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Is having 600 ounces of silver good for a 27 year old?

I have 600 ounces so far and was wondering if I am in a good position so far. How much will I need to be secure?

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Q- Is that good?

A-Depends on what your goals are.
Is 600 oz better than none, yes. Is 600 oz good for a 27 year old, HECK YES!! Good on you as most 27 yrs old don’t have 600 bucks.

If you are asking should that be enough money to help you though a crisis that depends on your needs. Be you single, married or family etc. My personal view is you need to have a bi-metal plan. Gold & Silver and Brass & Lead are two bi-metal requirements.

In my humble opinion, and the plan I follow, Gold is wealth preservation and Silver is for survival.

What I mean by that is the gold I purchase is a tool to allow me to navigate my savings from a dying monetary system into a new monetary system. It will be a very difficult transition and I do believe there is a small chance I will need to bury the Au for a few months or a year or two if times are that unstable. As Michael noted the value in gold is easier to carry, hide etc.

The silver, especially junk silver, will be the money I live on during this period. I am prepared for surviving months without having to engage in any commerce however at some point trade will begin between people. Then I will use Ag to negotiate the purchase of things I need be it food, fuel, whatever.

Hope this makes sense and just imagine how many oz you will have at the rate you are going.

peAce

Liberty = Responsibility

Too much

No it's way too much. Give it to me.

Who keeps reviving these

Who keeps reviving these ancient threads? This thread is two years old.

No, because rule #1 is never

No, because rule #1 is never disclose how much you own

Southern Agrarian

Food and supplies will be

Food and supplies will be worth more than gold or silver when tshtf. I plan on stock piling feminine products to use for barter. Can never have enough of those. ; )

robot999's picture

600 Oz

is good for anyone! Good job, but don't forget that you'll need other assets too like: food, water, power, protection, land, etc.

"Government is the entertainment division of the military-industrial complex". - Frank Zappa

I have some physical assets

I moved away from stocks, although I still have a ROTH IRA, 401K, and TSP that I make contributions to.

I stopped putting money towards stocks in my brokerage account and just let my employer match contributions to the retirement funds above. I try to go to the local coin shop and pick up a silver coin whenever I can.

I got tired of getting ZERO return on investment paying rent. I'll be buying a home soon to build equity.

My investments in a nutshell. I forgot the purpose of this comment, but I'm pretty sure it's along the lines of me getting out of stocks and leaning towards real estate and physical commodities.

My Political Awakening: I Wanted to Change the World...
I am NOT Anti-America. America is Anti-Me - Lowkey
How to Handle POLICE STATE Encounters

Michael Nystrom's picture

Not to mention quitting smoking

That is one of the best investments you'll ever make.

Not only do you save a lot of money, you avoid spending a lot on future health problems, and on lost days of productivity from work.

Investment in health is the primary, foundational, #1 investment a person can make.

BTW - Congrats to the Broncos on a good game last weekend. (It was miserable for me.) Good luck in the Sooper Bowl!

Message to the NSA recording and sharing with the IRS

I lost all of my silver and gold in an unfortunate fishing accident. My silver and gold is at the bottom of the ocean. I have no silver and gold.

Tu ne cede malis.

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LIBERTY2ME's picture

Does anyone have any

Does anyone have any experience in Rhodium?

Michael Nystrom's picture

Do you have a safe place to keep it?

If you have to run, how will you move it? If my off the cuff calculation is correct, 600 oz of silver is the equivalent of 12 oz of gold. You can double check that, I'm kind of in a hurry.

But I think 12 oz of gold is easier to both conceal and move, in the event that you have to hit the road. You can sew 12 oz of gold into the inseam of a heavy jacket, and wear it.

It is just one thing to consider?

- - - -

How much will you need to be secure?

There is no such thing as security. Sorry to be the one to break it to you.

Is buying an AK-47 a good

Is buying an AK-47 a good idea just in case the SHTF?

You're doing just fine

Market value for that stockpile is about the same as a brand new Korean car. If I had that much silver, I would start to diversify into gold too.

For me, I'll keep buying 1 oz. rounds until I can't pay the bills or they won't fit in the safe.

What about also stocks and

What about also stocks and real estate? Should we be investing in those too?

This is a legit question. Why the downvotes?

I don't understand the mentality here sometimes.

Michael Nystrom's picture

I don't understand it either

Don't take it personally. It is meaningless. They're strangers - they have personal vendettas, whatever. Don't think twice about it. This is the Daily Paul - it happens (unfortunately). You can't control it - you can only control how you respond to it.

As for the question: Stocks & real estate: Good investments or not?

- - - -

Problem is that it is impossible to see the future. Stocks and RE have traditionally been good investments. In the long run, they have tended always to go up. But will they continue to do so in the future?

Inflationists say yes. The Fed will keep printing money, and that money has to go somewhere.

Others say no: The Fed is artificially manipulating the market, and that can't go on forever. Stocks and RE are floating on the edge of an artificially created bubble. Eventually there will be a crash. And after the crash is the time to LOAD THE BOAT on stocks and real estate.

Think buying stocks + RE in 1932, after the Dow fell 90%, and the Empire State building was only 10% occupied. In the long run, those were great deals.

It is a tough time to invest, because there is a huge, unstable market manipulator right in the middle of the arena (the Fed). So far, they've managed to walk the tightrope, but prices are starting to spiral out of control.

It is a tough call. Not a question to be answered with a few hundred words in a comment on the DP.

There are pockets and areas that are undervalued, both in stocks and RE. I would start there. Good luck.

Michael Nystrom's picture

Warren Buffet's Bible

Is called The Intelligent Investor, by Benjamin Graham.

The whole idea behind it, and therefore behind Buffett's strategy is to buy solid companies that never go out of style that are undervalued. Buy low, and hold on for the long ride. Start rolling a gigantic Snowball early.

But again, with all the excess money floating around, is hard to find bargains.

In my neck of the woods, 2 bedroom condos start at 300K. Personally, that is not my idea of a bargain. But I grew up in a duplex that my dad bought for $18,000. He bought the entire duplex for $18K, then rented out the bottom half which paid off the mortgage.

That is the kind of deal I call a bargain. Those kinds of deals cannot be found in Boston. Not now.

Detroit, definitely. There was an article on here the other day: Why I bought a house in Detroit for $500

Go pick up a bakers dozen of those. Detroit will eventually bounce back, I'm pretty sure of that.

The time to buy is when there is blood running in the streets. As everyone is rushing out of Detroit (and other such places), this is the time, not to rush in, but certainly to investigate.

Again, good luck. Please share with us what you learn.

I have the Red Book

...

that is excellent considering

that is excellent considering 99% of the american population has not even close to that. Strive to get to 1500 ounces. at that point you are great.

I was going to buy some gold

I was going to buy some gold since I don't have any. What do you all think about the British Gold Soverigns? Good coin to invest in?

They are good if the price

is fair.
You shouldn't pay anything more than the spot plus a small premium. Be sure you get to see the condition.
I really like French francs. The condition of these coins can vary quite a bit, as with any hundred year old coins, so I only buy them if they are in really good shape.

When and if you sell gold coins or silver rounds all that a merchant will pay is based on the weight of gold adjusted for how fine the coin. That is long way to say he will quote you a price based on spot. When selling it is usually a reverse premium. Spot minus X.

peAce

Liberty = Responsibility

No, and you are not in a good position with this.

Send it to me now and rest your mind.

hthomas

better than having 0 ounces

better than having 0 ounces at 24... ;)

"My theories explain, but cannot slow the decline of a great civilization. I set out to be a reformer, but only became the historian of decline."
- Ludwig Von Mises

Wow

You've got me beat.

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"The State is a gang of thieves writ large." - Murray Rothbard

very good

600 ounces at 27 is extremely good.

Too bad, more folks aren't awake enough to be doing what you're doing.

On the other hand, if more people were awake, then the price of silver and gold would be far higher than it is currently and we'd be able to afford far less.

You can keep picking up silver, but go for small denominations (junk silver dimes, quarters, and halves) as well as 1/10, 1/4, and 1/2 ounce gold coins.

Before going much more into gold/silver though you really need to diversify and put some $$ into supplies. Stuff like food storage, water purification, guns & ammo, energy (solar, propane, etc.), cooking methods (rocket stove, camp stove, etc.), first aid supplies, sanitation, etc.

While that silver will likely buy you a lot after the SHTF, there will be a period when it could very well be overshadowed by the basic needs of water, food, shelter, etc. You need to prepare for those situations too not to mention that you may have to defend yourself against people trying to take your possessions from you, including the silver.

Good luck!

Our family's journey from the Rocket City to the Redoubt: www.suburbiatosimplicity.com

how soon will we get to use

how soon will we get to use gold and silver as money again? Will we live to see it?

I suppose that depends

on if you survive the collapse - TEOTWAWKI.

I think those who do survive and come out on the other side will get to use gold and silver as money... or at least gold and silver backed currency.

Even before then though, I think there will be more people than you might think willing to accept gold and silver as payment for goods and services in a barter economy because they will be expecting/hoping that once things stabilize gold and silver will be the basis for the new money and they will have quite a lot of wealth stored up.

Just my thoughts... we'll have to see what happens.

Our family's journey from the Rocket City to the Redoubt: www.suburbiatosimplicity.com

If he decided to sell all 600

If he decided to sell all 600 ounces, what kind of commissions could he expect to pay? It's not just $16,000+ in unrealized gains. There are additional costs to buying and selling unless he finds another private party willing to pay current market rates, which seems rather unlikely.

Silver is selling on Ebay higher than spot price

so why would any one pay any commission. All is required is a paypal account.

I own silver and I will not sell because it is real money not the FRN's we carry around in our pockets. The Federal Reserve has screwed the people by getting us all to value every thing by the FRN's. This is a stupid habit that, we as freedom loving people need to break free from.

Gold standard: because man can not be trusted to control his greed

Why would he want to sell now?

Commissions? Almost any coin shop would buy the silver at close to spot price. Heck he can even get on one of many online metal detecting, coin collecting, etc. forums and find very ready buyers for his silver. He doesn't have to go through some kind of broker or consignment process.

Selling the silver now to get $16,000 of FRN's, which are becoming worthless at a faster rate every day, makes little sense though unless he's in debt or needs the cash right now for other stuff (e.g. supplies such as food, water, guns/ammmo, fuel, etc.).

A better idea perhaps, if he wants to unload his silver, would be to take that 600 ounces of silver and trade it for some land. He could probably get 5 acres (or more) of decent land which would probably serve him far better than $16,000 of FRN's in the long run. I'm sure there are many folks trying to sell land who would jump at the prospect of getting silver for their land rather than dollars.

Our family's journey from the Rocket City to the Redoubt: www.suburbiatosimplicity.com