Seems like a good idea before there is a bank run due to various reasons. Do I have to report a withdrawal of like 5k?
You're viewing a single comment thread. View all comments, or full comment thread.
Comments (77)
sorted by:
If you can afford it, keep at least $1000 in $20 bills in a safe place. Take out $200-300 every couple of weeks and stash it until you think you have enough. Then start stacking precious metals.
I have only ordered online but I wish I knew a local shop where I could pay cash anonymously and get a good deal. Most online places are free shipping for $200+ orders, not like 1/10 oz gold or 7 oz silver. The premium over melt value will always be higher for silver than gold but Isilver ounces are a much more practical form of money
I prefer smaller notes.
I plan on opening a bank.
Can you get metals a little over spot? Then who do you sell it to when you want to get fiat?
It's not about selling it. I don't think you would do well exchanging in either direction. The point is to have non fiat money and non-stocks investments for barter, store of value, tax free exchanges, and maybe beat inflation. . I would only invest in precious metals with money you can afford to lose since there's no guarantee of it's SHTF value or that it won't be stolen.
Well, you can't buy groceries with precious metals.
Exactly! I can just imagine a whole platoon of assayers. (Sp?) Similarly, the question of bitcoin type savings. If we get hit by a BMP or suffer a infrastructure failure, how do you expect to exchange either of these forms of currency?
Not at a grocery store anyway