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Buying silver

Discussion in 'Preparedness & Survival' started by coctailer, Dec 24, 2009.

  1. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    I know it's not that high on the priority list, but is anyone picking up silver coins?

    I work at gun shows every weekend, and I have been getting in the habit of buying a couple Silver Eagles each show.

    There are 1oz ingots, Trade unit coins, Maple Leafs, etc.

    Anyone adding this to their Econ Collapse portfolio? What are the best ones to buy?

    Sounds kinda stupid, but it feels good adding a few each month to the stash.

    I know this won't be a big help in SHTF, but it may for the SHTF we are going through now.

    Retarded, or smart..................you tell me.
     
  2. terrylf72

    terrylf72 Portland, Oregon, United States Member

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    Yes.. I have been putting roughly $200 towards buying silver and gold every month. $50-60 into silver and the rest into gold.
     
  3. dave

    dave Independence Member

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    I have as well. I prefer the bar stock to the coins. Just personal preference.

    I noticed in one of your ads Andrew you stated you would accept silver for payment. I thinks thats a great idea/opportunity.

    Ive heard some forecasts that silver will go upwards of $30 within the next 3 years? Dunno, but the $9 a troy ounce prices from just a year ago have nearly doubled.

    Sure cant hurt. Kinda fun as well

    My kids are all getting silver ounce bars in their stockings this year.
     
  4. Andy

    Andy Aurora, OR Active Member

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    Silver is drastically under-priced. Historically silver has been 12-18% of the gold price. Right now its about 2%. This has happened only twice in history. Can you guess when the other time was?
     
  5. Camtender

    Camtender SE Portland Member

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    An investment in silver is necessary insurance becasue all central banks are printing money right now To be honest, how many people do you know that have any real amount of physical silver or gold for protection?- I know two people and both purchased after I explained to them why it is a good idea. A five to ten percent investment is a must during these times.

    According to the National Inflation Association, silver will be the best investment over the next decade.

    "We are less than three weeks away from entering the next decade. The most important thing you need to know entering 2010 is that silver is the single best investment for the next decade. In our opinion, investing into silver is the only sure way to tremendously increase your purchasing power over the next ten years.

    Throughout world history, only ten times more silver has been mined than gold. If you go back about 1,000 years ago between the years 1000 and 1250, gold was worth ten times more than silver worldwide. From year 1250 to 1792, the gold to silver ratio slowly increased from 10 to 15 and the Coinage Act of 1792 officially defined a gold to silver ratio of 15. The ratio remained at 15 until forty-two years later when the ratio was increased in 1834 to 16, where it remained until silver was demonetized in 1873.

    The gold to silver ratio remained between 10 and 16 for 873 years! It is only over the past 100 years that the gold to silver ratio has averaged 50. History will look back at the artificially high gold to silver ratio of the past century as an anomaly, caused by the dollar bubble and the world being deceived into believing that fiat currencies are real money, when in fact they're all an illusion. Next decade, the fiat currency experiment will end badly in a currency crisis. The wealthiest people will be those who bought silver today and were smart enough to research and pick the best silver mining stocks."


    I recommend that anyone looking to buy coins, buy American Eagles because they are very hard to reproduce or create fakes. And if you can get them for $2 over spot or less, buy many. When the US Mint stops stamping them (as they do from time to time) the spot price can double in a short time. Plus American Eagles are US currency. Eagles will always be worth more and much easier to sell, just look at eBay.

    I only buy from APMEX.com 1 oz Silver Eagles for Sale | APMEX Silver Eagle Coins | Silver Coin Investment (http://www.apmex.com/Product/23331/1_oz_Silver_American_Eagles___Brilliant_Uncirculated.aspx)
     
  6. Camtender

    Camtender SE Portland Member

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    NIA's Top 10 Predictions for 2010

    The National Inflation Association is pleased to announce its top 10 predictions for 2010.


    3) We will see a sharp decline in the Gold/Silver ratio.

    The Gold/Silver ratio is currently 64, above the average of the past 100 years of 50. Between the years 1,000 and 1,873 when silver was used as real money, the Gold/Silver ratio traded between 10 and 16. In recent history, the Gold/Silver ratio dipped below 20 on two occasions, once in 1968 and once again in 1980.

    NIA believes silver prices will continue to outperform gold in 2010, as the world once again begins looking at silver as money, instead of just an industrial metal. The Gold/Silver ratio could decline to below 50 in 2010.
     
  7. Blackfeather7

    Blackfeather7 Oregon Member

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    Eagles, rounds and/or bars. Turn your fiat paper into real money before it takes a wheelbarrow full of greenbacks to buy a loaf of bread.

    www.apmex.com is the place to buy silver. Avoid Northwest Territorial Mint like the clap.
     
  8. Monkeyman

    Monkeyman Portland, OR Member

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    can't go wrong with old us silver quarters; also any minted one ounce silver pieces like maple leafs, etc.

    If you're planning on using gold/silver for barter post-shtf, gold bars won't do much good. 1 oz gold= $1400+, one silver quarter = $5.

    Got change for a thousand?
     
  9. tionico

    tionico Thurston County Well-Known Member

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    I've recently begun doing this as well, and I've little to set aside for this sort of thnig. I;m convinced it is wise.

    As to Eagles... there are two schools of thought. one is, that since they're real money, and US, they have greater value, and will hold that. The downside is that they are priced far higher than the metal value contained in them, 1 troy ounce of .999 pure silver. So, their value, or immediate selling price, derives from two factors, their metal content (guaranteed as stated, and no questionn about it) an d their numismatic, or coin, value. Since they bear dates, some years have higher production numbers than others. The trouble with them I see, and this was confirmed to me by a knowledgeable dealer I met whilst in Ohio last week, is that the silver value will ALWAYS hold, relative to spot prices, whilst the coin, or rarity, value may not. For the price of a proof silver eagle, I can buy two and a half silver rounds, of exactly the same weight and purity. Thus, I am not paying for the value of the coin itself, only the value of its metal, which remains a constant relative to spot silver price. I did pick up a few Eagles from this dealer, as he had them at what I felt was a devalued price. I got his last two, one at $20, the other at $22. Both burnished proofs, in US Mint packagine (plastic case, blue presentation box). He had one other, at $28, and one polished proof... he first quoted a little under $30, but when we got serious (I guess he thought I was a lookie Lew at first) he looked it up in the current list, and it suddenly became $51. I left it there. He also had some minted silver rounds, commemorative medals (Desert Storm, Bill of Rights, all dated and in nice mint-style presentation cases.. at $20 each... I cleaned him out. two days later, a shipment of new dated rounds, loose, came in, and I bought ten more at $20 each. Again, I felt the wiser investment was for the weight of the silver itself, and not so much for the numismatic value.

    He also had a fair bit of "junk silver", no more dollars but some halves... he wanted 13x face, so I passed. He also had a number of coin grade silver dollars, but wanted $28 for any of them.. again, I passed, preferring the value of the metal itself, and not seeing enough additional value in the coins themselves.

    But, what I've been seeing falls right in line with what has been said above. I'm thinking I should sell off a couple of my spare Mercedes diesels and put the sales price in silver. I've just about scored all the guns I want, so what remains is silver and ammunition to feed the guns. Hard times and general falling apart scenarios, its hard telling which would be more valuable for barter. A dozen eggs for two .45 ACP FMJ? Well, I guess I can do that.... but ONLY today.
     
  10. Gunner3456

    Gunner3456 Salem Well-Known Member

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    I like three things for future barter but I could certainly be wrong. Brand new, brand name $129 Bi Mart .22lr repeating rifles on sale or similar from private parties, ammo especially at least a brick each to go with those rifles, and silver. Just for me, gold is for storing very large sums long term, not for spending.

    I have too many silver coins with numismatic value - many not real valuable but things like Morgan dollars. Next week I'm going to start working on converting those to silver that's closer to spot. I should be able to more than double my total silver by doing that. I agree that if the SHTF the numismatic value will decrease but the raw silver won't.

    I don't really care what the price of guns, gold, silver or ammo does, because in a crash it can't be predicted what money will do. I believe that the value of those items will at least stay even with the economy for barter value and if the SHTF they will win.

    I think it's smart to remember that people can't eat silver. Not everyone will have enough food or other necessities to be willing to trade it for silver. Who knows? Toilet paper might be easier to trade than silver, lol.

    As always in investing, I want to diversify.

    $.02
     
  11. Camtender

    Camtender SE Portland Member

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    New silver American Eagles are only $1.99 over spot at AMPEX today (less than $20). It is hard to buy any new silver coin for less than $1 over spot. Therefore, I don't think there is any downside to buying the Eagles at $1.99 over spot right now.
     
  12. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    I think he is talking about proofs. Those are more expensive because they are collectible.

    I would be buying un-circulated Eagles that are closer to spot.

    The Currency (Eagles, Maple Leafs)coins are about $2 more than the trade units or 1oz bars.
     
  13. coctailer

    coctailer Portland, OR/Hastings, MI/Vancouver,WA I run with scissors.

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    At the gun show last weekend in Portland, there was a coin dealer selling the Eagles and Maples for $20

    Trade Units and 1oz bars were $18

    He had toooooons of them there.
     
  14. tionico

    tionico Thurston County Well-Known Member

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    interesting related thought: you mentioned toilet paper being perhaps a mroe valuable barter item than even silver.

    Yes, things we NEED daily often retain their value, or even increase enormously.

    Thinking of other commodities that might be difficult to get when things fall apart... coffee is definitely one of them. No, I don't mean the round cans from the grocery store. I mean the whole, green (raw) beans, which store almost indefinitely. When things fall apart, the normal distribution network that imports and distributes them will be broken.. it does not grow here in the US, so MUST be imported. Having a stock of that in hand might not be a bad investment...... I'm thinking of a few tons...... hey. Starbux, look out. You won't have any and I will.......

    silly thhoughts....

    silver IS good, though.....as are bullets, cheap functional guns... maybe a crate of three of WW 2 vintage field rifles, with spamcans of ammo for each. They'd make good food-hunnting tools.......
     
  15. jacknast76

    jacknast76 USA New Member

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    Just remember PM's are nice, but if SHTF doesn't happen, what dealer will pay you spot for them? NONE. You will be lucky to get 70-80% of spot. SO we (as I have acquired some) better hope silver goes up above $25 (if you bought at $17 or below) or we'll barely be beating inflation.

    As for everyday items, they increase in value per inflation, basically gaining 2-5% each year. I can't imagine using my hand or leaves every day awww if shtf we're all gonna smell like the french. I had heard that in bosnia during the last war TP was gold. And cigarettes in germany circa 1945 would get you anything you wanted.
     
  16. ogre

    ogre Vancouver, WA Well-Known Member

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    There have been some interesting points made here. I have a small amount of silver and a way smaller amount of gold. I'm not a big fan of American Eagles; I much prefer silver rounds.

    In general I think that silver is overpriced at the gun shows. I find better deals in some of the Portland jewelry shops. I believe that the silver gold ratio is about 63/1 today. I am almost tempted to trade in my pittance of gold for silver and then trade back again when the ratio narrows.

    I hope that all here are celebrating a wonderful Christmas and I hope that the new year is both happy and prosperous for each of us.
     
  17. Silver Fox

    Silver Fox Puyallup, WA Well-Known Member

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    I have about 7 cases of wolf 7.62x39 I bought back in '04 for $65.00 per case. Prices now seem to have stabilized at or about $240.00 per. My south African.... Dang I wish I had bought more of that stuff when I was getting it for about $18.00 per battle pack.

    Seems to me that minted silver has a less likely chance of being banned than importation of bulk mil spec ammo.

    I received two silver coins for Christmas, one is a silver eagle and the other is a trade unit dated 1981. What's the story on the trade unit?

    SF-
     
  18. Blackfeather7

    Blackfeather7 Oregon Member

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    "Silver Trade Unit" just means it is a standard 1 Troy oz .999 silver round. Most have a particular mint's design on them but are all worth the about same, currently spot ask $17.55 + .99 = $18.54. American Eagles have a higher premium because they are also coin of the realm and have a more elaborate design currently $17.55 +$1.99 = 19.54
     
  19. torpedoman

    torpedoman land of corrupt politicians Member

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    buy silver rounds and hold them io paid under 4 buck for a bunch years ago and have been adding all along and i'm ahead of the stock market on all of it.
     
  20. Blackfeather7

    Blackfeather7 Oregon Member

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