This always amuses me, people buy gold, silver, whatever and think they will be just fine when society breaks down. Good luck, I'm with 33 you invest in brass and lead.
What cracks me up are those that buy 100 oz bars of silver or even 1 oz bars of gold.
They aren't very feasible. Right now gold is at $1300. What happens if it rises to $5,000?
What happens when silver goes to $1,000 oz. Good luck using your 100 oz bar to acquire goods and services. Good luck getting a coin dealer to redeem it for value either. That's a $100,000 transaction he's going to have to make. You think he'll have that kind of cash lying around? He'll have to get a bank loan. Good luck if the financial system has broken down. further more, by making a transaction over $20K, you'll be looking a full government disclosure as well. you want the government in your business?
The same goes for numismatic 1 oz coins as well. I have no desire to pay a premium for a coin that has an eagle, maple leaf, lady liberty or a cute little panda on it, 'cause in the end, if the poop hits the fan, it may be worth only the printed value on the coin ($50) at worse and only legal tender in the country of origin, or worth only the weight of the gold at best.
Me personally, ...I prefer gold in 1 gram or 0.5 gram kinebars. Those are practical and easily attainable.
You might have to pay a premium for the smaller quantity and stack alot of them, ...but it's far more practical not to mention portable than shaving off a portion of a bar. that's apremium worth paying, and unlike regular bullion subject to shaving or salting, and a loss of value once it leaves the vault, kinebars retain value even out of the vault. I'd much rather carry a small ingot to buy goods & services rather than roll a wheel barrow full of worthless fiat currency.
Did you know that if you had $100,000 deposited in the bank in 2000, ...do you know you would have lost 17% to inflation alone? You'd have the value of only $83,000 today
Yet if you had stored that same $100,000 into gold bullion in 2000, it would be worth $398,000 today.
That's wealth preservation as stored retained value. And there'd be no capital gains tax until and unless it is exchanged back into fiat currency, ...and there's no saying you have to do it all at once... little increments can do just fine. That's why I prefer 1 gram & 0.5 gram kinebars.
'cause it's not how much you make, ...it's how much you keep.
