Any downside to bars?

[fi50@fi2023]

On the opposite end of the spectrum.... do any of you purchase coins smaller than 1 oz? I wonder if smaller coins would be more useful in a SHTF scenario as a means of trade.

[ochotona]

SHTF? Cheap booze, condoms, 9 mm, .223, .22, marijuana, junk silver, cigarettes, vape juice, toilet paper, beef jerky, better than gold.

[Xan]

I got a good feeling about the Perth Mint from Bron's posts here. Btw, he left - http://research.perthmint.com.au/

Bron Suchecki departs The Perth Mint

- Mar 22, 2016

He seems to have turned up here:
https://monetary-metals.com/about-us/

[Libertarian666]

On the opposite end of the spectrum.... do any of you purchase coins smaller than 1 oz? I wonder if smaller coins would be more useful in a SHTF scenario as a means of trade.

Junk silver, e.g., dimes and quarters are probably best for that. Even a 1/20th ounce gold coin is too big a unit for most everyday purchases, and is likely to have a high premium as well.

[Libertarian666]

SHTF? Cheap booze, condoms, 9 mm, .223, .22, marijuana, junk silver, cigarettes, vape juice, toilet paper, beef jerky, better than gold.

Great list (I won't comment on my massive stash of condoms).

Regarding junk silver: in a SHTF scenario, do you think the general public is educated enough regarding coin dates and weights to recognize the value of junk silver?

Most older people will recognize it, but you might want to keep some printed copies of coin specs around just in case.

[l82start]

i think people would learn it pretty fast, plus black market money exchanges are likely to be a boom business..
- there is always bullion coin silver as an easier to recognize option.

[dualstow]

Great list (I won't comment on my massive stash of condoms).

"There must be some mistake. I wanted to reserve a bunch of condos!"

[ochotona]

I made the Big Buy (for me) of two 10 oz bars yesterday, too bad those statements were made about weakening the US Dollar, which spiked gold. That's how it goes. I'm getting close to what I consider minimal portfolio insurance, 5% gold. Goal is 10% (per Jim Rickards). When I hit 5% in a few weeks I'm going to become more selective once again about price, and try to fish for $1000-$1100. I do have a position in miners PSAU so if gold spikes up wildly up, I'll sell my miner stock and buy physical. At 10% I'll go to sleep, unless gold gets ridiculous, like Harry S. Dent ridiculous ($250-$700), at which case I might even go for Golden Butterfly (20%) or Permanent Portfolio (25%) allocations. It all depends on price, and it may be partly ETF, for trading.

[dualstow]

You've got two lucky children.

[ochotona]

You've got two lucky children.

I am a lucky Father! Two great kids. All grown up.

[ochotona]

Got the bars, and very pleased with them.

[dualstow]

If, say, 10 years from now gold triples in value, will you feel nervous about transporting them?

[ochotona]

If, say, 10 years from now gold triples in value, will you feel nervous about transporting them?

I chose the bank with great care... I will come and go prepared for whatever because they don't abridge my rights. It's a sleepy little Texas town. Nothing happens there. Also “This is the only bank in the United States that didn’t close for the Roosevelt Bank holiday, and our customers’ like that just fine.”

http://www.breitbart.com/texas/2015/04/ ... -ever-did/

If / when they get it up and running, and depending on the cost, I may use the future Texas Gold Depository.

[ochotona]

Well, I could not push together all of the after-tax cash I needed to finish out my gold acquisition before the price got away from me. I stopped buying at $1210.

What do you think if I were to a buy gold ETF in my IRA account, then exchange the ETF in the future for physical gold after I get more cash? I would be locking in current gold prices. That would be good if things got weird this year somewhere in the world. On the other hand, I'm a momentum guy, and gold has barely positive 1-yr momentum now, and it's below 200 day MA, so those are mixed trend signals... at least I could quickly sell an ETF in an IRA if the price were to crash, but then I could go back to buying bars, coins.

[dualstow]

I wonder about doing that, too, especially if I won't be in town to take delivery of coins.
Although I have no regrets about buying gold, I'm at 26% from buying so much. I could certainly rationalize buying more by making the pp larger & vp smaller, but I'm not feeling it.

What does your allocation tell you?

[ochotona]

I wonder about doing that, too, especially if I won't be in town to take delivery of coins.
Although I have no regrets about buying gold, I'm at 26% from buying so much. I could certainly rationalize buying more by making the pp larger & vp smaller, but I'm not feeling it.

What does your allocation tell you?

I need to wait for end-of-month signal. But, based on what happened to gold today, it might be "out" for March... it's kind of on a razor's edge. All the pundits seem to say the same... "gold can't make up it's mind". Really, it's having problems that way.

[dualstow]

All I can say is, I'd go crazy worrying about that stuff. I know I'm talking to a momentum guy, but I can't even be troubled to do that with stocks. With gold, I just tell myself that I can always will the coins to someone and maybe gold will come back a century from now.

[ochotona]

I'm going to sit and wait and see what happens. Ready to pick up the phone and buy at $1200.

[steve]

I like bars and coins and have both, I do not see much of a downside. You can keep them in a safe deposit box and get insurance. If you get bars from a reputable dealer it should not be a problem.

[ochotona]

The price action today is nutty! I'm going to place limit orders so I don't miss a spike downward

[thisisallen]

Limit order at 1200? That's a big drop.

[ochotona]

It was at 1260, then 1235. 1200 not outrageous. It was 1200 recently. This asset is so volatile...

[thisisallen]

@ochotona. I just noticed your post count is "1200." Hope that will be a good omen for you. If it goes to 1200 I would also be a buyer.

[dualstow]

It was at 1260, then 1235. 1200 not outrageous. It was 1200 recently. This asset is so volatile...

But mostly just in dollars, right? Not in most currencies.

[ochotona]

US Dollars. Not Renmenbi.

I'm waiting and seeing what happens at the FOMC meeting mid-March. If they do raise interest rates, and the Dollar moves up, gold could move down, then it could a good time to buy. If they don't raise rates, I just need to wait until they have the guts to do so - the next meeting, May 2-3.

The thing about these Texas Precious Metals limit orders; they trade 24/7, so if you get spike downward overseas while we sleep, your trade could execute. I'm hoping for a happy $1200 accident somewhere.