Same here. Trying to cover all bases.I have both in hopes to be covered either way.
Same here. Trying to cover all bases.I have both in hopes to be covered either way.
But seriously, although I don't remember each reply, I remember a thread where @BatteryOaksBilly asked the question (and I paraphrase), "Where would one keep $20,000?"
I could be off on the amount, but the question remained valid.
Where would you keep it?
We've seen the opinions on safes, so would you opt for a freezer, top of a closet, maybe a safe deposit box at the local bank?
This could a question for a sizable amount of coins and bars, too.
Dont just look for coin junk silver. Spring yard sales are fun to hunt sterling silver stuff from flatware to baby cups to candlesticks. Just do a little proof mark research and take a magnet to pretty much make sure you’re really getting sterling silver.I've been looking for 90% junk silver to try and purify. It's a much easier process than what I'm doing with the gold plate recovery. But everyone with junk silver seems to think they're sitting on unobtanium and have it priced over spot - for a metal with 10% impurities that have to be refined out at a cost.
I ain't telling . I think it is pretty ingenious, and I do have a couple of different locations... but I ain't telling. It is in my will, if that matters!How do y'all store your silver? Do you just throw it in your gun safe? Mine is in my garage so it would probably be easy for a thief to get into.
bingo! I am a terrible market player (I have gotten better over the years, but still....) I am a MUCH better investor in silver and gold. I have cost averaged a little and just done so consistently. It has paid off. I did "time it right" by getting in early when silver was under 5 dollars, but I also bought some when silver was 30 dollars +. I will buy more when it plunges and less above when it "rises" (right now that number for me is 30) but if you have none or very little ANY price down where we are is going to look good in 4 - 5 years.It spiked early AM and has been settling slowly. Relax, this is not a game of timing the market, it’s a game of steady buying plus finding the occasional bargain. Most of the benefit is in making your cash less liquid, so you save rather than spend it on tacobell, not in sudden appreciation.
Those have numsmatic value. Coin shops are "good" but NEVER let someone "take a coin back to the room where I have better magnification" if you don't know him. Darryls in Durham has been accused of that kind of shady crap, and the person accused him of swapping coins. Also, take the coins to multiple dealers. I myself would sell them and swap for bullion.This may be a little off the original post, but got me to thinking and looking, How would I go about getting an honest appraisal for some very old coins beyond junk value? I have silver dollars from the 1800's - mercury dimes - indian head pennies from 1900. Been reluctant to just walk in a coin shop for appraisal. So many variables. Any collectors could help here?
Help me out here... I keep hearing this about precious metals preserve wealth. How does that actually work in the event of a financial collapse? If the US Dollar gets devalued to the point where it takes the proverbial "wheelbarrow full of bills to go to the grocery store," how does owning silver or gold work? Do you go to the bank and cash in your 1oz silver bar for a wheelbarrow full of bills? Are banks even operating anymore? Does the grocery store accept your 1oz silver bar at some agreed upon conversion factor? I'm just not sure how it would all work.PMs are NOT "investments"
They don't pay dividends They don't create wealth. THEY DO NOT INCREASE IN VALUE (trust me on this one). They do nothing except SIT THERE AND PRESERVE WEALTH.... and that is why you should have some.
They are insurance and wealth preservers. Nothing more.
First rule of "investing"... know what you are buying and why.
HOWEVER, in an age where central banks have set the stage for the most radical devaluation of paper currency since Weimar, speculating with PMs is a more strategic decision for wealth preservation (and even wealth transfer) than you are going to get for the rest of your life.
Plastic peanut butter containers sealed with wax. Post hole diggers to bury. Spread metal shavings all over the property along with some pennies. They would have to dig up the whole area to find it.So… since you talk about spreading out cache, let’s talk burying things a bit.
Who done it and what do you need to insure contents are safe? Great idea and I have acreage that could take a lot of holes. Vacuum seal and put it in a pelican case?
Neither is anyone else.I'm just not sure how it would all work.
You have to decide what you want to protect against. I think Mad Max is so unlikely as to be a waste of time to contemplate. Some think we’ll have hyperinflation and devalue the dollar rapidly, I think it unlikely, but if it does happen the price for PMs should increase to offset the inflation, and then some. If you look at countries that have had this sort of problem, the citizens turn not to PMs, but to the US dollar as the place to preserve value. If the dollar is blown, nobody knows who will turn to what. Short of the Mad Max scenario, it’ll be good to have PMs, but if you aren’t worried that the sky is falling, jump into equities, earn 10% per year, and keep your fingers crossed that the cabal that runs the world keeps doing what it’s doing and lets us have the crumbs.Help me out here... I keep hearing this about precious metals preserve wealth. How does that actually work in the event of a financial collapse? If the US Dollar gets devalued to the point where it takes the proverbial "wheelbarrow full of bills to go to the grocery store," how does owning silver or gold work? Do you go to the bank and cash in your 1oz silver bar for a wheelbarrow full of bills? Are banks even operating anymore? Does the grocery store accept your 1oz silver bar at some agreed upon conversion factor? I'm just not sure how it would all work.
Despite what's in some of the post-collapse novels, I don't think that silver will become something to barter with. It seems to me other things, like food, medicines, ammo, etc. would be more valuable. Unless there's some local warlord that wants to collect silver and gold for his own amusement.
So would I 🤣Plastic peanut butter containers sealed with wax. Post hole diggers to bury. Spread metal shavings all over the property along with some pennies. They would have to dig up the whole area to find it.
In the event of an UTTER collapse where there are no financial structures at all and rule of law collapses and you go into savagery... it doesn't. The paranoid fantasies of sitting up in the mountains waving an ak and screaming "WOLVERINES" is what the person who is expecting that should aim for, and that means barter only. Bullets, bandaids, grub, medicine, whiskey, condoms, BASIC SKILLS (small motors and electricity will rule, imo)... other people have made lists, including JW Rawles.... He has a whole book of them.Help me out here... I keep hearing this about precious metals preserve wealth. How does that actually work in the event of a financial collapse?
The banking system is in a convulsion in times like that. Some fold up. I would NOT go to a BANK to redeem gold and silver. I would recommend reading a little from Ferfal, a guy who went thru a collapse in Argentina. One simple thing to remember. People want stuff. People are willing to swap stuff for stuff. TRUSTED CURRENCY is the medium they will use to get stuff. Right now, people trust dollars. If and when that goes "poof" they WILL seek some other medium with which to deal. What if a guy has potatoes and I want them, but he does NOT want what I have for barter, which is whiskey, or .22 lr ammo? What then? Enter "trusted medium of exchange." Gold and silver have worked for 6,000 years of recorded history, although various other entities have, as well, including pepper, salt, whiskey, ammo, cigarettes, corn, and even rocks. I have placed a strategic bet on gold and silver.If the US Dollar gets devalued to the point where it takes the proverbial "wheelbarrow full of bills to go to the grocery store," how does owning silver or gold work? Do you go to the bank and cash in your 1oz silver bar for a wheelbarrow full of bills? Are banks even operating anymore? Does the grocery store accept your 1oz silver bar at some agreed upon conversion factor? I'm just not sure how it would all work.
Silver is not a bartering agent. It has some industrial usefulness, but if it becomes a unit of exchange it will be because IT FITS ALL THE REQUIREMENT OF MONEY.Despite what's in some of the post-collapse novels, I don't think that silver will become something to barter with. It seems to me other things, like food, medicines, ammo, etc. would be more valuable. Unless there's some local warlord that wants to collect silver and gold for his own amusement.
Pretty much what I figured, but I thought I'd pick the brains of some of you guys that have studied it and thought about it a lot more than me to see what you think is most likely.This is a game where you place your own bets. Good luck to you.
Likely the Saudi Arabia announcement cutting Europe/U.S. oil supplies and reducing oil production and some announcements from yet more countries dropping the dollar end of the week last week/weekend I guess. I mean even Kenya urges citizens to get out of the dollar… lol KenyaWhy the jump today? What happened that caused it? I haven't seen any news. Usually every time it goes up there's a corresponding event like a bank failure.
People will give their theories.Why the jump today? What happened that caused it? I haven't seen any news. Usually every time it goes up there's a corresponding event like a bank failure.
YepPeople will give their theories.
This discusses some of what's been happening: https://www.zerohedge.com/markets/g...ak-jobs-manufacturing-data-rate-cut-odds-soarWhy the jump today? What happened that caused it? I haven't seen any news. Usually every time it goes up there's a corresponding event like a bank failure.
It's down about 10% from it's fall peaks, but still higher than it was for much of 2020 and 2021.Checked DXY lately? It is the symbol of the US dollar index. It will tell you more than listening to someone one the internet, including me.
You confused me on that. It was almost 2100 in 2020.Also, Gold has broken 2000 for first time in 41 years. 40 or so dollars away from all time high.
2075 is athYou confused me on that. It was almost 2100 in 2020.
Good point. Crackheads do trade stolen gold for drugs.In a discussion group about various things and the idea of when the 'digital dollar' takes over and paper money is gone, what would replace it. Barter comes up, but the #1 user of cash isn't going to accept cans of beans or chickens, they'll want something portable. The drug cartels are not going to go "ah well, we can't sell drugs anymore because no one has dollars to buy them". They'll come up with something. One theory I had was that when the USD is outlawed except in digital format (and ultimately traceable because untraceable digital isn't what the .gov is all about) then perhaps another existing physical currency will come into use. Drugs being sold for euros, pasos, whatever and then those start circulating around the US and is accepted by more and more people as 'real money' vs. something you convert to USD to spend. Maybe silver becomes that currency?
Does a 1oz silver coin line up with the typical street level drug purchase?
This is why I think the death of the physical dollar is overblown, without it we’ll just start using something else. Might not be able to buy with euros at a mall store, but maybe. The big corporations accept foreign currency in other places, no reason not to do it here, the computers can do the math.In a discussion group about various things and the idea of when the 'digital dollar' takes over and paper money is gone, what would replace it. Barter comes up, but the #1 user of cash isn't going to accept cans of beans or chickens, they'll want something portable. The drug cartels are not going to go "ah well, we can't sell drugs anymore because no one has dollars to buy them". They'll come up with something. One theory I had was that when the USD is outlawed except in digital format (and ultimately traceable because untraceable digital isn't what the .gov is all about) then perhaps another existing physical currency will come into use. Drugs being sold for euros, pasos, whatever and then those start circulating around the US and is accepted by more and more people as 'real money' vs. something you convert to USD to spend. Maybe silver becomes that currency?
Does a 1oz silver coin line up with the typical street level drug purchase?
You have to decide what you want to protect against. I think Mad Max is so unlikely…
Which would likely only made worse by the degree of affluence they’re accustomed to.People have this crazy idea that humans, by nature (especially in America, the land-o-plenty), are “good” and/or “moral”…
That ain’t the case…at all and every one of us should hope/pray we never have to see it.
Which would likely only made worse by the degree of affluence they’re accustomed to.
And given the total dependence upon imports. The until it ain’t is a serious reality.“It’ll always be there”…until it ain’t.
I keep saying and will keep saying, there are two types of collapse. A.) Total societal collapse, and B.) Monetary collapse. One can cross into the other. I've spent years prepping for total societal collapse. The folks on this forum are probably in the top 1%, in this country, for that scenario. I'm to a point that I'm about as prepared as I can be for that scenario, in my current position. Now, silver is my current focus, simply preparing for a collapse of the dollar, while society continues to remain "mostly" peaceful. Example being the fall of the USSR.Same, until folks start going hungry. “Never here…we lived in a civilized society!”
No, we don’t. “Civilization” is a veneer and it’s a really thin one. If people are willing to stampede and trample others the day after Thanksgiving over a television or have a fist fight over a package of toilet paper, what levels of ruthlessness will they sink to when they or their kids have not eaten in 4 or 5 days?
People have this crazy idea that humans, by nature (especially in America, the land-o-plenty), are “good” and/or “moral”…
That ain’t the case…at all and every one of us should hope/pray we never have to see it.
Desperate = dangerous….don’t ever forget that.
Politicians could have fixed it years ago;
Who needs to buy silver and gold when just talking about it pays off for you! Nice work.Just wanted to thank everyone for this thread. Had the gold/silver conversation with my wife. To which she replied, "Nobody gives an *expletive* about gold or silver when SHTF. Guns and ammo are where its at."
So through the transitive property, this thread allowed me to buy two new guns in the past two weeks. Keep doing God's work, fellas.