Investing in Precious Metals

[Stone]

Gold, Silver... Palladium, Platinum. What are you guys into ?

Where do you buy yours? Just thinking about diversifying a bit...

I will try to sum up the last 4 years of major research and buying.

Rule 1: ALWAYS, ALWAYS, ALWAYS take physical possesion of your purchases. If you dont HOLD IT you dont own it.

Rule 2: You DO NOT "invest" in PM's (precious metals). Precious metals ARE money (Gold and silver) Always has been and will always be. It is wealth preservation, and insurance. Look what the constitution says... Forget about platinum and palladium for now, its a whole different animal.

Rule 3: ONLY, buy from a reputable dealer. FT listed a few I will add more below.

The dollar IS debt based and currently worthless, nothing is backing it and they are running the printing preeses 24/7. Look up the US debt clock, bottom right hand corner and you will see the silver and gold to dollar ratio, its out of control. The only reason a dollar still works is because the masses "beleive" it has value.
There is alot going on behind the scenes with PM's. Price manipulation to the downside and massive hoarding by TPTB. China, Russia, big banks, and big money have been accumulating gold and silver for the last few years hand over fist. Long story short, something big is coming down the pipeline and everyone is moving away from the dollar. Way to much to say on this issue but its better to "do as they do" not what they say.

With a GSR of 92:1 as of this writing (gold silver ratio) The play right now is silver. The USG is allowing certain big players to manipulate it to the downside to keep the dollar alive. Thats a pandoras box of information but I am trying to just give you the nuggets. Now is a great time to buy...

Premiums: That is what you will pay over the silver and gold spot price. Thats how the dealers make money. The percentage over spot depends on what you buy. As a new buyer, keep it simple. ASE's American silver eagles, the more you buy the better the deal you get. Get a monster box-500
100 and 10 oz. bars will keep it simple as well. Again, the more you buy the better the deal is.

SD bullion- great guys! Best prices
JM bullion- Excellant dealer- little bit higher prices
Apmex- good dealer but high prices.
Golden state mint- Top notch, great prices
Bullion exchanges- Good prices, great CS.
Provident metals- Good dealer, average prices.

Sign up to those sites for their emails. They all have new weekly deals. Buy with cash/check, much better prices as all of them charge 4% for a CC use, industry standard. If you buy PM's you need to know they can be extremely volatile to the upside and down. Dont compare your holdings to a dollar value as the dollar has no value. Long story short but in my insane amount of research on silver, something big maybe happening in the 3rd or 4th quarter of this year. If your going to buy, do it now. Gold is already showing signs of a breakout. There is so much more I want to say. Understanding liquidity and what your state charges for up front taxes on purchases is another few things to consider. The major online dealers just started charging taxes but it varys from state to state. Think about that, we are being taxed on changing one form of money for another!! Thats like going to the gas station and asking for change for a dollar and the girl gives you back .92!
Shoot me a PM UW and we can chat off the record. I can guide you through your first purchase...

Also silver gets heavy real quick, 70LBS. per 1000 oz. A good safe and other options is advisable. You may get to a point where you will switch to gold...

As long as I can keep trading worthless paper dollars for real money(silver) I will keep doing so. Right now silver is so undervalued its insane..PM's are a long term play, buy it, put it away and forget about it.

[Stone]

Alot of great info here: https://www.jmbullion.com/investing-guide/

[UWone77]

Thanks for chiming in Stone. I seemed to have recalled that you were into precious metals back in an older post.

With all the quantitative easing, I just wanted tangible money instead of paper.

[mustangfreek]

Never had the extra coin to purchase vest on stocks or PM’s

Honestly dont get it, have watched silver and gold for over 10 years... and it’s lower now, and never jumped up crazy like..

Maybe I don’t see it..Sure if I had extra cash burning a hole in my pocket..but..ehhh

[UWone77]

Never had the extra coin to purchase vest on stocks or PM’s

Honestly dont get it, have watched silver and gold for over 10 years... and it’s lower now, and never jumped up crazy like..

Maybe I don’t see it..Sure if I had extra cash burning a hole in my pocket..but..ehhh

I guess my title is misleading. It's not so much an investment, but to convert paper money into "real" money. Like Stone said, the dollar is essentially only worth a dollar because people believe it's worth it based on the backing of the US Government. And we're 20 Trillion in debt. What happens when people start moving away from the dollar, like China would love to do?

[Former11B]

And if I could suggest one thing: buy local and buy in cash.

The Federal government HAS seized precious metals before, and one warrant to those online places and they’ll have a list of who’s purchased anything from them

Even JM bullion says “it could happen again”:

https://www.google.com/amp/s/amp.jmb...cating-metals/

[UWone77]

And if I could suggest one thing: buy local and buy in cash.

The Federal government HAS seized precious metals before, and one warrant to those online places and they’ll have a list of who’s purchased anything from them

Even JM bullion says “it could happen again”:

https://www.google.com/amp/s/amp.jmb...cating-metals/

Yeah I think we all have items that are on some kind of list. Especially NFA items.

Precious Metals, we can easily claim we sold them, melted them down, lost them. I see what you're saying. I have nothing good to say about FDR.

[MoxyDave]

A couple more things to keep in mind: I believe certain coins are exempt from Capital Gains taxes such as Gold Eagles (not 100% sure on that), and be careful how much you buy at once:

https://www.jmbullion.com/investing-...-transactions/

https://www.jmbullion.com/reportable...s-infographic/

[Stone]

Also if you buy silver, get a good scale and weigh everything. And a good strong rare earth magnet for testing.
This is the one I have: https://www.kjmagnetics.com/proddeta...prod=DX08B-N52
https://www.hogentogler.com/ohaus/oh...pact-scale.asp

Make sure your scale reads troy ounces or OZT.

If you ever start buying gold I would highly suggest getting a tester: https://sigmametalytics.com/

[Stone]

[mustangfreek]

I guess my title is misleading. It's not so much an investment, but to convert paper money into "real" money. Like Stone said, the dollar is essentially only worth a dollar because people believe it's worth it based on the backing of the US Government. And we're 20 Trillion in debt. What happens when people start moving away from the dollar, like China would love to do?

I hear ya..

what does China want to move to? Trading rice or cup o noodles?

[UWone77]

I hear ya..

what does China want to move to? Trading rice or cup o noodles?

I would venture to say they would rather use local currencies. Russia and China are actively, proactively working against our interests abroad and of course hitting us at home when they can through cyber warfare. Hitting countries with sanctions would be tougher for us if we went away from the dollar.

[UWone77]

Stone,

Thanks for the tip, ended up with a lb of silver coming my way from SD Bullion.

[Stone]

No problem. Did you have to pay taxes at checkout? Curious what your states laws are... You are in WA. right?

[alamo5000]

I've been reading a bit and assuming you're not in it to be like "I got myself a bunker and a few pounds of gold to survive the apocalypse" and that it really is a diversification strategy, how do you offload or exit from the investment when the time is right or when you need to get cash?

I'm sure they will have pawn shops after the collapse, (maybe more than now), but aside from that what's the usual route to sell?