Silver if the dollar fails?

[Stschil]

The same can be said for pennies. Scrap copper is some of the most valuable junk on the planet. The age of electronics cannot exist without copper.

Oh yeah, forgot to mention all those New Agers out there with their magic copper bracelets to provide them with earthly power and energy

As long as they are pre-1983 pennies. Copper content was reduced in 83 because it cost the gubbermint more in base metal then the coin was actually worth. Nickles will be the same very soon. Quarters, Halves and 'silver' dollars have had very little base metal value since 1970 when they start to be clad coins (I don't think the plated layer on the outside is even silver anymore) Pre 1970, I think they were still 40% silver. Dimes went to clad in 63 (I believe). Before that they were 90% silver.

Just your government at work, stealing from us without us even realizing it.

 

[Indiana_Dave]

This is exactly the type of people we need to prepare for...

agreed. We'd all be safe if every single person would prepare, with enough food and water, etc. for his own family. Alas, we'll be doing well if 10% of the population does. "Yeah" will be sorry to learn that the 10% includes a fair number of folks in and around Paragon, who will take care of him and his robber kind pdq.

 

[Indiana_Dave]

If silver directly reflected the worth of a dollar is it even worth stocking up on if the dollar fails? .

Silver does not reflect the worth of the dollar; it's inversely related. The stronger the dollar is, the more silver you can buy with it, i.e., the lower the price of silver. Conversely, the weaker the dollar is, the more dollars it takes to buy 1 oz. of silver, i.e., the price of silver goes up when the dollar weakens.

 

[jsharmon7]

I've heard several people on this site mention the possibility of the dollar collapsing. I guess I live under a rock, can someone enlighten me as to why people think this is imminent?

 

[Stschil]

I've heard several people on this site mention the possibility of the dollar collapsing. I guess I live under a rock, can someone enlighten me as to why people think this is imminent?

At present, the Fed is printing dollars day and night, in an attempt to inflate it's way out of debt. The ONLY reason the Fed is able to do this is because the dollar is the Worlds' reserve currency. Everything is tied to the value of the dollar.

There are more than a few World Bank member countries that are calling for a new reserve currency because the value of the dollar is falling because of this intentional inflation. If the US Dollar loses it's reserve currency status, we are screwed because with the ultra low value due to the massive printing, we as a country could not afford to even pay the interest on our ever mounting National Debt, which sits somewhere around the $200 Million mark at present and is sure to rise as the Fed is continues to promote more debt as a way to finance all the entitlement programs the government keeps coming up with.....

This is all in layman's terms as I understand it. I am not a financial advisor. I'm sure there are a few things that I have missed.

 

[grunt soldier]

At present, the Fed is printing dollars day and night, in an attempt to inflate it's way out of debt. The ONLY reason the Fed is able to do this is because the dollar is the Worlds' reserve currency. Everything is tied to the value of the dollar.

There are more than a few World Bank member countries that are calling for a new reserve currency because the value of the dollar is falling because of this intentional inflation. If the US Dollar loses it's reserve currency status, we are screwed because with the ultra low value due to the massive printing, we as a country could not afford to even pay the interest on our ever mounting National Debt, which sits somewhere around the $200 Million mark at present and is sure to rise as the Fed is continues to promote more debt as a way to finance all the entitlement programs the government keeps coming up with.....

This is all in layman's terms as I understand it. I am not a financial advisor. I'm sure there are a few things that I have missed.

and by 200 million he really means two hundred trillion we are about to get royally ****ed if our newly elected folks don't step up to the plate. and even then it may be to little to late. prep folks. buy your seeds and rain barrels or hand pumps. please get ready for the coming fall. whats the old saying. your always at your greatest peak before your biggest fall

 

[Kick]

Wow. After skimming this thread.... It looks like I'm going to have to back up my investments with a few different options.... .

Although Silver is a great idea... Have you ever thought about other items of value that could be bartered with?

 

[CarmelHP]

As long as they are pre-1983 pennies. Copper content was reduced in 83 because it cost the gubbermint more in base metal then the coin was actually worth. Nickles will be the same very soon. Quarters, Halves and 'silver' dollars have had very little base metal value since 1970 when they start to be clad coins (I don't think the plated layer on the outside is even silver anymore) Pre 1970, I think they were still 40% silver. Dimes went to clad in 63 (I believe). Before that they were 90% silver.

Pre-'64 dimes, quarters, halves and dollars are 90% silver
Post-'64 dimes and quarters are nickel clad copper
'65-'70 halves are 40% silver, post-'70 are nickel clad copper
71-'76 Ike dollars are 40% silver, then nickel clad copper

For a more complete list see Current Melt Value Of Coins - How Much Is Your Coin Worth?

 

[teddy12b]

if your not stocked up on food and hygene items and water, etc, then you shouldnt be buying silver first. EVERYTHING will be easier ti find and buy now rather than after the disaster. just because you have silver doesnt necessarily mean jack, if bread is 100 ounces of silver per slice.

barter items are more valuable than silver and gold in my opinion. but that doesnt mean i wont have silver and gold.

you wanna know 2 things that will be the most valuable after a long term disaster, even more than food and water? ALCOHOL & Cigarettes. you stock up on those and have it when TEOTWAWKI hits and you will be wanting for nothing.

sure it can be made and grown, but how long will it take to get a steady stock of it? demand will be higher than supply for a while

^^This.

Silver is the last thing I bought to add to my preps. I need food, water, shelter, first aid, and a means to retain all my property (guns & ammo) in order to live. If you have food, seeds, water, water filters, and a way to keep your house warm without utilities you're going to be ahead of the game, but you will have unprepared looters knocking on your door or watching you from a distance after some time.

We're approaching some very scary times in our countries history. Look back at history and learn from it. After Katrina hit people didn't get killed over silver and gold, they were killed over food, water, & guns and to get to that point didn't even take a month. Look at Haiti and how long it took for the machetes to come out when the food ran out. These examples are why you should buy precious metals last. You need to get stocked up on food and supplies.

Once most of chaos is over and there are less people left standing then a bartering system will emerge. That's when the precious metals will be worth something. All my silver is in 1oz, or 1/2oz, units that are clearly labeled with their purity and weight.

Having said that I've got some silver, there is a point of diminishing return. I've got about $700 worth of silver, in today values which translates into 20oz's which in the grand scheme of things isn't much for $700. Today I can take that same $700 and go to Sam's club and buy $700 worth of food and preps and I'll be able to add months of life to my families insurance policy.

 

[teddy12b]

Although Silver is a great idea... Have you ever thought about other items of value that could be bartered with?

In my case, for as much as silver costs today I have what little silver I may need. For the same money I can buy additional quantities of 22lr ammo, dehydrated butter, wheat, rice, lanterns, beans, krusteze pancake mix, honey, fishing gear or whatever else I could possibly need. All real items will have trading value at some point so if I've overstocked on 22lr ammo (which I intend to be) then I'll have something very valuable that other people will want. That's the bottom line of bartering.

 

[GoDawgs]

From my personal post-apocalyptic experiences, I'd say bottle caps were a better investment . . .

 

[Stschil]

and by 200 million he really means two hundred trillion we are about to get royally ****ed if our newly elected folks don't step up to the plate. and even then it may be to little to late. prep folks. buy your seeds and rain barrels or hand pumps. please get ready for the coming fall. whats the old saying. your always at your greatest peak before your biggest fall

I was in error as I wrote. The Interest payment ALONE on the National Debt is somewhere in the are of $200 Million! We haven't even started to pay back any of the principle on that debt.

Think $10 minimum payment on you $500 credit card balance. You'll be paying that for 20 years without ever even touching that $500 of actual debt. Now mulitply that by some ungodly exponential number and you have how long it will take the US to pay off it's debt, even it if never borrows another stinkin Yuan from China again.

The US Government is making interest payments on the money it's borrowed with more money it's borrowed, resulting in more interest and more debt. It just keeps circling and circling***,like your toilet bowl. Sooner or later...well, You know what happens.

 

[peloe16]

you say "if our economy competely fails" then ask if its a good idea to invest in foreign currency? imo, if our economy fails, all the others have already failed.