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BarneyFag
1st October 2010, 04:18 PM
Mentioned it to my wife before, but she kept saying wait for it to drop back below $1,000. Well that hasn't turned out to good. We have saved a little over $3000, so not a major investment, but my daughter is only 2 years old.

We have bought alot of Silver, so we do not want to buy her Silver, she will get that anyway. I talked to friend of the family who owns a Jewerly store and he told me, get the money in hand and be within 30 minutes, to lock me in on on a good price.

Never bought anything from him and he's not a coin dealer, but i'm hoping he has the connections to get me a good price. I have also read here about the dealer selling at spot until october something.

Anyway should we wait any longer or just jump in?

MNeagle
1st October 2010, 05:26 PM
You gotta start sometime.

If any of us really 'knew' the future of metal prices, I doubt we'd be here! I say go for it. You can always dollar-cost average later if there any dips.

ETA: This is assuming you're well prepped in diapers, food, ammo, et al, AND have a secure cash savings/cushion for yourself as well...

BarneyFag
1st October 2010, 05:47 PM
Diapers yes, plus we are having another baby next this month. This is my daughters money, in her own bank account, so I would never consider it part of my savings or spending it(not sure if buying Gold is spending it).
We don't have alot in savings, not much ammo and enough food for a week. So no not really prepared.

MNeagle
1st October 2010, 05:55 PM
First of all, congrats on #2! Hope it's a healthy & happy delivery.

Man, that is tough. Personally, even though it's HER money, I'd keep it at home securely, NOT in a bank.

Worse, worse case scenario, you have to 'borrow' from her in an emergency situation. Would it be easier to borrow gold or FRNs?

Hopefully you'll get more advice than just mine. But also, sometimes, you just gotta go w/ your gut. Your wife's was a little off. No offense.

madfranks
1st October 2010, 06:35 PM
About two years ago when my daughter was two years old I spent $1500 or so on preps (cases of #10 cans of rice, cereal and freeze dried food mainly). Now two years later, what would I rather have? Gold, or cases of food downstairs? Obviously, seeing that the S did not HTF over the last two years, I'd rather have the gold, but the peace of mind having extra food just in case is always a good thing.

MNeagle
1st October 2010, 06:43 PM
MF, I imagine you spent your money though...

Maybe he should go 2 oz AU & the rest FRNs.?

undgrd
1st October 2010, 07:12 PM
I recommend one denomination of each gold eagle from the year she was born.

bellevuebully
3rd October 2010, 04:01 AM
I keep looking at the thread title and seeing.....should I trade my daughters for gold....hahaha........makes me feel like I'm back at old gim1, hahaha ;D


.....theyz is gold nutz.............

BarneyFag
3rd October 2010, 02:52 PM
First of all, congrats on #2! Hope it's a healthy & happy delivery.

Man, that is tough. Personally, even though it's HER money, I'd keep it at home securely, NOT in a bank.

Worse, worse case scenario, you have to 'borrow' from her in an emergency situation. Would it be easier to borrow gold or FRNs?

Hopefully you'll get more advice than just mine. But also, sometimes, you just gotta go w/ your gut. Your wife's was a little off. No offense.


Thanks, I guess best case is if her money is in Gold, it will be alot harder to spend it. My only concern right now is the stock market I would like to see it drop a few hundred points and see if Gold will be affected.

MNeagle
3rd October 2010, 02:56 PM
I don't see a stock market correction until after the election. Then look out below!

But, I'm not an analyst either, DYODD...

Trinity
3rd October 2010, 02:59 PM
I say wait two weeks.

BarneyFag
4th October 2010, 04:27 PM
I think today proves a little that the market and commodites are tied together. I will wait just a little longer.

MNeagle
5th October 2010, 09:21 PM
any news?

BarneyFag
5th October 2010, 09:28 PM
I'm waiting, it's killing me watching it go up.

Ash_Williams
6th October 2010, 12:17 PM
If it were me I'd go for something that wasn't a precious metal. I'd really look at nickels (the copper and nickel ones) if possible. $3000 in nickels is heavy, but actually doesn't take up that much space. If you put $3000 in gold then when the kid is 18 (or whatever age you officially turn it over to her) then that could be $1000 or $9000. $3000 in nickel and copper, I imagine would be much safer, and because these are face-value 5c pieces there is almost zero risk (you would need inflation + really cheap nickel and copper to lose on this.)

You also have something that is unlikely to be stolen (It would be about 600 lbs I figure, or you can break it up and hide it in different spots), and your daughter is unlikely to go cash it in on a whim to buy a trip to france or something. When it is time to cash it in, it can be done in small amounts so as to stay under whatever $ value is required for reporting transactions in the future. You may also be able to cash this in at a metal yard rather than a bullion dealer (the problem with bullion dealers is that if you don't know they, more and more are making a habit of taking down names and requiring you to show ID.)

BarneyFag
6th October 2010, 10:32 PM
About the nickels and pennies, I see the upside, but you can't just scrap pennies at the local copper scrap yard. So who is going to buy pennies and nickels over face? And how am I going to buy just those years of pennies in such large qualitites? You can answer, but i'm not going to do this for with my daughters money.

Ash_Williams
7th October 2010, 07:19 AM
I didn't mean pennies, just nickels. Anywhere from 1946 to 2010, so all you need to buy is rolls of them. If they ask tell them you use them for playing poker.

I'm in Canada right now where the pre-82 nickels are 999 nickel and can be sold for more than 5c. It's not a challenge at all to move them. You're not *supposed* to be able to scrap these things, but again, it's not hard in the least to move them.

I didn't really think you or anyone else would do it, I just though I'd throw it out there. If you want to make money, you gotta be ahead of the crowd, buying the things people dismiss as stupid or pointless. That's not gold anymore (I get two emails per week from old contacts asking me where to buy gold now!) Nickel and copper are two of my exits from gold and silver.

When I got my first bags of canadian silver, my girlfriend at the time thought I was an idiot for the amount of time I spent counting out dimes and quarters and making sure they were all silver and sorting between the .500 and .800 silver coins. What was the point? Silver had run it's course and it was a cheap metal for cheap jewelry, she thought. That's what made the potential so good back then.

gunDriller
7th October 2010, 09:59 PM
i would say, spend half now and half later.

which basically means spending $1300+ on 4 1/4 ounce Gold Eagles (if you're in the US) or 1 x 1 ounce Gold Eagle.

and buying about 20 ounces of silver. $500 for 20 Eagles.

then waiting for a correction - if it occurs - to load up.

it's possible that you're buying at the beginning of one of the bigger up-slopes in the price curve which means waiting is not a good idea.


to use a little more round numbers in a hypothetical scenario - you can get 7 ounces of gold for $10K at the current prices. $1300+ per ounce.

if you pay $1250 each, you can get 8 ounces of gold for $10K. $1250 would correlate to a major correction, which very well may not happen at all.

in the long run, the main thing is to have 7 - or 8 - ounces of gold. that's better than waiting. if you wait you could end up with 6 ounces of gold for a hypothetical $10K investment. or 5 ounces.

there's a good chance that the price of waiting is 2 or 3 ounces of gold.

again, that's for a hypothetical case with a $10K budget.


so i guess i'm suggesting to spend as much as $2K now and to hold the other $1K for a price correction that will allow you to buy more. or maybe a good deal on Craigslist. sometimes people sell circulated silver dollars etc. for really good prices.

Liquid
7th October 2010, 10:14 PM
i would say, spend half now and half later.


I like this idea. Personally, I would buy 4 gold sov's and the rest in silver. Sov's are the perfect fractional gold, imo. Then bury the whole lot, 20 years later, would be a very nice day digging it up for your daughter.

BarneyFag
8th October 2010, 03:31 AM
Thanks, we talked about the fractional last night, but because of premiums, wife really wants 1 oz. So we are going to buy just 1oz, to start. I'm going to look at the 1/4, I was telling her 1/10.

I'm trying to time this as much as I can, I don't mind taking a small short term loss. Dollar index going up, stock futures down, PM's going down as of right now.

gunDriller
8th October 2010, 08:36 AM
Thanks, we talked about the fractional last night, but because of premiums, wife really wants 1 oz. So we are going to buy just 1oz, to start. I'm going to look at the 1/4, I was telling her 1/10.

I'm trying to time this as much as I can, I don't mind taking a small short term loss. Dollar index going up, stock futures down, PM's going down as of right now.


i think the whole point is to have something you can give your daughter that will help her get through college.

e.g. for my 13 year old niece, a half roll of 1/4 ounce Eagles will help her get through college in 5 years. expecting gold to be in the $2000 to $4000 range then.

since your daughter is about another 10 years behind my niece, a half roll of 1/10 ounce fracs, that would be 25, 2.5 ounces. then she can cash in a 1/10 ounce one or 2 at a time to cover expenses semester by semester.

the thing is with a 1 ounce, to recover the value, your daughter would have to cash it in all at once, and might have to pay some kind of income tax since she would get such a big check, probably.

mike88
8th October 2010, 12:58 PM
higher premium now for less capgains tax later. 10 oz silver bars, 1/10 gold pieces, 10 gram bars. 600.00 frn reporting shows how desperate the fed mafyia are for revenues.

BarneyFag
25th October 2010, 06:43 PM
I bought a 1 oz. maple and a 1/4 oz. Eagle.

tekhen
30th October 2010, 01:11 PM
if you dont have alot saved for 'yourself' at this moment, Ag will be a good alternative savings account for your children as well. IMHO, Ag has a better percentage swing than Au in the future.

the best to you and your family

StackerKen
30th October 2010, 01:52 PM
I bought a 1 oz. maple and a 1/4 oz. Eagle.


Good move Barney.


We don't have alot in savings, not much ammo and enough food for a week. So no not really prepared.

Now, use some of your own money and get a 50 pound bag of beans and a 40 pound bag of rice.
4 or 5 5gal buckets to store it in and some bottled water.

Just in case.

Then start buying a little extra canned food each time your at the market ;)

Stock your pantry...it feels good to be prepared.

StackerKen
30th October 2010, 01:56 PM
if you dont have alot saved for 'yourself' at this moment, Ag will be a good alternative savings account for your children as well. IMHO, Ag has a better percentage swing than Au in the future.

the best to you and your family


I use ag as my "other" savings account. I had to make a withdrawal a while back cause I was out of work awhile. I was glad I had it there. now I am working on stacking again. hopefully I won't need to make any more withdrawals again for a while

BarneyFag
30th October 2010, 06:10 PM
Thanks, my daughter still has some money, so we will continue to watch the dips and for myself as well. I'm always buying Silver, just slow and steady.

1970 silver art
1st November 2010, 04:14 AM
if you dont have alot saved for 'yourself' at this moment, Ag will be a good alternative savings account for your children as well. IMHO, Ag has a better percentage swing than Au in the future.

the best to you and your family


I use ag as my "other" savings account. I had to make a withdrawal a while back cause I was out of work awhile. I was glad I had it there. now I am working on stacking again. hopefully I won't need to make any more withdrawals again for a while


The people who have gold and silver and consider that as their "savings account" have more options than a person who just has an "FRN savings" account. That is good that you have that option Stacker and I applaud you for having that option and being able to use it when you had to.

tekhen
1st November 2010, 03:27 PM
The people who have gold and silver and consider that as their "savings account" have more options than a person who just has an "FRN savings" account. That is good that you have that option Stacker and I applaud you for having that option and being able to use it when you had to.


a physical PM savings acct and/or emergency-rainy day fund have been a good idea since... Au and Ag have been money. Too bad this premise was taken away from us before many if not all here was born.

I am FRN poor