Sarah Dawn McKinley thought it impossible for the week between Christmas and New Years to worsen. How could it possibly grow worse since this was the week she became a widow with a 3-month-old son? Unfortunately, Sarah Dawn had no idea she would have to make one of the biggest decisions of her life just to save it. As gold holders something more than bravery must be taken from this story. After all, the #1 reason to own gold is to provide a buffer of independence in times of control and manipulation. I won’t try to compare gold to a child’s life today. There simply is no comparison in my mind. I will compare a person’s decision-making ability with mine, and yours. Here is how it played out.
It started with a controlled question to a 911 operator, “I’ve got two guns in my hand. Is it OK to shoot him if he comes in this door?” Not mentioned was behind the door stood not one man but two with the second wielding a knife. “Well, you have to do whatever you can do to protect yourself,” dispatcher Diane responded. “I can’t tell you that you can do that, but you do what you have to do to protect your baby.” Moments later a 12-gauge shotgun took control of the situation leaving mother and baby safe but one bad guy wishing, if only for a split second, he had picked another home to invade.
Stories, like this, of the good guy winning sound rewarding at first but then the realization sits in this could have been any of us. I doubt anyone really wants to take a life to protect their family or stash of gold but this is a choice a small minority of us will have to face someday. Somehow most gold owners believe they can toss their container of gold bullion in a gun safe and never worry for its security again. I feel this is assuming and unwise in this day and age. If you only take one thing from today’s post I want it to be this. Gold & silver are the most defenseless assets you will ever own!! They are nearly impossible to identify, easy to carry off (in most cases), and hard to secure.
While doing a rewrite on a soon to be released gold and silver book I found my self struggling with a chapter on securing physical gold/silver. Everything else in the book flowed together but this chapter was difficult. It dawned on me late last night why this is. Every one of you is different. You live in different places, you have different convictions and beliefs, and you own gold for different reasons. What you do have in common is you want to protect what you have worked very hard to amass. The number one source of security your gold has in its favor (next to discretion) is you. Like Sarah Dawn McKinley, your metals’ best defense is a well thought out plan and a willingness to protect as you feel relevant, convicted, and necessary. Everything else is nothing but thick metal and hope.
Here is an example of what we’re saying if unclear. Some of you are very pro 2nd Amendment and have no problem protecting what’s yours, no problem. Some of you are pro 2nd Amendment but as Believers feel taking a life defeats a belief in all things of this world as materialistic and a greater prize awaits those that believe. Some of you have never given a thought to what you would do if you had to pick between gold, a gun, and a life (not once). Here is how I want to leave this. Take time over this week giving thought to what you would do if faced with the same situation Mrs. McKinley faced just over a week ago. The time to make a plan to protect (defend) your gold is well before the unlikely situation arises.
This is our take so give us yours. Are you willing to defend something as silly as a mass of metal? Would you take the life of a person if they stood between you and your metal? Contact us here since we would love to hear what you have to say. Thanks for spending time with The Prospector Site today and don’t forget to scroll down and read what others have to say.
YOUR QUESTIONS & COMMENTS:
QUESTION: I just started buying silver rounds, I am not a coin collector. I am just looking for silver. I studied things for a few months before buying. This site is what made me go ahead and buy. I have a good job and almost have my house paid off. I have 300k in my 401k but I am always afraid that the money won’t be there in 20 years when I am ready to retire. My question is what is the difference between buying 1 oz coins or 1/2 oz coins. I was told two 1/2 oz coins are worth more then one 1 oz coins? What is your opinion?
ANSWER: Thanks for a great comment and question. Congrats on taking the time and energy to not only protect by way of PM (precious metal) but build equity in your home and retirement (*). Silver is extremely popular these days and compared to early 2011 it’s on sale. I own silver but I do worry (a little) about how it will fare in the long term compared to gold. Silver owes some value to its industrial side and as economies slow it’s hard to say if the investment side will compensate. No doubt the metal will grow in value as long as printing presses continue to solve debt problems.
As far as the 1/2 ounce silver rounds go, I too own them. They are not worth more than 1 ounce coins if we value rounds on their silver value. If you account for the premium added to each round then “yes” they are worth more than 1 ounce rounds (ounce to ounce comparison). Depending on your motivation to own 1/2 rounds, we recommend keeping premiums as low as possible and the best way is to limit the amount of “fractional” gold and silver as possible. We recommend favoring 1 ounce silver with the lowest premium available. You don’t mention gold but we feel it’s wise to own both metals. Thanks for the question and following our site.
*SIDE NOTE: We emailed this reader directly discussing the other concerns they have on savings, retirement, equity, etc. This reader brings up a great point and we want to spend a sentence or two on them. We are in uncharted waters economy wise and once safe/secure assets no longer are as protected. Ask the farmers and investors who lost millions when MF Global lost $1.2 billion of their dollars recently. During times like these assets become manipulated and ones not in control become left out. One thing I love about precious metal (for the record I’m not a gold bug) is financial control stacks in my favor. When this control stacks in my favor, independence and self-reliance follow along like 2 month old puppies. Just something to think about.