Gold/Silver Please Explain & Advise For TEOTWAWKI

My two cents is also "Leave a year early and you are doing good, leave a day late and you are toast."

 

I will probably buy some gold shot.

 

The first review says it is garbage and does not block signals- Totally and completely worthless! I put an fm radio in and it still worked. I then put a walking talkie in and the walkie talkie worked just fine. I then put my cell phone in the bag and sent text messages. None of the signals that this is supposed to block got blocked. Worthless!

I heard this advertised on Glenn Beck Friday afternoon. Goldline was closed by then so I have not called them but I do like the concept. I have worked with Goldline before and they are very professional.

 

Motomom,
I'm a bit worried about GoldLine and their website. It appears they have no prices listed on their website. Also, it appears that you have to contact goldline to place an order. So of course I filled out their little form to have them contact me.

I'm looking at this product.
Legal Tender Gold Bullion | Goldline Exclusive Bullion Unit
according to their verbiage on the coin .. they worked with the Perth mint to design this coin and are the exclusive dealer of said coin.

But that's not the case .. JM Bullion is also selling the coin. 1/10 oz Australian Legal Tender Gold Unit

Your experience may have been great, but I'm suspecting they are over priced. maybe not on this product as even JMB has a 250 spot premium on this product.

I'll compare 1 ounce gold and silver eagles and report back.
I'm also going to get a price for the mapleflex product. It's 2 ounces of silver so .. 30 dollars metal content .. I'm betting way more for manufacturing cost and premium.

 

@VisuTrac @Motomom34 and others... I am a bit confused here. There are retriable vendors like APEX and others to purchase gold (Hell, just ask @oil pan 4 where he gets his) so I think I am missing something. Are you saying that counterfeiting is prevalent even from the major sellers? A one time discovery of counterfeiting would ruin any major company for good so...

Also, would not Eagles and Buffaloes be better coins (more recognizable, easier to confirm, more acceptable, etc.) since we're in the states?

I'm just thinking out loud here and still learning...

 

Even if what you purchased is genuine, how does someone who purchases from you know it's genuine?

 

I got a 50gm gold bar from apmex that tested wonky on the inductive gold tester.
It was either 22kt gold or had a tungsten rod on it. Apmex took it back and insisted it was 100% real 24kt Au.

I say get one ounce or smaller and only buy pressed and finished bullion and coins or gold shot.
No poured or over 1 ounce anything.

There are multiple low tech to no tech methods to test gold.

 

Well, in my case, I was considering purchasing gold coins, Eagle or Buffalo, directly from the mint via a reputable, major dealer. My understanding is they are tracked and certified so they probably come with some sort of certification documentation. When time comes to sell, it would not be to some guy on the street for barter or etc. but again to a bank or major player in a rather large amount, say 30-100+ coins to convert it to land or the fiat paper of the day or whatever they are using as convertible barter. For me, gold is nothing but wealth insurance, a more permanent and portable means to preserve one's wealth. Now, I am assuming that the major players (banks, financial institutions, corporations, etc.) have a means to confirm and verify what I am selling them. I think that is a fair assumption; however, maybe I am missing something but people have been trading gold since modern man got on his/her hind legs so I am assuming (and maybe assuming incorrectly) that given experience and the technology of today that somehow, someway, it can be verified.

I cannot see using it or any precious metals for trade/barter in a SHTF scenario for as you say how does anyone "know it's genuine?" Perhaps old silver dimes, quarters, half-dollars but chunks of PM? No.

 

@oil pan 4 "I say get one ounce or smaller and only buy pressed and finished bullion and coins or gold shot.
No poured or over 1 ounce anything."

Please state why 'one ounce or smaller', be specific as possible. Experience is worth its weight in gold and you have a lot in this matter. For example, why "only buy pressed and finished bullion and coins or gold shot."?

 

The bars larger than 1 ounce are the ones most commonly being drilled or hollowed out and filled with tungsten.
That poured 50gm apmex bar is a perfect example of something counterfeiters like to hollow out.
Finished coins and pressed bullion are more difficult to drill out because they are thinner. The machine finished smooth pressed edge is more difficult to cover up than a melted bars edge.
A 20 gram gold bar is a pretty safe bet.
With shot no one is going to drill out industrial gold shot. The assumptin is someone buying gold shot is going to quickly melt it down and use it to make something and would find out its fake unlike a coin or bar where it could be years before the buyer finds out its fake or it may even change hands a few times before it's found out.
Plus how are you going to deal in small amount of gold?
You don't want to buy 1gm bars unless you like getting screwed. The spot fees on the tiny bars like 1gm, 2.5gm and 5gm just about doubles the price per ounce.
Better off just buying shot.
If you are thinking about buying anything smaller than 10gm just buy shot.

And most banks don't want anything to do with gold these days. They just want fiat bulshit they can manipulate.
Banks can do all kinds of financial gymnastics to make it look like they have more fiat money than they really do.
Gold, you either have it or you don't.

 

Thanks! Please write on if you have any other tips/advice. Personally, I am sticking to coins but you do have me interested in gold shot now...

 

I'm mostly looking at coins now too.
During my big gold sell off I kept most of my 20gm bars and all my smaller ones.
I have not bought any gold shot before, I will likely buy from apmex when I do.

 

@Motomom34 et. al.
Well Goldline called me today.
Yep, they have the largest premium I have ever seen and that includes the local ripoff pawn shop.
MapleFlex is 58.10 each and you have to buy 10. So 28.50 worth of Ag. and the rest premium/manufacturing costs of 29.60 (104 percent over spot).
I asked about Gold Mapleleaf coins in 1 ounce. Oh. My. god. 1570 per one ounce coin with free shipping. Seriously, at a 370 dollar premium (30 percent over spot), they should drive it to my house and bring me a free quarter ounce of gold to boot (well maybe not if they drive it all the way from California)

I'm going to say, if you have the cash, go with your LCS or one of the big houses (pick any one that actually advertises their price and the spot price of said commodity)

My impression is that they hope you don't know the price of the underlying commodity cause if you do you won't be working with them.

And I thought cars had the worst depreciation ever. My opinion has now changed to PMs bought here.

Just my experience.

 

Gold line doesn't show prices because if you have to ask you can't afford it.

 

that's why I asked .. so I could also warn.

 

Word on the street was always "avoid goldline" so I did, never questioned it because of the source.

 

I called them also and got a price. Yikes! but I really do like the concept that I can easily break silver into measured units.

Todays price for the Mapleflex is currently $56.28 so a box today would cost $2,814.00

 

Yeah you can get a hammer and cold chisel and cut them in half or quarters.
Because of the value of silver and the fact that I bought dozens of half ounce bars from the local shop I am not planning on needing silver shot to make change like I would with gold shot.