I have $4000-$5000 I would like to Invest into Gold (Or Silver). This is not to protect assets, but to protect from an economic collapse.
What kind of Gold?
Denominations (1/4 oz, 1/2oz, 1oz, etc.)?
Silver at all?
Online (If so, please name a reputable site) or in a physical store (I'm in Seattle area of anyone has recommended stores).
Thank You.
Lol
If you really, seriously believe there is going to be an economic collapse then you should start investing in weapons. Gold isn't going to do squat (and $5000 of gold really isn't going to do squat).
Invent a time machine, go back 10 years, invest.
Gonna Be Rich! wrote:
I have $4000-$5000 I would like to Invest into Gold (Or Silver). This is not to protect assets, but to protect from an economic collapse.
What kind of Gold?
Denominations (1/4 oz, 1/2oz, 1oz, etc.)?
Silver at all?
Online (If so, please name a reputable site) or in a physical store (I'm in Seattle area of anyone has recommended stores).
Thank You.
$5,000 is a small purchase so just go with APMEX or Kitco and buy 1 oz. denominations.
Silver, bars or rounds.
Keep them in a safe place in your house or bury them in a hole on your property.
Whatever Glenm Beck recommends.
Your best investment would be a book on economics or somebody who actually knows something about the subject...and I don't mean the right wing morons that frequent this site.
Gold (and silver) is an INFLATION hedge. It goes up with expectations of inflation. In a real economic collapse, you will lose your shirt. Consider that in the Republican disaster in the second half of 2008, the price of gold FELL 30%. That's when everybody was convinced we were headed for a second Great Depression when Obama was elected. ONLY after the depression risk was contained did gold and other commodities start to go up again.
Buying gold now is essentially a bet on large scale stimulus in Europe, and that they will avoid a depression.
Yes, I still have gold futures--but I bought them initially in early 2009.
Fractional oz coins cost more relative to the spot price than 1 oz. A 1 oz gold coin may have a markup of 4-5 % Some fractionals could be marked up over 10%. And I don't think the Glenn Beck comment was sincere, in case you were wondering.
Stand on a run down corner of town with a sign that says "We buy gold and silver" That should do it.
Kitco is good.