Frank
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Post by Frank on Aug 7, 2015 13:18:20 GMT 10
You make some good points frostbite, but whether they are for prepper sheep or not I don't know, everyone has different priorities.
I don't buy PMs as I can't shoot them, eat them, nor do I have any current use for them, but if someone has the spare cash to invest then that's up to them to decide.
I can see a couple of reasons for investing in PMs, firstly without considering the prep angle, you could just invest and make some money off them if you know when and what to buy. Also, preppers (not all) like to have back-ups, upon back-ups, upon back-ups for a huge variety of situations and there maybe a time when they can trade and benefit from them.
The most important thing would be to do a lot (A LOT) of research before shelling out the $$ for PMs (they aren't cheap) and not just follow the herd....
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Post by Peter on Aug 7, 2015 13:40:27 GMT 10
Agreed. Only when our basic needs are met can we see the value in luxury items. Unless - in the event of a lead shortage - the similar properties of gold make it suitable for forming bullets. This seems ridiculously extravagant pre-crunch, but if things get tight, it may be an option.
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Post by Fractus on Aug 7, 2015 14:10:43 GMT 10
Agreed. Only when our basic needs are met can we see the value in luxury items. Unless - in the event of a lead shortage - the similar properties of gold make it suitable for forming bullets. This seems ridiculously extravagant pre-crunch, but if things get tight, it may be an option. Need to be careful melting down jewellery. Could be shot by your wife's wedding rings |
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tyburn
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Post by tyburn on Aug 7, 2015 14:48:36 GMT 10
I have some PMs, although taking the form of my wife's jewellery and some silver coins we were given as a wedding gift. I can see their usefulness in a localized "event", where for instance you could provide a necklace as payment to get out of a war zone, but then again, what's to stop the person just stabbing you and taking it anyway? Again, this only works if things are "normal" elsewhere, and the metals still hold some value someplace else.
Regarding the wife's jewellery - I'm not sure what thing are like in other parts of Asia, however here in China, anything less than 24k gold is regarded as inferior or fake. I have therefore overhead Chinese tourists in Australia complaining about how the jewellery is so "fake" or low quality, as its generally 12 or 14k. On the other hand, plenty of expats in China complain about the soft bright yellow 24k gold that is used locally, but looks so gaudy and cheap.
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Post by Peter on Aug 7, 2015 16:54:49 GMT 10
Agreed. Only when our basic needs are met can we see the value in luxury items. Unless - in the event of a lead shortage - the similar properties of gold make it suitable for forming bullets. This seems ridiculously extravagant pre-crunch, but if things get tight, it may be an option. Need to be careful melting down jewellery. Could be shot by your wife's wedding rings Or maybe even shot by my own. |
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Ammo9
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Post by Ammo9 on Aug 7, 2015 18:48:54 GMT 10
PMs aren't really a prep, more a form of financial insurance. At least that's how I see them.
Until I have a mortgage I keep a small % of my savings in PM. Specifically silver, because 10% of my current savings is less than 1toz of gold and silver has more industrial uses so I see it holding value better in the long run even though silver currently trends with gold.
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Ammo9
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Post by Ammo9 on Aug 7, 2015 19:39:32 GMT 10
Haha not 20k... as a recruit firefighter I'm on 43k/year. Think the spot price of my current stash is about $1200 and it probably cost me $1400 including shipping.. not horribly expensive and I've got a few nice pieces as well as some cheaper stuff.
Premiums depend on what you buy, then safes or buried pipes or whatever you wanna store it in.
Can get low premium stuff for a couple dollars/oz over spot. Products like American silver eagles are usually between 4-7/oz over spot.
10oz bars are usually about 10% over spot.
Good and silver have been on the decline for a few reasons, some conspiracies about why that is but for the less tin-foily it's just supply and demand really
The lower it goes the more I want to invest, cost of production is $10/toz for most bigger producers so I think that's where it could bottom out
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Morgo
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Post by Morgo on Aug 7, 2015 23:57:58 GMT 10
I'd have to agree on PM's being more a financial insurance for after SHTF. During a SHTF I doubt too many people are going to be trading you a weeks supply of food and water for lumps of relatively useless metals etc
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Post by SA Hunter on Aug 9, 2015 13:02:01 GMT 10
The only precious metal I store are on the end of a number of differing calibre projectiles.
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Ammo9
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Post by Ammo9 on Aug 9, 2015 16:39:01 GMT 10
I have more kilos of lead, copper and brass than ounces of silver.
'nuf said
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Post by highlandmick on Aug 13, 2015 8:22:04 GMT 10
Inflation devaluation of cash if its 4% a year average so you save $100 in cash you lose $4 a year so the cash is worth less and less. So if SHTF dose not happen a little bit of PM is not bad idea and if the dose hit the fan i dont think cash (plastic with an imagery worth) will be any better to have.
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Hoopy
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Post by Hoopy on Aug 13, 2015 12:26:27 GMT 10
Of course storing $1200 worth of long term storable food is better,PM's are valid only in a functioning system but are vulnerable to a rigged market...store the rice mate and like most people with common sense know that food security is lacking in this country.
Ya can't eat PM's.
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Ammo9
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Post by Ammo9 on Aug 13, 2015 16:33:37 GMT 10
PMs aren't meant to be rice, they are a store of wealth. I can easily carry that much silver in the bottom of a pack but I can't carry that much rice and certainly not without drawing all the wrong attention.
Not every event is end of the world, your money is no good here-type situation. I might need to change state or country, I might get put in a form of state of emergency camp.
After a flood or house fire that silver will still exist. That rice is stuffed though.
Not saying don't stock rice, I'm saying you guys are looking at PMs wrong
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Hoopy
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Post by Hoopy on Aug 13, 2015 17:16:52 GMT 10
Historically food(Or the lack of it) has caused more riots and violence than the lack of money.I'm pretty well hoping not to see many people if TSHTF but if someone rocked up to our place hungry then I just couldn't see 'em helping in the veggie patch for a bit of gold/silver.I'm not arguing the point of PM's being usless just that long term storable food gives more scope to bartering when food is scarce to the amount of PM's you would get for $1200.
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