#askNostr take it as a given that I believe in Bitcoin over gold. That said, I would like hedge against various types of dystopic futures by investing in some gold as well. Self-custody preferred.
What do you suggest to accomplish this, Nostr? First-hand experience preferred. Even better if responders are in my WoT. Thanks!
Wish I could offer some advice but I own no gold.
Considering the same thing myself. What I have come up with so far is this.
Buy in person with cash avoiding kyc.
Self custody 100%.
More small units like gram bars preferred over larger units like oz bars.
My total DCA is income and expenses bound. I plan to adjust the ratio of gold and BTC purchased based on where bitcoin is in the cycle.
Gold is not the only thing of value for prepping for those scenarios. Consider your water, food, and energy sources too. Generating safely onsite beats storage, this applies to all of those resources.
Get some gold jewelry. It's nice to be able to use your store of value. I've stacked both good and silver, at a certain point, the silver becomes too heavy and you have to trade it for gold. Just be sure to use reputable dealers.
I use Apmex, btw
brass and lead will be better
Jewelry. At least you can wear it. Someone once recommended this to me. Only 24k, they accept coin and there’s live gold pricing in there and other perks.
There's no real point to investing in gold jewelry, IMO, as you lose the monetary premium and add the artisanal cost. And you could turn the coins into jewelry, but it doesn't work, the other way around.
Just buy the most boring coins you can find, in cash. 1 oz American 🦅, or something.
Local coin shop.
nostr:npub13700uhjmtvfl49n4drcr0qg7rk863m8rzqdgceddpfwh2ejlumdqn6375k is an avid gold user he has tips for this.
apmex.com
Gold should be 1oz or smaller coins from a sovereign mint like US eagles, Canadian maple leafs, SA Kruggerands, etc. Bigger stuff is more likely to be tungsten. If you need alot $$$ worth, get monster boxes of US gold eagles.
Silver is good in junk 90% US coins - quarters, dimes, and halfs from 1964 and earlier
1oz silver rounds from local pawn shops too
Nobody sells at spot, btw. You must pay some kind of premium.
Value for value, the dealer is holding stock to provide you the market, so they get something for that.
I have a jeweler friend who I'm considering inquiring with. I'm not sure if there is some etiquette unknown to me around asking people about their gold connections...
I feel like the “gold dystopian hedge” scenario isn’t a full on dystopian hedge, but a sort of threading the needle of not quite dystopia but still kinda bad hedge, given that if things were really bad i would doubt anyone gives a shit about gold. Fresh water, canned goods, guns, and gasoline would all be of higher desirability and nobody would give a shit about gold.
Totally agreed with you there.
"Particular types of dystopic" was doing a lot of work in my initial note.
Basic preparedness, physical health, good social connections and basic homesteading know-how seems to be about the best the average non-bunker-having-lunatic can do in the way of reasonable hedging (in the SHTF category)
I totally get it. There’s certainly a hypothetical use case and allure to having small amounts of precious metals.
I’ve got some nice old silver coinage and while it’s really not much, it is easy to see how far fiat has fallen.
Take an old quarter or half dollar with high silver content and hold it up against a newly minted chuck e cheese quarter and it’s stark how light and fake new coinage is.
Yes! I know exactly what you mean and have had the same experience
