Is buying gold or silver still known as a good investment? What do you guys...

RumChicken
RumChicken

Is buying gold or silver still known as a good investment? What do you guys invest in?

ZeroReborn
ZeroReborn

ETFs, and large companies like home depot

PurpleCharger
PurpleCharger

what makes you think this is a good strategy?

haveahappyday
haveahappyday

Gold and silver is always a good investment.

iluvmen
iluvmen

@haveahappyday
what qtys is best to buy in? and when should a guy start buying?

whereismyname
whereismyname

dunno, but they're pretty.

Fried_Sushi
Fried_Sushi

@iluvmen
you are 2-3 years late to the party

Need_TLC
Need_TLC

@iluvmen
Gold come with a bifurcation (can't tell you shit about silver other than it's barely precious at >$20 an oz, enjoy lugging those doorstops around)

1) Owning the actual gold
If you're trying to get as close to spot as possible, but don't have gorillions at a commodity exchange, then I advise you to look for slightly scuffed Canadian Maple Leafs.

The mint changed their packaging so coins would come in tubes, requiring people to force them out with a firm slam on the table. Sometimes you can get lucky and find the slightly scuffed ones, demanding a price closer to spot.

Otherwise, I suggest buying 1 oz coins, probably American. If you want to save in gold, and can only afford 1/4 oz or 1/10 oz coins at a time then that's fine as well. Older British sovereigns (before Indians got the materials to produce them) are still reputable, but you'll be paying a premium for the history. Coins usually have more detail and are harder to impregnate with tungsten. Also, the probability of being scammed goes up when you start looking at 5 oz bars and higher.

Buy from the most reputable dealers in person, or a site like APMEX online. Preferably in person with cash.

2) Owning a claim/equity on gold
Look for ETFs or shares in companies that own gold (mines, mints, &c.). Don't know much about this as I prefer to buy & bury.

PurpleCharger
PurpleCharger

@Fried_Sushi
No hes not.

GOLD will double by fall

Evil_kitten
Evil_kitten

@iluvmen
what qtys is best to buy in?
Not more than 5% of your net worth. 1 oz coins are great (Maple Leafs, Gold Eagles, Krugerrands, Philharmonics...). Buy from a reputable dealer.

and when should a guy start buying?
Anytime.

viagrandad
viagrandad

@PurpleCharger
how do you know this ?

Methshot
Methshot

physical gold is dead money.. a good insurance policy but not an "investment"

if you gonna go the gold route, go buy some gold futures

Sharpcharm
Sharpcharm

@RumChicken
It's not an investment... it's a hedge against monetary policy by the fed.

and as a last resort for shtf scenarios

StonedTime
StonedTime

@Fried_Sushi
Not at all, unless you mean 8 years late, gold just hit the lowest it's been in 5 years and only recently started going back up. Potential for gains, but who knows what will happen.

JunkTop
JunkTop

@PurpleCharger
(You)

Booteefool
Booteefool

@Sharpcharm
If SHTF you'll be talking about gold grams and half grams, not OZs

Hedge accordingly

Deadlyinx
Deadlyinx

I've had my silver for a very long time and I haven't made 1 cent off of it

SomethingNew
SomethingNew

5% of net worth in GLD.

Don't buy coins/bullion unless you are also buying insurance on it or storing it in a bank vault.

StonedTime
StonedTime

@PurpleCharger
or not but gold really needs to literally double so you can make a little bit of money on it.

when gold is volatile the spread on buying is higher ie now is way worse to buy than 3 years ago. just saying.

DeathDog
DeathDog

@Booteefool
i bet you won't even get a can of food for your entire gold piece if srhtf.

Need_TLC
Need_TLC

@Deadlyinx
This is bait.

A retard bait.

takes2long
takes2long

@RumChicken
100% YES
Growth is coming to an end. You will see worldwide economic contraction within your life as we reach and exceed the natural limits of our planet. When everything is in decline commodities will be where you want to keep money.

Fried_Sushi
Fried_Sushi

@Sharpcharm
@Booteefool
@DeathDog
If you're buying gold for SHTF, buy it as jewelry.

You're not going to trade gold for goods once the economy collapses, people will just shoot you and take your gold or goods.

BUT-

If you keep some gold in jewelry, you can skip the boarder when SHTF and when boarder patrol tries to confiscate your gold (as they do with bars and coins) you can claim that it's all heirlooms and they all have sentimental value, making them untouchable in any 1st world country. It's a way to successfully transfer a portion of your wealth across boarders when SHTF.

Soft_member
Soft_member

Gold is generally a horrible investment, don't fall for the tin-foilers who are telling you the world is coming to an end

hairygrape
hairygrape

@Fried_Sushi
Uh if shtf borders won't even exist bro. And if they still do, they won't give a shit about muh heirlooms

RavySnake
RavySnake

@hairygrape
Uh if shtf borders won't even exist bro.
That's a very naive thought. That assumes the governments of the worls will not respond to the disaster at hand at all.

If the economy tanks and SHTF the reigning government will secure the borders as their first response.

If civil war breaks out, there will be NEW (re: MORE) borders.

If the government dissolves, the neighboring governments will secure their borders.

If a meteor is going to hit Earth, nobody is safe and we're all going to die OR existing space agencies develop a deflection plan and save the planet (and the residing countries).

Crazy_Nice
Crazy_Nice

@Fried_Sushi
It'll still probably get taken. Unless you're trying to fashion a solid gold buttplug to wear around.

Evil_kitten
Evil_kitten

@Crazy_Nice
I would agree, but only if the bordering country/government you're fleeing to is not a 1st world country or is experiencing the same turmoil as the one you're leaving.

If the former, why would you flee to a shithole? If the latter, why would you flee to the same socio-economic crisis?

Emberburn
Emberburn

@SomethingNew
I store my physical gold around the house.. I bury them in secret places. Yeah it seems stupid and autistic, but I save $200 per year on bank vault costs.

Never lost a single coin yet

askme
askme

@SomethingNew
or you could stop wasting money on insurance/vault fees and just put them in your gun safe

Nude_Bikergirl
Nude_Bikergirl

@askme

If you get robbed or your house burns down or you're hit with some natural disaster, the gold ETF will still be there.

Soft_member
Soft_member

@Nude_Bikergirl
I'm pretty sure the gold will still be there if your house burns down or floods. You should secure a gun safe to the floor/foundation of your house which would pretty much eliminate the possibility of it being wrecked by a natural disaster.

Evil_kitten
Evil_kitten

@Soft_member
You should secure a gun safe to the floor/foundation of your house which would pretty much eliminate the possibility of it being wrecked by a natural disaster.
Or stolen by Tyrones.

TurtleCat
TurtleCat

@Evil_kitten
have about 20% of my net worth in gold in a banksafe.
Why the 5% number?

Skullbone
Skullbone

@Fried_Sushi
nazis even pulled your teeth if it had gold filling dude.

RumChicken
RumChicken

@Skullbone
Kind of different - the Nazi party was also recuperating from having to pay economy-crumbling reparations for their stint known as WWI. They took fillings and heirlooms from those they considered the enemy. If you were an Aryan (friendly/same side) trying to get IN to Nazi Germany instead of fleeing, your heirloom jewelry would likely be safe.

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