Over my 50+ years, I’ve had a love-hate relationship with silver. Never had the funds for gold so silver was the only option for precious metals(other than brass and lead). There have been times when I’ve purchased numerous ounces, held them, waited until they increased in value – then some financial emergency came up and sold them off. More recently I’ve been seriously considering significant economic issues fast approaching that will continue to decrease the value of our dollars – thus looking at silver as a means to retain buying power.
That’s how it’s supposed to work. I mean, inflation goes up – silver goes up. Right?
Inflation is at the highest rate in over 40 years and silver has crashed in price. Is this a buying opportunity? Possibly. If you are one that believes when the financial armageddon truly starts precious metals will jump up and provide a platform which to hold on to wealth – then right now is the time to buy.
The last several purchases I’ve made have been with MoneyMetals.com and eBay.
I’ve focussed on junk silver(pre-1965 dimes and quarters) as well as silver rounds. The above rounds are the popular “Don’t Tread on Me” variant. Right now running around $25 or so. I’ve got another 20 in my shopping cart.
I have no doubt the economy is going down the shitter over the next couple of years. Silver is a way to retain the purchasing power of my money. If silver continues to drop I’ll look at that as a buying opportunity.
Trigger pulled.
Rourke
I’ve been a gold / silver bug for a long time and beyond the metals, I have bought the miners too. Nothing makes sense in this world. I always considered my investments in metals as insurance against bad times. So far that has not been the way they are behaving. In any case I think everyone should hold some since we truly can’t know what we can expect to come our way.
I feel your pain CaptTurbo and agree with you 100%
Checked out Money Metals (BTW your Link above didn’t work) and have a question, shipping is $7.95, is there anyway to get around that? That was for two silver rounds.
Thanks Fred. I fixed the link. There are def advantages to buying in volume when it comes to shipping. I usually buy 20 rounds or coins at a time. eBay is another option. I just bought 5 rounds with free shipping.
Fred, check out Provident Metals and APMEX. I never buy less than 20 ounces at a time and it’s pretty easy to get to the free shipping level on my orders.
Good advice. I’ve ordered from APMEX a few times.
I like sd bullion. com they are a tiny bit less on the things i order and have free shipping on orders over 199.00
Thanks Deb!!
Thanks everyone.
Markets, all markets, go up and they go down. There are no exceptions. What we face in this country is the complete unraveling of not just our monetary system, but the social construct as well. Everyone sees it. Right now the dollar is fairly strong compared to many currencies globally. Many countries have borrowed in USD, and are behind the eight ball because it has appreciated. The Euro is almost at parity with the USD now. The disintegration of the European Union and elsewhere (secondary to sanctions and the green new deal bs) is sending their funds here which bolsters the dollar, plus we raised interest rates which attracts capital as well. But deficits matter in the end especially as the BRIC nations combine together to form their own basket of currencies which are essentially commodity based. And they created their own financial system after the US sanctions kicked Russia out of the SWIFT system. The US will be the last dirty shirt in the laundry to succumb. Inflation is rampant as we all know, and raising interest rates is not going to stop it because the inflation is caused by the broken supply chains (also contributes to job losses), it is not a traditional speculative boom which responds to such therapy. Expect interest rates at sometime in the future to reverse course, the interest rates cannot be sustained with the amount of debt on the books currently, eventually I foresee a devaluation of our dollar, and with it a loss of confidence in the government, even though that has arrived already, it will just be more so. That is when precious metals will do well. I think everyone here can see the day comes when your bank account is no longer accessible (keep some cash on hand) or it has been pilfered by our government to steady their books. We know its coming, just like all the other bs they are attempting to shovel upon us. And they wish to control us with digital currency, monitoring every transaction is their goal. Attached to our behavior and/social credit scores ala China. Tax you with a keystroke, stop you from purchasing whatever. It is the ultimate goal in subversion. Your physical assets will protect you from some of it. But also use your funds for essentials be it food, items of necessity, firearms, ammo, fuel, whatever, take care of those needs first. Don’t panic, be thoughtful and do not forget to assist others when possible because a lot of people are going to need some help. Better to have friends and allies than enemies and adversaries in our coming future. Oh, and say a prayer also.
Well said Ralph.
We have been buying silver for quite a while. We use CMI for precious metal spot prices and make our decisions based on that, among other things. Another way to get your hands on reasonably priced silver is by cultivating a relationship with somebody who deals in coins, bars, and bullion. My husband has been dealing with coins and silver for 30 years and with his “silver guy” for almost 20 of those years. You can get heads up for market happenings as well as maybe get a deal by buying so many of a coin if you have a “silver guy.”
All coins that are pre-1965 are not all alike Some have 90% silver, some more, some less. If you’re looking for bartering coins, get slugs or worn down coins. Something to remember is a regular ounce is not the same as a troy ounce, which is what precious metals in bars or bullion are sold as. An avoirdupois ounce (your regular ounce) equals 28.35 grams, whereas a troy ounce weighs 31.10 grams.
Buy a good coin book, cultivate a “silver guy,” and trust that if it seems too good to be true, it usually is.