Who Has Been Eyeing Precious Metals?

Discussion in 'Money, Investing & Precious Metals' started by IrritatedWithUS, Jan 17, 2011.

  1. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    Does anyone trade in metals for cash or for savings? I am astounded in the upwards rise of precious metal prices from 2010 and into the 17th day of the New Year.

    Gold was roughly $1,150 per ounce in the start of January 2010. Today, gold is worth $1,351 and 50 cents per ounce. That’s a pretty decent climb in one year of $201.50+ per ounce.

    I have been investing in gold and sitting on it. However, I have been buying gold in grams lately for $39-$42 on eBay (usually free shipping) and stockpiling those. Today, a gram of gold is worth $43.77 so I am slowly making a profit on them.

    Now I am extremely interested in silver. Today, silver was $28.38 an ounce. Just in January of 2009, silver was $11.00 an ounce. January 2010 it was $15.00+. In a year’s time it had gained only $4.00 per ounce. I find it fascinating that from 2010 to today, silver has gained $13.00+! It has almost tripled in price per ounce in 2 years.

    I’m interested in knowing if people buy in gold and silver and what is their plan to do with them? I am sitting on mine until the time is right and watching how things go.
     
  2. BasecampUSA

    BasecampUSA Sr. Homesteader

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    Hi IWUS,

    Just after the "big slide" started, I decided that paper money (in the bank) was making THEM rich, not me. (I hate banks anyway, they screw you coming and going.)

    I didn't have a mortgage, I built my solar house (link at bottom) from lumber and timber from the homestead's woodlot myself.

    So I took half of my life's savings and bought $80K of silver at $10.75 an ounce 2 years ago. I should have put it all in silver.

    I just inherited a stash of gold my father had since the early 70's... - he brought it back when he worked as a consulting engineer in Peru South America. Gold wasn't legal to own yet at that time, and he brought a little bit home each trip back to States. All together there's 16 ingots at about 5 oz./ea., I think he paid less than $40/oz back then. They are ingots (not .999 fine bullion gold), and he had them assayed at .995, so if I wanted to cash them in now, I could get almost as much as .999 gold... (over $100K)

    One thing for sure, if you don't have your 2 year food supply for the whole family, DON'T buy precious metals. You can't eat silver and gold, and the black market prices will then literally wipe out your precious metals stash in a heartbeat after TSHTF

    We will definitely "sit" on these precious metals till after TSHTF, then we'll see how the trade/barter system develops. If the Gummint decides to outlaw gold again (and silver?), there a lot of jeep trails into Canada from here and we'll help out the Cannucks, eh? ...I've got kin up there. ;)
     

  3. thunderdan19

    thunderdan19 Shoots to Thrill

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    Yeah, a little. Mostly copper coated lead and steel. :D
     
  4. BasecampUSA

    BasecampUSA Sr. Homesteader

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    Heh... took me a minute, thought you were talking about scrap...


    Uh-huh! THIS kind:

    [​IMG]

    Mee toooo!! :D
     
    Last edited: Jan 18, 2011
  5. HighTech

    HighTech Member

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    I like your statement about "you can't eat gold" that is very true and you would trade a solid gold bar for medicine if it saved your kids life right? I find it interesting how we still get excited about how much money it is worth, it is worth a lot because money is worthless. I like your arsenal seems a little short range for me you might look into that, but nice picture. I am an underground nut and believe if they can not see your place they won't be tempted. I watch many things around the world and sometime am in loops other are not. I think this time there is no doubts it is going to hit the fan soon, real soon. Good luck.
     
  6. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    I couldn't agree more with that!

    I enjoyed your post!
     
  7. Woody

    Woody Woodchuck

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    I have many US silver dollars along with a collection of US silver coins, some pound and half pound silver ingots and a few gold double eagles. If silver hits $50 an ounce I plan on dumping at least the ingots and buying supplies with the cash. Maybe not ALL but enough to get what I feel I am lacking now.

    I’d feel better with a backup axe and bow saw than with a hunk of shiny metal. Sure, they might be worth a whole lot more when things settle down but I have to survive to get to that point. I’m not well off enough to worry about saving my wealth; I’m just poor enough to worry about being warm and fed.
     
  8. BasecampUSA

    BasecampUSA Sr. Homesteader

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    NO no no -don't dump them :D... IF you have silver now, keep it! You may need it much later in the WTSHTF game to come. ;)
    ...just stock up on as much food as you can. Study long-term bulk food storage here, it goes a longgg way.

    But don't squander a lot of money on guns and ammo, that's what's gonna kill most "survivalists". They will starve looking at thier fancy arsenal, then they will start robbing and looting, and eventually resort to cannibalism on their fellow's corpses that we "prepared" people have shot defending our stash. :rolleyes:

    If you do not have silver now, get your supplies first before you buy some.

    - Basey
     
    Last edited: Jan 19, 2011
  9. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    Has anyone noticed the price of nickel went from $10.82 at the end of December 2010 to $12.00 a pound in mid January and is now $11.93? It has continued to rise every year since 2007 except for today... Is it something to think about?
     
  10. UncleJoe

    UncleJoe Well-Known Member

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    Yep. If you haven't already, start saving your nickels.

    http://www.preparedsociety.com/forum/f4/you-saving-your-nickels-2511/
     
  11. Ponce

    Ponce Well-Known Member

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    In 1972 I bought $18,000 of siver for $2.45+.50 per oz.........in 1980 I sold it for $43.65 per oz and made around $738,000.

    Started buying once again in 1982-2002 when I decided that I had all that I needed.........there is need and then there is greed......this time around my average per oz is of $5.16 so that I more than quadrupled my money
    ...but ...if I were to sell now what would I do with the fiat?
     
  12. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    That's an amazing story! Awesome, indeed. I've heard stories about silver in 1980's. My great uncle did the same thing and became extremely wealthy. A few years ago he was diagnosed with cancer and committed suicide. He left me a safe box of goodies with notes of advice and I am following it ;)
     
  13. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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  14. LegitCitizen

    LegitCitizen Active Member

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    From time to time, I buy junk silver - mostly dimes. I found a good coin guy here in my town who cuts me a break on the price because he knows why I'm buying. I wish you could've seen the smile that crossed his face when he asked what he could show me and I replied, "Junk silver, especially dimes."

    And it's not like I buy a lot of silver, but if I have a few extra dollars at the end of a pay period, I pick up a few - if I've already picked up a little food and supplies to put into the prepping rotation. Food first.

    I buy mostly dimes because: they're small; they're small amounts of silver; they're affordable. If precious metals return to fore as currency, making change for ounce and Troy ounce coins is going to be a PAIN. So, I chose dimes.
     
  15. wallstwench

    wallstwench Active Member

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    Silver thoughts….

    I’ve been telling everyone I know to buy silver for many months now. If you haven’t seen these wonderful videos, please check them out. It’s sad that it takes a cartoon to get through to people, but it really has been my way in to open many people’s minds as to what is really going on.

    [ame=http://www.youtube.com/watch?v=Gl47z2g2EvI]YouTube - Part 1- JP Morgan Silver Manipulation Explained[/ame]

    [ame=http://www.youtube.com/watch?v=uPg4qTNTP-E]YouTube - Part 2-JP Morgan Silver Manipulation Explained[/ame]

    [ame=http://www.youtube.com/watch?v=AId_UiPtPpQ]YouTube - Part 3 - Silver Manipulation Explained[/ame]

    I want to start throwing silver parties, the same way everyone was having gold parties a year ago. When I found out that the Fed was behind the “Cash For Gold” craze last year, that’s when I decided I wanted to be on whatever side the Fed was on. Anyone want to help?
     
  16. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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    That has to be one of the cutest and informative videos ever.
    I had to get used to the computer generated voices, however.

    I am still stockpiling silver slowly but surely.
     
  17. vn6869

    vn6869 Afraid, very afraid

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    Anyone going with any other alternatives the Gold and Silver - platinium, diamonds, other gems?

    Just curious.
     
  18. IrritatedWithUS

    IrritatedWithUS Well-Known Member

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  19. BasecampUSA

    BasecampUSA Sr. Homesteader

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    You must have been in on one of the Hunt Brother's scams ! :D

    What happened is that the Hunt brothers (Texas oil tycoons) got the idea that silver was a very under valued commodity, and by purchasing huge futures on the margin (ie borrowing money against future value) they could send silver in a self perpetuating upward spiral, and eventually control the entire market. They very nearly succeeded. What they did not count on, was that as the price of silver spiraled upward as anticipated, hundreds of millions of ounces of silver came out of hiding, silver coins, ingots, jewelry, flatware, stashed for decades and cashed in on the high price. As the resultant glut moved the price downward, the brothers continued to try to hold the price up by making further margin purchases, hoping to weather the storm, and prevail with their plan. Despite the effort, the price slid, the loans were called in, and the price of silver collapsed.

    Hmmm... wonder if that would ever happen again :eek:
     
  20. BasecampUSA

    BasecampUSA Sr. Homesteader

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    There's no more "nickel" in pre 64 nickels than any other. (?!)

    No more reason to hoard pre-1964 Nickels than any others. Since 1938, the Jefferson nickel has comprised of 75% copper and 25% nickel alloy.

    There are a few years, 1942-1945 where wartime composition was comprised of 56% copper, 35% silver and 9% manganese.

    When silver hit an all time high, these nickels are worth the % silver bullion value in them, but due to the cost of smelting and refining the silver out of the alloy, it quickly becomes a break even proposition

    But, a very few nickels are worth much more for numismatic collectors, -not many.

    All pre-64 dimes, quarters, half dollars and dollar coins are worth hanging onto, they are worth about 30 times thier face value right now. BUT, check all your coins out in this book for added value:
    "Cherry Pickers Guide":
    Whitman : Coin Prices : United States Coins Collecting Supplies