Jump to content
  • The above Banner is a Sponsored Banner.

    Upgrade to Premium Membership to remove this Banner & All Google Ads. For full list of Premium Member benefits Click HERE.

  • Join The Silver Forum

    The Silver Forum is one of the largest and best loved silver and gold precious metals forums in the world, established since 2014. Join today for FREE! Browse the sponsor's topics (hidden to guests) for special deals and offers, check out the bargains in the members trade section and join in with our community reacting and commenting on topic posts. If you have any questions whatsoever about precious metals collecting and investing please join and start a topic and we will be here to help with our knowledge :) happy stacking/collecting. 21,000+ forum members and 1 million+ forum posts. For the latest up to date stats please see the stats in the right sidebar when browsing from desktop. Sign up for FREE to view the forum with reduced ads. 

How much silver/gold to own to be classified as rich or upper class


Guest

Recommended Posts

Hi

My question related to this, specifically after the monetary reset/collapse how much gold and how much silver one must own to be considered rich - net worth of $10 million in today's fiat context.

Please 🔥away :)

Link to comment
Share on other sites

In today's world if you're counting your gold in terms of productive mines and refineries you should consider yourself rich.  If you're talking about silver you're not rich.

If your rellies blew their fortune on heroin, hookers and gambling debts then tis a high probability you're upper class.

Link to comment
Share on other sites

Just 100 ounces. 

 

 

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

Link to comment
Share on other sites

i think if you were considering 'rich' simply in terms of gold then 1000 oz would be a starting point.

Always cast your vote - Spoil your ballot slip. Put 'Spoilt Ballot - I do not consent.' These votes are counted. If you do not do this you are consenting to the tyranny. None of them are fit for purpose. 
A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

Link to comment
Share on other sites

Years ago Deutsche Bank divided their customers into preferred customers, with a wealth of €250,000+ and normal customers with a wealth under that. Apart from criticizing that decision, I would conclude that €250,000+ would fall into well off and rich would be a multitude of that (be it €500,000 or €1,000,000).

Do not forget that regular income always plays a role as well, when judging class. Rich begins at monthly earnings of €4,400 for a single or €9,230 for a family of four over here (2017 numbers).

After a collapse, sensibly we would say that the amount of gold to reach that number would be the same as right now - as they say, 1900 an ounce of gold would have bought a well made suit, and 2018 an ounce of gold would have bought a well made suit. So I would agree with the posters above in that some amount of inbetween 500 and 1,000 ounces of gold would break the rich barrier in regards to wealth.

 

 

Link to comment
Share on other sites

10 minutes ago, Paul said:

Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves

well said and words of wisdom :)

Link to comment
Share on other sites

Del Boy's mission in life was one day to become a millionaire.
That definitely defined rich in the Trotter's era.

Today, if you own a 3 bed semi-detached former council house with bay windows ( mature stacker lucky to have paid a pittance / or heir thereof via inheritance ) located inside the inner ring road in London your house is probably worth a million but you wouldn't feel rich.

The new definition of rich is having liquid assets worth £10 million or more, maybe a yacht moored on the Med and a holiday villa or ski chalet in the Alps.
If a rich person had a stack of gold they wouldn't have a clue to its worth.

An upper class person is more likely to have gone to Eton and had a job as an MP or sits in the House of Lords via good connections.
An upper class person may also talk as if they are chewing a caramel and will not have a clue to the price of a litre of milk.

Link to comment
Share on other sites

You can be upper class and poor, working class and rich. Whichever you are be proud of where you come from and understand money doesn’t buy class. Don’t worry about being considered rich. Work out what YOU need personally to feel well off and set about achieving it.  I know people who earn £100k + a year with no assets and don’t own a stick of furniture. I also know people who earn around £20k who own their own home, eat out and holiday as much as they like. They aren’t travelling the world or living lavishly but they are happy and live within their means. Wealth is all subjective to a point.

Link to comment
Share on other sites

12 minutes ago, Xander said:

You'll know your rich when the wife says where's the letter opener and you reply, it's his day off.

Bring back "Spitting Image" - so many great old & new characters to bring on board and so much material to use.

Link to comment
Share on other sites

After a monetary collapse, I don't think gold and silver will be that helpful. They are shiny and pretty but will become quite useless in the short term. Right after a collapse there will be people willing to give up food for gold...but that will not help them/you unless there is a quick recovery. After that initial rush for precious metals, food and water become a lot more valuable than shiny things. That means that you are better to stock up on guns and ammo more than gold because that will help you get the resources you need to survive to see the recovery of the financial system. Get some ammo made with gold instead of lead and silver instead of brass and then you have the best of both worlds. :)

Link to comment
Share on other sites

I would think 5% gold 5% silver so if your net worth is $2 million

 

you should have about $100k in silver and $100k in gold

 

probably some ETFs miner ETFs and half in bullion. In some sort of offshore storage or bank vaults in us. Probably less at home storage and more overseas 

 

 

$10 mill net worth would have about $1mill in gold silver and platinum/palladium.  A lot would be in stocks. Like silver miners and indiividual gold holdings like IAU or gold miners stocks

Link to comment
Share on other sites

Dont know about much but in The US, student debt stands at $1.5 trillion..20% of that is already in default...and The Brookings Institution estimates that 40% will be in default by 2023....students cannot claim bankrupcy or run away from their loans as they can with houses....... Walk away from a house but not a student loan....they will be lucky to own a gram of anything, let alone be classified as middle class....

Link to comment
Share on other sites

On 19/01/2019 at 17:13, Xander said:

You'll know your rich when the wife says where's the letter opener and you reply, it's his day off. Notepad++ Malwarebytes FileZilla

Don't recognize what the future buying force may be, I expect it will develop throughout the following a very long time as Gold motivates increasingly hard to discover. As of now 10.000 ounces of gold for being rich and ca 200 for being well off. On the off chance that you need general numbers. In any case, everything relies upon your conditions.

Link to comment
Share on other sites

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...

Cookies & terms of service

We have placed cookies on your device to help make this website better. By continuing to use this site you consent to the use of cookies and to our Privacy Policy & Terms of Use