Catholic Info
Traditional Catholic Faith => Anσnymσus Posts Allowed => Topic started by: Änσnymσus on February 12, 2019, 06:00:25 PM
-
Where are the best places to buy gold coins without getting ripped off? Are there any reliable websites where I could buy gold coins from and have them mailed to me discretely? Or would it be better to locate and go to a physical store? I am interested in buying gold coins but I do not know a lot about it. I could easily imagine myself being ripped off or scammed.
-
I have some experience in this regard:
If you don’t mind leaving a paper trail, Apmex.com is very reputable and has perhaps the best prices (or close to it) on the internet.
Not wanting to get in your business, but may I ask what your purpose in buying physical gold is?
-
You can use Apmex or GainesvilleCoins. Or, you can buy at a local store. Most places charge 10% over spot plus tax. Just look up the spot price on the Internet for the day. You can call and get a price quote and then double check against the Internet.
I’ve bought some metals at a local store and they took cash straight up with no ID.
-
In Canada the price is 3% over spot with a premium for Canadian Maple Leafs which are .9999 instead of the usual .999.
For buying no ID of any kind is ever required if you walk into a store.
-
No tax on gold or silver in Canada either
-
No sales tax for coins here in TX. I've never had to pay a premium for Maple Leafs, but have for Silver Eagles.
-
Not wanting to get in your business, but may I ask what your purpose in buying physical gold is?
That should be obvious.
WHEN the dollar collapses to zero (or near-zero) he would rather have 10 gold ounces than $13,000 which will be able to buy 13 rolls of toilet paper after the "1000:1 revaluation"
Long story short, gold is a reliable storehouse of value. Your wealth is maintained. Humans have valued gold and silver since the Creation, and will continue to do so until the End of Time. Gold and silver have never been scattered about cities with no one bothering to pick them up. But this has happened to paper, fiat currencies COUNTLESS times.
Don't think it would be the first 1000:1 revaluation. There have been dozens of revaluations of this magnitude in the 20th century alone! Don't think the USA is special.
Yes, it's the world reserve currency so it's somewhat special, but that just means that when it collapses, most of the world goes with it. It doesn't change basic mathematics, the exponential function, or anything like that.
-
That should be obvious.
WHEN the dollar collapses to zero (or near-zero) he would rather have 10 gold ounces than $13,000 which will be able to buy 13 rolls of toilet paper after the "1000:1 revaluation"
Long story short, gold is a reliable storehouse of value. Your wealth is maintained. Humans have valued gold and silver since the Creation, and will continue to do so until the End of Time. Gold and silver have never been scattered about cities with no one bothering to pick them up. But this has happened to paper, fiat currencies COUNTLESS times.
Don't think it would be the first 1000:1 revaluation. There have been dozens of revaluations of this magnitude in the 20th century alone! Don't think the USA is special.
Yes, it's the world reserve currency so it's somewhat special, but that just means that when it collapses, most of the world goes with it. It doesn't change basic mathematics, the exponential function, or anything like that.
Yes, of course.
But if hyperinflation is the cause for interest in gold, the I wonder if perhaps he isn’t considering the wrong metal?
In that scenario, it will not be gold which has the greatest value, but lead.
-
https://m.youtube.com/watch?v=sN3iITo7gNA (https://m.youtube.com/watch?v=sN3iITo7gNA)
-
Gold for bread only works if there is still some semblance of law and order, like in the video.
And it (or better yet, silver: more easily divisible) is good to have some metals for such situations.
But in the case of WROL (Without Rule Of Law), the man without lead is dead (and people with the commodities you want to barter for will not be interested or n gold/metals. They will want food, ammunition, gasoline, alcohol, and other practical necessities.
Then later, as societies begin reforming, metals will regain value as stores of wealth. But in a total SHTF scenario, they will be worthless.
-
Interesting article about what will be valuable in a post-TEOTWAKI world (TEOTWAKI = The End Of The World As We Know It):
https://survivalblog.com/barter-post-teotwawki-the-micr/ (https://survivalblog.com/barter-post-teotwawki-the-micr/)
-
OP here. I would be interested in gold because it seems solid and more reliable if there ever was an economic crisis with inflation as everyone always fears. Also because interest rates on savings accounts are lower than the inflation rate gold is more appealing (not to get into an argument over the potential sin of usury of having a savings account). But mainly I just really like the idea of having some gold coins. It attracts me for some reason. I would like to have a few valuable coins hidden in a box in my house instead of some digital currency in a bank. I do not have a lot of money, but I would like to buy a few gold coins with some money that I will have available soon. I would only have a few thousand dollars to invest so I could only buy at most a half a dozen coins in the next year or so. One thing is that I would prefer it to be as private as possible. I am sure this is a concern for many who buy gold. I would not want the government knowing that I had bought gold as I would not want them having records and coming to my house with guns to take my gold if things get worse (as many fear the government confiscating their guns, I would fear them confiscating gold as well). So in that way I would fear buying online and perhaps going to a physical store with cash would be best even though it would be more expensive.
-
Just want to make clear I know nothing about gold and I know nothing about money so I will come across as ignorant. So please don't make fun of me for my ignorance. I don't know if it is a good investment but I just have the urge to own a few gold coins. If I do buy gold coins I will probably buy some silver ones as well.
-
You want silver for trading/bartering/buying items in bad times (i.e. like food, clothing, normal items). Gold is for large purchases (i.e. car/house), paying off debt and keeping wealth. I suggest you get a mix of 1 oz silver and also fractional silver (1/4 and 1/2 oz) for future bartering. I'd also get fractional gold - 1/4 or 1/10 oz. It costs more to get fractional but it's good to have options in case you ever need to sell the metals. If you needed to buy a car and only had 1 oz of gold, and the car is only worth 1/10 oz, how are people going to "make change" and give you the difference, if all they own is worthless paper money or anything other than metals? Just a thought.
-
A fantastic site to visit/learn is "ITM Trading" on youtube. The lady who gives talks is Lynette Zang and she just did a series of talks on the economic chaos in Venezuela, how it could happen here in the US, and what to do about it. Obviously, they are biased towards precious metals since that's their business, but facts are facts and history shows that metals are good to have (on some level) in economic disasters. She also talks about other things to do in case of a disaster - food, personal farming, prepping, etc. So it's a good overall perspective.
-
Thank you for the advice about silver. I know that silver is better for small purchases and bartering. I imagine in a SHTF scenario it would be better to have silver because you could make small purchases. That is a point Bill Burr made in one of his videos that in such a scenario you would want silver more than gold because if all you had is an ounce of gold worth thirteen hundred dollars today how would you buy a loaf of bread?
-
If things break down to this degree, such that you are bartering for goods with precious metals, then you are facing so many other problems that how to pay for bread and get the right change is going to be one of the least of your concerns.
If things are stable enough for bread to be baked and sold there will also be banking and financial services where you can exchange metals, just as one can exchange currencies today. Very soon a government will form and declare money into existance.
-
If things break down to this degree, such that you are bartering for goods with precious metals, then you are facing so many other problems that how to pay for bread and get the right change is going to be one of the least of your concerns.
If things are stable enough for bread to be baked and sold there will also be banking and financial services where you can exchange metals, just as one can exchange currencies today. Very soon a government will form and declare money into existance.
This is very true, however, in such a scenario, even if banks and other businesses are operating, that does not mean that financial trust has returned to the current money. In fact, history shows that when a country's economy fails, there are often 2-3 additional failures of new currency before normalcy returns. It can take years before full trust in the economic system is restored. In the meantime, as people turn to precious metals for protection from the up-and-down swings in extreme inflation, a black market or off-the-record bartering system often thrives. If you own a bakery and someone comes in and offers you a silver coin worth $75 or the same amount in paper $, are you telling me you're not going to give the person with the coin a better deal?
Yes, you would be able to trade in your silver for normal money during a crisis but you could also get more value for that metal in the black market, because the financial institutions are going to undervalue the metals because it is in their interest to promote the govt currency, since banks are often taken over by the govt (or at least, heavily influenced and rewarded for promoting the status quo) so that the citizens do not develop their own money system which is outside the control of the state.
If you need to barter, you'll be able to barter with more than just metals, but these are a good part to have in your possession.
-
The hierarchy of needs on a case of societal collapse from hyperinflation would be this:
1) Shelter (either strategic relocation or, if not possible, “bugging in.”);
2) Water;
3) Food;
4) Defense;
5) Information;
6) Barter.
It is only at #6 that metals, important as they are, come into play.
Those who mistakenly believe metals are #1 because they will be able to trade for all the rest will be in for a rude awakening.
The value of metals will only have its place shortly before total collapse (ie., when SOME people will still be willing to part with 1-5), and upon rebuilding.
-
The hierarchy of needs on a case of societal collapse from hyperinflation would be this:
1) Shelter (either strategic relocation or, if not possible, “bugging in.”);
2) Water;
3) Food;
4) Defense;
5) Information;
6) Barter.
It is only at #6 that metals, important as they are, come into play.
Those who mistakenly believe metals are #1 because they will be able to trade for all the rest will be in for a rude awakening.
The value of metals will only have its place shortly before total collapse (ie., when SOME people will still be willing to part with 1-5), and upon rebuilding.
Ps: Don’t buy any food storage plans online (eg., “1 year for 4 people,” etc.). They ALL are a total rip-off!
The Mormon sect has as a requirement of its false religion that all dupes must have 1 year of food storage. Consequently, they have food warehouses in every mid-size or large city in the country, and they are open to non-Mormons.
The have shopped there many times.
Check out this link to see selections and pricing:
https://providentliving.lds.org/self-reliance/home-storage-centers?lang=eng (https://providentliving.lds.org/self-reliance/home-storage-centers?lang=eng)
-
Ps: Don’t buy any food storage plans online (eg., “1 year for 4 people,” etc.). They ALL are a total rip-off!
The Mormon sect has as a requirement of its false religion that all dupes must have 1 year of food storage. Consequently, they have food warehouses in every mid-size or large city in the country, and they are open to non-Mormons.
The have shopped there many times.
Check out this link to see selections and pricing:
https://providentliving.lds.org/self-reliance/home-storage-centers?lang=eng (https://providentliving.lds.org/self-reliance/home-storage-centers?lang=eng)
Incidentally, this storage requirement of the Mormon sect makes Utah a prime strategic relocation destination:
Sparse populations, and lower risk of cannibalism.
-
Those who mistakenly believe metals are #1 because they will be able to trade for all the rest will be in for a rude awakening.
Excellent advice. Metals have their place in preparing, but common sense says that food, water, clothing, security, etc are of a higher priority.
-
If things break down to this degree, such that you are bartering for goods with precious metals, then you are facing so many other problems that how to pay for bread and get the right change is going to be one of the least of your concerns.
If things are stable enough for bread to be baked and sold there will also be banking and financial services where you can exchange metals, just as one can exchange currencies today. Very soon a government will form and declare money into existance.
Even barring total collapse, hyperinflation where money is downright worthless can still occur.
-
Even barring total collapse, hyperinflation where money is downright worthless can still occur.
Also if SHTF to a degree where the government collapsed, in all likelihood by the time society was back together again, there'd be a new currency and the paper money stored under your mattress would be worthless. Gold however is never worthless and could easily be exchanged for the new currency.
-
In response to the OP, I recommend Gainesville Coins. I've made many purchases from them over the years and never had a problem. Just placed another order today.
-
First priority is food, water, equipment (shovels), medical supplies, maintenance supplies, land, seeds, guns/ammo, etc.
If you happen to have enough wealth that you have money in the bank/mattress left over, then YES you want to buy physical gold and silver to preserve your wealth.
If you have more than 3 months worth of expenses stored in the bank, you should be prepared to lose a lot of money (which you woke up every day and worked 8 hours to earn). Ditto for cash. Most of your money -- your nest egg/stored value/wealth should be placed in something that can't just disappear because of a crash. That means the things listed in sentence #1, and precious metals.
But yes, it's foolish to put all your wealth into precious metals, lacking all the basics. You have to start with basic preps that are immediately useful.
-
Gainesville Coins looks good.
-
If you have more than 3 months worth of expenses stored in the bank, you should be prepared to lose a lot of money (which you woke up every day and worked 8 hours to earn). Ditto for cash.
To add to this, certainly I’d have 3 months of expenses saved up but I wouldn’t have much in the bank at all. I’d have most of your cash in hand, at home. In the short term, when a crash starts, there could be bank runs or shortages of cash at ATMs, accounts could be frozen, etc. (this could also happen if a global cyber attack happens and the internet goes down, which would shut-down the credit card/bank industry). Stores
would only be able to accept cash for necessities like food, gas, etc.
In the long run, as the economy crashes, yes, cash will lose value, but it will still be necessary to have it for some time. And you want to have access to it. As they say in law “possession is nine-tenths of the law.” If you don’t have it in hand, it’s not yours.
P.s. It should go without saying that you also want to have any metals in hand too (or buried). Don’t buy any metal stocks or crap like that (unless it’s for a 401k that you can’t cash out yet). Get OUT of the stock, bond, money markets. “Be your own bank” as it’s been said.
-
Defending against cannibalism will be the biggest danger in a protracted SHTF scenario. People will be hunting people for food.
The defense against this is to become part of a well provisioned, armed, and prepped group.
Local militias are ideal, but you should form one with friends, rather than join some pre-existing whacko group (which would probably contain some questionable members.
But a Catholic prepper group (4-5 large families) would be perfect.
-
I have never bought any kind of precious metals, so please excuse my ignorance. I went to some of the sites recommended here to browse a bit, and see that coins that seem to be of the same exact weight and purity can have vastly different prices depending on condition and year. Does that kind of thing matter if you are only wanting to have some gold for emergency and aren't a collector per se? (For example, if I wish to use the gold or silver to trade for a necessity in some dystopian future, will those things matter any more?) This is probably a dumb question, so I apologize in advance.
-
I have never bought any kind of precious metals, so please excuse my ignorance. I went to some of the sites recommended here to browse a bit, and see that coins that seem to be of the same exact weight and purity can have vastly different prices depending on condition and year. Does that kind of thing matter if you are only wanting to have some gold for emergency and aren't a collector per se? (For example, if I wish to use the gold or silver to trade for a necessity in some dystopian future, will those things matter any more?) This is probably a dumb question, so I apologize in advance.
Just one opinion from an experienced metals buyer:
Stay away from the numismatics (i.e., collectibles), which will carry higher premiums for the same weight.
Stay away from "rounds" (i.e., slugs of metal minted by private companies), because they are less liquid (i.e., suspected by potential buyers of being fakes).
Go with Silver Eagles (American) or Silver Maples (Canadian) with a "BU" rating ("Brilliant Uncirculated").
If you go to Apmex of Gainesville, this will be your cheapest option (and the most commonly purchased). These are produced by the mints of their respective countries, and are widely recognized (and therefore less suspect of forgery, and therefore more liquid).
Alternately, buy "junk silver" (i.e., previously minted circulated 90% silver coins). Pre-1965. You need to do a little math to make transactions because of the 90% (vs 100%) thing, but nobody will deny their authenticity.
-
OP here. An important question. How easy is it to sell gold coins today at a fair price in normal times like now? I would not want to have gold and need to convert it to cash but be unable to because I could not find a buyer willing to offer a fair price.
-
Coin shops will buy back gold coins but they'll lowball you a bit so they can get a discount. Non-coin shop people will buy coins at spot price (i.e. current market price) + (maybe) a small markup. A buddy of mine had a bunch of silver that he sold on craigslist so he could pay off school debt. But I would not buy any metals unless you are willing/able to keep them long-term, just to avoid the hassel of trying to sell. That's just me.
-
You can always find a buyer if your definition of fair and his definition of fair are the same.
-
Alternately, buy "junk silver" (i.e., previously minted circulated 90% silver coins). Pre-1965. You need to do a little math to make transactions because of the 90% (vs 100%) thing, but nobody will deny their authenticity.
I should add:
I've heard many Trads talk about the "Pre 1955 Missale" which always confused me -- but they mean "1955". I could have the year off by 1 or 2 digits, but you get the idea.
In this case, 1964 and 1965 makes all the difference. You can find 1965 quarters and dimes in your change today, and they are worth nothing extra. But just one year earlier, and they are made of 90% silver and you want to hang onto them!
As an interesting side note, 50 cent pieces were 40% silver for a few years, from 1965 - 1969 I believe. So keep those as well.
The most valuable (or old) coins you can find in your change today are pennies and nickels. The current run of pennies began in 1957, and nickels changed to the current material/design in 1939. Of course, they recently changed the design, but the material is the same. So you could easily find nickels from the 40's and 50's in your change, and people aren't racing to remove them unless they like "old" coins.