Buying precious metals......

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Ray
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Buying precious metals......

#1 Post by Ray » Sat Jan 12, 2019 8:22 pm

One of my hobbies is buying small amounts of gold and silver and very minor numismatica in the form of finding a rare coin in the process of collecting junk silver.

As investments to grow wealth, it has been a flop since I did not have the funds to buy big during the historic lows but everyone says to keep buying as a hedge against inflation and or eventual catastrophic decivilization.

There is no doubt that much of the world where banks are mistrusted folks both rich and poor keep their savings in the form of gold even buying regularly at current highs.

They say gold has never been worth nothing while various world currencies have been severely discounted.

I argue that if buying gold/silver it is just trading money it is also like busting a $100 bill for change and only getting $80 for my trouble.

They come back with, "What if that $100 bill will be worthless someday and only the $80 worth of metal will be viable ?"

So it is more of a pastime and hobby with me......Like the blue-haired septuagenarian ladies who pull on the one-armed bandits and count their losses as simply the cost of entertainment.


Your thoughts, opinions, personal experiences ?

P.S. The people who make a living trading in precious metal for the most part, only buy to sell and they invest their profits in solid blue chips instead of hording metals for themselves.
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GunnyMack
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Re: Buying precious metals......

#2 Post by GunnyMack » Sat Jan 12, 2019 9:06 pm

You forget the other precious metal- LEAD. if ya got lead you are ahead in many ways that will get you silver and gold if needed. Here's hoping we never get to that point!
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Re: Buying precious metals......

#3 Post by piller » Sat Jan 12, 2019 9:13 pm

If civilization were to collapse, I would want lead, copper, and brass more than silver or gold. As Robert Leroy Parker knew, with enough lead in the right size units you can get whatever you want. Don't forget, he was the one who came back from South America and told some gullible writer how he died in Bolivia.
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Re: Buying precious metals......

#4 Post by Pete44ru » Sat Jan 12, 2019 9:16 pm

.

IME, buying a precious metal, like gold, and storing it away, is an excellent way to keep off-the-books income off the books. :mrgreen:


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Re: Buying precious metals......

#5 Post by Old Savage » Sat Jan 12, 2019 9:31 pm

I buy precious metals.
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Re: Buying precious metals......

#6 Post by piller » Sat Jan 12, 2019 9:34 pm

Those metals would retain value in an end of the world situation.
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Re: Buying precious metals......

#7 Post by JerryB » Sat Jan 12, 2019 9:53 pm

Doc, I really do think you are right about very precious metal, I reckon you have more than those two.
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Re: Buying precious metals......

#8 Post by Tycer » Sat Jan 12, 2019 10:01 pm

In countries where the currency collapses, silver and gold always have a known value with regard to tangible items like bread and such. The value may not be known at the time of the collapse but very shortly after most everyone can tell you what a loaf of bread costs in silver. I’ve read that a loaf of bread or a suit of clothing today costs about the same in silver as it did during Jesus’ first time here.
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Grizz
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Re: Buying precious metals......

#9 Post by Grizz » Sat Jan 12, 2019 10:13 pm

piller wrote:
Sat Jan 12, 2019 9:13 pm
If civilization were to collapse, I would want lead, copper, and brass more than silver or gold. As Robert Leroy Parker knew, with enough lead in the right size units you can get whatever you want. Don't forget, he was the one who came back from South America and told some gullible writer how he died in Bolivia.
YEAH, ME TOO.

I'm planning to make a foundry to make ingots from my copper and bronze collections... patience is the key, sell into the buying frenzy when it arrives again.

Ray, I prefer base metals. They get jacked as much or more than gold and silver, percentage wise, and are much easier to collect. just toss em into the blackberries until the panic spike hits.

look at a chart of the history of copper prices.. it's amazing

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6pt-sika
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Re: Buying precious metals......

#10 Post by 6pt-sika » Sat Jan 12, 2019 10:49 pm

GunnyMack wrote:
Sat Jan 12, 2019 9:06 pm
You forget the other precious metal- LEAD. if ya got lead you are ahead in many ways that will get you silver and gold if needed. Here's hoping we never get to that point!
Yeah I’m kinda embarrassed to say the ONLY metal I’ve ever bought was lead .
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Re: Buying precious metals......

#11 Post by Sixgun » Sun Jan 13, 2019 1:11 am

Here is my 5 thousand word essay as a picture is worth a thousand words.----6. (If everything collapses, lead, iron and food will be needed FIRST..and maintained, followed closely by gold, then silver and it will stay that way until people regain confidence in paper money, whenever that may be.)

Image

Image

Image

I'd like to add tin, antimony, and the alloy Linotype to the list of precious metals to hoard

Image

Image
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gamekeeper
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Re: Buying precious metals......

#12 Post by gamekeeper » Sun Jan 13, 2019 6:27 am

The SAS carry gold sovereigns when deployed behind enemy lines.
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Re: Buying precious metals......

#13 Post by fordwannabe » Sun Jan 13, 2019 9:20 am

I have a couple ounces of gold. A couple pounds of Silver, and just under a ton of lead. Couple hundred pounds of steel too, that has been crafted to help dispose of the lead. Mainly crafted by Winchester, Marlin, Palmetto State Armory, Ruger, .......
a Pennsylvanian who has been accused of clinging to my religion and my guns......Good assessment skills.

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marlinman93
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Re: Buying precious metals......

#14 Post by marlinman93 » Sun Jan 13, 2019 1:05 pm

Back in the 70's I bought silver every payday. But it was under $5 an oz. then. I stopped when it hit $6 an oz. and still have what I bought back then. Have considered selling it when prices went nuts, but my wife wanted to keep it, so it's still here. I'd rather sell it and invest it in more guns myself.
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Re: Buying precious metals......

#15 Post by FWiedner » Sun Jan 13, 2019 2:54 pm

I've bought, sold, and traded silver for decades.

The cycle runs thus: I buy bullion for months or years, I sit on it for a while, I get tired of lugging it around and storing it, then I sell or trade it to buy some guns or a car or something. Feels like a payday for some reason. Then, a few months later, I start buying bullion again.

I'd like to claim that I'm breaking even, but... nah.

I've taken to keeping a balance of cash, metals, and other things to "trade" should the banks forget to open one day, and I'm still buying silver and gold. I guess because it makes me feel like I have real, portable, "wealth".

And... I mean, darn... It's silver and gold.

:oops: :lol:
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Re: Buying precious metals......

#16 Post by mickbr » Sun Jan 13, 2019 9:36 pm

I agree with you Ray I dont see it as a get rich scheme. Main advantages to me would be the fact its enjoyable, more effective to stockpile than cash since its harder to spend when bills come in. A cash pile is very attractive and portable to looters, the worst of which is often oneself. Also as everyone notes there are advantages to it in a collapse scenario. Now I got to scroll back up and drool a little over sixguns version of fortknox.. 8)

M. M. Wright
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Re: Buying precious metals......

#17 Post by M. M. Wright » Sun Jan 13, 2019 11:04 pm

Here's my latest investment in precious metal.
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Booger Bill
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Re: Buying precious metals......

#18 Post by Booger Bill » Sun Jan 13, 2019 11:30 pm

The worst I ever got stung was investing in silver on margin about 1980. That's when the Hunt brothers created a false market by buying up a big part of the market. It also happened at the most critical point of my life, just had got married, a baby etc. That stuff left me gun shy.

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Re: Buying precious metals......

#19 Post by Grizz » Mon Jan 14, 2019 12:44 am

gotta know when to sell. I knew someone who had two bags of dimes buried in his back yard. paper value $100,000 when the Hunts were in the hunt. My Dad and his friend laughed and laughed about how much the silver was worth. Then his wife dies, and then he died with worthless silver buried in the back yard. ya gotta sell it to make money... when it's time to sell.

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Re: Buying precious metals......

#20 Post by marlinman93 » Mon Jan 14, 2019 11:01 am

I have to add that I've never gotten one ounce of enjoyment out of looking at those ounces of silver I bought many decades ago. But have gotten more enjoyment out of looking at, shooting, and playing with my guns than I can ever measure.
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