I’ve mentioned before that I’ve had a love/hate relationship with precious metals. Never having the money for gold, silver has been my go-to. With all that is going on in the world and the economic challenges, I see over the next few years silver very well be a savior when it comes to retaining value in your hard-earned dollars. Before the comment section gets blown up “you can’t eat silver” and “my precious metals are lead and brass” – yup, 100% correct. We are not looking at silver for a complete grid-down, people are starving, end-of-the-world environment. No – silver could be key to retaining purchasing power on the way down to a complete collapse.
As I write this silver has dropped very close to the price I bought it last go around. I usually frequent Money Metals Exchange. I might grab another 20 rounds or maybe some junk silver.
Maybe.
Rourke
Has anyone had any experience with cryptocurrency and can you explain what it is ? Thanks Arlene
I must agree with John.For folks of modest means silver is the best bet in
these uncertain times.When things go really bad silver(in small denominations)will likely buy whatever you may need.
I’ve never understood why the pre-1964 US dimes,quarters,and half dollars
are called “Junk Silver”. They are in fact 90% silver and would be recognized
as such by most people.
In that silver has monetary value it also has numerous industrial applications mostly in the world of electronics and the medical field.
INMHO silver in fractional amounts such as pre-1964 US coins(No Nickels)
or 1oz.Eagles will be of the greatest utility when we are in a jam.
Precious metals come into play after you’ve secured your food,water.shelter,
security,and medical needs.
I am not an expert and I didn’t sleep at a Holiday Inn.I’m positive that
silver is a bargain right now. Insane premiums non with standing.
Are you buying bars or coins?
It always stumps me to watch gold and silver go down in price as my stock portfolio gets decimated. Never the less, I stick with my battle plan of beans, bullets, and bullion as we enter this communist takedown of the once great USA.
My Go To: https://www.apmex.com/category/25830/90-silver-coins-rolls-bags-all
for the wealthy … assets are about wealth preservation … land being the ultimate… anything thing that retains value in a speculative economy propped up by fiat currency. Precious metals are one aspect of that. processed (not rented).
At one point they (the US government) outlawed gold ownership and it was melted and cast into not coin -ish objects .. and not bullion to avoid confiscation. Yes it happened.. The EO stayed in effect for many years.
It could happen again as could buy-ins.. only now with the stroke of a key all at once.
“Junk Silver” has one advantage.. It looks like you always had it… a small compensation. It also looks like something familiar.
IF I were more.. adventurous.. I would take every one or zero not absolutely necessary to exist and turn them into metal, while I still have full access.
I’ll continue to hedge my bets.
GG58
@GG58,
Yes, the government can outlaw gold again but the circumstances are quite different today vs 1933. Then, gold coins were a circulating medium, ie they were everywhere. That clearly is no longer the case. Most folks today wouldn’t recognize real gold coins if they were bludgeoned in the head with them. The only gold they regularly see are perhaps wedding rings, but even that is a stretch these days. The impact of outlawing gold would be minimal at best. Recall seeing Mark Dice of YT fame offering 1 oz gold eagle vs a big chocolate bar for $5 to folks in SoCal. Invariably all declined the offer or took the chocolate. I think today the use of coins of any type are minimal vs credit cards or phone payment. Shit, most can’t figure out change in a transaction without the cash register telling them how much to hand out. And to those who champion crypto currency just wait until the government outlaws them, and they require a functioning electrical grid also. Governments do not like nor tolerate competition. It will all be rolled into some ‘safe government account’ along with your confiscated retirement account. After the big blowoff comes in the stock market, gov’t financial pundits will propose taking everyones assets for ‘safekeeping’ so they aren’t lost in the stock markets casino again. It will be for your own good of course, but your bottom line total of assets will be ‘attenuated’ to reflect the new value of the ‘dollar’. And don’t expect to be able to spend them on what you want, all will be controlled by official keyboard clicks, only on ‘approved’ or rationed items or socially acceptable needs or services. Who knows, maybe you will be required to have vaccination status approval before you can even avail yourself of such services. Silver may offer some modicum of protection of wealth, although I would stick to ‘junk’ silver or silver eagles. They are readily available, protected by the gov’t from counterfeiting as it is legal tender. Bars and silver rounds are less well known as to origin and legitimacy of quality and may be subject to downgrading or with bars, might require mandatory assays for detection of counterfeits etc. Stick to the tried and true. It will be a crap shoot for sure no matter what the outcome is. Better to concentrate on land, food, water, you know, the essentials that really matter, and of course focus on people too. In the end, human assets are vital for society to function. Ok, rant over. Have a great day.
Excellent commentary & advice Ralph…
Arlene:The best way to explain Bitcoin is that you can’t explain Bitcoin.
It is the chips that are used in a fools game.
Bitcoin will eventually go the way of the Edsel.
We have been collecting “junk silver” for years. You have to know what you are doing when it comes to buying scrap/junk silver. If you can find one, get yourself a “grey sheet.” It is what buyers of coins use to decide how much the silver is worth. Another resource is called “The Official Red Book.” A lot of value depends on how many coins were minted in a certain year, the condition of the coin, and what the spot price of silver is at any given time. There are several reputable sites, we use CMI. Mostly we just watch if it goes up or down and then decide whether to buy coins or not. Don’t be fooled by the ads on TV selling silver coins. What you get will be all the beat-up coins and the really common dates. Bitcoin or cryptocurrency may be all that and a bag of chips right now, but when the grid goes down, you have no money. We have taken to keeping enough money in our bank at any time to pay the bills that are every month same amounts. That way, the bank can’t freeze your money if it feels like you are taking too much out at once.
MI+Patriot::Every dollar from our pensions is out of the bank within 12hrs.
from the time that it is posted. We leave $25.00 to keep the account open,
the rest comes home to the safe. When the bills arrive we go back to the
bank and buy Cashiers Checks which are free at most banks.
Sure doing it that way is inconvenient but I’m in controll of my money the
majority of the time.
We chuckle when we imagine what the people that open our bill must say.
“Who are these idiots that keep sending these Cashiers Check thingys.
I know that you know but sometimes I can’t help my self.
“Two is one,and one is none”.