Physical Gold or Silver Thoughts

[Car-Guy]

Interestingly, some guns I bought 5-8 years ago have doubled in price. Most stuff I buy goes down in value.

Add another 15+ years and some have really gone up. And they don't need to be antiques either. ex, I bought a used 6" Colt Python back in the early 90's for $400... Sold it last year for $4200. It was an early 70's model in near perfect condition with the original box and paper work. Collectors will pay up for up for good stuff like that. Even "some" really cheap "crap" will bring in some nice money. Ex, I bought several "new" SKS's ~20 years go and paid $89 each. Sold a few of them last year (to the same guy) for ~$500 each. As I'm getting older I have realized I need to cut down on my collectables. Still I keep the best stuff that I'm interested in, for now anyway.

And ammo is valuable too. Last year I was offered 5 times or more over what I paid for my stash of 7.62 ammo. Maybe I should have sold it too , since the prices have come down recently.

 

[copyright1997reloaded]

Jerry, the main reason that gold hasn't been the inflation hedge as it was in the past is the strength of the US Dollar. However, the dollar has sunk a bit recently and gold has made small moves upward.

This.
The price of gold in yen is up 18.25% YTD.

 

[Sunset]

This.
The price of gold in yen is up 18.25% YTD.

That's only because the Yen has fallen a lot....

Trick is buy gold and then move to a country where the currency falls a lot and live like a king eating beans

Gold is up ~50% (very rough est) to the Venezuelan Bolívar.

 

[38Chevy454]

This.
The price of gold in yen is up 18.25% YTD.

That's only because the Yen has fallen a lot....

Trick is buy gold and then move to a country where the currency falls a lot and live like a king eating beans

Gold is up ~50% (very rough est) to the Venezuelan Bolívar.

Exactly, as I have said a lot of times, gold is basically a measure of the value of the dollar. I do not invest in or hold any gold or silver.

 

[tmitchell]

According to this calculator, your silver didn't even keep up with inflation.
https://www.bls.gov/data/inflation_calculator.htm

Yep, bad investor!

 

[ncbill]

I used to think it would be good to hold gold. I have a few ounces that I bought a long time ago when gold was around $300/oz. However, now that we’re finally seeing a significant increase in inflation, gold did not seem to track up as I would have expected. If it doesn’t go up with inflation, something has changed. Not sure I’m interested any longer.

Ditto...bought 1 troy ounce gold American Eagles for a little over $300 each back when the UK dumped its gold.

Wish now I had bought 10x what I did.

Wouldn't buy more at today's prices.

 

[OldShooter]

Recency bias aside, IIRC gold and silver have historically been inflation hedges but that's about it. I have no interest in wildly volatile inflation hedges.

RE SHTF, bars of precious metals are not very useful for making small purchases. IF I wanted something to substitute for currency, I would probably look to 9mm, .45ACP, or .223 ammunition. Maybe small silver coins for larger transactions.

But someone known to have valuable assets like precious metals or ammunition is probably very vulnerable to quickly being robbed or killed. Our house designs render us virtually defenseless against a "gang" of even two armed people. If I were worried about SHTF scenarios, that is what I would worry about.

 

[Dream Weaver]

Add another 15+ years and some have really gone up. And they don't need to be antiques either. ex, I bought a used 6" Colt Python back in the early 90's for $400... Sold it last year for $4200. It was an early 70's model in near perfect condition with the original box and paper work. Collectors will pay up for up for good stuff like that. Even "some" really cheap "crap" will bring in some nice money. Ex, I bought several "new" SKS's ~20 years go and paid $89 each. Sold a few of them last year (to the same guy) for ~$500 each. As I'm getting older I have realized I need to cut down on my collectables. Still I keep the best stuff that I'm interested in, for now anyway.

And ammo is valuable too. Last year I was offered 5 times or more over what I paid for my stash of 7.62 ammo. Maybe I should have sold it too , since the prices have come down recently.

Still have my $80 sks. I bought a few like new in box pre-ban Chinese Norinco and Polytech semi-auto AKs that I always wanted in 04 after the assault rifle ban expired (Chinese still banned from import) and a bunch were dumped on the market for a brief period bringing down prices. Those have climbed WAY up in value ever since. Never thought I would ever handle a commie peasant rifle with "kid's gloves" but here we are.

As far as the OP buy a few ounces to scratch the itch and fill a small hole in your portfolio. Just don't put your life savings in anything that doesn't earn it's keep.

 

[RobbieB]

As for gold/silver, I don't view it as an investment or even hedge during zombie times.

No, not for zombies. But when the werewolves come you'll be glad you have silver to cast bullets for their dispatch.

 

[old medic]

No, not for zombies. But when the werewolves come you'll be glad you have silver to cast bullets for their dispatch.

Thanks.... now I need to get a foundry furnace...

 

[ownyourfuture]

I found a couple of 1/2 dollar with Kennedy on them, 1966 & 1969 at the coin machine that refused them.

Now I know they are worth more than 50 cents each

Those Kennedy 1/2 dollars are 40% silver. Back in the early 90s, I found approximately 5$ worth of pre 1965 Washington quarters in the kick out trays at a casino I frequented.

Funny how this subject always drifts to Armageddon. The OP never asked anything about how precious metals would behave in that scenario.

 

[sengsational]

I found a couple of 1/2 dollar with Kennedy on them, 1966 & 1969 at the coin machine that refused them.

Now I know they are worth more than 50 cents each

.

But don't confuse the value of those with 1964 or older... not the same.

 

[JoeWras]

The Kennedy halves 65-69 are a special exception.

To add to the confusion, Canada kind of followed the US, but their silver contents were different pre-65. Still, watch for old Canadian quarters and dimes.

 

[ncbill]

Those Kennedy 1/2 dollars are 40% silver. Back in the early 90s, I found approximately 5$ worth of pre 1965 Washington quarters in the kick out trays at a casino I frequented.

Funny how this subject always drifts to Armageddon. The OP never asked anything about how precious metals would behave in that scenario.

Yeah, especially with my 'war nickels' which since they are only 35% silver don't have that 'silver shine' as do 90% silver dimes/quarters/halves.

Though the 'war nickels' had the lowest premium of any circulated silver coinage ("junk silver") I've bought.

 

[lucky penny]

I liked coin collecting. I also inherited a good bag of pre 64 quarters and dimes. It was all just too much. Just recently sold it all except for a few special coins. The remainder are not investments, more sentiment. I put the proceeds into a T-Bill.

Years ago i accumulated some of these, along with a bag of wheat pennies & a few coins I bought (Carson City silver dollars). Not much altogether & probably not worth much, but now I just want to simplify -- want to sell everything. What's the best way to do that?

 

[sengsational]

Years ago i accumulated some of these, along with a bag of wheat pennies & a few coins I bought (Carson City silver dollars). Not much altogether & probably not worth much, but now I just want to simplify -- want to sell everything. What's the best way to do that?

Probably the simplest would be to go to a coin show and walk around and try to get offers from dealers. I can't imagine they'd give you much. Alternatively, I've seen people take a picture of a pile of wheat pennies and put it on eBay (I'd bet they strategically placed one or two coins that might fetch more than the run of the mill penny of that era). Again, I can't imagine you'd get much. I'm also interested in the answer to this, because I'm in the same boat with stuff that, if I don't get rid of it now, will probably get taken to the bank (if that), when I'm gone.

 

[JoeWras]

Wheat pennies go to the great nieces and nephews, along with a few Eisenhowers for wow factor. The other Ike's are tip money. Quarters, dimes and halves are sorted. I only had less than 5 interesting ones, and saved them as memories. I sold the bulk to a local dealer who gave a fair price based on silver value that day. Any further squeezing on the deal would have netted me less than $40, not worth it. It was convenient and I liked working with the dealer. I didn't want to mess with a coin show. Proceeds are now in a Tbills.

If I had rare collectibles, a lot of Morgans or gold, I'd proceed more carefully.

I also (mostly) filled in a "year book" from 1946 to 1959. I will gift these some day.

If I were robbed of what remains, it wouldn't be a disaster. This is simplification.

 

[old medic]

Though the 'war nickels' had the lowest premium of any circulated silver coinage ("junk silver") I've bought.

And its amazing how many of those are still in circulation... I find several a year.

 

[JoeWras]

And its amazing how many of those are still in circulation... I find several a year.

These have the big "P", right?

 

[Car-Guy]

Years ago i accumulated some of these, along with a bag of wheat pennies & a few coins I bought (Carson City silver dollars). Not much altogether & probably not worth much, but now I just want to simplify -- want to sell everything. What's the best way to do that?

Again, IMO, a coin show is the best place to shop and sell your coins.... Very few Wheat cents are worth much of anything. You may be able to get 2 or 3 cents each... The notable exception is a 1909-S vdb.... Even in well worn condition those are worth several hundred dollars and for MS (mint state), that coin may get $2,000+. A few others dates/mint marks have a much smaller value but 98% are almost worthless. Note, good luck finding 1909-S vdb... Pretty dang rare... And I doubt that anyone has one in their "penny jar" that is in mint state.

All Carson City Morgans have some value above what you could get for "melt value". How much greatly depends on dates, condition and mint marks. If you PM me with the dates, mint marks and "your opinion of condition", I'll tell you what the approximate values are.

Note, for higher value coins (let's say over $500) you really need to get them graded and certified by either PCGS or NGC before trying to sell them.

 

[JoeWras]

I think if you are an Ebay enthusiast, that's a great way to make money. I see some of the prices and they are premium. But perhaps someone will bite, and there you go, you make some money. Guaranty a few Indian heads along with the wheats. Make it fun for someone.

I don't like advertising what I'm doing and hence didn't try it. It is also time consuming. To each their own.

 

[ownyourfuture]

Years ago i accumulated some of these, along with a bag of wheat pennies & a few coins I bought (Carson City silver dollars). Not much altogether & probably not worth much, but now I just want to simplify -- want to sell everything. What's the best way to do that?

If it was 2012 instead of 2022, I'd recommend selling them on eBay.
Both the eBay fees and Paypal (which I'm guessing is used on 95 % of transactions) have gone up drastically. Plus, starting this year, if you sell over $600 on eBay, the IRS gets involved. Would love to say more but I can't because it would be political.

So I'd have to agree with the others who recommended going to a coin show, or a coin dealer.

 

[TDB622]

People should look at gold and silver as insurance vs. anything else unless you just like collecting. They will always hold a value and be tradeable. This talk about you can't eat precious metals is nonsense.
Ask a person in Venezuela or other such country if for example they would have liked to have $10,000 worth of silver on hand when their runaway inflation occurred and practically overnight they had no money for food. You cant eat worthless paper either... This can happen to any country so don't kid yourself.

 

[Car-Guy]

People should look at gold and silver as insurance vs. anything else unless you just like collecting. They will always hold a value and be tradeable. This talk about you can't eat precious metals is nonsense.
Ask a person in Venezuela or other such country if for example they would have liked to have $10,000 worth of silver on hand when their runaway inflation occurred and practically overnight they had no money for food. You cant eat worthless paper either... This can happen to any country so don't kid yourself.

I agree with everything you are saying, particularity the text I bolded, but from someone that was buying gold for under $300oz and silver for under $5oz (just ~20yrs ago ) the prices today scare me.

 

[TDB622]

I agree with everything you are saying, particularity the text I bolded, but from someone that was buying gold for under $300oz and silver for under $5oz (just ~20yrs ago ) the prices today scare me.

When I purchased my house it was under $300,000 in the early 2000's, its now worth $1.3M. That is pretty scary too.