Advice on buying silver and gold.

[patton487]

Here's an idea

Buy up 10K in silver at current prices

Wait for silver to go to $200 an ounce

Sell the silver and pay off $100K morgage

Simple! No need to thank me......

 

[rhart]

My opinion on this is to have your basic needs covered as mentioned and buy some silver coins. I suggest buying coins clearly marked One Troy Oz Silver. And, I like the ones that can be broken onto quarter pieces. I think the guy that preaches all ammo and no silver is like the guy preaching all silver and no ammo. Have both. Silver coins are easily carried, concealed and stashed and they dont perish. I have been buying them on Ebay for about 16 dollars a coin shipped.
Dont get me wrong, cover your basis first, but there might be times when a Doctor for instance already has his food and protection all lined up and will appreciate a small piece of precious metal. Also, flashing a gold coin at a road block could get you by.
Good luck with your preps

 

[TiminMishawaka]

Also, flashing a gold coin at a road block could get you by.

Or get you searched.

 

[XtremeVel]

Or get you searched.

That could very well be the case. But in dire circumstances, I would still like to have a pocketful of old coins. I would just have to make the right calculated decision whether to attempt to buy safe passage thru that road block or not. My luck, they would be well fed UN troops and my canned goods wouldn't mean anything to them.

Diversify ! Whether you are thinking SHTF scenerio or strictly as an investment. I agree with the other posts, that it might be too late for gold. Now silver, might be a different story. But whether an investment or SHTF, I don't think you could go wrong taking a small percentage of the funds you normally invest or buy preps with, and buy silver.

 

[TiminMishawaka]

Fair point. I had in mind less "organized" road blocks than the UN (hard to imagine them coming to OUR aid though...) where a flame thrower would probably be more advantageous.

 

[XtremeVel]

Fair point. I had in mind less "organized" road blocks than the UN (hard to imagine them coming to OUR aid though...) where a flame thrower would probably be more advantageous.

I wasn't implying they would be here to aid us. I do have this vision of them being well fed though. Also I can see a possibility of them being open minded to being bought off. But again, like you said, that could come at a very high risk. A person would have to make the right decision.... Could be the last if he were to miscalculate.

+1 On the flame thrower idea.

 

[ChalupaCabras]

My advice is to stay away for the time being.

The time to invest in gold was a few years ago. The only reason Gold is cresting $1200 is artificial scarcity; too many people worried about politics and red dawn scenarios.

Eventually the fake demand will subside, or if demand lasts long enough production will increase to meet it. Either way your going to be left high and dry if you buy gold now.

Now is the time to SELL precious metals for a profit; its not the time to buy at future loss.

 

[Ol' Wiley]

If you feel you have all the basics, silver is going to go up more % wise then gold will anyway.

It's going to go down more % wise than gold as well. Silver is more volatile. PM's aren't the way to go right now. If you see the guys saying "BUY GOLD/SILVER/COPPER/etc NOW!" on tv, stay away from it... they're out to cash in on all time highs... just a rule of thumb.

 

[TiminMishawaka]

+1 On the flame thrower idea.

Thanks. It came to me as an after thought. Then I started thinking, wait a minute, wait a minute...

 

[TiminMishawaka]

My advice is to stay away for the time being.

The time to invest in gold was a few years ago. The only reason Gold is cresting $1200 is artificial scarcity; too many people worried about politics and red dawn scenarios.

Eventually the fake demand will subside, or if demand lasts long enough production will increase to meet it. Either way your going to be left high and dry if you buy gold now.

Now is the time to SELL precious metals for a profit; its not the time to buy at future loss.

I don't know if it's time to sell just yet. The full impact of ETFs really hasn't been realized yet, imho. It's going to be temporarily good...then very, very bad.

 

[4sarge]

My precious metal du jour is Lead

 

[XtremeVel]

My advice is to stay away for the time being.

The time to invest in gold was a few years ago. The only reason Gold is cresting $1200 is artificial scarcity; too many people worried about politics and red dawn scenarios.

Eventually the fake demand will subside, or if demand lasts long enough production will increase to meet it. Either way your going to be left high and dry if you buy gold now.

Now is the time to SELL precious metals for a profit; its not the time to buy at future loss.

Gold is too high right now, so I would have to fully agree.

I think where people get in trouble is they buy not realizing how much it has to go up before they can sell and just break even. Also, I think many buy with money that isn't totally indispensable. You only loose money if you sell... regardless of the current price. Being I buy just a few pieces ( silver) ea month, it's rather painless. Also, my hopes aren't so much as I make a nice profit, but rather I will never need it and hopefully pass it down to kids/ grandkids some day.

 

[tooleman]

I would invest in seeds any heirloom seeds I could get I would. If SHTF you can't eat gold sliver but can sell seeds food from seeds just my opinion.

 

[rhart]

Personally, at 23 years old, I figure there is not much I can do for a retirement.
One of the best things I did with my life was starting to save for retirement at the age of 18. Its never too early, and its rarely too late.

 

[christman]

I was just talking to this pirate buddy of mine the other day. He said eff the silver and gold and invest in some booty.