I've been gone for a while but thought I'd stop by again with a question. If you were to rat hole some precious metals, mainly Gold. would you hold 20th,10th,1/4, 1/2 oz or just Oz's What do you think of the bars that break into grams?
Please don't give out if you do or how much you mite have,
After going through a divorce and seeing how a judge can pretty much wipe out your entire life's work with the stroke of a pen, I'll say yes I can see the value in having gold hidden that no one knows about. At least you could rebuild some of your life after being cleaned out and not be poverty stricken. Before seeing how the "system" works I'd have thought it paranoid, but after seeing it up close and personal I think anyone having all their assets in a position that's exposed to the legal system is foolish.
If I were buying it I'd probably pick the 1 oz. certified bars, they seem easiest to sell or trade.
I got a little raw that I dug out of some creek beds near here but it's just a expensive Hobby. It's much cheaper to buy the bullion then go pan or sluice for it here!
I agree with the junk silver, and smaller denominations of Gold. Ease of liquidation being the key.
Agreed, because while the underlying video is meant to be funny, if we really get to the point that a guy is bartering in tangible assets, the below may be truer than one wants to admit:
I agree with the junk silver, and smaller denominations of Gold. Ease of liquidation being the key.
Agreed, because while the underlying video is meant to be funny, if we really get to the point that a guy is bartering in tangible assets, the below may be truer than one wants to admit:
Go ahead and squirrel away tens of thousands of dollars worth of gold. Then, when things get really bad, you can trade all of it for a can of beans.
I've never bought into the old wheeze that gold will always be valuable. If the economy collapses, gold is too heavy to move, and useless for any practical application. Dead weight, in other words.
To the OP. Everyone has an opinion on saving and investments. Quite frankly I wish I had the funds to buy gold back when it was under $200 an ounce. Just for the gain in value to sell just like I would stocks. As far as saving gold for an economic downturn or collapse, I think it would be rather fruitless.
The problem with gold and silver in a SHTF scenario is, you'll always get pennies on the dollar. When it all hits the fan, who really needs gold and silver? Unless you're trading with a 1%-er, you're not going to find many interested. When the SHTF, people are looking for something tangible like food, medicine, or ammunition. I really think .22lr would get you MORE than what you paid for it rather than less than what you paid. Also, canned foods will be worth more than what you paid, and any meds, even over the counter, with a long shelf life.
Go ahead and squirrel away tens of thousands of dollars worth of gold. Then, when things get really bad, you can trade all of it for a can of beans.
I've never bought into the old wheeze that gold will always be valuable. If the economy collapses, gold is too heavy to move, and useless for any practical application. Dead weight, in other words.
Well from 1919 - 1933 the Gold Standard failed 3 times. When that happened the people weren't interested in gold, they were interested in food...which is a big pat of why the gold standard failed. When things got ugly the people no longer valued gold as it "should" have been valued on the books. The governments told them gold was worth X but the people ignored it and set their own prices based on the supply and demand of vital commodities.
And if you look at financial collapse all over the globe, you'll see that gold may be quite valuable for those who have an abundance of the essentials, and they tend to make out like bandits. But for the guy on the street, gold is the last thing he's interested in; he needs to put food on the table.
So the guy on the street with gold, gets pennies on the dollar trading gold for food. Because the only people who will trade food for gold in that situation is the person who knows they can get your gold for next to nothing.
It's a fools errand. Canned food will be worth MUCH more than gold, dollar for dollar.
Small fractions of recognized gold coins 1/10. Silver in 1/2 & 1 oZ coins. Don't think of it as an investment, but as recognized portable means of trade. Small supply of copper & lead might also be of benefit. GW
Gotlost: I have a stash of "siver dimes" - I am saving them for a "rainy day" or a hussein obama induced financial collapse of the United States of America. I figure they will be easily recognized and easily traded for necessities should that day come. If not needed for that then they hold their value pretty well and heirs can cash them in or keep them as they see fit. Hold into the wind VarmintGuy
Go ahead and squirrel away tens of thousands of dollars worth of gold. Then, when things get really bad, you can trade all of it for a can of beans.
I've never bought into the old wheeze that gold will always be valuable. If the economy collapses, gold is too heavy to move, and useless for any practical application. Dead weight, in other words.
But if you have more beans than you'll need, and seeds to boot, and land.... the gold/silver then can come in handy, if not right then, at some point as the recovery begins...
It depends on your SHTF scenario and planning. If you're planning to hunker down and ride it out, you'd probably be better off with excess canned goods, toilet paper etc that you could barter off at exorbitant prices than pieces of eight. However if your scenario includes having the means to travel from you local into "friendly lands" to start life anew, then having some precious metals to start over would be well advised.
My wife's Grandparents fled Stalinist Russia when they'd been warned they were going to be shot (they were land owners and hence enemies of the state) They fled into Persia and started life anew, and of what little they could carry on their backs was some jewelry which helped them start over from scratch. After the natives provided not so friendly once they became prosperous (this rag heads hating Christians isn't exactly a new thing) led them to traveling to Australia and staring anew again.
I'd certainly take the physical asset of gold and silver over numbers on paper in a bank or investment account in a SHTF scenario, as those numbers on paper won't be worth a thing.
I would go with something internationally recognized and legal tender, like the Canadian Maple Leaf, which is available in fractionals down to 1/20th oz. Least desirable would be bullion bars.
Go ahead and squirrel away tens of thousands of dollars worth of gold. Then, when things get really bad, you can trade all of it for a can of beans.
I've never bought into the old wheeze that gold will always be valuable. If the economy collapses, gold is too heavy to move, and useless for any practical application. Dead weight, in other words.
Seems outlandish that anyone with an ounce of gold would neglect to put some beans back for a rainy day.
It depends on your SHTF scenario and planning. If you're planning to hunker down and ride it out, you'd probably be better off with excess canned goods, toilet paper etc that you could barter off at exorbitant prices than pieces of eight. However if your scenario includes having the means to travel from you local into "friendly lands" to start life anew, then having some precious metals to start over would be well advised.
My wife's Grandparents fled Stalinist Russia when they'd been warned they were going to be shot (they were land owners and hence enemies of the state) They fled into Persia and started life anew, and of what little they could carry on their backs was some jewelry which helped them start over from scratch. After the natives provided not so friendly once they became prosperous (this rag heads hating Christians isn't exactly a new thing) led them to traveling to Australia and staring anew again.
I'd certainly take the physical asset of gold and silver over numbers on paper in a bank or investment account in a SHTF scenario, as those numbers on paper won't be worth a thing.
i good tell a smilar story about croatia/serbia/etc. In the early 1900's ownership of the turf and currencies changed every few years. It was only prudent to have some assets internationally valued to take with you, sewn in the hem of your wife's dress. Gold doesn't really appreciate in value, it maintains value. I think of this everytime i see a snickers bar for sale at the grocery store, and think of that nickel when i was a kid buying the same thing. I would call it an excellent insurance policy.
Go ahead and squirrel away tens of thousands of dollars worth of gold. Then, when things get really bad, you can trade all of it for a can of beans.
I've never bought into the old wheeze that gold will always be valuable. If the economy collapses, gold is too heavy to move, and useless for any practical application. Dead weight, in other words.
Seems outlandish that anyone with an ounce of gold would neglect to put some beans back for a rainy day.
And... Just how heavy is that ounce of gold?
I was gonna say, different income bracket than me if you have to worry about gold being to heavy to move.
I was born and raised in arizona, got the beans covered. In the depression my mom was on a farm raising pinto beans. She said she could exchange them for anything she needed.
Some interesting commits and views,The SHTF scenario is always a possibility and one should look at it. The most likely advent would be a Katrina type or something similar to the flooding we had along the front range a couple of years ago. I already have a 10 to 15 day evac Bag and needed paper work ready to grab and go with some cash and I'm planning on adding some coinage to the kit. Having small increment of gold when I go abroad (out of the con US) has been advised to me by several sources. if you've never been to a 3rd world county this mite be hard to understand. But for now I'm building a stash for short term economic disruption. I have most of the staples but knowing that I have some real bartering power goes a long way if the need arise.
