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The Economic Depression has just hit...but you have gold, now what?

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posted on Sep, 18 2007 @ 09:07 PM
First I thought about buying gold and silver, but now I'm more about supplies. It's good if you have gold, but myself I wouldn't sell my food for gold, because I wouldn't know when I'll be able to sell the gold, but I want all the food I need. Also, ammunition, seeds, books... I would suggest to buy things you can use and eat instead of gold. If you have everything you need in supplies then you can buy silver coins... at least it won't be subject to government grab.

posted on Sep, 18 2007 @ 09:09 PM
ok looks like im buying a safe and putting nothing but gold on it. however, it loses value quick.


posted on Oct, 14 2007 @ 12:01 PM

Originally posted by crgintx
... Believe or not, even real copper pennies are more than double their face value in melt value.

Do a search on coin values. Always check your quarters and dimes for pre -1964 coins. They're real silver.

I recently started doing this and so far I've found a few silver quarters and a pile of copper pennies. Here's an overview of the 10 most valuable US coins in circulation:

posted on Oct, 14 2007 @ 06:39 PM
Now we're talking prices -- this is more like it for a thread w/ GOLD as
the topic. At around 800$ an oz currently, those w/ saved wealth SHOULD
invest in it -- you can and would be able to trade for needs in the time of
depression, silver is the cheaper way to go, pre-70s. But, adjusted for inflation, gold is still WAY under it's record, I forget what, it was in the $2-4,000 an oz range. That's a lot of money not the average person can afford.

posted on Oct, 14 2007 @ 10:30 PM

Originally posted by crgintx

Do a search on coin values. Always check your quarters and dimes for pre -1964 coins. They're real silver.

Is there any other foreign coin that is real silver or a valuable metal?

[edit on 14-10-2007 by Amelie]

posted on Oct, 15 2007 @ 09:26 PM
The gubment may try to confiscate your gold like they did in the 30's under Roosevelt. However, only something like 25% actually got turned in. Some estimates put paper money at $80,000 per ounce of gold in government hands today.

So be aware that the potential for gold is astronomical. Therefore, they may try unconstitutional moves like this again, making it illegal to own gold. I only hope that our constitution can be refounded. This could be a catalyst.

posted on Oct, 16 2007 @ 10:37 AM
reply to post by Amelie

They are many other nations that used silver in coins. Both Canada and Mexico did. Just type silver coins on any search engine. But why buy foreign silver when US silver is so accessible?

posted on Nov, 28 2007 @ 08:59 PM
reply to post by Amelie

There are all kinds of silver coins minted in foreign countries, but your best bet is to purchase silver or gold in measured plaques. They are small rectangles of metal with the weight, metal type and purity stamped on them. You can get them in weights from 1/4 to 1 ounce and in larger sizes up to one pound.
They are more reputable and reliable than trying to deal in coins, because some coins are worth more than the silver content. As well, you can't be certain of what the silver content is, what the alloying metal is and in some cases if the coin is really what the dealer says it is.
Another good investment would be in silver items. Not jewelry, but useful things that can be traded off at more than the value of the silver it is made of. Things like silver hairbrush and mirror sets, tea services, cigarette cases etc.

posted on Nov, 29 2007 @ 05:34 AM
reply to post by Vitchilo

on the one hand, you are worrying about where to sell your gold or silver, on the other, you're worried about the powers that be wanting it so badly that the gov't will come and take it....

I believe during the last time they went around taking the gold and silver, they did pay the people something in return, didn't they. maybe not the full value but they did pay something?

as far as weather to put your investment into gold, or into supplies, I guess that would depend on how secure you are in your home..

if you were uprooted because of foreclosure, natural disaster, or war, or whatever, and could only take what you could carry, could you carry all of those supplies?
one once of silver, at today's prices, could take care of my absolute necessities for a day...and it weighs far less than the necessities would..
and I live in the city, if anything were to happen, well, this place would be a madhouse, I would be running for the mountains.

posted on Nov, 29 2007 @ 06:30 AM
if a depression and hyper inflation has happened in your scenario,

then everyone, anyone, even suspected of having a sizeable stash of gold
(coin, 24K jewlery, mini-ingots, even gold nuggets ot gold teeth)
have become moving targets for the predatory persons in the world,

If the collapse/depression becomes a reality, then one should expect that condition to last for up to a decade before one could openly trade
or exchange that horde of gold for something useful to rebuild ones
life with... (like say land...)

the choice is yours, horde a stash of gold but expect to hire several armed bodyguards, to protect oneself from the masses and from a rogue bodyguard who has their own designs on your wealth. Or become
another of the great unwashed, migrating from one shanty town to another
relying on the goodwill of others in sharing the sparse food & resources
with the community or relying on one's wit, wisdom and fleet feet for gain
and survival.

on the lead up to this hypothetical depression, if one has gold & PM stocks,
one should be ready to unload at least 1/2 of one's position in 24 hours
... because for the next 3 years i and others that i read daily, expect gold
to continue its exponential growth... the newest reason is because the
bankers & investment banks are playing gold positions to constantly
take profits and hedge so as to make themselves liquid
(have enough cash) and to keep liquidity (trading markets able to handle large transactions) so that their funds & assets are sufficient to avoid
'Insolvency' and total financial ruin.
......but somewhere in this 3(+) year window, even gold (both stocks & physical metal) will collapse in value... take care

posted on Dec, 2 2007 @ 01:23 PM
Just an idea but would it be worth having fake gold? for instance how many people actually know the difference between real gold and the gold you see in movies (i.e. the stuff which never weighs anything). If a situation X happened it might be worth having fake gold as currency, particuarly as it would be cheaper to get now. And chances are would be as useful as real gold during the aftermath of a situation x.

posted on Dec, 2 2007 @ 02:32 PM
Stockpile food and water. Non-perishable, canned, etc.

Lots of it.

And guns to defend against the gestapo trying to confiscate it for their armies.

I am not a licensed survival professional, and this should not be taken as expert advice.

posted on Dec, 10 2007 @ 07:52 AM
I am all for owning gold. I positioned myself almost completely in it two years ago. However, the main point of gold is to preserve wealth THROUGH an economic crisis. I think the value of gold to preserve your life through hard times is minimal. When society breaks down the people who go around offering gold and silver to everyone to buy cans of beans are going to become favored targets.

My advice is to just plan on sitting on that gold. During bad times the average Joe is not going to be as impressed by your offer for some coinage as your offer for some useful item in barter (.22 ammo, food, salt, etc.) Those are the things you should plan on bartering. When things get better, you'll pull out your gold and start a new bank account.

Remember that during the depression (1930s) it became illegal to own gold. So, putting it in a bank vault is probably not a good idea.

posted on Sep, 10 2008 @ 12:44 PM
3 questions:

why doesn't anyone talk about precious gems?

what does real estate do during a depression? I want to purchase a multifamily home in a USA city and private real estate in Canada/Mexico. WOuld this be a good idea?

what does business do during a depression? I want to start a water company and thought about an internet cafe, however, friends were saying I should stick to radio and print because those will be more affordable.

Thanks all!!!

posted on Feb, 16 2009 @ 01:30 PM
reply to post by Amelie

One thing to think about before paying down your debt. If the $$ hyperinflates, each dollar will be worth less or worthless however you look at it. So that $70,000 dollars you owe on that mortgage will be easier to pay off after it hyper inflates. If you purchase a precious metal now instead of paying off that debt, that precious metal will be worth much more compared to the $$ and that purchasing power will have increased significantly compared to the debt.

Currently we have not had hyperinflation in this country, just normal fiat inflation. But in this normal inflation just look at how much the $ has been inflated from 1975 to 2000. $279,925.89 in the year 2008 has the same "purchase power" as $70,000 in the year 1975.

posted on Feb, 18 2009 @ 10:58 AM
If you're going to invest in gold or silver, I'd suggest finding a few recipes for how to make it palatable. You'll have a hard time trying to trade it for food, water, or other goods.

If you must invest in a metal, make it lead, and invest in a good reloading outfit. Bullets will be an invaluable commodity when law enforcement is a thing of the past.

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