Precious Metals: How many....

I know there has been much discussion involving gold, silver, and other similar investments on ATS..

My Question Is Simple: How many of you have recently (21st century) invested in Platinum, Gold, Silver, or other precious metals as a direct result of the shaky economic times or some 'end times' conspiracy (i.e. 2012)?

I guess this is kind of a poll.. but I'd also be curious as to what you invested in and what caused you to make the decision?

-Thanks

reply to post by Scramjet76


I have invested zero so far.

BUT

My brother and I, as of a week ago, started constructing a backyard setup for melting and smelting. We fully plan on getting our hands on various metals and smelting them and then just stockpiling them. We are still in the planning stages in many respects but we are doing it for sure

Also there are two different scenarios we are thinking of:

1) A great depression.

2) Post-apoc setting.

One has to consider that the actual inherent value of the metal will be the primary factor in a apoc setting. For instance, a lab created diamond will probably be just as valuable as an authentic one, as it's industrial use is identical.

So I am taking into account both scenarios when I think about what metals to focus on.

Invested no. i mined my own gold.

Its a lot more fun and the government does not know how much i have.
that is good because i am now on disability and any money above my disability check they subtract from my check.

the SSI/SSD system is rigged they want you broke and keep you that way.

reply to post by Scramjet76


I thought about it. Did some research. I think I will be investing in Palladium, it's affordable and has very good prospects. Some analysts even believe it will be worth more than Platinum in the near future.

reply to post by Lucid Lunacy

Also there are two different scenarios we are thinking of:

1) A great depression.

2) Post-apoc setting.

That's true!

...Something for folks to take into account when dropping their 2 cents into the hat. Thanks for all your responses so far ATSers.

Stockpile aluminum foil and make lots of cool hats. LOL
Buy gold it looks nice, buy platinum it looks nicer than gold.
Stocks are for the megarich who can afford to loose it all, its a fools game of big winnings to the megarich and everyone else is an instant loser.
I have invested in myself and learning about ufos and technology and trying to figure out how many lies I have been told thruought my life.
I am american born and ashamed of my country for putting up with such obvious lies, and bewildered at the sheeple being led to the slaughterhouse, but what can I do about it...the bankers control everything, we are doomed, they have thrown us under the bus, and now they are stealing our lunch money.
Someone tell me why cant we impeach bush again? I mean what else can he do except increase the deficit make another unwinable war with a false enemy and makes us pay for it.

I have bought tons of silver and a little gold. But i dumped it all back in july when silver was about $20 an ounce. Im about to jump back in here soon and but hoards of silver.

i do buy silver because

(1) its a good investment. Silver has ALOT of upside
(2) It will hold its value in the case our economy does crash
(3) Its easily traded in a barter economy as opposed to gold which you would have to carry a small scale and a metal file around in order to pay for some beans rather than just a 1 ounce silver coin.
(4) It wont be confiscated f there is a call for gold.
(5) Its just cool to have a giant box full of silver coins, like a PIRATE.

So in part i do buy it for other reason than because of the economic collapse as i do well trading it in its ups and downs, but it does make good and cheap economic collapse insurance.

I'd rather buy gold, even if you were to buy really small coins it is still better than silver, palladium and platinum. Even though the latter 2 are more valuable than gold (or will be) they still look like silver and if the world's economy does go t*t's up then you know you'll have more barter power with gold, If its shiny and yellow and looks like gold its more likely to be accepted.
Try to have the assets though as if you buy gold on the internet in 'share's' then you don't actually own any, Buy the actual heavy metal and have it in your hand.
And if the unlikely event of the economy being 'reset' to zero you'll have enough to start over again with,( what do you think all the rich folk and the NWO are investing in?) or if the currencies of the world being dumped and a new single currency for all being introduced Gold will still be worth something.
I myself am buyng small amounts every month , that way in either the 2 events as mentioned before , if they don't happen I'll still have some small investments for the kids ( if I have any).

Start small and try to buy a good few 1 gram mini bullion bars (about £16 / $32), they'll be good for small change , and the bigger bars all the way upto Kilo size (current value around £12000/$43000) will be enough , there's no point buying the full size 13Kilo bars, theyre too heavy to carry longterm (Believe me I know , I worked with the stuff for 8 years)( still hold the record at work of carrying 8 fullsize bars - for about 4 steps before dropping them :lol. I know someone who's bought a kilo of small 1 grams , and they look pretty in a bag. More piratty than silver AHAHAAARGH!!!.....

IMHO, the precious metal I would have, and it would serve a dual purpose of exchange and survival, would be a combination of lead, brass, and a black sulfur compound......

reply to post by ghostlandseller


hey seller,

This is what I was mulling over last night. Should I invest in silver? My 457 investment plan hasn't been going well in the last year, I just bought a condo (so I have a little property/land), and gold is very expensive for me (to invest in more than a couple of oz).

Here are some other reasons to invest in silver. Although this was written over a year ago, I believe there is still truth to what the author writes. In July of 2007 silver was $13/oz and it has now dropped below $11/oz..... I think it's a bargain.

reply to post by DataWraith

Even though the latter 2 are more valuable than gold (or will be) they still look like silver and if the world's economy does go t*t's up then you know you'll have more barter power with gold, If its shiny and yellow and looks like gold its more likely to be accepted.

Hey wraith that's a good point! If I take the plunge into precious metals, I may buy a small amount of gold just to "anchor" my pirate's stash of silver.

reply to post by Scramjet76


Yes, I have invested in some silver. But, I am a little worried about it because the spot price is being held down and that scares me. It is selling on ebay for almost double spot price in some cases. There must be alot of SHTF people out there and I guess I am one of them because I don't mind paying over spot.

Think of it this way. A silver dime is worth about a dollar, so less that 4 dimes buys a gallon of gas.....seems like old times when gas was .40 a gallon.

reply to post by zippy1958

It is selling on ebay for almost double spot price in some cases.

Hey zippy,
Just curious if you considered buying from some place local (as opposed to internet/ebay)? Are the best deals on ebay and they are still double spot price?

reply to post by Scramjet76


I buy mine locally. I have bought a few from ebay just because I liked what they were selling, but I can get it cheaper locally. The problem with that though is sometimes I can't find any. People are starting to sell their old collections of coins though for cash to pay bills....very sad in my opinion. They need to hang on to it if they possibly can.

I made sure to stock up on food and supplies before I bought silver. The silver is for the future...if there is one.

I am not sure that silver will hold up though. One thing that makes it so strong is that it is so versatile...it is used in so many electronics so it should at the very least hold its value in a good market, but I have a feeling that people will stop buying so many electronics soon and there will be a smaller demand for silver....so the price goes down.

Check out the silver forums...they know way more than I do. I just got into it....just learning myself.

Hey thanks to everyone who has taken the ATS precious metal poll so far!

reply to post by zippy1958


After calling around (here in Seattle) it seems the locals are dry on silver (especially the popular 10 oz bars). I talked to one guy who said it's possible he'll get some in the next weeks but that I would be looking at $3-4 over spot.

I checkout out some silver forums and heard some good things about bulliondirect.com. They are offering 10 oz. bars at $3.50 over spot. Maybe not such a bad price considering how low silver has fallen and what the local dealers are telling me...

I'm in!

Just purchased five 10 oz. bars of silver on bulliondirect.com. Am I paranoid? Do I actually believe in end times conspiracies?

So in part i do buy it for other reason than because of the economic collapse as i do well trading it in its ups and downs, but it does make good and cheap economic collapse insurance.

I guess ghostlandseller said it best.

Another good place to buy gold and silver from is from the pawn brokers / scrap dealers, hock shops. they buy gold for scrap value and sell it on for a litle bit extra. I'd also recommend metals as opposed to gems in general. A little story follows based on my persoanal experience...

I was working in a London based Pawn shop buying gold, we paid scrap value , anyway a woman came in , young , attractive and broke, She said she was going through a divorce and wanted to sell her diamond wedding ring, the stone was very large, I'm a son of a qualified diamond grader, and I had picked up a few hints on stones , the diamond was worth about £5000 back then (1988) a lot of money, I told her that we can't accept the stone but could offer £100 for the ring . She was shocked and to tell the truth it broke my heart to tell her that but it was company policy , she left , and I left that company a couple of weeks later.

The moral is this Buy Gold and silver (metals) , but I'd recommend gold , Like I said its shiny and if it looks like gold it's more likely to be accepted in barter, only the real nerdy , money grabbing people will actually carry around equipment to tell the different carat golds or be able to tell a diamond from a cubic zirconia, I carry a watchmakers magnifying glass to tell forged notes from real ones, (buts its part of my job in a bank to know real from fake) , I can normally tell by touch though.
So go to the scrap dealers and online auction houses (no point ebay as most people go there first) and if you have to buy broken chains and bent rings , it doesn't matter it will still be accepted but if you can melt it down ,do so , if it looks shiny its tradeable. but dont try to trade it over the counter anytime soon as it won't have a hallmark. in the aftermath of armegeddon if whatever form it takes melt the gold down after the event , most hard up people won't be looking for hallmarks then.

reply to post by DataWraith


Thanks for the words of wisdom. I totally agree in a "worst case scenario" that metals can be melted down and a fancy eagle or whatever won't matter so much.

I would like to invest in both gold and silver. Given my economic status, it's difficult to invest in much gold, but I plan on looking more locally for gold and silver in smaller amounts.. I wanted to get my hand in the cookie jar (so to speak) and the 10 oz. silver bars were available for $3.50 over spot (as opposed to $5 over spot for coins when shopping online).

Although the price continues to drop on silver I am not worried.

In addition, there is a compelling argument for silver investing because the economic and monetary fundamentals in place today are even more bullish than the conditions of the 1970s when the silver price exceeded $50 per ounce. Yet today's market prices, at below the $20 level, are a mere fraction of levels projected by silver industry experts for the future.

monex.com

Hey Scramjet, Congrats on your purchase.

Please don't forget about buying silver coins. If the SHTF, you will be glad you did. Most people will not be able to make change for the 10 ounce bar. I like the ten ounce bars too and have a couple, but most of my stuff is 90% silver coins.

Enjoy your new investment...but be careful...it is very addicting. If you are like me, that is all you will want to spend your money on. Also, hang on to it if you can...it should skyrocket in a few months. Don't panic if it falls some more....it probably will, but I think it will take off again soon.

Also keep in mind that for silver spot to double and in turn, you double your money, it only has to go to 20 or so....whereas for gold to double, it would have to go 1500-1600 bucks. Have fun!

reply to post by DataWraith


Hey DataWraith, I totally agree with you about the gems. I tried to sell a ring my sister gave me that she paid $10,000 dollars for. I went to the same store where she bought it. They had a sign outside that they were buying gold. It is supposedly the best store in my small town. They offered me $58.00. Can you believe that???? I could not believe it. Precious gems are a racket. The ring is loaded with diamonds and they were not going to give me one cent for them. Then they had the nerve to try to sell me another diamond. The sad thing is there are people selling their stuff just so they can buy groceries and gas and they are getting so ripped off.....really chaps my butt.