What if you woke up tomorrow and

[czac]

the background checks to purchase ammo passed in Ca. .......namby pamby land !!!

wow I cant imagine going to buy ammo and having to wait 30 minutes each time... WTF? Is there any limits on how much you can buy at once?
I bet a lot of people will be going to another state to buy ammo or get it from friends who are in another state.
What are the law makers thinking? Id love to see them pass a similar law on something these lawmakers like.

[ironchop]

This has been in the works in India for awhile. It's because their monetary system is about to collapse like so many others poised to do the same. It'd not about 'counterfeiting' at all. It's about a currency collapse.

A year or two ago, India was passing crazy laws designed to get Indians to give up all the gold they've been hoarding. They even offered to 'store it safely for you' in exchange for 'certificates' and other currencies. Yeah like I'd give up physical gold for a certificate. The program went belly up, of course. It was all about removing gold as a threat to Fiat currency.

[Dirtcrasher]

My mom always worries about this.

Where can she buy gold or silver from safely??

She asked me but I never looked into it.....

[3 Wheel Drive]

You can find rare coin shops everywhere, typically your going to pay "spot" price plus a small premium in stores.

You can buy online for a little cheaper but I like walking out the door with my goods. Besides buying online allows big brother to keep tabs on you.

[El Camexican]

In my best recently State licensed NYC cabbie voice...

Relax my friend, sit back and suck the hose. Have some lentil soup and a shot of rum and soon the sight ands smells of Shitcacastan will be a distant memory of another life.

[knappyfeet]

My mom always worries about this.

Where can she buy gold or silver from safely??

She asked me but I never looked into it.....

You can purchase them straight from the US Mint. They also have a bullion seller locator on their site.

Most have a monetary face value and are legal currency.

[3 Wheel Drive]

You can purchase them straight from the US Mint. They also have a bullion seller locator on their site.

Most have a monetary face value and are legal currency.

There are several options when buying bullion, most common are 1 oz rounds (coins). The US Silver Eagle is probably the most expensive.

Other countries mint 1 oz silver & gold coins, there are also private mints which are less expensive which are still .9999% purity. 1 oz bars are also an option which carry a smaller over spot price.

You can purchase smaller than 1oz coins but they generally come with a higer premium.

**Stay away from Chinese 1oz gold coins**

China uses less grams than the rest of the world in minting their coins. 1 Troy OZ = 31 grams. And they are asking the same price as a US Gold Eagle.

[El Camexican]

When you buy from the mint do they ask for your name or any other data?

[Scootertrash]

Here's a post from a thread on another forum, from a guy who is supposed to know his sh!t about PMs (Precious Metals).

It's an 80 page thread where members have asked questions and he has posted answers.

I don't know the guy, don't care if you like his info, don't care if you don't. If you want to claim to be a PM expert then let's see you dispute his info with facts. If you want the link to the complete thread so you can see the questions and answers, let me know and I'll pm it to you or post it here

A few people have emailed me and asked me to make this a thread all of it's own, so here it goes.

(and all of this goes for gold as well):

Most of what you know or hear about silver is wrong. It's not an investment, people aren't going to be trading with it after the zombie apocalypse, and it isn't going to make you fabulously wealthy. What it will do, however, is preserve any wealth you have accumulated in the event of a financial emergency.

Most people have no idea what silver is apart from jewelry, and they have no idea what it is worth (gold either). there are tons of videos online (Google Mark Dice) of people trying to buy a taco, a donut, etc. with an ounce of gold or silver and being refused. people don't know what it is. For that reason, nobody is going to be accepting Mercury Dimes for food after a financial collapse. Better to barter with batteries, ammo, etc.

The urban legend that people are going to trade with silver comes mostly from coin dealer hucksters and alarmist websites. 99/100 people have no idea what it is and aren't going to trade you anything for it.

Additionally, silver is not an investment. Investments pay dividends and grow. Silver does not pay dividends or grow, it sits in a shoe box in your closet and is generally unexciting. For this reason, financial advisors loathe it. They get a paid a commission on it once, at point of sale. They can't have a meeting with you to re-organize your portfolio (get commissions), they can't move you in or out of this or that fund (get commissions), etc. This is why it is never the time to buy precious metals on CNBC or Fox Business. If you need growth or dividends, do what the financial advisors tell you and buy real investments, don't spend money on something that sits in a shoebox in your closet.

Silver, historically speaking, isn't going to make you fabulously wealthy either. If you need to do that, invent something, buy Iraqi Dinar (kidding), or start a business.
Silver will, at most, fluctuate in value against whatever the reserve currency of the world is (currently dollars). It's price up and down can generally (not always see the Hunt Brothers) be tracked against the USDX.

So then, why would you buy something that no one recognizes, isn't an investment in terms of generating revenue, and isn't going to rapidly appreciate in value and make you rich? Preservation of wealth.

Sooner or later all currencies crash. If you want to argue this point with me, that's fine, but all of recorded history is on my side. Anyway, what happens when the currency finally dies out and a new system gets transitioned in? Answer: anyone holding their wealth in the dying medium is immediately wiped out and becomes instantly poor. Your whole life savings disappear and you become a pauper.

So, the answer is to take some of your wealth (not the part you need for investments) and store it in a medium outside of the system that is impervious to being manipulated by bankers and politicians. That would be precious metals. Earlier I mentioned that 99/100 people don't know what silver even is. Who is the other 1 person? People like myself (a small percentage of the group) and BANKERS. When a currency collapses and a new system is set up, who sets it up? BANKERS. Who is preserving their wealth outside of the system in silver, manipulates markets so they can buy more silver, and holds it on their books as the ultimate collateral? BANKERS.

I'm not an alarmist. A financial collapse of the system may not happen for another 200, 100 or 50 years, I don't know. But, I know it will happen. When it does, I want part of my wealth to be stored in the same medium that BANKERS recognize and will accept for trade in parity of new currency.

If I have a $100 bill now, that will be worthless in the new currency. But, odds are, if instead have 5 ounces of silver, it will be the same in the new currency. My purchasing power will be preserved. 1,000 ounces of silver in terms of the old green paper bill wealth will be worth the same in the new purple or orange paper bill wealth.This is why I call it money insurance. Insurance makes you whole against property losses. Silver or gold makes you whole against currency losses. It's that simple. You have insurance on your house, boat, car, etc. why not your life savings?

So, what kind of silver should you buy? Having been in the business on the side for 25+ years, I have some suggestions.

1) Generic bullion. It's cheap, banks and coin shop recognize hallmarks such as Engelhardt, Silver Towne, JM, etc. You'll never have a problem selling it. Never.

2) Stay out of coins unless you consider numismatics a hobby. In the 80s, no one cared if you had a 1868 Morgan-O or a Valentine's Day one ounce bar, it was all going in to the melt pot at the same price.

You'll often hear that "coins are recognizable to the public and you can trade with them." This is generally a line used by people such as
myself to sell you coins with a numismatic premium tacked on. See 99/100 don't know what a silver coin is above for reinforcement of this. If you can buy coins at near or the same price as generic, go for it, but don't be deluded that a Silver American Eagle is going to be worth A LOT more than a marajuana round when it's time to liquidate.

It's not, I know, I wiped people out of thousands of dollars when silver hit $50 and they wanted to sell thei graded SAE collections. Do I feel bad about this? No, because I constantly tell people don't buy coins unless you are a collector. I am going to murder you come sale time if you hold coins. People never listen though, they always listen to the guy in General Discussion who has a 75 ounce collection and "who knows a lot."

Coins are also being faked REALLY WELL these days. You can find fakes on Ali Babba that look exactly like real coins and can't be detected otherwise unless you own a Fisch (coin tool) or an XRF machine.

3) Buy in small denominations. 10 ounce bar or rounds or smaller. DO NOT buy 100 ounce bars. Banks and dealers hate 100 ounce bars. They can be salted and they are hard to move. if you come to me with a 100 ounce bar worth $2,000 at spot, I will offer you $1,700 for it. And you will take it, because that's what all of the other banks and dealers will offer you as well. Stay away.

Okay, so you get all this and think you're ready to buy. Wait, because you probably aren't.

Are you comfortable spending $1,000 on something on Monday that by Tuesday afternoon is only worth $700? Then by Wednesday it's down to $500? Most people aren't.

If you get the part I told you about it being money insurance, then this scenario won't scare you. Go fo it, buy today. However, if this scenario does scare you, then you probably still haven't got what I'm talking about. You are still thinking of silver in terms of dollars and it being an investment.

You need to get to the point where you'd spend $1,000 on it and have it worth $10, and you'd still be excited to own it (because it's insurance against you being poor). If you buy silver, you really need to be comfortable in it not really being "worth" anything other than an ounce of some protons, neutrons and electrons arranged in a specific pattern.

I'm now going to be brutally honest with everyone. The silver and gold industry is fraught with frauds. Goldline, Lear Financial, all of them are designed to sell you coins at premium and separate you from your money. The free reports all tell you about investment potential, end of the world "The Road" type scenarios, etc. It's all bullshit.

Buy some generic stuff from Apmex or the local coin shop, and put it in a shoebox in your closet. Never sell it. Don't worry about what it is worth. Indeed, stop thinking of it being worth anything. It's an insurance contract, nothing more.

Any specific questions, post them here and i will answer them, i hope this helps. Lastly, the main argument people are going to have with what I posted is coins. People have been told all of their lives that coins are the way to go. That is because coins are the finanical advisor equivalent of commission in the metals world (you only get a commission once with metals, so MAKE IT HIGH). Pre 1964 junk is okay, but stay away from SAEs and slabbed stuff unless you are in to collecting. Also, stay away from any foreign coins with old guys with beards on them (they mostly all contain "weird" amounts of silver/gold, dealers will screw you come sell time because it's hard to measure silver amounts unless you have round lots).

[knappyfeet]

Post up the link here.

I couldn't agree more with the exception of a couple things.

SAE , graded stuff and larger valued stuff....100 ounce silver stuff and 1 ounce gold coins are all not ideal and could loose a person $$.

However....I have made money on the fluctuations in price....easily.

[3 Wheel Drive]

Theres a few people in India who would rather have a shoebox full of silver coins instead of their worthless rupees.

[knappyfeet]

The real thing I disagree with is this statement.........

'Buy some generic stuff from Apmex or the local coin shop, and put it in a shoebox in your closet. Never sell it. Don't worry about what it is worth. Indeed, stop thinking of it being worth anything. It's an insurance contract, nothing more."

As with any investment.....it's prudent to keep abreast of any asset and the value of such and it's trend. Insurance policy yes.........investment yes as well. The ladder is far more prevalent as a collapse and zombies and India and a meteor are all far fetched longshots. Buying PM in large quantities now....not recommended. As soon as interest rates go up, 1, 2 or 3 or more points.....gold prices will fall steadily.

[El Camexican]

The real thing I disagree with is this statement.........

'Buy some generic stuff from Apmex or the local coin shop, and put it in a shoebox in your closet. Never sell it. Don't worry about what it is worth. Indeed, stop thinking of it being worth anything. It's an insurance contract, nothing more."

As with any investment.....it's prudent to keep abreast of any asset and the value of such and it's trend. Insurance policy yes.........investment yes as well. The ladder is far more prevalent as a collapse and zombies and India and a meteor are all far fetched longshots. Buying PM in large quantities now....not recommended. As soon as interest rates go up, 1, 2 or 3 or more points.....gold prices will fall steadily.

That's the thing, it's not an investment. It's insurance. Who cares what it's worth today unless you're buying? It's all about what it will be worth when the paper turns to butt floss.

I've collected coins since childhood and thanks to grandma I've even got a few that are worth something. Now I collect them in pure sliver as much as possible due to my geographical situation. I can't cross a border with more than $10K in paper without a lot of explaining, but if I have Canadian coins with a face value of less than 10K who can argue the "true" value and the origin if I travel North with them?

[knappyfeet]

That's the thing, it's not an investment. It's insurance. Who cares what it's worth today unless you're buying?

It's both and in my opinion......a little more investment than insurance policy if managed well.

Let's be clear......a zombie apocalypse and a run on the banks like "crapping in the street" India is a massive long shot in Ustados Unidos. What it mainly is is a storage of value.....an insurance policy that can be bought and traded and sold for profit and opportunity.

Putting it in a shoe box....under the bed and forgetting about it and not monitoring the value of it are words from the mouth of a PM dealer. They make their living buying low and selling high and marketing the "insurance policy" factor. Don't get me wrong.......it is a hedge against inflation but its also so much more.

[El Camexican]

I can't argue with you about the investment aspect, but the way I see it you need to be willing to sell it when you thought it was high and buy back when you thought it was low, like you might as stock. Too much work for me, I prefer to just hold onto it and wait for the end LOL!

I would like to get my hands on a bit of gold, but I'm not really sure how to go about it. I absolutely refuse to buy it if I have to leave any sort of ID. It would have to be cash and carry.