I saw this post over at Suburban Prepper. Thought about it while we went and grabbed a bite to eat then rented a couple of movies. My initial thought is to get a half dozen or so of each.
The real thing is that our money is limited while desires are infinite and buying one thing often means that at least right away you can not buy another thing. So which thing to buy? Are you better taking that wad of $100 bills and buying some gold or getting a glock?
Well that sort of depends. Do you want a gold coin or a Glock or a tv or a set of snow tires or a weekend in Phoenix Arizona? I threw in the last three just because it shows there are many options for your hard earned money and that weighing unlike items is difficult. A Glock 9mm will be great for defending yourself but will not keep your car from spinning out in the snow this winter. It is nice to watch TV but seeing Uncle Joe in Phoenix would be fun and they have that place with the great margaritas.
I guess the simple question is if you want a Glock or a piece of Gold. Obviously a Glock is good for defending yourself or target shooting or barter in case the end of the world happens [though to high in value for day to day transactions a quality handgun would be great to trade for a large animal or passage the heck out of somewhere or some sort of other big thing]. The same dollar denomination in gold [we are talking about what is best for your hard earned dollars] will not defend you but then again that isn't what we are making a purchase for. One advantage I can think of with gold is that presently there are no regulations about who you can buy or sell small quantities [I think over certain weights there is some regulation but us normal folks won't be troubled by that.] of gold or to whom they can sell it to. If you are from Idaho and want to sell an ounce of gold to a felon from California while in a restaurant in Nevada nobody gives a darn at least to the best of my knowledge. Also if you sell or swap gold to someone they will not be able to use that gold to cause physical harm to you. Lets say the sketchy bikers from that compound out in the hills show up to the Ye Old Barter Faire with a couple of solar panels you can totally use. A piece of gold in their hands will get you the goods you want but they can not use it to do physical harm to you. The same is obviously not true with a handgun. [Trading a pistol to kind old Farmer Joe who has something you need would probably be just fine but suffice to say care should be given in who you would want to arm.]
That gold is a very compact store of value also has some advantages. [Yes it also has disadvantages but that is why God was kind enough to invent silver and .22 ammo:] The stuff currently costs a bit more than a grand an once depending on what size or type of coins you want. Lets say it looks like something really bad is going to happen so you take a bunch of cash out of the bank or whatever and turn it into gold. All of a sudden you need to leave home with little warning and not a lot of stuff, gold is perfect. With a tiny bit of creativity and or halfway decent sewing skills you could leave home with a backpack and a dozen ounces of gold discretely stored on your person or in your possessions. Plenty enough to get a place to stay for awhile or even heaven forbid have a leg up in making a fresh start. It would be a lot harder to toss a couple dozen Glocks into your backpack.
I personally buy guns for my own use and to have the option of loaning or giving to others in a time of need. If the need arose I could easily part with a few guns. Suppose I could buy arms as 'an investment' or for barter, maybe someday I will. More likely I will just buy guns I like and will use. I have a decent collection of guns now and will probably double it over the course of my lifetime. Offloading some off caliber or non standard platform weapons is something I could do if need be.
I buy gold because it is a non denominated store of wealth which is widely accepted and has been for a very long time. Within my means I will continue to buy gold over the long term.
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15 comments:
I'll take the gold and find another way to defend my person, my family, and my possessions.
Ryan...Look for the MP3 I sent you ...post it if you can.
2:16, I would not say another way so much. If I am looking for a weapon to defend myself with a gun is an obvious choice. However the theoretical pool of dollars allocated for investment or whatever is not tasked with my defense.
Probably preaching to the choir here, but the general concensus of survival investing is to buy only items which can be exchanged later for their (or nearly full value). If you already have one, then get the other. From what I've read, you seem to already have a pretty good gun collection, so I'd go with the gold if you are low on that. But I'd probably consider Ferfal's point in his blog - have some gold that is far more smaller and can be cut (like a gold chain / ring) instead of one coin.
This is a great topic btw - I'm keeping my eye on this one.
4:36, Sorry I wasn't clear but I was mainly looking at this from a theoretical standpoint not so much a personal decision point. My next big venture (waiting for the ATM card for my account here) is going to be spare parts and pistol mags. After that I will need to recover for awhile before doing anything else big.
For me personally I am going to continue to buy gold or silver regularly and guns when I have the cash probably 2-4 times a year. On the gun point I am doing fairly OK now but intend to pick up a few more 'I want's' and build some redundancy in the AR-15/Glock 9mm/ Remington 870 area.
If you have the Glock (although why anyone would want one is beyond me) you can get the gold.
Well I would go Glock right now because Gold is priced to high.
Glocks will not get you gold, but gold will get you Glocks
With apologies to Machiavelli
I work with someone who says gold is a good hedge against economic disaster, in that it retains value well. But he thinks in a societal breakdown, it would be less useful because "those who have the guns have the gold." I'm not sure, either, that anyone other than a person driven by greed to an insane extent would trade food or implements of practical value for gold, which is essentially worthless unless you like to pour gold coins through your fingers or something. I suppose it's one of those essential items you have to store with everything else for "in case" and what priority you give it depends on your faith in it.
i don't think it's a good idea to have guns or ammo for barter.
lots of people smarter than i, talk about "balistic wampum" but the idea scares me. who can i trust enough to trade a fire arm to, which could end up doing me harm? (or worse doing harm to some innocent member of my family)
i'll leave that risk to the conscience of legitimate fire arms dealers.
hoard as much ammo as you possibly can, have enough pieces to equip each competent member of your clan. hand down weapons to your competent grandchildren. (but if some outsider isn't preparing, and buying his own guns now, it's just too bad) (unless it's someone you absolutely trust)
tjbbpgonlll, Yes I suppose you could forcibly take someone gold from them assuming they don't have any guns and you get lucky. As for why anyone would want a Glock? Gosh, a reasonably priced, simple, ergonomic, accurate and utterly reliable pistol is a crappy thing to have. Admittedly guns are a very personal topic but quantitative arguments against Glocks really don't exist.
Wyn, I agree with you that right now gold is probably a bit high. I was thinking more generally speaking.
Flight-ER-Doc, I am inclined to agree.
Hermit, I think gold would be priceless for an inflationary (or hyperinflationary) disaster or for after a full on collapse when the dist settles and people really start trading again and putting things back together. I agree that the priority you give Gold would certainly depend on your faith in it.
Irishdutchuncle, To whom or when you would want to swap guns or ammo is a whole post in and of itself. I look at ammo differently than guns because odds are someone who has guns already has enough ammo (a couple rounds) to do me harm. Trading .22 shells to Farmer Johnson for baby chicks would be a lot different than swapping centerfire rifle ammo to the sketchy bikers from the compound out in the hills.
I agree that hoarding ammo for your weapons is a prudent thing to do.
I'd go with the glock personally. While gold can be spent, it cannot not defend or feed you like the glock could, as well as being used for barter later on.
I generally go along with the gold vs. glock argument, but I think you should also consider silver in the form of 90% US coins when and if you intend to use it to barter. Agreed silver is much bulkier (when considering equal value), but for relatively small barter items, a silver coin might be much more appropriate. In a "crap hits the fan" environment, don't expect someone to offer change if you offer a gold coin. I personally like the combination of guns, gold and silver coins.
Conservative Scalawag, Fair enough. It would take about 20k dollars in gold in a sock to make a decent blackjack.
6:49, I compared glocks and gold because that was the discussion. I noted that while golds strength is that it is a very compact store of value some would argue that is a weakness (to a certain amount I agree) and that is what silver (one ounce rounds or 90% coin) and .22 shells are for, very small to normal day to day trades.
The Other Ryan and Others,
I believe you can have both. Buy the Glock, magazines, and ammo then buy 1/10 ounce or 1/4 ounce gold Eagles/Maple Leaves with the left over cash.
Yes, gold is a very compact form of wealth, but (IF you are preparing for a long-term economic collapse and recovery) it is the reconized world-wide standard for preserving wealth. Plus, 1/10 and 1/4 ounce coins allow you to reduce that compactness of a one ounce coin.
So to answer your "either or" question, Ryan
As individuals, we need to look at where we are in our preparedness efforts. If you don't have a carry handgun, you need the Glock (gun, mags, and ammo), first. You always need personal protection! If you have the Glock, you get the gold.
PS. Love the "Sketchy Bikers." You have started another classic survivalist phrase!
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