Berkshire Hathaway is a very unique case. 1) it’s basically a mutual fund. buying BRKA your getting all kinds of companies just not a lot of tech. 2) it’s SO HUGE he can’t buy a sizeable position without moving the market and also often without reporting requirements to the SEC. It is interesting to see him get quite liquid. He’s also 94. Does he know something the markets don’t ? We all can’t live forever and he seems in good health but then again, he’s 94. Maybe he’s hedging his bets if the markets tank after the election maybe he’s gathering dry powder to jump back in at lower prices.

quote:

Originally posted by clayflingythingy:
Another problem investing in gold...government can seize the gold.

Only if they know about it!

Were I to own gold coins/bullion for shtf scenarios, I would ensure it was all private. I wouldn't tell even my best friends that I had it. Same thing for silver, though I don't think fedgov would try to confiscate silver.

Any prepper supplies should be kept very private.

Buy physical gold, NEVER a certificate.

All the metal I have is in my safe.

There is a HUGE scam out there that was even advertised on the radio to the tune of six billion dollars.

^^^^^^^

Up to 1934, there was a type of paper currency in circulation called “Gold Certificate” which anyone could redeem for the actual gold coin that it represented.

One month after FDR took office in 1933, he declared a “bank holiday” and issued an Executive Order which demanded that the public to surrender all gold coins and Gold Certificates at local banks, which were then exchanged at equal value for Federal Reserve Banknotes and Silver Certificates. Those “Gold Certificates” were later declared to be unlawful to own, subject to criminal penalties under law.

At that time, gold was valued at $20.67 per ounce, with a $20 Double Eagle containing $19.99 worth of gold in it. The other 1-cent was made up of copper for alloy hardening of the coin, as pure gold is very soft and doesn’t wear well. That 1-cent is known also known as seigniorage. Seigniorage is the difference between the face value of money and the cost to produce and distribute it. When the face value of money is greater than the cost to produce it, the government makes a profit on seigniorage.

After the turn-in date, gold was then revalued upward to $35.00 per ounce; a mark-up of 67%, or a devaluation of the Dollar by 59%, however you want to parse it.

In 1964, the same thing happened to “Silver Certificates” ($1, $5, and $10 denominations), when the price of silver exceeded $1.29 per ounce. Silver coins were rapidly disappearing from circulation which resulted in a “coin shortage”, blamed on coin collectors when in reality it was the general populace doing it. The current cupro-nickel clad coins, issued beginning in 1965, further exacerbated the coin shortage, proving once again the validity of Gresham’s Law; “good money” (silver coins) is driven out of circulation by “bad money” (clad coins) when both have the same nominal value.

So, the lesson to be learned from this is; IF YOU DON’T HOLD IT, YOU DON’T OWN IT !!!!!

This message has been edited. Last edited by: 2BobTanner,

Very interesting ,
So pretty much,
There is very little that can't be taken away.

quote:

Originally posted by bendable:
Very interesting ,
So pretty much,
There is very little that can't be taken away.

That's why privacy is so important! Cash, quiet, calm.

Most of my gold coins are 10th, 20th or 25th of an ounce. I figure easier to trade with if needed in future.

Youser !!!

Kitco Friday close...gold $2721.80; silver $33.78

Silver went up $2.15 Friday and $2.45 for the week. It'll be interesting to see what the markets do when they open this afternoon.

It's crazy to think now that I overpaid for a 1 oz Argor-Heraeus Year of the Dragon Gold Bar @ $2433 in July. I had to have one. It had gone up $100 since I previously looked at them. Didn't want them to sell out before I got my dragon for 2024. It completed my set of 1gm, 5gm, and 10gm bars of the same mintage. My limit on ASEs has been $35 and managed 2 tubes of 2024s @$27. Completing a second tube of 1/10 oz Eagles (or Krugs, Brits, Phils, or Maples) may take a while longer but motivation to not spend dollars on useless shit. Back in 2020 I paid $32.50 for 1 oz bars. It's a freakin' rollercoaster and just need to hold on tight.

Hamden106
Master of one hand
pistol shooting
Picture of Hamden106
posted September 25, 2024 03:30 PM Hide Post
I still do not know how you would buy a loaf of bread with a gold bar or collector coin.

A loaf of bread would be worth something like five 9 mm rounds.
If you are preparing for a collapse, skip silver, and gold, and buy ammo.

quote:

Originally posted by justjoe:

If you are preparing for a collapse, skip silver, and gold, and buy ammo.

And there are those of us of who do both.

PMs, particularly gold, are not really for "bartering" in a post apocalyptic world. It is to retain some of one's wealth if fiat currency goes to hell. Same reason why individual countries hoard so much in gold reserves.

quote:

Originally posted by justjoe:

A loaf of bread would be worth something like five 9 mm rounds.
If you are preparing for a collapse, skip silver, and gold, and buy ammo.

To each his own but if there is really a collapse, arming folks that aren't me or mine doesn't sound like a good idea. I'll make do without the bread.

quote:

Originally posted by braillediver:
It'll be interesting to see what the markets do when they open this afternoon.

I vote for fall like a stone so I can pick up a few tidbits.

quote:

Originally posted by pace40:

quote:

Originally posted by justjoe:

A loaf of bread would be worth something like five 9 mm rounds.
If you are preparing for a collapse, skip silver, and gold, and buy ammo.

To each his own but if there is really a collapse, arming folks that aren't me or mine doesn't sound like a good idea. I'll make do without the bread.

Reminds me of something I read recently, that is where the term "Give me a shot of whiskey" supposedly comes from, cowboys would pay for a shot of whiskey with a bullet.

Just hit $2750 this morning.

Anyone genuinely worried about a collapse, needs to head to a small remote homestead/at least develop those skills/prepare to kill rather than surrender food.

Short of that, it’s all economic hedging.

(Family members talked about finding dead bodies with large amounts of gold, because no one would take the gold for food, when the Soviets were in one of their “seize all the food of the undeserving “ moods.)