If you have credit cards Consider This!

I strongly believe that soon gold and silver will rise to unprecedented levels. This alone is a reason to invest, but I bought it for the sole reason that if the economy of the USA fails then I have means for barter/trade/

You can purchase gold and silver...coins,bullion.., online with your credit card.

And, NO it doesn't register as a cash advance. It is a purchase!!!!!!!!!!!!!!

if i read you correctly, you're suggesting is that people buy gold and silver using their credit cards and then if the price of gold and silver goes up they'll be quids in. yes? am i picking you up right?

if you were going to borrow money to gamble/speculate like that, credit cards are one of the most expensive ways to do it, it would make more sense to use cash, wouldn't it?

and be careful buying gold and silver online, it's expensive and easily faked. buying it on the net, as opposed to in a bank or at a dealers, isn't any cheaper either, as far as i know.


[edit on 27/5/09 by pieman]

reply to post by awakentired


Do you have a good source to purchase from?

I want bullion and I don't want to pay very much for the transaction (commission or fees).

Don't do it.

Credit card interests are ridiculous.

In the next 5 years, I believe Gold/Silver will rise, but in the short run, it's still mixed.

If market falls soon like many of us believe it will, remember what happened in Sep 08. Commodities fell with it because everyone ran to cash.

I wouldn't go as far as borrowing money from your credit card to buy gold/silver. That's ridiculous.

I have used apmex and have 100% confidence in them for both gold and silver. I bought coins, but each to his own. Yea, my cards are at 14% but with inflation that will undoubtably occur my purchase will make money.
Not to mention a hedge against the dollar falling.
Besides all of the above Its an unsecured card in the worst case I loose nothing but my credit rating

reply to post by kenji4861


Most of my cards are offering me 0% APR for 1year right now.

Now if you really believe that the dollar is going to collapse or hit hyperinflation, then it might not be a bad bet.

reply to post by pieman



Whilst almost a good idea , most credit cards are still at the APR rate of at least 15.9% here in the UK, buying online is a good idea for quickness sakes, but the price of Gold and or silver is high even online.
The rates are going to go up seeing as the banks haven't had the decency to lower the rates in reflection of the interest rates and will more likely raise them as soon as the rates start to rise again, making the whole process pointless .

Buying Gold or silver is always worth it , but I suggest you use cash before the cash itself becomes useless instead.

One thing you should look into is transferring your credit cards around to try and find the better deal, pay them off quicker , the amount you'll save in the long run outweighs buying a gold nugget or bar.
If you can save a couple of quid a month , then buy small amounts of gold.
My plan is pay off the credit cards then buy quite a few 1g bullion bars, I know 1g doesn't seem a lot, but if the whole economy goes t*tsup then you wouldn't want to buy a loaf of bread and some milk with a 20g bar would you?
Check out your local online seller or failing that your local gold shrap dealer.

reply to post by pieman


I agree, but if TSHTF, who cares about paying your credit card bill? All of that infrastructure, (i.e. banking, online bill pay, the postal service, cash to pay your bill, etc.), will probably be in ashes anyway.

Unless you're worried about credit card companies hiring armed goon squads to go collect the monthly minimums from everyone?


[edit on 27/5/09 by MajesticJax]

[edit on 27/5/09 by MajesticJax]

Originally posted by kenji4861
Don't do it.

.

If market falls soon like many of us believe it will, remember what happened in Sep 08. Commodities fell with it because everyone ran to cash.

Don't you believe that the "cash" market was/is artificially upheld by the Fed's printing presses? and Oh yea, at that time the dollar was the world's currency. This isn't the picture now. Russia has already dropped it..China is just waiting for the opportune time

reply to post by MajesticJax

My thoughts EXACTLY. The damned bankers went bankrupt because of the unscrupulous deals. Let them eat sand. Now my grandkids are bailing them out of their greed. I'll pay my bills untill I can't and if I die before TSHTF then my kids can have the gold and silver I charged.

Originally posted by pieman
if you were going to borrow money to gamble/speculate like that, credit cards are one of the most expensive ways to do it, it would make more sense to use cash, wouldn't it?
[edit on 27/5/09 by pieman]

Of course using cash is best! I"m working on minimum wage. Cash goes to bills. I do have a good credit history and at this point in time it is worth the gamble to risk all.
I'm not saying in this post that you are a prudent person for following my path. I am saying that we are on a bus heading for a cliff and Obama is driving. I think he's stepping on the gas!

You choose.

you've never tried to sell gold or silver before have you???
Listed market price is one thing buy price another and sell price in a whole different category...

Pick up the phone and start calling dealers... tell them you have "X" numbers of ounces to sell... ask for a per-ounce price and I guarantee it will be a good deal lower then current market listings...

the price gets run up partly due to all these broker fees that get passed along to the buyer but when your the seller they expect you to sell at what amounts to wholesale... Better to pay in cash and buy from a private party... just get yourself a test kit to make sure your getting what your paying for.

reply to post by DaddyBare


Apmex gives their buy price. I buy coins ..Gold eagles and Silver eagles.
And yea, it has been rumored that China is selling knock-offs on ebay cheap . You get what you pay for. Caveat Emptor!

I am buying with the mind that the dollar is going into hyperinflation sooner rather than later. IF I am correct my tubes of silver coins currently valued at $280 will be worth double at least. Say I'm wrong. Then at the very least will hold value vs dollar falling...unthinkable

reply to post by awakentired


Look I'm not trying to shoot you down or anything but my wife is a silversmith... twice a year we take all her scraps to sell them per ounce... it makes no diff if there in ingots or just thin strips of wire the price is the same, per-ounce... Over the years we do make a "Small" profit on her scrap gold... the price has steadily gone up after all but when it comes to silver we're lucky to break even... the simple truth is we're always paying more than we sell for... and some dealers are downright happy to short sell and otherwise cheat wherever they can... the only reason she does it is finished jewelry sells for more than the sum of its parts

Yes gold has been a good investment long term but short term not so much

reply to post by DaddyBare

no offense taken. In fact I would call you the voice of reason in an unreasonable time.
I am being unreanonable to match the times. I'm a gambler and my bet is that the dollar is going to plummet and that precious metals are going to sky rocket. Ultimately, I believe that there must be a currency backed by a precious metal,once again. If for no other reason than to satisfy the masses that are sick and tired of transferring wealth to the well connnected.
And back to topic.
CC can be used to hedge your bet. I , a gambler, on the poorer side of humanity used half my cash and all of my credit to :
1. Have barter resources
2. Have traveling resources
3. Hedge my US $ from the inevitable inflation. Lets face it you cant print 3 trillion dollars +++ without creating massive inflation.

The primary school lessons of supply and demand teach that much..even in California where I was schooled.

reply to post by DaddyBare



BTW DaddyBare Simper Fi

So lemme get this right, you want us to take credit cards and speculate on Gold and Silver?

Perhaps you have not considered the revolving daily 20% interest rate on the credit card?


This sounds kind of retarded to me...Im sorry but it just does.


I dont even buy ammo on the credit card and it's value has gone up 150-200% in the past 2 years.

BTW, at this point in the game....Lead and brass are the precious metals you need to be worried about. If the SHTF, I WILL NOT trade you a single solitary bullet for a wheelbarrow of gold or silver.

I don't think some of you understand quite how hard the shtf is actually going to be.

Your gold is going to be useless as well. You are better off stocking USEFUL commodities.

Lol. I've been prepping for this scenario way too long. I am just passing what I belive is common sense.
The SHTF and what the hell do i care about a credit card. Except regretting the fact that I didnt buy something that I am now missing! and OH $2000 left in credit. Whoope fk
For that I have silver and gold!!

[edit on 27-5-2009 by awakentired]

I don't recommend the credit card.

But, as far as buying gold, I have bought some. I remember when gold was $700ish, and I thought, If I had money, I'd be buy gold right now. But, I did not research it much.

I didn't have $700 to buy gold.

Now, I realized that I do not have to by a oz. I can buy it by the gram! I've seen grams selling for around $40.00.

I know I'm not going to get rich here...lol....but I can buy gold too.

Maybe some of you were thinking $900 something? I can't do THAT. Look into it. There are different weights. I'm not into the coin thing. I buy small bars.