I’ve never done this before, not even with the smallest amount of buying power. But I’m trusting my gut and doing this one way or another. And I’m about to make the largest purchase of my life. I don’t even count buying my house because that’s basically just a long term loan payment to me based on my credit. I’ve taken out 20k cash from my bank through a HELOC. I’m able to afford the interest payments so that is not the issue. And I know I’m not doing this as a get rich quick scheme, or really with a goal of making any money at all. I simply want to hold the value of my money I’m able to obtain at the moment for when shit hits the fan. I took the money out in cash at first because I didn’t want to buy gold/silver online with a distinct paper trail. But I’m just trying to see if I made the right choice. Will I get the best deal/value for my money by going to a bullion shop/coin dealer shop and buying my metals there? Or would I get my best price online like at jmbullion.com, and just suck up the issue of a paper trail? Thanks in advance, help a fren out on what to do in these crazy times.
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I regularly buy 20x1oz silver " rounds " from - https://sdbullion.com/ (i usually just get whatever is cheapest per, generic they choose design) I've never had a problem with them.. I usually order another when the previous one is delivered. It arrives in a box about the size of a brick with all 20 in a recloseable plastic tube.
I too buy generic bc silver is silver , and in shtf scenario, nobody will care what shape it is , just like taking grandmas ring to the pawn shop , they will tell you they only care about gold content
There is interest on a HELOC loan. That is more premium on what you're wanting to buy. This is why folks use cash back credit cards instead of cash. They can get 3-5% cash back on a few thousand purchased on the card then they pay the card with the cash. With a loan, you might be adding 8% to the price. Prices and premiums are all over the place right now as some shops and online dealers are running out of stock and are increasing their premiums. SD Bullion has implemented a minimum $500 order currently to deal with the order demand.
If you want to find the best deals something like https://findbullionprices.com/ is helpful. Check trusted ebay sellers with a long and positive history of selling coins and metals. Check your local coin shop and check the online sellers. Some prices on $300 items will vary by $30 from seller to seller. JM Bullion, SD Bullion, Monument Metals, Hero Bullion, Bullion Exchanges etc.
Looking at the rise in prices for metals and understanding the condition of the banking system, the world, the dollar, new financial trading partnerships (BRICS) and so on, I would say anything other than the dollar is a good thing to be invested in. Precious metals are universally valued. Converting cash to metal is a great idea right now because it looks like were going to have problems with our dollar.
If you want to avoid mistakes that new silver and gold stackers make there are a lot of good YouTubers who have channels about buying precious metals. Find their help videos for stacking gold/silver, tips for first time buyers, videos about what they would do differently if they started over. Some good ones I have watched are: Silver Dragons, 2 is 1, Yankee Stacking, Empire Precious Metals, and Silver Star Eagles.
Good luck and silver is heavier than gold at equal dollar amounts, if you're buying a lot, actually moving your metals around can become something requiring planning. 100k in silver will require a handcart to move, 100k in gold could fit in both your pockets.
Yeah but if I use a credit card to buy coins or bullion not only is there a paper trail but they also charge an extra 3% to cover the processing fees. Even online dealers have lower prices if sending a check/money order or even cryptocurrency.
Not offering any financial advice
If you are worried about when the SHTF and have a mortgage, then gold is your best bet. Any large debt would be better served with gold. Determine whether you want bullion, coins, or collector coins. Each have purposes. With collector coins, you also have the collector value to consider when purchasing. Some people prefer coins over bullion, because of confiscation fears. There are several schools of thought about gov confiscation of gold and how it might be applied in the future.
For transactions such as buying groceries etc. then silver is what you want. Many people buy "junk" silver, which are coins minted before 1964. You can also buy bullion. Silver has much more industrial applications and there is only a limited supply, which can blow its price through the roof. It is a reasonable purchase for first time stackers.
Also, consider other PM. There is copper, platinum, etc.
Look up Lynette Zang on YouTube. She represents a company that will help you for free to set up a PM plan with regard to collector coins. However, you don't have to subscribe to their program, she still offers great advice about PM.
My favorite quote of hers is "If you don't hold it, you don't own it". Which means investing in gold ETFs or IRAs means you only "own" it on paper, if the SHTF, likely you will never see that money again.
Also, if you ever needed to barter using this silver, you would need to have a way to divide those kilo bars, take that into consideration. I have cutting torches and could melt down the kilo bars using a crucible and molds. I have a wide variety of coin sizes, it should be something to strive for. Big blocks for value, small coins for trading.
Kilo bars gives you the best prices. The more you buy the less mark up you pay.
If you buy silver that has been created by the government you will pay a higher price. Look at the price difference between Silver Eagles and a round created by a silver dealer.
For instance, spot price is $25.22 right now.
1 oz American Silver Eagle Coin (Random Year) $40.11
1 oz Sunshine Walking Liberty Silver Round $30.81
You pay more for government silver coins because collectors like creating sets and price is derived from the number that was created that year. Less they make, more they cost.
They rounds are not collected by collectors to create sets, people are just stacking the intrinsic value of the silver. There is a unlimited supply so they are cheaper.
The mark up on that 1 round coin is $5.59
Round price 30.81 - spot price 25.22 = markup 5.59
Now if you buy a kilo bar.
1 Kilo Silver Bar (Varied Condition, Any Mint) $932.34
A kilo is 35.274 ounces.
932.34 / 35.274 = $26.43 per ounce
Your mark up is $1.21 per ounce. You are paying 4.38 less per ounce.
The trick is to buy for the cheapest price and give the dealer the least amount for selling to you.
JM is where I buy mine, they deliver quickly, There are mints on Ebay where you might get a better price but then you need to watch for the scammers, they will scam you if you are not careful. They use misleading ads.
For instance, this is just 1 example: they throw in a bunch of silver war nickels in to a collection of silver coins. War nickels are 40% silver, you are paying 90% silver prices. They got you. Be careful
https://www.jmbullion.com/silver/silver-bars/kilo-silver-bars/
A kilo is 32.15 Troy ounces not 35.
1 Troy is is 1.097 regular oz
it's good to flex with larger bars, but honestly the most practical size you can own is 1oz of any kind. I mainly buy 1oz bars of either gold or silver. Gold is a bit pricier but has the prestige behind ownership. Silver is more manageable, accessible and makes more sense as a direct currency swap for most people. Silver is also the main metal used in previous periods of American history as the backing metal for the dollar. Personally if you can, buy maybe an oz or two of gold and make the rest of your stacking collection centered around silver investments.
So I can bring out my gold during dinner parties to impress my guest?
Do not buy from eBay , do not buy from china , get a reputable dealer and pay his fees, bc he checked for purity .silver rounds with a mint mark are preferred over bars bc you can spend like cash. Stay away from scrap and shot silver. Your dealer can test in front of you. And only purchase physical PMs to keep in your possession, never purchase paper stocks. Also expect to pay 5 dollars over spot price. Spot price is what it cost coming straight out of the ground ,
SD Bullion is the cheapest, most reputable online usually. You could also try Miles Franklin as a lower-cost alternative. Highly reputable but it's a phone order only, they don't have a retail website up yet. You'll pay more per ounce (higher premiums) normally at your local coin shop (LCS). But if you buy less than $10K worth at your LCS, there's no paper trail. At this stage of the game though, your LCS might not even have $10K worth of silver to sell. Presumably they'd have gold at that level however.
Buy, buy, buy. Your local LCD will always take cash I assume, but they do keep records. So if paper trail is what you're concerned with, I think that your stymied either way. I buy all of mine online and I've never had a problem.
My local shop only has to record it if it's over $5k per person in a single day. A guy was looking to buy $10k of gold and he suggested that he break it up over a few days if he wanted to avoid the paperwork.
Good to know. Thank you!
I’m in CA and I’ve been buying gold/silver through a trusted dealer. My dealer only keeps a paper trail if the transaction is under $1500. Some bullshit law here in CA looks at a purchase under $1500 as “speculation” and taxes are charged. I also tend to go into one of his locations to purchase in person and I bring in cash.
Another point, when I buy online, I always have it tested immediately.
There have been some stuff going around about fake gold. Always have your PM tested by a reputable dealer.
Also, you have to consider where you are going keep your stacks. Some people use vaults but that means someone else has your life savings under their roof. I prefer mine under my roof. You have come up with a good storage solution, that is hidden and whatever you do...do not go around telling people about your stash. It is hard not to talk about your stash, but I guarantee if someone (even your closest buddies) thinks you got a stack of gold in your house, when SHTF, you will be a prime target.
Lastly, with all that is going on, there is no telling what is going to happen, I would make sure your PM hoard is addressed in a will. If you have family and want to protect them, make sure your hoard goes to the right people by putting it down on paper. Nothing worse than the state getting their hands on your hoard because you didn't draw up a will. Now you can do a simple one online, so there is no excuse.
Least paper trail is cash from a coin store. Next best thing is crypto to silver gold bull or other online bullion dealer that takes crypto.
Buy lowest premium possible there is very little collectible value in bullion
If you buy bigger than kilo bars, say for instance the 100 ounce bars, you will notice the mark up price increased. Use your calculator and find the best deal.
The problem I have with gold is I can trade 2oz of silver for a tank of gas. But how will you barter $ 1800 per Oz of gold.
By the time you are using silver for gas it will be way higher than that
You don't.
Gold is for large balance debt mortgages, car loans, etc.
Silver is your metal for gas, etc.
By going to the guy (merchant) with the stack of silver who does trade between towns. He'll take your gold and give you the equivalent in silver and he would be happy to take your gold with him as he goes to buy $50k in parts, motors, guns, etc. that he sells at his shop, business, etc.
Same as not asking the lemonade stand kid to break your $100 bill. Gold will be useful even in a bartering situation you just need to know who can change $2k to silver and who cant.
I buy when it is much lower than it is today, at 25.00 and some cents an oz. The trend says it will rise. As far as Gold goes, several years ago it was down and I bought 1/10th of an oz once or twice a month. I wait for the dip, and sell to a good guy in Burlington Vermont. I buy through JM Bullion, when I do. So, say I want to save 2-3 hundred a month, I buy silver instead of putting it in the bank. Savings can be dipped into, transferred to checking, etc, if I have bullion instead, I don't do that, it sits and will be sold only when it is well over 30 an oz, and if the banks go to the shitter, it will rise much more over that. I would love to start buying those small gold coins again, but it is not feasible right now. I buy rounds and coins, but remember, a good dealer will give you more for the coins, and so does JM Bullion, they will buy back, but you have to wait for the spot to rise above what it was when you bought it, they will only pay spot value, but do pay more for coins over rounds.
In Indiana check out silvertowne, great people to buy from. I think one of the top 5 minters in the country. They usually have a bucket of used silver rounds also to choose from. Don't let people talk you into paying the ten dollar per coin premium for silver eagles--remember this --premiums disappear over time-- the shiny new silver eagle will be worth the same as a dirty old used silver round in the future--both 1 OZ of silver. Also https://volunteerpreciousmetals.com/ in Tennessee, good people and trustworthy. Sign up for franklin sanders email commentary there and read everyday. You will learn a lot. He's one of us. I have used both places and recommend them both, I have no monetary attachment to either, just a customer.
Update on my purchase. Went to a local dealer and got the same price for silver as I would have online. Got a nice variety of buffalos, eagles, 10 oz, 100 oz, and a kilo bar. Scariest thing of my life 😂. Not due the the actual interaction in the shop. Because I have always been frugal and relatively responsible with my money.
But something interesting happened while I was there. I was let into the shop and was chatting with the employee. The doors were locked and they unlocked and let people in as they came to the door, understandably. This middle aged woman, I’d guess somewhere around late 40’s or early 50’s, was let into the shop. The employee said oh your the woman I spoke with on the phone who wants to buy 10k of silver buffalos. She then began to say that she had some information from a very reliable military source that the emergency broadcast system would be deployed. And asked if they had read so and so documents on a website, I can’t remember what she said. She said go online and read those, because supposedly we are in a continuation of government and that we have been under martial law for quite some time now. You can imagine the looks on the two store employees faces 🤣. She said now I’m just telling you what I heard, but it’s so hard to tell what to believe now a days. The employees were just dismissive about everything and were trying to get her out of there as fast as possible. When she left they both looked at me and started laughing and asked if I heard what she said? I replied and said you know she does have a point though, it’s hard to distinguish what to believe these days and a person really has to do their due diligence themselves to decipher what is and is not true. And with everything that has happened these past few years, it’s not like I’m shocked anymore about something crazy happening. Although, pre pandemic it would have blown my mind.
But it just made me think, hearing that tells me that people have been waking up and have been hearing things other than in mainstream media. And how it’s funny that I’ve heard all what she was talking about but just a few years earlier. I really wanted to just blurt out “TWO MORE WEEKS” when she said all of that. Not to poke fun at her but kind of poking fun at both of us, knowing that I know I’ve date fagged before probably having people look at me just as crazy as those two employees. Thanks for all of the help everyone!
buy for long term. find an awesome local dealer so you can do metal arbitrage. swap AU for AG when ratio's are favorable. swap AG for AU when ratios break opposite. deal metal for metal, premiums vanish and no cash.
Goldenstatemint.com my favorite