Tuesday, November 18, 2008

SHTF: Run on gold coins!


While everyone else is obsessed with the latest bailout or newest fodder from Hollywood, I found this little gem in the news today..

Government Can't Handle Run on Gold Coins


Even the Motley Fool investment advice site has a story on it..

So why the sudden facination with gold coins?

I think there are number of reasons why this is happening.

One plausible explanation is 2009 is shaping up to look a lot like 1978-1979. Consider the state of our economy, manufacturing giants (GM), government, potential inflation and devaluation of our money. During the late 70's, gold shot up to $1000.00 an ounce.

Right now, gold is trading in the mid-700's the last time I looked; down from a high of 900 and change just this year.

Also, consider this.. The availability of gold coins is the problem here. Several nations, (Chile, Iran and China) are all moving some of their foreign reserves to gold. Coins may the fastest or only way for them to move quickly into this asset. Just a thought..

Now, what can you do?

If you have your other preps in place and you have the funds available, consider checking ebay, your local jewelry or coin store and see what they have available in gold coins.

The price is still better than it was a few months ago.

Avoid those "gold commemoratives" advertised on late night TV. Most are 'clad' in gold or silver.

Even the TV ads for the silver or gold coins are overpriced (especially with shipping).

No, head to the coin shop, jewelry store or Gold and Silver Exchange type store in your neck of the woods.

But do it soon..

I am guessing that after January, after the new government takes its seat and after the rabid followers realize no magic will make the economy get all "1990's better", the rush will be on.

By then, it will be too late.

So you have been warned.

Besides gold coins and junk silver.. The same goes for firearms, ammunition, magazines..

For bulk foods, especially long term storage foods like Mountain House.. Emergency Essentials..

For gasoline but more so camp fuel, butane and propane for the grill and camp stove, and generators.

Besides gold coins the same can be said for toilet paper, cleaning products, feminine products, paper towels, bleach.

Besides gold coins, expect shortages at some time on power for your home as rolling black outs, brought about by cutbacks in fuel supplies and generation plants. Do you have any solar panels and batteries? How about batteries for the flashlight and lantern?

I hate sounding "Kurt Saxon" here, I have always been an optimistic prepper. In fact I think most of us are. But when I see a run on gold coins I believe we are about to turn the corner.

So continue getting ready, remain hopeful, happy and helpful. Don't let gold coins get you down.

Rather, gold coins may help with your preparations for the coming days!

Be safe, be ready and be careful!

As always.. Tell me what you think!

Leave a comment and click below!

1 comment:

cron said...

Great post on gold and silver coins. We will include some of your writing and link into our newsletter to our gold coin collector forum newsletter and social website.
gold coins

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