If it's not in your possession, you really don't own it.
While I can buy them cheaper online, this gives me the advantage of no paper trail, which is worth the premium. Our plan is to buy at a steady pace as a hedge against inflation, and as an inheritance for the boys. If the government doesn't know about it, then they can't tax it unlike bank accounts. A direct transfer of wealth without government involvement.
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It'll be a hedge against inflation, and our government's economic policy.
As a side note, Row has already given XXX a nickname: Dr. XXX. Hence forth Noah will be known as Dr. on this blog, and all previous posts will be changed accordingly. [time permitting]
Keep Right On Prepping - K
It's as good a plan as any. I have a vague notion that at some point in the past the government confiscated gold coins, and made their possession illegal. I hope that they don't do that with silver. I am a believer in tangibles as well. I got well and truly screwed in 2007. Did everything right, invested conservatively, and lost my ass.
ReplyDeleteIf they make silver illegal, I guess I'll be a criminal.
DeletePhysical silver is a good play. I doubt it will ever be on the government confiscation list like gold and it is low enough value that it isn't like spending a 500 bill for a pack of chewing gum. The only thing I can think of that gold might be a better choice is for bribes to government officials if things got that far.
ReplyDeleteWhen silver uncouples from the downward manipulation it currently receives the price should rise quick too.
The only thing I don't like about it is it is very hard to find anyone that will buy it from you if you need the cash at anything even close to spot. Because of this the last few years it has been a net wealth loser if you had to try and cash it in because the market prices hasn't varied much. It's been three years since silver gained up into the 50 in ounce range and it's been sitting about 19 or so for a while now.
I'm in for the long haul. I know that silver hasn't historically kept pace with inflation,but I'm comfortable with it as an insurance policy. Never mind that we have rental property, and 401K, and ROTH accounts. Precious metals was our last play into the long time horizon.
DeleteMy folks, Grandma, and Aunt, (dad's side) put together a plan for assets to avoid all that fine government intervention. I know they read a book or two on probate. I had moved out by that time and don't know what they decided on. Could you buy land and put it in their name??
ReplyDeleteI can get free legal advice from a trusted family member on this matter. When we buy homestead property, I plan on having several parcels for sons and family.
DeleteI don't think you can go too wrong with silver in the long run. I don't think a shoe box of dollars will do much good.
ReplyDeleteFolks silver was confiscated a couple of years after gold was back in the 30's. I can't remember the number of the executive order, but I have looked it up previously and read it.
ReplyDeleteNow whether they would do it again is anyone's guess. But they have done it once before.
But I wouldn't let it stop you if that's your chosen course of inflation protection.