I remember Silver Thursday quiet well, lol.

Silver and gold are not investments and the only people that make money with them are the dealers selling it. I've been hording silver since it was in circulation in the 1960's. When it make a bump up I sell some, but I buy very little. Now I just buy dividend paying stocks. For you silver guys look at this chart and tell me how anyone can make money with silver. Buying low and selling high is not easy to do.


Range Change Change %

Today +0.14 +0.84%
7 Days +0.72 +4.42%
30 Days +1.68 +11.00%
6 Months +1.18 +7.48%
1 Year +1.49 +9.63%
5 Years -3.09 -15.45%
10 years +2.62 +18.34%

The worst thing a guy that doesn't know how the market works and takes a position and by chance makes a quick profit, then he is hooked. If he doesn't know how he did it or even if he does then the psychological part of gambling, especially for a person who has always worked for money, kicks in and all the problems with gambling can come to play.

I don't look at silver coins or bullion as an investment tool, but rather, a safer means of saving then currency in a back savings account. ( A means of barter, should the economy fail. Not to buy and sell as one would do in the stock market. )

Yes, I have the same thought pattern. There will be many that will say a melt down won't happen or if it does things will be so bad your planning won't help. To expand your way of thinking, I can remember when we had an ice storm and was out of electricity for 4 days. Town was down for a couple days. Cash registers don't work with out electric nor does gas pumps. If you have a generator it won't work without gas nor will your truck. Here we live on the New Madrid fault so you see we could have a few days of a lot of inconvenience if not prepared a least to a degree. Not even considering terrorist acts. Even a snow storm ain't fun when you have food and no toilet paper, lol. A guy needs to be self functional for at least a few days, unless you think the gov will save you. That might include cash, food, water, gas, antibiotics any other personal medicines, and etc. And if you are in the country the gov services will center on the city masses first. Hospitals, post office, court house, etc. all come first.

That might be, however I'll bet if such a time ever arrived you would have a much better chance trading a pickup full of gold for a pickup full of firewood than you would have trading a pickup load of cash for a pickup load of firewood.

PRE- 1964 SILVER COINS is always good to have

I remember seeing a news cast in some country where the inflation was so bad they were burning their paper money to stay warm. Also I saw a news cast in a Russian war torn city, where it was freezing cold and snow. Some old man with all the clothes on he could find had a little hatchet and was chopping wood chips out of the ground from a tree that was long gone. News caster said he was trying to get enough chips to boil water for some tea.

Those images have stuck in my mind for years and I hope nothing like that ever happens here. But if it was to I'm afraid an awfully lot of complainers and protesters won't make it.

Precious metals are a terrible investment if you’re looking to see returns. That said, I buy some silver boullion sometimes. I just like having it to be honest. I tell my kids it’s my “pirate money” lol

I've hung on to almost all the silver and gold I've found with my metal detector. I've only every sold a few coins and then it was like selling fur. Not sure you get what it's really worth just what someone paid you??
I've thought about sending all the gold and silver to someone to have a gold button or bar made. But then the whole trust thing kicks in and I can't get myself to do it. I know the gold jewelry is all different 10k 14k 18k. Same with silver lot is stamped 925 but I have no idea what to expect back from a refiner?? Market goes bad who sets the value of the Silver coins I've saved?
I just hang on to things I probably should have sold years ago because I'm uneducated on it all.
I do love reading these posts and learning though.
Guess my kids will have to figure it out one day?

Mac

I like reading these kind of threads too.

Check the price of scrap lately? I have enough brake rotors to run a full time coon line.
Not sure which plan is worse lol.

yepper,we play "my scrap pile is bigger than your scrap pile lately."

I save stuff. I don't plan on making anything off of it. It will all go to my daughter, and she'll make a mint. She has nothing invested.

Gold and silver are all manipulated down by the banker's through paper gold and derivatives to protect the dollar. You probably will not see much of a rise in price unless there is a crisis. Witch could happen.

I will add there is more above ground gold than there is silver. Up is down and down is up these days. No real price discovery taking place in anything.

I always keep old silver coins as I get them

The best investment to me has always been ammunition and guns

I can’t eat silver and gold and I can’t kill anything with it


You always see the commercials about buying silver and gold in case the economy collapses but they are taking cash for it in return so how good is it really

All of the gold ever mined wouldn't even fill up the base of the Statue of Liberty. All of the jewelry you see now has been recycled at some point, same with recycling computer mother boards. A little gold goes a long way as it is extremely ductile. Paper money is only worth what the government says it's worth. It is backed by nothing. If things ever went sideways you have tangible assets in gold and silver, and monopoly money in paper.

My thinking is if things go south what is silver and gold actually worth

I know it would be worthless to me

Gold and silver are only worth what we say they are too. Remember that salt used to be the medium of exchange.

Nothing has intrinsic value. Only utilitarian value that we ascribe to it

I have a bunch of troy ounce silver coins from shooting trophies for trap shooting, silver was a little over $5 a ounce back then. I would shake my head, shoot all day pay for shells and targets and IF you win you get a $5 coin. LOL