Posted on 05/22/2023 3:10:02 PM PDT by fightin kentuckian
Thinking of buying precious metals for SHTF (economic collapse)scenario. In a SHTF scenario would one ounce of silver be worth more or less if it were an American Silver Eagle (coin), a one ounce silver round, or a one ounce silver bar? Same goes for gold.
Also, in an American SHTF scenario , would a silver coin minted in Canada or Australia be worth more or less provided their economies had not collapsed.
As far as I know the US mint only mints Silver Eagles and Gold Eagles. Why are some other rounds called coins. I understand that in order to be called a coin it must be minted by a government. Is that a fact?
non-numismatic collectible,
average circulation,
silver coins,
in bulk
Maybe you should consider getting a ton more lead. If your neighbors find out you have gold and no lead, you will end up with no gold and possibly worse
Brass and lead will be the only precious metals for a while. And things you can barter with will be more valuable than gold.
What is average circulation. I’m under the impression that coins are either circulated or non-circulated.
And non-numismatic collectable is contradictory isn’t it? Gold and Silver Coins, minted by governments, have numismatic value. Correct?
Have a nice long talk with yourself
as to if you do buy them,
what do you think you are going to do with them???
-
...pass them to your descendants???
...barter with them???
...sell them later for more than you paid for them???
-
...don’t forget the buying “premium”...
...and the selling “premium”...
Coins are minted by a gvmt and have a face value
Rounds are round also but are made by private mints
Bars are like rounds except not round
Thanks. I have lots of lead and brass and looking to add more. BTW funny how the media will call 1000 rounds of .22 an arsenal. haha
“non-numismatic collectable”
...what I mean is not the rare certified collectible coins...
...just regular old average circulated coins...
“...coins are either circulated or non-circulated...”
-
There are various grades of circulated coins...
If you’re just looking to stock up on silver, I’d recommend staying away from Silver Eagles. The premium on those hover around $15-19 over the spot price of silver.
If you’re looking to buy a lot of silver, the larger bars are the best bang for your buck. Lower premiums the more troy ounces in the bar.
In a SHTF situation, coin grade means nothing. Everything as far as PMs are concerned is valued at spot or worse. No premium for grade.
“what do you think you are going to do with them???
...pass them to your descendants???
...barter with them???
...sell them later for more than you paid for them???”
Great question. Has anyone on this board ever used precious metals in a SHTF scenario?
Does anyone know if precious metals were used in places like Venezuela or other SHTF countries?
If you can’t defend it, you don’t own it.
Yes, that is a fact. Only government issued metal discs denominated in the native currency of that government should be called coins. Metal disks not issued by a government are called rounds.Rounds and bars are also called “generic(s).
As to which flavor one should accumulate should you wish to gather up silver, I think silver bugs should buy 5 or 10 or a dozen or 20 silver eagles because they are beautiful coins and everyone should have some. As to whether you should buy only Eagles, That is not what I have done.
The reason being, they are simply a lot more expensive. For most people, once they get the novelty of buying silvbro out of their system, most people gravitate to generics, whether one ounce Or 10 oz Bars.
The reason I like this approach is, in the scenario you bring up, suppose you. Want? To buy a car, and the seller wants 400 oz of silver. Would you rather pay him in generics, or in the more expensive silver eagles? That is an obvious question. From that viewpoint, having generics actually protects the value of your silver eagle.
Right now, the premiums on silver are very high, indicating a lot of newbies are getting into this market.
Coins because they are readily identifiable.
I guess it depends on how you intend to use them, and what the exchange rate for those goods would be. Smaller “denomination” would be best if you need to buy food with them, assuming people would part with food at any price. Though with the right tools you could be like an 1849er and slice pieces off of silver and gold bars and weigh them out. Going back 1000s of years, from Rome to the Ottomans, people were known to shave a little off their coins too :-) So you could scam a few people who don’t have the old fashioned balance scale.
Others probably mentioned, however, you will have to be careful about where they are stashed and be prepared to defend them. In a less than total SHTF scenario, think about the old west or any of those zombie shows. You’ll have to find and protect your metals, barter for them, and be prepared to shoot someone in the saloon. You’ll need to be able to hunt for food and maybe team up with trusted compatriots to ward off other tribes.
I think he means don’t buy the coins for their premium, but rather for their metal content. People pay fat premiums over the value of the metal to get coins with little to no circulation (little to no scratches and dents etc). Those are only good for collectors not for people who just want the metal.
correctomundo
If you had some chickens
and I wanted a chicken
would you trade me a chicken for a morgan dollar?
what are you going to do with the morgan dollar?
trade it to someone else for chicken feed?
If you had some ammunition
and I wanted some ammunition
will you trade me some ammunition for a morgan dollar?
what are you going to do with the morgan dollar?
There was one time my wife and fell on hard times and had to file bankruptcy.
I had to sell all my silver-coins, rounds, even solid silver silverware that was left to me. I still get sick thinking about it, but they DID appreciate in value considerably.
When times got better, I was able to start building up our collection again.
My plan is to leave it to my children, but if I ever need the cash again, it will be there for that.
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