Precious Metals

[DrPrepper]

Uncle Sam might have a difficult time finding mine. I gave all of mine away as Christmas gifts. Also gave some to charity...... Plus, my memory isn't very good....I just don't remember what I did with the rest of it. Gosh, if I do get more, I'll have to be more careful about remembering where I put it.

Just don't put it all in the canoe out on the river, or it might wind up in the same place as all the guns.........

 

[joel]

You also have to consider they confiscated all precious metals during Great Depression too. So basically many who bought PM just saved it for the gov.

Precious metal is like firearms.
Leave out a few for them to find & bury the rest deep.

 

[Meerkat]

Precious metal is like firearms.
Leave out a few for them to find & bury the rest deep.

:thumbs up:

 

[angie_nrs]

Just don't put it all in the canoe out on the river, or it might wind up in the same place as all the guns.........

What guns????

Besides, we can't find the canoe. Had to go and get a kayak......

 

[Tacitus]

I see some familiar people here. Hello!

I think diversity is good for investments and for wealth preservation and for prepping. PMs are just one aspect of each. So, I buy PMs. That is, I save discretionary funds for eventual periodic transfer into equivalently valued PMs. At least that small part of my savings will be free of inflation risk.

As far as government confiscation in the US...it happened in the 1930's when the US was on a gold standard. The federal government not only needed gold to back its currency, but they also needed the currency to move for the economy, and if citizens were hoarding their official gold currency coins, then the economy would be much harder to kickstart. Thus, the confiscation. But now, the government no longer makes its currency out of gold or silver, or even bothers to back its currency with gold or silver. They never confiscated silver, and I think the reasons for confiscation of gold are no longer applicable today. If confiscation happens again, then they will be taking more than gold from you. So, I'm not sure it is something to worry about today.

 

[joel]

Tacitus< welcome, glad you made it over here.
Diversity is the only way to go.
Up until a few years ago I would say land was one of the few thing that could not be confiscated, but we know that is not true.
Still a few acres of land manged correctly can be a good retirement for anyone.
You can get water,fruit, meat, energy, fuel & about $25-$40,000.00 a year off 3- 5 acres.
I have heard of persons doing it on less.
The best way to live after retirement is to cut expenses, health care is the big cost, then taxes & everyday needs.
Diversity covers all this in one swoop.
Land
PM
cuting cost by doing it yourself.
A small home business as a tax shelter, with a little income is great.

 

[angie_nrs]

Just a heads up (thanks to Hiwall on another thread) that silver is at an even better price than when I started this thread.
https://www.apmex.com/product/83620/1-oz-silver-round-apmex-rmc-9999-fine-co-branded

It's just a basic Apmex round for $15.68 in quantities 500+.
I like to post the prices so that when I come back to this thread I can determine what it was at a specific time.

If you have some extra cash, maybe now's not a bad time to buy from your favorite seller?

 

[bkt]

At the moment, current gold:silver ratio is 1:80 where historically it has been 1:16 or thereabouts. Gold's price is not inflated. Silver's price is wildly suppressed and it can't stay that way. It's a great time to buy!

 

[hiwall]

Wow silver is down to $14.09.
Silver Eagles can be bought for $17 each with free shipping.

 

[joel]

$14.16 per ounce
https://www.apmex.com/spotprices/silver-prices

 

[The Lazy L]

well my memory is not what it use to be either.

Well...they say when you get old your memory is the second thing you lose.

I'm not into PMs but when I can purchase silver for below $20 an ounce I try to buy a few.

 

[angie_nrs]

$14.99 at Apmex right now, which is .79 over spot. Wow!!

 

[Weedygarden]

Not trying to blow opsec, but where is a good place to store precious metals?

 

[joel]

If you own the land in a stainless steel box, poured concrete over it.
You know like John Wick.

 

[Weedygarden]

In my home county, there was a married couple who never had children. The husband had buried money, in the 30's. Then he died and his wife had no idea where the money was buried. In comparison to now, the face value may not be much, but there may be value in the metal in old coins.

I have thought about the idea of burying it, burying many things. How do you keep others informed, and yet have opsec? For me, it would be my daughter, but if something happens to both of us, then it is pretty much lost forever.

 

[Terri9630]

Not trying to blow opsec, but where is a good place to store precious metals?

My safe..

 

[hiwall]

Not trying to blow opsec, but where is a good place to store precious metals?

It's not all that difficult to make a secret compartment in different spots in an average home to hide things. Especially small spots that could hold PM's. Just do a search for "home secret compartments".

 

[angie_nrs]

Not trying to blow opsec, but where is a good place to store precious metals?

Get creative. Sometimes it's best to store things of value among things that don't have much value. Kinda like hidden in plain sight. My grandmother stored her spare cash in an old flour tin she had in the kitchen. They didn't have money for a safe, so they improvised.

Whatever you do, don't store it all in one place. I never store all my eggs in one basket, but I keep a list of where I store it in a place nobody would likely look. The family might eventually find it someday..... However, I'm not sure it would really be worth their time. I think maybe they'd better keep their day jobs.

 

[Terri9630]

My grandpa used to use an "extra" old hollow door that he kept in a storage shed. There was a hole in it and he'd just drop a bit of money into it every now and then. Grand mother used a hole in the wall that was behind her old sewing machine cabinet. They used that money to pay for their 50th wedding anniversary trip to Hawaii.

 

[The Lazy L]

Not trying to blow opsec, but where is a good place to store precious metals?

Don't put all of your eggs in one basket.


Buried in the backyard. Triangulate the location between two trees. Now was that 20 feet from tree "A" and 40 feet from tree "B" or the other way around?

Garage with a dry-well for the drain? Install a side pipe for "drainage" and store PMs in there.

Backside of a family cemetery headstone?

Bank safe deposit box? First place the Feds would look.

Attic under the insulation? Be a bit hard to find after a house fire.

Septic tank? Just make sure it's removed before the tank is pumped.

On someones else's property, without their knowledge and can't be traced back to you? Makes retrieval a bit of a problem.

In a paint can on the shelves with all of the other old rusty paint cans that your children get to dispose of when they put you in the nursing home.

And don't forget to put to writing where all of your PMs "Hidey-holes" are encase your memory goes or for your children. Now where would be a safe place to hide the list...

 

[Weedygarden]

Now where would be a safe place to hide the list...

Yes! Then we won't end up with missing stuff that the family cannot find after we are gone.

My first thought is in the family bible, if you have one. I have several that are not used for recording family history, so not family bibles, but there are people who do have those. I have thought about carving a book safe out of a bible or other book.

In your preparedness notebook?

I like the idea of hiding it in places that people don't think of. I had a neighbor who used to stash $100 bills, but I am not sure where. His home was broken into and that money was taken. He thought they were pretty well hidden. He told me he then hid more in a place no one would want to look. Where would that be? In your sewer line? In your compost bin? Under the seat in your outhouse if you have one. Behind the refrigerator, stove or other appliance?

I know there are lots of ideas. In the Color Purple, we saw that the husband hid things under the floor boards.

 

[hiwall]

Now where would be a safe place to hide the list...

The list should never be hidden at the same location as the items. The list should be with a trusted friend, a trusted family member, or anyplace other than where the secret items are hidden.

 

[Meerkat]

I'm not saving up any metals for them to come and take. They are already too rich as it is.

We use to have dimes made of silver and now they are as worthless as the paper IOUs they keep printing up. I don't trust em.

 

[joel]

With land, water, timber, scrap metal & house.
Hiding some silver & Gold should be okay.
I would leave a list for each person in a email account.
The name & password will be left in a letter to be passed to them at the reading of the will.
No other person will know what the words mean, only the person who got the letter.

 

[angie_nrs]

You can always write your note (and make more than one copy if you choose) in language only you and your family understand. I do this for my password sheet, of which I also keep a copy in the fireproof safe. For my Ebay account, my password might be something like sons first Car#?, which means the password would be "Fusion#?". I keep a copy of my passwords in a fire proof safe with my other documents. You could use that same type of idea when hiding your stuff as well.

Most thieves won't bother to go looking through paperwork, but some will. I figure that even if they take the time to try and find my notes, they still won't be able to figure out what they mean.....unless you are getting robbed by a close family member. My suggestion would be NOT to let anyone know about your hidden assets or passwords unless you fully trust them 100%.

 

[joel]

This is why my last post is full of whole!
You need to make up your own code & code of conduct.
Something you would never post on line.

 

[Just Cliff]

Not trying to blow opsec, but where is a good place to store precious metals?

Make decorative stepping stones for a walkway or a small area outside.

 

[Just Cliff]

And then there is trying to trade with your PM's. I believe around here, I would be looked at like a 5 eyed goat if I tried to buy something with silver or gold during a depression.

 

[Weedygarden]

And then there is trying to trade with your PM's. I believe around here, I would be looked at like a 5 eyed goat if I tried to buy something with silver or gold during a depression.

I have thought about this before! If you live in a place where there are places where you can trade in metals, that would be one thing, but try buying a tank of gas, a night at a motel, or something else that would be essential, good luck with that.

On the other hand, the day may come when a loaf of bread, a sandwich, a bowl of soup may get you something in trade. You may not be able to pay your taxes or other bill, but you can barter until you might have the right thing.

 

[angie_nrs]

And then there is trying to trade with your PM's. I believe around here, I would be looked at like a 5 eyed goat if I tried to buy something with silver or gold during a depression.

For me, PM's are just another level of security. I don't have much, but it's better than nothing. I've never tried to cash it in, but history has demonstrated that PM's will be more valuable than paper if the dollar collapses. Just ask those in Venezuela if they'd rather have their currency or silver right now.

If you have PM's and you or your family want to cash them out, I know that APMEX will buy back their silver at current market prices. I would imagine other sellers do too. I've never done it before so I don't know all the details, but I'm sure it's a fairly easy process. You could also take it to pawn shops and some jewelry stores if you wanted to sell it locally.