Looking into buying pm. Can anyone help a lady out?

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Gracie

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Hello everyone! Recently me and my husband found out that money is/could be useless so we decided to invest in pm. If someone could please answer a few questions for me I would really appreciate it. =]

1.) Should I invest in just gold and silver or other pm as well?
2.) Should I buy in small in increments (grams), bigger (oz), or both?
3.) Bars, coins, or both? Or is it a preference?

Haha sorry for all the questions
 
Start with junk silver hun! You cant go wrong.
 
Junk silver is pre-1964 US silver coinage, in general. Check www.coinflation.com for the actual value of the PM in older US coinage.

Junk silver can also be sterling silver "items" such as flatware, etc., at least by my definition of junk silver. Typically, though, people mean pre-64 coinage.

ADK
 
Welcome to the forum Gracie!

I am of the opinion that we do not 'invest' in silver, we preserve the value of our saved work. If I were investing, I would be churning paper and banking the arbitrage, but when I stack silver, i am preserving my accumulated wealth [such that it is] for future use. When you stack your silver, and put it in a cool dark place for a few years, you soon realize that your purchasing power is no longer subject to inflation. By the mere whims of congress, the US can spend fiat money like drunken sailors on leave, reducing the value of its perceived value, thereby causing other countries to lose a little bit more faith in our "money".

You are making the best decision you could possibly make! Just remember, when you stack PM's, you cannot watch the ticker each day unless you have steeled yourselves against the nerve wracking roller-coaster ride that it invariably takes, as the battle wears on between paper and physical. Furthermore, you must realize that while the paper price may be 35$, the physical price can be, and often is, higher than that of paper. Through premiums, dealers in physical will make up the difference between the 'control price' [paper] and the prevailing price that silver can actually be purchased for. This is made evident as you look at the prices charged at Apmex, where the premium is illustrated in living color.

Good luck and happy stacking.

Oh, and welcome to the Club.
 
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That's exactly what I meant! I just used the wrong wording haha. Thank you and I can't wait to get started! I plan on starting my stack for christmas. The best gift I can give to myself and my husband I believe.
 
Penn said:
Start with junk silver hun! You cant go wrong.
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Why do you think that?

If I don't believe in SHTF scenarios where I will need smaller denominations, and am accumulating solely for investment purposes, which is better?
 
superhero said:
Why do you think that?

If I don't believe in SHTF scenarios where I will need smaller denominations, and am accumulating solely for investment purposes, which is better?
Click to expand...

In that case go for either bars (cheaper premium) or government coins such as American Silver Eagles (liquidity).

$.02
 

i take offense to the bolded portion. :rotflmbo:
 
superhero said:
Why do you think that?

If I don't believe in SHTF scenarios where I will need smaller denominations, and am accumulating solely for investment purposes, which is better?
Click to expand...

I'm not crazy about junk silver. Imagine one day you have to spend your PMs and you're dealing with a newb. Which scenario do you prefer:

  • You see, all these dimes are pre-1964. That means each one contains 90% silver, which is about 2.5 grams of silver per dime, which is... errrrrr... trust me, there is silver in these coins.
  • Here's an ounce of silver. It says so right on the coin.

Keep it simple

If you want to protect a large savings from inflation, I would go for plain gold bars.
 
I don't do the junk silver, myself, for similar reasons... although I do like Morgan dollars. Although, if I can pick up flatware, etc., cheaply at estate sales and the like, it's going home with me!

Other than Morgans, I'm a bar stacker with the occasional ASE or AGE.

ADK
 
From now on- I only buy junk silver or eagles.

This gal is new- keep it SIMPLE! Junk silver is easy to understand- eagles have high resale.

Junk silver is the most versitle- as you always still have face value and in a pinch you "could" spend it at face- this is where 40% can be good. (65-69 halfs)

On junk- I like barber, merc diimes- and halfs.

Just get started stacking hun. Dont let these guys make it more complicated then it is.

Even tho silver can be bulky- you are a long way to worry about storage.

If you have to buy bars- do not go higher then 10 oz. Stick to name brand too.
 
also- junk and eagles are treated better for tax purposes if you get that far.

I am shocked the guys here frown on junk. It is so basic. 3 halfs weight more then 1 oz. Often you can buy them on ebay and get free shipping and a rebate for later. I add every month even if it is only a few dimes.

The big thing Ma'am- is to physically hold what you own.
 
right now- I am expecting 3 dimes from ebay. I keep track of what I buy on a spread sheet.
 
Penn,
I do not frown on junk, i smile at diversification when it comes to the shiny. I like junk, but only to a certain extent. When the balloon goes up, there will be folks who will trade in junk because it is instantly recognizable, and they understand what each unit represents. There will then be some folks who will only accept silver eagles and maybe silver maples because that is the only silver that they recognize as legitimate.

Then, you will have those who will only deal in small bars because they read too many Richie Rich comics when they were kids, and only recognize small bars that have .999 fine stamped in bold across the front of the bar and it is familiar in shape.

It's all about having a little bit of each of the most highly recognizable forms of real money [PM's] so that you can deal with all sorts of folks.

When TSHTF, you will still need to "trade" for survival and to get things that you want, and not everyone will be 'edumacated' right away. Mind you though, folks will get dialed in pretty damn quickly when faith in the almighty 'dolla falls apart.......very quickly indeed.
 
-- that is my point- junk silver is legal tender- so it is the most recognizable form. This lady has NOTHING right now- she simply needs to start. She could go on ebay this minute and buy a roll of dimes- that = half of 7.15 oz- so a roll of dimes is abit over 3 oz.

Ok- say she gets the dimes in her hand. She then could buy a 3 of halfs. She gets those and is all happy- at that point- she gets on ebay- and buys a 1 oz eagle. Now she can compare - at this point this has over 5 oz of silver- now she can compare and contrast her next moves.
Talk of rounds and bars- can occur then Once she gets 5 oz in her hands- the entire task becomes clearer on what it means to stack.

She should do this NOW- do not wait for Christmas.

After she has the 5 oz- then she can get on APMEX or another dealer- and consider a roll of eagles.
 
American Gold Eagles (from one tenth of an oz all the way up to one oz) and American Silver Eagles are what I buy.

Simplicity, and they are are better recognized, are what matter to me.

Although, a very good case can be made for "junk silver" US dimes & quarters too.

Happy hunting! Like our above friends have said: Buy now, buy often!
 
Penn said:
This gal is new- keep it SIMPLE! Junk silver is easy to understand- eagles have high resale.
Click to expand...

Junk silver is easy for you because you're into it. But in a SHTF scenario, good luck convincing anyone outside the loop it's worth more than 10 cents. They might even call shenanigans and shoot you in the face
 
mike said:
But in a SHTF scenario, good luck convincing anyone outside the loop it's worth more than 10 cents. They might even call shenanigans and shoot you in the face
Click to expand...

I nearly lost a mouthful of tea on that one. :rotflmbo:

Funny, but possibly true!

ADK
 
Penn said:
How much cash are you starting out with?
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Hey, she's a lady. Don't ask her (because it's not polite) and especially not on a public forum (because it's not safe).

I know I sure wouldn't be telling the world how much money I have to invest in stuff, whether it be stocks, PM's or canoes. Especially in canoes.
 

Or for our Canadian buddies, Maple Leafs. For all the same reasons as above.
 
Gracie, your original post seemed to focus on your concern for the failure of the dollar. Therefore my answer is taking that concern of yours into account as the major driver of your question.

With that in mind, I would certainly limit your purchases to (1st) silver and (2nd) gold.
For silver, stay with the 1 oz coins (Eagles, Maple Leafs, etc). You can get more silver for your dollar if you go to a recognized 10 oz bar, but I wouldn't go any larger than that.

For gold, you will definitely pay more premium for anything less than 1 oz, but if you are wanting to buy gold for storing your wealth I would recommend again the Eagles and Maples. You could also look at the 1 oz gold bars as they will be a bit less generally, and anything smaller than this will have a pretty good premium attached ... generally speaking.

It really depends on how much you have to spend (that is something only you know) and what your main motive is. Again, my answer is based on your comments about what has driven you to the point of looking at PM's - a legitimate concern about the devaluation of the dollar and the possibility that in the not-too-distant future it could be worthless or almost so.

One final thing, it is important that you and your husband do this as a team. Agree on your goal and then your "Plan of Attack" and then work to achieve your goal. When someone is just looking into gold/silver purchases for the first time, it can be a bit unsettling. Buy as you have confidence in your decision and don't do it at the expense of peace of mind. There is quite a learning curve in the early days of this change of mindset from fiat currency to PM's.

All the best to you both!
 
Hi Gracie, welcome aboard,

I don't have too much to add myself, everything important has been said here already, you have plenty to digest and make your mind. Keep it simple, and keep it in the most recognizable form, ask your local dealer these two questions and see his advice too.

IMHO, small bars might be much easier to sell in times of a "gold/silver rush" by small investors. That's just what they will be advised by their financial advisers, once start panicking and asking how to get some exposure into PMs.


BTW - just start a topic on majorly (if not 100%) maskuline forum, with "help" and "lady" in the title - and just watch the topic grow :rotflmbo:
 
bushi said:
...
BTW - just start a topic on majorly (if not 100%) maskuline forum, with "help" and "lady" in the title - and just watch the topic grow :rotflmbo:
Click to expand...

Who says chivalry is dead?
 


Then the question is like- hey I am going to buy a car- what should I buy?

Go with my ebay post- spend $300 and get your feet wet. Then from there you are ready for a roll of eagles from a dealer.

Maybe next week we can ask what the meaning of life is.
 
Gracie,
I should probably interject here and let you know that boats and silver don't get along very well. History is littered with tales of lost silver due to unfortunate boating accidents. I myself have had the unfortunate experience of losing all of my silver in a tragic boating accident at the Layrentian Abyssal. My silver is in water too deep to even reach by submarine.

You have been warned.
 
When she posted this she owned 0 ounces.


today she owns 0 ounces.

Yeah- men- we sure "helped" her. Gag.
 
Of course that can only be a blind assumption on your part Penn. In reality, she may have bought an enormous stack, but will keep it quiet because simply put, it is no one's business but Gracies how much she buys, when she buys it, where she buys it of where she hides it.

We exist as a group simply because we share some common interests, among which is the buying and holding of shiny, dense metals, to which we assign a hard value. We do so freely and with the foreknowledge that our government has been, and will continue to debase the paper we call dollars.

Those who come here to read our rantings also come here to gain insight in to our obsession and perhaps to study our means and methods with the intent of joining our little cult of metal. I would however venture to guess that many of them would be silent when questioned about quantity, price or location of any metals they may have acquired, and rightly so.

Rant over.
 
Perspective Penn. She asked for advice/info and plenty was given. Some of it conflicting, but that happens when you solicit opinions from more than one person. Not everyone always agrees. Decisions on what to purchase can vary greatly depending upon many factors including one's goals, plans, fears, investment horizon and wealth (among others).
 
The hardest part is getting started. Once you do tho- it all falls into place.

I can not wait to hear the good news that she started.
 
ugh.. I really don't like some of the advice I'm hearing in here..

Get coins people. Bars are too easy to counterfeit. Find a respectable dealer and don't pay large premiums. Scale in at a set day each month and don't make big purchases unless gold is 10-20% off it's high. Usually, you'll want to do it when sentiment is really negative and we have a big down day.

Silver is MUCH more speculative. You'll see 20% moves inside of a month in either direction. Again, scale in. If you are going to get silver, expect volatility and be willing to SELL it when people are really happy and buy it back when the mood is depressing.

Never go all in or all out until you are convinced the crisis is over.
 
Be careful about churning.

I try to live by- stack as much as you can afford to forget you own.

and yes=- bars and rounds are faked more then coins are.
 
Penn said:
Be careful about churning.
Click to expand...

AGREED!

My comments are more to get people used to the idea that at some point, you'll want to be selling your gold. We will have a mania/bubble phase just like real estate did. Just like the dot coms.. It's good to train your brain to recognize that you need to be buying weakness and selling strength. MOST people I've met do the exact opposite unfortunately...
 
I prefer silver to gold- tho I own both.

While maples are better then rounds- I do not like that they scratch so easily. So I prefer eagles.

I agree with the comment- that husband and wife must be in this together for the best results.
 

DSA,
I am nearly completely dedicated to silver, with only a tiny amount of gold. That said, when I buy silver, it is never bigger than one ounce bars or rounds. in addition, the ratios are different. For instance, I am about 30% junk, 50% sovereign rounds like ASE's and Maples and the balance is little bars or generic rounds. I should have added that to my earlier post, since I am also deathly afraid of getting a counterfeit bar/round and anything over one ounce in size is the most likely candidate for counterfeiting.

As far as gold, I only have a few ounces and some jewelry of various grades.:wave:
 
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