Silver Purchase Question - Emergency Reserves
sebrown
Posts: 424 ✭
I will be purchasing 1K-oz of silver rounds within the next couple weeks or so, and I'm looking for knowledgeable insight into which to purchase - ASE, Maples, Buffalos, etc. Without sounding full of doom and gloom, I foresee some very tough times ahead and want to plan for the worst possible scenario if it materializes, hence the 1-oz purchase size.
If you had $16k to spend on silver, considering my reasoning for the purchase, would you pay the higher premium over spot to purchase ASEs or go with a lower over spot premium such as the Buffalo and be able to purchase more silver. Thanks in advance for your replies.
Scott
If you had $16k to spend on silver, considering my reasoning for the purchase, would you pay the higher premium over spot to purchase ASEs or go with a lower over spot premium such as the Buffalo and be able to purchase more silver. Thanks in advance for your replies.
Scott
"In the absence of the gold standard, there is no way to protect savings from confiscation through inflation [...] Gold stands in the way of this insidious process. It stands as a protector of property rights." - Alan Greenspan
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Comments
The ASE's are nice but I would buy well known rounds and avoid the higher premium.
Just my opinion tho. (but thats what I'm doing)
Do not purchase silver from governments that could possibly be the source of the S Hitting TF. Examples would be China, Russia any Islamic nation, etc... as that silver could prove to be a liablity for you down the road.
Another good option would be U.S. 90% silver coinage. If you went this route stick with Roosevelt Dimes, Washington Quarters and 1964 Kennedy Halves as they hold the smallest premium of the 90% lot.
Other than that, what Cladiator said...
<< <i>$16k in silver is a lot of silver (over 1200 oz .. or 100 troy lb) .... storage may become an issue. Why not purchase gold fractionals? >>
This is for a scenario in which it would be used to purchase everyday subsistance items, so I think even fractional gold would be worth too much to spend on basic items. For storage, I have two extra-large safe deposit boxes at only $30 ea per year, and if there becomes a need to remove it from the bank, I have a safe at home large enough to store that amount - protected by two firearms o'course.
I'd rather plan for the worse, have nothing happen, and sell later (even at a loss) than to not prepare at all and then find myself unable to provide for the family during a major and prolonged economic catastrophe.
<< <i>I'd rather plan for the worse, have nothing happen, and sell later (even at a loss) than to not prepare at all and then find myself unable to provide for the family during a major and prolonged economic catastrophe >>
What are your plans for 12/21/2012?
I also agree with clad and would stay away from china, russia, etc. I'm also not a fan of Mexico at the moment as I don't have faith that their government will be able to win the war they are waging with drug dealers. Mexico is basically in a state of delayed civil war as we speak, and it makes me nervous as hell, and you never hear anyone talk about it. Long story short, I'd pass on Libertads if you are thinking of only a true SHTF scenario and stick with ASE or Maples.
The battle scars of all the good times
If we are in a truely enormous economic crisis and you are using your Austrian Philharmonics (labeled 1.5 Euros) to buy goods from people who have never seen or heard of the existance of Austrian Philharmonics. They may well not trust them and you.
Bottom line is that in a SHTF scenario involving the use of silver as a tool of barter you want to both minimize the chance of someone having a negative association to or being unfamiliar/untrusting of your silver type & maximize the trust, comfort and recognition of the silver you have.
Having said all this, in an honest to God SHTF scenario precious metals will not be a major player when it comes to your average person trying to survive. Water, non-perishable food, medical supplies, fuel, batteries and ammunition will be the things with a truely high value. You can't eat silver and you can't power a radio or mend a wound with gold.
<< <i>Having said all this, in an honest to God SHTF scenario precious metals will not be a major player when it comes to your average person trying to survive. Water, non-perishable food, medical supplies, fuel, batteries and ammunition will be the things with a truely high value. You can't eat silver and you can't power a radio or mend a wound with gold. >>
I will not be depending on this alone. Quite the contrary. I have been building my emergency supplies for about 6-months now, with much help from this list. I know that I sound crazy, but hey, better safe than sorry.
<< <i>Eric, don't forget you and I are in California. Those Libertads will likely serve us just fine when the fan gets hit in our area.
Si, la verdad. Vivimos in California. Que Lastima.
I would stay away from eagles, too much premium that will evaporate like a fart in the wind when its time to sell or barder. Stick to .999 1 oz rounds, preferably a well known brand like englehard, or something , but only if the premium is not substantially more.
JIm
I'm in favor of more firearms, but in sticking with the thread, Cladiator's advice is quite sound.
<< <i>ensure that you spend about 1/8 of your PM expenditures on the means to feed and maintain those two firearms.
I'm in favor of more firearms, but in sticking with the thread, Cladiator's advice is quite sound. >>
Agreed about the ammunition. My ammunition supply makes my precious metal supply look like childsplay. Ammunition and firearms are the key to surviving these situations for two reasons. #1 - When nothing you have is valued enough to purchase what you need you can use your firearms and ammunition to take what it is you need to survive. #2 - You will need your firearms and ammunition to defend yourself and your family from those that have already reached #1.
or will lead do?
In a choice between a Clown on a 100% Round or Frankie on a 90% Coin with no scale to verify, I'll take a Frankie.
On the ammo thing, it does tend to accumulate just like coins, doesn't it?
I knew it would happen.
buy two Green Monster Boxes.
<< <i>Let's hope it never comes to any of this
Don't worry, it won't. This is the doomsday board, take all you read here with a grain of salt. Folks here are more excitable than Barney Fife at a burglar's convention.
<< <i>I like 90% US Silver Coins.
In a choice between a Clown on a 100% Round or Frankie on a 90% Coin with no scale to verify, I'll take a Frankie. >>
Click on this link to see my ebay listings.
buy two Green Monster Boxes."
Yeah, that's the ticket. And...don't forget the ammo.
I would but a couple 100 oz. bars and the rest in 10 oz bars.
90% silver coins of course.
I have people bring in silver rounds and bars and have no idea what they are.
But they do know they have Silver coins
And these are the people you'll be bartering with for goods and service
<< <i>Having said all this, in an honest to God SHTF scenario precious metals will not be a major player when it comes to your average person trying to survive. Water, non-perishable food, medical supplies, fuel, batteries and ammunition will be the things with a truely high value. You can't eat silver and you can't power a radio or mend a wound with gold. >>
I always love that that argument. The reality is that there will always be people/groups with excess supplies. What is a farmer going to do with a field full of corn? What will they be willing to trade/sell it for? Aside from different types of supplies, they will trade it for commodities with real value that are easily traded, measured, and won't rot/decompose, and stores easily. i.e., gold and silver. Gold and silver ARE money. Always have been, always will be.
Second choice would be the monster boxes of either Silver Eagles (or.... Canadian Maple leafs).
And don't forget the sound advice of a couple of guns and plenty of ammunition. There are ALWAYS those who are more than willing to take what is yours, and when times get bad, even more so.
500 - 2009 1 oz Silver American Eagles in Sealed Green Monster Box
Current Bid USD 8,111.00
Start Bid USD 8,100.00
Quantity 1
# Bids 4 [ view history ]
Location Nanaimo, British Columbia
Country Canada
Time Left 0 days 00h 26m 31s
Start Time Jan. 29, 2009 11:03:06
End Time Jan. 30, 2009 12:45:00
Status Open
I have a very strict gun control policy: if there's a gun around, I want to be in control of it - Clint Eastwood
<< <i>
<< <i>Having said all this, in an honest to God SHTF scenario precious metals will not be a major player when it comes to your average person trying to survive. Water, non-perishable food, medical supplies, fuel, batteries and ammunition will be the things with a truely high value. You can't eat silver and you can't power a radio or mend a wound with gold. >>
I always love that that argument. The reality is that there will always be people/groups with excess supplies. What is a farmer going to do with a field full of corn? What will they be willing to trade/sell it for? Aside from different types of supplies, they will trade it for commodities with real value that are easily traded, measured, and won't rot/decompose, and stores easily. i.e., gold and silver. Gold and silver ARE money. Always have been, always will be. >>
I guess it depends on the shtf scenario. In a global currency crisis, pm's might trade as the new currency. In a post-Apocalyptic Mad Max scenario, the LAST thing people will be looking for are silver rounds and AGE's.
<< <i>In a "madmaax" situation I wouldnt expect my neighbors to be selling me food for silver coins. What Id expect is a ship in Long Beach or a farm in midAmerica loaded with food (etc) and armed guards selling to those with something of value to pay. >>
Exactly. Enterprising individuals will already have all of the "practical goods" that they need. They won't need any more ammo, food, oil, etc. They'll trade for valuables, and the best form of such will be gold and silver bullion.
<< <i>I wonder about the 90% silver answer... will most people know that they are worth more than face value? >>
There is probably some in the population that would not know.... especially the younger portion. But they would learn quickly what is of value and what is not.
Yes, those who say you cannot eat silver are correct.... but neither can you eat real estate, guns, ammunition, first aid kits.... and on and on. Silver is a TOOL just like the others are... it has its specific use. Which in a time such as we are discussing, would be as an equalizing medium of exchange, and one that has a more universal use.
For an example, let's say you have plenty of food.... and you want to trade some of it with someone who has ammunition that you want because you are short of it. But that person does not want to trade for your food, because he is well stocked already. So perhaps he will accept your silver, which he will then use to barter with someone else that has the kerosene that he is truly in need of.
That is how money came about in the first place..... as an equalizing, portable medium of exchange that will be a store of value. If SHTF, that will not change. You will STILL need something to meet that function, since straight across trades would be very difficult to work out, due to differences in values, quantities, etc.
Those holding 100 ounce bars of silver would find it difficult to get their value back in such a situation, unless they are obvously doing a BIG trade of some sort....
Recipient of the coveted "You Suck" award, April 2009 for cherrypicking a 1833 CBHD LM-5, and April 2022 for a 1835 LM-12, and again in Aug 2012 for picking off a 1952 FS-902.
That is pretty interesting in and of itself, and there have been some well thought out reasoning behind peoples ideas.
You know what else would be valuable in a complete "mad max" type scenario? Jars of Vicodin and Penicillin.
We've all talked about silver, food, various sundries, and guns. I want all of those things. But I would immediately begin trying to use at least some of those things to get myself large quantities of painkillers and antibiotics. Picture it: Economic collapse, everyone fending for themselves, all ehll breaking loose with violence and looting adn starving everywhere you look. You have yourself and your family well situated and fortified. You have tons of food, tons of toilet papers, a wide selection of guns, and abundant levels of dry ammo. Your generator is running, you've got enough diesel fuel to power your fortress for a year and a half.
And Then........... you get an ungodly awful painful tooth abscess.
I'm telling you - painkillers and antibiotics will be worth MORE than silver or gold. And are just as easily stored and portable. Though admittedly the shelf life isn't quite as long.
<< <i>Where can acquire large quantities of effective painkillers (lawfully)? >>
Hell if I know. Antibiotics either. I don't think you can walk into a drugstore and ask for 1000 count 500mg amoxicillin.
Better option.... have an ample supply of over the counter types. Not as effective, but better than nothing.
And don't forget green cash. It'll buy a LOT before the rubes wise up and demand precious metal.
WTSHTF would be wild.
Dopes would STILL be taking "money."
It would probably be easier to convince them if the coin is not a design that has been duplicated in clad. That's why I would prefer Franklin and WL halves to Kennedys, and Mercury dimes to Roosevelts.
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<< <i>>>I wonder about the 90% silver answer... will most people know that they are worth more than face value?<<
It would probably be easier to convince them if the coin is not a design that has been duplicated in clad. That's why I would prefer Franklin and WL halves to Kennedys, and Mercury dimes to Roosevelts. >>
Valid point.
<< <i>Where can acquire large quantities of effective painkillers (lawfully)? >>
My wife raises registered dairy goats and we buy pennicillin and amoxicellin at the vet.
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www.marksmedals.com