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Precious Metals

2K views 16 replies 9 participants last post by  Elapid 
#1 ·
Does any of my KT family members buy silver, gold, platinum etc... I have been reading on this but would like some advice. Spot price, pawn shop purchase, on line purchase, JM Bullion... PM me if that would be better. Lips are zipped.
 
#2 ·
Commodities are too speculative, IMO, unless you just want to be holding something of value when the SHTF.

For SHTF event, bullets, food, medicine will be worth 10X it's weight in gold.
 
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#5 ·
I have some. I bought in 2010 and should have sold in 2012. It is now not worth what I paid for it. The money would have been better off in my 457 plan.

Unlike a few guys I worked with I didn't borrow all I could from my 457 plan to buy gold. Their retirement model sucks as they pay it back and have metal worth much less than purchase price.

Having some in the so called SHTF case can't hurt in the early stages when greed and hope for a return to normalcy still exists. But should it last enough you can't eat gold.

Remember Y2K? Everyone's planning for the end? A neighbor (and the only LDS guy friendly to none LDS) was talking to me a few days before it hit. Another LDS guy drove up and asked the other if he had enough stores for the worst and a plan. My friend (a bishop) and former 'Nam vet Green Beret, said he did and ask Mike his plan.

I was reluctantly asked and told him I had guns, ammo and training...and a pin map with the location of all the LDS family homes.

No offense to the Mormon members. But if it gets BAD enough for long enough lead will make a greater impression than gold.
 
#8 ·
I got into silver in the 80s and have been squirreling away some ever since. Should have sold it all when it hit 50ish. I'm holding out hope that it goes back up again. I'd say if you're going to buy for investment, now wouldn't be a terrible time to do it. For me, the volatility is part of the appeal. It's like buying a lottery ticket....in the end you can wind up with big bucks....or not.
 
#9 ·
Great answers! Not looking to stock pile, just buying some 10 oz bars for "why not" factor. Just something different, I am sure it will pass just like Broadcastify did!!! lol thanks.. I am not prepping.. well kinda I guess, just look in my safes!!! Wait.. just kidding ATF.. I just have a box of .22 and my g-pa's old Henry for target shooting.
 
#17 · (Edited)
It all depends on how much you are buying, the more weight the closer to spot you can get. But it will always be something over spot, the dealers wouldn't make any profits selling and buying @ spot.

Edit to add it also depends on what you are buying American Eagles and Canadian Maple Leaves will be higher than generic rounds. 10oz bars will be less than 1 oz rounds.
 
#12 · (Edited)
Buy is always higher then spot. $2 seems a little high for silver in the current market but it depends on what your buying. The difference between boullion, junk and coins like Eagles and Maple Leafs varies day to day. One day junk can be a great deal, next day boullion. Eagles have always been a fair amount above spot...there's more of a supply and demand that drives the difference on those I think. I've usually gotten better deals buying locally than mail order but sometimes find some good deals on line too.

I've also collected coins just because they're interesting...not likely to make a profit on them. Currently trying to get all of the Zombuck coins, which are way over spot but neat to look at :)
 
#13 ·
My mother-n-law got all hooked up in Dinar... told her SCAM!! She keeps giving us Dinar for Bdays and xmas and tells us to "hold on".... been 2 years so far. "Any day" I keep hearing and not to talk about it. Oops.
 
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