Sorry for my stupidity, whats PM guys? The reasons why i'm doing this? Because the US dollar and the Euro are about to come down and advice by good sources tell me to buy silver and gold. This is for long term if/when the SHTF, i'm even going to the extremities of selling the house and renting for a while as I dont believe the housing market can sustain itself at these prices. So we are taking whaever profit out of our home (not this $10,000 thats seperate) and investing into something we believe is more secure. Also if/when the SHTF I think we all know we are in for quite a good return. At the moment I dont trust banks. Your responses have given me lots to think about and research further, I appreciate anything else you have to add. We will not be getting platinum, just silver and gold. And from what I can tell, the more silver the better.
PM = Precious Metals Yes, the first question should be, why invest in PMs ? But you already know why... The second question should be, what do I want to achieve? Meaning, what kind of PMs would suit you? Are you there for the long haul, or just to make a quick buck? Can you spare 10k without having to worry about, for years perhaps? Have you thought about your own mobility, are you likely to move often or not? Do you have safe storage, reliable friends and family, a regular job etc. etc. You can add up your own personal answers, and more questions to be sure... Whatever you'll hear from others will be their own solutions to their questions. Your situation is unique, and remember, whatever they say, life is a selfish thing. You will always be Numero Uno in your own life, the rest will be either dictated or accepted, or you can learn to be neutral, and that's the difficult bit... just like the choices you'll have to make ! I see a lot of good ideas in the other posts, some make me wonder... When the SHTF time comes, a 1966 round 50c will probably buy you a Lunch, like in 1966... an ounce of silver, a bag of rice, meat and veges for the week a gold Sovereign will buy you a suit, running shoes, spare sox, shirt and undies an ounce of Gold might be easier to hide (or to carry) than a kilo of Silver, 5 oz of Gold might see you be a Person of Interest, not always for the better 50 oz of gold should put a roof above your head, and silver clouds in your dreams 500 oz of gold... well, perhaps I shouldn't help you getting that far... lol. Whatever you do, it's your call ! And btw... Welcome !
Perth Mint sent you a Personal Message about Precious Metals :/ To the OP (original Poster) Skip the 50's - they're good to buy when your skint, not when you're flush ..... IMHO of course
TBH = To be honest TBH I'd buy a few ounces of 1oz gold kangaroo coins, and a few 10oz bars/coins, and a crap load of sixpence, threepence, 1966 50 cent etc. Since when I saw the prices of silver hit $50 a few months ago people on ebay were paying crazy premiums for the predecimal stuff. Also its easier to barter for food etc.
I'm not convinced about silver but having said that I think it wise to have in the spread. Now gold, thats another story. Buy gold when ever you can.
I would buy $2500 a month for 4 months. A one off $10000 purchase, assuming you won't buy again for a while, will leave you with regrets when you do further research.
Don't underestimate gold I think a lot of us get excited with silver at the start but then come round to gold, especially during times of fiat crisis, you don't want to back the right asset class but the wrong metal, both are good and serve their own purpose! Welcome
Yes I'm very new to this and I'm glad I went into Gold as well as Silver with my first tranche .... because after research (and reading here) and looking at volatility ... manipulation, "expert guesses" at silver bull behaviour, it seems smart to have a hedge both ways (again depending on your reasons form being into PM in the first place). I mean, I'd be pretty upset if I WASN'T holding silver and it went to the moon ... but I can't bring myself to ONLY buy silver based on the strong biases of some spruikers on the interwebz ... and ... I'm still learning!! (Will be buying more gold next tranche)
i purchased some silver when it was higher - rounds, ounces. if i were to start fresh i'd diversify to include more pandas, kooks, dragons. because those are subject to other market demands other than bullion which i'd gamble on working in my favor. disclaimer: i'm by no means a sophisticated investor, quite the contrary. very impulsive and learning from mistakes.
Platinum may be worth looking into as well. See blog here: http://www.perthmintbullion.com/Blog/Blog.aspx
Thanks for all of your great responses guys, I really apprciate your time on this. As your opinions were broad, this was my decision: 10 x 10oz bars of silver 1kg 1966 50c coins 2 oz gold bullion 2 x 1/2 oz gold kangaroos coins price at time came in at $9804 As a beginner I'm happy with this as its a reasonable selection for me. Good way to start anyway. I will just either purchase every week or once a month depending on cash flow from now on. Thanks again!!
