Posted on 03/19/2013 4:13:06 PM PDT by freedumb2003
I really want advice from FReepers who have invested in Gold and other precious metals.
The Cyprus thing got me nervous. The idea that a country could say "we will immediately do a Wealth Tax" was out of my realm of thinking.
But the fact this happened with the OK of the IMF (of which the USA is the largest influence) is what scares me.
Now Brussels in on that same road of pure State theft.
And let's face it, any country stupid enough to tax people for existing (aka obamacare) will be arrogant enough to levy an overnight "wealth tax."
Kartographer, I owe you an apology. I don't see an apocalyptic "Mad Max" SHTF future. But for the first time I see that the institutions and so-called "rules of law" are of little meaning.
I think my qualifications as an honest and thoughtful FReeper are here.
I need to secure about $250K (please, no post office boxes nor Nigerian Lawyer addresses).
How best to buy real gold? And ensure its real delivery?
(Excerpt) Read more at telegraph.co.uk ...
Hey Hey the other side produces! The produce porn, crack, meth, bad music, crime, preform abortions..... It’s a tough job, but someone has to do it!
Hey Hey the other side produces! The produce porn, crack, meth, bad music, crime, preform abortions..... It’s a tough job, but someone has to do it!
Go to my profile. There is an article there I wrote that contains all my knowledge and opinions.
>>Hey Hey the other side produces! The produce porn, crack, meth, bad music, crime, preform abortions..... It’s a tough job, but someone has to do it!<<
When I was 14 I was Black for whole year. The chicks dug it so I guess it paid off...
Purple big colla’s puffed-sleeve shirts, Angels’s Flight tight pocket big bells, Big ‘ol Superfly hat, EWF platforms — what wasn’t to love, baby?
But that crack whack wan’t jack, ya’know Slack?
>>Hey Hey the other side produces! The produce porn, crack, meth, bad music, crime, preform abortions..... It’s a tough job, but someone has to do it!<<
When I was 14 I was Black for whole year. The chicks dug it so I guess it paid off...
Purple big colla’s puffed-sleeve shirts, Angels’s Flight tight pocket big bells, Big ‘ol Superfly hat, EWF platforms — what wasn’t to love, baby?
But that crack whack wan’t jack, ya’know Slack?
>>Go to my profile. There is an article there I wrote that contains all my knowledge and opinions.<<
OK Jack Black — you ain’t whack so I cut you some slack whilst I smack yo’ dack....
(OK, I don’t know what that means, either...)
http://inflation.us/reviews/
Thanks, Duke...
And I'm sure there must always be a little spread between buy and sell values just so the sellers can get their share (which they also earn).
Rare and high mint-state coins will retain value and could be a good store of wealth or even source of profit when things are more normal.
Keep in mind that a perfect coin which relies on condition is still relatively fragile--one scratch, and it isn't MS70 any more, and a significant portion of the value can be lost.
A battered bullion grade coin is still what it is: an ounce (or fraction or multiple) of precious metal, rated for purity by the mint which struck the coin.
If you aren't sure which way to go, split the difference and buy some trading stock: "junk silver"--circulated 90% silver coins which average about .72 ounces per dollar of face value--are already monetized, ten dimes=4 quarters=2 halves=1 (silver) dollar. Ready made small units for trade (a dime is roughly .07 ounces of silver).
Then buy some rare coins keeping in mind that the value of those rare coins is driven by two factors:
First, bullion value: an ounce is an ounce.
Second: Rarity and collector demand. Being rare is not enough, there must be a demand for the coin. Fractional Proof Platinum Eagles were minted in horribly low numbers (fewer than 15,000/issue), which makes them plenty rare enough, but without collector demand, the price will never take off--just as one example. Think about how much collector demand will be out there in a SHTF situation, and consider that far more people are familliar with the face of even a worn Morgan Dollar than will recognize a $25 platinum 1/4 ounce coin. As such, the latter may prove worthless if the person you are trading with won't take it.
That was only part of the equation. Prior to the confiscation, gold was valued at $20/ounce. Afterward, the peg was moved to $35. Anyone holding paper money who had been compensated at the old rate lost 42% of their wealth over night.
IIRC, the Polar Bear coins are Canadian, not U.S.
bookmark
Pretty good post
But I think it's important to keep it going......
If the crap really hits the fan...
and I have chickens and eggs...
and you come to me with a gold coin...
and want to buy a chicken or some eggs...
what am I going to do with your gold coin???
It is worthless to me.
Good points—all reasons I have stayed away from gold.
The money is far better invested in duplicates of critical non perishable tools and home infrastructure you know you will need.
Shortages of just about anything are as big a long term risk as the financial risk.
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