Any advice for an investment "n00b"?

Discussion in 'Money, Investing & Precious Metals' started by Magus, Dec 11, 2008.

  1. Magus

    Magus Scavenger deluxe

    6,674
    17,679
    I'm on a fixed income,but I feel the need for some "real cash"in case the economy does what it looks like its going to do.

    I can't afford gold anymore,but silver is still within my reach,I used to stash both nuismatic and bullion,but which is better?I want to fill an ammo can by spring!what's cheap and availible and best to store?
     
  2. kassiekleer

    kassiekleer Guest

    4
    0
    Silver

    Magus, apmex.com sells 90% silver coins (the ones issues pre 1964) in small quanitites, I think as low as $10 face value, which costs around $100 but varies with spot. They mail it to you.
     

  3. Magus

    Magus Scavenger deluxe

    6,674
    17,679
    Cool,I'll give it a look!thanks.
     
  4. TechAdmin

    TechAdmin Administrator Staff Member

    2,244
    47
    Have you bought from them before kassie?
     
  5. Canadian

    Canadian Well-Known Member

    1,512
    0
    Don't buy coins. The numistic value will go out the window when times get tough. An ounce of gold is an ounce of gold no matter what is stamped on it. If you can get a fireproof safe instead of the ammo box. Buy bullion. Get both gold and silver. Use the silver to buy small things. Use the gold for major purchases. You can get one ounce slips of both. You can get even smaller slips if you want.
     
  6. Canadian

    Canadian Well-Known Member

    1,512
    0
    BTW - lately gold fluctuates between 750 - 800 an ounce. Try to buy below $750. I always check the price daily here:

    Live Gold Price
     
  7. Magus

    Magus Scavenger deluxe

    6,674
    17,679
    I'm a bit on the poor side,Silver is what I'm after.
     
  8. kassiekleer

    kassiekleer Guest

    4
    0
    Yes, Dean, I have used Apmex.
     
  9. The_Blob

    The_Blob performing monkey

    4,230
    4
    depending on where you live & what you are investing for; investing in things that will make you more self-sufficient or things other people may need maybe a better idea than some hunks of metal you can't eat in an emergency :D

    but seriously, food staple prices are rising much faster in value (about 10%) than almost anything else
     
  10. Canadian

    Canadian Well-Known Member

    1,512
    0
    Blob - Don't underestimate the power of greed. That's the appeal of gold. Greed is what collapsed the economy. It's what continues to prop up the price of gold. As long as there are greedy people to trade with there will be a great desire for gold.
     
  11. Magus

    Magus Scavenger deluxe

    6,674
    17,679
    Stock market is tanking to the tune of 250 points as I type!
     
  12. dukman

    dukman Greenhorn

    96
    0
    Don't underestimate the power of NEED....

    Those greedy people will want your gold in YOUR time of need, and will trade you a loaf of bread for that 1 troy oz of gold... and you WILL do it because you NEED that bread.

    If you do not have much to invest, invest in NEED. Not GREED.

    "It's what continues to prop up the price of gold." - In other words, it is highly over-inflated in value right now. If the economy was to collapse, that bird in the hand is better than the 12 you could have bought with the gold when it was still worth something.
     
  13. Canadian

    Canadian Well-Known Member

    1,512
    0
    If what you're saying is true then nobody would trade any goods for gold in a bad situation. We all know that will never happen. Gold will always have value and no matter how bad things get (unless it is the end of the world) there will be a recovery. That's when gold comes in handy. Gold was valued when our technology was limited to sticks and spears. If we go back to being primitive we'll still want it just like we did a thousand years ago.

    If you're counting on a disaster where nothing ever gets better then you are right. However, we've come back from every disaster and war we've ever had on the planet. Odds are there will be a recovery and when there is those who hold gold will control the economy. What's the point of surviving a big mess just to come out on the other side exactly where you started? I'd rather come out on top. That's where my gold comes in.

    If it really is the end of the world there's no point in preparing since you'll only postpone your inevitable death by a few years at most.

    You're also acting like you can invest in gold or goods but you can't do both at the same time. I'm doing both. It's not a light switch with two positions. You can proportion your money any way you want.
     
  14. dukman

    dukman Greenhorn

    96
    0
    Back to the OPs question. If you are looking into investing in coins... here is a good site with the melt-values of coins based on their silver content.

    Current Melt Value Of Coins - How Much Is Your Coin Worth?

    One place I saw was really talking heavy about holding onto nickles for their silver content... but according to the site above, that is losing $.02 per nickle, or 40% of its face value at this time (but if you come across a WWII era nickle it is worth a lot more than face value). Also check the rest of your pocket change, any pre-64 coin other than the nickle is worth more than its face value.

    You could find a reputable dealer in town to buy scrap coinage from as well.
     
  15. Magus

    Magus Scavenger deluxe

    6,674
    17,679
  16. testhop

    testhop Well-Known Member

    72
    0
    good investment

    when obama took office i ask my stcokbroker where to put my money .
    he said guns,ammo and cangoods
    maybe the old boy wasnt kidding.
     
  17. sailaway

    sailaway Well-Known Member

    1,922
    0
    The Bible says the best investment you can make is in your own business!