Are Gold and Silver gonna keep going down?

[skyscraper]

I jut got into buying silver. I'm not buying to flip later, more of a SHTF currency stores. What is a good amount a person should have in your guys' opinion?

[smashycrashy]

In my opinion.. Zero

If the shtf literally everything else is more useful. Who cares about shiny trinkets if you are thirsty, hungry or need ammo. Find something else to stockpile...

[Ripon83]

What you can carry

Any more than you can carry is just something you have to defend.

I jut got into buying silver. I'm not buying to flip later, more of a SHTF currency stores. What is a good amount a person should have in your guys' opinion?

[Not a Cook]

I jut got into buying silver. I'm not buying to flip later, more of a SHTF currency stores. What is a good amount a person should have in your guys' opinion?

The answer to your question is ENTIRELY subjective and will thus vary from person to person. What do you consider "SHTF"? Given the "SHTF" you anticipate, how do you foresee owning silver will help?

There are those here (such as smashycrashy) who think silver will be entirely useless in any SHTF scenario. There are others here who are mindful of past events (e.g. the Nazis coming to power in WWII Europe) wherein owning gold and silver was EXTREMELY important because it allowed some folks to buy their way to freedom (e.g. out of the country). If situations like this fall into your "SHTF", the answer to your question might be based upon how many people you need to get out of the country (or area, or whatever) and how much you silver or gold you think that might require.

So... what do you mean by "SHTF"? How would owning silver help in that situation?

[Norcalkid]

[skyscraper]

Good points guys, and thanks for the input.

[getafterit]

The answer to your question is ENTIRELY subjective and will thus vary from person to person. What do you consider "SHTF"? Given the "SHTF" you anticipate, how do you foresee owning silver will help?

There are those here (such as smashycrashy) who think silver will be entirely useless in any SHTF scenario. There are others here who are mindful of past events (e.g. the Nazis coming to power in WWII Europe) wherein owning gold and silver was EXTREMELY important because it allowed some folks to buy their way to freedom (e.g. out of the country). If situations like this fall into your "SHTF", the answer to your question might be based upon how many people you need to get out of the country (or area, or whatever) and how much you silver or gold you think that might require.

So... what do you mean by "SHTF"? How would owning silver help in that situation?

The world we live in today is far from that of the early 1900's. WWI and WWII might have well been a thousand years ago. People are of a different breed today. Add to that the fact that there are fewer and fewer places where Americans could safely escape to. Not saying it can't be done just saying it would be difficult for most to survive once they got there. Now if that was not bad enough. Years ago most countries in the middle east loved Americans and the American way of life. Today that is not so much the case. We are despised south of our borders. If and when the dollar crashes other countries will have little use for us in general.
Besides if gold and silver is priced in us dollars when said dollar crashes how will we know the value of gold?

[BigBamBoo]

The whole "buy your way out of trouble" with gold/silver is waaayyyyy over rated INMHO, based on first hand accounts from my friends Jewish grandmother who was a concentration camp survivor.
She was the sole surviving member of her immediate family of 8 and most of her extended family as well.

They were Hungarians and when the Germans started rounding up Jews, her father tried to buy their way out of the round up by paying some soldiers with gold coins. She said the soldiers agreed and took the gold, only to "arrest" them.

She went on to tell of how all the family members had hid more gold upon themselves in very graphic details. I was 14-15 when she told us these stories and to hear such graphic details from a old lady was very disturbing.

So they were then deported to Poland where they were held for 6 months and then were scheduled to be moved "to more favorable locations". Her dad figured out what was going to happen and once again tried to bribe/buy the family's freedom with gold.
She told how the officer accepted the gold coins and shook her dad's hand....a very rare thing for a German to touch a Jew...and then ordered them arrested and placed on trucks. That was the last she ever saw of her family. And the only way she did not get shipped out with her family was another family had held onto her.

She said she witnessed "hundreds" of people try and bribe guards, officers, etc., only to have their gold, silver, or jewels taken and then turned in.

She was then sent to Stutthof concentration camp where she worked in the soap factory....yep...using bodies to make soap.

Shortly after that the camp was liberated and she made it to Denmark and then a year later was able to make it to New York where see worked in a hotel and married my friends grandfather.

So counting on gold/silver to be your end all savior may not be that good of a plan. Your counting on the greed of who your trying to bribe and their ability to provide what you want. Normally these people would be low on the chain of command. So probably would not have the means to really do anything.

And your relying on a In place government/power that has placed a value on gold/silver.

Most gold/silver stackers are "hood rich". Meaning you might have a few thousands to tens of thousands of dollars worth of gold/silver, but really what is that going to get you?

I have to laugh when I see people say that after SHTF that a gold eagle will buy you a house.
Or a few coins will get you on a plane with the "elite". LOL...yeah....cause your couple dozen oz of gold is going to make the people who set the value of said gold welcome you aboard.

I keep some gold and silver...mostly given to me from my dad...but do not count on it to be worth much in a true SHTF situation. I but more value on my training, and skills to see me through...and a lot of luck. YMMV.

[skyscraper]

The answer to your question is ENTIRELY subjective and will thus vary from person to person. What do you consider "SHTF"? Given the "SHTF" you anticipate, how do you foresee owning silver will help?

There are those here (such as smashycrashy) who think silver will be entirely useless in any SHTF scenario. There are others here who are mindful of past events (e.g. the Nazis coming to power in WWII Europe) wherein owning gold and silver was EXTREMELY important because it allowed some folks to buy their way to freedom (e.g. out of the country). If situations like this fall into your "SHTF", the answer to your question might be based upon how many people you need to get out of the country (or area, or whatever) and how much you silver or gold you think that might require.

So... what do you mean by "SHTF"? How would owning silver help in that situation?

Well Again, Im new to the PM purchasing, but I was thinking, (and its just a guess), that its possible for paper money to become worthless. Say there is a huge natural disaster or an event that causes large spread chaos, obviously at the start water, food, ammo will be the most useful. But If things were to die down, and civilization were trying to pick up the pieces, it may seem that things like PM's might be worthwhile. I'm just talking here, and welcome any and all ideas/opinions.

[Norcalkid]

The whole "buy your way out of trouble" with gold/silver is waaayyyyy over rated INMHO, based on first hand accounts from my friends Jewish grandmother who was a concentration camp survivor.
She was the sole surviving member of her immediate family of 8 and most of her extended family as well.

They were Hungarians and when the Germans started rounding up Jews, her father tried to buy their way out of the round up by paying some soldiers with gold coins. She said the soldiers agreed and took the gold, only to "arrest" them.

She went on to tell of how all the family members had hid more gold upon themselves in very graphic details. I was 14-15 when she told us these stories and to hear such graphic details from a old lady was very disturbing.

So they were then deported to Poland where they were held for 6 months and then were scheduled to be moved "to more favorable locations". Her dad figured out what was going to happen and once again tried to bribe/buy the family's freedom with gold.
She told how the officer accepted the gold coins and shook her dad's hand....a very rare thing for a German to touch a Jew...and then ordered them arrested and placed on trucks. That was the last she ever saw of her family. And the only way she did not get shipped out with her family was another family had held onto her.

She said she witnessed "hundreds" of people try and bribe guards, officers, etc., only to have their gold, silver, or jewels taken and then turned in.

She was then sent to Stutthof concentration camp where she worked in the soap factory....yep...using bodies to make soap.

Shortly after that the camp was liberated and she made it to Denmark and then a year later was able to make it to New York where see worked in a hotel and married my friends grandfather.

So counting on gold/silver to be your end all savior may not be that good of a plan. Your counting on the greed of who your trying to bribe and their ability to provide what you want. Normally these people would be low on the chain of command. So probably would not have the means to really do anything.

And your relying on a In place government/power that has placed a value on gold/silver.

Most gold/silver stackers are "hood rich". Meaning you might have a few thousands to tens of thousands of dollars worth of gold/silver, but really what is that going to get you?

I have to laugh when I see people say that after SHTF that a gold eagle will buy you a house.
Or a few coins will get you on a plane with the "elite". LOL...yeah....cause your couple dozen oz of gold is going to make the people who set the value of said gold welcome you aboard.

I keep some gold and silver...mostly given to me from my dad...but do not count on it to be worth much in a true SHTF situation. I but more value on my training, and skills to see me through...and a lot of luck. YMMV.

[Ripon83]

If for SHTF

If your intent is not investment but for SHTF then is a $1.3 more now worth having a coin people can trust vs a minting co I've never heard of or don't trust? It's not that U.S. Or Canadian Mint coins can't be counterfeited but it's less likely and their weights are available so tampering with the coin is hard.

I do not invest in PMs. I do believe in them as a means of helping in a SHTF and I'm intrigued with the idea of accumulating them to sell during retirement because it would be more like hobby / non taxable / unreported income. Think of it as a regular garage sale. I haven't gone there yet just thinking out loud.

As a SHTF commodity I prefer pre 64 silver US dimes, quarter and dollars. I do like a few Canadian Maple Leafs (silver) with high face dollar value as well. Still don't have much more than I can carry.

Got a few questions for ya’ll. I went to the local shop today to find out about buying some silver. Looks like $1.70 over spot for rounds and $3 over spot for minted coins (seems about the same as online). They have to order; you buy at today’s price but don’t get it for like a week.

Anyway, I guess I’m wondering if there is any reason to pay more for minted coins vs rounds? More recognizable for trade? I don’t know. What do you guys think. Is it worth an extra 8% for minted coins (totaling like 20% over spot)? I’m not like super prepper or anything but my thought is if the dollar ever takes a **** it would be nice to have some physical PMs around. I am thinking of 1oz silver because they seem like a good trading size (like a pocket full of 20s vs trying to get change for bugger bills)
Thanks

[olhunter]

I have no more money to 'invest'. My goal was really SHTF/financial meltdown 'protection' anyway.

Then put it away and forget about it. Don't worry about daily price swings.

Maybe someday you'll go and remember you have it stashed away and it has some real value.

[the86d]

Provident is down for maint. again.

Welp, at least JM has prices (for the stuff I am looking at that purchasing) even lower than Provident's, and JM has Sunshine Mint's "security/decoder" cards available.

[anthonyca]

IMHO, when ever there is a panic and everyone sells, they go to cash (many different currencies but mostly dollars). Someday the masses will suddenly realize that the worthless or just declining value assets are being bought by cash created from taking those assets as collateral (quantitative easing ) and creating more cash. They will rush into the next thing, which may be PMs and they will shoot up into a super bubble for a short time.

When is that going to happen and what is the top of that bubble? No one knows.

[ohsmily]

Going to buy a maple leaf to add to my gold collection given that gold is at 1146 as I post this. Best I found out the door including shipping is 1192...anyone have a better price than that (premium below 46 including shipping?)

ETA: I have now found 39 over spot out the door shipped.