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Old 07-28-2011, 04:52 AM   #41
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For what my very humble opinion might (or might not) be worth...

I like silver, though simply owning it cannot be compared to having food, water, emergency supplies, etc. stored.

For me, silver isn't the type of investment where I am waiting to for it to go up so I can make a few bucks. I look at it as something that will still have value if my paper money becomes worth less than toilet paper. (Which wouldn't shock me since apparently the answer to everything is to print more money.) Hopefully I will never need it and could pass it on to potential kids or grandkids someday.

It is something many average people (like me) can afford to buy, even if it is just a little at a time (unlike gold, which I could not afford.) In answer to Cnynrat, U.S. minted silver coins are fairly well known for their composition and I feel are reasonably"safe" to trade if paper money became worthless or you couldn't get to the banks. Those who didn't know anything about silver U.S. coins would quickly learn at that point. Since silver prices are much lower than gold, it would be a lot easier to trade with silver... mercury dimes (worth about $2.90 right now) could buy you some vegetables from your neighbor, but gold coins would be a different story.

I don't expect anything out of silver other than something close to what I put into it in the event that I need to convert it back to cash (assuming the dollar still has value), something that will have some value for trade (assuming the dollar has little value, but not a worst case scenario), or something with no immediate value that would eventually regain some value down the road (in a worst case scenario.)

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Old 07-28-2011, 03:42 PM   #42
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I bought silver when it was around $4.00/oz and have a pretty good stash.

I just can't buy it at today's prices.

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Old 07-28-2011, 08:51 PM   #43
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Quote:
Originally Posted by shadamai View Post
For what my very humble opinion might (or might not) be worth...

I like silver, though simply owning it cannot be compared to having food, water, emergency supplies, etc. stored.
No one is suggesting buying silver to the exclusion of doing anything else to prep for a potential problem down the road. Get your food, water, meds, firearms and ammo stuff together at the same time you're purchasing silver or other things which will serve as a store of wealth.

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For me, silver isn't the type of investment where I am waiting to for it to go up so I can make a few bucks. I look at it as something that will still have value if my paper money becomes worth less than toilet paper. (Which wouldn't shock me since apparently the answer to everything is to print more money.) Hopefully I will never need it and could pass it on to potential kids or grandkids someday.
You're exactly right on PMs not being an investment: they're just a store of wealth in the event the dollar craps out.

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It is something many average people (like me) can afford to buy, even if it is just a little at a time (unlike gold, which I could not afford.) In answer to Cnynrat, U.S. minted silver coins are fairly well known for their composition and I feel are reasonably"safe" to trade if paper money became worthless or you couldn't get to the banks. Those who didn't know anything about silver U.S. coins would quickly learn at that point. Since silver prices are much lower than gold, it would be a lot easier to trade with silver... mercury dimes (worth about $2.90 right now) could buy you some vegetables from your neighbor, but gold coins would be a different story.
It has been mentioned before, but the gold:silver ratio has historically been 1:16. Gold is NOT overpriced, which means silver should be at around $100/oz. So even at $40/oz, it's still a good deal.

Junk silver is cheap, recognizable and a great alternative currency. Personally, I'm OK with a non-sovereign bullion round or bar as long as the weight and purity are marked on it.

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I don't expect anything out of silver other than something close to what I put into it in the event that I need to convert it back to cash (assuming the dollar still has value), something that will have some value for trade (assuming the dollar has little value, but not a worst case scenario), or something with no immediate value that would eventually regain some value down the road (in a worst case scenario.)
Right. You don't hold PMs with the intention of using them during a crisis. They are for cashing in after the crisis has passed or for passing on to kids and grandkids if no crisis occurs. Tobacco, tampons, and toilet paper make far better money during a crisis than precious metals.
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Old 07-29-2011, 10:54 PM   #44
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@bkt... Don't worry, I don't think anyone on here is advocating buying silver over preparing. Most of the people on this forum are too reasonable for that. I just see so many people in the U.S. who think that either a) their money or b) the government will solve everything in life.

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Old 09-26-2011, 04:10 PM   #45
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Silver prices just took a nose dive...and I took advantage of the "opportunity" and bought a couple more silver eagle rolls.

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Old 09-26-2011, 04:44 PM   #46
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Silver prices just took a nose dive...and I took advantage of the "opportunity" and bought a couple more silver eagle rolls.
This is a great buying opportunity. I'm going to buy some later this afternoon.

I'm surprised at the drop - sorry about being dead wrong above. I didn't predict the dollar would look so favorable and people would flock to it like they are. I still think that's short-sighted; the buck is following in the euro's footsteps and without a remedy to cure the problems with the dollar it will eventually crap out, too.
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