't want to try to pay for one loaf with gold! For things like this, you need MUCH less valuable exchange means, like silver. Junk silver (no numismatic value) is perfect for this.

    Where do you buy these?
    MANY jewelry stores also deal with gold and silver. Open your yellow pages to "gold"
    and you will probably find several.

    I used to be heavy into gold; krugerands, maple leafs and panda's.
    Sold it to survive when I was forced out of my job for whistleblowing.
    Now just a bit into silver, but have 1-3 covered well.
  10. rcairflr

    rcairflr Well-Known Member

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    I hope you changed your mind and didn't buy any silver. The picture below shows the 6 month price in silver and it is at $21 today.

    Attached Files:

    Last edited: May 20, 2013
  11. carver

    carver Moderator

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    I have a question for all of you that have invested in silver, and gold. I have something for sell, and you want to buy/purchase, I don't know anything about either silver, or gold, so do I accept your silver/gold for a transaction once the SHTF?

    First off I wouldn't know silver/gold from anything, and I have no way to test it to see if it's fake, or not. If I trust you and let you have the item/items, what then do I do with the silver/gold?
  12. rcairflr

    rcairflr Well-Known Member

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    If the world was in a SHTF situation, I wouldn't give a drop of water, a grain of rice, a single bullet or a single carrot seed for a ton of silver or gold.

    So I think I agree with Carver on this one.
  13. Oldeyes

    Oldeyes Member

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    Interestingly enough, pre-'64 90% silver US coinage is generally acknowledged to be a good entry level product for someone interested in PM's as an inflation hedge or a post SHTF barter item. Due to the basic low denomination nature of the used and well shop worn US small face value silver coinage, the chances of getting stung on counterfeit pre-'64 US silver coinage is pretty minimal and the silver coinage in this form is almost universally recognized and therefore easy to use for barter based upon the then prevailing silver content value. As a purchaser financial bonus, the dealer override/markup on pre-'64 US silver coinage is about as low as it gets. As of mid day today (5/20/13) with 99.99% pure silver currently trading at around $23 per oz., $1.00 face value of pre-'64 US silver coinage (containing approximately .72 oz. of silver) sells for $19.22 (as per the current online purchase quote on providentmetals.com ).
  14. nmckenzie

    nmckenzie Well-Known Member

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    Many, many years ago I worked with guys who'd lived through SHTF times in Eastern Europe, first under German, then under Soviet occupation. They had their own take on the value of gold and silver, and to an even greater degree diamonds and the like. They didn't think of these metals or jewels in terms of obtaining food - if it came down to that they simply would've taken it, probably killed for it, and suffered the consequences if caught. Their precious metals and gems were the currency of overlooking things that for us would be a simple OOPS! or ARGH!, such as an expired document, license, passport etc., a major inconvenience at worst, but for them it could've meant a trip to the local lockup for further investigation. Guess the value of gold and whatnot depends on your perspective of what a SHTF situation is.
  15. carver

    carver Moderator

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    I can understand that, it was a whole different situation back then in Europe. You could drive from one country to the other in a few hours, or walk it in a few days. Pasports, documents, and licenses, were required for any travel at all during, and after the war. When I was a youngster my mother had an older friend that was in Germany during, and just after the war. She told of men with wheelbarrows full of German marks, and no one would sell them a loaf of bread. That is not going to be the situation here. Paper money may, or may not be usless, but I ain't going anywere anyway. No travel at all, unless it's to one of my neighbors houses.
  16. Gsbuickman

    Gsbuickman Member

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    Last edited: May 20, 2013
  17. rcairflr

    rcairflr Well-Known Member

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    The Federal reserve does not print money, they manage the liquidity of capital that allows borrowing and currently it is at $85 billion / month. So far we have not seen any runaway inflation that some of the internet bloggers that you quote have predicted for years.

    As fast as the Fed is making easy capital available, they can shut it off by raising the Feds Fund rate.

    Most of us live in the real world and have to manage our day to day investments assuming success not failure. If all you are buying right now is hard assets, you will be in for a real shock when retirement comes and gold is back to $240 and silver at $5 and you bought it from the high of $1900 until now at $1350 and you only have 20% of the money you invested and as such have no chance of retiring.

    There is nothing wrong with owning some gold and silver, but you still have to be a smart investor and buy it at the right time and now is not the right time. It is still too high and will go lower.

    As far as paper money being worthless, don't hold your breath waiting on that to happen, because it ain't happening anytime soon and probably won't happen in most of our life times. Ben Bernanke has done a marvelous job of handling this economy coming out of the recession and if the Congress and El Presidente would have done their part, we would be roaring at 4% gains per year in GDP instead of 1.5%.
  18. Gsbuickman

    Gsbuickman Member

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    Are you eating magic mushrooms ?. The federal reserve is owned d operated by the London bankIntl crim syndicate. Washington, the district of columbia is also owne by the banking cabal. Have you heard of the orgai act of 1871 when foreign bankers seized control of our fiscal system & the nation.

    Every nation on the planet have left the us fiat$, and have went to the Chinese yuan. The un is caing for a new intl currancy, because o one is acceptin the us fit $ for debt any longer.
    Last edited: May 20, 2013
  19. siplace

    siplace New Member

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    It depends on what you want it for.

    There are many different values to gold and silver.

    The only one I am familiar with is in a SHTF prep situation.

    For a prep in my opinion what you want is what is known as junk silver. These are silver circulation coins minted 1964 and before. These are called junk silver because they have no numismatic value but they do have the value of their silver.

    Mostly these coins are 90% silver and 10% copper. Some silver half dollars are 40% silver and some dollars are 99.99% silver.

    I stick with dimes and quarters to avoid getting mixed up. The advantage of these coins is that they are a measured and known quantity of silver. As a general rule of thumb you can use the 140 rule. Any combination of 90% silver quarters and dimes that total $1.40 face value contain roughly 1 ounce of silver. You can add some half dollars to this rule of thumb but not all so to keep it simple I stay away from the halfs and the dollars.

    Dealers use the following formula to determine the value of a given coin.

    Spot price of Silver * .0321507466 * Weight of the coin in Grams * (Silver Composition/100).

    If you BING " 90% silver coins " you will get a long list of web sites that have tons of information that you need to know before getting into this area of prepping.

    You will also find loads of information from the experts and all of the charts and graphs you can look at.

    Go slow, take your time and research research research.
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