If you read the sales pitches, and that’s just what they are, sales pitches, from the many people pimping precious metals and collectibles, you’d think you were an idiot for not jumping into the fray and elbowing your way to the front of the line to PAY FOR and snatch as much of those items as you can carry and horde.  DON’T DO IT.

The case those pimps make is very strong, of course. Can’t sell anything if you don’t make a strong case for it. But what they fail to tell you is that you get better mileage, today, by GETTING OUT OF DEBT FIRST and THEN putting a chunk of your WEALTH into precious metals and collectibles.  However, I am not one to suggest people participate in the collectibles markets unless they are very well versed on collectibles, or luck out and accidentally buy a fabulous collectible for almost pennies on the dollar, or have already freed themselves of the impositions cause by owing money, by being in debt, and have free cash to sprinkle around…In other words, are…


Why do I emphasize the word WEALTHY?  Because far too many people are buying the bad news predictions that the sky will fall any day now and are running out to spend money they need today to buy into the sky-is-falling phenomenon.  Not smart from a financial point of view until AFTER all debts are paid off. …People at the top, our leaders,  and all the people between you and them,  are resourceful and smart. Nobody wants the sky to fall.  So, rest assured that there are plenty of innovative, inventive, futuristic people engaged in holding up the sky. Put that notion of doom and gloom to rest right now. The sky will NOT FALL. We are NOT DOOMED. Now, get busy to solve your financial emergency!!

You would not be reading this Nugget if you were not already burdened by financial stress.  How did you get here?  It may be a lifetime of bad financial decisions.  It may be a sudden medical emergency. How you got here matters very little.  What matters, now, is what to do about it.  So, let’s turn our attention to financial stress…now that a financial emergency is likely upon you…


You may have no option but to declare bankruptcy and give up all physical possessions. On the other hand, you may be among the lucky ones, so to say, in that, because of your lifetime of buying things, you have enough hidden value in your possessions that, if you can find interested parties to purchase the stuff you have surrounding you, you may be able to shake out significant quantities of cash to apply to your financial emergency. Start by facing that reality.

You must force yourself to understand that Money tied up in anything, in “stuff”, won’t do you much good in the future if, financially, you CAN’T SURVIVE  TODAY.

Got it?  So, let me emphasize that, if you are paying INTEREST CHARGES because of a loan, mortgage, car loan, etc., and are stressed out about bills and costs, today, it makes no sense whatsoever to rush to the front of the line to buy what those precious metals and collectibles pimps are pimping if it means you deprive yourself of that money needed today, to survive.

Okay…you now you get the idea that, there is a correct and an absolutely WRONG TIME TO BUY PRECIOUS METALS and COLLECTIBLES. Specifically, when you are struggling to survive financially, that is the wrong time to redirect your money into anything beyond your financial survival.


The first order of business is to identify some priorities.

WHERE ARE YOUR PROBLEMS COMING FROM?  What I mean by that is: What items recently rose to the surface to make you realize you have done a shit-ass poor job of handling YOUR  money that flowed through your fingers like water?  Was it that PHONE CALL FROM THE COLLECTOR?  A hospital bill?  Was it the recent car accident that doubled your insurance premiums?  SOMETHING triggered you into a panic.  What was it?  Let’s call that EVENT your financial “FIRE”.

What’s your “FIRE”?

Knowing what your “FIRE” is, is important. Yet, equally important is the need to be honest enough with yourself, and especially your family, [family should be intimately involved in all thinking/discussions about money], to determine if your life can regain the normalcy you had just prior to the outbreak of that “FIRE”.  IF it can, (big IF), then your job is to extinguish that “FIRE” if it is humanly possible to do so.  It may not be possible and you may need to simply bite the bullet and declare bankruptcy.  But, if an infusion of cash can extinguish that “FIRE” and allow you to return to financial normalcy, the way it was before that “RFIRE”, THEN WE CAN ASK…AND ANSWER…WHAT CAN YOU DO TO EXTINGUISH YOUR FINANCIAL “FIRE”?

Take a good look around your home, both inside and outside, and in the drawers and those boxes collecting dust in the attic or basement. LIKELY, there is a huge stash of cash laying dormant in all those items, “STUFF”, you bought over the years. Until you squeeze the cash back out of them, those items are merely dust magnets. THOSE VERY SAME OBJECTS may be your very salvation to free you from your financial emergency.  The longer you harbor those items the more they serve as kindling for you to feed the flame of your “FIRE”…and your stress. If those items have some value, they may be the best source of financial “water” to help to extinguish your “FIRE”. If so, then you need to seriously ratchet upwards your courage to convert those dormant cash cows into cash in hand.

After you establish some financial normalcy, following the extinguishing of your “FIRE”, take a few minutes to read my other NUGGETS about creating wealth…by typing the search term “wealth” into this website’s search box.

Good luck.