I have been thinking about buying gold lately. I am not sure I trust banks not to do something to steal my 401k by the time I can retire and gold seems like a safer bet.
Does anybody here buy gold? Where do you buy it from at market value? I never see a “gold” store other than jewelers, but I’m sure their stuff is more expensive than the market rate since they have made something out of it.
I figure this is related to “disaster preparation” because gold will probably be a currency during the zombie Apocalypse.
If a true SHTF type of scenario plays out, you will want things you can eat, drink, and wipe with. As well as guns and ammunition. It might be nice to have some precious metals / stones, but I wouldn’t trade you a roll of toilet paper or even a cracker for a gold nugget if it came down to true survival.
It really depends on whether you are looking for an investment that will grow over time, a store of wealth or a currency for SHTF. If you are looking for your money to grow then gold may not be the best choice for long term. It should increase/decrease in value with inflation, but not really grow over the long term unless everything really goes to hell (very possible). If you already have a lot of money and want to make sure that you keep it, then gold is great for that. If you want something to use as money when SHTF or TEOTWAWKI, you are better off storing ammo, batteries, food, shoes/boots, etc. Just my opinion.
Honestly though, I buy silver. Why? Because even if there are monetary options during a SHTF type of scenario, who’s gonna have enough “stuff” that you want to trade for a gold coin?
Bullets will most likely trade well for anything. Unfortunately, once you trade bullets for something… well, you have less of them and now at least one other person has some of them.
Now, if I were to come into some money then I would whole heartedly invest in bullion. Until then, my money has to spread out to more practical things. Should the barter system arise after a SHTF event how are you going to make change for a gold coin/bar?
At the end of the day gold is only worth what someone says it’s worth (usually Lord Rothschild :rolleyes:) and it won’t keep you warm, dry, protected, or fed.
Gold is good for LONG-TERM wealth storage. Even so, unless you’ve got MILLIONS and BILLIONS to store, I’d be looking at 1/10th, 1/4, and half-oz. bullion coins, to do my storing. It’s EASIER to liquidate a 1/10th oz. coin in a hurry, than try to sell off a several POUND gold bar. Easier to store and hide, too!
Don’t forget pre-1965 circulated U.S. silver coins (dimes, quarters, and halves - War nickels and Peace/Morgan dollars as well) - sometimes referred to as “junk silver,” because they’re circulated, and have no RARE numismatic value because of rare mint marks or the like. They also hold wealth, and will be easier to spend post-SHTF/2nd Obama term/etc. You’ll want to buy your bread & water with silver dimes, NOT, gold bars.
To me there are to many variations to the Gold Market to responsibly invest in it at this time. However Im not considered a risk taker. I know one of the major contributors to the price spiking in the last decade is due to the fact that Homestake mine closed. As it produced 40% of the gold in North America. I also know that due to the rise of costs of other precious metals that it can’t be proven. That’s my point. Its just to finicky to go after.
Given the huge quantity of gold stored above-ground compared to the annual production, the price of gold is mainly affected by changes in sentiment (demand), rather than changes in annual production (supply).[16] According to the World Gold Council, annual mine production of gold over the last few years has been close to 2,500 tonnes.[17] About 2,000 tonnes goes into jewelry or industrial/dental production, and around 500 tonnes goes to retail investors and exchange traded gold funds.[17]
Moose-Knuckle… you are a lot better looking than I had imagined you to be.
to OP, you need to realize are you going to be trading hundreds of dollars at a time. You get a tiny little gold coin and you would either need to chop it up or spend a pretty good sum of money at once.
If you are going to buy it to potentially barter/spend, you should probably get bullion.
I think I like it because it is still valuable if:
shtf
banks steal my 401k
the economy crashes and my cash is worthless
I still have ammo, but gold at least is something that can be traded if you want to do a “peaceful” transaction. I like your idea of buying silver as a smaller currency though.
I have heard stories of people using a jar of money in bad economic times to buy a loaf of bread. It would be nice to have something that is not so volatile.
I’m at a reasonable place with my food, ammo, med supplies etc and I have recently started getting into one ounce silver coins. I think it is a very reasonable hedge against a wider variety of SHTF events.
I think silver in small denominations would be easier to deal with under most circumstances- after I get to a happy place on that I might look at some small denomination gold 1/10 oz coins maybe.
Statements like this assume that after a collapse, everything stays collapsed. I’m pretty sure Gold/Silver still had value after every great civilization fell.
Trusting banks 100% is full-retard. Believing that you will be trading ammo for dead rodents post-collapse is full-retard. Ending up in your 60’s and realizing you have no retirement plan… Priceless.
Find a happy medium where you feel comfortable. Be wary of many of the comments (like in the last thread we had about gold/silver) from people who clearly don’t own any.
1 bag of junk silver coins (pre 1964) for things I forgot, ran out of unexpectedly, didn’t forsee I would need. The rest goes into tangible items. My goal is 2 years supplies for self sufficiency to not even need to barter at all.
Just one fella’s opinion here, but for as long as Ive thought about, prepped for, studied about, and had many many conversations with people on this subject, which for me started back in the late 70’s…Ive
not once ever thought about having/using/needing gold, or any type of currency as a LONG TERM shtf item to have. Im talking a national, social/economic breakdown type scenario. EMP even. Now, local, regional, short term national level event, SURE, I think thats where
precious metals would really shine, pun intended. But a long term scenario…I wouldnt trade my TP/guns/ammo/food/preps for fuckin Fort Knox. But…I could be wrong.
