ahem.
>>I am thinking of building a strong save (too afficed to move)<<
Is bad typing for “I am thinking of building a strong SAFE (too AFFIXED to move)”
Jeeze, we expect so much from our software friends...
Instead of buying $50K worth of gold, why not buy $5K or $10K, and put the rest into high quality investments?
Gold is best used as a hedge, not as a speculative vehicle.
Before the Great Depression, in Tampa, FL my family had done business with the Exchange Bank for many years. During the worst of the depression run on banks, the Exchange closed for a few days.
When it reopened, my mother’s safety deposit box no longer contained the $20 and $50 gold coins she had saved for her college costs.
Maybe the roaches took them?
Or perhaps bankers turn roach when things get rough?
In any case, I am unconvinced your gold would be there after a crisis - YMMV.
What I do for making big decisions like this is I put up a board with an array of possible investment choices, then I put on a blindfold, spin around a few times, and then throw a dart.
Land in the country might be a good investment
10% in gold, 90% in Syrian War Bonds
Goldbug ping.
is it in ingots or coins. under the floors in the space between the ceiling of your first and second floor. or outside in a hole.
Personally I would buy silver bullion and coins. Gold is way overpriced. In today’s market $50K would buy you about 38 oz. of gold or 2500 oz. of silver.
I’m not trying to be cruel but think what you are asking.
I know you’d be ashamed to stand on the corner and ask for change. But you come on hear and ask people how to invest your money, for nothing.
You are making yourself extremely vulnerable. You are very likely to lose the entire $100,000 with your attitude.
For purchasing, you might consider a mix of gold and silver bullion (not numismatic) coins/rounds.
Realize that you are purchasing "insurance" and not an "investment"!!!
Don’t forget silver..
RL Prepper ping —
I could not figure out how to ask this question on any Prep threads, but Mrs. FD pointed out today that if I don’t take action in the next 2 weeks or so, I’ll be stuck in a stupid, yet safe, investment.
I have convinced her we need the Gold (or precious metals) in our hands but now need a solid plan.
All Preppers and other FReepers advice gratefully accepted. Many will contradict and some will be derisive, but the I really want to hear from those who have done this.
- While silver probably will have greater upside potential, it is very volatile. So, if you're going to buy some silver, I would make it a smaller portion at this point that you are just becoming a new precious metals owner. The wild ride can be like literal bull riding - and the volatility can tear up a person emotionally unless they're used to it and prepared for it, with a good understanding of how the markets work.
- Be very careful in shopping around to minimize premiums that you'll pay. Prices vary widely, even among well known "names." Definitely don't buy from companies like "Goldline" (sorry Glen Beck!).
- Be clear/sure that you are buying for the long run.
Transaction costs in buying gold are moderately high - so you want to be sure up front that this is a long turn buy and hold situation; that you are not a "trader." Don't buy for the short-term and don't expect a quick increase in price. Be prepared for significant pull-backs; they happen. You're anticipating continuing dollar value declines, and over time this is highly likely.
- If you have a large shipment coming - you may want to consider having it shipped directly to the area's UPS "hub" - where they won't have your home address. I never want a driver to show up with a delivery at my house. No thanks to that.
Good luck! And, ignore those who don't understand precious metals. They were saying the same negative things 12 years ago when gold was selling for $250/troy oz and silver was trading between $4 and $5. At the same time, don't believe all of the hype of the crazies who assert that you're going to get rich. Highly, highly unlikely - but you will have something of value when others eventually get stuck with depreciating currency.
My 2 cents worth, anyway.
Here’s a good round-up of the prices of the major players:
http://www.comparegoldprices.com
http://www.comparesilverprices.com
I’ve bought from Blanchard with no problems whatsoever. Personally, I like buying coins. I think Krugerrands have an ounce of gold but more non-gold stuff than other one-ounce coins, which makes them a little harder.
I would rather have land and the rights to the water under it.
Store it how you want, but keep it out of safety deposit boxes. I like surplus ammo boxes.
The powers that be have intentionally f*cked up the dollar and it will continue it's death spiral until it's worth nothing.
Not too wise too announce on the Internet that you will soon be storing $50Kin your home safe.
I’d invest in land with mineral rights intact... as long as there are moms driving SUVs taking their daughters to gymnastics or dance, there will be a demand for oil... and trust me, the world can be in crisis and there will still be women driving daughters to gymnastics class.