How do you typically trade silver? I simply pick up old eagles when they are available at my local coin shop. Inventory is limited to what comes in, but the supply is relatively steady, and it’s priced typically at spot+ a small commission.
How do you typically trade silver? I simply pick up old eagles when they are available at my local coin shop.
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Junk Silver is cheaper and easier to get rid of. It is 90% silver just like the silver dollars but is dimes, quarters and half dollars. It is a little bulky but it is getting less so.
Silver is seriously under priced right now, I see it going easily to $100.00. Lately it has moved nearly a dollar a day on some days. Silver is an industrial metal that has many uses and there is simply not enough of it.
The federal government has added to the money supply by twice what it was, in other words in the last year and a half our money supply is three times what it was just a year and a half ago. We haven’t seen the inflationary effects of that yet but we will and that is when precious metals will really take off. Crammer is not wrong on this except that he is low. I see gold going to $3000 before it starts to slow down.
$20 gold pieces are ok for a hedge against inflation but if you have a few of them stolen or misplace them you have lost a lot. Having a few hundred pounds of silver is unwieldy but that is not all bad.
Silver is really easy to get rid of. If I offered you a silver dollar for $20.00 you would likely jump at the offer. If I offered you a $20.00 gold piece for $1400 you might think you would like to do it but you would unlikely have $1400 in your pocket. If you need to buy groceries you can do it easily with silver coin but no so easily with gold unless you are willing to give away a lot of gold value.
The important thing for all Freepers to realize is that now is the time to get your money out of money and into something of real value, starting with metals is a good bet. Oil, coal, food comodities are also a good consideration. When the high inflation hits, and it surely will then the real estate market will really tank. Prices will go up on the commodities we need to live so buying a new house will be way low on priorities. That will be the time to pick up investment property. People will again walk away from their mortgages because they would rather eat than pay for their houses. Banks will still be bailed out by the Federal government and they will be letting property go for a song for anybody that can pay for it.
My advice is grab your 401k and IRA’s and put them into metal today and in six months to a year the metals will likely top, then put the metal into real estate and retire to a house in Florida.
I’m an old man. I have never seen our country in the condition it is in now. There is simply no way we can meet our obligations. The only thing the government can do is inflate the money supply to pay off it’s debts. That works but it steals the value of savings. I have seen Freepers say that Obama will confiscate our retirement plans, I don’t think that will happen. He will steal the value instead by inflating money supply and paying back the debt with worthless dollars.
With money supply where it is right now one dollar in 2009 should only be worth $.35 today.
The nations of the world know the score. Because we have inflated our dollar so badly our products are relatively cheap compared to other countries. They can buy a lot of dollars for a Euro. That makes their products hard to sell. They instead start selling their money to devaluate it so that they can be competitive. Once everybody starts selling their currencies that will only put more pressure on precious metals. I suspect that after the elections there will be a mad dash to sell sell dollars for gold and silver. People with lots of money are buying lots of metals, they know something.
Most buyers of metals buy high and sell low. Big money people know this and are buying now. Don’t wait too long Freepers or you will be left in the dust.
The health care bill specifies that all gold and silver sales will be tracked from now on...at this pnt.silver is the better buy...also study silver as an antibiotic...