Going along with Dennis' comments, I will agree that there are countries out there that still may have gold and silver (other than coins), but will an owner of metals have the wherewith-all to pay to travel to those countries?
I agree with some of what you say and was certainly NOT saying Gold and Silver would be worthless.
In my case, the SHTF scenarios were short term, local problems. I can't tell you how many people I saw lost because phones and power were down and ATMs, check verification, etc were cut off. Not able to use debit cards, not able to use a check, and WalMart certainly wasn't taking Silver Eagles while their backup system was running!!
Long term is a different animal all together, but, don't forget the Gold Act of 1934. Something like that could easily happen again.
Would a secondary "black market" open up if we were in those straights? I'm sure, but...
I sort of like what Matt Bracken has in his Enemies Trilogy about the Gov outlawing the ownership of gold by private citizens and the Tribal lands stepping in and coining their own!
I agree that Venezuela is a good example of what can happen. PreWar Germany is another. I mean I have postage stamps that were for 5 MILLION marks!!
I think that the key is cliche. Don't put all your eggs in one basket.
Cash will still be king for the short term, long term is another story.
And I still believe that brass, lead and copper have their place in the hierarchy of precious metals!!
Dave
You do realize that some of us that put precious metals aside have been doing so long before the Internet was invented and the hucksters put out their commercials? This isn't something new. After they quit minting silver coins in 1964 my great grandparents started saving them. They immigrated from Russia in 19O5 and lived through the Great Depression and Dust Bowl.
None of us knew until after they passed. They hid them in different places around the house and put each of their children's names on the containers they were stored in. Maybe they knew something, eh?
I still have the fruitcake tin that was full of silver dimes that my grandmother passed on to me.
Never have I bought at market value. Either traded, bartered or bought from folks that needed quick cash. And what gold I have I mined in Alaska myself.
And how will I pay for that loaf of bread? Silver dimes, quarters or half dollars. Or maybe instead of paying for it I'll just bake it myself since I know how to do that.
Say what you will but I bet my preparations for whatever calamity may arise for me, my children or grandchildren are much more diversified then yours. Never be so closed minded that you can't see the possibilities.
What point are you trying to make? I didn't say to buy a loaf of bread with silver, if that's what you thought.
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How many 1921 morgan dollars would you guys buy for $20 each?
None, unless they are graded and are worth more than $20 each.
About $16.00 each. I'd take 10.
I have a stash of silver dollars my grandparents gave me for birthdays, etc when I was a kid. I've never considered them for investment or surviving SHTF situations. Some from the 1800's. Took some of the older ones to coin dealers over the years and yeah I could double the value and take $2 apiece for them. I just don't see the need or desire to buy metals, but to each their own. More valuable to me as family heirlooms.
I am always looking at ways to make money and had a friend recommend I invest in silver since its "at a 5 year low" and "if the US dollar collapses it will go sky high" so I have been checking into it and decided to post my thoughts:
Looking at a chart from an investment standpoint I see that it hung around the $5-$8 range for a long time with major spikes in 1980 (Hunt brothers bubble) and 2011 (world economy scare). Zoom in to a 6 month timeline and it is a pretty obvious trend...dropping like a rock. Right now it sure looks like a loser and a bad time to buy. News could hit tomorrow that would cause it to jump back up to $50 but im not going to bet on that. once it drops under $10 I may look into it some more but for now I would say no.
Looking at it from the prepper point of view I think it would be an excellent thing to have for barter. not EVERYONE will want to trade for .22 bullets and 10 lb of silver wont break the bank no matter the value. but yea I aint buying any lol.
Looking at a chart from an investment standpoint I see that it hung around the $5-$8 range for a long time with major spikes in 1980 (Hunt brothers bubble) and 2011 (world economy scare). Zoom in to a 6 month timeline and it is a pretty obvious trend...dropping like a rock. Right now it sure looks like a loser and a bad time to buy. News could hit tomorrow that would cause it to jump back up to $50 but im not going to bet on that. once it drops under $10 I may look into it some more but for now I would say no.
Looking at it from the prepper point of view I think it would be an excellent thing to have for barter. not EVERYONE will want to trade for .22 bullets and 10 lb of silver wont break the bank no matter the value. but yea I aint buying any lol.
