I think I want to buy physical gold.

yeah cause the survivors will be so happy to have "MY PRECIOUS" and not care about food or shelter or defending themselves. I suppose you could eat your little nugget o gold or throw it at the hungry mob chasing you.


seriously people if it gets to that point the only currency will be the amount of firepower you have to defend your rations or go take others rations. gold will not feed you or protect you.....

 

Well, the ones that have it will very likely reestablish a society with a means of trade, historically that has been gold.

Unless your idea of survival is being the last man on earth, then yeah, gold won't do you any good.

I wouldn't invest in precious metals at the expense of survival preparedness, but to say it's stupid to accumulate pm's instead of wads of flammable linen with green dead dude's faces on them, well, I guess I'll take your share of the metal and you can have my US Mint toilet paper. :up:

 

What good will the folded up notes in your pocket do after the fall?

Hmm?

 

Well, I'm not an investor. I'm also not prepared to sell off everything. I still want to have fun and live in a home and drive to work, but I do want to take the extra cash I have and preserve it the best that I can. The 1% interest I earn isn't keeping up with inflation.

Anyone have any experience buying it?

 

It's heavier then you think

 

Yeah, but apparently that makes me stupid...

 

This is really why I want it. Gold is forever, but I want to buy some from a trustable source.

 

I'll keep that in mind.

 

That's why buying numismatic fracs is what I'd recommend (if gold is what you want). Swiss francs, Kruggerands, Gold Eagles, Gold Maple Leafs, they're all going to be a consistent purity and a near-consistent weight. You will pay a premium over spot for them, but they're not likely to be counterfeit (I've never heard of any personally...mass and volume are hard to fake at fractional oz levels).

I still prefer silver non-numismatics for general squirrelling away. Unlike gold, silver does have some use beyond being a shiny metal (and may be quite handy in a SHTF scenario).

 

Well, no. What you should keep in mind is this:

Why do you think there's infomecials on buying physical gold Beer? Because it's a sound investment?

It's not.

 

(Reason 1)
With no currency, with what are you gonna sell your gold? The amount you paid for your gold before the collapse will by a long shot not equal the goods and services value, you'll have to trade it for after the collapse and no one will want it because it wont really serve any purpose during this time. Meaning for example most people will be forced to trade $1000 worth of gold for $5 worth of food. Well people might argue "You can use gold for electronics and other things." I say who's gonna work at the electrical plants without a paycheck? The only electricity being made are survivalists who own windmills in their back yard and seriously how many of you have those?
(Reason 2)
People will argue, gold will have to return to currency. I argue, who's gonna mint all those gold pieces for free? Remember when the currency collapses nobody is getting paid anymore so why would US mint workers waste their time working for free? Everybody is gonna be busy guarding their food supply. Food will be the new currency. People who are not self sufficent will end up having to help people who are in order to survive.
(Reason 3)
The government wont create a new currency. Everybody thinks the Illuminati will introduce the "Amero" at this time. Those people who are the Illuminati network won't do anything without getting paid. They are going to be hiding in their Apocolyspe bunkers that they paid billions of dollars to reserve a room in the mountains. Once the dollar collapses everything and I mean everything will shut down. The gasoline will dry up in 2-3 days, food will dry up quick, nobody will work a job including the goverment workers. In these conditions the last thing on people's minds will be fancy jewelry or precious metals. The first thing will be how can they eat another meal and live another day. Everyday, people will get shot/killed for stealing food. You can't eat gold you know.
(Reason 4)
The dollar is currently the worlds reserve currency. The reason in history for thousands of years that gold always returned it's value after a paper money collapse is because it happened in a time when world reserve currencys didn't exist. What this means is formerly when one country's currency died, another would just take over. However in this case, the currency currently dieing is the currency that all other countrys currencys are backed upon. Meaning if the dollar dies here, it takes down every countries currency that based their own currency's buying power or value upon the dollar.
(Reason 5)
Manufacturing and mass production stops. With nobody working because their paycheck is now just worthless paper, gold will cease to have a material or useful purpose. I mean seriously, what are we gonna use it for?
buy as much seeds and non parishable foods items as you can and bury it in containers in the ground to hide it. Remember people will be getting killed over food so you'll be able to get anyone to work for you in payment for food. Nobody will have any reason to want gold after the collapse. I predict when it happens this may very well be the end of money all together and the beginning of what Gene Roddenbury tried to portray when the character Captain Picard said "There was a time in history when the world gave up on money and decided to all work together for the common good." Those who survive who be forced to live by this method. Meaning we will all become farmers and fisherman to feed our communities.

 

so it is an investment... oh and gold is not forever... it's diamonds are forever


Gold is a currency hedge ie and investment. If you are really worried about the collapse of society gold will be worth the same as the paper in your wallet....

so you think gold will have a better return than the 1% interest... so it is an investment.. listen to what you are saying, you are ignoring your own answers.

 

Ben, you're seeing this as an "all or nothing" dichotomy. It's not, for me certainly, and from the sounds of it, not for our favorite beverage either.

I don't accumulate pm at the expense of other items necessary for survival. Just like your fund manager tells you, balance your portfolio. Heavy on the "HOLY SH@T, THE ZOMBIES!!!" and fill out the coffers with your post-apocalypse barterable matter of choice.

Hell, after the fall, crusty collections of Hustler might become the new currency. Ain't like redtube will still be available.

 

So when you've spent all your money on seeds and freeze-dried foods and nothing happens, try and buy a house with that.

-jim

 

I'm not looking for a return, just not as much of a loss. Really, though, all I wanted was for someone to say, "X company sells physical gold". Everyone has their own theory about end of the world scenarios. It doesn't hurt anyone to take extra cash and buy something that lasts forever does it?

 

I'd give him five cents on the dollar for his store of diesel.

If he wants, I'll even pay him in pre-1982 pennies, so he can start his own precious metals collection.

 

the answer is there is no place to buy physical gold without rediculous markup and markdown when selling a pawn shop will be as cost effective as anyplace else.

I understand your point and you are looking for the same thing everyone is. where can i rathole assets away from currency just in case? like I said there is no middle ground. You either trust the econmoic system with it's good times and bad or you buy food and guns... that's why I didn't just give you a strait answer.

sorry bout the typos i'm doing this from my phone

 

Serious question: how is paying spot+ on pm any different than paying commission on buying/selling stocks?

 

no I just don't see the benefit of physical gold. If he wants the benefits of "owning" gold just buy GLD and be done with it, not saying I am the end all be all of answers, i just get 10 call a day from clients with the same idea and they want to do it for all the wrong reasons. simple fact is they are scared and want some magic investment that will survive any economic event that comes down the pike.

I've told more than one muti millionaire to close his account and go buy guns and food or keep what he has and stop watching the BS on the evening news. No onw has done it yet

 

You don't see the advantage of actual possession of a commodity vs an entry on a spreadsheet?

I've got some Enron and Worldcom stocks I'd love to sell ya. I'll even let you pay for them with Continentals.