Pennsylvania Firearm Owners Association
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  1. #11
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    Jul 2008
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    Chester/ Clinton, Pennsylvania
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by free View Post
    Buy no other gold.

    Why NOT the maple leaf?

  2. #12
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    Sep 2008
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    Radnor, Pennsylvania
    (Delaware County)
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by crnkit View Post
    Where Do I Start?
    I am getting my severance after Retiring and am thinking to invest some into physical Gold.
    What are the best scenarios?
    Can I use it for quick liquid use in emergencies? (Instead of the IRA 3 day wait.)
    Thanks
    Metal investing can be tricky. Gold and/or silver can be a good inflation hedge in the long term, but if the investment is more for a SHTF situation then you should be aware of a few things.

    I had the same idea back around 2009 or so, then somebody on PFOA wrote a long post about thinking things through. One suggestion was to read Surviving the Economic Collapse by Fernando Ferfal Aguirre. He writes about the 2001 collapse of the Argentinian economy and government and how he survived. Those in the know then, packed up their bags (filling them with US Currency), and left. The people remaining were in a world of hurt. One of the points that Aguirre made was that using large (as in 1 OZ) gold coins in transactions attracted bad people who might follow somebody home. His suggestion was to use smaller coins or gold chain.

    Porter Stansbury, an offbeat investment guru, wrote a book titled The American Jubilee which predicted an economic collapse if the government tried to forgive all student debt. I tend to take this guy with a shaker full of salt, but he did make a few interesting points. One was that to avoid attracting attention if the US currency became valueless was to keep a supply of so-called junk silver. These are beat up pre-1964 US silver coins. They have no collector value, but are 90% silver by weight. I just looked up 1946 - 1964 Roosevelt Dimes, they are $2.21 today (July 3, 2024). BIG WARNING, do NOT bet the farm on any of these. But given the amount of advice flying around in this thread, I thought it might be interesting to see some less-known (and maybe more economically dangerous?) strategies.
    Know your audience. Don't try to sell a Prius at a Monster Truck Rally.

  3. #13
    Join Date
    Nov 2010
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    Piney twp, Pennsylvania
    (Clarion County)
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    Default Re: So I Want to Invest in Gold.....

    "Junk" pre-65 silver coins are a viable option, and sold in shops and online with vendors mentioned.
    FYI here's how you can calculate what your coins are worth.
    "Assuming you had $100 face value in coins and the spot price of silver is $29, you would perform the following calculation: .715 x $29 x $100 = $2,073.50."
    .715 comes from the amount of silver in the coins. .715 ounces of silver/dollar of face value of coins.
    https://acdwyer.com/investing/valuin...lver-coins.php
    It ain't what they call you, it's what you answer to.

  4. #14
    Join Date
    Apr 2014
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    Pittsburgh, Pennsylvania
    (Allegheny County)
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by Grizzlytrap View Post
    Why NOT the maple leaf?
    Because, in America, the AGE is more recognizable and more popular.

    If you live in Canada, then by all means, buy Maples.

  5. #15
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    Dec 2012
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    Philadelphia, Pennsylvania
    (Philadelphia County)
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by free View Post
    Bad advice and totally unnecessary. U.S. Mint sells proof and "uncirculated" and other special coins at a premium markup.

    Buy from any major reputable dealer and you will be fine. Part of the law authorizing the minting of gold and silver American Eagle Coins requires the mint sell "regular" coins through these dealers to create a vibrant primary and secondary market for the coins. Such dealers are totally legit.
    you are completely wrong.

    "U.S. Mint sells proof and "uncirculated" and other special coins at a premium markup"
    premium markup? no.
    3rd party sellers like dealers are the ones who buy US Mint products and mark them up - not the US Mint.
    they aren't allowed to mark things up - they are a federal entity that is prohibited. they cannot change their pricing based on demand.
    again that is the 3rd party dealers.
    they also sell bullion & medals - not just proof and uncirc coins.

    "Part of the law authorizing the minting of gold and silver American Eagle Coins requires the mint sell "regular" coins through these dealers"
    again you are wrong.
    go to their website www.usmint.gov
    they sell directly to the public - and to dealers in BULK.
    dealers are the ones who have literally paid other ppl to order from the site etc in an attempt to control the market of any given product.
    dealers have been caught paying homeless ppl to stand in line to buy gold and silver products at US Mint locations when the Mint states 'only one per customer'.

    so wrong...

  6. #16
    Join Date
    Jan 2011
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    Waynesboro, Pennsylvania
    (Franklin County)
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by bugout View Post
    you are completely wrong.

    "U.S. Mint sells proof and "uncirculated" and other special coins at a premium markup"
    premium markup? no.
    3rd party sellers like dealers are the ones who buy US Mint products and mark them up - not the US Mint.
    they aren't allowed to mark things up - they are a federal entity that is prohibited. they cannot change their pricing based on demand.
    again that is the 3rd party dealers.
    they also sell bullion & medals - not just proof and uncirc coins.

    "Part of the law authorizing the minting of gold and silver American Eagle Coins requires the mint sell "regular" coins through these dealers"
    again you are wrong.
    go to their website www.usmint.gov
    they sell directly to the public - and to dealers in BULK.
    dealers are the ones who have literally paid other ppl to order from the site etc in an attempt to control the market of any given product.
    dealers have been caught paying homeless ppl to stand in line to buy gold and silver products at US Mint locations when the Mint states 'only one per customer'.

    so wrong...
    Right now USmint is asking $3170 for UC 2024 1oz Eagle. SDBullion is asking $2515.75 - 2620.57, depending on payment method, for BU (brilliant unc) 2024 1oz eagle.
    If you are buying gold or silver from the mint for the purposes of just having gold or silver, you are paying way too much for it. If you want to be the first person on your block to have a first stike proof coins, then go for it. If you want "proof" coins then maybe the mint is feasible, but if you just want gold, (even unc or BU) don't waste your money with the mint. If you are buying gold to flip it or barter with it, remember, only "collectors" are going to buy your fancy pants proof coin for the premium you paid for it, your local coin dealer or Joe Sixpack isn't.
    Last edited by ray h; July 7th, 2024 at 04:44 PM.
    The Hostler

  7. #17
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    Jan 2011
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by markshere2 View Post
    You will pay a bit more for a piece of smaller than an ounce, but with the price of gold hovering at 2300 an ounce the smaller pieces are easily bartered versus the big ones.

    "If all you have in your wallet is $20 bills, guarantee you that everything out there will cost at least $20"
    100% agree. I've got a couple Valcombi gold Combi bars, they are made specifically to divide into 1/10oz bars, for barter.
    But silver is really for barter. I have mostly 1oz silver and 90% silver, and a few 10oz bars.
    The Hostler

  8. #18
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    Waynesboro, Pennsylvania
    (Franklin County)
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by free View Post
    Because, in America, the AGE is more recognizable and more popular.

    If you live in Canada, then by all means, buy Maples.
    I do like Eagles, and I have a couple of them, but it's hard for me to get past the fact they are only 22Karats verses 24K in most of the other sovereign coins.I do also have a couple Kregerrands (also 22K) that I bought on sale, but it's cool saying "Krugerrand".
    Throughout my "stacking" I've tried to keep it all about the investment and the amount of OZs , but sometimes I'll buy something weird that doesn't make much sense.
    The Hostler

  9. #19
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    Oct 2012
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by ray h View Post
    I do like Eagles, and I have a couple of them, but it's hard for me to get past the fact they are only 22Karats verses 24K in most of the other sovereign coins.I do also have a couple Kregerrands (also 22K) that I bought on sale, but it's cool saying "Krugerrand".
    Throughout my "stacking" I've tried to keep it all about the investment and the amount of OZs , but sometimes I'll buy something weird that doesn't make much sense.
    You get more weight to cover for the less karats so I don't think that will be a problem. I believe in diversity but I'm staying away from bars and foreign currency, at least for now. I have a set of sterling sliver that I want to take down to frank and trade for an assortment of silver coins. When I go is irrelevant since I'm sticking with silver for silver.
    Gender confusion is a mental illness

  10. #20
    Join Date
    Oct 2012
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    Default Re: So I Want to Invest in Gold.....

    Quote Originally Posted by ray h View Post
    I do like Eagles, and I have a couple of them, but it's hard for me to get past the fact they are only 22Karats verses 24K in most of the other sovereign coins.I do also have a couple Kregerrands (also 22K) that I bought on sale, but it's cool saying "Krugerrand".
    Throughout my "stacking" I've tried to keep it all about the investment and the amount of OZs , but sometimes I'll buy something weird that doesn't make much sense.
    You get more weight to cover for the less karats so I don't think that will be a problem. I believe in diversity but I'm staying away from bars and foreign currency, at least for now. I have a set of sterling sliver that I want to take down to frank and trade for an assortment of silver coins. When I go is irrelevant since I'm sticking with silver for silver.
    Gender confusion is a mental illness

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