http://gonzalolira.blogspot.com/2010/10/signs-hyperinflation-is-arriving.html
I've been buying as much as I can afford, like a savings account, of small approximately 1/4 oz foreign numismatic coins, like the Mexico 10 peso gold coin, or the Colombia or Uruguay 5 peso, or the UK gold Sovereign, since late 2008. Wish I had been able to afford more than I've got. Better storage of wealth than anything else, although tools and ammo are pretty good too. The gold is more portable, and probably easier to exchange...
Dutchy sez,
ReplyDeleteDon't short owning silver either. Pre-1964 US silver coins are 90% pure. Silver has jumped from about $17 per oz on Jan. 2010 to its current $23.50 per oz today. That's a 38% increase! Realistically, how can it go down in these uncertain times?
Silver is a good alternative to gold in that it is currently still underpriced, enjoys universal recognition in old US coins, anybody can afford to buy at least a little, and it might turn out to be useful for day to day purchases in the under $100 range. Gold is often just too valuable for buying everyday goods.
I agree 100% about silver. I am in the process of liquidating a 401k, paying off the taxes, and just have to decide what proportion to buy in gold, what in silver, and whether to include rhodium, platinum, or palladium in any significant amount (not that i'm going to have all that much after taxes). Anyone have any opinions?
ReplyDeleteRemember guys, gold and silver can go up and down in dollar value, but unlike a stock, gold will never be worthless. The same cannot be said with surety about a stock or the paper dollar.