Silver investment

[TomW]

I was wondering if anyone has invested in silver coins at all. I keep reading all the americans going on about getting pre-'65 silver quarters etc as a guard against hyperinflation and/or economic meltdown and with a bit of investment potential thrown in. I'd like to do something similar and was just wondering if anyone had any reasons not too or suggestions of how too. I'm looking at silver sixpences and threepences at the moment but I'm open to sugestions.

Im aware you cant eat it but its also hard to find a wallet big enough to hold cans of food In an ideal world I'd buy property but I can only afford to do so much at a time.

Thanks all

[Ian]

I have a few kilos of silver coins put by a few years ago. But, it is now very costly.

UK silver coins minted before 1920 are sterling silver (92.5% silver). I purchased mine from a local coin dealer and paid just little over the published price of silver for that day. He culls out the sterling coins from what he is given and as they are worn they are worthless as coins, their only value is as silver so he normally sells them to a bullion dealer by weight as scrap and so was happy to sell to me.

[metatron]

I have some silver, but the cost is way too high at the moment. The money would be better spent on other supplies for trade imo.

[Triple_sod]

Prepping/SHTF wise: I think your generally better off spending the money on food ect, every time. People will say precious metals are a guard against economic meltdown, but realistically they’ll only take you as far as the collapse of fiat currency. You’re still totally reliant on being able to spend you gold or silver after the fact. So I believe in cutting out the middle man and getting the stuff now while it’s still for sale. As for having a bit of silver on the side to use in barter, that’s different. Although again I can think of many things I’d rather spend my money on. £100 would probably buy you 1000 disposable lighters or just over 4 ounces of silver. I know which I’d rather have to trade with after a collapse.

As an investment: that’s not really my area, and clearly some people will have done well out of the skyrocketing prices we’ve seen. Then again though in order to do really well you’d either have to plough some serious money in, or pray for another massive increase. I mean if I’d bought a grands worth of silver a few years ago I’d have doubled my money, would have been a nice little windfall but nothing spectacular. One the other hand when I was I started uni in 2008, I was really tempted to take that maximum £15k loan your allowed and put it all into gold, cash it in after I graduated, but I bottled it......that I regret...

If you do want some though, I think what Ian said is a pretty good place to start. I also remember eBay had some real bargains a few years ago but last time I checked the going wasn’t so good.

[Red Doe]

I agree with Triple Sod....mainly because why do folks keep silver or other metals if not to barter or buy goods they would want to consume in a SHTF scenario?
So I would rather spend money on food, fuel, clothing, whatever I would need after any crisis (meds, tools, what have you, y`know?) since, as he said, it cuts out the middle man who is bound to want to make a profit.

[pseudonym]

I put some money into silver rounds, purely as " get out of jail" currency if required.

Still sticking to fixed rate ISAs giving a nice return and ploughing the interest earnt into preps.

As a real "gamble" have some Premium Bonds hoping for the big "win"

As I live alone have no other outgoings/responsibilities I feel safe where my Pension and my spendings are concerned.

[andy prepper]

The only people who really profit out gold and silver is people who can invest lot money into it or people who spread bet on gold and silver going up and down. Silver or gold is good hedge of inflation so if price of food or energy goes up, your metals hopefully riseing in price due beeing seen as safe bet we cover you for that. After all said and done though I would invest in beans, band-aids and bullets first as they we be real currency if there ever full blown doomsday type scenario.

[pseudonym]

Latest Prices:

Gold:

http://www.kitco.com/charts/livegold.html

Silver:

http://www.kitco.com/charts/livesilver.html

[Cougar]

Invested in a little silver for barter but it really is just to expensive at the moment.

[TomW]

Thankyou for all the advice! I think I'll just be expanding food and fuel supplies after all! Once I run out of storage space I'll think about alternative currency again