Message:

<p>[QUOTE=&quot;calebmurphy, post: 3233366, member: 99270&quot;]Interesting stuff, great education. </p><p><br /></p><p><br /></p><p>But this could happen with any rollover.&nbsp; I don&#039;t see how this would be my problem if I never took a penny out of it and in the documentation I signed it states that its an eligible IRA account.&nbsp; I had two feasible options, roll this old 401k into my current 401k or diversify it into something else. I remember what happened to this 401k in 2008, and sure I saw it come back with time, but what if I had been in metals at that time, I wouldn&#039;t be looking at 15-25% increase on my best years but possibly easily a 100% increase, possibly 200-300% based on the values of silver back then. I dont know what it takes to sell it or if anybody will buy when it gets that high. Lear Capital has ensured me that it will be done. Do I trust them completely? NO! Do I trust them as much as the untouchable 401K where it was at or my current 401K? Probably. I trust them more than my electric department. </p><p><br /></p><p>I&#039;ve traded currencies, commodities and stocks in post tax accounts. I&#039;m familiar with gold and silver in that aspect, but it was all a paper/computer process. The idea was that, buy gold or silver at the market price with the old 401K money so if the economy tanks and my current 401k starts sucking it up, the metals will hopefully increase. Even if they dont increase and decrease, I&#039;m pretty sure that everybody here would say that unless there&#039;s a total collapse it&#039;ll never be worth nothing. In the case of total collapse I am as prepared as I can be right now. I will be very wealthy at that point and not be worried about your gold or my silver or any 401k I&#039;ve ever had. </p><p><br /></p><p>What I&#039;m questioning is, what is the difference between buying 3500 ounces of silver bullion for $50k and buying 3000 nondisclosable 1 ounce coins with a semi numismatic or numismatic value? Because one of the positives about buying less silver for more money was that it was nondisclosable whereas the bullion prices were basically at that market price of 14.75. The coins were almost double that. I understand why they are more, each 1 ounce coin is crafted, minted, and collectible due to its rarity and a bunch of other factors. But if I am to buy a 500 ounce bar of silver, it is somehow disclosable. Why? </p><p><br /></p><p>If the price of silver is $15 an ounce, I know exactly how to sell your extremely rare $1 silver piece that&#039;s worth a million dollars for $14 or whatever the buy price is at the time. Go down to any local pawn shop that buys gold and silver and sell it to them or trade for $20 an ounce. I&#039;ve done that. If you show up with it there gonna buy it for what its worth minus some for the buy/sell price. So what I&#039;m wondering really beyond the 401k that may or may not have been the best idea is: If I set aside $100 a month to buy these seminumismatic coins that are near the price per ounce of bullion silver, would that not be a wise investment? We know it wont tank like plenty of stocks I&#039;ve invested in... And its almost a guarantee that it will go up in value if the dollar goes down in value... I buy 5 1oz silver buffalos a month (post tax) for 2 years and end up with 120x1oz coins. Then a market correction, crash, whatever that doesnt leave us in an ice age, but my current 401k dips to 60% of it&#039;s original value. Silver jumps up to 30 an oz. And that&#039;s historical. It happened. Then what&#039;s to keep me from taking 120 silver coins in to the pawn shop on the corner and selling them for $3500ish depending on what they buy at, when I paid on average $1800 for it? And what is the difference if I had bought 1x120oz bar of silver bullion and sold it in this same scenario? Because we know the 120oz bar is &quot;disclosable&quot; or &quot;reportable&quot; and the silver buffalos are not. Again, I&#039;m not trying to cheat, I&#039;m trying to understand.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in