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I have 7,000.00 should I use it to buy gold or silver?

 
Anonymous Coward
User ID: 9421446
United States
02/01/2012 01:22 PM
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I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
tandym

User ID: 1667343
United States
02/01/2012 01:24 PM

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Re: I have 7,000.00 should I use it to buy gold or silver?
Gold & silver is good. I heard that right now Platinum is even better?

Personally though, I would buy some acreage.
Anonymous Coward
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United States
02/01/2012 01:25 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Get 1oz of gold split into .10 eagles

spend the rest on 1oz silver generics
Anonymous Coward
User ID: 6630717
Canada
02/01/2012 01:28 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I'm a huge gold and silver bull. But, it needs to be said, if that money is the bulk of you savings then don't put it all into one thing. If its play money, then go for it - get some of both and stick to Eagles or Maples.
Anonymous Coward
User ID: 9995874
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02/01/2012 01:32 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


wait for the next dip in silver below 30, then buy silver

[link to www.youtube.com]
Anonymous Coward
User ID: 1546575
United Kingdom
02/01/2012 01:35 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
silver
Anonymous Coward
User ID: 9992692
Germany
02/01/2012 01:38 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Stockpile food first. Buy G+S from what is left.
Silverback
User ID: 2546384
United States
02/01/2012 01:39 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Silver or platinum, assuming you already have guns and 2 years of stored food.
BRIEF
Rebel with morals

User ID: 381742
United States
02/01/2012 01:42 PM

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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


Is this your only 7K, or do you have an emergency fund? What about debt?
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
goodmockingbird
In the Heart of the EF 5 Tornado Belt

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02/01/2012 01:43 PM

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Re: I have 7,000.00 should I use it to buy gold or silver?
Set it aside to pay for several years worth of dental care, cleanings etc, and eye examinations, glasses, contacts etc.
In Memory of Tyrone Woods and Glen Doherty: American Heroes, Abandoned and Betrayed.
BRIEF
Rebel with morals

User ID: 381742
United States
02/01/2012 01:45 PM

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Re: I have 7,000.00 should I use it to buy gold or silver?
Set it aside to pay for several years worth of dental care, cleanings etc, and eye examinations, glasses, contacts etc.
 Quoting: goodmockingbird


That's an odd approach to an emergency fund...why exclude utilities, rent, food, etc?
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
tranny witch nli
User ID: 1432972
Canada
02/01/2012 01:46 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Set it aside to pay for several years worth of dental care, cleanings etc, and eye examinations, glasses, contacts etc.
 Quoting: goodmockingbird

Setting it aside in a cash account means betting that the US dollar and cost of living will remain stable.

Putting the money in gold and silver ensures that it will still be worth something years from now.
Anonymous Coward
User ID: 9996870
United States
02/01/2012 01:51 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Buy gold off the grid and keep it somewhere safe

I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446
Anonymous Coward
User ID: 1501937
United States
02/01/2012 02:01 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I would invest it in 1. another good firearm and 1K rounds of ammo, 6 months worth of food, then the remainder in silver.
Anonymous Coward
User ID: 8399009
United States
02/01/2012 02:43 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


platimum is probably always better. However, consider also some real estate or refinance the house or something too.
Anonymous Coward
User ID: 8399009
United States
02/01/2012 02:45 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I would invest it in 1. another good firearm and 1K rounds of ammo, 6 months worth of food, then the remainder in silver.
 Quoting: Anonymous Coward 1501937


silver is no good to purchase stuff. How about in case the banks close, putting a bunch of it into smaller bills and CHANGE. retailers would not be able to make change long if this happens for any length of time.
Anonymous Coward
User ID: 5868826
United States
02/01/2012 02:49 PM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


Is this your only 7K, or do you have an emergency fund? What about debt?
 Quoting: BRIEF


Hate to say it but I agree with brief for once. Too often we get wrapped up in doom and many many many people have destroyed their lives over it. Silver and gold won't make you money even in a hyperinflation cycle. Its just a store of wealth. I have silver and gold but as a hedge not a primary investment.

Make sure you have a buffer dude, shit hits the PERsONAL fan all too often. If you are already set I can tell you what I would do with an extra 7k. Laser eye surgery and dental work. If u really are a doomtard your teeth and eyes are going to be very important to you. I dread the thought of a cap falling off or losing my glasses
1i

User ID: 10218516
Switzerland
02/16/2012 09:20 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I would say gold, the thing is that silver is too bulky, if you needed to move in a hurry getting $7000 of silver in your pocket is just not going to happen, whereas with gold you just put it in your pocket and your away...

i bought some of this I think if you have gold and you don't want to part with it all then having little bits you can snap off like a chocolate bar is the best

[link to www.goldenasset.co]

This is the second time I have promoted this gold today but I'm still well impressed, what a bloody great idea, trust the Swiss to treat gold like chocolate :)
Anonymous Coward
User ID: 7060099
United States
02/16/2012 09:27 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


Shit, when I saw this thread on the first page I thought said 7,000,000. I was going to say "kick-ass underground bunker, food, supplies, THEN gold and silver."

As it stands, since you can't get an underground bunker for that price, invest it all in silver, and there might be a window of opportunity where silver goes to the moon and you can sell it to buy your underground bunker. That's what I'm banking on.
Anonymous Coward
User ID: 7060099
United States
02/16/2012 09:36 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I'm a huge gold and silver bull. But, it needs to be said, if that money is the bulk of you savings then don't put it all into one thing. If its play money, then go for it - get some of both and stick to Eagles or Maples.
 Quoting: Anonymous Coward 6630717


Silliness.

Everyone needs at least $100 face of pre-65 U.S. silver coins. Mix it up with dimes, quarters and halves. That will cost about $2,500 today. An ounce of gold in 1/10 eagles or maples is not a bad idea, and the rest you can use to buy silver Eagles or Maples.
LakeXeno

User ID: 9350448
United States
02/16/2012 09:36 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
"Precious" metals will be worthless with the new currency when it's value will be re-done.
Anonymous Coward
User ID: 10889421
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02/16/2012 09:37 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


There is an unannounced U.S. dollar currency devaluation coming this year. You REALLY want to make a fast return and have it be 100% secure against loss?

Check this out:

Go to your local bank (or a couple you do business with) and have them order $7000 in NICKELS from the Fed. They will not have this quantity on hand but can easily order them from the Fed and they will be delivered during their other deliveries. They may charge you a small fee ($100 for this order) but it is a fair deal. If they ask why you want this tell them you are a collector and looking for rare coins.

Why would you do this?

1) Your $7000 is still $7000 no matter what happens

2) If a currency devaluation happens (which it will) then monies in bank accounts will be automatically "revalued" while in your account. Paper money will need to be exchanged for new dollars. HOWEVER, coins will NOT be turned in (way way way too many in circulation) and will already be considered "revalued". So lets say there was a 50% devaluation. Your $100 sitting in the bank would become $50 balance overnight. Your $100 paper bill would need to be exchanged for a new $50 bill. Your $100 in nickels would be $100 in the NEW currency.

So in the event of a devaluation you would lose 50% if in paper or digital currency in the bank -- BUT your coins will GAIN 100%. Think about it this way... $7000 in the bank or your pocket (in paper) becomes $3500 after devaluation... or a 50% reduction in value. Your $7000 in nickels remains $7000 in the new currency... or as if you started with $14,000 in paper. $7000 DOUBLED (100%) = $14000

3) If we have a TRUE ON COLLAPSE of the currency you will still have the 80% Nickel / 20% Copper content of those coins. As it is as of even now the metal in the nickel is worth MORE than the nickel itself.

4) Because nickels are legal tender you can redeem them anywhere at anytime.... no need to "sell" on a market.

So no matter what... no matter which situation happens.. you can not lose money by buying nickels.

Yes, you could argue the point of losing value to "inflation" but the devaluation will be here long before the inflation effect would be so bad as to wipe you out.

So, if you want a clever SAFE place to tuck away your $7000... you now have it.
LakeXeno

User ID: 9350448
United States
02/16/2012 09:39 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Disinformation. The value/worth of the dollar is deflating but there is no requirement for a currency exchange. Not until our government falls (after ww3) will there be a new global currency.
1i

User ID: 10218516
Switzerland
02/16/2012 09:44 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
There will always be those guys who prefer silver to gold, myself I have some of both, when I look at my gold and I look at my silver...Both physical, the silver just worries me too much, it's so big and bulky, I often think if I do have to move quickly will I end up leaving it and taking only the gold... :(

Every kilo you carry is going to weigh you down, if you get in a car that car is only as good as the juice you have in it, once gone its back power from then on...

Weighing myself done with a load of dead weight with not that much value is something I see as a drag, gold because of its weight to value is well worth the burden, also if you have a handful of silver coins and I have a gram of gold and were both going for the same food or whatever I think the gold would win every single time...

Yes the price of silver is going up but I don't think it will ever come close to gold, gold just has that aura about it that mankind has lusted over for 1000s of years...

I have yet to hear of anyone getting 'Silver Fever' ;)
Anonymous Coward
User ID: 10099855
United States
02/16/2012 09:46 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


You cant eat either one.

When the shit hits I would want a good storage of supplies; food
Anonymous Coward
User ID: 1435822
United States
02/16/2012 09:48 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


Gold, because as soon as Ron Paul becomes President he will put us on the Gold Standard.
Anonymous Coward
User ID: 932005
United States
02/16/2012 09:54 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
Silver and copper.

Silver and gold will go so frickin high that copper (pure copper)will be the thing to use as a barter currency for smaller items.

Think about it...if silver went to over $100 an oz would you want to use a silver coin to barter something small like a loaf of bread? I have a mix of gold silver AND copper for the smaller stuff.

1i

User ID: 10218516
Switzerland
02/16/2012 09:55 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I doubt Ron Paul will ever be president but what cannot be ignored is the attention he has brought to the FED, if America needs a scape goat for all it's worries the FED is a great big fat one...

I don't think the gold standard will return in the way that we knew it before but some sort of hybrid gold related standard to work in today's global markets might well evolve, which would be great for all gold investors even small ones like me.. :)
Anonymous Coward
User ID: 1283316
Canada
02/16/2012 09:58 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


If you have no emergency fund, put $3k of that money into a high-interest savings account and then buy 50 silver Maples and one gold Maple (or two 1/2 ouncers, but then you end up paying a higher premium).

The worst thing to do is go all in on metals if you do not already have any. The price is high now, but it could very easily tank and stay there for years, especially once the Euro doom blows over and perhaps with a change of President in the US. The best approach if you are in for the long haul is to buy SOME now, and then down the road add more when the price goes down so that your average price per ounce decreases over time.
Anonymous Coward
User ID: 7060099
United States
02/16/2012 09:58 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
I am going to use tax refund to buy gold or silver what would you do?
 Quoting: Anonymous Coward 9421446


Is this your only 7K, or do you have an emergency fund? What about debt?
 Quoting: BRIEF


Thanks for the input Suze Orman.
1i

User ID: 10218516
Switzerland
02/16/2012 10:02 AM
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Re: I have 7,000.00 should I use it to buy gold or silver?
If the world went belly up those that control the food will be mafia strong, they won't want to mess around with pennies they will want to screw everyone they come across, there won't be any customer services, you would need to walk up to any place with food with weapon draw, loaded and ready to fire...

If the SHTF it will be a Max Max world...

Survival will be only for the fittest, I would not trade nickels when I could get gold for the same and I know that people would give it to me even if I was selling rat meat...

I think America is very close to the meltdown, people really need to get real and think really hard about the reality of human greed and cruelty, I live in one of the safest places on Earth but many here really feel that good times are not going to be with us for long...