gold and silver
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If you are in the group that wants to leave no paper trail and pay only with cash then your only option is to buy locally from coin dealers or pawn shops.
If you don't care about a paper trail then I suggest ebay. They have a huge selection and all the major dealers sell on there with no up-charge for using your credit card. Usually ebay has e\some very good prices but still it pays to shop around at some of the big dealers.
Here is a popular choice for junk silver.
https://www.providentmetals.com/90-junk-silver-us-coins-1-face-value-715-troy-ounces.html
If you don't care about a paper trail then I suggest ebay. They have a huge selection and all the major dealers sell on there with no up-charge for using your credit card. Usually ebay has e\some very good prices but still it pays to shop around at some of the big dealers.
Here is a popular choice for junk silver.
https://www.providentmetals.com/90-junk-silver-us-coins-1-face-value-715-troy-ounces.html
Best not to leave a paper trail, hiwalls first sentence and don't put any gold or silver in safe deposit box, FDR took peoples gold in 1933 and safe deposit boxes were ripe for the picking.
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They have already took off with the gold in Fort Knox so I be damned if I will spend my money of storing gold for them to take .
I'd rather keep buying campers and giving them away or growing $20 tomatoes,.
.I don't even like them so why would I save for their future?
I'd rather keep buying campers and giving them away or growing $20 tomatoes,.
.I don't even like them so why would I save for their future?
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I called Swiss Gold about 15 years and ask fro $5000 in dimes.
He was insulted! . He said " lady I'm not going back there and counting out $5000 in dimes". You'd think they had a counter being so popular. Good thing as it turned out we had a emergency so may have cost us to resell. 
I suggest local, PM shops, coin shops, or pawn shops. Online is also an option.
Before PM's I'd suggest enough cash to cover all your expenses for at least 8 months. Next, enough food to feed your family for between three months and seven years depending on what you think is appropriate. Then, any cars, equipment, repairs, etc. You will never have everything but at some point PM is something to be considered. The recommendations that I have heard is that between five and ten percent of your assets should be in PM's.
I would suggest that being debt free is more important than PM's. You really don't want to be paying interest on a bunch of old quarters or gold coins.
Before PM's I'd suggest enough cash to cover all your expenses for at least 8 months. Next, enough food to feed your family for between three months and seven years depending on what you think is appropriate. Then, any cars, equipment, repairs, etc. You will never have everything but at some point PM is something to be considered. The recommendations that I have heard is that between five and ten percent of your assets should be in PM's.
I would suggest that being debt free is more important than PM's. You really don't want to be paying interest on a bunch of old quarters or gold coins.
Being debt free is number1, Cash on hand is a good idea but if hyperinflation becomes a reality cash and bank accounts are worthless. You won't make money on gold or silver (or other precious metals) but you can protect your monetary value with them. Gold and silver always carry the same value. The reason the price fluctuates is the fact that money is constantly changing values.
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Debt free is number one. Second is food and water. Third is cash on hand and fourth is PM. Of course without a means to protect your family and assets, none of it will matter in the long haul. Why debt before stored food or water, without debt, you will be able to build the supplies faster without the risk of having to lose them in a financial disaster or down turn. Stored food won't help if you can't pay your rent or mortgage. JM2C
APMEX.com, JMBullion.com and ProvidentMetals.com have all been great to work with. I've also purchased with cash at the local coin shop, but you need to know the current spot price of whatever metal you want to buy so you know whether or not the asking price is reasonable. It's wise to call ahead to ask how much over spot a particular shop charges per ounce for bullion.
Whatever you decide to buy, keep it with you; don't store it in someone else's safe. Safe deposit boxes are a terrible place to store anything of value because you're at the mercy of the bank manager to let you get to your stuff.
I agree with the previous posters: building a store of wealth should come after getting out of debt, having a sustainable food store, and personal defense.
Whatever you decide to buy, keep it with you; don't store it in someone else's safe. Safe deposit boxes are a terrible place to store anything of value because you're at the mercy of the bank manager to let you get to your stuff.
I agree with the previous posters: building a store of wealth should come after getting out of debt, having a sustainable food store, and personal defense.
Suggest having shelter as a priory too.
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Major omission on my part. Thanks for the correction.
Some advantages to PM's are, floods won't ruin PM's, a fire may melt your PM into a blob but you still have the blob, PM's have never been to zero. It is generally considered that PM's don't change in value very much but the currency it is measured against does most of the changing.
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Because he wants it all to himself. Didn't he ask why not?
I will say that Gold and silver is a risky investment but it is a smart hedge against inflation or an insurance in the event of a crash. There is a big difference. Presently I am down on my silver by around 30% but on gold only down about 5%. If it was an investment I would be upset but because it is merely an insurance I'm fine with it.
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Some people don't believe in PM's. Perhaps your brother is in debt and your brother would be better served by reducing debt. PM's are a store of wealth but so is land. If you owe on your house and car then you are paying interest on PM's because you could have paid down the note. Buying PM's rather than paying off debt only makes sense if your interest is low and inflation is high.
For example, if you had an ounce of gold in Venezuela right now you could probably get enough to pay off that ten year old note with $100,000 left on it.
Another thing to consider is to have a ready reserve of cash. This is even more important than paying off debt. You need, at least, enough cash to pay all your expenses for eight months. If you get sick, lose your job, or something else happens and you can still make payments which will protect you from the loss of your assets.
According to Suze Orman it is people then cash then things. You need to be healthy or nothings matter. You need an education which can be college, a trade school, or on the job training. The reserve cash protects everything else.
The old expression is "cash is king." They must accept cash for taxes and for debt. "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE" is on all U. S. currency. This means that you must accept cash to pay debt. It does not mean that you need to accept cash to transact a sale. Today virtually everything is marked in currency as far as price. You can require payment in turnips, or gold if you wish, but is you give then the product on credit you must accept currency as payment. So, if you no longer trust cash then don't give credit.
Gold and silver are money. Ever copper and nickel are money. Paper and the fiat coins are currency.
According to Suze Orman it is people then cash then things. You need to be healthy or nothings matter. You need an education which can be college, a trade school, or on the job training. The reserve cash protects everything else.
The old expression is "cash is king." They must accept cash for taxes and for debt. "THIS NOTE IS LEGAL TENDER FOR ALL DEBTS, PUBLIC AND PRIVATE" is on all U. S. currency. This means that you must accept cash to pay debt. It does not mean that you need to accept cash to transact a sale. Today virtually everything is marked in currency as far as price. You can require payment in turnips, or gold if you wish, but is you give then the product on credit you must accept currency as payment. So, if you no longer trust cash then don't give credit.
Gold and silver are money. Ever copper and nickel are money. Paper and the fiat coins are currency.
I've done business with these folks in New Orleans several times. Their rates are fair.
Southern Coins & Precious Metals
http://www.scpm.com/
Edited... @timmie I just checked their website. They didn't list any junk silver but that doesn't mean they don't have any. I always drove down and did business face to face but it's been about a decade since I was there. You can call and see what they have.
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no way is this brother in debt. all he has is utility bills . insurance and meds
Well, I don't recommend buying PMs as an investment, either. I recommend buying them as a store of wealth; a hedge against the dollar going the way of the Venezuelan Bolivar.
Precious metals are not an investment. They don't pay dividends and they never change in value. An ounce of gold in 1890 would buy a good suit, in 2018 that same ounce of gold will still only by a good suit.
The suit cost $20 in 1890 and $1500 in 2018. The difference in dollars is the fact that the dollar is worth less than it was in 1890. The gold holds the same value.
The idea behind investments is to make money over and above the rate of inflation. There is risk involved in investing because you can lose value - even with land. With precious metals you can't lose value but you can't gain value either. PMs are to safeguard the wealth you have and you should put about 10% of your disposable income into gold and silver. You should have 25-30% of your annual disposable income in savings. 1% in cash is a good number and 25 - 50% in a diversified portfolio with bonds, stocks and certificates of deposit.
The above is based on DISPOSABLE income. If you are one paycheck away from being on the street then all that is meaningless. Get out of debt, own your personal and real property, and then put together a savings and some precious metals. After you get those established you can go into stocks and bonds. The following advice may not pertain to many but when buying precious metals or anything with intrinsic value buy in amounts of less than $10000 because transactions of $10000 and more are always reported to one branch of government or another. If the government knows you have something of value, and the want it, they know where to get it.
The suit cost $20 in 1890 and $1500 in 2018. The difference in dollars is the fact that the dollar is worth less than it was in 1890. The gold holds the same value.
The idea behind investments is to make money over and above the rate of inflation. There is risk involved in investing because you can lose value - even with land. With precious metals you can't lose value but you can't gain value either. PMs are to safeguard the wealth you have and you should put about 10% of your disposable income into gold and silver. You should have 25-30% of your annual disposable income in savings. 1% in cash is a good number and 25 - 50% in a diversified portfolio with bonds, stocks and certificates of deposit.
The above is based on DISPOSABLE income. If you are one paycheck away from being on the street then all that is meaningless. Get out of debt, own your personal and real property, and then put together a savings and some precious metals. After you get those established you can go into stocks and bonds. The following advice may not pertain to many but when buying precious metals or anything with intrinsic value buy in amounts of less than $10000 because transactions of $10000 and more are always reported to one branch of government or another. If the government knows you have something of value, and the want it, they know where to get it.
I believe it is possible to keep PM's in an IRA but you can keep said PM's in your own safe. Does anyone know about that?
Paper/contract PMs are worth only the paper they are written on. The only way precious metals have any value is if you have the physical metal in your possession.
A PM IRA must be held by a third party. I heard some get around this by getting a LLC and use that as the third party so they can keep the PM's at home. But the federal gov could find that practice illegal and you could be responsible for finds for doing an IRA this way.
Please note that I am not an expert and that is only what I heard through the grapevine.
I swear that I used to see ads for PM IRA's on TV where they would include a small safe for you to store your gold or whatever. I haven't seen the ad for some time but I usually DVR the TV and skip the ads.
I found it. It is called a home storage IRA and it is not as good an idea as I thought. Here is part of the article. Oh, well!
Things you need to know:
Things you need to know:
- Firstly, the IRS is notified annually that your specific IRA owns the LLC. No additional privacy there.
- You, as the owner must supply the IRA provider with actual third party confirmation of the value of the LLC. This means that you have to report the exact value of your precious metals and any cash in your LLC. No additional privacy there.
- Your precious metals choices are limited to only US minted Eagles. The hucksters out there will try and talk you in to Proof Eagles, read our article why you should never own proof coins in an IRA.
- You cannot reasonably insure your precious metals that are stored at home – the insurance cost is astronomical. Remember that if your metals are stolen or lost, you will have a taxable withdrawal cost on top of your physical metals loss value.
- Safe Deposit box storage is not insured via any bank. Also, many banks will not allow the storage of bullion in safe deposit banks, beginning with JPMorgan Chase.
- All bookkeeping for the LLC must be maintained by the IRA owner.
- If the IRS asserts that a prohibited transaction occurred, the burden of proof is on the taxpayer. You must prove that you did not receive a personal benefit. Worse yet, you will be presumed guilty in tax court until you prove otherwise.
- If asked, you need to provide proof of the “chain of possession” ensuring that the metals have not been tampered with.
- All prospective fees are the responsibility of the LLC potentially including, but not limited to: legal fees, bookkeeping fees, annual reporting and state filing fees.
