Why is Gold & Silver at a Historic Price? What I'm doing for SHTF

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[@Ryan_McGee]

Just ordered some silver from Scottsdale Mint.

[@JoeStacks419]

That's right, gold & silver has thrived past every collapse in world history. I think preppers often misunderstand the level of collapse or scenario in mind. Besides a potential period of chaos, I believe a basic economic system will always return. Thus, coin shops, trading posts, banks, gas stations, and grocery stores would revive. Some in here are thinking about Mad Max and Water World type of scenarios.

[@620brown]

Gold and silver is not an investment it’s insurance

[@BDK86]

Insurance/Savings account

[@unitedstatesirie7431]

Gold and Silver are not insurance, because corrupt politicians set the value of these !

[@SensiblePrepper]

Good point

[@helenkessler6012]

It's meant to be a store of wealth. Coin shows are great for DCA

[@Bob-bb3ur]

Would you rather have $2000 worth of gold? That you can't eat ,or $2000 worth of food and water put back.

[@bobsilver3983]

Silver dimes and quarters would be the best silver to have for barter...no comparison.

[@j.b.1855]

Learn your states tax laws on precious metals. I'm in NY and if I spend over $1000 in bullion there is no tax. Online bullion dealers will tax you accordingly by your state laws.

[@mikereese15]

Stellar info. Thanks

[@jayinmass]

Good information as usual, thanks for sharing.

[@wayner6503]

When Canadian banks started holding people's accounts,I pulled all my money out of banks and put it in Gold and silver. In two years I have made more money with the increase of gold than I would have made in interest from the Banks. As a prepper ,I will use the silver for small bartering, and gold for bigger items, but it's best to have a mixture of one ounce and fractional gold. Great video, thanks for talking about this subject.✌️

[@debbiecurtis4021]

I've got silver in 1/10, 1/4 and 1oz

[@SensiblePrepper]

Thanks Wayne! That's an excellent point.

[@dugger5302]

Outstanding information Sootch.

[@SensiblePrepper]

Thanks Doug!

[@jeanadamsick9854]

GOOD TALK!!!!!!!!!!!! THANKS!!! Do take care. Fl.

[@paemtff9412]

Great video.

[@scetchport]

Great info easy for newbies to understand. The world is in destruction mode, don't sit back and be caught out. Withdraw cash out of banks except for any bills you pay online. Cbdc's will lock your money away ,coming soon, social credit score not good, government will shut your account. You will be told what you can and can't buy. They can't just stop cash in a day, it will be phased out over time. But preppers know all this. Cheers from Australia.

[@userCHAIRdog55]

3:37 this bears repeating.

[@Robnord1]

I've been dabbling in PMs myself for the last few years, and just *wish* I had begun 10 or 20 years ago. Oh well,,,better late than never. Good advice on all points made Sootch. Well done! 👍 For you neewbies, Yankee Stacking, Salivate Metals, and 2is1 are all good resources here on YT.

[@swe_nurse8121]

Even disregarding all the investment/insurance stuff it's a really nice feeling to have a few silver/gold coins/bar at hand. It feels substantial and I enjoy holding/"playing" with them. There's also so many nice designs. Not a big reason of course, the insurances/hedging is more important obviously. But a nice bonus.

[@djo9941]

I treat precious metals as insurance not as an investment.

[@BernardVillalon]

BROSKI all these years watching ur other channel didnt know of this channel subbed here2

[@InvisibleCitizen]

Gold is going up because the dollar is going down. A more equitable understanding of value is what can I buy with an once of gold compared to what can I buy using dollars?

[@pobo6113]

Thank you for sharing this information

[@danielmeraz1628]

Good video

[@juliawithers5391]

Some states have issued goldback dollar bills that can only be used in those states. Utah, Nevada, New Hampshire have done so.

[@KaylynnStrain]

I was able to buy the little bit of gold I have when prices were low, soe was gifted to me. I may buy a bit of silver now and then to add to that stash

[@danielbbq]

Every bit of precious metals you can get won't hurt you.

[@Taluvin]

Once again a video that is equally relevant to us here in the UK, which many of your video's are. The only exception is that we do not allow members of the public to carry guns, this is reserved for our criminals, who seem to have unlimited access to hand guns. :(

[@daviddenson3324]

Good video Don. As far as junk silver for bartering, even with 90% dimes most people probably won't understand the real worth of them. They will prob think you are trying to pull a fast one when you explain that each dime is .0715 of an ounce of silver. So if they have a chicken and want $20 for it they will expect 200 dimes! When really only a few 90% silver dimes will suffice the $20 price. Seems like bartering with even junk silver will be complicated and not trusted by many people unfortunately. They either won't get the math or just not believe it outright. What are your thoughts on this?

[@danielbbq]

Ive found this to be true. They don't know silver/currency. I've had much more success using goldbacks. In 9 states and 120 transactions so far.

[@chupacabra304]

Yeah the majority of people who are not prepared are ignorant about the facts

[@jopiaspieder1184]

Good thing about gold is that it can exist as a solid and liquid as liquid gold and it is still gold not losing any value.

[@margiestephens7281]

Sootch, huge volcanic blast in Indonesia. You live in the Carolina’s I know & heard forecaster discussing e’quake in va, nc,sc region along the plate (Kraton). JUST FYI ::::::::;

[@SensiblePrepper]

Thanks Margie, we've had tremors over the past few months and there is a huge fault line that runs through our area. I think a video on this will be coming up.

[@christopherorourke5011]

Without getting technical or offering advice, can you address tax treatment upon purchase and eventual sale for a loss or gain. Do you keep purchases under the 10K mark and have you maintained your cost and purchase dates by unit in order to make sales and capital gains decisions? Thanks!

[@Philippineprepperteam]

Philippines is gearing up for shtf

[@danielbbq]

As a 3rd generation prepper, I've gotten into Goldbacks over the last 13/m. I’ve done over 120 Goldback transactions. Though i do try to deal in silver and gold it is much more difficult. I cant wait until you learn more about them and do some dealing in them. They are great, IMO. Cheers.

[@dwightdenton525]

Gold Backs, you really need to explore this option as well, small premium but worth investment. Good show today!

[@Michael-Archonaeus]

Just checked my local coin dealer, and the prices are literally the exact same as 2 years ago, no change, that is to say it actually got cheaper, because of inflation. So if anything, gold is historically low, at least in Denmark. Perhaps that's business opportunity for you Americans, start importing cheap European gold?

[@normal_norm2627]

Do you guys have any clue what real money is? The reason gold and silver are going up is because of the incredible excess fiat currency printing the last 5 years... Yeah, even when Trump was in office. Y'all best hold onto it until AFTER the US dollar is RESET.

[@juliawithers5391]

Some states have issued goldback dollars for use in their states: Nevada, Utah, Wyoming, New Hampshire, South Dakota.

[@danielbbq]

Ive used them in 9 states and have documented transactions in 27 states and on Every continent.

[@kathymitchell4195]

Is that silver bullet for the werewolves that may attack you?!!

[@LaurenTGage]

I wish we (U.S.A.) were still backing our money with gold. This is great information. When I get to buy gold, I'll never sell unless there's no other choice. I'm starting with silver because it's more attainable for me right now. You got those at $5 per oz. Awesome. Long live the Republic for certain. Thank you! 1 Corinthians 15: 1 - 4

[@danielbbq]

Some of use are backing our money with gold. We're using Goldbacks and having good success too.

[@vinceb4380]

Hurry up and get some!❤

[@rlh125]

The thing that confuses me is how gold can be spent in a SHTF or dollar collapse situation. A single gold coin will be worth thousands. You can't use it to buy small, day-to-day needs. So, if I'm sitting on, say, $100,000 in gold dimes, I might be rich in a collapse, but how will I spend it? The fractionals might be better, but they seem like a bad buy because they're overpriced and they also still might be too valuable for most common purchases one makes in life. But admittedly, I know very, very little about this topic. That's why I'm here.

[@debbiecurtis4021]

Buy 1/10 and 1/4oz silver for small items

[@VETERANPREPPER1]

If a situation like that happens, silver and gold will be scarce and prices will be higher than today. You buy it for financial insurance. Silver is used for daily expenses and gold for larger items. Keep a small percentage of your net worth in PMs, set them aside and forget about them. Hope we never need them , like you hope to never use your home insurance

[@sanibel3]

Even though fractions cost more initially, they are great to have, simply for less expensive daily purchases in the future if cash is no good. Save back the 1 oz. gold for MOST impt. or large impt. purchases. (Hopefully you can just hold those.) You will spend it by trade with others, i.e. bartering. For whatever you might need, someone else has, they might want some silver or a gram of gold for it. For example…meat or ammo, etc. You just have to be careful and safe. Never let folks know what you have! ❣️🍀

[@Bob-bb3ur]

Where would you take your gold to get the value? You may trade your gold coin for a can of soup.

[@VETERANPREPPER1]

@@Bob-bb3ur that’s what silver is for

[@SimonRiley115]

I think we'll be living more like the Amish anyway, don't have much money so I'm just buying the necessary tools awhile for when pioneer days are back.

[@ttarpnelleoj]

Hello 👋

[@pyeitme508]

Wow useful

[@unitedstatesirie7431]

No. It's not.

[@aja5112]

There is waaaay more silver than there is gold.

[@EroticOnion23]

Perhaps or perhaps not above ground....silver is essentially never recycled once used, unlike gold.

[@mistersquat5786]

Yes but it gets mined 4 to 1, so for every oz of gold 4 oz of silver is being mined, also there is a 10 to 1 ratio in the entire world, so 170k tons of gold and about 1.7 mil tons of silver. If prices were tied to these ratios than silver would be either 230 dollars an ounce or 500 something dollars an ounce.

[@JohnNumber5]

Have you noticed all the advertisements on certain channels trying to sell gold at its peak price? They have to get rid of it before the price falls.

[@danclapper626]

Worst time to buy is when something is at all time highs. Same with stocks, crypto.

[@Sniperfox1]

Where can I buy junk silver coins? I’ve asked around and no one know. I am in the Wilmington NC area.

[@SensiblePrepper]

There are a lot of places like Pawn Shop, Coin Dealers, many jewelry stores that buy gold/silver, flea markets and even Ebay. Good Luck

[@Richmart1955]

❤ Sensible

[@2lipen402]

Any combination of US 90% coins equaling to $1.40 is 1oz of Silver.

[@Bonzeggva]

What are your thoughts on Goldbacks?

[@tonyelbows8045]

buillion rounds , and stay away from national tender, it can be seized by the government. Them Indian/Buffalo coins are great Canadian Maples too.

[@danielbbq]

Did you hear of the family in Albania that lived 40+ years on their held gold? 1945-1990s+. They had to convert it to jewelry to sell, that's what they did and survived communism. See Lynette Zang 2 years ago on ITM Trading.

[@chuckbrewington6817]

I've been bying Britannica coins. Been told they are harder to fake.

[@randysimmons9838]

It will never be under 2,000 bucks again

[@hex4461]

@7:19 ... Silver is not rarer than gold. I also stack gold/silver/platinum. Great video!

[@JFoxC]

What are your thoughts on goldbacks?

[@Jay-pp7uv]

High premiums for what you get

[@SensiblePrepper]

I've just started researching Goldbacks. It looks like an easy way to make transactions and they're back by 5 state governments so it gives confidence. Looks like we'll be bringing more coming up, Thanks J

[@vodekz1534]

I would wait for a correction, down to $1700. Gold is very mystic and people like to get excited about it. For very long-term returns about 5% a year. It might not be the best investment, but It is insurance.

[@Karim-ik5ij]

Anything is possible but I think that is improbable. We have been trading in the 1600 to 2000 range for 13 years and we finally broke out. If there is some black swan event like covid, it is possible we have a flash crash down there.

[@helenkessler6012]

​@@Karim-ik5ijI'm hoping for a "melt up" not down.

[@lycamle3851]

Would government confiscate gold like 1933 in case of national financial crisis because of unmanageable debts in history?

[@Goldbacker00]

But how will you spend your PMs? Goldbacks are in a form that's ideal for transactions

[@SensiblePrepper]

Precious metals typically have a measurable value that can be sold or bartered, but Goldbacks seem to be a easy way to make transactions. We're looking into them now and will be bring our views about it soon. Thanks

[@helenkessler6012]

Goldbacks aren't priced right it's way overpriced for the gram. Not a good resource.

[@Goldbacker00]

@@SensiblePrepper If you have any questions, or are interested in an interview with someone who works with Goldback Inc, I'll put you in touch. let me know!

[@Shin0bi272]

he he he southerners and their love of silver.

[@quinntheeskimooutdoors6234]

Thanks for sharing 😊

[@matriximaster]

In a SHTF nobody will care about metals.

[@LandLockedSailor69]

I just never have been able to get behind gold and silver for SHTF's. Investments and securities im fine with but i cant see a world were i would barter and trade anything for G/S. I cant eat it, it won't keep me warm. I can use it to buy things if that other person believes it to be real and genuine (not fake) but i'd just trade the goods i have for goods or services i want.

[@ej62133]

You can't eat food once it spoils. Precious metals don't spoil.

[@LandLockedSailor69]

lol keep watching these types of videos to learn how to store, can and preserve your food so it won't spoil. You will perish cold and hungry surrounded by precious metals while I'm full, warm and comfortable in my home. When you come to those like me with your coins and bars I will take all you have for a few jars of food and a belt knife

[@ej62133]

@LandLockedSailor69 lol... you think food will last until the end of time 😆 Your house is the house Antifa will loot once you're killed in it while I'm on the move with my portable finances

[@johnnyb3126]

🥈🥇

[@nomore8042]

What's wrong with saying 1oz. of gold (as of today) is $_______.00 ???

[@helenkessler6012]

Cause everyone prices it different. Some take a % and charge premiums on top.

[@DaedalusHelios]

Gold does not outrun currency inflation. It is a guard against inflation because it raises with it. If inflation goes up 15%, expect gold to go up about 13%. So you still lose, but not nearly as much as the 15% you would have lost in value.

[@BigRed1151]

I wish I would have started buying gold at $350/ounce but I was to busy being in kindergarten. 😭

[@lycamle3851]

Would be possible US government to confiscate Gold like 1933 to reduce the financial crisis?

[@wobblybrute]

I have never understood the value in metal. Not being negative. I truly don't understand the fascination with gold throughout history. I get the investment side but if SHTF I would much rather barter useful things (food, resources,etc)

[@danielbbq]

While mostly true there always have been and always will be people willing to hold gold and buy, anywhere in the world.

[@unitedstatesirie7431]

There is an important reason why Gold and Cryptocurrencies are not insurance and not a good investments during Survival situations ! 💰 Gold is a limited use commodity.

[@redrider7730]

What exactly does crypto, that if the electricity goes out is worthless have to do with gold?

[@fmsracing442]

Don't buy Platinum. Platinum is going down because it is largely used in internal combustion engine catalytic converters. The price of Platinum is going down as the world shifts more and more towards electric vehicles. That is why catalytic converters are so expensive and often stolen.

[@aja5112]

There is aabout 8 to 12 times more silver than there is gold.

[@seekingtruth8744]

Comments gone😜

[@nukiesduke6868]

Gold and silver won't be viable currency and a trade option until years after SHTF. First several couple of years, possibly even 10-15 years depending on how bad said SHTF is. At the start no one is going to be wanting gold or precious metals. They're going to be trading cans of soup for a pack of smokes. Or they'll trade toilet paper or soap for a few taters. Ain't no one going to want gold, nor is anyone going to want to use it to buy goods. Now maybe 10+ years after a societal collapse sure.

[@Kwash56]

If there is less silver than gold in this world, then why is gold worth more?

[@bobsilver3983]

because silver is the banksters Achilles heel

[@markcarrell8053]

What happened to the other 30 sum comments? Second time I've posted this comment. 🤔

[@stan4d1969]

Think about this for a moment: When you sell gold, what do you sell it for? DOLLARS!

[@Jay-pp7uv]

The point is not to sell as it's a store of value. If you have to sell hopefully you have owned it long enough to capitalize on the price difference over time. I would also note gold and silver are valuable in any currency, not just dollars.

[@Jay-pp7uv]

Would also say that if you want to pass wealth onto family you could physically hand your children gold without all the taxes and bs associated with wealth transfers

[@sanibel3]

You sell it for dollars down the line perhaps. But you buy it for WHEN dollars may be worth nothing and sell the gold for Things You Need.

[@danielbbq]

IMO one should never sell gold, only spend it, and only when the dollar is dead.

[@clmtoo5566]

Where can I purchase “Junk” silver from?

[@Jay-pp7uv]

Coin shops, online bullion dealers such as sd bullion or I commonly used monument metals.

[@SensiblePrepper]

There are a lot of places like Pawn Shop, Coin Dealers, many jewelry stores that buy gold/silver, flea markets and Ebay. Good Luck

[@j.b.1855]

@@SensiblePrepper Beware of those AMAZING deals on ebay or FB marketplace. Lots of fakes out there, not so much in "junk silver" but still stick with reputable dealers only.

[@helenkessler6012]

Go to the coin shows. Better pricing and you can buy1 or 20. No minnimumslike the retail guys.

[@bobsilver3983]

I get mine at coin shops and eBay...dimes and quarters

[@markcarrell8053]

What happened to the other 30 sum comments?🤔

[@edwardzamorski3711]

Trouble is when you buy gold you pay tax like buying a car

[@danielbbq]

Not in every state. More and more states are implementing legal tender laws too.

[@nestorvasquez2134]

If you come to me during SHTF times trying to trade antibiotics from me with gold!! I’ll laugh!

[@VETERANPREPPER1]

If your loved one needed that item life/ or death, you’d give them anything including your life

[@nestorvasquez2134]

@@VETERANPREPPER1 exactly, and for our love ones, it’s better to get now what will be hard to get in SHTF times! And it is not precious metals or gems.

[@helenkessler6012]

Until you gotta pay your taxes. You'll take that gold. You ain't from round here are ya?

[@nestorvasquez2134]

@@helenkessler6012 taxes won’t be in my priorities after SHTF. Lol!!

[@sanibel3]

Might think that through a little more…

[@briansullivan7574]

Where do you put your money? All gold? Lol

[@twiggs24]

Silver is low. I bought at 45 so don't tell me it's high right now.

[@SensiblePrepper]

That was a manipulated price because of JP Morgan and other financial institutions squeezing the market. It was an artificial price jump.

[@j.b.1855]

Your supposed to buy low sell high. Sounds like you had some FOMO (fear of missing out) in the aftermath of 2008. Take it as a lesson learned. You will recoup eventually, just gonna take a longer time.

[@VETERANPREPPER1]

The price of silver is manipulated by large banks, so right now silver & gold is on sale!

[@sanibel3]

Buying Ag is not for investment….Even though it was around $37.-40. in the past, we bought for long hold. And since buying it over time, it dollar cost averages out and flattens the price.

[@komissarov-hl2xd]

!!My outlook on money changed when I realized someone making $300,000 can retire broke & someone making $80,000 can retire a multi-millionaire. With the current market movement, you have $100,000 to invest. Where are you investing it?

[@KostyaHonex75]

Money advice varies, what works for one may not for another, but planning is key. Exposed to personal finance early, I started working at 19, bought my first home at 28, faced job loss at 36 during COVID. Consulting a CFP helped grow my finances. Currently, I'm 25% short of my $5m goal.

[@poloolo9]

I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech. Thanks to Andras Bohm, my advisor.

[@user-gg9fi6ft2g]

Money advice varies, what works for one may not for another, but planning is key. Exposed to personal finance early, I started working at 19, bought my first home at 28, faced job loss at 36 during COVID. Consulting a CFP helped grow my finances. Currently, I'm 25% short of my $5m goal..

[@komissarov-hl2xd]

That is just amazing! Could you please tell me about your Certified Financial Planner (CFP)? This year, I'm considering some financial changes.

[@user-gg9fi6ft2g]

Yes, Andras Bohm made headlines in 2020, but I'm not sure if I can bring him up in this context. he manages my portfolio and acts as a counselor for me..

[@blowinshtup6553]

other than SHTF bartering, investing in gold is for people who can’t do math and don’t understand inflation.

[@novelcoronaheads]

People talk too much thats why

[@kodyroach]

Bitcoin is better.

[@chrisanderson9157]

Don't be a fool. You can't eat gold.

Anyone buying PMs now is an idiot . A correction is eminent. Premiums are ridiculous too. Local coin shops won't buy back at spot right now. They sure love the premiums though..

[@lkj781]

this video doesn't tell you anything about why the price of gold is at historic high. how would this guy know anyway?

[@justice2620]

It’s absolutely NOT at a historic price. Click bait.

[@Bigguyneeds10percent]

If grid goes down my experience has taught me that stores/gas stations lock you out and close shop. They’re not gonna let you in waving cash at them unless maybe they’re related to you. And waving cash or gold outside a store window with grid down isn’t a bright idea. So basically we’re effed.

[@hmmm..2733]

Agree. That’s why it’s good to acquire stuff you need now. Aka prepping.

[@BendOver4me2]

silver is NOT at its highest.. around 2010/2011 i sold at $40+ per oz..

[@bobsilver3983]

1980 it went to $50

[@NCHeel]

6:45, How'd he do that? Magic trick I tell you.

[@torjones1701]

Sorry, but I think this is the wrong question. It shouldn't be "Why is gold so expensive?" but rather "Why can you get so many US Dollars for an ounce of gold?"

[@r1w3d]

Gallium was above silver, useful metal for an engineer like me 🤣 especially for hydrogen storage when amalgamated with aluminum. Its super low so im buying more because it has a use to me like other chemicals and metals. I guess things can have value to me and be worthless to others haha. I can make power, i have an RF background professionally which makes me comms intelligent to the max, im a hobby chemist and have been for most of my 33 years. Silver makes a great fulminate and awesome for sanitation/topical if you know what you're doing you can use it on burns, cuts, scrapes, fungi on body or things, bacteria reduction to prevent oders like the kind you dont want on hunting gear. Knowledge is my power and my knowledge with the world i grew up in could show up MacGyver 😎

[@wretchedrue7859]

Yeah I can barely pay my mortgage so this video is definitely not for me😂

[@66block84]

I was at the grocery store ealier today and they had a guy at the front door telling everyone that their ability to use debit or credit cards was down and that they were only taking payments in currency (he said cash).

[@66block84]

The ASE should have a $50.00 face value.

[@07blackdog]

It will never be worth zero.

[@Scuba-D]

Cash isnt money😮‍💨

[@Merso-FL]

Arent you gun reviewer? sootch00? Can i get 1oz silver sent to me for this recognition..

[@scetchport]

Silver for barter when shf.

[@billrichardsjr]

What is a shiny piece of metal going to get for me if the SHTF? Food, water , booze, tobacco, and bullets are the only thing that has value.

[@sherriegoetting555]

Remember medical supplies have value as well.

[@Bigguyneeds10percent]

And porn

[@sanibel3]

Life saving medication.