Is Silver next?

[Mij]

I was born in February.

…of 1982.

I’m here to soak up knowledge and you seem to know your stuff.

I can vouch for @Tyler-The-Piker though and I honestly don’t think he was trying to start a pissing contest.

Now whether or not ANYONE on INGO would WANT ME to vouch for them is a TOTALLY different story

I quit paying cash for metal a couple decades ago. I watch the trading ratios and when I can trade Ag+premium for an ounce of gold, I do that. Now when the ratios swing the other direction I trade back to silver thereby increasing my oz’s of silver with no out of pocket costs. Useing this method I have increased my stack of both metals without any money out of pocket. It takes years, decades, and you should not look at pm’s as an investment, it’s not. Pm’s are a storage of wealth. My personal current numbers are ~55:1 silver to gold. ~95:1 gold to silver. Always keeping some of both for diversification. If you plan to spend any investment money in your lifetime there are many better investment vehicles. Good luck.

It’s good to speak up for your compatriot, but this is the second time he has done the same thing. Uncalled for snarky comments with no knowledge of what is already in the thread. I’m not one to argue either, I also do not wish to start a ******* contest. Again best of luck.

 

[DoggyDaddy]

What are opinions on this? I've never seen it offered before.

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[Mij]

What are opinions on this? I've never seen it offered before.

Buy 1 Oz Gold Royal Canadian Mint Grain/Shot (.99999+ Fine) | Monument Metals

Buy 1 Oz Gold Royal Canadian Mint Grain/Shot (.9999+ Fine) from Monument Metals, an industry leader in gold bars. Free shipping on all orders of $199 or more!

monumentmetals.com

There are a few of these products on the market. One a credit card type that is indented into 1/10 oz. You break one off to pay for goods and services. The only problem I could fathom is purity of product. The chance for counterfeiting would exist such as 18 carrot or less as opposed to pure 24 carrot. (.999) I didn’t open the link.

 

[DoggyDaddy]

There are a few of these products on the market. One a credit card type that is indented into 1/10 oz. You break one off to pay for goods and services. The only problem I could fathom is purity of product. The chance for counterfeiting would exist such as 18 carrot or less as opposed to pure 24 carrot. (.999) I didn’t open the link.

This is supposedly .9999 from the Royal Canadian Mint and with a purity guarantee. One possible "pro" I can see is using it in the future for small purchases, if someone would take it. Of course you'd have to weigh it out, much like in the old Gold Rush days.



At $1866.39/oz., it seems like a good deal.

 

[76Too]

I quit paying cash for metal a couple decades ago. I watch the trading ratios and when I can trade Ag+premium for an ounce of gold, I do that. Now when the ratios swing the other direction I trade back to silver thereby increasing my oz’s of silver with no out of pocket costs. Useing this method I have increased my stack of both metals without any money out of pocket. It takes years, decades, and you should not look at pm’s as an investment, it’s not. Pm’s are a storage of wealth. My personal current numbers are ~55:1 silver to gold. ~95:1 gold to silver. Always keeping some of both for diversification. If you plan to spend any investment money in your lifetime there are many better investment vehicles. Good luck.

It’s good to speak up for your compatriot, but this is the second time he has done the same thing. Uncalled for snarky comments with no knowledge of what is already in the thread. I’m not one to argue either, I also do not wish to start a ******* contest. Again best of luck.

Silver and gold are the best way for me to ‘save’ and forget about it. I don’t even look at it as ‘money’.

Someday if I need it to buy food or trade for something useful when paper money burns, it will have served its purpose. I just hope to have enough to keep my head above water until if/when ‘normalcy’ returns.

I’m 40 years old and have about 10% of what I hold in 401k and cash combined in PMs (about 60/40 gold/silver ratio in that short ‘stack’).

I didn’t start saving for retirement until recently because I was a dummy, but now I look at all the money lost in the stock market recently and don’t feel so bad.

I bought guns instead, lol. Who knows, maybe that will work out ok in the long run, or maybe it won’t?

 

[DoggyDaddy]

Silver and gold are the best way for me to ‘save’ and forget about it. I don’t even look at it as ‘money’.

Someday if I need it to buy food or trade for something useful when paper money burns, it will have served its purpose. I just hope to have enough to keep my head above water until if/when ‘normalcy’ returns.

I’m 40 years old and have about 10% of what I hold in 401k and cash combined in PMs (about 60/40 gold/silver ratio in that short ‘stack’).

I didn’t start saving for retirement until recently because I was a dummy, but now I look at all the money lost in the stock market recently and don’t feel so bad.

I bought guns instead, lol. Who knows, maybe that will work out ok in the long run, or maybe it won’t?

I only recently got into PMs (started in February of 2021) and much like you, I'm looking at it as a savings/hedge against inflation and not for speculation. I've been fairly aggressive, but I've also been investing in lead and brass for considerably longer and I'm certain that that investment has eclipsed the value of my PMs.

 

[snapping turtle]

The Grateful Dead said it best

“I don’t know but I’ve been told
It hard to swim with the weight of gold”
On the other hand I’ve heard it said
It just as hard with the weight of lead”

I find that silver at spot or plus premium trades well for collectible guns. The seller knows his firearm should hold with inflation if he sells it for cash then the cash in the bank becomes worth less. Often if he is not selling to fund a purchase or to pay bills he will price it higher in cash than he will take in silver. Silver holds that value over cash. Often trading silver I bought lower priced for a collector gun who the buyer prices higher for cash than they would accept in silver.

Stack it when low priced. Trade it off when higher to a buyer who then holds it into the future.

I think I am price averaged 18.20 per ounce currently what 21 an ounce but not long ago 28 an ounce. Figuring the ounces I have just have to wait for a mint sig p210 or korth.

 

[snorko]

This is supposedly .9999 from the Royal Canadian Mint and with a purity guarantee. One possible "pro" I can see is using it in the future for small purchases, if someone would take it. Of course you'd have to weigh it out, much like in the old Gold Rush days.

At $1866.39/oz., it seems like a good deal.

I like that it comes in a heat sealed container marked with purity and weight of the contents. However, once it is opened, that assuredness goes away. It is a good deal but, like older lesser known coins that aren't marked, it will be questioned.

Heck, I have a couple Austrian/Hungarian 100 corrona coins that I plan to sell when prices come up some. I am ocd about having content and purity on the coin or bar and it bothers me needlessly.

 

[DoggyDaddy]

I like that it comes in a heat sealed container marked with purity and weight of the contents. However, once it is opened, that assuredness goes away. It is a good deal but, like older lesser known coins that aren't marked, it will be questioned.

Heck, I have a couple Austrian/Hungarian 100 corrona coins that I plan to sell when prices come up some. I am ocd about having content and purity on the coin or bar and it bothers me needlessly.

Yeah, I thought about that too. But really, do any of us know what the future will look like when it comes to using PMs for actual trade? I think we're kind of in uncharted waters. There is a precedent (albeit a very old one) for trading bits of gold for goods and services. That system really isn't in place anymore.

Let's say you want to purchase something that costs 20 bucks. What is the seller going to make change with if you give him a gold coin worth $2K?

 

[Mij]

I only recently got into PMs (started in February of 2021) and much like you, I'm looking at it as a savings/hedge against inflation and not for speculation. I've been fairly aggressive, but I've also been investing in lead and brass for considerably longer and I'm certain that that investment has eclipsed the value of my PMs.

DD, as I’ve said before fiat currency is (in my opinion only) a bad vehicle for savings, things with an intrinsic value are better hedges against inflation in my opinion. Some examples I’ve given are land, livestock, guns and ammo, pm’s, things of that nature. And as has been seen recently even toilet paper, baby formula, meds. Gasoline, Diesel fuel. (I and my wife are still using gas that we purchased at < 3.00 per gal.) And one of my faves bourbon, or liquor. (Please keep in mind I feel fiat currency is a measure of debt rather than a measure of wealth.) But these things are probably already on most folks short list that read this sub-forum on INGO. As always keep your head on a swivel and best of luck to you and yours.

 

[Mij]

The Grateful Dead said it best

“I don’t know but I’ve been told
It hard to swim with the weight of gold”
On the other hand I’ve heard it said
It just as hard with the weight of lead”

I find that silver at spot or plus premium trades well for collectible guns. The seller knows his firearm should hold with inflation if he sells it for cash then the cash in the bank becomes worth less. Often if he is not selling to fund a purchase or to pay bills he will price it higher in cash than he will take in silver. Silver holds that value over cash. Often trading silver I bought lower priced for a collector gun who the buyer prices higher for cash than they would accept in silver.

Stack it when low priced. Trade it off when higher to a buyer who then holds it into the future.

I think I am price averaged 18.20 per ounce currently what 21 an ounce but not long ago 28 an ounce. Figuring the ounces I have just have to wait for a mint sig p210 or korth.

Not going to say anything important about selling beef, but I think you get it.

 

[DoggyDaddy]

DD, as I’ve said before fiat currency is (in my opinion only) a bad vehicle for savings, things with an intrinsic value are better hedges against inflation in my opinion. Some examples I’ve given are land, livestock, guns and ammo, pm’s, things of that nature. And as has been seen recently even toilet paper, baby formula, meds. Gasoline, Diesel fuel. (I and my wife are still using gas that we purchased at < 3.00 per gal.) And one of my faves bourbon, or liquor. (Please keep in mind I feel fiat currency is a measure of debt rather than a measure of wealth.) But these things are probably already on most folks short list that read this sub-forum on INGO. As always keep your head on a swivel and best of luck to you and yours.

I think we share the same views. I've got more than ample supplies of guns and ammo, and am building my PM supply. Still got my Covid TP stash out in the garage, and I recently bought a bidet attachment for my toilet, so I've cut my TP usage substantially!

 

[snorko]

Yeah, I thought about that too. But really, do any of us know what the future will look like when it comes to using PMs for actual trade? I think we're kind of in uncharted waters. There is a precedent (albeit a very old one) for trading bits of gold for goods and services. That system really isn't in place anymore.

Let's say you want to purchase something that costs 20 bucks. What is the seller going to make change with if you give him a gold coin worth $2K?

Assuming that scenario, then it's the old saw of "gold for saving, silver for barter". If one has gold, then yes, one should have some fractional gold. But change or barter is with silver.

In the to-come times, we can buy some fool's Corvette for a 1oz gold Eagle then buy gas with silver.

 

[DoggyDaddy]

Assuming that scenario, then it's the old saw of "gold for saving, silver for barter". If one has gold, then yes, one should have some fractional gold. But change or barter is with silver.

In the to-come times, we can buy some fool's Corvette for a 1oz gold Eagle then buy gas with silver.

That makes sense. I look at ammo as barter currency too. And if Don's Guns up here in Indy could sell baggies of 10 rounds of "fotay" in his shop, there's already a precedent.

 

[DoggyDaddy]

Dangit. Guess yesterday was the day to buy. Both gold and silver are going back up today.

 

[ancjr]

Volatility is the new normal.

 

[76Too]

Dangit. Guess yesterday was the day to buy. Both gold and silver are going back up today.

Yup…figures. I had to wait until today to buy until some things cleared my checking account.

Meh…just be patient. I don’t think they’re done manipulating PM’s just yet.

 

[spencer rifle]

Yeah, I thought about that too. But really, do any of us know what the future will look like when it comes to using PMs for actual trade? I think we're kind of in uncharted waters. There is a precedent (albeit a very old one) for trading bits of gold for goods and services. That system really isn't in place anymore.

Let's say you want to purchase something that costs 20 bucks. What is the seller going to make change with if you give him a gold coin worth $2K?

Not so old a precedent after all. Still being done today:
https://www.bloomberg.com/news/arti...-off-flakes-of-gold-to-pay-for-meals-haircuts

 

[snorko]

I've mentioned Ferfal's work here in the past. Link to a previous INGO thread: https://www.indianagunowners.com/threads/ferfals-lessons-of-shtf-in-argentina-true-story.45132/

He mentions in his book people bartering with PMs including the use of 18k gold chains as smaller units. Cut to needed length.

 

[KittySlayer]

Not so old a precedent after all. Still being done today...

So have Ukrainians started bartering in PM's yet or is the country still "stable" enough? What about refugees fleeing to other countries? What is the preferred currency for bribes?

• Euros
• US Dollars
• Silver/Gold