Buying Silver and Gold as Part of Our Preps

03-07-2012 • by Jeff

Let me start by saying that I am not a professional financial advisor. Nor am I someone who wants to sell you anything, or give "investment" advice. I am a science teacher. I had some experience working on Wall Street in my previous carrier. I have had personal experience trading stocks. I also have had experience saving money in precious metals. Many of the questions that I had when I started buying silver and gold are the same ones that you may be asking as well. You may ask questions like: how and from who, or what kind, or what is the spot price? I am writing this to give a little direction and share some of our experiences in this matter.

The first time I wanted to buy gold

In 2000, I went to a bank and asked the teller if they had gold. Boy did I feel stupid. Guess what? Most banks don't sell gold. [JWR Adds: A few banks sell American Eagles.] The good news is the teller thought I was joking. So, I went about my business. Then I mentioned to my boss that I was interested in buying gold and, as it turned out, he was a big coin collector. He showed me a couple of his gold coins. I was surprised at how small they were and how much he said they were worth. I did not buy any gold that year. The reason I did not buy gold that year was that I did not know what I was doing. Since then, I have started my own stack and done some homework that I felt I could share with readers on the blog.