Gold and silver prices are down

[enbloc]

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[Upland]

I agree it is important to build a local relationship. My guys main business is a antique shop. Half the time I go in I come out with something I didn't know I couldn't live without.

 

[Win]

The prospectors are just my personal favorite design and Engelhard is a well respected company so I tend to buy those when the price is right. There are other designs and manufacturers that I like that I will also buy when the price is right. I regard these types of silver coins as investment silver. Any store or online precious metals supplier will recognize and buy these coins.

If someone is solely looking for shit-hits-the-fan barter silver ASEs are the best choice. They would be the mostly widely recognized and accepted form of silver barter among private individuals. I buy ASEs for this purpose but ASE comprise only about 1/3 of my silver.

 

[Steve Marshall]

Post SHTF, US Government minted silver and gold will have more value than others.

 

[enbloc]

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[mclina]

What do you think these will get you during an apocalypse?

http://www.ebay.com/itm/Lot-of-10-E...702224?hash=item1ec1ef4490:g:3DUAAOSw3v5Yq3Mp

 

[enbloc]

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[55_grain]

The prospectors are just my personal favorite design and Engelhard is a well respected company so I tend to buy those when the price is right. There are other designs and manufacturers that I like that I will also buy when the price is right. I regard these types of silver coins as investment silver. Any store or online precious metals supplier will recognize and buy these coins.

If someone is solely looking for shit-hits-the-fan barter silver ASEs are the best choice. They would be the mostly widely recognized and accepted form of silver barter among private individuals. I buy ASEs for this purpose but ASE comprise only about 1/3 of my silver.

I agree, the Prospectors are the most detailed generic rounds by far. They're really nice looking!

 

[enbloc]

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[55_grain]

I wonder how spot will be decided on in a TEOTWAWKI situation?

Perhaps more importantly, who will be accepting ASE's as a cash-equivalent under those conditions?

 

[hikerlt]

These would be great for Christmas Gifts to my Libtard Daughter, Nieces and Nephews.......have to remember to have the Camera ready for when they unwrap the gift to catch the priceless expression on their faces....LOL

What do you think these will get you during an apocalypse?

http://www.ebay.com/itm/Lot-of-10-E...702224?hash=item1ec1ef4490:g:3DUAAOSw3v5Yq3Mp

 

[Win]

Perhaps more importantly, who will be accepting ASE's as a cash-equivalent under those conditions?

I will be accepting ASEs under those conditions . My personal opinion is that nearly all people would favor bullion over currency in a SHTF or TEOTWAWKI scenario.

That said, I think the more likely scenario, a step down from a SHTF or TEOTWAWKI scenario, is a currency crisis. If the people as a whole lose faith in currency, if wealth gets remeasured with precious metals being the money instead of currencies you'd see a dramatic gain in the buying power of precious metals.

 

[enbloc]

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[55_grain]

I will be accepting ASEs under those conditions . My personal opinion is that nearly all people would favor bullion over currency in a SHTF or TEOTWAWKI scenario.

That said, I think the more likely scenario, a step down from a SHTF or TEOTWAWKI scenario, is a currency crisis. If the people as a whole lose faith in currency, if wealth gets remeasured with precious metals being the money instead of currencies you'd see a dramatic gain in the buying power of precious metals.

That's basically inflation. And I agree with you on PM's gaining buying power relative to paper dollars under those conditions.

I will also be accepting generic silver. I know how to cull the fakes...

Metal is metal is metal. Carry on.

 

[Billsail]

That's basically inflation. And I agree with you on PM's gaining buying power relative to paper dollars under those conditions.

Metal is metal is metal. Carry on.

Silver test kits are not expensive, but will only test near the surface, and not deep into the core of the object.

 

[cockpitbob]

Silver test kits are not expensive, but will only test near the surface, and not deep into the core of the object.

You're right about the test kits. If the USD becomes worthless and metals become common currency we'll all have our own test kits. Most silver testing uses the same acid as in this $5.50 kit from Amazon. It won't tell you the exact purity, but you can be confident it's "mostly" silver and I can't imaging there being a problem of people casting rounds and bars from 70% silver.
Drill a hole with a small drill bit and test the chips from deep inside.

 

[enbloc]

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[Win]

My sense is that you're undervaluing what gold and silver would be worth in a currency crisis. Even now you can buy $18 worth of food for an ounce of silver. If there isn't currency, or currency is worthless, the purchasing power of gold and silver could be astronomical.

 

[cockpitbob]

My sense is that you're undervaluing what gold and silver would be worth in a currency crisis. Even now you can buy $18 worth of food for an ounce of silver. If there isn't currency, or currency is worthless, the purchasing power of gold and silver could be astronomical.

In the '80s I worked with a guy that got himself and family out of N Vietnam. It took a lot of bribing, all of which was done with gold.

 

[Rob Boudrie]

If things get that bad, all you'll need is these:

It's how you make change for a dollar. Oh, and to check if the round you want to trade for a dozen home-raised eggs is real...

This is where "pieces of eight" came from.

 

[richc]

Money is essentially a store of wealth to enable more ubiquitous commerce. Should paper currencies lose their value historically gold are the world currencies of choice. Other precious metals too, but primarily gold.

If paper currencies lose faith and trust the demand for gold will increase, increasing it's perceived value. But... what would you take in return for gold? Certainly not a currency that's on the way out. That's one of the interesting conundrums.

When you trade gold for something else, you want that something else to be a store of value too, or to add important value to your life and security. Food, medicine and weapons come to mind. So gold really becomes a replacement for currency in commerce.

My sense is that you're undervaluing what gold and silver would be worth in a currency crisis. Even now you can buy $18 worth of food for an ounce of silver. If there isn't currency, or currency is worthless, the purchasing power of gold and silver could be astronomical.

 

[Rob Boudrie]

In the '80s I worked with a guy that got himself and family out of N Vietnam. It took a lot of bribing, all of which was done with gold.

The soldiers on the ill-fated Carter era raid on Iran to free the embassy hostages reportedly carried gold for use in bribes.

 

[Varmint]

If you have Ebay bucks:
$476 for 25 Brittania silver coins.
http://www.ebay.com/itm/2016-Great-...73:6000000123|5374:Best+Gold+and+Silver+Deals

$1236 for gold Buffalo.
http://www.ebay.com/itm/2017-American-Gold-Buffalo-1-OZ-50-UNC-RAW-/302193401518?hash=item465c215eae

 

[sacksjacked]

Apmex Sweepstakes for (1) Monster box of 2017 Silver Maples.

No purchase necessary. Sign up, and good luck!!!


linky link

 

[Varmint]

Apmex Sweepstakes for (1) Monster box of 2017 Silver Maples.

No purchase necessary. Sign up, and good luck!!!


linky link

Sweet, I entered, thanks! That'd be pretty awesome!

 

[sacksjacked]

Toss us all PM forum regulars a few if you win. Dont be greedy.

 

[Varmint]

Toss us all PM forum regulars a few if you win. Dont be greedy.

You got a deal!

 

[CoastieRon]

I'm in, I'll Karma if I win LOL

 

[enbloc]

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[Win]

Yeah these metals prices are so low and the stock market prices so high that I've cut my 401K contribution and gone exclusively to metals until something changes.