are you guys buying gold?

that it will if central banks buy gold.
Do they ?

https://www.reuters.com/markets/comm...ys-2023-01-31/

may be...

1,136 tonnes of gold in 2022. I don't know enough about buying gold not to get ripped off I think

Stick to coins, super easy to verify they are real.

Thanks, how much would be a good investment? 5K 10K 1K?

That's really up to you to decide and also depends on what your goals are. It wouldn't treat it as a one-time investment but rather something you add to once in a while.

If you are worried about the fall of civilization so in the prepper sense, it's better to buy silver coins. You'd be able to barter easier then with a 1oz gold coin due to the value. You might be able to trade a few 1oz silver coins for a tank of gas etc. The problem with silver is that it weights a ton. You can have like 15-20kg of silver coins and its worth as much as a handful of gold ones so it's much harder to move and takes much more room to store.

If you are buying to hedge against inflation, probably 1oz gold coins. As much as you want to spend for initial investment and then buy an ounce here or there then the price is good. Stick to the top 6 gold coins, people know them and if you need to sell they are easy to verify. If a canadian maple leaf coin is real, it will weight exactly 1 troy ounce, it will be EXACTLY x mm thick, exactly x mm wide, etc. If any of the measurements is incorrect, it's not real - there is no other metal that would allow the weight and size to be exactly correct. Gold bars require special equipment to test if it's real.

As for storage, if you don't have a super heavy safe that would be very hard to move, get one of those home hardware closable buckets, put your coins into a jar, put the jar into the bucket, fill the bucket with sand and bury it in on your property somewhere.

I never understood the "buy gold" mentality. One would need a huge amount to practically hedge against a catastrophic currency event...

in 2006, it would have been a good strategy.
For coins, i am not sure.
They may have a huge premium vs theiy price per ounce

S&P500 beats gold over the last 17 years. Either way, the gains aren't life changing.

This is why I don't get it. In k0nr4ds example of trading silver coins for a tank of gas, this paints an apocalypse picture where I'd probably be out murdering people and stealing their shit, rather than worrying about which precious metal to bury in the back yard.

That's true, but it also doesn't matter. The coin itself has value in the sense that while you are buying for a premium over spot, you are also selling for a premium over spot when you do sell it. A .999 coin is not the same as a melted blob of scrap .999 gold.

Even if you were to use those 1/10th oz coins like Austrian Dukats. I can't tell you USD prices and I can't be fucked to look but right now a 1oz gold coin here is about 8500 PLN, and a 1/10oz dukat is about 970 PLN. This gives me 9700 PLN to get 1 oz of gold dukats, so theoretically my cost per ounce woudl be less buying a single 1oz coin, but I can still sell those coins at around 960-970 PLN - because not everyone has the money to buy an ounce at once, or doesn't want to buy that much at once, or they want to be able to sell smaller amounts. If you buy a 250gram gold bar you will get much closer to spot price but it's not like you can sell 1/4th of a bar to someone later - it's gotta all go at once.

There is also the numismatic value of coins. There are various silver collector coins that go up drastically in value IE the marvel or star wars ones. Some are harder to find then others, and collectors pay a premium for them. People will even pay a premium on the normal coins if you have a whole set of all the years of a particular minted coin.

So in other words, if you buy a 2023 1oz silver chinese panda today for $25 or whatever it might cost there, in 10-15 years it will have additional numismatic value.

From what I've read about people during the bosnian war etc, bartering is very common in situations like that. If you have something that I need, but you need something else I don't have, then silver could serve as a medium of exchange as it would be widely recognized as having value.

Even in movies, like let's say "beyond thunderdome" - they had bartering there too

And if the world doesn't end... well, I made good gains on the silver.

As for S&P500, sure, but past performance is not a guarentee of future performance. It's not liek you knew 17 years ago that it would outperform gold.

Gold has always been the safest deposit

Except for this thing called silver..

Going to the valley on Wed, I'll check a few places. Thanks

my wife used to collect gold and store it in a safe. then she learned currency trading and now she won't hold gold more than a day.

yes she still has the safe full of gold jewelry and coins. nearly 2 decades of paying anniversary dividends

wife said gold will jump tonight (monday US time) when FED raises bond rates. there was a huge gap when the market opened this morning. or something like that. i just listened while i was getting coffee. trading is not my job lol

#