# Newb money question



## midwestmom (Jun 24, 2014)

We have older silver coins (more for the kiddos "cool" factor than anything else, not numistic at all) that could be used if needed. How many coins/silver is a "good" goal for a hedge your bets sort of thing??


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## ZoomZoom (Dec 18, 2009)

That's a tough one. Precious metals are for wealth preservation. *YOU* want to be the person that decides if/when to sell. If you invest too much in metals and don't have a nice cash reserve, if you need money all of a sudden and have to cash out some of your silver, I'm betting it's not going to be at a price you'll like. Normally, you'll lose.

In general, get everything else taken care of, have a nice nest-egg then consider what you have available for silver.


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## Dakine (Sep 4, 2012)

hi and welcome to the forums.

I think the amount to use as a goal is highly situational. I've read different thoughts about it, one person commented that you should figure out how much your family spends in one year on food (in todays dollars) and then have that much silver put away. So just using round numbers if your family spends $2000 a year in food, and silver quarters are $170 for $10 fv or face value, you'd want to have 2000/170 = 11.7 rolls or $117 dollars face value in junk silver coins. That way as inflation skyrockets as has happened in other countries when their economy craters, your investment in silver will provide a years worth of food.

You may want to read Ferfal's first hand personal account of how the economic collapse in Argentina affected his family and he goes into how silver became a currency again.

http://www.silverbearcafe.com/private/10.08/tshtf1.html

With all that being said I think the obvious answer is best, as much as you can possibly put away, you should. I have one buddy who wouldnt buy because he had some target price in mind, and he wasn't saving for when that price hit, he was using that as an excuse to not buy any when he knew he wanted to but didn't want to spend the money that way. When his target price actually hit, and it went lower, he had nothing set aside, so he missed his big chance.

Personally I buy a roll of dimes, quarters or halves as often as possible, and I also buy 1oz rounds as well. I have some 1oz bars but they are kind of plain and boring to look at mostly. the rounds are much cooler so I get them.

If you're able to spend $100 a payday, or maybe per month on silver, then do it. just start making the little purchases and eventually it adds up and you've got a stack!

Good luck, hope that helps!


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## bkt (Oct 10, 2008)

midwestmom said:


> We have older silver coins (more for the kiddos "cool" factor than anything else, not numistic at all) that could be used if needed. How many coins/silver is a "good" goal for a hedge your bets sort of thing??


How much ammo is enough? How many boxes of stored food is enough? How many gallons of gasoline is enough?

What you can afford defines what "enough" means. Just buy what you can afford and avoid coins with numismatic value (unless you're a collector and stumble on a great find, of course).


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## Woody (Nov 11, 2008)

Howdy and welcome!!!

I would first worry about other preparations before 'wealth' or silver. If something happened and you could not get to any kind of supplies, but what you had on hand, how long would your family be able to hold out? Would you be able to provide sustenance for your family for a day, week, month with what you have on hand? Do you feel comfortable with that?

Before worrying about what you might use to 'buy' stuff with, stock up on what you know you will need first. If you are already comfortable that you have enough on hand to keep your group alive for whatever time period you think necessary... Buy whatever silver you can with excess fiat money! That can of beans you buy for $1 fiat today, might cost you $50 in silver after an event. Would you rather have 50 cans of beans or $50 in silver?


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## k0xxx (Oct 27, 2011)

As several have indicated, I would concentrate on your other emergency preps before getting serious about buying precious metals. If the opportunity presents itself to buy silver or gold at a good price, don't pass it up, but working on the everyday preps to get you through an emergency should be the top priority.

If you are already at a decent level of preparedness already, then the answer to your question is to buy as much as you can without cutting into your other preps or other important areas. I have been buying precious metals for over thirty years, and I am constantly adding more. If you never have to use them, great, just pass them on to your children. They will be that much further ahead should the need arise.

Oh, and welcome to the forum!


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## BillS (May 30, 2011)

I prefer to have most of my savings in silver and gold because I expect sudden and drastic decreases in the value of the dollar. I prefer junk silver dimes and quarters, one ounce Canadian Maple Leaf silver coins, and 1/10 of an ounce Canadian Maple Leaf gold coins. 

I also want to have a year's worth grocery and gas money in precious metals so when hyperinflation hits I can buy those things because metals prices will skyrocket too.


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## 101airborne (Jan 29, 2010)

midwestmom said:


> We have older silver coins (more for the kiddos "cool" factor than anything else, not numistic at all) that could be used if needed. How many coins/silver is a "good" goal for a hedge your bets sort of thing??


 I can't remember who but I believe it was shawn Hannity that recommended that we have a cash reserve of 6 months worth of expenses for an emergency and gold/ silver/ etc of one years worth of food, medicine, and similar expenses in case of economic type collapse.


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## Dakine (Sep 4, 2012)

101airborne said:


> I can't remember who but I believe it was shawn Hannity that recommended that we have a cash reserve of 6 months worth of expenses for an emergency and gold/ silver/ etc of one years worth of food, medicine, and similar expenses in case of economic type collapse.


possibly Hannity but that really sounds like Glenn Beck thing. Although I haven't seen his show in ages.


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## 101airborne (Jan 29, 2010)

Dakine said:


> possibly Hannity but that really sounds like Glenn Beck thing. Although I haven't seen his show in ages.


Dakine..... I think you're right don't know why I was thinking Hannity. Glenn is the money guy,


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## invision (Aug 14, 2012)

Hannity has said having food, preps, etc as well, but I have never heard him say PMs... He admitted on one show about a year ago that he, himself was a prepper... 


This space for rent.


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