If you’re still considering investing in silver as a store of wealth and worst-case scenario currency unit, we recommend you review the latest micro documentary produced by Daniel Ameduri of Future Money Trends, in which he notes that growing industrial consumption and investment demand, coupled with falling production, could lead to shortages by as early as 2015.
To put it simply, it is getting harder and harder to mine silver, taking more time and energy, both human and liquid, in order to get silver out of the ground. Right now for every ten ounces of silver mined the world is mining one ounce of gold. Gold, however, is trading 53 times higher than silver. The opportunity in silver is epic. The paper price suppression has made silver the biggest buy ever.
Silver, a physical commodity that is needed for everyday uses, is being traded on the Comex at least a hundred times more than the actual physical supply. This has made it possible for a billion ounces of silver to be traded every single day in the paper markets.
The supply of silver has been distorted and investors have been deceived into selling silver for $30 per ounce.
FutureMoneyTrends.com believes the suppression has become a gift for the average person to finally strike back at the heart of the machine that has benefited from the fiat currency system.
Earlier this year we saw silver touch $50. It promptly retreated to pundits’ calls implying the precious metals bubble had burst. Believe the fiat cheerleaders if you choose.
The reality is that silver hit $50 when average people around the world smelled crisis. We stronly believe that the economic and financial crisis which gripped the world in 2008 has only gotten worse. The governments of the globe have been able to paper over the problems and kick the can down the road a bit further. But look around.
We have leaders in G-20 nations – industrialized, first world economies – now discussing the real possibility of collapsing currencies, breakup of the European Union, riots in the streets, and as Fed Chairman Ben Bernanke noted, even bank runs. In his words, not ours:
If there were a disorderly default, which led to, for example, runs or defaults of other sovereigns or stresses on European banks, it would create a huge amount of financial volatility globally that would have a very substantial impact not only on our financial system, but on our economy. So, it’s a very, very serious risk if that were to happen.
They are unable to contain the of contagion. The risk is real. It is spreading. And we’re all infected.
It has been said that silver and gold are investments that protect against inflation. While this is true, inflation is merely a symptom of a far more dangerous underlying issue. We are witnessing the collapse of entire nations, and as a result politicians and financial leaders are taking extreme steps like the printing of trillions of dollars and euros in an attempt to save the system. Silver and gold have, throughout history, been the safe haven asset of last resort. It’s the only financial asset guaranteed to maintain or rise in value when the people lose confidence in their government.
This imminent shift into silver as protection against collapsing sovereign governemnts, economies and financial systems will, in our opinion, drive silver to highs never before seen.
We know – you can’t eat silver. But for those who have already taken our advice and invested in food, barterable goods and post-collapse trade skills, consider silver as a way to keep your wealth portable and safe.
Good article. I believe it’s very wise to not leave all your money as cash in the bank; rather, take some out and purchase as many silver rounds (especially Silver Eagles) as you can or feel is necessary to use as a hedge against the declining value of the dollar. Your dollars can go to a zero value but silver will never go to zero. In addition to the risk of your dollars become worthless, every day the purchasing power of your dollar is going down. To me, it’s a no brainer to buy silver.
Just my two cents worth.
I live in Denver as well, Richard. I often go to Lakewood Coins at Colfax and Teller for a quick silver purchase, and sometimes gold if they have a small-enough denomination for sale. There’s always the coin shows too, though they happen only once every two months in town.
Thanks for the info – I’ll check them out.
Richard, I am sorry to inform you to my shock that the store I mentioned has closed. I went by Saturday and they were gone. I am puzzled.
I’d been visiting Lakewood Coins since 1992, and I am very sad to see that the store has closed. Does anyone here know what happened?
Here’s to Fred and Virgil Lowe, the proprietors. I’ll really miss their folksy stories and after-hours beers!
@ Richard –
100% agree on the Silver Eagles. They, like the US 90% silver are widely recognized and would be accepted in a barter type of a world. I would be very careful about saving a small amount up front by buying a ‘no-name’ brand of silver rounds. You may find that they aren’t very well known and that others may be reluctant to accept them when offered in trade.
Yes,I was “deceived” into selling my silver at $38.50/oz this recent September. Silver is now at $29.50/oz. So far that “deception” made a profit of $9/oz (about 27%). I guess that I’ll buy some silver back when it hits about $25.50/oz. No sense of being too greedy about being “deceived”.
One could probably eat a 90% silver dime and pass it safely. Anybody seen one of the new gold colored $100 Bills yet? I have not. Am I second? Where’s that smoky okie?
Gold tinted? I thought gold was a barbaric relic. Why don’t they use lime green, or rocky road chocolate hue? The latter would be very fitting for our economy.
By using gold colour (yes, I am a conservative Canadian!)they are tacitly illustrating that fiat is just paper
Just added another 100 oz..
You want me to hold that for you?
you go guy!!! your foresight will be richly rewarded sooner than you think.
But! But! But! You can’t eat silver!!!
Oh, wait. You already said that.
Green monster don’t scare me.
Somebody needs to explain to me how they can trade a billion ounces a day of silver that does not exist.
Who in their right mind is buying it?
It is called a contract. You buy the right to buy one contract (representing 5000 ounces of silver). The contract has an expiration date. Let’s say you bought a long contract (assuming the price will increase) at $30/oz. and the contract is valid for 90 days. You do not have to pay for the 5000 ounces because you didn’t really buy it. You just bought the right to buy it at that price. You DO have to cover the margin. The margin is the safety amount that the broker holds. If the price were to go down to $29 / ounce you would have to cover that $5000 plus the margin. If the price went up you just have to leave your margin money with the broker. Let’s say the price goes to $35. Now you can sell the contract and pocket $25000 plus you get your margin back. If you don’t want to sell the contract you can take physical delivery but that is almost never done. If you were to take physical delivery you woould have to pay $30 per ounce times 5000 ounces or $150,000.00 You would be ahead of the game by $25,000 because the market value of your silver would be $35 times 5000 or $175,000.00
Conversely, you could have went short on that contract with the same margin requirements and you would have lost $5000 if the price went from $30 to $35 BUT if the price went down, say to $25 then you would have made 5 grand because your “short” contract gave you the right to buy 5000 ounces of silver that you didn’t really want to take possession of for $5 less than market price.
You should be thoroughly confused by now, LOL.
the same people that are selling, are the ones buying. From computer to computer. That’s why no one actually knows what the real street value of silver is. BUT, our day is coming. The price controls won’t last forever. When these ponzi currency schemes breathe their last breathe, we’ll all find out just how high the price can go. Unfortunately, at that same time, we’ll have rapidly rising prices on everything.
Just study the fine example of germany , pre-WWII. This same scenerio has been played out many times, and we are living in the next act of collapse now. The new normal is coming, get ready for it.
25 oz gold
1000 oz silver
mass quantities of ammo
years supply of food
bring it on
you forgot the margarita mix
Jagermiester…and Red Bull…
I advise all to please remember there is no anonymity on the web. If someone wants to find you they can – and will. Don’t advertise your “wealth” – makes one a target.
I am a citizen of the United States.
I have about $100 trillion.
Oh, wait! Shit! I OWE $100 trillion. I am so screwed. I wonder if I can discharge $100 trillion in a bankruptcy proceeding?
OK, here is a payment plan, $100 per month for, um, daang. A really, really long time.
A few other options to consider:
If you have a 401(k), 403(b) or 457, from a former employer sitting around, you can roll it over into a gold/siver IRA without any tax penalities.
If you are over 59 1/2 yeads old, currently working and have a 401(k), 403(b), or 457 with your employer, there is an 80% chance you can take all or part and transfer it into a gold/silver IRA with no tax penalities.
If you are under 59 1/2 and working for the employer that has the 401(k), 403(b) or 457, chances are slim you can roll it over into a gold/silver IRA.
In a Gold/Sivler IRA, you own physical metals that are stored in a vault with your name on your coins so to speak. Taking delivery of your gold and sivler has the same rules as taking money out of your 401(k), 403(b) or 457.
My wife just did a rollover using Swiss America and they were very helpful in making it all happen.
Last year I borrowed the maximum against my retirement account and bought Silver Eagles when spot was $16.16. This was also a non-taxable event and I get to actually store it myself rather than rely on some company far away that might go the way of MF Global.
One can do this regardless of age even if they are still with the same employer. Sure, I did not get as much silver as I would have otherwise, but it has already appreciated to the total value of my retirement account (which I still have).
what if your 48 and all you have is a .357?
sorry i couldnt pass up the numbers game
VRF,Buy more ammo? Love the question. Rolling some coins at home this weekend and found 2 pre 1960 quarters and a 1946 dime, all from pocket change over the past 3 months.
Folks search your coin storage you have, even the pennies.
definetly..magnum rounds no doubt
that will NEVER happen again in your lifetime, that was extrememly lucky, I have gotten a total of SIX silver coins in change and I have been searching my change for over ten years and I always pay with bills (never give coins, not even if the total comes to $XX.01 so I get tons of change
Lucky you, I have been rolling up some change, well alittle 5gal water bottle half full, So far 2 pre64 dimes, out of 400.00 in quarters not a single pre 64 yet. and I could sell all these pennys for copper I’d be a the gunstore..LOL
have a great day,
You know, looking at your change has an interesting underlying meaning. I save pre-1982 pennies for the Cu content, and since 2008-09-ish I’ve noted how many shiny 60-70’s pennies are in circulation these days. Silver coins are much rarer, but I’ve heard stories of odd cases of those turning up on a localized level here and there as well. But the pennies…to me it reveals how many people are digging into small change jars and buckets that were pocket change dumps for many people at the end of each day. You know things are bad when barely circulated 30-50 year old pennies are suddenly being seen regularly.
Get out of all paper , NOW! As Ann Barnhardt exquisitely suggested regarding your 401K, would you rather have the 10% penalty and cash in hand or NOTHING?
Cash and Precious Metals and the rest tangible sustainable assets, i.e. the kind you can hold in your hand. The ONLY paper you want is that case with TP.
I wonder if our give-away and take-away govt is quietly watching us buy gold and silver and when the SHTF they will take it away from us. Just wondering.
Of course they will TRY, THEY want it ALL! EVERYTHING. That IS the PLAN. But here’s where they might meet some resistance. Anyone smart enough to have precious metals has the means to protect it.
From this article and many others I’ve read, silver is very much undervalued. The gold:silver ratio has been kept artificially high for years after millennia of fairly steady mid-20’s to 30’s ratios. Modern trading methods with billionaire speculators and gov’t sourced pressures have done much to change this ratio to its high level. These people buy and sell PM contracts to make quick “profits”. When you have billion$ to play with, you can make 100’s of thousands of dollars with just a few dollars rise/fall in a PM ETF/contract…nice way to fatten a bank account real fast. Recent ups & downs of silver and gold values has a lot to do with how COMEX and ETF works. A change in % of money down required via COMEX had much to do with the last huge drop in Ag/Au a few months ago…speculators didn’t have the new cash down prices required so sold what they had to buy another day. Expect gold and to a greater extent silver to continue to increase. China is strongly encouraging its people to buy silver, and they are. India’s people hold 20% of all above-ground gold. Buy low and hold it! Watch paper holdings, or “vault storage” agreements, and IRA/403 etc, holdings…Big Brother knows what you have then and they will take their cut first when you “cash it out”, and if the S *really* HTF, good luck on ever getting your hands on your paper and IRS gold/silver sitting in someone else’s vaults! Gold and silver are inflation guarantees over time. Historically, a fixed amount of gold has bought the same value of goods for thousands of years; real money in other words. Happy accumulating!
Silver is cheap! Buy now and buy often! In 20 years you will be happy to have it!
In 20 years one might be happy just to be alive.
Yes, at 85 years of age, I suppose that I will be happy.
I have been reading this site for a while now and it seems that this group of people are thinking and ready. Silly question to all, I have never bought metals. What is the best way to go about this. I also do not trust the banks, and am keeping cash, so would want to physically hold the silver and gold.
Thanks for your help
We have bought from the Northwest Territorial Mint and they have been great. I try and buy a roll of junk silver dimes every paycheck on Ebay. Last roll was $130.00 delivered.
You might try Craigslist and pay cash in a public location. No transaction record, no CC record, nobody’s business.
I’ve used APMEX to buy silver in the past. You can order it online and pay with a money order or check. My advice is to buy from a reputable dealer. There’s a ton of fakes on the web/market right now. IMHO.
This is a safe site for me.
Depending where you live, you might try your local coin/bullion shop. I’ve got a half a dozen I’m connected to, but one in particular where the owners are a family and are preppers and honest. They have a huge turnover of metals; coming in and going out and they pay cash when you bring in to sell. They have a great vibe and if you lived in the Pacific NW I’d give you specific directions.
On the other hand, there are coin shops that I avoid. Like walking into one of those gun stores where everyone on staff is on edge.
The key is to establish a bond, if you can, with the owner of the store. Go in and keep to yourself but make a purchase. A couple thousand a crack, if you can afford it. Get to know their names and make sure they remember yours. When the time comes, and you need some cash, take a few rounds and since they know you and figure you probably bought the bullion from them, the transaction will probably go smoother.
I would suggest NOT buying numismatic coins. Stick with bullion, both gold and silver. One Ounce Silver Rounds, but eagles and maples are probably the best route to go. Get a few ounces of gold, too. Eagles, Buffalos, Krugerrand, Maple Leaf, are some of the more common and popular, if you’re in the States.
Good luck, it’s a smart move.
PS If your purchase is less than $10K your name and address is not required (at least where I’ve been purchasing). Over $10K, supposedly the IRS is notified. Don’t over get on that list. Buy in small increments.
they are also very helpful on the phone
Good luck and be well
I go to my local shop about 25 miles down the road. Great prices, deal in cash, get to see what I’m getting, and walk out with it my hand.
/sigh…IN my hand. Yes, my hands usually walk out when I do!
If they know you have it, they will come get it. Local coin shop. Cash. Need I say more?
No, I don’t think that “they” will come to get it. They will have a lot more to do, just to keep the USA union together for the Washington, DC, politicians.
I go to a local dealer. In the Western suburbs of Chicago, Fox Valley coins is great. Just get “junk” silver (the pre-1965 coins). There is little mark-up, they are easily recognizable, and things like dimes could be used for very small transactions.
Don’t forget to remember the Lord during these times. I preach to myself here, too!
just check the major online dealers. You can find user ratings on any of these companies, that will tell if there were any problems. I have used gainesville coins many times, and had no problem whatsoever. I don’t work for them or anything, just a regular customer. If you want honesty, these people are hard to beat. just do some research.
I have noticed on many web sell sites, that the lag time before you get your order is increasing every day. That’s your sign that supplies of physical are tightning up. Good luck.
That headline is not hyperbole.
Hard times will be harder for those not holding gold and silver. And remember, folks, if you can’t hold it in your hands you don’t hold it. Gold and silver will always have great value. It is quite likely that gold and silver will become the de facto national currency for the black market that will thrive in the wake of the destruction of the dollar.
Dear ALL members,
as long as ETF ongoing,
the price of gold n silver will drop.
Let us together stop the ETF purchasing,
no more paper gold or paper silver.
BUY and GRASP the gold coins n silver coins as many as u can.
otherwise everybody talking the price of gold n silver will go to $3000 n $150 is useless.
You are right Raymond. Some are saying that the reason silver is down is because EFTs are being dumped because everyone knows now that they should not have their money in any paper, (stocks, bonds, EFTs, Dollars). At some point investors will figure out that EFTs are a sucker bet in these crazy times. Physical possession is the only answer.
I not a huge fan on metals but I’ve found a Very good supplier. http://www.scottsdalesilver.com and I though everyone could benefit.
I haven’t been holding silver, but I been using it to barter and I’m saving a lot of money. It enables me to buy more preps and silver. Not that I’ve done it a lot but my savings is running 32 to 50% off what I would have otherwise paid out of pocket.
So far its worked at the Vet, Dentist and Plastic Surgeon. I’m now trying to work a land deal for $28K which is as low as I could get him down. I offered him 480 oz. of silver as full payment and though he hasn’t said yes yet, I think he is going to take it. Folks that’s an $11,200 savings for me.
Again this deal would not work using 10.2 oz. of Gold, but when they see all those shinny silver bars they just can’t resist.
Also Scottsdale Silver has a way for you to purchase physical silver inside your IRA.
Patriot One – I don’t buy bars but rounds (mostly Gold and Silver Eagles) because bars can be easily counterfeited and most places and individuals want you to have it assayed before they will buy it, which cost you time and money. So, I use Provident Metals to purchase rounds and have for about four years. Before that I was using APMEX but they started marking up their rounds higher than Provident and I switched.
Thanks for the info RID. As I said I’m not a huge fan of metals, but I’ll use them if I can save 40% on services of stuff. I’m finding that professionals know something isn’t right but they won’t move into metals on their own. When you put them in their face it’s like a mystique of metal overcomes them. I save 40-50% that I can redirect my savings into other items.
A time is coming when the services I can provide will be worth there weight in your gold and silver. My bullets, beans and bandaids will be worth twice their weight in gold and silver.
NetRanger has it mostly right, but I think you have to have maximum utilization of available resources and if I can save or gain by using metals I’ll do it. When the shit hit the fan you are going to need to be flexible and adaptable because no one can think of all the things that are going to go wrong.
I personally want to surround myself with smart people who know, they don’t know it all.
You are right, if things get really, really bad, people are going to want food, protection, and shelter. It could get to a point where people don’t want to barter for gold and silver but only for food, ammo and guns and other useful things like batteries and candles (you can’t eat gold and silver nor does it provide light to guide you). As it says in Revelation, one day gold and silver will be thrown into the streets. I’m assuming that that means one day gold and silver will be worthless.
I have no idea how bad it will get but I do know that it is going to get very bad before it gets better. I sold all my stocks in late 2008 and, with a lot of praying, my goal was and still is to use the money for food, guns, ammo, gold, silver, some cash-on-hand and fortifying my “bug-out” farm, soon to become also a ranch with some goats and a few cattle (maybe).
You make some good points. I think flexibility is essential in the coming days. You are right, no one can figure out all the angles in future scenerios. Just be ready to think on your feet.
My opinion on using the metals now. if you wait a while, everything you bought now will be much cheaper, 6 months from now. When the collapse happens, many silver bugs will prosper greatly, if they can just keep from getting killed by the throngs of rioters who will inhabit the land. There’s always a flip side to the coin. Good luck.
If you buy “junk silver” you won’t have to worry about counterfeiting, BTW
So, who do you think will buy this “junk” silver when SHTF? I believe no one but many will buy silver Eagles. I’m just saying.
He’d be a fool to take 480 oz of silver ($15k or so now) instead of $28k. If he took cash, he could go the next day and buy 875 oz of physical silver.
The simple fact of the matter is that buying silver to “make money” or, rather “gain profit” is a foolish move.
Another foolish move is to buy a whole bunch of silver and gold and expect it to see you through a crisis. Its true! You can’t eat your PMs. When TSHTF, you’ll need a SHTFPlan and, bare knuckles, it needs to include:
Security (guns, weapons, hidey holes – for you and stuff!)
Shelter (From a tarp to a mansion)
Sustenance (Air, Water, Food)
Cover these three areas first. Once they’re covered and if you have extra, put it in silver.
The silver or gold will only do you good after the initial chaos. When people are killing each other for the last morsel of food, forget it. A truckload of gold won’t do you any good.
Once things calm down and an economy of sorts emerges, silver (and to some extent, gold) will be come a medium of exchange beyond usable goods.
These are KNOWN facts from multiple collapses. These are maxims not just fantasy (like much of our speculations, mine included). We think we know what will happen but much of our information could be completely wrong. If the information above about the Three Ss and gold/silver, it would be an anomaly.
Good luck. Godspeed.
Jeez. The older I get the more my brain seems to skip: If the information above about the three Ss and gold/silver are wrong, it would be an anomaly. Ugh…
NetRanger, you are 100% correct.
My take for buying silver and gold is this. Neither should be considered an investment. Buy gold to protect wealth and buy silver to sell and barter with when SHTF. Gold values are too high to use when SHTF – who will give you change for buying a pig with one one-ounce of gold? Silver will be the best to use during a total society meltdown. Just my two cents worth.
iPads suck. Sorry for the thumbs down.
I gave you a thumbs up but I’d have to say Silver will DEFINITELY be use as barter prior to the establishment of a new currency, what ever that is (shells and beads), and the new currency can be purchased with the Gold. And if it’s a Gold back currency, well, do the math.
I agree 100% NetRanger!
Anyone that preps should have at least some pre 64 silver. A lot may not make a lot of sense if it hinders other needs. A family member of mine who can’t afford to “prep” with silver adds TP, 22LR, and bulk materials for candles and soap to his mix. He’ll do fine without a lot of silver or gold I’m sure. Plus he doesn’t have to spend $35 on an ounce.
There will come a point in “SHTF” where you need to unload your silver/gold for its peak value; for after that real goods will be far more valuable (seed, land, equipment, fuel, power, services). Who knows when the right moment will be.
For me, last spring, I scored a pretty night Walther PPK/s in 22LR for 15 ounces of silver. Those silver rounds from Canada cost me about $90 many years ago. I know I’d have never bought that Walther many years ago for $90.
silver, shmilver, when i went to survival school in the jarheads they didn’t say anything about silver or gold.
I have 50 pieces of those silver coins but what am I supposed to do with them?
Having pieces of silver is just like having an insurance policy. Hope you don’t need it, but it is comforting to have. But unlike an insurance policy, silver pieces can insure you without any time limitation.
eating roots and berries, and running around in the wild, gets a little old after a while. I’d rather hold up in whatever location I have chosen, and try to just get by the best I can with what I have saved up. I feel like I have a better chance with some metals in my pocket, than none.
But, if you like running around in the woods, more power to you, and good luck.
All this crap that’s happening in the world reminds of the cycles demonstrated in the old 80s movie, “Heavy Metal”. I just watched it again a few days ago and laughed at the representation of the “Green Evil” that runs it course throughout all time. This time will be no different.
As for Silver, yep, I actually got in at $8 an ounce and just keep stacking. You don’t have to go crazy. If you were to buy 10 ounces every month for the past 3 years alone, you would have 360 ounces. Just like the beaver that builds a damn one log at a time, build your Silver investment over time, little by little.
I looked on Craigslist the other day for junk silver and not one single post was to be found, nothing!!
Earlier this year you could find several every day….now nothing!!! This sucks cause I found it to be the best and cheapest place to get junk silver in person leaving no paper trail. The coin shops and jewelers are crooked rip offs!
BJ I post want to buy ads there all the time. I never even offer a 100% of coinflation.com value – usually about 85 to 90% will get me plenty of responses. I now have enough in face value silver pre 64’s but if you want some from craigslist I suggest a WTB ad, meet up at starbucks and carry a gun.
I have never tried the WTB approach, always answered the sellers ads. I was getting it right at coinflation price or a little lower. And always met in public…you should of seen the looks me and another gentleman got in a MCDonalds for an hour one night as I looked over all the coins one by one and weighed them….LoL
Hey guys(and ladies) check out the web site silverdoctors.com, discovered it last week, many good write ups about rehypothecation and He has a good one about jpm stealing the mf global silver (the numbers mach up perfectly)
Next month it will be iron, or corn, or rocks. Not buying it anymore. Food, chocolate, sugar, guns, amo., cigs., alchohol. And that’s all folks. Oh, and don’t forget the toilet paper!
I heard there’s a toilet paper shortage.
You’ll get some in the end.
(sorry, couldn’t resist)
let’s roll on to another subject.
Great points Justice! I am totally down with the chocolate, my only real vice.
I wonder what someone would trade for a roll of TP if they were wiping their butt with their hand or a stick. Especially those who have never camped outdoors.
What would they trade for a cheap (now) box of strike anywhere matches?
The ones who tell me you can’t eat silver or gold, I tell them to try eating their 401K statement. Be sure to try lots of salt with it. I’m still adding to what I have. Everyone get it while it’s cheap!
Here are the 5 major categories to prepare for before SHTF:
1) Food and Water
2) Home/Shelter (including home security)
3) Protection/Self Defense
4) Hygiene/Sanitation/First Aid
5) Barter items (small, usable/functional items like disposal lighters, duct tape, candles, flashlights, batteries, booze, ammo, etc.)
Hope this helps someone, God Bless
Richard in Denver
Never forget chocolate and sweets. Keep some chocolate bars and sweets in the freezer until day X. These goods will do even better then silver when things get really bad.
Great advice all the way around Richard and in your many posts. I’m with ya and everyone else should start. Nothing bad can happen if you’re prepared and the worst happens. But if your not prepared, you’re in trouble. If you prepared and it all works out – so what, you’ve been prudent. If you think you’re lucky – maybe, when you’ve not prepared and nothing happens. But like the grasshopper and ant, which do you want to be? Darwinistic, maybe, but if you’re asleep as Gurdjieff says about humans, many will suffer.
Some guy on the radio (and it’s funny because half of their commercials are trying to sell you silver and gold) was saying this silver buying reminds him of the time just before the dot-com bust, when people were still buying dot-com stocks after they’d had a run up, and then a run down, people were convinced they were headed TO THE MOON!
You can’t eat silver. It may be better to hoard silver than FRNs though.
There is a big difference. People who invested in the dot.coms were looking to make money. Most of us (at least on this site) are buying silver to use when we have an economic/financial/social meltdown (and it is coming – the question is not “if” but “when”).
Dwindling supply, increase in demand equal higher price. Once the manipulation ends it will skyrocket. When the dollar collapses everyone will go into silvef by default. Not many people can afford $2000+ an ounce for gold. Where else can you go? Land?
I read an interesting comment the other day. This fellow said to start holding just plain old pocket change. The common everyday pocket change, even though it’s not silver, isn’t a Federal Reserve Note. Common change isn’t minted to infinity. There is a finite ammount around. I think when the FRN finally collapses, people will look for anything that isn’t paper.Plus, right now, with the price of scrap, a nickel, is actually worth more than a nickel in scrap. So are the pre 82 regular pennies—all copper.
Common sense dictates that when the paper dollar goes, no one will accept it for anything other than toilet paper. Sounds like a plan.
I have had a good experience with Tulving.com. I use to use APMEX, but they are local and I have to pay sales tax if I buy from them. Tulving has the best prices I have found, bar none. Problem is they have a 500oz minimum on most silver purchases. If you can handle that, or arrange a group buy with some trusted friends, it’s a good source.
Just be aware if you try to educate your typical citizen about silver being real money ! http://www.youtube.com/watch?v=FPB5ghc8SJo
This is even more unbelievable !! http://www.youtube.com/watch?v=Gk5aRIz17fk
I posted this question a while back but have yet to make a move.
We inherited a very large amount of sterling silver jewelry. It’s mostly Italian chains. When I say a lot, it probably isn’t a lot compared to the money you all are talking about, but it’s around 300 pounds of silver.
What should I do with all of that silver? Should I save it as is for a rainy day? Should I cash it out and buy preps? I have absolutely no idea where to go with this.
In a post-apoc world, silver chains might be an awesome barter item. You might want to hang on to as much as you can.
Daisy, 300 pounds is a LOT of silver!! Do the math – at $35/ounce, that’s 168 thousand dollars!
First step is to have it all appraised (you said it was sterling, just need to make sure) by a reputable dealer. Whether you sell depends on how much you’ve prepped so far, but from your previous posts, you should be in good shape in that area.
Next step is to consider trading the jewelry for something more “barterable”, like junk silver or silver rounds. Grandma’s bling may look nice, but it will be hard to prove to someone that it’s sterling silver when SHTF. You’ll take a loss if you do it thru a jeweler or coin collector, but you probably won’t exchange it all anyway.
Last, practice good OPSEC and don’t let anyone (neighbors, co-workers, relatives, etc.) know you have that much silver! Although you posted this info on this forum, we don’t know where you live. Point being, please be careful!
Trade it in for Silver Eagles. A Silver Eagle is a US minted coing tahe anyone will recognize and accept. Spending a silver chain would be very difficult.
Also, US silver eagles have an interesting tax advantage. I would have checked out the fact that any appreciation is not regularly taxed. But I don’t have any, so the tax advantage doesn’t interest me.
Daisy, if it was me, I would either sale it or trade it for Silver Eagles. The Eagles can easily be used for bartering. Jewelry is more difficult because it will be harder to determine the value at the time of bartering. Silver Eagles, on the other hand, are recognizable by just about everyone. And, it states on the face that it’s one ounce of .fine silver making it easy to determine a market value at time of bartering.
Just my humble opinion.
Daisy – my 2 cents.. before you do anything, have it evaluated by at least 3 jewelers; preferably those that deal in old or antique jewelery. You don’t really know what you have until it is appraised.. by a professional.
Although it is unlikely, it is possible that you might have 1 or 2 peices that might be worth more that the full weight of the silver content..
You can always sell.. but first, try to figure out exactly what you have.. 300 lbs is a lot. If that is regular pounds, that is 4375 troy ounces..
Yep – regular pounds. I weighed the tubs that I have it stored in and subtracted the weight of the tubs. So, it’s approximate but that is probably on the low side.
None of it is antique. When I was married we had a silver jewelry store and these chains are chains we imported directly from the factories in Padova Italy. When my ex died, he left the inventory to me.
In selling this kind of silver, would I deal with one of the companies mentioned throughout this thread?
Will someone help me out here. With that weight could dealing with refinery be the best way to convert to dollars and leave out a middle man. Please your thoughts
Daisy – there’s a lot of Italian silver out there from the 1980s, remember when it was being sold everywhere? I pick up Italian silver chains at garage sales during the warm half of the year for 25c or so, people have had it forever so they don’t consider it to be worth much, “Oh, just some old chain my BF gave me in high school” etc. But it’s good stuff, not like the fake-O stuff out of Mexico.
I’d sell it and trade for “junk silver” coins, quarters and dimes and so on.
Daisy – whatever you do; do it thoughtfully and purposefully. That is a nice chunk of change.. you have one shot to get it right. Take your time and have it evaluated properly..
Most importantly, keep this very quiet.. there are people who’ll happily kill you for a few dollars or a nice pair of shoes.. over $100K in silver ?? Be CAREFULL.
Sam, Your answer is on the mark. No ifs’ ands’ buts’
Daisy, The conversion of this asset can go a long way to improve your preps. I am sure you have the basics covered. This would be a way to expand on them. Think too of land, vehicle, home improvement.
Yes, PM’s should figure into a portion of the proceeds from any sale. What type of PM’s will get you a dozen different answers. The best answer is diversity, 90%, ASE, silver rounds, AGE. Stay away from those stock brokers and finance counselors!!.
Please consider OPSEC precautions before,during, and after any transactions.
Best Wishes. Just one old Montana man’s thoughts.
Daisy, that IS a lot of silver. 300 pounds? As they say in India, “Holy cow”. Sterling has a higher silver content than pre ’64 US coinage, which would be the best thing to convert it into. Like RL says, you can’t spend jewelry, but you’ve got a great deal of wealth there and it would be much better to have it in junk silver coinage.
An honest coin shop will help you with that. But like has been said, bullion comes after all your other needs are made provision for (food storage, water, ammo, etc.)
I disagree with the idea that silver is only a store of value and not an investment. The silver market has been fabulously supressed and prices are artificially low. When the breakout occurs (and it will), silver will slingshot way past its recent ratio to gold (50 or 60 to 1) up to 15 to 1 or so. Gold will be stable, silver will skyrocket. Any one unit that will buy you one widget one year and 20 the next year could be said to be a good investment.
Well, yes, silver could be considered a good investment. However, figure that it’s more an insurance policy for storing wealth. It will probably move up in price quickly, but remember, it is priced in a currency that’s moving down. Thus, even if it just keeps up with the USdollar crash, it will serve its purpose.
The bummer is that the US government is in partnership with you as the system is set-up so even if you do maintain your wealth, the US government tax people will demand “their” pound of flesh.
You are so smart!
lots of itty bitty followers here,,, just so ya know,,there’s always been a medium of exchange,,even back when folks lived off the land.Why would you buy one pig with an oz. of au when in a few years buy 100 pigs,,,right now one could buy 30 pigs for an oz.of au.No profit ya say????I have bought au for $385,$400,on up,,what increase is that at current price of $1660? At any rate fella’s if you’re broke after tshtf you can always get a job working and getting paid in gold or silver!
ps; as an infantryman in nam I was always amazed how the vc and nva could live to fight another day,,then it occured to me that it was plain ole stealth,,,that’s your best weapon.
Another suggestion- try Monarch Precious Metals.(monarchpreciousmetals.com) Nice little company in Oregon and the spread is pretty low. And they stamp all their own stuff by hand. How cool is that!?
Now for the latest news from the real world…
A United Airlines flight made an emergency landing in Colorado over the weekend. Turns out there was no real emergency. Just that one of the flight atendants thought she saw Alec Baldwin on board. Fortunately, he wasn’t, and the passengers continued safely on to LA.
Michelle Obama set a world record for getting the most people doing jumping jacks at one time. Reportedly over 40,000 kids joined in her record setting quest. As a special prize, she gave each of the participants 10,000 of her frequent flier miles. (and still had a couple million left)
Talk show host Michael Savage has offered Newt Gingrich $1 million if he’ll withdraw from the race. No word from Newt if he will accept, but there is a rumor that Jon Stewart and David Letterman have each offered him $2 million to stay in. Says Letterman: “There’s just too much good material there to let it go to waste.”
Reverend Al Sharpton is facing criticism for taking a $240,000 salary from one of his ‘non-profit’ organizations even as the group is a couple million in the red. Including a ton of unpaid taxes. Now, the good reverend is saying it’s not his fault. He said he has his taxes personally prepaired by Tim Geithner and he figured everything was fine. Plus, his salary is based on a complicated formula and is out of his control. Turns out the ‘formula’ is the prime rate X the total number of Republican candidates X the square root of the number of jumping jacks participants…or something like that.
Border Patrol agents in southern California seized a huge quantity of meth this weekend. Nearly 30 lbs of the drug were ingeniously hidden in some cans of nacho cheese sauce. What tipped off the feds? It was the sign on the side of the carnival concession trailer which said “Fresh Hot Nachos-$6,000 per order”
And, for the record, I’m still buying silver just because it’s shiney!
The Pm’s have been doing some strange things this year. I always figured that when the world economy was going down the toilet….that PM’s would be going up. Instead the opposite seems to be happening. Not sure if it is because of the Paper wagering going on, or if there are folks selling because they need to cover their other investment loses….or just pay the bills ? I was in a temporary liquidity crunch last week & needed some bucks to close a deal….so I sold a couple gold eagles. It appears that it was a good time to sell as the spot is down about one hundred dollard since I sold. I’m hoping that the trend continues until the end of the month, when I will have the cash to buy back in. I have about equal holdings in gold, silver, & lead. I do warn everyone to buy from reputable dealers …unless they are good at identifying counterfit goods. There is a lot of counterfit gold & silver out there now. I was also told by my dealer here in Houston that another dealer’s home was hit a while back….& while the thugs did not kill anyone…it was not pretty. I guess the moral of the story is to keep your metals prepping on the
QT & cover your tracks as well as you can. If the dealer wants an address…..I use my office address in Houston. That way if the records are ever compromised , the trail will not lead to my door.
I might be a little heavy on the lead….but it will be good barter material if it comes to that .
Montgomery County Texas
I call BS on this article from Future Money Trends. Aren’t these the same guys who predicted hyper inflation by last summer? How did that work out for you?
First, there is not now, nor will there be a shortage of silver; on the contrary, lots of silver mine production coming online next year.
Second, silver is not a precious metal. It is an industrial metal. Don’t be fooled by the fools that want YOU to be the bigger fool buying silver after they are already in. Just another rendition of the “Bigger Fool Theory”.
Wealth doesn’t flee to silver, thus demand and price does not rise during stunted economic times, except from those with limited funds, which is one reason, (and only one reason) that silver has not followed the historical ratio to gold.
Third, by 2015 global demand for silver will be met by those new silver mines coming online AND the tremendous quantities of silver which are produced as a by product of copper production.
Speculate in silver. Invest in gold. Horde your lead. They won’t be making anymore lead after the Changes.
I call BS on Future Money Trends.
I appreciate your post and your point about conflict of interest is well taken. However, you don’t really support your theses above. You don’t need to go into heavy detail, but what mines, and where? At what cost? AG has always been a precious metal, as even a cursory read of the Old Testament will show all the way up through its use in coinage in modern times. Really it is a hybrid industrial/precious metal, thus perhaps having room for upside on two accounts. Also, re. the globalists, perhaps it will be that they can’t control price – already we have seen the shorts take it on the chin with AG going from %5 a decade ago to $30 now. JP Morgan may think they are “masters of the universe,” but the reality is that there is One, and only One true Master of the Universe (whose birthday we celebrate soon)l
My wealth, and the wealth of many others indeed HAS fled to silver (ever heard of Eric Sprott, for example?)
I appreciate you posting, but your comments need more support.
J; Yeah I have heard of Sprott and I have heard him PUMP silver. He has a HUGE interest in pushing silver to the masses, doesn’t he?
Guess you didn’t bother to read the additional comments I posted below before responding to the first one.
If you are the author of that article, what you said was true, you just left out the most important parts of the “rest of the story”.
However you are wrong. Silver is NOT a precious metal.
There are 6 precious metals. Precious metals have specific physical and chemical attributes. If you do not understand that you do not understand metals. Period.
Most silver is produced by copper mines. When the demand for copper drops during recessions the production of silver drops.
BTW, silver production is falling because copper production is falling.
If there is a lower demand for copper, the mines slow down, silver production falls. Silver supply is a function of world GDP.
When industrial production increases copper production will increase, increasing the supply of silver.
There is a place for silver in your portfolio and in your preps; just don’t believe for a New York minute that your name is “Hunt” and you are the new Silver King.
Silver will NOT skyrocket. Silver is a industrial metal used in the industries of the Globalists, UR, and GB’s.
Do you think they want to increase the cost of raw materials and thus their products when consumer income is in decline?
Whoever gave me the thumbs down step up and make your case to support your view, if you can.
There is NO shortage of silver. There will be NO shortage of silver. Silver will NOT skyrocket.
If all of the silver mines producing silver and all of the copper mines producing silver as a by product, ceased operations on Christmas Day, there is enough silver above ground to absorb current demand until next THANKSGIVING for God’s sake!
If you want to find a PRECIOUS METAL in short supply and low reserves above ground, buy Palladium.
Its price may double by 2015 as Russia has released the last of its reserves.
Again, thanks Durango, but please give more detail. Having enough silver to last almost a year is not going to give industry the warm and fuzzies. No, it’s not critical, but if I am a heavy silver user, that just might make me want to start edging to the door.
Interesting note on palladium, tho!
J: I think a year supply of anything is plenty of lead time for any industrial user; and it is certainly enough time for the mines to crank up the second and third shifts to meet demand.
Lots of silver available. Lots of silver coming on line next year, check the juniors. Lots of idle capacity waiting for demand.
Sprott is pushing for more demand and so are you. Pump it all you want. I have no shortage of silver either. The higher the price the bigger my bottom line. 🙂
Speculate with silver. Invest in gold. Hoard your lead.
By any common sense look at the actual numbers provided by industry groups, silver reserves are going down rapidly, year to year. At the same time, new uses are being found for silver each day. I don’t know of any other way that these industry facts can be looked at. To me,when the market manipulation is stopped, silver will skyrocket. But at the present time, the controlers, ala JP Morgan, can take the price to zero if they want. This will eventually end badly for them.
I think your assumption will be proven wrong soon enough. The current undervaluation of the real price of silver is a gift for investors. Buy it while you can.
By the way, I checked the web site of a well known internet seller, just to see what was in stock for sale. Most silver products were out of stock, awaiting delivery. And you don’t think the price will skyrocket sooner or later???
Greaseman: While I value silver and recognize that EXCESS global reserves have dropped considerably, I also know that:
1. Other metal compounds and other technologies are being developed to replace silver in industrial processes, while new uses are being discovered.
2. There is significant new silver mine production coming on line next year. Check the juniors.
3. There is tremendous unused capacity via existing copper mines sitting idle while a one year supply of global silver demand at current absorption rates, is above ground.
If demand increases, production will increase. If production increases to meet demand, prices will drop from increased supply. Traders and manipulators will profit. Preppers are long term holders.
4. I own a considerable amount of silver (as a by product), so I would benefit from any increase in price. It would be to my benefit to encourage Preppers to buy large sums of silver. It would not be to their benefit.
5. Silver is useful for speculators, promoters, and traders who buy and sell continuously on movement up and down, making it marginally beneficial to Preppers who buy and hold.
6. Having said that, there is a place for silver in your portfolio and in yours preps; within reason. Don’t go crazy buying silver thinking that it is a source of wealth, or even a store of wealth. It isn’t. It is a medium of exchange and a speculators dream.
It is NOT a precious metal, it is an industrial metal, and the price will not skyrocket.
If it does skyrocket, it is only a spike manipulated for eventual profit taking, once the consumer is on board. WE saw that earlier this year. We’ll see it again.
Prior to a spike, promoters will pump the metal in the media and in the alt media AFTER they are all in at much lower prices.
Speculate in silver. Invest in gold. Hoard your lead.
most of Ya’ll will disagree with me here. i believe when shtf happens then precious metals are goin to have no value. simply because they have no use. i believe trade goods will be best. food candles matches lighter hygiene Ammo blankets. things people are goin to need. i understand you think post shtf they will be worth something but what if things get bad enough that it don’t turn around? i think trade goods will be priceless. any thoughts?
Of course you are right, in a utterly catastrophic situation. The issue is, if there is “just” hyperinflation, or even “regular” Jimmy Carter inflation. Then, silver will stand you in good stead. Moreover, IMHO, it will still have some residual value, even in a largely agrarian situation, just as it has for thousands of years. Silver and gold are referred to regularly in the Old Testament, for example. I suppose, like anything else, do some hedging – ammo, food, blankets as you say to start with, but precious metals (including a few oz of platinum, palladium, etc) are defintely advisable. Just make sure you take physical possession and aren’t left holding the bag when Obama’s cronies bankrupt the system and leave you with nothing
About your 300 lbs of silver and what to do with it. Check out the following article and make a phone call to the refineries that are listed. This article is from Casey Research. As good as it gets. Check it out.
I agree with you 100% “ks cowboy” I think we’re actually in a precious metals bubble right now.
Even that study that shows the mines won’t be able to supply the need, is based on the need being a growing quantity. Most of these studies assume at least moderate economic growth. But we know the economy, industry, is actually shrinking.
And industry changes too …. film photography used a lot of silver, but now everyone’s digital and that need is just about gone. People are not getting as many silver-amalgam fillings as they used to.
Heres an honest question ive been asking myself and im curious what others think…
If i wanted to start setting something aside for my child for college/whatever, and i have the choice of buying silver rounds, investing in a mutual fund/money market, or just setting aside hard currency. I keep believing silver is the way to go.
What would you members choose/chosen?
For long-term college, do all three.
Backstage at the candidates debate…
Newt- I’m gonna be the nominee. The rest of you should quit now. Who cares about my past? In the post-Clinton era, it doesn’t matter about your personal life.
Cain- You wanna bet?
Romney- Does my hair look okay?
Perry- Don’t distract me. I’m trying to study my notes…let’s see, department of commerce…department of…of…something…and department of…
Bachman- You guys better get ready for a butt-whipping tonight. It’s that time of the month for me.
Paul- The thing that saddens me the most is that none of you really have a clue about any of this, do you?
Romney- Does my hair look alright?
Santorum- If the moderator mispronounces my name again tonight, I swear, I’m going to punch him in the nose.
Perry- …department of nose punches…no, wait…department of commerce…department of…
Cain- I’m gonna slip out for a smoke. Can I get you guys anything? Soda? A pizza?…
Paul- I thought we’d talk about the issues, but you people seem to think this is just some new version of American Idol. Don’t you realize the challenges our country faces?
Romney- Newt, can I borrow your hairspray?
Ghost of Ronald Reagan- Whatever you all say tonight, please…PLEASE, just leave me out of it, okay?
When the shtf will of you precious metal holders be purchasing ammo/food/water/medical supplies with your new found wealth?..
Seems to me that those who already have spent years on a limited budget prepping will not be selling their precious commodities for metals…especially if the food chain/commerce is interrupted for any length of time.
We will already have our precious metals in the currencies of 22lr..223. 308 and so on..and the cheaper metals in tin cans..
No amount of silver or gold will fill an empty stomach when there is no food to sell..
The trick is to get your hands on physical silver. The ETFs are not necessarily guaranteed to have the physical supply behind it.
Silver will have value to those that have vast supplies of food (farmers).
Great article Mac.
Agree: Great article Mac. Enjoyed it too.
I’ve been dotting my i’s and crossing my t’s as best I can with the resources I have available.
On on going theme is that we can’t eat our PM’s. Food storage goes so far and can be looted.
So I’m curious. 1). Does SHTFplan already have an article on wild edibles? If so, can someone share the link.
2). I would like to see an article on wild edibles and foraging. See what books, youtube videos, etc. on the subject others like most. Who is actually doing some experimenting and getting familiar with this God given free for all resource? It would be nice to see others viewpoints on this topic to include the good, the bad, and the ugly.
Very cool topic. I have been researching wild edibles over the past year, and (lightly) integrating them into my family’s diet–a sprinkling of violets and plantain leaves on a salad, wild blackberry pie, paw paw custard pie, violet and dandelion leaves on a pizza, and–food of the gods!–morel mushrooms fried up in just a little bit of eggwhite, and served with a side of steamed nettles in the springtime. My kids won’t eat morels, but they sure enjoy foraging for them, while they snap up wild sorrell and refer to it as “candy” due to its lemon flavoring.
The biggest problem with foraged foods is, unless you can forage fruit, which will have a higher calorie content, most forage items are vegetable and just have a handful of calories. Something like Arrowhead (?) (Sagittarium?) tubers likely have a higher calorie content, but you have to wade into a lake and muck about for them in the late fall, and would probably waste more calories than you would reap.
It might be good for supplementing your beans and rice, and wild greens tend to have a lot of vitamin A and C in them, but it would be hard to live off of them exclusively.
Plus there is the whole issue of poisoning yourself: poke sallet shoots have 37 calories per cup and provide 278% and 363% RDA vitamins a and c respectively….but you can kill yourself (or your children, particularly) by eating it the wrong way.
On a similar topic, here is an article from Slate by Matt Yglesias (he’s kind of a tool) about the wonders and benefits of moving to a cashless society.
Money quote (ha ha): “Already, a movie character depicted as carrying a large quantity of cash can be reliably assumed to be doing something illegal….cash will be left with its rump use as a medium of exchange for drug dealers, tax evaders, and other shady operators and we can expect countries to start banning it altogether.”
The comments are particularly interesting; most see right through him and are fairly scandalized.
And since I’m posting links, here is a Salon article on Newt and his concern about TEOTWAWKI events. If i remember correctly, he wrote the forward to One Second After about the EMP threat.
Rest assured, a cashless society IS coming… period. I personally think it will be sooner rather than later.
It is coming, because thats part of the plan by the elites. But, that doesn’t mean there won’t be a massive black market that takes shape. Study any historical record you want, of societies who have ruled with an economic iron fist. The examples are endless, past and present. Black markets always flourish. It’s just a natural extention of a repressed people. And Americans are about to learn what a repressed economy is all about.
Maybe Future Money Trends should disclose how much silver they own; what their basis price is for it, and whether they have any option contracts open and at what price;
so that the eight fools that gave me a thumbs down over the facts about silver production, will understand how much they have enriched this guy by rushing out to buy more silver.
Speculate with silver, invest in gold, hoard your lead. They won’t be making anymore ammo after the SHTF.
Me? I’ll be using my silver to make bullets. Just saying … 🙂
Don’t let the thumbs bug ya!
It gets lonely ‘walking point’…
—YOU ARE ON THE RIGHT TRACK!—
Gunsmith: Thanks for the support. I was just amazed at the ignorance and commitment in the minds of a few people to believe in PROPAGANDA even after the facts are presented to them.
In this case about silver.
The video was well produced but spoke only about production in the US and Canada. It failed to disclose the global nature of the commodity and where production is strongest: namely Mexico and South America.
This video was tailored to produce fear in the minds of many that they would fail to get in on a rare opportunity, and to stimulate them to buy silver now!
That is why YOU will prosper & they will be left wondering….”what the hell happened to my plan-B?”
Stick to your guns DK, as the only ones you must answer to, is you & your family!
—So far, you’ve been 100% on the $$$ w/ your analysis—
Yep, you never know when you have to shoot a werewolf.
Folks, if you take this good advise TAKE **physical possession**. Period. Otherwise, you will be left standing when the music stops and there are no chairs.
Just ask the folks scammed at MF Global, run by Obama crony Jon Corzine.
Excellant advice J !!! Personally my posession of pm’s is gonna allow my family to live in the manner we’re accustomed too, ie. electricity,clean water,butterflies,and happy holidays.Bango and smitty can live in the bush,after they kill everything they can eat that left over lead and brass!
I got zero thumbs up and 4 thumbs down for my comment about the decreasing industrial need for silver but ….
I’m glad I sold the couple of Eagles I got in exchange for a couple of old multimeters, a few days ago. Silver’s down to $28 now which means I’d likely have gotten $25 each for the Eagles instead of $30.
Silver’s been floating along at $32 for the longest time, but now it seems headed downward…… just remember it’s speculation folks, take care of commonsense stuff first before shiney metal.
Chris Martenson makes some pretty good arguments for owning silver. I agree that big money invests in gold, but there is not enough of that to go around if we do go into a global economic depression. I know plenty of people that are investing in silver 100 times more than gold, simply because they can afford silver more than they can afford gold. I am talking physical ownership, not buying worthless paper metals. I would never own a paper investment, but that’s just a personal choice.
Once the futures market looses it’s credibility, once the EU crumbles under it’s debt load, you name the scenario, people with money to do so will turn to metals. Sure we need food, water, guns, ammo, land, seeds, you name it. But people will turn to metals as some place to store what wealth they have left. How many will be stepping up to buy gold at $2000 let alone $5000 or more. The first Peso I bought I looked at it, felt it’s weight and thought what the hell am I doing?
There are many more average Americans out there than the top .01% that are the big gold buyers. To say that Joe Sixpack will buy nothing because he can’t afford gold is a rather naive statement to make.
As Ann Barnhardt said in her interview this week, there is not enough metal in the crust of the earth to cover all of this debt.
I have invested in all forms of tangible assets, I even bought a couple barrels of scrap copper discs from a machine shop. I could see a scenario where that could become a barter item as well some day. You look at how people live in other countries that have already experienced hyperinflation. They barter gold nuggets they pan in the rivers, bits of gold and silver chains.
You hang onto ‘some’ of that silver jewelry Daisy, if we end up some day in a “Barter Town” kind of world, you might just need it. To think that could not happen to us here in America, well I pray those that make that claim are right, but I prepare for the possibility that it could.
I still think that silver will offer a greater long term return on your investment. It was used for currency before, it will be used for it once again.
You can get best prices for precious metals by going to http://www.goldshark.com I use usually Gainesvillecoin.com or APMEX.com without any problems.
Gold is a storage of wealth recognized worldwide for thousands of years, silver is the “poor mans gold” (and has never been confiscated by the US Govt)
I always buy the lowest premium gold(Mexican 50 Peso with 1.2057 oz gold and silver (90% junk silver, just bought some yesterday at 0 over spot)