quote:

Originally posted by doublesharp:
my answer is always the same - bags of junk silver coins.

I have rounds and bars, but like you said you can buy old rolls/bags of US silver coins, SHTF and these being smaller denominations and recognizable will make them easier to exchange or use.

"Gold is money. Everything else is credit."

J.P. Morgan in 1912 while testifying to congress.

Here’s how I look at it. If you’re hedging against inflation or just pure investing, gold is king. If you think you may ever need precious metals to buy commodities, then gold can be a problem. How do you buy a dozen eggs or 300.00 worth of anything with a 4000.00 coin when change can’t be made? In that case, silver makes more sense. Better yet, produce your own commodities wherever possible.

***older thread revival*

So, how are we doing these days. Constitutional at spot. Gold premiums also lowest I've seen. Trying to pick up something every couple weeks if it's a decent deal. Guess we'll find out if Mr. Slammy still has a pulse but I don't necessarily wait for dips, just deals.

quote:

my answer is always the same - bags of junk silver coins.

A couple of days ago, while we’re packing to move, my wife brought out a couple of plastic jars of quarters; along with another pile of newer quarters. The plastic jars were all pre-1965 junk silver quarters. Just weighing the lot and taking off 10%, totaled probably $3600. Turns out my wife got them from her folks’ home after they died.
A coin with face value of 25 cents is worth a little over $4.00 in silver.
Fortunately we didn’t take those down to CoinStar!

For SHTF, guns and ammo. Anything else, it’s Vegas baby!

I considered buying physical gold years ago but due to fakes (and my ability to know if it is fake) made me opt out.

I just cannot see a situation in my lifetime where I am paying for food or necessities with gold and silver. Even if I had a stash of gold and silver, I’d probably get scammed out of it when I get old and senile anyway with all teh people preying on the elderly.

I think all the media is scaring people into SHTF prep. I am heavy in the stock market and if that fails, we have much larger problems to address.

My opinion as I have been thinking the same is during a SHTF scenario SILVER coin is much easier to trade for smaller items than Gold. God Bless

quote:

Originally posted by architect:
I question the value of any precious metal holdings in a true SHTF scenario, Who would want to trade your metals for their food/ammo/etc? Inflation hedge, I get, but that still assumes a market exists, and that there will be no technical breakthrough or fad change that erases value. Lead+copper (ammo) should always hold some value, but cigarettes/coffe/alcohol/matches may be better trade goods.

These are my thoughts as well.
In the well written trilogy starting with “One Second After” the things that people consider valuable in a SHTF scenario are food, guns, and shelter as well as fuel…

Silver and gold are both a store of wealth. De dollarization is not good.

It is part of a portfolio at 5-10%. If you don’t hold it you don't own it. Junk or constitutional silver is great. Cheap to buy for now. May get killed when you sell it back. Silver eagles you pay a huge premium for you will likely lose out on. Maple leafs are decent.

Gold is always king and less volatile yearly and daily. Better returns. The market is not normal right now. I agree with pace and his advice. I would do some junk first. Then bars, lower premiums and finally ASE (eagles) or maple leafs.

Gold is for trade between kings, silver between gentlemen, copper between peasants and debt between slaves.

This message has been edited. Last edited by: 1flynDO,

I understand the theory of setting aside funds for family members , weather it's cash,precious metals or property.

My question with the precious metals is,

If the recipients of said precious metals decide to cash it in for what ever reason,

How taxable will it be ? and will financial structuring laws come in to effect?

If they can seize cash, and coins are legal tender are they open to seizure as well ?

Can they be in a trust as well like a house ?

Under 10k i do not believe there is reporting. Also no tax if it is american. i.e. silver eagles, gold, eagles, gold buffalo and junk silver or pre 33 gold.

I will wait for someone else to chime in as well.

Some decent youtube videos. Silver dragon, yankee stacker salivate metal and silver joker who i really like.

Anything passed on to heirs has the value reset. So when the heir sells it, their gain is only from when they inherited it to when they sell it. The estate doesn't pay any tax on the gain during the time the decedent owned it. (Unless the estate is worth something more than like $13M).

State taxes may be different.

quote:

Originally posted by SigSentry:
***older thread revival*

So, how are we doing these days. Constitutional at spot. Gold premiums also lowest I've seen. Trying to pick up something every couple weeks if it's a decent deal. Guess we'll find out if Mr. Slammy still has a pulse but I don't necessarily wait for dips, just deals.

Silver has been very volatile since this thread began in January. Lots of significant dips to buy, and tops to sell. Silver channeled for the past year, giving lots of trade opportunities in the paper market.

I was already a bit overweight in metals, so I sold some silver a few months ago to rebalance. We're at 20% silver and 5% gold in the overall portfolio (ignoring home equity). I don't regret selling the silver for a nice profit, as my philosophy is Don't Look Back! Our ytd profit on the metals is in the 6 figures.

I believe both metals have a strong upside ahead. The silver manipulators appear to be running out of ammunition. Gold is being hoarded by central banks globally. I might be a bit nervous to buy into these price points today were I just starting to build a large position. As an established long term investor, I am comfortable holding onto what I have.

The best time to buy was yesterday. The next best time to buy is today. Might lose or might win. No one knows. That is the real. Silver could dip back to the 20’s and gold to the 2k range. Could climb to 5k and 50-70 an ounce respectively.

Its a buy low sell high proposition. Last time I bought silver paid $14/oz. The current pricing is stupid.

Looked at the 200 day moving average for gold and silver. 3176 and 34.878 respectively. Retracement is normal but many say don't wait for the dips cause you'll just be buying higher later. The low premiums have made it similar to a couple years ago when spot was lower but silver eagle premiums were north of 10-15 bucks. Gold may be a little over bought but I believe silver has some catching up to do. The current GSR is what's stupid imo.

Agree on the gsr

quote:

Also no tax if it is american.

I don’t believe that’s true. The IRS views precious metals as collectibles and taxes their long term gains at up to 28% instead of the normal 20% on long term capital gains. There will be another 3.8% tax (NIIT - Net Investment Income Tax) if your investment income exceeds $200,000 single or $250,000 married filing joint. Also, there’s different in charitable contribution rules for collectibles.