Posted on 03/12/2010 10:14:21 PM PST by Jet Jaguar
Agreed.
For the last year, I’ve been buying 1-oz silver ingots or 1-oz American Eagles.
I buy one or two a month and keep ‘em in my safe deposit box.
Will I get wealthy? Hard to say - but I really can’t picture myself losing substantially.
Nodding.
Broke people go to pawn shops to sell their silver and gold for cash for groceries and mortgage payments.
Deflation.
Yep.
Yup. Gold has to reach $2300/oz to double your $’s.
While Silver as to reach $33/oz.
I’m doing the same with Silver Dollars as you’re doing with
1oz bars.
ping.
How much are picking up Silver Eagles for where you are?
I recently bought a few from Blanchard at 17.20
So what grades did Blanchard send you. Did you get different dates?
I just buy junk silver currently have 50 half dollars at 90% silver. By my math that is 22.5 oz
Here’s a pretty good web site.
http://www.coinnews.net/tools/automated-silver-coin-valuator/
So what do you have Franklin’s, Walker’s?
You might not want to keep your wealth in a safety deposit box. The bank or government will seize it under certain conditions. As for silver, I think you are making the right choice.
The Case For Investing In Silver
http://www.silverbearcafe.com/private/04.09/roota.html
http://www.silverinscripture.com/archives.php#silver
http://goldismoney.info/forums/
Both, I like the look of the Walking Liberty better, but silver is silver, if I am brave I will even get some 1964 Kennedys. I bought them recently and paid 6.50 each
US Silver Dollar (1878 - 1935) = .77343 oz of silver.
2 half dollars = .77343 oz of silver
10 dimes = 77343 oz of silver.
I buy dimes and halfs. THe outfit I deal with does not charge extra for half dollars. I pay about 2.5% over spot for the coins.
At some point, the dimes may be easer to use than any sized gold.
And if everything turns out all rainbows and unicorns, I have a lot of fun coins for the Grandkids to play with / earn for chores performed.....
Gold bugs think you can't have inflation on a gold standard. But the truth is, if production is increased you can, just like this example of inflation with silver.
But you are more likely to have deflation with gold. The supply won't grow fast enough to keep up with the population or supply of goods. That will give us bouts of deflationary depressions. the 1979/198 highs in the silver market is when the Hunt brothers cornered the market.
It also makes the market easier to manipulate.
I remember when the Hunt brothers made a serious attempt at cornering the market. Officials at the Comex futures exchange changed the rules, without prior warning, to state that all new silver positions had to be long.
In other words, during a major market advance selling was suddenly disallowed unless you were unloading what you'd previously bought. I read at the time that in the exchange restrooms you could see traders vomiting and weeping.
It came out later that the exchange officials were personally long silver at the time. I expect to see more of these unsavory interventions by governments and regulators if the financial crisis deepens.
How much did the junk silver cost you? Was it sold to you at a ratio to face? IE. 12 to 1 (12 dollars to 1 dollar face). 6.50 for a Kennedy is 13 to 1. With silver spot right now 17.05, the silver in one Kennedy is 6.17, so to me 6.50 ain’t bad. I buy my junk at two different coin shops. When silver is above 16.80, I go to the guy who seems to always sell at 12 to 1. He even sold me junk at 12 to 1 when silver was almost 20 bucks a couple months ago. When it’s below 16.80, I go to the other one who always sells it, except for Morgan’s and Peace dollars at a ratio to spot. One thing that has helped me out is remembering that any dime, quarter, half combination that equals 1.40, also equals 1 oz of silver, well within .01276 troy ounces.
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