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Old 09-27-2011, 01:58 PM   #11
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Gold is too much for my blood, but I do have some silver. Mainly coins and some bars I purchased maybe 20 yrs ago. Only 20lbs, weight wise. Not much in the scheem of things really. I tend to think if you bought PMs when they were real low in price as they were 20-40 years ago, that they in fact are an investment. I have 5 $20 gold coins given to me by my Great Aunt before she died in '69. In '72 when I got out of school, seems it was $39 oz. They were minted in the early 1900s. Big move since then.

I too see no use for PMs in a sure enough TEOTWAWKI scenario. No doubt I can't eat lead, but I can protect myself, have a viable trade item and can take game if need be.

I the main reason I have some silver is, most of it has been mined according to most sources. It will become more valuable down the road for industrial uses. My main metal I have now is nearly 30 yrs worth of #1 copper. Cut-offs from all the services I hooked up thru the years. Close to 1200 lbs. That's my liquid $$$ if I get in a bind $$$ wise.

Jimmy

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Old 09-27-2011, 02:47 PM   #12
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I too see no use for PMs in a sure enough TEOTWAWKI scenario.
TEOTWAWKI is the extreme SHTF scenario. If that comes, who cares what you invested on?

I prepare for what I think is most likely to happen and IMHO it is dollar collapse or natural disaster (earthquake, volcanic eruption, flooding, hurricane, drought, etc.). Third world countries went and are going through; civil war, famine, flood, earthquake, economic upheaval, etc. and I hope we can handle it the same way (or better than) they did/do.

Like BKT, I believe silver is undervalued that is why I preserve the value of what little I have by converting it to silver when I can.
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Old 09-27-2011, 03:29 PM   #13
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Historical gold:silver ratio is 1:16. Current ratio is 1:52. Gold isn't overpriced; silver is undervalued.
While you are correct "historically"...in fairness 1:16 ratio has not been around since 1880. The average ratio the past 130 years is 1:48. The average ratio the past 50 years is 1:50.

***These are all based on data I collected from Kitco.

Given all these, I still use 1:40 for myself as my gauge.
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Old 09-27-2011, 03:34 PM   #14
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TEOTWAWKI is the extreme SHTF scenario. If that comes, who cares what you invested on?

I prepare for what I think is most likely to happen and IMHO it is dollar collapse or natural disaster (earthquake, volcanic eruption, flooding, hurricane, drought, etc.). Third world countries went and are going through; civil war, famine, flood, earthquake, economic upheaval, etc. and I hope we can handle it the same way (or better than) they did/do.

Like BKT, I believe silver is undervalued that is why I preserve the value of what little I have by converting it to silver when I can.
Guess that was the point I was making. Been thru 6 major hurricanes, Betsy thru Katrina. So that is what I prep for more than anything.

I too, believe silver is undervalued. And for some I guess it is a base for wealth. At my age and place in life, I'll take my mini farm/retreat over any metal for really bad times.

I'll trade/barter veggies/trade items for other tangable items, as we do now.

Good thread.

Jimmy
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Old 09-27-2011, 03:43 PM   #15
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Guess that was the point I was making. Been thru 6 major hurricanes, Betsy thru Katrina. So that is what I prep for more than anything.

I too, believe silver is undervalued. And for some I guess it is a base for wealth. At my age and place in life, I'll take my mini farm/retreat over any metal for really bad times.

I'll trade/barter veggies/trade items for other tangable items, as we do now.


Good thread.

Jimmy
Given a choice, I would go with a mini farm (over silver) too...but being a city worker, it is not an option for me right now. Maybe someday all my silver will be sold to purchase a small patch of land.
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Old 09-27-2011, 04:21 PM   #16
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While you are correct "historically"...in fairness 1:16 ratio has not been around since 1880. The average ratio the past 130 years is 1:48. The average ratio the past 50 years is 1:50.

***These are all based on data I collected from Kitco.

Given all these, I still use 1:40 for myself as my gauge.
*shrug* OK, that's fine. The 1880's was our silver boom when silver lost a lot of value due to such incredible abundance in North America. But around 95% of all silver ever mined has been used in industry in ways where it cannot be recovered leaving less silver above-ground today than gold.

You're welcome to buy whatever you want for whatever reasons you want.

Looking at it long-term over a few thousand years, the ratio has been about 1:16. If we could get JPMorgan-Chase and other institutions to stop manipulating PM prices, I think we would see a significant rise in silver price which would get us much closer to the old ratio rather than the 1:52 (or so) we're at today.
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Old 09-27-2011, 04:41 PM   #17
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But around 95% of all silver ever mined has been used in industry in ways where it cannot be recovered leaving less silver above-ground today than gold.
This is the main reason why I am banking on silver. We are supposedly using more than we can mine right now (in medical, electronics, etc. application). In effect, depleting the stockpile we have every minute.
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Old 09-27-2011, 05:01 PM   #18
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Originally Posted by Vincine View Post
9-26-11 PM.
Gold is $1600, Silver is $30.
Gold took a small hit.
Silver's taking a dive, again, like it did on 4-29-11.
Which are you buying, if any?
Which would you buy if you could?
neither. now isnt the time to buy and hold precious metals. the time to buy gold was several years ago. now is the time to be selling gold like all the big investment firms are doing. thats where all the gold is coming from. when gold goes back to its normalish levels thos same firms will be using the money they made selling gold now to buy cheap gold when it crashes.

its going to crash overnite at some point.
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Old 09-27-2011, 07:34 PM   #19
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neither. now isnt the time to buy and hold precious metals. the time to buy gold was several years ago. now is the time to be selling gold like all the big investment firms are doing. thats where all the gold is coming from. when gold goes back to its normalish levels thos same firms will be using the money they made selling gold now to buy cheap gold when it crashes.

its going to crash overnite at some point.
That's extremely good advice if the foundation of your economic system - the dollar - is in good shape. But it isn't.

The purpose of holding precious metals is a hedge against the dollar faltering big-time; it is a store of wealth that will carry over regardless of what your investments and wealth that are based in dollars might do. To expect dollars today to increase their value in the future thus enabling us to buy silver at $5/oz again seems a little too optimistic for my blood.

It was great buying silver under $10/oz. But in light of the fact it has been well into the $40's recently, for it to dip below $30 implies a pretty reasonable buying opportunity, IMO.
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Old 09-27-2011, 08:15 PM   #20
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I have a lot of silver I bought below $10/oz., I think I'll just hang on to it, other than some that have gained some numismatic value.
Can anybody tell me why 40% silver coins have a spot price higher than 90% silver coins? Just curious.

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