Buying Silver

I have decided to put my survival in silver but I don't know where to start. Should I buy coins or jewlery? I live in South East Asia and expect to be here indefinitely so at this stage I don't need to think about travelling with it. I can 'safe' it at home.

Any other tips or advice is very welcome as this is the first time I have seriously thought about buying metals etc as as investment/economic survival tool. BTW, I am (at the beginning anyway) a small investor. I was planning on just buying $100 dollars worth every month.

[edit on 19-8-2007 by deessell]

Buying to add to your survival kit so you can use it to buy services and food from other people or as some kind of investment?

The issue for me in having metals or stones as part of your survival kit is, will they have a value and does carrying them enable you to get more than you can carry ourself.

And once someone is aware you are carrying silver, do you become more of a target.

And start thinking about how you hide them and that silver does have a weight. Can you afford to carry silver.

As an investment, I think metal prices will continue to peak and you are buying near the top of the cycle and at some stage, there will be a price adjustment.

Thanks but maybe I didn't make myself clear in my OP. I am probably not imagining a 'survival' situation where I am on the move. I was meaning more survival in a financial sense. So instead of leaving my surplus money in a piece of paper, which is constantly dropping, I was thinking of buying some silver jewlery.

I'm aware that silver has been strong for the last few years and will probably drop but it will always be worth something. It is better than money.

Gold and Silver are just coming to the end of another correction, so expect the prices to rise some this coming weeksmaybe. Precious metals are always a good investment no matter the current market trends anyway. Always a good solid alternative to the cash markets. Prices are still good right now, and although it is always better to buy in bigger quantities; you get a little better deal, it is a still a good idea to spend a little bit here and there and pick up whatever you can afford. Some metal investment is better than none, for sure. Maybe get a variety of quantities in both metals. You can get 1/10 ounces of gold for about 90 dollars right now. 1 ounce silver eagles are about $14.35 per coin, that is always a good buy for your ideas of future currencies. Also, another good idea is go to all the garage sales in the area, you never know when someone is getting rid of their parent's old crappy pure silverware for 30 dollars for the set. Just because the silver isn't in coin form, doesn't mean it isn't worth 13 bucks an ounce or more...

Originally posted by IronDogg
Gold and Silver are just coming to the end of another correction, so expect the prices to rise some this coming weeksmaybe. Precious metals are always a good investment no matter the current market trends anyway. Always a good solid alternative to the cash markets. Prices are still good right now, and although it is always better to buy in bigger quantities; you get a little better deal, it is a still a good idea to spend a little bit here and there and pick up whatever you can afford. Some metal investment is better than none, for sure. Maybe get a variety of quantities in both metals. You can get 1/10 ounces of gold for about 90 dollars right now. 1 ounce silver eagles are about $14.35 per coin, that is always a good buy for your ideas of future currencies. Also, another good idea is go to all the garage sales in the area, you never know when someone is getting rid of their parent's old crappy pure silverware for 30 dollars for the set. Just because the silver isn't in coin form, doesn't mean it isn't worth 13 bucks an ounce or more...

Excellent! Thanks, that's just the kind of advice I was looking for. Alas, there are no garage sales on my island in Paradise.

When it comes to buying actual precious metals for survival... the weight comes to mind first. You might as well carry gold since you will get more value for the weight. The thing is there is kind of a paradox when it comes to metals and survival. Where do you plan on cashing it in, or who will want gold when all they really want is some food to eat? In a complete breakdown of society, gold will be just as worthless as paper money in my opinion. Any time you will have the ability to use gold, money will still be available to use. Say in smaller situations like Hurricane Katrina... all you have to do is go over a few cities and all your money is still available an ATM in another city, even though your bank has been levelled.

Investing in gold/silver/oil companies, or better yet, indexes which include hundreds of different companies are a much better way to invest in gold and silver. I'm planning on buying some of that more "intangible" gold this week now that prices have dropped so far.

If you still want to buy real metals, I would go with either coins or more preferrably bars/ingots. Don't buy the overpriced "collectors item" type stuff, just get as close to the actual price as you can. 99.9% pure gold is still gold, no matter what silly design they stamp on it. Obviously the dealer is going to put a markup on it either way. You are also probably better off buying larger sums at once ($5,000 or so... I wouldn't go below $1,000 at a time), rather than $100 per month when prices are low. You might get a discount on buying in quantities as well. I've never bought gold or silver, so I don't know if they put a transaction fee/commission on it as well. If you have to pay an extra $25 every time you buy, you'll really start to get hammered.

In short, when it comes to "investing" for survival, the only way to do that is with non-perishable food and ammunition.


[edit on 8/19/2007 by Yarcofin]

I think a well rounded approach is best. I agree with Yarcofin that food and ammo stores should be first. Only after you feel comfortable with those should you pursue metals.

Once you do decide to buy them, get your hands on the stuff. You know the old adage 'A bird in the hand is worth TWO in the bush'. Your metals in someone elses vault after a sit x aren't yours anymore. And I disagree with Yarcofin slightly on the denomination thing. Sure, smaller quantities come with penalties, but I wouldn't want to have to take my axe to a gold bar. Just personal preference on that one.

Back to the well rounded thing. A potential sit x could be a 'super depression'. Which, in the 30's was one thing. We have become far too reliant on others for basic necessities to weather one now. Financial collapse will bring all kinda bad with it. But in that scenario metals will be King. But again, Ammo & Food store first! And if guns and ammo are a problem in your country, you may be screwed. Better study martial arts or something!

I agree with what Yarcofin just said, gold only has a value today becuase people pay money for it.

If you are worried about a financial 'survival' situation you might get some insurance by buying gold, so log as the problem doesn't affect the whole world.

What you want is large numbers of items people need for day to day life, which you can then trade for goods or services. Think along the lines of tools, batteries and maybe even clothes. If TSHTF it will be back to bartering and trading your potatoes for their ammo. You get the idea.

Yes, definately have your precious metals or gems in your house or a similar safe location, not in a safety deposit box where you may or may not be able to get to it in times of need.

You will obviously then need a safe to store it in. You want a fireproof, waterproof, explosionproof safe that will be very heavy and difficult for someone to pick up and steal the entire safe if they broke into your house. If you just have a smaller sized safe, someone can just grab the entire thing if they wanted to. And even with such security measures, you will still want to keep it relatively hidden.

Alternatively if you have plenty of cash to spare, you could make yourself a "safe room" with thick steel walls and one heck of a door, to store all of your survival and precious items in... that's getting a bit extreme though.

[edit on 8/19/2007 by Yarcofin]

I have done a lot of thought on this for years. I have some gold, diamonds,etc, that will carry me over if need be, but think how many other people do as well. If it really hits the fan, people will be trading in all thier gold , silver, etc for food, medicine, and amo. So thats what I store up. I am allergic to antibiotics, but keep every perscrition, I have a drawer full of medication I will never throw away, because that could be my food ticket in the future. I also keep enought non perashible food to last a year, and always have 15 , 10 gallon water bottles on hand. Of course I use the water, but always keep that much handy. Same with the food, I cycle it out . Hopefully I never have to use it, but its m y assurance knowing it is here. I keep all my old heart mediction, and keep a lot of antihistamines on store. Cant hurt.

If you`re anywhere near Thailand, I`d suggest scouting for deals on sapphires - cut or raw. They can be had relatively cheaply, are portable, and can be re-sold to jewelers or gemstone dealers pretty easily. Check out prettyrock.com - they have a lot of guidebooks and tools available to test the quality of stones - to make sure you`re not getting ripped off.

An old acquaintance of mine used to make 2 trips a year to Thailand for just that reason. Well, that and scuba diving.

Originally posted by vox2442
If you`re anywhere near Thailand, I`d suggest scouting for deals on sapphires - cut or raw. They can be had relatively cheaply, are portable, and can be re-sold to jewelers or gemstone dealers pretty easily. Check out prettyrock.com - they have a lot of guidebooks and tools available to test the quality of stones - to make sure you`re not getting ripped off.

An old acquaintance of mine used to make 2 trips a year to Thailand for just that reason. Well, that and scuba diving.

Actually, I was living in Thailand at the time of writing. I'm now in Vietnam but are thinking about the gems you mentioned. How easy it to travel by plane with them, in relations to customs etc? Do they have to be declared etc? Would I be considered suspicious? The same questions for gold/silver I guess. That was why I was originally considering jewelery, as it is less suspicious. I only ask, as I am an expat and move countries a lot.

Any other thoughts?

If you buy sterling silver, silverware, it looks like you just have some family heirlooms, and doesn't look like you are up to any type of suspicious activity. You pay more for it than strait silver bars or junk coins, but it retains that value. You can just buy a fork here and a spoon there, and eventually you and your family can dine in style, while having a hedge against falling paper currency.