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 Replies: 5,649 / Views: 461,191 |
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Pillar of the Community
United States
1804 Posts |
Quote:
IMO it's worth having some bullion around, though not over 2-3% of total savings. Sounds like good advice to me. NOTE: In about 1980 Silver hit $50, then quickly fell into a free fall. Thanks to the HUNT bro. Point being AG was never worth $50 |
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Pillar of the Community
Canada
849 Posts |
Something is worth what another is willing to pay.
So of course silver was once worth $50 because people were willing to pay it.
They just were not willing to pay that amount for very long so its worth soon diminished.
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Valued Member
Canada
128 Posts |
I have followed this thread for a few years and have really enjoyed it.
I am going to purchase some pm's as I have mainly cash and very little hard assets. Surprisingly in Canadian dollars or dollaretes as Mr. Wonderful calls them the price has remained very stable for a couple of years now.Don't believe Canada's or U.S. debt will ever be paid and money will either devalue or Govts. will walk away from obligations.I want to hit at least 3% and am looking to add to either Pandas Leafs or Buffalos, I have bought all of these before ,but am wondering if in the future if China keeps growing if Pandas might be a slightly better investment.
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Pillar of the Community
United States
1804 Posts |
sbr Quote:
I have followed this thread for a few years and have really enjoyed it.
I am going to purchase some pm's as I have mainly cash and very little hard assets. Surprisingly in Canadian dollars or dollaretes as Mr. Wonderful calls them the price has remained very stable for a couple of years now.Don't believe Canada's or U.S. debt will ever be paid and money will either devalue or Govts. will walk away from obligations.I want to hit at least 3% and am looking to add to either Pandas Leafs or Buffalos, I have bought all of these before ,but am wondering if in the future if China keeps growing if Pandas might be a slightly better investment. Be careful WHERE you store the PM 82 years ago our beloved "ROSSY" froze bank safety boxes. And made it illegal to own AU bullion. And told all to turn it in. Does that mean all the AU coins minted before 1933 are "illegal? Thank heavens my Peace and Morgans are free of any historic loss of legality. |
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Pillar of the Community
United States
3349 Posts |
I see your point @domain, and that's probably why my dad kept all his bullion hidden in his basement. There are problems with this, too. You need to tell someone where you hid them. I THINK we found all of them, along with the paper stock certificates, but only knew where they were because he told my sister and I five years ago. A slip of paper with a map left in a drawer is not enough, believe me. Second, there's the danger from natural catastrophes like floods and fires.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
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Valued Member
Australia
491 Posts |
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Pillar of the Community
United States
4333 Posts |
After the 1933 Executive order, citizens were still allowed to hold up to $100 face in gold coin. Also, numismatic collections were exempt. How many people even had $100 period?
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
1804 Posts |
fistfull of dirt Quote:
Executive order: By virtue of the
authority vested in me by Section 5(B) of
The Act of Oct. 6,
1917, as amended by section 2 of
the Act of March 9, 1933, in which
Congress declared that
a serious emergency exists, I as
President, do declare that the national
emergency still exists;
That the continued private hoarding
of gold and silver by subjects of the United
States poses a
grave threat to the peace, equal
justice, and well-being of the United
States; and that appropriate
measures must be taken immediately
to protect the interests of our people.
"Therefore, pursuant to the above
authority, I herby proclaim that such gold
and silver holdings
are prohibited, and that all such
coin, bullion or other possessions of gold
and silver be tendered within fourteen days
to agents of the Government of the United
States for compensation at the
official price, in the legal tender of
the Government. All safe deposit boxes in
banks or financial
institutions have been sealed,
pending action in the due course of the
law. All sales or purchases
or movements of such gold and
silver within the borders of the United
States and its territories,
and all foreign exchange
transactions or movements of such metals
across the border are herby prohibited.
"Your possession of these
proscribed metals and/or your maintenance
of a safe-deposit box to
store them is known to the
Government from bank and insurance
records. Therefore, be advised
that your vault box must remain
sealed, and may only be opened in the
presence of an agent of
The Internal Revenue Service.
"By lawful Order given this day,
the President of the United States." Rough -- Tough -- Heavy Handed -- Ruthless. Quote Bonnie and Clyde We Rob Banks |
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Pillar of the Community
United States
1804 Posts |
Quote:
After the 1933 Executive order, citizens were still allowed to hold up to $100 face in gold coin. Also, numismatic collections were exempt. How many people even had $100 period? Are you saying it is not nice to take from the poor? Respectfully I disagree about the numismatic collections being EXEMPT. Any plow boy could drive his wagon through that loop hole.  |
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Pillar of the Community
United States
4333 Posts |
http://www.presidency.ucsb.edu/ws/i...hp?pid=14611Section 2. All persons are hereby required to deliver on or before May 1, 1933, to a Federal Reserve Bank or a branch or agency thereof or to any member bank of the Federal Reserve System all gold coin, gold bullion and gold certificates now owned by them or coming into their ownership on or before April 28, 1933, except the following: (b) Gold coin and gold certificates in an amount not exceeding in the aggregate $100 belonging to any one person; and gold coins having a recognized special value to collectors of rare and unusual coins. Quote:
Any plow boy could drive his wagon through that loop hole. @Domain555, I have to agree. I think many people did make it through that loophole, that's why there is so much old common numismatic gold today.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
1804 Posts |
@fistfullofdirt Quote:
@Domain555, I have to agree. I think many people did make it through that loophole, that's why there is so much old common numismatic gold today. IMO, the folks back in Rossies days, most (many) knew it was or suspected it was a way to cheat the population of their hard earned wealth. The centuries old saying was: BAD money drives GOOD money out of circulation. For today, having on hand 2-3% in Silver may not be a bad idea. |
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Valued Member
Australia
491 Posts |
Fresh yearly lows for the last day of the year. It's the 31st here.
And the AU$ is holding above US$.72 with silver in a downward movement which is a big turn around.
Here's hoping for the year 2016 and the aussie $.
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Pillar of the Community
 United States
3789 Posts |
@kg5
I too am waiting patiently to get a kilo elephant but not until either the downtrend is over whether that means prices finally go higher and stay high OR a floor forms and prices just chop around but no not make fresh yearly lows nor test the lower end of the range.
The aussie dollar has looked constructive of the past few months. It remains in a downtrend but in terms of price as it stands now, the Aussie dollar, in the past several months has put in a series of lower highs each time instead of lower lows. That is constructive in attempting to stem lower prices.
The key number on the Aussie dollar is to see if it can break out above approximately 74 cents.
Finally, it is interesting to note the difference between the canadian dollar and aussie dollar. Both are commodity currencies but the Aussie has been acting better than the canadian dollar.
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Pillar of the Community
United States
1804 Posts |
Good heavens CCFers I had no idea the C D had gone this low Buying PMs must be next to impossible in Canadian dollars yikes.  |
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Pillar of the Community
Canada
849 Posts |
Yeah - as a Canadian I don't want to buy a bunch of silver and gold right now. It seems like three years ago the U.S. - Canadian dollars were at par with each other. Now my $1000 Canadian will only buy $700 U.S. The Canadian dollar has really fallen in three years. Especially the last 18 months.
I don't want to buy bullion now because, even if gold/silver stay about the same for the next year, if the Canadian dollar gains back 10% of its value, I am out 10%. Of course the other possibility is that the Canadian dollar falls further in 2016. I don't even want to think about that. Food imported from U.S. (especially fresh products we cannot grow in winter) are starting to rise a bunch.
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Posted 12/24/2015 09:54 am
