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 Replies: 62 / Views: 9,369 |
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Pillar of the Community
United States
606 Posts |
I consider silver a commodity.
I don't know anywhere that uses it as a medium of exchange, so no longer consider it money.
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Valued Member
United States
311 Posts |
MontanaCMR - refer to @Fistfulladirt; it's not used as a currency... YET... I'm of the mind our paper won't be worth more than the stuff we wipe out hind ends with in the near future... In fact that stuff might be worth more soon... So my stockpile of silver is for that day... Or to be found by my great grand kids and named "The Weber Hoard" and then PCGS will make me special labels with that name on it soon ;)
Edited by cjweber
01/31/2016 6:52 pm
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Pillar of the Community
 United States
3789 Posts |
The USD is never going to collapse. if that happens then the entire world financial systems go down the toliet. So no, silver and gold are not money nor will they ever again replace money.
Finally, if the government so wishes, they could turn around and confiscate gold and silver. They did it in the past. So *poof" there goes hoarding gold and silver :)
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Bedrock of the Community
United States
10982 Posts |
Within 30 years we'll either default on our debt, devalue our currency, or both. Medicare, Medicaid, Obamacare insure (no pun intended) that fact. All currencies eventually go to zero. There are no exceptions and while most of won't live to see the USD collapse, it will happen. One world currency might be 50 years away though.
By the way, silver has never been confiscated in the U.S. nor has numismatic gold...And where's the answer to jasper62's "instant profit investment" question?...Yeah I've got about 2% of my net worth in silver at an average of maybe $16/oz. I'm not too worried about it. It's fun to buy, sell, trade and part of the hobby to me. It's not that big a deal one way or another.
This isn't the Wall Street Forum where somebody might lay out $10 million on silver hoping to make a million next month. It's a family coin forum.
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Bedrock of the Community
 United States
12819 Posts |
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It's fun to buy, sell, trade and part of the hobby to me. It's not that big a deal one way or another. Exactly. I'm not dumping my life savings into silver, just a few oz / month for the fun of it. |
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New Member
United States
11 Posts |
...Same here. A few oz a month. No harm done. Then when silver reaches its true value of $500/oz it's all gravy  |
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Pillar of the Community
United States
4333 Posts |
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Then when silver reaches its true value of $500/oz it's all gravy Be careful what you wish for. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Valued Member
United States
311 Posts |
I'll wish for that... I picked up another six today... If it gets to $500/oz we are in for some big life altering changes!!
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Bedrock of the Community
United States
12819 Posts |
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If it gets to $500/oz we are in for some big life altering changes!! You can say that again. If it goes there in our lifetimes I think we'll all wish it hadn't. Think Mad Max with silver being the gas. |
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Valued Member
Canada
343 Posts |
Just went through this thread and thought I'd put my 2 cents in from a Canadian perspective. Yes, I bought a good amount of silver when prices were higher that they are now. It was a decision made at the time - can't take it back. Over time I've been buying more conservatively and under melt whenever I can (auctions) - so, dollar cost averaging down.
I understand the points being made about not doing this, however, it should also be noted that as our Canadian dollar has lost about 30% of its' value over the course of the last two years the percentage of my net worth in PM's has held its own. 20/20 hindsight lets me know that buying US dollars would have been a better investment . . .
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Valued Member
United States
311 Posts |
Aghawk- Just my humble opinion but I don't think buying into any country's currency is a grand investment idea... I understand those that do and I get why they do it, but even the USD is getting weaker, granted not as quickly as the Euro but still... I think PMs are the way to go to ensure whatever you are holding onto has value even if a currency fails and is replaced. An ounce of silver or gold or platinum or palladium will always translate into whatever take the place of the dollar/euro... And some people will argue that our monetary system is no longer based on such things and I will tell you that is the exact reason why you should be holding onto silver! A dollar backed by wishes and fairies will not last long at all.
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Pillar of the Community
United States
3789 Posts |
again my point is that buying silver and gold or ANY asset, in a downtrend, is a waste of good money until it proves otherwise.
I mean if buying in a downtrend is great, then I suppose those who buy in a downtrend would have loved to buy Enron, MCI, Lehman brothers,, I can go on and on and on and on.
Like I said, I like silver and gold as much as the next guy. I have some elephant coins I Want to put into my collection, kilos, gold, rolls, etc. But I wont do it personally and see it as a waste until there is clarity.
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Valued Member
Canada
343 Posts |
cjweber - My comment about buying US dollars was only meant as an example of 20/20 hindsight proving to be a benefit. I did buy a small amount of US dollars as we occasionally make trips south of the border. Although I knew the Canadian dollar was going down I had no idea it was going to go to 70. I bought at about 88 thinking it would go to 79 . . .
In terms of having something to invest in (even if it is in a downtrend), PM's seem to have a lot more enjoyment and "feel" to be a better investment than currency in another countries system.
And yup - I do not disagree with your philosophy overall, it is something easier to say than to do successfully. We do not have crystal balls and if there is a currency "reset" or breakdown of the system as we know it then we may loose the ability to purchase those assets we feel will be going up. It may be the PM's we have now (even though they are in a downtrend) may be the only ones we have access to in the future.
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Pillar of the Community
United States
2189 Posts |
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The USD is never going to collapse. Nothing and I mean nothing will last forever, It will collapse one day. Not in my life time or my daughters life but one day it will fall and to think other wise is foolishness. Quote:
Finally, if the government so wishes, they could turn around and confiscate gold and silver. They did it in the past. So *poof" there goes hoarding gold and silver :)
When did the government confiscate silver? |
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Pillar of the Community
Australia
7096 Posts |
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I been buying an ounce every paycheck for years. Will continue to do so. If I'm gone, the wife knows where it is :-)
Bottom line, never put all your eggs in one basket. Diversify over the long term.
The tortoise always wins. The way PM prices have been behaving as of late the "tortoise" is looking pretty good in this race  |
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Replies: 62 / Views: 9,369 |
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Posted 01/31/2016 6:50 pm
