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 Replies: 51 / Views: 8,372 |
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New Member
 United States
30 Posts |
I disagree. I still have not gotten a response to my earlier post asking what the value of a dime was both before and after October 1929. Even in just a barter situation, silver that is recognizable as real money ( Roosevelt dimes & Liberty quarters) will still be worth a tank of gas or a loaf of bread. |
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Pillar of the Community
United States
4333 Posts |
Quote: disagree. I still have not gotten a response to my earlier post asking what the value of a dime was both before and after October 1929. Even in just a barter situation, silver that is recognizable as real money ( Roosevelt dimes & Liberty quarters) will still be worth a tank of gas or a loaf of bread. We've never been in that situation before. Very, very few know the value of silver. Very, very few recognize the value of silver currently. They value plastic, it's all they know. Food, ammo and shelter are more valuable than PM's if SHTF. When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
4333 Posts |
Silver was once money. It is no longer.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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New Member
United States
30 Posts |
I just emptied the silver tubes out of my safety deposit box after checking my account balances & transferring some money to both our joint account & to pay down my cash rewards card. I just bought an NGC MS64 $2.50 Liberty quarter eagle from Monument Metals using e-check. While their web site shows the slabbed coin with RANDOM YEAR, I asked that they send me a picture of the actual coin being sent in case I want to list it on ebay or elsewhere. I can take very nice photos with my Samsung tablet but it's nice to have a backup image. I looked at the chart of silver prices from 1915 to near the present & a did not see any positive trends that would instill confidence. I am thinking about liquidating my silver Roosevelt dimes & Washington quarters & converting the proceeds into gold. A lot of people collect silver so it should be an easy transition. I already have some $20K worth of vintage U.S. gold, almost all S mint mark but I also have a $10 with an O. Gold is up over $8/ounce mid-day. Edited by JacksinPA
10/16/2019 12:52 pm
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Pillar of the Community
United States
7276 Posts |
Gold isn't as speculative as silver because of cost per gram but it's still a speculative metal. Gold also has less uses than silver so it's value is more based on rarity and ancient use. In the end you would do better long term hoarding low cost mutual funds.
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New Member
United States
30 Posts |
I don't trust paper. I also don't trust companies who offer to store your physical wealth for you. The SHTF & getting your value from either becomes problematical.
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Pillar of the Community
United States
7276 Posts |
So explain to me, you buy coins with paper. You exchanged FIAT currency for physical storage. Now you want to sell that physical storage for gold? Are you going to exchange silver for gold or you using an intermediary device like usd? In either case you are using paper. In the mean time you purchased these assets using money in some form, you also paid for storage and you'll have an expense in selling the asset and I know no one that will give spot for Junk Silver. Basically unless the cost of silver went up a few dollars (most likely not) this was a loose for you. If you really want to invest in your future low cost funds make better sense and you can get cash in about 2-3 days and with $20k you can get a fund started. With your excess cash you can do well long term. Just don't ask when the market tanks. Long term hold. Just my opinion.
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New Member
United States
30 Posts |
Long-term hold cost me $150K in 2001 in the dot.com bubble. When Corning Glass & semiconductor stocks started to drop, I followed the long-term hold strategy & lost half of what I had before I could get out. CG went from $300 to $3 in 2 weeks. Still now in a nice annuity that pays me 6%, which beats inflation. Wife had considerable holdings so we live well.
Don't believe the Government inflation numbers. A visit to any food store will show you that. Homes like mine in my neighborhood have been appreciating at 5% based on comp sales of the same style houses.
I still believe that silver is a good hedge against inflation. The problem is, who to sell it to? If the economy is in ruins, why would have the interest or the means?
Edited by JacksinPA
10/16/2019 3:40 pm
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Pillar of the Community
United States
7276 Posts |
I said low cost index funds. One should never put all there nest egg in 2 stocks. I have 2 shares of Prudential from when I worked there. I transferred everything to low cost index funds and have lost value in 7 out of 44 quarters in the last time I did a check of my finances. I average 8-9% returns every year for the 11 years I kept track. In 13 years I have 4X the amount. Don't sell when the market tanks, diversify and hold for the long term.
As to inflation the government numbers are correct but you need to take into consideration that they include a lot of items and many like hard goods you don't buy annually. A tv costs less now than 20 years ago, same with computers and a lot of other items. Food has skyrocketed as has housing for the last 7 years.
Edited by hfjacinto
10/16/2019 4:01 pm
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New Member
37 Posts |
Yea I don't understand why you got out especially semiconductors, if you left it in, it probably has exploded in value since then, pretty typical of a panic move
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Pillar of the Community
United States
987 Posts |
JacksinPA I have read your comments with interest as well as the responses. I am very limited financially, but I own silver as well as stock. Years of reading has led me to believe both are good to hold.
Good luck!
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Pillar of the Community
Canada
3692 Posts |
Quote:
Dumb question: I am amassing a lot of silver but the point that I've found little discussion on is what to do in the hope that the SHTF. This country has gone through periodic depressions, the most recent being in 1929. I lost a lot of money in the dot.com stock market bubble in 2001 & with the market at all time highs & a loose cannon running the country I have to agree with the numerous sources that are predicting an economic collapse at any time. So what do I do other than wait to see what develops? Just be content with having a very heavy investment? If STHF, what are you doing with piddily little dimes? Nobody is going to want that. Remember that in emergencies FOOD and WATER are the number one priorities, not metals. For me, personally, my bullion is a pure commodity and I transform it into other shapes if I need to, so I'm not sitting on an investment but on raw material. If you're so worried about SHTF then forget about silver; start stacking canned food and water containers. Now, say that you had all of that food stashed away for an emergency: are you actually going to start trading your food source for silver dimes? C'mon now, that's silly. Quote: I still have not gotten a response to my earlier post asking what the value of a dime was both before and after October 1929. Even in just a barter situation, silver that is recognizable as real money ( Roosevelt dimes & Liberty quarters) will still be worth a tank of gas or a loaf of bread. Well if that's the case, are you forgetting that silver was still in circulation at that point? And what happened a few years later? Gold was pulled out of circulation. To rehash an old talking point: what kid is going to know the difference between a silver coin and clad coin? The debased coin usurped the silver generations ago using the same coin design. Edited by Libertad
10/22/2019 08:05 am
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New Member
United States
30 Posts |
I completed my stack & squirreled it away with my wife's help: 72 dime rolls & 12 quarter rolls. I get an estimate of value at $6,275. Weight about 32 pounds of 90% silver. It was fun putting it together but now on to Carson City $10 gold coins made from Comstock Lode gold.
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New Member
37 Posts |
Rather have pallets of Jack Daniels than $10 gold pieces
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Pillar of the Community
United States
4333 Posts |
Quote:
Rather have pallets of Jack Daniels than $10 gold pieces I'd rather have both! When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Replies: 51 / Views: 8,372 |
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Posted 10/15/2019 7:05 pm
