How much gold and silver do I need?

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hucklejohn's picture
hucklejohn
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How much gold and silver do I need?

I understand the need for holding some gold and silver as a store of value in case of a currency collapse.  I also understand the need to hold some gold and silver bullion coins in divisible and spendable form to purchase items during the time period from the collapse of the old currency until the establishment of a new currency.  This latter need is my focus here.  Examples of such coins would be junk silver and divisible ounzes of gold American eagles.  I am not sure what quantity of coins one should have on hand.  I suppose it depends upon one's assessment of how much delay (who knows?) there will be until the establishment of the replacement currency as well as one's own personal preference.  I believe one should have at least three months of food and necessities on hand in case of economic collapse or other emergency.  But how much gold & silver?  Any thoughts, ideas or suggestions?    

Johnny Oxygen's picture
Johnny Oxygen
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Re: How much gold and silver do I need?

This is my opinion. You ONLY want physical gold and silver, no paper promises.

Try to buy it in 1 troy ounce denomonations with a .999 purity.

IMO silver will yield a higher return because the gold/silver ratio traditionally has been 1:15 so with gold around $1100 an ounce now silver should be $73 an ounce but right now it is about $17.30. Also 1 oz. of silver will be easier to trade in day to day trading and buying then trying to get change for 1 oz. of gold.

Stocking up for a few months of emergency is fine but just remember if you have a 3 months supply what do you do on the 4th month?

Once this fiat currency collapses it will take at the very least a generation before people will trust any new fiat again. I would count on using gold and silver over any fiat for a very long time to come.

How much? As much as you can and in my opinion buy it at any price and keep buying it. Its a finite resource and once its been bought up the price will go to the stratosphere.

suesullivan's picture
suesullivan
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Re: How much gold and silver do I need?

The thing that keeps me from buying silver is the sheer weight of it. I've looked at Tulving and like their prices, but how much does it cost to ship 60-90 pounds of silver? And storage becomes another issue entirely as well. Gold, though it may be overvalued relative to silver, is  much easier/cheaper to ship and store. These concerns have paralyzed me for several months now, as I consider another PM purchase....

Doug's picture
Doug
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Re: How much gold and silver do I need?

The notion I operate with is that bags of 90% silver coins (pre '65) will probably be the most useful after tshtf.  They are recognizable by everyone, small denominations and I suspect values will be attached to them rather quickly after a fiat collapse.  Maybe a quarter for a 6 pack. Wink

Also, some 1oz coins, silver and gold, as Johnny suggested.  As far as how much, any amount would be speculative.  We have no idea how much pm's will be worth in that environment.  Whatever you feel comfortable having within easy reach.

Doug

hucklejohn's picture
hucklejohn
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Posts: 281
Re: How much gold and silver do I need?

Thanks for all your comments.  I am inclined to secure more junk silver, some silver rounds and some fractional gold American eagles.

Marykay's picture
Marykay
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Re: How much gold and silver do I need?

Johnny O2 you are exactly right! Esp. that you said buy all that you can. I heard on a NIA, National Inflation Assoc. youtube video that a family of four would need approx. 39  1oz. silver rounds for a month's supply of food. I believe this to be fairly accurate as accurate as one can be considering we are blind to some variables. I would guess to have house taxes and insurance paid you would need approx. 105-125 silver one oz. rounds.

I would imagine a family of four migt get by on 130 oz. of silver a month, $3250.00 in today's dollars.

What do you think Johnny?

In Yeshua,

Mary Kay 

TNdancer's picture
TNdancer
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Posts: 127
Re: How much gold and silver do I need?
suesullivan wrote:

The thing that keeps me from buying silver is the sheer weight of it. I've looked at Tulving and like their prices, but how much does it cost to ship 60-90 pounds of silver? And storage becomes another issue entirely as well. Gold, though it may be overvalued relative to silver, is  much easier/cheaper to ship and store. These concerns have paralyzed me for several months now, as I consider another PM purchase....

Tulving packs it in nice plastic bucket and ships UPS....shipping included on his end, I'm sure it isn't bad.

Same bucket stores real nice too....just stick it out in the garage with your old paint cans, slop a little paint on it, and nobody even notices they are walking by a 20,000 FRN bucket....ahahahaaa

TNdancer's picture
TNdancer
Status: Silver Member (Offline)
Joined: Aug 20 2008
Posts: 127
Re: How much gold and silver do I need?
Marykay wrote:

Johnny O2 you are exactly right! Esp. that you said buy all that you can. I heard on a NIA, National Inflation Assoc. youtube video that a family of four would need approx. 39  1oz. silver rounds for a month's supply of food. I believe this to be fairly accurate as accurate as one can be considering we are blind to some variables. I would guess to have house taxes and insurance paid you would need approx. 105-125 silver one oz. rounds.

I would imagine a family of four migt get by on 130 oz. of silver a month, $3250.00 in today's dollars.

What do you think Johnny?

In Yeshua,

Mary Kay 

 

If I may, I think you will be well served by those figures....most likely suprised by how conservative they are if anything.

Silver prices have been manipulated to the low side for many years by a couple of large banks ( shorting paper silver ) for the benefit of the Silver Users Association members ( Dupont, Kodak, et al ).   The light is now being shined on that bunch of cockroaches and they are beginning to run for cover...the covering in this case being having to buy silver to cover their short positions.  Once they fully unwind, and stop this manipulation, silver will rise to it's REAL market value, which is likely 2-3 times today's price.  Add in the fact China is opening ecouraging their folks to buy metals for savings, the need of industrial use in the entire developing 3rh world, and silver's future looks VERY shinny indeed.  I would not be the least bit amazed to see it over 100/oz in the next few years, in current dollar terms.  

I believe in silver enough that I cashed in my IRA, paid the tax/penalty, and went all in at silver 5-6 bucks, and DOW 11,000 several years back.  Well, silver is now upper 20's and the DOW is the same.   Silver has been a 4.5x return for me, whereas my former mutual funds have barely stayed even.

earthwise's picture
earthwise
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Re: How much gold and silver do I need?

 

I would agree with the others here that PMs (particularly silver at this point) would be a good move to make. But if your intent is to preserve purchasing power for food, why not first stock and store food now while it's cheap (relatively) then buy the silver after? That way you improve your odds of having food and the silver too!

Tycer's picture
Tycer
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Joined: Apr 26 2009
Posts: 610
Re: How much gold and silver do I need?
earthwise wrote:

 

I would agree with the others here that PMs (particularly silver at this point) would be a good move to make. But if your intent is to preserve purchasing power for food, why not first stock and store food now while it's cheap (relatively) then buy the silver after? That way you improve your odds of having food and the silver too!

Amen

charlesbailey98's picture
charlesbailey98
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Posts: 3
Interesting thread… I’ve been

Interesting thread… I’ve been considering investing in gold for the same reasons as hucklejohn mentioned. I am wondering what percentage of my total savings I should invest. From what I’ve been reading (https://www.hardassetsalliance.com/blog/why-is-gold-valuable-the-5-reaso...) it appears that gold has and will continue to remain valuable over time, but my concern is that my money will just be sitting there and there’s no opportunity for growth, therefore I’d like to invest a percentage into gold and the rest into something perhaps a little more risky that may have greater results. Any opinions on this or suggestions for what percentage to invest in gold? Thanks! 

Baby123's picture
Baby123
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Joined: Nov 1 2015
Posts: 1
Really some 1oz coins, silver

Really some 1oz coins, silver and gold, as Johnny suggested.  As far as how much, any amount would be speculative.

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