Anyone buy Gold or Silver?

[marksiwel]

Anyone have some Gold or Silver Coins/Bullion/Bars/Jewelry for "Just In-Case". If so where do you get yours?
I've got some gold krugerrands that I got from my Wifes Grandfather.
looking for some silver

[The Annoyed Man]

search ebay for "junk silver." If you are buying silver for "just in case" currency in the event of a social order collapse, then you'll want small denominations. That is junk silver. The prices will surprise you, as they are based on the value of the silver, not the face value of the coins.

Here is an example search: http://shop.ebay.com/?_from=R40&_trksid ... Categories

[marksiwel]

search ebay for "junk silver." If you are buying silver for "just in case" currency in the event of a social order collapse, then you'll want small denominations. That is junk silver. The prices will surprise you, as they are based on the value of the silver, not the face value of the coins.

Here is an example search: http://shop.ebay.com/?_from=R40&_trksid ... Categories

Thanks!

[stroo]

There are often silver and gold merchants at gun shows. I have bought a little that way. That is good for in your hands silver or gold. You can also by ETFs through a broker or online. If you are looking for a hedge against inflation as opposed to an emergency money substitute, the ETFs might be a good choice since it is easier to buy and sell than physical gold or silver. I hold some gold in GLD and some silver in SLV. There are other gold and silver ETFs that you can find through a google search.

[seamusTX]

If events come to a point where U.S. folding money is not accepted, you are going to have a lot worse problems than using precious metal for currency.

Non-perishable food, cigarettes, medicine, and petroleum fuels are going to be, um, worth their weight in gold. Primers probably would be priceless.

Make a list of the things that you use every day, from toothpaste to soap to toilet paper, and consider what you would be willing to trade for them if they weren't readily available.

There are survivalist forums where these issues are debated heavily.

- Jim

[aardwolf]

If events come to a point where U.S. folding money is not accepted, you are going to have a lot worse problems than using precious metal for currency.

Precious metals may be useful as a hedge against runaway inflation, but I don't think they would be worth a lot in a short term natural disaster. Most people probably wouldn't accept them for more than face value. Even if you can convince them they're worth more than base metal coins, good luck convincing them to accept your exchange rate. They have food, water, medicine, ammunition or something else with intrinsic value. Something you need. Silver or gold coins have value mostly to the extent they can be exchanged for things with real value.

If you are buying as an inflationary hedge, be aware that deflation is a very real possibility under Obama economy.

[seamusTX]

I should have mentioned, we do own some bullion coins (we being my wife and I, as this is a community property state). You have to pay sales tax when you buy them, so right there you throw away 8.25% of their value.

Then there's the problem of how to make change for a gold coin that is worth $500 or $1,000 in today's dollars.

There are strategies for hedging against inflation, which I am not even going to begin to discuss; but if the financial system goes under, all your stocks and mutual funds are going to be worth less than toilet paper.

- Jim

[aardwolf]

There are strategies for hedging against inflation, which I am not even going to begin to discuss; but if the financial system goes under, all your stocks and mutual funds are going to be worth less than toilet paper.

About the same as your mortgage, I think.

[seamusTX]

About the same as your mortgage, I think.

The plus side of TEOTWAWKI is that all your debts are canceled.

- Jim

[92f-fan]

There are strategies for hedging against inflation, which I am not even going to begin to discuss; but if the financial system goes under, all your stocks and mutual funds are going to be worth less than toilet paper.

About the same as your mortgage, I think.

and the house that secured it

[seamusTX]

A house and the land that it sits on are real property (I believe that is the legal term -- IANAL). If you can defend it, it's yours.

Real property has been the basis of material wealth for all of human history.

- Jim

[Paladin]

If you are buying as an inflationary hedge, be aware that deflation is a very real possibility under Obama economy.

Early on in the banking crisis there was the potential for deflation. With the banks now at 100% reserve ratio, Fed "quantitative easing", Fed monetization of the debt, and Trillion+ federal deficits the risk is now all on the inflationary side.

When you consider the $100 trillion or so of unfunded Federal liablities... it's not a question of if... but when.

[92f-fan]

A house and the land that it sits on are real property (I believe that is the legal term -- IANAL). If you can defend it, it's yours.

Real property has been the basis of material wealth for all of human history.

- Jim

Not arguing that real estate wont have some value - It will just not near the same. Just like your currency may still have value just not the same.

So if the financial system goes down and the money is worthless and you need to consider using silver or gold as currency,
Your $250,000 house will still be worth $250,000 ?

When no one can get a loan because there are no banks, the value of EVERYTHING changes.
Will you have the staff and resources to keep your real estate ?
Haw many trained shooters do you have to help you keep your property ?
While they are doing that who will hunt for food ?

Its all a theoretical discussion to me since I wont be here to see it, ( medically reliant on infrastructure ) but its interesting none the less.

[Keith B]

I think Jim is stating that 'real property' will be the only thing that has equity. Land, houses, buildings, cars, boats, balloons, etc. Now, their evaluation may drop with the economy, but they will still be tangible items where money and gold or silver may or may not have a value and be worth anything.

[seamusTX]

Not arguing that real estate wont have some value - It will just not near the same. Just like your currency may still have value just not the same.

So if the financial system goes down and the money is worthless and you need to consider using silver or gold as currency,
Your $250,000 house will still be worth $250,000 ?

It's a moot question. If U.S. dollars become worthless, the value of property becomes unknowable.

With depopulation, the value would be lower in a theoretical sense because of lower demand.

In any case, everyone needs a place to live, regardless of the monetary value of the property.

Haw many trained shooters do you have to help you keep your property ?
While they are doing that who will hunt for food ?

Just as today, the issue will not be stopping an endless invasion of mindless zombies. Security will be assured by creating the impression that your property is a hardened target that is too risky to attack.

I would expect an economy to emerge based on agriculture, low-level manufacturing, services such as medical care, and barter. Even if we couldn't produce computers or cell phones, the human race will not forget everything that it has learned.

Speaking of agriculture, mating pairs of livestock and poultry would become quite valuable. With the loss of petroleum fuel, it that happens, the beasts of burden would resume the role that they had in history.

Did I mention that I can train horses?
Oxen would not be much of a stretch.

- Jim