Questions for silver investors/collectors

[bwframe]

Besides mostly being on the edge of broke most of the time (and jealous of you people with your disposable $ ,) I have often wondered how in SHTF I'd know the value of the silver someone wants to trade me for my water or food or ammo or guns?

 

[Airtevron1]

APMEX has always been good for me, they will also buy it back if you can profit. Several dealers on this website.

https://comparesilverprices.com/

 

[BugI02]

What is the obvious reason to have silver on hand?

Werewolves

 

[DoggyDaddy]

Werewolves

Or elegant place settings.

 

[rhino]

My opinion: the people who rave about silver as an investment vehicle are about the same level of wrong as the people who dismiss the potential value of silver in a bad situation.

 

[rhino]

Besides mostly being on the edge of broke most of the time (and jealous of you people with your disposable $ ,) I have often wondered how in SHTF I'd know the value of the silver someone wants to trade me for my water or food or ammo or guns?

If in doubt, pre-1965 US coins (and JFK half dollars through 1970 are a known and easily recognized quantity of silver (90% Ag for 1964 and earlier; 40% Ag for Kennedy half dollars 1965-1970). That's one of the reasons why so-called "junk silver" is recommended. Having a handful of pre-1965 dimes on hand isn't going to hurt anything and doesn't cost that much.

Rounds and ingots can be tricky. You could cut a round or ingot into pieces if you suspect it might not be actual silver all the way through. There are some diagnostics, but few of them are foolproof. If in doubt, go with US coins, pre-1965.

 

[Trigger Time]

If you have several thousand dollars to spend, i have several other better options to turn it into big profits other than silver.
Its all about what your end goal is

 

[jerrob]

I received some great advise when I started this thread to buy silver. So why not another dip in the well for some potential advise on selling.
I took the advise of those who recommended ASEs and constitutional silver.
I have accumulated a few hundred ounces with the bulk in the 90% stuff.
With Silver prices elevating almost daily, where do you see it going and when or would you sell.
I have a cost average of $15.40/oz and spot is at $25.09/oz as of this post.
Thanks.

 

[Trigger Time]

I received some great advise when I started this thread to buy silver. So why not another dip in the well for some potential advise on selling.
I took the advise of those who recommended ASEs and constitutional silver.
I have accumulated a few hundred ounces with the bulk in the 90% stuff.
With Silver prices elevating almost daily, where do you see it going and when or would you sell.
I have a cost average of $15.40/oz and spot is at $25.09/oz as of this post.
Thanks.

I see it going back above 30 an ounce. It was there several years ago too. I sold a bunch and cashed in.
I bought this time as I always do below $15 an oz. I think I scored some i know at 13, but maybe 11. I'd have to go look. Maybe that was last time. I keep good records of it because my memory is crap now.

Anyways, gold too. Way up. You can see upthread what I said my buy number was for gold too. I'm way up.

Same for platinum. We didnt discuss that before in here but I am way up.
Looks like my bullets are up again too


For selling, you need to decide that. Silver could hit 40 an ounce this time. I think it will keep rising until after the election and then drop faster than courtney loves dignity.

I have some silver and gold I'll always have on hand just in case for barter. I do know that the U.S. military/govt gives certain special teams gold coins for shtf scenarios. Gold is known worldwide and will always be worth something even if people are starving. Because prepared people will take gold and silver. So will broke people!! Fact.
Same with a rolex. Known worldwide and worth $$ anywhere in a pinch. Maybe I need a gun, car, safety, discreet medical care, in a 3rd world ****hole, or even in an American ****hole now or when SHTF? A rolex will ALWAYS get it for me, always.
There are many things you can keep on your person discreetly for barter. Watch. Other jewelry. Things inside your clothing or belts or hats. Even inside of shoes. Think outside the box.
Right now, I'd stock longterm food.
You missed the boat on guns and ammo If you arent stocked up.

 

[BugI02]

What is the obvious reason to have silver on hand?

To gather 30 pieces to pay Romney?

 

[BugI02]

I received some great advise when I started this thread to buy silver. So why not another dip in the well for some potential advise on selling.
I took the advise of those who recommended ASEs and constitutional silver.
I have accumulated a few hundred ounces with the bulk in the 90% stuff.
With Silver prices elevating almost daily, where do you see it going and when or would you sell.
I have a cost average of $15.40/oz and spot is at $25.09/oz as of this post.
Thanks.

Right now you could sell 60% of your stock and recover your investment. With the remaining 40% you can 'play with the houses money' with no worries about timing the market. You won't make as much as selling it all, but if you wanted to keep some that would be the way to go IMO

 

[IN71vet]

But are there other people like the Hunt Brothers waiting out there?

 

[Sigblaster]

I'm going to throw my in here, and they're copper-coated zinc ones, so take them for what they're worth.

I don't invest in silver. I collect it in case it will get me further than paper currency should the need arise. I collect it mosty in the easily-recognizable, easily-verifiable form of American Silver Eagles.

There have been times in modern history where precious metals would get you out of dire circumstances when paper currency would not.

There have been times where precious metals would go much farther than devalued paper currency.

I choose Silver Eagles because they are small and standard weights, and will generally not require asking for change back, which could make transactions... troublesome. Imagine someone wanting 3 ounces of silver to sell you something or provide you some sevice or exception, and handing them a 10 ounce silver bar and asking for change. Or handing them a Gold Eagle. "Sorry, I got no change. You pay with this or go away".

That's my layman's explanation of why I own silver. Just practical diversification of currency.

 

[Sigblaster]

If you have several thousand dollars to spend, i have several other better options to turn it into big profits other than silver.
Its all about what your end goal is

My end goal is to be diversified in my preparations. It's why my investments are proportioned the way they are for the age I am, it's why I own silver, and, get ready for it, it's why own firearms and ammunition.

I know, I sound like I'm a crazy person and all, but I bet there are at least a few people on here who own guns that they will never use for a SHTF situation, but they own them anyways. Just in case.

 

[Sigblaster]

give me some examples of where having a pile of silver helps you when SHTF. How long will said S hit said F? Are you talking some sort of massive EMP where access to our digital funds is gone?

do you think people are going to start trading in silver? Is there an example in modern history where when S hit a F in a country they reverted to precious metals as currency? How will you prove how much you have? Digital scale? EMP... how do you ensure purity? How do I know your bar isn’t just lined in silver and really just a rock?

bullion trading commercials and advertisements just seem so hilarious to me "Now is a GREAT time to buy silver as prices are at historic lows". It seems like a multi-level marketing scam. What about all the people who invested in it prior to now when it wasn't at a "historic low"? "some experts predict silver could hit $200/oz!" "Industry usage of silver shows we only have a three month supply now, this could spike prices!" Or... they'll produce more of it

SHTF scenarios are not necessarily the result of strategic nuclear bombardment between adversarial countries.

Seriously, if I have to give you recent examples of localized SHTF scenarios, you're better off not replying. You haven't been paying attention, and I have no interest in trying to educate you.

 

[Phase2]

But are there other people like the Hunt Brothers waiting out there?

JP Morgan Bank is the Hunt Brothers on steroids, but the government hasn't been attacking and trying to bankrupt them like they did the Hunts.

JP Morgan Now Bullish On Silver With 1 Billion Ounces and Gold With 25 Million Ounces

In 1979, the Hunt brothers had roughly 42 million ounces of silver and options on another 70-75 million.

How the Hunt Brothers Cornered the Silver Market and Then Lost it All

 

[AtTheMurph]

IMO almost no one gets the real value of gold (or silver).

It is not for when the SHTF. Silver or gold may give you something to trade to get through that. What they are good for is to convey wealth from the present financial system into the next.

If the dollar gets printed into extinction, which to me seems to be a certainty I just do not know when, then paper assets will all be subject total loss of value. If there is a counter-party who you rely on to repay your investment you are going to be SOL.

If your investment is in fiat currency you will be SOL. Fiat has no intrinsic value. Investments and debt denominated in fiat currency all have the same risk. You may get repaid in worthless paper.

Real assets retain real value. In that respect gold is historically the best conveyance of value over time. It is remarkably stable in real value. The saying in Rome 2000 years ago was that one ounce of gold bought a nice mans suit of clothing. Today it is the same. Gold (and silver to a lesser extent) is a store of wealth. Dollars are not.

If you are buying gold or silver to trade then good luck. If you are buying them as stores of wealth then IMO you are getting it right.

 

[dusty88]

IMO almost no one gets the real value of gold (or silver).

It is not for when the SHTF. Silver or gold may give you something to trade to get through that. What they are good for is to convey wealth from the present financial system into the next.

If the dollar gets printed into extinction, which to me seems to be a certainty I just do not know when, then paper assets will all be subject total loss of value. If there is a counter-party who you rely on to repay your investment you are going to be SOL.

If your investment is in fiat currency you will be SOL. Fiat has no intrinsic value. Investments and debt denominated in fiat currency all have the same risk. You may get repaid in worthless paper.

Real assets retain real value. In that respect gold is historically the best conveyance of value over time. It is remarkably stable in real value. The saying in Rome 2000 years ago was that one ounce of gold bought a nice mans suit of clothing. Today it is the same. Gold (and silver to a lesser extent) is a store of wealth. Dollars are not.

If you are buying gold or silver to trade then good luck. If you are buying them as stores of wealth then IMO you are getting it right.

This is somewhat my view. Precious metals are like insurance for your assets. I think our monetary system (not only money printing but high private and public debt) could lead us to a flip where assets drop in value but price of consumer goods inflates.

I don't know if this will result in the SHTF trading or just a shift in what is valuable. It's even conceivable the US currency gets some kind of reset.

And if you never need it, precious metals should at least hold some base value for resale for jewelry, electronics, etc after your kids inherit it and finally get rid of it.

There are a lot of downsides to this as well. If gold does go up in relative value, a windfall profit tax is conceivable. Even now, it's difficult in the US to hold or profit from physical gold and silver because it is taxed like an investment and there are few markets for it. My understanding is many countries it's common to have a place to exchange gold, but not here. And there are the obvious safety issues of keeping it at home, but the obvious expense issues of having someone else store it. You could ride in an ETF for a while but that obviously doesn't provide the benefit for any scenario except a change in price.

 

[AtTheMurph]

I think a prudent investor should have some allocation to unaffordium and also to unobtanuim.

Because when you finally wake up and realize what is really going on with out monetary and financial systems that's exactly what they will be.

 

[PistolBob]

Never hurts to have some gold/silver around...but keep and store some canned foods.