Monitary issues
Precious Metals
Recently I have become interested in investing into silver with my son as a hobby. Many survivalist say that it should be something we buy and save to protect ourselves in case of an economic collapse. Like other investor n00bs I have many questions regarding what kind of silver to buy. I just read a post over at survivaal Blog about this subject. Head over there and read the letter and reply.
I will post more about collecting silver as I learn. If anyone has any expertise in this area please add your wisdom. I know that buying silver can be a little tricky as the price of silver is usually more than what the market worth per ounce is.
Tags: Investing, Silver, Survival Blog
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5 comments for “ Precious Metals ”
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July 22, 2008, 1:06 pm
I’m investing heavily in enriched uranium at the moment.
September 21, 2008, 11:20 am
Dear Sir,
I have been buying silver quarters for years. They are 90% pure silver and you don’t have to pay a markup over the price of silver when you buy them. I buy mine locally from LA Coin Exchange, so I’m sure there is a coin business in your area where you could acquire silver quarters. Another neat thing about silver quarters is that they look like regular quarters. So, in a financial collapse people seeking to rob you would probably not recognize them for what they actually are – silver. Since the dollar would be worthless in an economic collapse regular quarters would be even more worthless and a crook wouldn’t give them a second look. However, silver and gold “should” always be of value even in an economic collapse.
February 15, 2009, 2:30 am
Just make sure the person you’re dealing with also understands pre-64 coins and their silver content
Its one reason why I prefer rounds the stamping .999% pure silver helps even the ignorant know exactly what they are dealing with.
That said, I also have lots of “junk” silver coins as well
November 20, 2010, 1:30 pm
I highly recommend Miles Franklin for precious metal purchases/investments. David Schectman has been in the business for a few decades and writes a wonderful newsletter. He and his company offers competitive pricing, lower than the others. They do not charge you to buy back! They are not pushy sales people and run an honest business. Check them out at http://www.milesfranklin.com
January 8, 2011, 4:42 pm
I have a suggestion. Instead of trying to value silver or gold in chance of a break down as a trade good, remember that there is a good chance that should TSHTF the need and therefore value of goods would be based more heavily on need. I say “common” caliber ammunition would be more highly valued than any kind of coins. With bullets as a trade item the consumer would then have the ability to hunt for and protect his/her family. I know for me that is way more precious than gold. I would suggest .223 and .308 to begin collecting and stockpiling. And as an added bonus on average a 1000 rounds of .223 caliber bullets will cost about $400, while an ounce of silver is currently running $28 an ounce. That’s a lot more bang for your buck, if you ask me.