$100,000

[Pastiche]

There's a bunch of good gold ETFs to buy if you want something a little more liquid than gold ore.

[Pastiche]

BTW climate change will affect oil prices way more than peak oil ever will.

[moncton golden flames]

Originally Posted by VladtheImpaler

I am curious, where do you buy your silver? Do you keep it at home in a safe?

because i buy in relative low quantity, i buy from 'albern coin shop' on centre st and 16th ave north. yes, there is a premium when going thru guys like this, but i don't know where else to buy smaller chunks of silver.

i do not keep my collection in a bank. my rule is, if i can't touch it whenever i want, i don't really own it. so i keep it scattered around the house, garage and yard.....diversify!

[VladtheImpaler]

Originally Posted by moncton golden flames

because i buy in relative low quantity, i buy from 'albern coin shop' on centre st and 16th ave north. yes, there is a premium when going thru guys like this, but i don't know where else to buy smaller chunks of silver.

i do not keep my collection in a bank. my rule is, if i can't touch it whenever i want, i don't really own it. so i keep it scattered around the house, garage and yard.....diversify!

What's their premium?

[moncton golden flames]

Originally Posted by Pastiche

There's a bunch of good gold ETFs to buy if you want something a little more liquid than gold ore.

and are these etf's actually holding physical gold? do they hold a 1:1 ratio of physical gold to traded etf gold, or do they trade in 'theoretical gold'?

[moncton golden flames]

Originally Posted by Pastiche

BTW climate change will affect oil prices way more than peak oil ever will.

could you elaborate?

[moncton golden flames]

right now, on a 1oz silver maple leaf, they are charging $22.71 for a spot price of $19.57 (roughly 15%)

[Pastiche]

Originally Posted by moncton golden flames

and are these etf's actually holding physical gold? do they hold a 1:1 ratio of physical gold to traded etf gold, or do they trade in 'theoretical gold'?

There's a couple different types. I'm not an expert on them so I would recommend you do your own research. Some gold etfs are based on gold futures contracts, others are based on gold inventories.

I guess the question to ask yourself is what good is having a gold brick if you can't sell it? The gold ETF may be riskier if you're ultra conservative but at least you can liquidate it in a matter of minutes.

Say you needed cash straight up where would you go to sell your gold brick?

[moncton golden flames]

Originally Posted by Pastiche

There's a couple different types. I'm not an expert on them so I would recommend you do your own research. Some gold etfs are based on gold futures contracts, others are based on gold inventories.

I guess the question to ask yourself is what good is having a gold brick if you can't sell it? The gold ETF may be riskier if you're ultra conservative but at least you can liquidate it in a matter of minutes.

Say you needed cash straight up where would you go to sell your gold brick?

i'm going on the premise that if i need my gold or silver it's because fiat currency is worthless. so i buy 1oz coins mostly, with some larger bullion bars for longer term.

[Phaneuf3]

Originally Posted by Pastiche

Say you needed cash straight up where would you go to sell your gold brick?

[GreenLantern]

Donate it to CPuck.

We could get our own personalized jersies!

[jeremywilhelm]

Originally Posted by moncton golden flames

sure, some people are doom and glooming. am i completely on that boat? no. but i do feel like we are in for much worse times than we are good times. rising interest rates to curb huge currency inflation from all the bailouts (printing of money with nothing of value to back it), dwindling cheap oil supplies all over the world.

i'm looking at 5-20 years down the road stuff here. all long term stuff...the short term is too unpredictable.

Well then what your doing is probably pretty solid.

For anyone else buying gold, it is actually best, if you are buy large quantities, to make sure you have the gold in your possesion. If you are buying quantities to secure your future, might as well get yourself a real safe as well. No telling what a lockbox company or bank will do with your gold in the event of a catastrophic economic failure.

Thats just the doom and gloom scenario.

[moncton golden flames]

Originally Posted by jeremywilhelm

Well then what your doing is probably pretty solid.

For anyone else buying gold, it is actually best, if you are buy large quantities, to make sure you have the gold in your possesion. If you are buying quantities to secure your future, might as well get yourself a real safe as well. No telling what a lockbox company or bank will do with your gold in the event of a catastrophic economic failure.

Thats just the doom and gloom scenario.

completely agree. obviously, larger quantity means better margins and 'cheaper' metals.

i forgot to answer a previous question of yours. i design and draft houses for a living (see sig). so i have no expertise in this field of wealth preservation. just a guy who sees bad things coming and wants to be the one who is ready to support my family when they need it.

[Slava]

I don't want to argue this with you, but just wondering how this goes if you're right. So lets say that things get horrific (I think that is the best description here) and currencies are worthless. Basically the globe faces economic ruin. So from that standpoint (makes no difference how we arrive here, lets just agree that we do somehow). What do you do with the gold/silver that you have accumulated at that point?

I'm just curious as I actually have no idea. I guess it kind of strikes me as a scenario where the guys with the guns and less value for human life come along and run the show for a while, but I really have no idea.

[IliketoPuck]

So what you're really saying Slava is that I should invest in an up and coming arms manufacturer, and be at the head of the new wave government when skynet takes over?

[Pastiche]

Originally Posted by moncton golden flames

could you elaborate?

Well supply shocks from climate change will be much more acute than supply shocks from peak production. There are still massive amounts of fossil fuel resources in the world. If conventional reserves deplete we will go for non-conventional ones. Peak oil assumes that prices will run away and never come back. But never underestimate the power of price signals. If a $5/l of gas is considered to be relatively stable then a whole bunch of gas production methods become economically viable. Once those come online the price will stabilize to new supply and prices will stop running away. Without runaway prices peak oil armageddon mongers are without a believable premise.

Now, climate change on the other hand is real and happening. If climate starts to runaway then we will see policy-induced supply shortages of fossil fuels which will drive their prices up enormously. The difference here is that the supply of fossil fuels left to burnt to affect runaway climate is much smaller to the known reserves and resources of fossil fuels.

[VladtheImpaler]

Originally Posted by Slava

I don't want to argue this with you, but just wondering how this goes if you're right. So lets say that things get horrific (I think that is the best description here) and currencies are worthless. Basically the globe faces economic ruin. So from that standpoint (makes no difference how we arrive here, lets just agree that we do somehow). What do you do with the gold/silver that you have accumulated at that point?

I'm just curious as I actually have no idea. I guess it kind of strikes me as a scenario where the guys with the guns and less value for human life come along and run the show for a while, but I really have no idea.

I guess the theory is if the paper currency is worthless (a la Deutchmark during Weimar), we revert to gold & silver as currency. Or, when the price of silver sky-rockets to $150,000/ounce when the currency devalues, you will be able to pay off your mortgage with a silver coin.

[Slava]

Originally Posted by IliketoPuck

So what you're really saying Slava is that I should invest in an up and coming arms manufacturer, and be at the head of the new wave government when skynet takes over?

I suppose so! Or a guy like me should at least take some kind of firearms training to hedge against my long-term optimistic tendencies. I don't know that this is how things playout, I've just always been curious, thats all.

[Slava]

Originally Posted by VladtheImpaler

I guess the theory is if the paper currency is worthless (a la Deutchmark during Weimar), we revert to gold & silver as currency. Or, when the price of silver sky-rockets to $150,000/ounce when the currency devalues, you will be able to pay off your mortgage with a silver coin.

But how do you rectify that stance with currencies that are on the gold standard? Part of the (gold = amazing returns) argument is a return to the gold standard for some of the major currencies. In that event doesn't the holding of the currency basically equal the holding of gold?

Perhaps I'm not smart enough to even understand how this could go. I have to say that I find it incredibly confusing, and it feels like discussing quantum mechanics or something equally as imperceivable to me!

[IliketoPuck]

I personally don't see an economic armageddon in my lifetime. Maybe I'm wrong and will end up destitute.

If I had 100 grand, it would be invested in real estate to build up my personal wealth.