Silver...

[elmacgyver0]

Does it cast well?

Lots of Werewolves out there.

[rancher1913]

most of those advertisers are selling "paper" gold and silver. if you want to see the price of real silver or gold, look on ebay or other auction places that deal in pm's

[Der Gebirgsjager]

I'm not sold either, what good does that precious metal do for you in a collapsed economy? Can't eat it, what are you going to make with it? How much did you pay for it to trade for a chicken? I think food, fuel, ammo ect. would be a better trade. All that said, I don't want to live through any Mad Max scenarios.

I've pondered your point for many years, and have concluded that owning a certain amount of precious metals is a wise thing. What that "certain amount" is kind of depends on how much you can invest and not miss during normal times.

If our paper money becomes worthless, and I do believe it will, and I believe that it will be completely phased out in favor of debit cards, the PMs will still work as a medium of exchange. Of course barter will be big, my box of ammo for your chicken, but there will still need to be a trusted thing of value that can be passed from hand to hand.

Exchanging value over a geographical distance is one example. Also, if you want something, but someone with that thing doesn't want what you have to offer (full up on chickens!) they may accept a PM coin to use to obtain something they want from someone who doesn't need any chickens or ammo.

So, I think there will always be a place for PM coins. What will prove difficult is getting people to agree on what any given size PM coin is actually worth compared to the value of what they want to buy or sell. Could very well be that, if the person who has something you want doesn't want a chicken or a box of ammo, they may agree to give you the item you desire for a coin, but what is the value of the coin? Just like now, there will always be sharpies trying to squeeze you.

I agree also with those who have said that all of one's prepping should not be in the area of PMs.

[dangitgriff]

most of those advertisers are selling "paper" gold and silver. if you want to see the price of real silver or gold, look on ebay or other auction places that deal in pm's

Or...bookmark this website:

https://www.kitco.com/

[rancher1913]

not really, that has the current spot price which is mostly "paper" pm's being traded, just try and buy a silver american eagle for that price, last I looked even the big boys wanted about 40 bucks for a known silver 1oz coin, and fleabay is even higher.

[bangerjim]

I am glad to see my 10 troy pounds of OLD SILVER half dollars is finally on the rise. And in a SHTF situation, they are still easily spendable for 50¢ each! That is why I always avoid precious metal bullion in any form. Bought them 14+ years ago at the same I bought a bunch of St Guadens $20 gold pieces. Beautiful coins! And they are really going up also! Being in nearly un-circulated certified condition, they are definitely above spot price on the market.

Now is NOT the time to invest in gold and silver. If I had put all that bunch money in the stock market or Guaranteed Annuities, I would have made a lot more by now. But the advisors all say to have 10% or so of your nest egg in precious metals. Not close yet, and probably never will be, at these high prices.

But I can't complain. It is sure fun to hold $45K worth of gold in my hands when I go to my bank box!

banger

[Piedmont]

The currency has been going to collapse since the 1970s when I was a teenager. We were going to run out of energy too in the seventies if you "grownups don't stop wasting so much" as a kid in a TV ad said. I think that was an ad for turning down thermostats in the Jimmy Carter era. There are doomsayers in every generation and this is nothing new. In no time in my life would you have needed silver or gold or would it have been a benefit to you to hold it.

In the 1980s AIDS was going to wipe out much of the world's population. In the 1990s we were losing all the rainforests and it was a crisis. Then "the Earth has a feeever" Al Gore had a new crisis and you had to buy special lightbulbs and pay carbon taxes and make him rich or we were all in big trouble. Now Covid 19 is going to wipe out half of Brazil's population a neighbor told me a few weeks back after watching the TV news

Don't listen to alarmists. Most are trying to sell you something. Most of the rest really don't know much.

[Mohawk Daddy]

This is a message for Uncle Sam:
Dialogue from an old Ernest Hemingway story:
"How did you go broke?"
"Two ways. Slowly at first. Then all at once."

[Ed K]

Silver is up.
It's been really climbing the last three weeks
It hit $30 yesterday, but closed at $28

Why do you suppose it's up so high?

How about: Why do you suppose it's only worth half of what it was 9 years ago?

[dangitgriff]

not really, that has the current spot price which is mostly "paper" pm's being traded, just try and buy a silver american eagle for that price, last I looked even the big boys wanted about 40 bucks for a known silver 1oz coin, and fleabay is even higher.

No, really.
The price is for the physical commodity. The difference between that and your local PM vendor’s spot is due to markup for that vendor in that locale. The COMEX spot price should always be used as a benchmark to judge where the best deals are in your area... and to keep the local dealers somewhat honest.
R/Griff

[Eddie Southgate]

Got money to invest spend it on powder, lead, primers , brass , jacketed bullets . Also good will be cheap but good magazine loading .22 autos and ammo to feed them . Gold and silver are good when people got money to buy them in normal times but when everything goes down the tubes they won't likely feed you . Bad times I can probably trade a $119.00 Rossi and a couple of boxes of .22lr for a cow .

[rancher1913]

ok, I'll play, go to that site and try and buy a 1 oz silver eagle at spot. best I could find was a generic round that they wanted over 40 bucks for. silver doctors has american eagles and they want close to 50 bucks for them. the spot price is determined by buying and selling large quantities, mostly paper silver or paper gold, the market has been rigged by paper products for years and is just now starting to break away.

[farmbif]

I guess its like any other investable thing, there are a few thousand people on the planet that have so much they can make the markets move if they want, for the rest of us we can only guess what will happen to future prices of investables. but if silver goes to $100 oz and gold to $5000 an oz now would be a good time to invest but its only speculation of what might happen. I remember my grandfather telling me about the depression and they would sell 2 dozen ears of corn and 2 dressed chickens for a dollar but there was hardly anybody that had a dollar, during that time things were so tough the family lost about 1/2 of the 1000 acre farm to the county because they didn't have the cash to pay the taxes.
unfortunately mismanagement of our country has caused the dollar to lose about 10 percent of its value on the global market in just the past 6 months. the national debt is spiraling out of control and tax cuts will leave social security funds lacking.,
If you have invested in silver or gold your ahead of the game with those prices heading straight up.

[dangitgriff]

The currency has been going to collapse since the 1970s when I was a teenager. We were going to run out of energy too in the seventies if you "grownups don't stop wasting so much" as a kid in a TV ad said. I think that was an ad for turning down thermostats in the Jimmy Carter era. There are doomsayers in every generation and this is nothing new. In no time in my life would you have needed silver or gold or would it have been a benefit to you to hold it.

In the 1980s AIDS was going to wipe out much of the world's population. In the 1990s we were losing all the rainforests and it was a crisis. Then "the Earth has a feeever" Al Gore had a new crisis and you had to buy special lightbulbs and pay carbon taxes and make him rich or we were all in big trouble. Now Covid 19 is going to wipe out half of Brazil's population a neighbor told me a few weeks back after watching the TV news

Don't listen to alarmists. Most are trying to sell you something. Most of the rest really don't know much.

During my 50-year lifetime the United States government has run out of road to kick the can down. Considering Nixon closed the gold window in August, 1971 and effectively removed the last meaningful restraint of sound fiscal policy, I’m surprised they made it this far. A cursory search online will lead one to some very informative charts on our public debt and future liabilities, which are in excess of 200 trillion dollars.
The astute comments regarding inflationary monetary policy and the resultant loss of purchasing power for every American are absolutely correct. Our government, in concert with the Federal Reserve’s profligate, legalized counterfeiting of our currency, has effectively robbed wealth from us all, along with future generations of Americans.
Gold and silver act as a store of our remaining wealth. It should form a part of your savings in conjunction with other means of achieving the same ends. Also consider that 10 ounces of gold bullion now packs more than $20,000 worth of savings into the dimensions of a zippo lighter, making it highly portable in the event you need to skedaddle to a safer location.
R/Griff

[farmbif]

if you want to buy pieces of silver or gold there is a place called Gainesville coins in lutz Florida that sells gold and silver cast or stamped in many different forms for about as close to market price as anywhere else. I watched my stepfather spend quite a bit on futures and other gold and silver scams but the actual pieces of metal from those folks was the real deal. hopefully they are still a stand up outfit as they were

[dangitgriff]

ok, I'll play, go to that site and try and buy a 1 oz silver eagle at spot. best I could find was a generic round that they wanted over 40 bucks for. silver doctors has american eagles and they want close to 50 bucks for them. the spot price is determined by buying and selling large quantities, mostly paper silver or paper gold, the market has been rigged by paper products for years and is just now starting to break away.

You are correct about the paper market. The paper contracts for gold far exceed the available supply and many paper speculators will be losing a lot of money very soon.
The original ratio of silver to gold was set at 14 to 1. Though I don’t believe it will return to those levels, it could reasonably be expected to reach 40 or 50 to one before this depression is turned around.
For comparison, the current ratio is about 73:1. At 50:1 silver would be $40/oz., and 40:1 would see silver at $50/oz., and double that if gold goes to $4,000/oz., which is entirely within the realm of possibilities given our current crisis.
R/Griff

https://youtu.be/48IL8wgX1kU

[dangitgriff]

if you want to buy pieces of silver or gold there is a place called Gainesville coins in lutz Florida that sells gold and silver cast or stamped in many different forms for about as close to market price as anywhere else. I watched my stepfather spend quite a bit on futures and other gold and silver scams but the actual pieces of metal from those folks was the real deal. hopefully they are still a stand up outfit as they were

They are probably experiencing high demand that is delaying their shipments to customers. That happened in 2018, too...according to a guy I work with that bought a pound.

[Ozark mike]

Jus another rock outta the ground for me could care less

[GhostHawk]

5 years ago I owed no one anything. Stores of all vitals were recently topped off.

Lead, powder, primers were all more than suffician to my needs.

So I invested a chunk in silver. I could double my money right now. But I do not think it is done going up.
So why sell?

I don't need it. It is moving in the right direction. Let it roll.

I do not have a huge pile like some of those East Coast robber barons do.
But I have simple tastes and needs. Don't need a huge pile.

If Silver goes to 100 I would have a roughly 8 fold increase. Still not all that much in the big scheme of things.

Still it is nice to have eggs in many baskets.

[Bang Switch]

Silver is not high enough, yet.

If you use the old 20 to 1 ratio, gold worth 20$ per oz. or double eagle, then silver should be worth 100$ per oz. or one once coin.
I think it is under valued right now because it so plentiful and the demand for it is low.
Silver should be trading at or near 100$.