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Old 03-13-2011, 01:41 AM   #21
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Quote:
Originally Posted by TrueNorth View Post
Lastly,

for anyone who will continue to buy silver no matter what, I say this: buy bullion with a face value. I recommend Canadian gold/silver Maple Leafs. These coins are the purest silver/gold coins in the world (.99999 if you get years 2007 on I believe, .9999 before that). There is NO purer metal in the world than those coins. If buying silver especially, get the 1oz coins with a $5 face value. The face value is fiat CDN Dollar currency, but if silver does become worthless, the coin is still backed up for paper currency value of $5. ($50 for the gold coins).

Coins cost a premium over the silver bars, but are backed up by the face value which I believe is a safety net for value.
I prefer bullion legal tender silver but not for the reason you mentioned. Sorry but I am not buying a dollar silver coin for $35.00 because it is worth "a dollar" (its face value). I am buying it because of the silver content, it is recognizable, highly accepted, and no one dare make counterfeit because of the penalties that goes with it.
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Old 03-13-2011, 01:43 AM   #22
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TrueNorth- very good post.

IMHO, as an INVESTMENT, metals are chancy.

As a means of PRESERVING value, somewhat better.

As PART of preparing for the day that may be the "OH CRAP!" day, a pretty good idea. Myself, I do not even try to have a huge quantity of metal bullion- but a few rolls of pre-65 dimes, quarters, halves (and a few dollars) in the back of the gun safe is not a bad thing. I was buying small quantities of US coins from local folks for melt value (sometimes slightly over melt for nicer quality coins) up until 6 months ago. For now, I will hold unless price drops- in which case, I'll add some more.

Yes, in TEOTWAWKI, you can't eat silver. But does make a handy medium of exchange- which is really what money IS.

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Old 03-13-2011, 01:53 AM   #23
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My step dad is an electrician, he sometimes comes across silver for conductors. He made some Morgan silver dollars with leftovers. Are those pure or alloy?

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Old 03-13-2011, 03:04 AM   #24
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My step dad is an electrician, he sometimes comes across silver for conductors. He made some Morgan silver dollars with leftovers. Are those pure or alloy?
Huh? He is a counterfeiter?
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Old 03-13-2011, 03:25 AM   #25
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Go to your local grocery store and try and pay in old silver coins. Or gold Krugerrands. Chances are they won't be able to make change for you. If somebody came into my business with a bar of silver I wouldn't know how to use it in a business transaction.

Would you?

Invest in lead and casting equipment. If you have silver and lead it can be cast into bullets. Expensive, but useful.

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Old 03-13-2011, 03:38 AM   #26
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Go to your local grocery store and try and pay in old silver coins. Or gold Krugerrands. Chances are they won't be able to make change for you. If somebody came into my business with a bar of silver I wouldn't know how to use it in a business transaction.

Would you?

Invest in lead and casting equipment. If you have silver and lead it can be cast into bullets. Expensive, but useful.
Of all recorded history, kingdoms, governments, and countries fell/collapsed...but gold and silver endured. How many currencies lost their value? Did PM suffered the same fate?

I am not arguing about ammo and other commodities...just do not discredit precious metal.
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Old 03-13-2011, 04:31 AM   #27
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Huh? He is a counterfeiter?
Nope, they're clearly fakes. No attempt was made to counterfeit the Morgan, it does have a similar face which is why he refers to them as Morgans.
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Old 03-13-2011, 07:45 PM   #28
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Quote:
Originally Posted by Vikingdad View Post
Go to your local grocery store and try and pay in old silver coins. Or gold Krugerrands. Chances are they won't be able to make change for you. If somebody came into my business with a bar of silver I wouldn't know how to use it in a business transaction.

Would you?
Yes. But as anyone here who knows me will tell you, I'm...not the norm. In fact, if you came in and wanted to pay in PM I'd give you a discount and apologize for giving your change back in currency.

I don't presume that one day I'll walk into my local grocery store with a few ounces of silver in order to by food. Owning PM is only a way to preserve wealth in a time when currency and markets are unstable. At some point, there will be a return to something resembling normalcy and stability and exchanging a stash of PM for the currency of the day will make my life a lot easier.

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Invest in lead and casting equipment.
That's good advice no matter what.
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Old 03-13-2011, 07:56 PM   #29
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I can vouch for the lead, I have access to literally tons of it.

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Old 03-14-2011, 12:37 AM   #30
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Just a thought- check out some of the older Chinese ladies- the ones that HAVE been thru not only SHTF but TEOTWAWKI. Now look at the few bits of jewelry that they never take off. Gold and jade. Portable, durable, and not reliant upon the "full faith and credit" of any government. (lately, my faith in governments is a bit shaky, since all they HAVE is credit)

Would I expect to walk into a grocery store, pay with Peace silver dollars, and have them give me change for the metal value of the coins? No.

BUT- most things you know have crumbled, and don't show any signs of returning to business as usual. Grocery store is empty. My neighbor has sausage, I have whiskey, and the guy just down the road has corn meal. I buy sausage with silver. He buys corn meal with the same coins, and that guy buys a quart of C3's best- we each got what we wanted, coins are back in safe. It is merely a simplification of barter.

But what is we never have a SHTF scenario? Then I have a small quantity of nice old silver coins. I did not bankrupt myself to get them. They won't rust or rot, won't become totally worthless, and the grandkids may like them some day.

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