Investing in Precious Metals

[FortTom]

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?

If there is a catastrophic devaluation of the paper dollar, you wouldn't want to trade it for cash. No one will want worthless USD's. Gold and Silver will be accepted as cash. If you're just going to sell it to convert it to cash just to have some extra folding money, And not due to some failure of our monetary system, you can sell it back to most reputable companies where you buy it, coin shops, etc.

FT

[fledge]

Stone,

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

Will be keeping an eye on the mail call thread.

[Stone]

@ Alamo Thats a great question because alot of people buy without having a path to liquidity or at least checking around to see what they can get. Pawn shops: I would stay a million miles away from them. They want to give you pennys on the dollar for PM's, friggen parasites. Finding a reputable local numistatic dealer or PM dealer is usually the best. Most online places will buy what you have but you have to ship it to them and they do prefer quantity. Yeah the whole SHTF/PM stash just isnt the way to go at it. It really is wealth preservation, insurance, and a way to keep what you have earned from loosing value. My local places are $1 under spot for bars and anywhere from $1-$3 over spot for ASE's. It depends on the buy sell spread at the time. But I wont sell unless I can quickly turn it into another investment like raw land or real estate possibly. But more than likely I will use it as a supplement for retirement. Just cash out a few 10 oz. bars once a month to pay for food, gas and monthly expenses if needed. The rest I will pass on my kids...

[FortTom]

One other small matter, is how you pay for your silver (or gold). Try to deal with a reputable dealer that allows you to set up an ACH account if you're buying online. That is you register your checking account routing number and account number. It will usually save you about a dollar or more per ounce, due to costs credit card/PayPal charges them, and thus passed on to you. You also get a better price if you buy larger amounts than just 10 or so at a time, if you feel comfortable buying in larger quantities. Believe it or not, the savings adds up pretty quickly. Some offer free shipping also, on top of that, if you buy $99 or more. I like buying from one source but check around, Stone posted a lot of reputable dealers, and some have sales on particular coins or bars.

FT

[Stone]

Alot of good info here, click on the links on the left side... https://www.free-bullion-investment-guide.com/

[Stone]

Heres a great article, his assesment is spot on but his timing was off. My research says towards the end of this year, when silver takes off its going to be stellar.

https://www.silver-phoenix500.com/article/corner-silver

[Tyrannosaur]

Just learned from a coin exchange that's local to me that if I spend more than $1000 NY doesn't charge sales tax... I do believe that's the first time I've heard :doesn't charge" and "tax" in the same sentence about NY

[Former11B]

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?

Generally, people I know through gun circles will buy it up instantly. And again, generally, it comes back around if they need cash in a year or so for whatever reason. Another reason to keep like minded folks in your “circle of trust”

They aren’t going to scalp you like a pawn shop or even a gold/silver coin store would.

[FortTom]

Folks, if you're not an expert at buying and selling PM's, try to goad Stone into providing you with strategies. I've been stacking silver for quite a while now, but made several rookie mistakes, that cost me money. I figured out how to lower my costs greatly, and through some PM's, he's told me things that make collecting my silver more profitable. Actually, I'm not investing to make a buck, but for backing my Dollars with a real source of monetary worth, over paper "money".
Now, I'm comfrable buying 100 oz. if I have an extra buck or two now and then.

FT

[Tyrannosaur]

I'm very interested in the buying part of PM. I'm sure I've made the rookie mistakes already. Any guidance would be greatly appreciated

[FortTom]

On a "related" matter, I read today that there's a meteor between mars and jupitor that contains 10,000 QUADRILLION dollars worth of gold and preciious metals. Enough that if it could be 'caught' and brought back to earth it would destroy the earths commodities market, as it would be enought to make every living human a billionaire. The whole econcomy of the earth right now is at about 75 trillion bucks.

FT

[FortTom]

I'm very interested in the buying part of PM. I'm sure I've made the rookie mistakes already. Any guidance would be greatly appreciated

Follow this link that Stone provided
https://www.free-bullion-investment-guide.com/

FT

[UWone77]

Got my silver in today. Just placed another order

[FortTom]

Got my silver in today. Just placed another order

Careful, it can be addictive. Hate to see you selling blood to get another ounce.

FT

[UWone77]

Careful, it can be addictive. Hate to see you selling blood to get another ounce.

FT

Since I'm not buying a lot of firearms lately or accessories, it frees up a lot of extra capital.

Stone - No, didn't get charged sales tax.... like you mention if they did, insane to think you're getting taxed on converting your money.