if *it happens, how do you sell gold fast to get food?

[upi402]

If the USD devalues and inflation skyrockets, how do you sell gold coins to quickly buy food or plane tix or whatever?

[BlooInBloo]

1. HAHAHAAHA!

[upi402]

5. Thanks brother

Good luck to you anyway. I hope I'm wrong, just been right for years now. Even before fighting NAFTA.

[rcrush]

2. Send it all to me.

I'll mail you back some money. Honest.

[Duer 157099]

3. Take them to your neighborhood coin dealer

they pay the going rate

[upi402]

4. Thanks, numismatics must give under spot though

Do you know how much to look for?

[Duer 157099]

7. Call around the various local shops, they all do their pricing differently

but in almost all cases, it's based on that days spot price.

I forgot what the spread is, but it's not much (sell price vs. buy price)

[aquart]

8. GOOGLE

<http://www.google.com/search?hl=en&q=gold+price&aq=0&oq=gold+>

[upi402]

14. Thanks, shipping and turn-around is what I want to avoid

Kitco took forever. I bought one on ebay and it was quicker. Ribs would be showin' and the Republicans would surround us by then!!! :hide:

[aquart]

33. Check the current price online, go local and haggle.

[JDPriestly]

53. A woman comes around to my house regularly. She asks whether I have gold to sell.

I wouldn't tell her I did even if I did. What a way to find out whether a house is worth robbing. Anyway, the French hid gold for a long, long time and managed to sell it in times of need. Gold, diamonds, watches, jewelry. Throughout history, those things are the currency in times of social upheaval, migrations forced by revolutions and other violence. They are the currency of last resort. So, don't worry about it. Don't put all your money into gold coins. But have a little something just in case. I base this on my knowledge of history and of how people I have known survived in various political upheavals and not on my personal experience.

[1]

6. that is very easy. the conversion goes like this...

you are hungry and you bring your gold ingot to the person who has food. the person who has food offers you a loaf of bread for your gold ingot.

you, insulted, walk away from the deal for a day or so until your stomach is growling. you return to the person who has food.

this time the person who has food offers you a half-loaf of bread for your gold ingot.


if things get bad gold is a just pretty piece of metal. its heavy to carry and you can't eat it.




blerg. can't spell...

[vadawg]

9. bingo, you would be better trading the ingot now for a carbine and ammo

at least then you could shoot something to eat, or use it to barter ahem for food.

[Oregone]

11. Its more than a pretty piece of metal

Slip one of those to the future Gestapo and they'll slip you out of the country. It always has value to *some* people somewhere for something.

[upi402]

12. Next day I come back, a bit weakened

and whack the bastid over the head with a pipe for acting like a fool Republican. lol

Any fool can be nasty, brutish, and cold, That's why I want to get from gold coin to plane tickets _fast_ if need be.

[1]

16. oh, i thought your were talking about when things got "bad"...

not just-sort-of-bad or starting-to-get-uncomfortably-bad...

in functioning economies gold has value. in non-functioning economies, gold is only worth what people acting like a fool republican will give you for it. and in non-functioning economies every one acts like fool republicans. plus, the planes stopped flying a long time ago.

gold has only a limited value as things start to go south. the farther south things go, the more gold becomes a piece of shiny metal...

[upi402]

24. gold gets you outa war zones, so even IF it got THAT bad...

you could get a plane out.

Hell, all flights were grounded after 9-11 and the elites from the country that attacked us, Saudi Arabia, were flown out.

Planes will fly if there's some cash to make, I figure. Russia and Africa come to mind.

I think crime and violence will go up and will bring repressive police action. The Republican/New "Dem" media will hype some story about a blonde girl getting killed for food, phone, jewelry, ??? and God fearing Americans will demand action from the government. Maybe Blackwater will save us from ourselves!

At that point I want to be able to fly us out while everyone continues to pretend everything is okay, ad infinitum.

[1]

39. if it gets to the point where you pay for things with gold, there will be no air flights...

private planes, perhaps, but the airlines will be long shut down. planes just don't fly without entire networks worldwide to support the planes. mechanics, air traffic controllers, ground crews, pilots, cabin crews, the folks that supply jet fuel, etc. all that work for paychecks... what are you going to do? personally give a piece of gold to each of these folks for your private escape?

you need to rethink your escape plan and pull the trigger much quicker than you expect. like tomorrow, while things are still working pretty much as normal. otherwise if you wait too long, you ain't going to be flying out to anywhere...

[upi402]

47. Yeah, probably private if we wait too long.

No, I am usually a little ahead of folks that watch TV news. My problem has been my listening to cooler heads (that were in the sand as it turns out).

I'll get out, the day the flights look to be rapidly decreasing. YMMV, not suggesting it for anyone else.

[1]

50. HA! that's why you need to listen to me. RUN! RUN NOW!

:rofl:

[Syrinx]

25. that was basically the plot of an episode of "The Twilight Zone"

It involved gold thieves that put themselves into suspended animation for a hundred years to evade the fuzz. When they awoke, the thieves turned on one another. They were in the desert, and one thief began charging the older, fatter one ever increasing numbers of ingots for another sip of water. As it turned out, the gold was essentially worthless anyway, because synthetic gold was commonplace. Good episode.

[NYC_SKP]

40. Yes, as I recall the people of the future pulled up to the bodies in sleek vehicles...

silvery spacecraft or hovercraft, and that's when it's mentioned that gold is no big deal any more.

:P

[Syrinx]

52. you got it!

I love that show. I wonder why the networks quit doing anthology shows? I love Twilight Zone and Night Gallery and The Outer Limits.

[NYC_SKP]

56. Me too, the old shows are the best.... nt

[JDPriestly]

54. You can also trade other valuables. I have never had to do it, thank God, but

I know many people, mostly immigrants from war zones, who have done this.

[Oregone]

10. In theory, if the shit hits the fan, you don't need to sell it

You use the bullion as tender. Some coins are actually legal US tender, but obviously their value would not be face value in a worse case scenario. You wouldn't need to sell it though, as you can just exchange it for goods and services. Due to this look at it, some people advise to buy small amounts (tenths of ounces), but the margins are really high on those coins.

[upi402]

13. Fractions of ounces is what I'm looking at now

The Canadian Maple is legal tender in Canada for example. It's also the purest, fwiw.

[old mark]

15. If you have gold you must realise you will be selling to a dealer

at much less than "book value". Jewelers markup is 400%, and I am certain coin dealers are not much less than that.

I have bought and sold jewelery privately for nearly 30 years.

You should have sold it last year, but who knew....


mark

[upi402]

18. But I bought last year and am up $216/oz as of today

Yeah, don't want the retailers getting in on it. More like craigslist or ebay if I can't wait. Coin dealers mark up that much, really?

I guess I don't have as much confidence that the USD will hold as you do, and therefore inflation. Just from what I read, and opposite of what CNBC says.

[old mark]

20. The price is high, but we sold some jewelery a few weeks ago

for slightly over $100 that had cost over $300 several years ago.
The newspaper price mesns little - you won't get that or even close.

I don't have specific info on coins, but if you took a few in to a local coin store and get them to make an offer (and not take it) you may be better informed...
The reason I said last year - fewer people selling. More sellers means lower price can be offerred by the dealer who can easily get more from someone else, has less pressure to buy.
ADDED: The true value is what you can sell it for when you need to sell it, usually lots lower than what it is "worth".


mark

[1]

27. i'm not trying to be a smartass, i just tried to sell some us silver proof sets to coin dealers...

the price of coins/metal is the price they will sell them to you. the price they will buy them from you is significantly less.

significantly less.

to get a good feel for this, take some gold you purchased at a particular price to a gold dealer and ask at what price they are willing to buy it.

you will be amazed. and things are not even "bad" yet.

craigslist or ebay will get you more, because you are the seller. but then you would get us dollars in return.

it is a conundrum...

[upi402]

35. Good reply. The immediate use would not bring much depreciation.

I wonder if some bank will set up something that gives them a wet beak and a little stockpile as a hedge against their own BS games.

[Brother Buzz]

17. A hungry man with no gold will feed himself and family any way he can

I suggest you use that gold to protect you and yours from hungry people without gold. That, or make friends with hungry people and buy enough food for all.

[upi402]

19. lol, true dat. I am thinking plane tix to a less violent and less well armed country.

If we have to evac, I want to dump gold fast and be able to buy plane tickets out of the country.

[vadawg]

21. less well armed, what makes you think that would be better

there are still gonna be hungary people about who will use a rock rather than a gun to take from you. best bet is to go to the furthest reaches of the planet and eke out an existence there. Id rather be armed and my family armed and neighbours to at least try and defend our farms, than sit hoping to be left alone.

[upi402]

26. It's hard for Americans to realize that the rest of the world doesn't think that way

There will ALWAYS be a tougher hombre. A bigger gun. There are huge populations of humans that really don't think like you just mentioned as a hypothetical. I know, I've been to them and can return if it gets like what you describe here. That's my point exactly.

[vadawg]

28. lol what makes you think i am an american by birth, ive lived in areas were the shit

hits the fan, and yes there is always a bigger hombre, but when hunger hits very few people will keep civilised, when your kids are starving you start to think why not just take others food. In most places only having weapons or numbers allow you to keep what you have in the first place, and i dont have that much faith that humanity wont revert to the basic survival needs.

[upi402]

34. You're on an American political board discussing America in upheaval

and talked about being in your valley defending it from city people. So that's what makes me think you're American. I had no thought of where you were born. I was speaking in general. I think you are projecting. Sorry if you're upset.

Again, there are countries that don't have enough food and still help each other. It's hard for Americans to get used to that -not you- other people born and raised in America who don't get out into the world much. 27% have passports and few use them. DU has a poll, 63% have passports here.

[vadawg]

37. sorry mate, wasnt trying to start a fight, but in my experience when resources are finite

people will not share outside of their immediate groups, whether thats family, tribe, village, etc etc. if the shit hits the fan you may not be able to go other countries or societies because they may not want to feed the extra mouths.

[upi402]

44. No worries. I have an "in" to get into other countries, Just need the cash at the desired time

That's all I'm asking about, before the shit hits I want to get to my spouse's country where they know how to struggle together.

Don't mean to make folks think about uncomfortable things and all. Just askin' here...

[1]

30. heh. you are funny... unless you really mean that...

if so, and you really think things are going to get "bad", there are no words for the education you are about to receive...

[vadawg]

32. lol much more succint than i could be, it amazes me how much faith people have in humanity

i dont know who said it but we are all three meals away from chaos,

[upi402]

36. how many countries have you lived in?

[vadawg]

38. too many to count if you include ones ive served in, though i spent my childhood

between Hibernia, Alba, Albion, Basque country in Spain, Balkans, Poland and all places between.

[1]

43. we are talking about when the shit hits the fan. not your college trip to europe...

when times were good.

ugly human behavior is timeless and universal...

[upi402]

45. ugh, you assume a lot about me

You don't quite get what I'm talking about. That's okay, I'm used to that. No, not talking about college trips. I've lived in very poor villages, and coarse urban digs too, in different countries. People didn't have enough food for the day and still worked together for tomorrow.

Believe me, I'm very aware of man's inhumanity to man. That's the very reason I want to be able to get my family outa here if it gets uncomfortable for spoiled, doughy, and well-armed Americans.

[vadawg]

46. i understand what you are saying, but if the worst happens, civilisations will fall

the societies that you have seen may not be so accommodating to you, unless you have skills or something they can use. I have seen what were once peaceful towns and villages at each others throats, neighbour killing neighbour its not pretty, if i were you id just pray that the worst dosent come any were near.

[upi402]

49. I have been. I worked for decades to prevent what's going on now

Money to marching, I did what I could. I don't imagine a Hobbesian world, just a few whacked out periods and events that I'd like to miss. Americans are not used to going without, think about that scenario. Others are more comfortable.

But I do know I'd be an outsider, and people are people, just some are significantly different in their social mores and behaviours/reactions.

[1]

48. hey. peace, friend. i think our mis-communication has been about the word "bad"...

i think i might have a more dire outlook than you.

and it's probably a good thing that you don't.

but just make the move far sooner than you think you need to.

and good luck...

[upi402]

51. Thank you my brother

sister???
:shrug:

[upi402]

41. well i hope i'm wrong

But I've been right the whole way down this bumpy little road so far.

I hope I prepare for a non-event and you don't have to eat you own condesending words

Have you lived in many other countries?
I have. Countries with extreme poverty.

It's dense population you need to worry about, and violent cultures. Watch a Mike Moore flick sometime, they're really good.

[Doremus]

22. World Made by Hand by James Kunstler.

Gold coins ARE currency, along with food, skills, tools and anything else you have that someone needs.

That's after all hell breaks loose of course.

[vadawg]

23. i think i could end up being relatively rich in this environment

ive got skills that even my country neighbours lack, i think the problem would be how to defend our valley from the inevitable hordes that would leave the cities. no idea what society as a whole would do.

[formercia]

29. Not at your local pawn shop

I know where to sell it and it's not cash for Gold.

[elleng]

31. You don't,

unless there are some Sheikhs about.

[Kablooie]

42. Can't do that, but I have an ancient formula that can turn it into lead.

[JTFrog]

55. Take a look at craigslist.org

Apparently there is a new "Gold Party" fad. I know nothing about going prices for gold but these folks "claim" to pay highest prices. The ad I saw said they would come to you or you could arrange a "party" and have your friends come too and they'll pay you 5% of whatever they buy. :shrug:

Obviously one should use caution whenever using craigslist.

I don't have any gold, I just happened to see the ad and it gave me a bit of a chuckle. It seemed a step up from the put your gold in an envelope and we'll send you a check to gather up your riches and we'll send our truck right over...