Coin dealers, pawn shops, many banks now deal in gold. Credit Suisse or Swiss are setup to be used like an actual currency.
This is what they look like
Money In US Dollars - What To Do?
- Thread starter Djshorty89
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Coin dealers, pawn shops, many banks now deal in gold. Credit Suisse or Swiss are setup to be used like an actual currency.
This is what they look like
My uneducated opinion:
All currencies are being devalued at the same time. Just at different rates.
There is nothing we can do about it, the system is designed that way.
Gold is a better indicator of the real value of currencies, although Gold is being held down too.
Gold and silver. Silver's just starting to go back up after taking a tip for a few months and is still very affordable.
Gold is about as liquid as it gets. Many dealers are buying over spot right now for gold and silver. Take gold to dealer, receive cash, walk away. This works in any country for any currency. Try doing that with real estate or a business.
For those that want to buy gold online: American Precious Metals Exchange - APMEX.com (I was gonna put my affiliate link but I was afraid of getting flamed. Fuck it.)
To my knowledge, the gold related Obamacare provision makes gold dealers report their purchases of gold or silver that exceed 600 bucks, so its just an added reporting requirement. I've never seen anything about adding to the governments ability to confiscate our gold, (maybe I missed that?) although they do have the right to do that. Enforcing it is another issue entriely, last time they tried an extremely low % of physically owned gold was ever bought by the government.
APMEX is expensive if you buy alot of silver or gold. I've been buying through basically a buying club of sorts recently and I'm loving the prices I'm getting. I basically get the same prices dealers get, 2.50 over spot for silver eagles for example.. and 2.40 when i bought a monster box recently.
I deal with gainsville coins which gives repeats a discount
They give discounts on monster box's as well
They give discounts on monster box's as well
+1 for Gainesville coins, I've ordered silver from them in the past, good rates and ship it the next day
Don't forget to buy yourself some high-powered protection (and learn how to use it) to protect your safe full of gold and silver...
basically get into commodities. Silver is expected to do well over gold over the short and medium term as i'm told. So look into that. (i'm not an expert.. get expert opinion on this)
I made a lot of money betting on silver earlier this year, but realistically, I think precious metals is a bad bet right now. I could give you a bunch of reasons why , but the underlying concept is, you can't say something is a good investment in a vacuum, you have to consider what it's currently trading at. Do I think Amazon stock is a good value @ $200? sure, but unfortunately it's up around 225 now, which makes it less attractive to me. Same with gold/silver. I was buying up gold and gold derivative paper stocks earlier when gold was priced at $1220/troy ounce, but not at ~$1600, I think the value is already priced in there, so I'm now on the bear/negative side of it as a current investment. You can't say something is a "good investment" without considering what it would currently cost you to get into.
Silver is more problematic to me, it's taken quite a fall in the last month, and its historical ratio to gold's value still leaves some room for upside, but I think most of the money that could be made going bullish on silver has already been made since it was trading down around $25/oz. Just my .02 cents, and I was really bullish on silver earlier this year, but the bull run is probably mostly complete now.
Cliff notes = Don't buy precious metals right now, they've had quite the run-up recently, and they are going to get hammered at the first hint of this debt ceiling issue being worked out, plus myriad other systemic risks to further gains in value.
Silver is more problematic to me, it's taken quite a fall in the last month, and its historical ratio to gold's value still leaves some room for upside, but I think most of the money that could be made going bullish on silver has already been made since it was trading down around $25/oz. Just my .02 cents, and I was really bullish on silver earlier this year, but the bull run is probably mostly complete now.
Cliff notes = Don't buy precious metals right now, they've had quite the run-up recently, and they are going to get hammered at the first hint of this debt ceiling issue being worked out, plus myriad other systemic risks to further gains in value.
Yes, that's what I'm talking about, the reporting requirement. So they know who has the gold so they know where to come and get it when the time comes.