Going to be Buying Some Gold And Silver, Advice PLEASE!!

[NoMoreApathy]

My girlfriend is getting a really nice sized rebate from her college. She gets one every semester.

We're going to stock up on some gold and silver, but I'm wondering what exactly is the intention here..

Do we buy it and just hoard it? Do we sell it when it skyrockets? IF we sell it, don't we just get worthless paper money back?

What exactly is the point of having the gold and silver, besides protecting the money we used to buy it?

Is it to be used after an economic crash, to have purchasing power?

Can someone please explain what the main purpose of owning the gold and silver is?

[WilliamC]

It's a hedge. It's not an investment unless you try and buy/sell beat the market.

Best advice, buy some investment books. Read. Don't invest in anything you don't understand.

one place to buy gold/silver, www.mjpm.com

[NoMoreApathy]

It's a hedge. It's not an investment unless you try and buy/sell beat the market.

Best advice, buy some investment books. Read. Don't invest in anything you don't understand.

one place to buy gold/silver, www.mjpm.com

Well can you explain to me the best reason why we should take a couple thousand dollars of our much needed money for our family, and buy gold and silver?

[ForTheRepublic]

My girlfriend is getting a really nice sized rebate from her college. She gets one every semester.

We're going to stock up on some gold and silver, but I'm wondering what exactly is the intention here..

Do we buy it and just hoard it? Do we sell it when it skyrockets? IF we sell it, don't we just get worthless paper money back?

What exactly is the point of having the gold and silver, besides protecting the money we used to buy it?

Is it to be used after an economic crash, to have purchasing power?

Can someone please explain what the main purpose of owning the gold and silver is?

This forum isn't the best for this but my opinion, you buy gold and silver to preserve your wealth and to have something of substance in the hard economic times that are coming. It will likely be good for barter for your basic living necessities.

Good place to get some different views/advise: http://goldismoney.info/forums/

I get most of mine from : http://apmex.com/

Good Luck.

[scooter]

If this is money that you need on-hand, don't put it in gold/silver. Buying gold and silver is a way to take your long-term savings and protect it from being devalued.

I differ from a lot of the people here on the forums who say that gold and silver will be able to buy you stuff if shit hits the fan. The only currency at that point will be guns, food, and water.

Buy gold to protect your purchasing power, but not for a shit hit the fan scenario. And if this is money you'll need to touch soon, just keep the cash.

[webaform]

I agree with Scooter. Gold should be a long term investment to hedge against your other long term investments.

[youngbuck]

Gold and silver are hedges against inflation.

I have been investing silver for the past year or so. Why? Well, because I strongly believe that the price of silver will be going up quite a bit in the near future, and I am buying low right now. I don't necessarily intend to sell it when the price doubles or triples though.

When the time comes that the fiat paper dollar is worthless, at least I will have something thats worth something. All of my silver is in pure one ounce increments, so that it would be easy to barter with if the situation permited.

A survival food supply, high volume water purification system (that doesn't run off electricity), guns/ammo, blankets, toiletries, etc. are gonna be the best SHTF supplies you can have.

[WilliamC]

Well can you explain to me the best reason why we should take a couple thousand dollars of our much needed money for our family, and buy gold and silver?

First of all, when it comes to investing, read up on it from a variety of books/viewpoints. Don't take any one persons advice.

Second, never invest in anything that you don't understand or are not comfortable with.

Third, pay off all your debt. Ideally everything, but if you have a mortgage that you can comfortably live with then...

Fourth, keep in cash an emergency fund of 6 months living expenses. This isn't investment money, this is sht ht the fan money that you can get at a moments notice if needed.

After the emergency fund, then start investing.

Again, read read read. Don't take my advice, I'm not much good at it.

I've got the emergency fund, I'm paying a couple extra mortgage payments a year, but I don't know how to invest very well.

I do know a "real" investment pays you money on a regular basis. If your investments aren't putting money in your pocket then they are not investments, they are possessions.

Gold and silver, unless you trade them and try to beat the market, do not pay you, they merely hold their value if inflation gets bad.

Again, it's your money, no one will ever be as concerned with it as you are. Knowledge is your best tool for success.

[fedup100]

These guys are trusted and wise....

http://www.eaglesup.com/

[Allen72289]

Where do I buy food in bulk?


How long does it take for one to receive lost bonds?

How can I convince family members who have mountainss of worthless cotton paper to buy gold/silver?

[Dave Pedersen]

Buy pre-1965 Roosevelt dimes off eBay for about $1.20 each in rolls of 50. That's five dollars face value. Silver has more room to increase in value compared to overall bullion value than does gold. Also it is more easily spent without shaving and weighing and doing a lot of math.

The actual amount of pure silver in one 90% silver dime is .07234 troy ounces. That assumes your dime is not significantly worn. So you just multiply current price of silver $16.09 by .07432 = $1.19 1/2 . That is the melt value of one silver dime.

That works out to about 60 bucks for a roll of 50. Of course there is shipping and a bit of profit on top of that. eBay has many rolls of silver dimes available and sometimes if you like to hunt you can get them for less than 60 dollars including shipping.

[Corydoras]

keep in cash an emergency fund of 6 months living expenses. This isn't investment money, this is sht ht the fan money that you can get at a moments notice if needed.

This is really important, more important than gold and silver. And don't touch it! Don't take some out and promise to replace it in the next week. Don't touch it!

As for WHY to own gold and silver, keep in mind there are two purposes:
1) as a hedge against inflation
2) if civilization collapses or in hyperinflation.
And they require 2 different strategies. With #1, you can buy coins and bars 1 oz. or bigger, because you want to keep them. With #2, you want to buy small coins that you can trade, which means bags of silver dimes and dollars. You won't be able to trade a 10-oz bar of silver for a bag of groceries.

I am not convinced that people will accept silver coins or understand the concept of hard money if SHTF, so I don't do #2.

[Corydoras]

Where do I buy food in bulk?

I have NOT tried these places myself, but people on this forum keep mentioning these two places:

http://www.efoodsdirect.com/products.html
http://waltonfeed.com/intro/packages.html

Notice that one is prepared foods, and the other is grains. I think they complement one another nicely.

[Allen72289]

I'm hoarding silver and gold in hopes of buying land when the economy collapses and land is dirt cheap.

Thanks, Cordydoras

[youngbuck]

I have NOT tried these places myself, but people on this forum keep mentioning these two places:

http://www.efoodsdirect.com/products.html
http://waltonfeed.com/intro/packages.html

Notice that one is prepared foods, and the other is grains. I think they complement one another nicely.

Those are the two I was going to mention.

Get a Berkey water filter too for water.

[youngbuck]

I'm hoarding silver and gold in hopes of buying land when the economy collapses and land is dirt cheap.

Thanks, Cordydoras

they will probably ban private ownership of land (if you even want to say that we currently truely own our land) and say it's for the collective good, to keep us safe of course.

[bj72]

they will probably ban private ownership of land (if you even want to say that we currently truely own our land) and say it's for the collective good, to keep us safe of course.


Kinda like the biodiversity treaty?
http://www.mtmultipleuse.org/wilderness/twp_map.htm
http://www.mtmultipleuse.org/wilderness/wildlands_map.htm

[jaybone]

First priority is paying down debt
Second priority is to stockpile several months of food and water.
Next is the means to protect what you have
Then, look to precious metals.
The main appeal of gold and silver is that it is not a fiat currency, it has intrinsic value that has lasted for 5,000 years. When the $ crashes, and it will, gold will preserve what you have in terms of purchasing power. It is not an investment as much as an insurance policy against a currency crisis.

[Gammerus]

they will probably ban private ownership of land (if you even want to say that we currently truely own our land) and say it's for the collective good, to keep us safe of course.

That is a good idea

[Kregener]

PM's are NOT "investments", but INSURANCE, that you will have purchasing power WHEN fiat money finally collapses.

[AceNZ]

Do we buy it and just hoard it? Do we sell it when it skyrockets? IF we sell it, don't we just get worthless paper money back?

No, don't buy and just hold. Sell either when you need currency for expenses or when the price peaks relative to paper.

Yes, you get paper money back when you sell. That's why, during inflationary times, you only want to hold cash for as short a time as you can.



What exactly is the point of having the gold and silver, besides protecting the money we used to buy it?

Is it to be used after an economic crash, to have purchasing power?

Can someone please explain what the main purpose of owning the gold and silver is?

The point is to preserve purchasing power. It's specifically not to make a speculative killing. Cash declines in value every day. Gold holds its value.



I'm hoarding silver and gold in hopes of buying land when the economy collapses and land is dirt cheap.

Excellent idea! A lot of assets will be cheap at the bottom.