Gold and silver prices are down

[not new guy]

In the event of total market collapse I will just cash everything in - hopefully before the crash and with the hope that eventually the market will recover.

Good luck with that.

 

[BerkshireHunter]

Look, you believe what you believe and I can appreciate that and none of us are here to try an influence anyone otherwise. I happen to think you're logic is a little flawed, but wtf do I know? PM investing is definitely to preserve capital--we agree there 100%. Where I think you're being foolish is completely discounting PM vs the Market and\or mutual funds AND "hoping" (your words not mine) to cash everything in before the crash. You and everyone else are hoping for that and unless you're connected, the chances are so slim...FWIW, I am NOT saying that investing in the Market is fruitless or stupid. I am saying that diversification is the key.

My recommendation for anyone is 15-20% of they INVESTMENTS be in PM as a hedge. I'm not an "all or nothing" kinda guy. I'm rocking the 401k--which still has not recovered from 2008. However my gold purchases in 2008 have far exceeded the paper "assets" in value. A buy in the $930oz neighborhood is looking like pretty good even now @ $1380oz. It was spectacular @ $1900oz. My 401k still hasn't reached it's previous 2008 levels. Again, YMMV.

Gold and silver aren't even really performing "better or worse" like stocks, only thing changing is perception of the dollar in highly manipulated financial markets, which of course always fail. How long rigging can last is anyone's guess.

 

[RLBreton]

Gold and silver aren't even really performing "better or worse" like stocks, only thing changing is perception of the dollar in highly manipulated financial markets, which of course always fail. How long rigging can last is anyone's guess.

Well said

 

[dans]

In the event of total market collapse I will just cash everything in - hopefully before the crash and with the hope that eventually the market will recover.

I had a friend who never wore seat belts because he said "If I get into an accident, I'll just reach over and snap it on."

 

[sacksjacked]

I had a friend who never wore seat belts because he said "If I get into an accident, I'll just reach over and snap it on."

not smart. he still around?


like some other guys have chimed in, it's not a bad idea to diversify into PM, not go all in but a % of your investments.

 

[Blstr88]

Every time I hear the hype about PM's I go an check out the performance over time. It seems like people (institutional and professional investors) try to time their buy/sell cycles with stock market performance. They invest in metals when the market is sucking, and dump them when the market is cruising (like now). As far as I can tell, the only reason to buy PM's is to preserve value or capital. You are not going to make money, not a lot anyway but you likely have something that you can sell in the event of a total market collapse.

Professional investors? I would imagine those investors arent doing too well...gold/silver prices seem to fluctuate exactly opposite the stock market. It's almost fail proof that when the market has a really good day, gold/silver trickle down a bit...and vica versa.

If anything, you want to buy gold/silver when the market is UP, then sell when its DOWN...

 

[Rider]

I had a friend who never wore seat belts because he said "If I get into an accident, I'll just reach over and snap it on."

I only had to cut one telephone pole in half in order to learn the value of seat belts. Taking reasonable precautions to hedge against foreseeable events is just common sense. Doing nothing is just as bad as hiding in your basement. People are free to live as they wish, but seat belts and helmets are cheap insurance, IMHO, and I've walked away from enough crashes to know better.

 

[JohnZ]

Professional investors? I would imagine those investors arent doing too well...gold/silver prices seem to fluctuate exactly opposite the stock market. It's almost fail proof that when the market has a really good day, gold/silver trickle down a bit...and vica versa.

If anything, you want to buy gold/silver when the market is UP, then sell when its DOWN...

That doesn't seem to hold true over the long term. What was the stock market at when gold was 300/oz? I'm guessing it was somewhat less than the 15k it is now.

I think I did read that there's a correlation with inflation.

 

[mclina]

Just checked APMEX, and silver is at $19.80.

 

[Blstr88]

Just checked APMEX, and silver is at $19.80.

Im overseas and totally out of the loop...but wtf happened yesterday? Silver below $20, gold lost $70+, AND the market was down 350+?

 

[not new guy]

Im overseas and totally out of the loop...but wtf happened yesterday? Silver below $20, gold lost $70+, AND the market was down 350+?

Bernanke wasn't enthusiastic enough about the fact that he's going to be maintaining the current bond purchasing pace. He hinted at tapering things off if everything gets better.

 

[Prepper]

Just checked APMEX, and silver is at $19.80.

I wish I was in a good position to buy some now. I had thought it was unlikely we would ever see these prices again.

I think this is good though, not just for a buying opportunity. It means the sheep are calming down and think things are getting better. They aren't really, but it is a self fulfilling prophecy. Things will be a little better for a while, giving me more time to prepare.

 

[Rider]

I think this is good though, not just for a buying opportunity. It means the sheep are calming down and think things are getting better. They aren't really, but it is a self fulfilling prophecy. Things will be a little better for a while, giving me more time to prepare.

At the moment, there is a lot of speculation that gold will come down further, to 1,200 or even 1,000. or it may not. There is enough uncertainty in the markets(obviously) that over-reactions can easily turn into what we saw the other day. The general view is that the QE is propping up values of all assets and that when it goes away, the markets will tank - across all assets. This is somewhat contradictory, as the end of QE is supposed team that the economy is improving, but then you can't just remove a few trillion dollars from the econy and expect nothing to happen

Remember, part of your prepper planning should include what you're going to do if the world doesn't come to an apocalyptic end. as horrible as it sounds, what will you do if the current sociopolitical environment fails to produce the total collapse it seems to be courting within your lifetime?

 

[Tracer1951]

[Remember, part of your prepper planning should include what you're going to do if the world doesn't come to an apocalyptic end. as horrible as it sounds, what will you do if the current sociopolitical environment fails to produce the total collapse it seems to be courting within your lifetime?[/QUOTE]



What do you mean "If it doesn't come to an end???

What .. does that mean I will have to eat all that crap tasting survival food I have stock pilled for the last 5 year?....... I've forgotten half the 200 places I've buried weapons all over NH and now I have to find/dig then up? And the AMMO... WTF.... is the government looking to buy any more? I think I have enough to meet the needs of the DoD for the next 4 years!!! Man this is REALLY BAD news! A life time of progressively worse TV and music, butt crack / underwear showing fashion (on guys ( ), more political elections where our choice is not who to vote for as the best candidate, but which one will be the least worst.

Heck where are the zombies when you REALLY need them!!!

 

[Rider]

Sorry man, I didn't mean to bring you down on such a beautiful Sunday morning.

Anyway, it was only hypothetical.

From what I hear, season 16 of "Ow! My Balls!!!" is hilarious.

 

[Pelikan]

Would someone like to educate me on spot price versus 'out the door' price?

It looks like it costs the dealers the 'spot' price, then they add 18-25% ??

 

[browniee]

Buy it, I have been buying it back when it was 300 an oz bought one a month for years, why i don't know. stopped when it went to 500. then when king douche bag became president, F*ING JOKE. took 10.000 from ira account and bought more. who knows, but at least you can hold it in your hand unlike your stocks. DIVERSIFY THEY SAY.

 

[Rider]

Would someone like to educate me on spot price versus 'out the door' price?

It looks like it costs the dealers the 'spot' price, then they add 18-25% ??

Spot price is what the metal costs in the commodity markets at any given time. During the trading day, spot price fluctuates. Your price to buy the physical metal at any given point in time will be the spot price plus whatever mark-up that dealer wants to charge, and you are willing to pay. It isn't a set percentage, and counter-intuitively, it goes up as metal prices go down.

If anyone here wanted to do it justice, it would be a long post. Better for you to go to APMEX, Gainesville Coins, or any other dealers' sites and read their tutorials. It will help you a lot. Just don't buy too much of the hype about how you must buy it all NOW! They always say that.

You can also search this forum. There are a lot of good threads that talk about this in detail. It might take a bit of time to read them all, though.

 

[Pelikan]

Thanks, Rider.

I have been reading those sites, and wonder at their use of terms like 'small premium'.

Is there a good site or two that are known for the lowest prices? Talking about one ounce bars or coins, not the 10 or 100 ounce ones...

Thanks again, I'll search for those articles now.

 

[Horrible]

Thanks, Rider.

I have been reading those sites, and wonder at their use of terms like 'small premium'.

Is there a good site or two that are known for the lowest prices? Talking about one ounce bars or coins, not the 10 or 100 ounce ones...

Thanks again, I'll search for those articles now.

Depends upon how you plan to pay. You'll pay a bit more over spot with CC than with a wire transfer. Gainesville Coins prices are pretty good for the wire transfer and even credit/debit cards. But I also know people that have had good experiences through APMEX as well.

 

[Pelikan]

Gainseville Coins has a good rep around here?

 

[Hiltonizer]

Gainseville Coins has a good rep around here?

They have a good rep but aren't known for great pricing. APMEX and Provident Metals are pretty much the standard. Shipping charges can be a real killer with them last I checked.

 

[Rider]

They have a good rep but aren't known for great pricing.

Really? I prefer Gainesville because they seem to be consistently lower than Apmex.

Before the hoopla, they seemed to ship a bit faster too.

 

[tryit]

why is it unlikely? FDR did it, the stroke of a pen and some phone calls/emails will suffice to do it again (seize gold). Did you even KNOW that many thousands of US citizens, many of them NOT Japanese were stuffed into horrendous concentration camps for ww2? The US govt has ADMITTED to having committed horrendous acts, man.

 

[ASHDUMP]

Throwing my 2 cents out here... I'm 31 now but have been buying silver for the past 3 years for novelty reasons, hedge against SHTF scenarios and for long term investing. At no point am I purchasing physical silver for monetary investment to reap at the retirement age. Hopefully when I hit the ripe old age of dead my silver will go to someone in my family and they can do with it what they will. I purchase mostly round bullion in all sizes - 1/10, 1/4, 1/2 and 1 oz. I have a couple stackers but that won't do well when SHTF.

All of my silver has been purchased thru Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins and never had a problem with them. I do hate the idea of paying for shipping but it seems to be the easiest way for now. I'm sure there are good stores/pawn shops etc but I just don't know where they are.

Is there a good website with a list of places in new england/MA? I'd rather spend $200 at a time locally.

 

[Twigg]

Is there a good website with a list of places in new england/MA? I'd rather spend $200 at a time locally.

Inquiring minds want to know !
I'm looking for a good source in NH.

 

[Hiltonizer]

Throwing my 2 cents out here... I'm 31 now but have been buying silver for the past 3 years for novelty reasons, hedge against SHTF scenarios and for long term investing. At no point am I purchasing physical silver for monetary investment to reap at the retirement age. Hopefully when I hit the ripe old age of dead my silver will go to someone in my family and they can do with it what they will. I purchase mostly round bullion in all sizes - 1/10, 1/4, 1/2 and 1 oz. I have a couple stackers but that won't do well when SHTF.

All of my silver has been purchased thru Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins and never had a problem with them. I do hate the idea of paying for shipping but it seems to be the easiest way for now. I'm sure there are good stores/pawn shops etc but I just don't know where they are.

Is there a good website with a list of places in new england/MA? I'd rather spend $200 at a time locally.

shipping will be the least of your woes in person, these guys have a shop to keep open and aren't exactly known for competitive pricing. type "New Hampshire coins" into google maps and you'll find no shortage of them, and reviews.

 

[highscore]

Anyone buy from "Buy or sell gold bullion, swiss gold bars, silver bullion, silver bars, Chinese Lunar gold coins, 90% silver bags, us gold eagle, gold coins, gold Krugerrand, precious metals at www.golddealer.com" California Numismatic Investments.

 

[weekendracer]

THIS.

Plus--I am _not_ a fan of buying metals on plastic for 2 reasons: 1) it costs you interest unless you're paying it off immediately and 2) it COMPLETELY takes out the anonymity out of the equation.

I may be screwed then, because they'll know I have silver and an 'arsenal' waiting for them. I buy ammo online, most of my guns were bought out of state and shipped to a local FFL. Plenty to track me down. Then again, they'll probably ask me to raid my own house considering how bad inter-agency communication is.

 

[Rider]

I may be screwed then, because they'll know I have silver and an 'arsenal' waiting for them. I buy ammo online, most of my guns were bought out of state and shipped to a local FFL. Plenty to track me down. Then again, they'll probably ask me to raid my own house considering how bad inter-agency communication is.

Well, the good news is that guns become deadlier and more dangerous based on their proximity to large cities, so you will likely be far down the list of people who receive a visit, and will have much advance notice so you can relocate to your retreat in the - oh, you're already in Maine, never mind. ;p