E-Mail 'Economics & Investing For Preppers' To A Friend

4 Comments

1. Regarding Kovels Price Guide on Antiques, as a long time seller/buyer on ebay starting in the mid-1990s, I can attest that using ebay and the COMPLETED SALES feature to get an idea of value of your antique item is another excellent way. I put 20 years of going to antique auctions to good use when I moved from Connecticut to West Virginia in 1991, and found that many dumped or did NOT have their cats and dogs spayed or neutered. I was knee deep in my own RESCUE and needed extra income to pay vet bills, and for newspaper ads to adopt out the rescued pets. I went to weekly local auctions, filled up a room with all manner of antiques that I could physically handle, had a computer built locally, and became ebay seller. Continued selling when moved back to Connecticut in 2001, and joined 501c(3) cat rescue, and helped pay the vet bills. I guaranteed every sale with “money back” if not satisfied, and had 100% PERFECT feedback. For the last 10 years, I use ebay to buy gifts and just to keep up on values of things. We are out of rescue as we are elderly now, and just caring for the last 6 old cats that came and were not adopted. So, use ebay to check sale prices, because something is ONLY worth what someone will pay for it!!!! Many dealers have closed their shops and now sell only on ebay!

2. You know we are finally getting close to the top and end game when even the preppers are talking about classic cars and fraberge eggs as investment vehicles.

3. If you want to get into the tangibles business (antiques, jewelry, furniture, etc.), becoming a “picker” is a good way to do it. Pickers go out and look for stuff for those who ultimately will sell it. You have to get to know store owners and collectors, and what they want. Then you go out and find it for them. You don’t need to store inventory, which is a real plus. Of course, you need very good knowledge of what you’re looking for, so many pickers specialize in one or two areas. I used to know a picker who only looked for mens’ jewelry. Remember, you’ll be competing with experts, so you must become one yourself to succeed.

4. The problem with collectibles is being able to sell them when you want to. You are presuming that there will be wealthy people with cash or something else to barter with. You will not be able to spend a classic car or faberge egg or old gas pump. You will be implicitly assuming that the crisis will come to an end relatively quickly, after which you will be able to sell. I agree with JWR that gold and silver should come first, and that some of the gold should be in less than 1 oz coins. Junk silver will be useful too, but remember that it will take a couple of years of complete chaos until people start accepting these as a medium of exchange. In addition, the government is working to digitize all money. We do not yet know how that would affect the use of gold and silver coins. Further thought: if you are holding some cash for a potential temporary crisis, make sure you are not holding $100 bills. I believe the government will soon phase these out, and their use would mark you as someone with cash. Try to keep the bulk of your stash in used 10’s and 20’s.

Comments are closed.