Silver
- Thread starter shooter_mcgavin
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I think it's a smart move. The junk silver is cheaper and recognized by older people and those who are in the know... but younger people just see an old 10$ roll of dimes.
You never know who you will be dealing with so have some of each to be safe is my advice.
You never know who you will be dealing with so have some of each to be safe is my advice.
Dont just look for coin junk silver. Spring yard sales are fun to hunt sterling silver stuff from flatware to baby cups to candlesticks. Just do a little proof mark research and take a magnet to pretty much make sure you’re really getting sterling silver.
I ain't telling
. I think it is pretty ingenious, and I do have a couple of different locations... but I ain't telling. It is in my will, if that matters!
bingo! I am a terrible market player (I have gotten better over the years, but still....) I am a MUCH better investor in silver and gold. I have cost averaged a little and just done so consistently. It has paid off. I did "time it right" by getting in early when silver was under 5 dollars, but I also bought some when silver was 30 dollars +. I will buy more when it plunges and less above when it "rises" (right now that number for me is 30) but if you have none or very little ANY price down where we are is going to look good in 4 - 5 years.
Those have numsmatic value. Coin shops are "good" but NEVER let someone "take a coin back to the room where I have better magnification" if you don't know him. Darryls in Durham has been accused of that kind of shady crap, and the person accused him of swapping coins. Also, take the coins to multiple dealers. I myself would sell them and swap for bullion.
@Les White . Refining silver (or gold) is an expensive, hot, dirty, dangerous thing. I am not saying it cannot be a fun hobby and maybe you can even make some $$ doing it. It is, though, arduous, hot, dirty and scary as crap to me. Metal splatter when those hot molten liquids hit anything can be disfiguring, if not deadly. It is far easier to just sell it to a broker. They will know the metal content.
DaveTNC
Happy to be here
Help me out here... I keep hearing this about precious metals preserve wealth. How does that actually work in the event of a financial collapse? If the US Dollar gets devalued to the point where it takes the proverbial "wheelbarrow full of bills to go to the grocery store," how does owning silver or gold work? Do you go to the bank and cash in your 1oz silver bar for a wheelbarrow full of bills? Are banks even operating anymore? Does the grocery store accept your 1oz silver bar at some agreed upon conversion factor? I'm just not sure how it would all work.
Despite what's in some of the post-collapse novels, I don't think that silver will become something to barter with. It seems to me other things, like food, medicines, ammo, etc. would be more valuable. Unless there's some local warlord that wants to collect silver and gold for his own amusement.
Plastic peanut butter containers sealed with wax. Post hole diggers to bury. Spread metal shavings all over the property along with some pennies. They would have to dig up the whole area to find it.
You have to decide what you want to protect against. I think Mad Max is so unlikely as to be a waste of time to contemplate. Some think we’ll have hyperinflation and devalue the dollar rapidly, I think it unlikely, but if it does happen the price for PMs should increase to offset the inflation, and then some. If you look at countries that have had this sort of problem, the citizens turn not to PMs, but to the US dollar as the place to preserve value. If the dollar is blown, nobody knows who will turn to what. Short of the Mad Max scenario, it’ll be good to have PMs, but if you aren’t worried that the sky is falling, jump into equities, earn 10% per year, and keep your fingers crossed that the cabal that runs the world keeps doing what it’s doing and lets us have the crumbs.
DaveTNC
Happy to be here
I agree, I don't see a Mad Max scenario, at least in my lifetime. If it does get to that I'll probably be dead quickly enough to not have to worry about it. My concern is mainly the USD becoming worthless. Right now I'm in the "keeping my fingers crossed for the crumbs" category, since I just retired and the majority of our retirement funds are in index funds. I have bought a little silver in the last couple of years, though - mostly junk/constitutional silver.
In the event of an UTTER collapse where there are no financial structures at all and rule of law collapses and you go into savagery... it doesn't. The paranoid fantasies of sitting up in the mountains waving an ak and screaming "WOLVERINES" is what the person who is expecting that should aim for, and that means barter only. Bullets, bandaids, grub, medicine, whiskey, condoms, BASIC SKILLS (small motors and electricity will rule, imo)... other people have made lists, including JW Rawles.... He has a whole book of them.
I don't look for an UTTER collapse. The norm is rather a panic and a convulsion and a rapid movement of wealth from one repository to another.
I suppose there could be such a Tango Uniform situation and everything could fall apart. However, I am extremely skeptical of ANYONE's ability to adequately prepare for such an event. I would likely die along with the rest of them.
The banking system is in a convulsion in times like that. Some fold up. I would NOT go to a BANK to redeem gold and silver. I would recommend reading a little from Ferfal, a guy who went thru a collapse in Argentina. One simple thing to remember. People want stuff. People are willing to swap stuff for stuff. TRUSTED CURRENCY is the medium they will use to get stuff. Right now, people trust dollars. If and when that goes "poof" they WILL seek some other medium with which to deal. What if a guy has potatoes and I want them, but he does NOT want what I have for barter, which is whiskey, or .22 lr ammo? What then? Enter "trusted medium of exchange." Gold and silver have worked for 6,000 years of recorded history, although various other entities have, as well, including pepper, salt, whiskey, ammo, cigarettes, corn, and even rocks. I have placed a strategic bet on gold and silver.
Silver is not a bartering agent. It has some industrial usefulness, but if it becomes a unit of exchange it will be because IT FITS ALL THE REQUIREMENT OF MONEY.
It is rare
It is portable
It is durable
It is divisible
It is uniform
It has a history of acceptability
If you believe you have legit reasons to put your bets on something else, from food (not durable) medicines (ditto) ammo (maybe. I have stockpiled a few .22lr and 7.62x39) or even cabbage patch dolls... then I wish you the best in your choices. This is a game where you place your own bets. Good luck to you.
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quoting above:
"Plastic peanut butter containers sealed with wax.
Post hole diggers to bury. Spread metal shavings
all over the property along with some pennies.
They would have to dig up the whole area to find it."
in Russia, they call it Midnight Gardening.
"Plastic peanut butter containers sealed with wax.
Post hole diggers to bury. Spread metal shavings
all over the property along with some pennies.
They would have to dig up the whole area to find it."
in Russia, they call it Midnight Gardening.
DaveTNC
Happy to be here
Pretty much what I figured, but I thought I'd pick the brains of some of you guys that have studied it and thought about it a lot more than me to see what you think is most likely.
Thanks for the insights.
update:
www.dealnews.com
Coins and Bullion at Walmart: Shop now
Save on collectible novelty and commemorative silver bars, copper coins, gold coins, and more.
www.dealnews.com
Likely the Saudi Arabia announcement cutting Europe/U.S. oil supplies and reducing oil production and some announcements from yet more countries dropping the dollar end of the week last week/weekend I guess. I mean even Kenya urges citizens to get out of the dollar… lol Kenya
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You have NO idea what is coming. This is not a big jump. Wait till all the bobble heads who think in terms of "debt is cool and we can control it" start to get nervous and jump.
Do you remember FIVE DOLLAR days in silver? I do. Late 1979. You would have 2 or three of them in a row, and then a whipsaw around and then in another week ZOOM again..... and things were much more solid, stable and controllable for the dollar then than now.
This is going to be either 1) a screaming fun ride watching silver go to triple digits and we wish we had been more brave, or 2) a terrifying cursing hysteria as we watch the CFPs, brokers, analysts, CPAs and other megaphones for Wall Street/Treasury/Banks wail that "it wasn't my fault.... everyone believed it" and we see wealth accumulated over decades simply "poof".. vaporize
IF the above is true, it will be because we are headed for a major cultural and financial turning point, due to the abuse of power, debt, military based imperialism and unspeakable hubris.
If not, I am just one more loon howling in the wilderness. You decide. See you on the flip side of this.
Do you remember FIVE DOLLAR days in silver? I do. Late 1979. You would have 2 or three of them in a row, and then a whipsaw around and then in another week ZOOM again..... and things were much more solid, stable and controllable for the dollar then than now.
This is going to be either 1) a screaming fun ride watching silver go to triple digits and we wish we had been more brave, or 2) a terrifying cursing hysteria as we watch the CFPs, brokers, analysts, CPAs and other megaphones for Wall Street/Treasury/Banks wail that "it wasn't my fault.... everyone believed it" and we see wealth accumulated over decades simply "poof".. vaporize
IF the above is true, it will be because we are headed for a major cultural and financial turning point, due to the abuse of power, debt, military based imperialism and unspeakable hubris.
If not, I am just one more loon howling in the wilderness. You decide. See you on the flip side of this.
People will give their theories.
Highest it has been in the last few years is when people on Reddit talked about how they could drive the price up if they wanted too. Like the Game Stop stock Fiasco. It was around 22 and got to 30 for a week and then when back down.
Me personally I keep some but if you think it’s a money MAKING PM you would be sadly mistaken.
Silver has always keep low by the big players and will also will continue.
Look at Silver 40 year history. Not impressive. IMO if you want to spend 250 on 10oz of silver I would advise if you want to make a dollar buy 1000rfs of 9mm😎.
BTW this rambling isn’t toward you. Just a opinion for others reading this thread.
Yep
"U.S. PLEDGES ANOTHER $2.6 BILLION IN MUNITIONS AND WEAPONS AID TO UKRAINE"
also... Silver and Gold are INVERSE MONETARY AGENTS to the USD. Every time the USD goes down, PMs increase. That inverse relationship is non debatable.
Checked DXY lately? It is the symbol of the US dollar index. It will tell you more than listening to someone one the internet, including me.
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Also, Gold has broken 2000 for first time in 41 years. 40 or so dollars away from all time high.
This discusses some of what's been happening: https://www.zerohedge.com/markets/g...ak-jobs-manufacturing-data-rate-cut-odds-soar
There is also talk on the interwebs that there is going to be movement against the USD starting with the opening of the Asian markets on Friday (Thursday night for us). with the US banking system shut down for Easter holiday.
It's down about 10% from it's fall peaks, but still higher than it was for much of 2020 and 2021.
In a discussion group about various things and the idea of when the 'digital dollar' takes over and paper money is gone, what would replace it. Barter comes up, but the #1 user of cash isn't going to accept cans of beans or chickens, they'll want something portable. The drug cartels are not going to go "ah well, we can't sell drugs anymore because no one has dollars to buy them". They'll come up with something. One theory I had was that when the USD is outlawed except in digital format (and ultimately traceable because untraceable digital isn't what the .gov is all about) then perhaps another existing physical currency will come into use. Drugs being sold for euros, pasos, whatever and then those start circulating around the US and is accepted by more and more people as 'real money' vs. something you convert to USD to spend. Maybe silver becomes that currency?
Does a 1oz silver coin line up with the typical street level drug purchase?
Does a 1oz silver coin line up with the typical street level drug purchase?
You confused me on that. It was almost 2100 in 2020.
2075 is ath
Good point. Crackheads do trade stolen gold for drugs.
This is why I think the death of the physical dollar is overblown, without it we’ll just start using something else. Might not be able to buy with euros at a mall store, but maybe. The big corporations accept foreign currency in other places, no reason not to do it here, the computers can do the math.
Dale Gribble
Can't starve us out; Can't make us run
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Same, until folks start going hungry. “Never here…we lived in a civilized society!”
No, we don’t. “Civilization” is a veneer and it’s a really thin one. If people are willing to stampede and trample others the day after Thanksgiving over a television or have a fist fight over a package of toilet paper, what levels of ruthlessness will they sink to when they or their kids have not eaten in 4 or 5 days?
People have this crazy idea that humans, by nature (especially in America, the land-o-plenty), are “good” and/or “moral”…
That ain’t the case…at all and every one of us should hope/pray we never have to see it.
Desperate = dangerous….don’t ever forget that.
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Which would likely only made worse by the degree of affluence they’re accustomed to.
Dale Gribble
Can't starve us out; Can't make us run
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Too many living by the assumption.
Food, water, medicine or other necessities…
“It’ll always be there”…until it ain’t.
And given the total dependence upon imports. The until it ain’t is a serious reality.
I keep saying and will keep saying, there are two types of collapse. A.) Total societal collapse, and B.) Monetary collapse. One can cross into the other. I've spent years prepping for total societal collapse. The folks on this forum are probably in the top 1%, in this country, for that scenario. I'm to a point that I'm about as prepared as I can be for that scenario, in my current position. Now, silver is my current focus, simply preparing for a collapse of the dollar, while society continues to remain "mostly" peaceful. Example being the fall of the USSR.
I'll also preface this by saying that I really hope none of that happens. I just can't see how this doesn't end up there. Politicians could have fixed it years ago; but that would have meant some amount of temporary pain. That means some would lose reelection. We all know how this goes.
Dale Gribble
Can't starve us out; Can't make us run
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They are the root cause of it, due mostly to unsound fiscal policy…
and it’s not accidental.
Just wanted to thank everyone for this thread. Had the gold/silver conversation with my wife. To which she replied, "Nobody gives an *expletive* about gold or silver when SHTF. Guns and ammo are where its at."
So through the transitive property, this thread allowed me to buy two new guns in the past two weeks. Keep doing God's work, fellas.
So through the transitive property, this thread allowed me to buy two new guns in the past two weeks. Keep doing God's work, fellas.
Who needs to buy silver and gold when just talking about it pays off for you! Nice work.