I am starting my buying of gold and silver coins today.To buy gold would limit how many coins I would be able to buy.Is buying silver just as good?
From what I have read silver is much more volatile. Plus there are many new silver mines coming on line so supply is going to increase. Silver demand is tied to the economy. If the economy slows, the demand for silver decreases.
Gold may be more stable. But because it is expensive, it is not as easy to trade.
Think of both as inflation hedges. The growth you see now is false, it is predicated on the collapse of the world of paper and credit.
Gold is a great way to get yourself out of a country, purchase a vehicle, and contain large amounts of wealth. Just remember, 200 one ounce gold coins can buy you a house in most places. 10-11 can buy you a car.
Silver is great for bartering. It will be good for buying food, etc.
Remember though, food is really cheap right now compared to what it will likely become. Might consider stockpiling a little bit, if not just for yourself, for your family or neighborhood.
We will get through this, whatever this is, together.
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank...You are a den of vipers and thieves. I intend to rout you out, and by the grace of the Eternal God, will rout you out."- Andrew Jackson (The Guy on the 20)
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Unless you have over $15,000 to invest I'd stick to silver.
Buy up to $1,000 face value of the pre-1965 quarters and dimes like from http://www.apmex.com/Category/17/90_...lls__Bags.aspx.
As others have said, it is much easier to barter or sell small amounts back for cash if you need to.
Once this is done then start buying 1 ounce coins/bars, preferably Krugerands since they have the lowest markup.
Again apmex.com has good prices and 24/7 online trading, but for small quantities coin shops are good too.
Keep a couple three thousand dollars cash for emergencies, and of course get rid of any debts you have ASAP.
Good luck.
The pre-1965 dimes, quarters, and silver dollars have a finite supply and are cheaper than buying gold. I suppose it depends on what your goals are. Personally my goal in buying silver is to acquire coins that I can use to barter, in addition to services that I can provide to my local area.
I've always seen gold as more of an insurance policy simply because I don't have experience in selling gold for profit.
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Why get rid of debt ASAP?Originally Posted by WilliamC
Well some folks are more risk tolerant than I and are comfortable having debt or even borrowing money to invest.
I'm just paranoid enough not to want to owe anything to anyone in the world.
What happens if the rules change and the debt becomes due tomorrow? Or you are forced into an accelerated payment program? Or if you just hit really hard times and can't make payments?
I've never seen anyone with a paid for house get foreclosed on though, and paid for cars might get stolen but never repossessed.
Again, I'm just not very risk-tolerant, but I understand that a few people actually do become wealthy using other peoples money.
If that's what you want to do hey, your life, your choice
I wish people would do their own research before asking questions that have a thousand posts (literally) about the subject already.
Would a moderator PLEASE make the search function more obvious? Otherwise, there's going to be TEN thousand posts on the same subject (which will further dilute the already diluted thread banks).
Last edited by khorbis; 03-06-2008 at 10:50 AM.
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The reason silver is more volatile is because there is less of it. It is easier to corner the market on an item in short supply.
Nearly all of the gold ever mined is around someplace because it is not used up in industry. Silver on the other hand, gets used up by industry. There is much less silver above ground than there is gold. Demand for silver is rising because they are finding more and more uses for it, while demand for gold is remaining the same as there are fewer uses for it other than jewelry and electrical contacts.
If you look at the price of gold versus silver for the past year, you will notice the amount people have invested in silver has gained more than the amount people have invested in gold. On a dollar per dollar investment, silver is outperforming gold in returns.
Silver will likely double quicker and more often than gold, for a number of reasons, though I'd have some of both.
Here's how they've both done over the last half dozen years...
Look for the above to continue for as long as the dollar
continues to make new lows...
Of course, too, as we need to always remind everyone,
we are always talking about acquiring silver/gold AFTER
having secured one's own family preps and supplies.
You need to always first acquire basic preps to sustain
your family and survive months of turmoil on your own;
food, water, shelter, energy, medical, security, etc.
You'll be glad you did for a number of reasons; buying
in bulk now saves $ from inflationary higher prices later,
you'll have a food pantry and supplies buffer then for
any coming natural disasters and man-made disasters,
or even just a temporary loss of job or much worse, etc.
If preps are all gotten, and any paper wealth is left;
(dollars, mutual funds, bonds, stocks, annuities, etc)
then it's prudent to next diversify some significant %
of that remaining paper into physically held gold/silver.
BTW, if only buying a little of either, I especially prefer
silver for it's potential quicker % rise over gold historically.
If you can look at gold/silver more as simply one other
alternative method to store and preserve some of your
wealth buying power, rather than as an investment you
are watching swing up & down daily, you'll sleep better
at night, too.
The more prepared you are, physically with preps and
financially with gold/silver, then the less apt you are to
be panicked, stampeded, and herded into TPTB next
planned Draconian solutions for their created mess,
like the NAU and Amero and martial law or whatever.
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Panic Early & Beat the Rush!
- Shane
Gold and Silver are both good. They are volatile, but right now the dollar is a lot more so. Most silver mines also mine other things such as gold and copper...silver is mainly a byproduct. Most easy silver has been found and mined already as people have been using and looking for it for hundreds and hundreds of years.
Silver is also an investment metal as well as an industrial metal. Good and bad times silver has uses. Right now price is going up mostly because investment demand, other investments are poor performers right now.
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Diversify, diversify, diversify. Platinum, gold, palladium, silver, they all have their place in a precious metal portfolio.
Would buying stock in gold be just as good as purchasing real gold to protect your cash when the hyperinflation kicks in?
When it comes right down to it, if it's only on paper, the chances are, you don't own it. Things can happen to make the paper worthless. It is hard to make a physically held item worthless.
Just my $0.02 on the subject. Or with the so called inflation, my $0.001.
No, always buy physical first, otherwise it may be unavailable when you need it most.
Edit to add; that would really suck.
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Silver has inflated 100% more than gold if I remember correctly.
Depends on weather you investing short term or long term.....
for short term profits....i would go silver.....
if for long term savings.....i would go gold....
My thinking would be gold ETF's are good if you want to make some short sales right now and make a couple extra bucks.
The extra money you make short selling some gold ETF's can be used to purchase some physical.
I'd still purchase some physical FIRST though, so you get it as cheap as possible, and so you have it on hand.
I'd be afraid to have my money tied up in the market for any longer than to make some short sales during this year, but that's just me.
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