If we think (and there have been numerous posts here to support this idea) that all major banks are going to fail because of over-investing in derivatives, what should we do if we have money in those banks? Pull it out in cash? Convert it to silver or gold? Put the cash under our mattress? And will cash be worth anything?
So if we have cash in checking or savings with a bank, how can we protect our assets?
I see what you're saying. I'm new to this and trying to wrap my head around it and understand. Thanks. But I did the conversion between 1 oz and 1 gram. Dang! There are 28.34 grams in one ounce, so if you can buy I gram, that must be a tiny coin or something. It might be good to have a few of those on hand for purchasing, bartering, etc. But I agree, the better way to go if you can, is to buy it with the lowest premium. I guess you endorse JMBullion then.
There's actually just over 31grams in an oz as the oz that precious metals are weighed in are troy ounces not regular ounces. A 1 gram gold bar is usually like set into a card so that it's not so easy to lose, but they ate still marked like any other bar which is impressive. The small 1 gram coins are usually set into some kind of frame aswell.
I have heard tons of great stuff about JMbuillion and Apmex, but I am in Canada and the shipping prices are too high, even the Canadian online gold retailer SilverGoldBull has expensive shipping. I much prefer local coin shops. They have less selection, not as new things, but in my experience the prices are better and the people working there are enthusiasts and can teach you. If you're in a city there's almost certainly a few coin shops about id go see what their prices are like.
My gold coin was like $200 cheaper at my local coin shop then online, and I got lucky finding a brand new 2022 coin too.
Okay, cool. Glad you got that good deal. I'm curious to see what the little bits of gold look like, lol. Seem like a great thing to have for trading. I wondered about JMBullion because I've seen others here mention it, but I like the idea of working locally, if possible. It's always better to establish a relationship and as you said, learn from an enthusiast, and face to face.
A Troy ounce is 31.1034768 grams.
Thanks.