I have been looking around, and it appears that the best price per AGW you can get is a Mexican Dos Pesos gold coin. I can find them as cheap as $91. I would like to get a $1 American gold, but it just can't happen for less than $120. I think both of these coins carry the same amount of gold, or very close. As the title says, I am on budget. $100 would be about my limit, and that is in the future. I am just asking / looking for future reference. Would you agree the Mexican Dos Pesos is the best bet, or is there something a little better? Thanks for you time, and insight! --Rob.
You might want to try saving more and then googling us coins internet special. At the current time, you can get 1 $10 gold eagle (.1 oz) for 177.55. (I wonder what a 3030 American Gold Eagle is?) If memory serves (from about one year ago), you will need to give a phone number and they will call you, but the upsale attempt will be low key.
1/20th maple might be worth a chance if you can find them, or aussie and maybe panda. The last 2 are tough to find for under $100...but you can try..
I wouldn't go less than 1/10 oz gold otherwise the premium is awful. Even 1/10 oz isn't great, I prefer 1/4 oz for premium sake but I do like 1/10 oz because they are more liquid. However, for a $100 spending limit I would go for silver instead. You can get 3 oz for about $115 and not have to deal with such premiums.
As others have mentioned save for at least 1/10ths unless you like the pesos or $1 coins. It's easier to start small buying 1/10ths whenever you can and then eventually trade them for 1 ounce coin. Some lcs one that I know of does this swap without charging a premium because they make more on the fractionals anyway.
I have been tossing the idea of just getting silver over gold for a while, but the volatility of silver scares me. Granted Gold is also volatile, usually Gold won't drop near as much as Silver in a day or week, month, year, etc. Sure, it might be slower to gain value also, but I am looking for it to be a more stable investment, rather than a quick money maker. Yes, I live paycheck to paycheck more or less, BUT I want to take the little bit of spare money I DO have, and invest in something so that 40 years down the road I have a nice little nest egg.
40 years down the road you shouldn't worry one whit about silver volatility versus gold, IMHO. Stick with the $180 1/10 eagle, or just get silver, says I. Guano posted elsewhere to buy gold and silver in 1:100 amounts, and I like that strategy. Work your way toward 10 ounces of silver and 1/10 oz of gold, keep going toward 100 oz of silver and 1 oz of gold, and beyond.
I think I will do that. I am working to save about $10-20 a week and just but that into 90% dimes. I'll keep doing that until I have enough to move over to gold. Someone once said "Think of walking into a gas station with a $500 bill. That is what walking into a store with a 10 ounce bar of silver, or almost any amount of gold will be." he went on to say that, if the economic collapse happens, the store will likely not be able to make change for the bullion you just brought in. They will be happy to take it, but you will likely lose out. That is what has me on this dime kick now. However, the Gold is still relevant to me. I want to be able provide shelter for my wife and I. I think GOLD can help acquire that.
A few dimes are nice for that possibility, but more likely most stores will only be taking the fiat du jour, and you'll have to sell your PMs to buy what you want. The few shoppes which would be savvy to PMs wouldn't have difficulty making change. That's my projection, anyhow.
For me that's really just a matter of my circumstances, what works best for me and the amount of money I have and how easy it is to find the PMs where I live....If I had more money I might play it a bit different but think it's a good target for people who are just starting or can only buy a 1/4 ounce or less of gold at a time. I really have no logic for that ratio other than its easy to do and it keeps me happy.
IMO no one should be buying PMs because economic collapse scenario (you much better off with land, supplies and guns) you should be buying PMs for diversification.
This won't be like Mad Max. You'd first take your gold and "cash" it in for dollars. You wouldn't take it to the store. Zimbabwe, Weimar Republic, Argentina, all kept their currency or exchanged it for other currency. Wal-Mart isn't suddenly going to start accepting gold. We're not going back to the Dark Ages. IMO, the first thing people should do to prepare for economic collapse is keep some cash at home and a couple of weeks of food and water, because the first thing that happens is the banks close, the ATMs run dry and there's a run on the food stores. Last year, Latvia didn't even have an economic collapse, but still had a panic rumored to be fueled by social media that caused a run on the banks and drained the ATMs. You're not going to be able to outrun Twitter or Facebook. A good first-hand account of what happened in Argentina in 2001 is the book The Modern Survival Manual by Fernando Ferfal. I read it because I wanted to know what happens in a "modern" economic collapse. The difference is, ours may be worse because we're too big for anyone to rescue.
Well, I don't own a gun yet. My dad and I are going to the range on Wednesday...maybe I can talk him into letting me have one of his guns. I know he has a couple of old Colts and whatnot. Otherwise I am looking at a HiPoint handgun. I know it is not the highest quality gun, but it is 100% American made and I have heard decent things about them. I even had one gun guy tell me he preferred the HiPoint to the Sygma. Aaaaanyways, I am looking at buying more silver / gold for economic collapse, but also as an investment if this ship turns around and we get back on our feet. For instance, I have my eye on a 2003 Silver Proof Set being sold at basically the silver melt value. I figure I am getting a decent price on the silver, but also getting a collectors item. Thank you to everyone who has contributed to this thread, and please if you have anymore insight or advice please keep it coming! --Rob.
Off topic but anybody that has the reverse of the Walking Liberty Half for their avatar has got something going for them. That's the toughest looking Eagle that has ever been put on a coin, one mighty bird!
