I'm new to the world of PMs so please be gentle... I'm looking to accumulate some gold coins for use as a method of exchange in a calamity situation. Any tips on how to proceed on this path? Feel free to ask me any clarifying questions required. I'm in Sydney and expecting AUD20-40K will be my target value, but still working this through. Thanks in advance.
It'd be about living ok until 'the dust settles'. Bulk of metals will be unalloc at Perth Mint with the idea of exercising to alloc if required. If I miss that opportunity, for whatever possible reason, that's where the on-hand coins would come in. Or at least, that's how I'm figuring it so far. But happy to be educated to a different view.
1000 x 1966 fifty cent silver coins and 30-40 x $200 coins should buy most of what you'd need if there was no confidence in fiat imho. If things weren't righted within 9 months, money wouldn't matter anyway. If you're thinking houses, then 1oz PM coins would be my choice.
If you're that worried, join a hunting club, buy a few bang sticks, stock up on food that can be stored. In that situation things like whiskey may make a better currency than gold coins.
Sovereigns! It doesn't hurt to have a few even if S doesn't HTF. There are lots of immigrants in Australia and the sovereign is recognised worldwide. Most Australians wouldn't recognise their own $200 coins or any of the other kangaroos etc. Silver is probably your best bet for day to day living expenses, it takes up less space than Whiskey and you are less tempted to use it yourself.
+1 Maybe add in a few $10 silver coins (92.5% silver) if they can be had cheaply. http://www.australianstamp.com/Coin-web/aust/tendolla/tendolla.htm
If we get into a SHTF situation and PMs go back to 'historical' values, the gold would be far too expensive for the layman to conduct day to day trade with. Silver would be used for day to day expenses and even then, it would buy a *hell* of a lot more than it does now (hence why there's a lot of copper in our historical coinage). Not wanting to deviate the thread too much, but since the Roman era and before, just 1/10th Oz of SILVER has been 'worth' roughly 12 hours of hard, human labour. It's only since the industrial age that silver has waned in 'value'. If I was going to be looking for barter metal for day to day things, Copper and Silver would probably be further up my priority list - gold would just be overkill.
Hi and welcome! If you're from Australia, then go for Perth Mint's products. They're among my favorites as well... Why limit yourself to coins? Personally I'd go for a variety of small to large bullion bars. Perth Mint has bars enclosed in cases that serve as certificates. You can start from 1 g, 5 g pieces, go up with 10 g, 20 g, up to 1 oz, 50 g, 100 g and higher... depending on how much money you have. Make sure you diversify your portfolio. Consider buying silver coins as well.
...additionally a few gold coins would do. But overall I'd concentrate on sealed bars with certificates. That way you will be able to sell them easier. With coins is a little bit more complicated (there are tons of fakes, there are no certificates and testing might be required).
