Buying silver, where to start

Don't buy crypto unless you can stand to lose it all.
If you had bought 10K dollars worth of Bitcoin about 8 hours ago .. right now you'd only have 7800 bucks.
It is not for the faint of heart. It's a fickle beast. Granted, it's doubled or more since January but it can plummet like a rock at the first sign of bad news. There are no circuit breakers it could go to zero in less than a day. It could go up but not nearly as fast.

 

Thanks a very good point. What I understand so far is that it's essentially a high risk/high reward investment, which obviously applies both ways. I certainly wouldn't go in to something like that 'expecting' rewards or as some people do, 'relying' on them. Thanks for your input.

 

Thanks so much for the advices on where to start guys. I am now feeling confident in where to start! Much appreicaition

 

Don't forget when to start.
Now really isn't a good time to buy gold.

 

Really ?? I never have figured out your (whatever)
WHEN YOU SELL is whats important !! I have 3-nine gold from ?? say 70;s -90,s who knows , first coin was 280.$$ now that 3 9 is worth way more ! It's a way of HOLDING wealth . Same as silver /food /solar / equipment etc.

S

 

I say don't bet on where gold could go unless you like loosening money or being under water on it for years.
Only place your bets on where it is that day.
If you buy today don't expect for the price to make up the bid/ask and spot fee difference for up to 5 years.

 

I'm a big Silver guy and I usually buy my coins/bars at Bullion Exchanges, they offer a good variety and fair prices

 

Back in the 1960s my Father and Grandfather owned a small grocery store. They also collected coins, mostly stuff that came through the register. Then LBJ took the silver out of US coins, and my Father started holding out all of the silver coins. It got so bad that my Grandfather complained that, "they couldn't make change for a dollar". The Sheeple (aka customers) loved the clad coins, but my Father carried home bags of the silver stuff. Why do you think that there are so many pennies and nickels from the mid 60s? Many years later, when silver got so high he sold a lot of those coins to buy a new car and to pay some bills. I still have some of those coins and have added my own over the years. Pre-1965 US "Junk" coins are best because everyone will know what they are. Next are American Silver Eagles. I stay away from foreign coins, and private mint coins, bars and rounds. Also, you need a coin book that shows the silver content of all US coins and maybe foreign coins too. I'm planning to buy a gold and silver test kit.

 

This is a great post for someone who is starting out. I recently lost my job so I can pull my 401k out and eliminate almost all of my debt. I also receive a decent pension which I intend to live solely on in the fairly near future. I got another job and I am considering instead of signing up for the 401k in this job I want to put a percentage into PM primarily silver I think. I believe as many have said to invest in beans and bullets as well as barter items. I have a decent stockpile including a still and have a dedicated budget to continue building my prep stockpile. Any further thoughts or advice on this ?

 

Posted June 2018 when gold was in the 1200-1300 range.
2 years later: 1900 buck range.
You almost called the bottom.......August 2018 @ 1176. Hasn't looked back since.


Gold Price Chart

2 years from now......my guess is 2300+

 

Pulling your 401k out may have tax penalty implications you'd need to consider if under 59 1/2, and even IF you're that age, you still have to consider the taxes on any gain. That said.....there's no time like the present to get off a ship that is clearly taking on water

I did it with mine (IRA, not 401k) in 2006, paid the 10% penalty and taxes due and stuck it ALL in $1,000 bags of 90% US silver coins, hoping it would keep up with the decline of the dollar so I would always have enough to pay my property taxes worst case. At that time, bags were selling for 50 cents UNDER spot price, around 4000 FRNs (federal reserve notes) per bag. Current price on APMEX is 19,619 FRNs for a $1,000 bag.......so in 14-15 years, I've 'made' about a 400% return on that silver. The REAL way to look at it is the paper buck merely got 400% more crappy....and I was insulated from that.

My property taxes have gone up about 30% in over that same time period (one year, they laid a whopping 20% on us), so I'm good so far without having to tap silver.

As for putting a large amount in today, who knows. Absolutely NO ONE on this board (or likely anywhere else) has a crystal ball on the subject. My gut feeling is you can't go wrong, even going all in right now. Will the price dip a little....maybe....but as long as you look 5-10yrs out, you can't go wrong......in my opinion. I've been buying silver and gold for 25 years....and it has been nothing but good to me so far. And given the increasing pressure on the US dollar, and the likely hood it may go completely in the toilet, any form of real money is going to be an asset down the road. Make sure your bean/bullets/bandaids are well covered first, but then I'd advise anyone with extra funds to consider some real money.

I like 90% silver as a good foundation....dimes/quarters contain a small enough amount of silver to be easily divisible for small purchases, and as Wildbilly above points out, the are easily recognized and not worth faking at this point. I like US Silver eagles next best, but you pay a premium over plain Jane 1oz rounds it takes a while to get back....but again, there is the reputation factor to consider on them. I like plain Jane silver rounds in next order. I have a feeling if we ever DO get in a situation where silver is money again...and that would be SHTF.....that we will be doing what the early colonists did with Spanish pieces of 8 (8 Reale silver coins).....taking an ax to them to make change. The high school cheerleader phrase "2 bits, 4 bits, 6 bits, a Dollar....." comes from that practice. They took a "Spanish Dollar", whacked it in half to make two 50 cent pieces.....aka "4 bits". Wack one of those in half to make 25 cents, or 2 bits.....and again to make one bit.....1/8 of a Spanish dollar.

One side of the 8 Reale coins had a handy chopping guide on it.....

 

That is what im thinking. the chance to eliminate all my debt right now is my main motivator even with the tax problem I continue to grow my preps but putting money in something solid makes sense to me just scared of the unknown ill be sifting thru all the resources on here for a long long time

 

just finally seen the pic.. how cool is that ?!?! there is so much i need to learn about thanks for the input !

 

be careful out there


as far as pieces of 8 - the idea is still around




yeah - no.

 

Well, since you liked that one.....here is an 8 Reale coin recovered off the Nuestra Senora de Atocha, a Spanish galleon that sank in September, 1622, off the Florida Keys. Part of it (it broke up in the hurricane and part hasn't been found) was recovered by Mel Fisher in 1985, and we were in his shop in Key West in the late 80's and I bought one of the coins. I had it mounted in a gold holder by a local jeweler for a necklace for my wife. Coin is the "cob" type, meaning it was made by hand (in 1619) by a guy beating a hammer on a die on a sheet of silver mined out of Peru. This coin, along with a lot of others, plus gold, emeralds, and such, were sent overland to Mexico, loaded on the galleon for the trip back to the Royal Treasury of Spain....along with the rest of the 28 ship fleet. The Atocha was estimated to be carrying upwards of 500 million dollars of cargo.

Nuestra Señora de Atocha - Wikipedia

I'm not a coin collector by any means....but it's a cool piece of history to own....showing silver has been money for well over 5 centuries. Kinda rough, but still in fair shape for something that spent almost 500 years under water.



Then another little cool ditty I picked up once a is a Greek coin from 300-400 BC. The coin was minted in the city of Apollonia Pontika, a Greek city on the Black Sea. Very small, hard to get a good photo with my phone the coin is so small, it has the Greek god Apollo on the front, and anchor/crayfish on the back. I bought this one already mounted in gold with four small emeralds in the gold. Again...to hold in your hand a silver coin that is well over 2,000 yrs old gives you a perspective on silver it's hard to 'get' any other way. Think of the stories this coin could tell if it could talk !

 

These are the ones I got . They are from the NWTM
NorthWest Territorial Mint
I prefer to purchase RCM and Maples in AU , less weight .



I agree with TN Andy 100 % as I have been watching his thinking , new bath next year also here.
Sloth

 

Gold still hasn't topped it's all time high in 1980 which is extremely disappointing.