Buying silver, where to start

Though they may still gripe about size and color......

 

I just closed the last of our paper dollar investments as they were losing money. I own silver eagles and Silver stagecoach divisible bars. I put most of our money into product for my business which nets us about 80% profit. Cant get any better return on our money then putting into fishing lures to sell. I already stocked ammo and firearms, Propane and lots of barter stuff. Could use more medical supplies and things like whiskey, cigarettes, Tobacco , Canned butter and such. I have water and that is a good barter item in itself. The bottom line for me on prescious metals is this , I may need some things like salt, sugar and gasoline. The dollar is going fast and I am sure that for a few months we may be in between solid currencies. I also expect a world currency to take over all others. After all Globalism was the goal of the world power brokers. They will implement a single global currency. The down time between is my concern at this time. The best course to me is still to just plain not need money for as long as 1 year. The longer I can last without needing to buy anything the better off I am.

 

Clearly, you are your own best investment. And personally, I think that is the way it should be.

But one question nags at me with everyone buying PMs. What happens if government makes private possession of PMs illegal , as they did many years ago with gold? That is why a twenty dollar gold piece is so rare these days.

 

I understand your valid concern. However, that concern applies to any physical item you chose to invest in such as a 401k, land, a home, firearms, etc.

 

Seems alot easier to take metals with the stroke of a pen, than land, which they would need to take with blood, and hold with lead.
A lot more profitable as well.
Besides, if your aim was to make preppers unbalanced, or unready, it seems to be a likely first step. To knock the support from beneath them.

 

Well, sure...on paper it would be easier, because it was done before. FDR seized all bullion, made it a crime to own any. My great grandpappy Falcon buried his in a secret spot. Sat on it, and passed the secret to his son, who, in 1974 when the FDR legislation was rescinded, went and dug it up. The Falcon Family wealth survived the great depression. It did not survive the folly of my father. That, my friends, is another story.

I have always said, and I will NOT waver - do NOT buy the shiny until you have your bullets, beans, and band aids squared away. Metals are a WEALTH PRESERVATION TOOL. They preserve the wealth you (or your family has) to get to the other side of a financial crisis.

If you have no preps you (or your family) will NOT make it through a serious enough crisis, and someone else will be thanking you for all that nice shiny wealth you left after you and yours died. Or they kill you.

Wealth preservation means absolutely NOTHING if you are not around to enjoy it.

 

I still say the best course is to not need money for anything. The longer you can go without the need for any type of capital the better. Silver will always be worth something that much I am sure of. As for me I am more interested in barter items. Wine, booze, tobacco and salt being among the top 4 . I also have been trading .22 shells lately. Great barter item right now.

 

I see speciality jewelery in Silver as a good barter item. Gold can be pricy right now and has a limited audience in the barter world.

Always have a good scale handy and be aware of proof marks etc.

YMMV

 

This should be a sticky or pinned thread--very informative indeed. One of the single most important things to consider along with having a bug out bag!

 

I like junk Silver coins. Pre 1964 dimes, quarters and half dollars have 0.715 oz of Silver for each dollar face value. You can buy them on Apmex and have them ship them to you. They usually charge a couple bucks over spot. Don't buy the ETF. It's backed by nothing and is totally manipulated. The fact that it's manipulated is a good thing for now, because it's lowering the spot price and allowing us to buy at a lower price than what it should be. You can also try to buy on Ebay, but there are a lot of bad sellers on there with Silver plated crap and not the real deal.

 

Check your local pawn shops and gold and silver dealers. I have found one in my AO that operates strictly on a 10% markup on what you purchase from him, and a 10% discount on what he will pay for your PM. This is strictly cash and carry. No tax. No record. 72 hour tape life on security camera, which is digital actually and starts rerecording over 1st 24 hours at 72 hrs + 1 second. It is a better deal than usually you can find anywhere else except a private seller who has no idea of the value. I like dealing local.

 

Great idea about the local pawn shops and Silver dealers. There's a local coin collector to me, and he's not that good at math and doesn't track Silver spot much. He's more into the numismatic values of coins, rarity and condition. I've noticed that he's slow to re-calculate his junk Silver prices, but he doesn't have much junk Silver coins. If the spot price goes down, he doesn't lower his prices much, but also when the spot price goes up, he's slow to adjust it. I've been wanting to check out flea markets and when the weather warms up, I might look into it.

 

I started with ebay and morgan silver dollars

 

What would be your opinion of 1 oz silver rounds that were/are not legal tender as opposed to actual coins? Culls or others...I know the silver price reflects the current market plus some over spot, but is the trade value effected because it is not as easily recognized as an official coin. I worry that if it is not actual currency that it may not be accepted at barter in event of an Event.

 

my opinion and order of preference ..
National Minted Coin (ASE, Canadian Mapleleaf, Austrian Philharmonic, Australian Roo/Kookaburra, Mexican Libertad)
Well known private mint (silvertown, ampex, scottsdale, NWT, Liberty Dollar)
then we get into the other mints that just mark their stuff .999 .. yeah, those generic holiday coins/bars. Those are the ones I've already divested myself of. If there were an event, I'd be suspect of accepting those so i in turn already swapped them out for fiat, fuel or food.

Again, just my opinion. But unless i recognize it as having value, it doesn't have any. Even if the holder of said generic non-major mint says it is. My prerogative to just pass.

 

Now?
When is a good time to buy, Has silver and gold bottomed out for the time being?