New to forum and what do people do about EDC?

Discussion in 'General Precious Metals Discussion' started by Boicie, Jan 12, 2019 at 2:00 AM.

  1. Boicie

    Boicie New Member

    Joined:
    Saturday
    Messages:
    1
    Likes Received:
    1
    Trophy Points:
    1
    Location:
    Murry River
    Hey,


    I'm new to the forum and the concept of stacking but not to investing in precious metals. My Grandfather bought and sold both Gold and Silver - and even dabbled in a little Platinum from time to time, but after he passed the family fell on hard times and wiped us out, so we're collectively rebuilding our 'stack' as it seems to be called.


    One thing that he always did was carry gold sovereigns with him wherever he went. This he would use to sweeten deals and to get the final price he wanted. He didn't usually carry silver as the trading he was doing in other areas was large enough that it wasn't worth offering silver over gold.


    Our family has essentially pooled our stuff together now and I had a reason to put a pair of silver 1oz Crocodiles in my pocket a few weeks ago. Since then, the security of having them in my coin pouch has been something of a comfort and I'm just wondering if other people have an Every Day Carry (EDC) strategy or system and what you can recommend? Is there something you’re already doing that you can point me in the direction of?


    I've just changed jobs and am working out my 'investment' - which I refer to as "forced savings" strategy - which will include both Gold and Silver. One of the projects I'm working on both for the job and for myself is experimenting with smelting metals in a home forge, copper and brass mostly but that is easily translatable to Gold and Silver. I was thinking about maybe working some Gold and Silver into what I wear or even forging Gold and Silver bullets (1x9mm round is equivalent to 1oz of Gold and I think a 45cal is 1oz of Silver) and keeping a few of those in a secure pouch on my belt. The sort of place that is a novelty, but not something a thief would consider being of any value, especially if the pouch itself is inaccessible – i.e there’s no flap on it, its just a piece of leather wrapped around you need to really cut to get into.


    I’m not too worried about shtf, especially in Australia that is a lot more stable than other parts of the world I’ve recently spent time, but the long-term strategy does include that. This is more about the hypothetical buying something at the pub, being able to slap 3oz silver on the table and buying a $100 for $65 (at today’s spot)


    Thanks and looking around this looks like a great place to hang out.
     
    JOHNLGALT likes this.
  2. Oddjob

    Oddjob Active Member Silver Stacker

    Joined:
    Aug 19, 2018
    Messages:
    355
    Likes Received:
    215
    Trophy Points:
    43
    Location:
    Oz
    G'day and welcome.

    Interesting background. Thanks for sharing and good luck with the portfolio rebuild.
     
  3. StewyD32

    StewyD32 Active Member Silver Stacker

    Joined:
    Nov 11, 2016
    Messages:
    643
    Likes Received:
    197
    Trophy Points:
    43
    Location:
    Western Australia
    Welcome along :)
     
  4. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2010
    Messages:
    6,615
    Likes Received:
    742
    Trophy Points:
    113
    Location:
    House Corrino
    Welcome to Silverstackers!
     
  5. jultorsk

    jultorsk Active Member Silver Stacker

    Joined:
    Oct 17, 2016
    Messages:
    136
    Likes Received:
    103
    Trophy Points:
    43
    G'day and welcome along.
     
  6. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    11,774
    Likes Received:
    856
    Trophy Points:
    113
    Location:
    Australia
    Welcome.

    My EDC is simply some very divisible and tradeable gold jewellery, and when travelling, a sovereign pendant with bezel is added for "just in case" peace of mind. All up it gives close to $1000 security. Any more and you're a target, any less and an emergency may become more dire. It's divisible enough to buy a long taxi ride or solve larger problems. I've only needed to call upon this 'wearable' insurance once, and it was very handy at the time, so now it's an easy habit to follow. Gold is a universal language, and the sovereign is well understood!
     
  7. Jislizard

    Jislizard Well-Known Member Silver Stacker

    Joined:
    Apr 7, 2011
    Messages:
    7,602
    Likes Received:
    306
    Trophy Points:
    83
    Location:
    Australia
    Welcome.

    Anything I try to carry everyday usually ends up in the washing machine.

    Smelting cheap metals is a good way of consolidating scraps into a larger more manageable bar. Not sure it would be so good for precious metals. I am not sure I would trust one of your poured bars to be solid 24k all the way through, at least with a recognised company bar there is more chance of it being exchangeable.

    I like sovereigns but couldn't tell you how much they are worth or whether they are fake or not.

    The only wearable precious metals I have ever considered are buttons. I figured that if I could drill 2 holes in a worn out 3p or 6p coin I could easily fit them onto a shirt and have a whole row of shiny buttons worth a couple of dollars each. Just cut them off when you need them or you bin the shirt.

    However I am unable to drill or sew.

    I don't wear jewellery either, but would consider a belt buckle if it wasn't too flashy.
     
  8. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    1,005
    Likes Received:
    264
    Trophy Points:
    83
    Location:
    Country Victoria Australia
    Welcome to Silver Stackers, great opening post there. Being the resident nitpicker (one of) here I just did a GGLE search & couldn't find your residence, however, I found this nice little River between N.S.W. & Victoria. p.s. Good luck with your teaching, - I see our kids are in safe hands.
    Murry River Teacher.jpg
     

Share This Page