argo
Wholenote
Posts: 403
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Post by argo on Mar 25, 2022 8:55:00 GMT -5
I have been building a cash stash from gig money and keeping my hands out of my pockets. Thinking of some coins or 1 to 5oz bars to stick in the safe. I have not done hardly any research yet but from what little I hear Gold is high and Silver is lagging with more room to grow. Does that sound accurate?
Any advice on who or what to read would be greatly appreciated!!
And should I have used more commas?
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Post by Mfitz804 on Mar 25, 2022 8:58:31 GMT -5
I have been building a cash stash from gig money and keeping my hands out of my pockets. Thinking of some coins or 1 to 5oz bars to stick in the safe. I have not done hardly any research yet , but from what little I hear , Gold is high and Silver is lagging with more room to grow. Does that sound accurate? Any advice on who or what to read would be greatly appreciated!! And should I have used more commas? I added two commas lol.
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argo
Wholenote
Posts: 403
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Post by argo on Mar 25, 2022 9:47:35 GMT -5
Thanks. I practice "When in doubt, leave it out" from the 7th grade.
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Post by Leftee on Mar 25, 2022 9:53:15 GMT -5
I, like, commas.
Haltingly,
W. Shatner
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Post by Pinetree on Mar 25, 2022 10:16:58 GMT -5
I, bought silver, at $47.50/oz when I, was, a, teenager.
It's, only, worth, $21.00 today.
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Post by rickyguitar on Mar 25, 2022 11:06:54 GMT -5
Colombian gold or Panama Red.
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Post by modbus on Mar 25, 2022 11:30:12 GMT -5
I, bought silver, at $47.50/oz when I, was, a, teenager. It's, only, worth, $21.00 today.
Was that when the Hunt brothers tried to corner the silver market back in the late 70s?
Around $2000 per ounce seems pretty high for gold to me. I wouldn't buy at that price. Of course, I also didn't buy back in 2003 when gold was under $300/oz, so don't listen to me.
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Post by SteveM on Mar 25, 2022 11:46:31 GMT -5
I remember a post from the old place in which the poster said that when the SHTF, his precious metals investments in gold, silver, and lead would all pay off.
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krrf
Wholenote
Posts: 376
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Post by krrf on Mar 25, 2022 12:11:57 GMT -5
I guess the question is why do you want to buy gold/silver? A hedge against inflation? To have because it's shiny? For when SHTF?
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Post by Leftee on Mar 25, 2022 12:14:26 GMT -5
I’m not clear as to what one does with their precious metals when the SHTF.
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argo
Wholenote
Posts: 403
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Post by argo on Mar 25, 2022 12:48:53 GMT -5
I guess the question is why do you want to buy gold/silver? A hedge against inflation? To have because it's shiny? For when SHTF? All the above. Just because I'm paranoid, Doesn't mean someone is not out to get me. I had a few gold coins back in the 90's I sold to buy a Ham radio and have been kicking myself for 2 decades.
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Post by Leftee on Mar 25, 2022 12:59:40 GMT -5
I guess the question is why do you want to buy gold/silver? A hedge against inflation? To have because it's shiny? For when SHTF? All the above. Just because I'm paranoid, Doesn't mean someone is not out to get me. I had a few gold coins back in the 90's I sold to buy a Ham radio and have been kicking myself for 2 decades. Should have gone with the Kobe beef.
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MoJoe
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Formerly Known As: quiksilver
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Post by MoJoe on Mar 25, 2022 13:26:14 GMT -5
A '57 Goldtop and a Gretsch Silver Jet can make a beautiful nest egg. 0.2
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Post by modbus on Mar 25, 2022 13:47:18 GMT -5
I would have to guess lots of small silver coins would be useful in a SHTF situation, maybe. Gold would be to hard to "make change".
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Post by Leftee on Mar 25, 2022 14:14:00 GMT -5
I think that, when the really big stinky SHTF, lead and the appropriate lead propulsion systems would be most prudent.
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Post by FlyonNylon on Mar 25, 2022 16:06:56 GMT -5
Gold is likely to lose as much value as anything else (cash, bonds, equities) in a true SHTF scenario.
The best investment for your cash likely depends on your investment horizon. If you need the money in the next 5 years, paying down high interest debt would be best, followed by a bond fund, CD or money market account. If you can wait more than 5 years (or are risk tolerant) it's overwhelmingly likely the best investment will be low-cost index funds like VTI/VOO/QQQ.
Precious medal commodities are just as likely as anything else to crash in a hypothetical apocalypse. People are way more likely to pay $2k for a water filtration system than an ounce of gold in that unfortunate scenario. In that case we'll just be playing guitar for the warlords anyway..
jmo, I own no precious medals and hedge inflation by "owning" a home and being fully invested in equities.
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Post by Seldom Seen on Mar 25, 2022 16:17:01 GMT -5
Gold takes up a lot less space but holding a mix of both is good practice. Gold and silver will always be worth something and that "something" will be priceless when needed. If you buy gold and silver, consider 1/10 oz gold coins and 1 oz silver coins. Also consider holding it in reserve and do your real investing in other areas. Just keep adding a little at a time as funds and spot pricing allow and hope you never need to use it. That's my method in a nutshell.
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Post by Lesterstrat on Mar 25, 2022 17:48:57 GMT -5
Neither
Love,
Warren Buffet
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Post by modbus on Mar 25, 2022 17:52:42 GMT -5
A few years ago I took Slim Picken's advice and got a ****load of dimes -- a few rolls of silver dimes. A roll of dimes doesn't take up much space, and at a dollar a pop a roll is worth 50 bucks. Nowadays they'd be worth over $100.
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Post by Leftee on Mar 25, 2022 18:45:23 GMT -5
That would be a SHTF-load of dimes.
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Post by gato on Mar 26, 2022 8:03:06 GMT -5
I, bought silver, at $47.50/oz when I, was, a, teenager. It's, only, worth, $21.00 today.
Was that when the Hunt brothers tried to corner the silver market back in the late 70s?
Around $2000 per ounce seems pretty high for gold to me. I wouldn't buy at that price. Of course, I also didn't buy back in 2003 when gold was under $300/oz, so don't listen to me.
I bought 5 lbs of the stuff back when it was $400 / oz right after I retired, and stuck it in my gun safe. Just another leg on the investment stool.
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Tequila Rob
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Post by Tequila Rob on Mar 26, 2022 8:40:03 GMT -5
I remember a post from the old place in which the poster said that when the SHTF, his precious metals investments in gold, silver, and lead would all pay off. I would agree with that...paper money?...bah!....gold is way out of my price range but I've got many silver coins that I've collected over time
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Tequila Rob
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Formerly Known As: Guitar Fool
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Post by Tequila Rob on Mar 26, 2022 8:44:26 GMT -5
A few years ago I took Slim Picken's advice and got a ****load of dimes -- a few rolls of silver dimes. A roll of dimes doesn't take up much space, and at a dollar a pop a roll is worth 50 bucks. Nowadays they'd be worth over $100. I was at my bank about 10 years ago and I noticed the teller had 3 rolls of halves next to her...so on a whim I bought them.....went out to my truck and opened them up...and they were all Kennedy Halves from 1964-1969...I flipped out!....the 64's are 90% silver, the 65-69 are 40%
went back in and asked if she happened to have any more like this, she went into the back, and brought out 8 more rolls and yup...they were Kennedy's 1964-1969, in almost uncirculated condition...
I'm guessing some kid broke into his old mans stash of coins...
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Post by modbus on Mar 26, 2022 8:58:08 GMT -5
Wow, that was a very lucky find. It was either that, or someone had no idea what they inherited.
I write "SILVER!!!" in Sharpie on all my rolls of silver coins.
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Tequila Rob
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Formerly Known As: Guitar Fool
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Post by Tequila Rob on Mar 26, 2022 9:18:43 GMT -5
Wow, that was a very lucky find. It was either that, or someone had no idea what they inherited. I write "SILVER!!!" in Sharpie on all my rolls of silver coins. yeah...very lucky!....especially since they were all in such great condition....I keep them in clear coin cases in my safe...along with a bunch of other silver dollars..
man there is nothing like the ring of a silver dollar when it falls onto a hard surface floor.....!!
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krrf
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Posts: 376
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Post by krrf on Mar 26, 2022 9:26:16 GMT -5
In relation to SHTF. My thought has always been you'll see a quick decline in buying power with anything. First is cash. People will take cash for goods not realizing that cash is worthless, then move to precious metals for a period before those lose their value. Eventually the only thing that will have value is something that someone needs... food, ammo, fuel, etc. So it'll breakdown into an old school barter system. I always say that best investments for SHTF is two things... LEAD and BREAD. Without food and a way to defend it, all is lost.
Not that I've given thought into any of this.
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Post by Seldom Seen on Mar 26, 2022 9:59:14 GMT -5
So it'll breakdown into an old school barter system. I always say that best investments for SHTF is two things... LEAD and BREAD. Without food and a way to defend it, all is lost. Not that I've given thought into any of this. History supports precious metals. Bartering/trading was the original form of commerce but it wasn’t efficient enough. Fiat money is too efficient and thus easily manipulated. Read Griffin’s Creature from Jekyll Island for a good reference on the subject of money and banking through time.
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argo
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Posts: 403
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Post by argo on Mar 26, 2022 10:25:33 GMT -5
Although lead would probably hold its value very well,IMHO. It would be the very last, last, and last thing I would barter with. Unless I knew and trusted the other person .
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leftrightout
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Sometimes I pretend to be normal and then it becomes boring..............
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Post by leftrightout on Mar 26, 2022 16:42:05 GMT -5
Nickel, man Nickel, at least you will be able to use it for guitar strings
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Post by rok-a-bill-e on Mar 27, 2022 10:05:31 GMT -5
If talking a barter situation, which is pretty much anything other than cash during a shtf situation, I would think that a few cases of well known whisky, of a brand that you enjoy, is a no-lose proposition. It does not go bad, it is a tradable good with recognized value, even by non-drinkers, and if that bad day never comes then you have a well-stocked bar for the next few years. I wonder if it is possible to get case discounts?
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