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re: Fellow OT baws - do you buy precious metals?
Posted on 12/10/17 at 1:21 pm to eScott
Posted on 12/10/17 at 1:21 pm to eScott
quote:
Who are you going to sell that gold to when the economy collapses and everyone is starving? Buy the etf.
I think you have this backwards.
If the economy collapses that ETF will plummet and be worth shite. Gold is actually the best thing you want if the economy collapses. That gold will be valuable and exchangeable in every other country in the world. An ETF of a collapsed economy ???? Uh have fun selling that in the world market.
This post was edited on 12/10/17 at 1:22 pm
1
Posted on 12/10/17 at 1:39 pm to keakar
quote:
never buy coins, they are only worth coin value and its illegal to melt them down.
Looks like it is illegal to melt pennies or nickels (law passed in 2005 when metal value in them exceeded their face value) but you can melt other coins, including silver ones. LINK
I have a few hundred bucks worth of American Silver Eagles. They are 1 ounce of silver and go for about $18 these days. I've also bought some of the commemorative issues if the subject interested me.
When you buy from a dealer, they look at the price of silver and add a premium. If you turn around to sell it, they look at the price of silver and deduct a little. So silver has to go way up before you come out ahead buying and selling at a shop.
I just got them for the hell of it. Somebody will probably cash them in and buy weed after I'm dead.
Posted on 12/10/17 at 1:51 pm to thelawnwranglers
I stockpile the most precious metal...lead.
Posted on 12/10/17 at 2:04 pm to keakar
quote:
as an investment, buying silver and gold ingots is a great investment, but you better have a damn secure safe in your home to keep them in or rent a safety deposit box at the bank for keeping them in.
What not to do
I would only buy it in ounces (coins) and store as above. I do not have any and probably won’t as I have other catastrophe vehicles but people should educate themselves regarding it. A lot is a scam.
Posted on 12/10/17 at 2:50 pm to rintintin
Ok....
Posted on 12/10/17 at 3:38 pm to thelawnwranglers
Yes, we stock up on lead in case of the Zombie Apocalypse.
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