supplementing my AG

norcalsteve

norcalsteve

Hero Member
Sep 30, 2013
652
614
Petaluma, CA
Detector(s) used
36" Bazooka Prospector, Gold-n-Sand hand dredge
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norcalsteve said:
I know many of you are also buying silver coins with the price of AG so low.
What do you think is the better buy if you had $1000.00 to invest.
V.G. Morgan @ $27.00
V.G. Peace. @ $23.00
Misc 90 percent @$13.5 x face
B.U. Eagles @ $20.00
Your input would be appreciated.
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None of the above. Premiums are all too high!
 

I buy generics from provident metals.com which you can occasionally grab for about .59 over spot.

Many warn these are a hard sell but I have never had an issue with provident buying back from me on an upswing.
 

Buy what you enjoy looking at. If you buy for bullion only, buy the cheapest you can find.
 

Local_coins said:
Buy what you enjoy looking at. If you buy for bullion only, buy the cheapest you can find.
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I think im going with half cheap rounds and half 90 percent dimes and quarters since I don't crh them.
 

Go with the small 90% dem coins; easier to convert when SHTF.
 

fistfulladirt said:
Why pay more now, when you can get them much cheaper later?
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Because they're not going to be cheap much longer. Kitco experts saying look out for $5000 per ounce gold if QE happens again, which is likely. Russia has added tons of gold to their vaults while unloading US dollars. Can't keep putting out the fire by throwing gas on it!
 

enamel7 said:
Because they're not going to be cheap much longer. Kitco experts saying look out for $5000 per ounce gold if QE happens again, which is likely. Russia has added tons of gold to their vaults while unloading US dollars. Can't keep putting out the fire by throwing gas on it!
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Yes, and Kitco is in business to sell gold and silver. So, why aren't they stockpiling? Look out for QE to infinity. How long can this farce drag on? Perhaps for a looooooooooooong time.
 

Maybe they are stockpiling. The US will lose the status of having the preferred currency in the next few years. Fiat or otherwise, if you keep flooding the world with monopoly money it can't continue to retain any value. Banks used to raise interest rates as a hedge against inflation. No longer. All the Fed wants to do is flood the market. This won't go on for infinity. You'll see other countries begin to back their currency with gold. The US of course will be one of the last to do so, out of stubbornness and the fact no one will take the dollar. After all, it is just a promissary note.
 

enamel7 said:
...The US will lose the status of having the preferred currency in the next few years...
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It will happen, but not likely so soon. There will be warning signs and acts of desperation (even bigger than the current "free" money acts of desperation).
PMs will serve a purpose in the aforemath and aftermath of the dollar demise, but will be most useful in the heat of the moment - as it occurs.

enamel7 said:
... it [dollar] is just a promissary note ...
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This is what should worry us. Almost all aspects of your "wealth" are just a promise (bank account, 401k, IRA, SSI, etc).

I do not trust our country to be any more credible about keeping monetary promises than they are about "keeping your doctor" type promises. They lie, cheat, torture, and steal when the stakes are relatively low. I feel tremendous sadness thinking about what they would be capable of when the stakes are high.
 

The value of the dollar is based on the market exchange in comparison to other currencies. Its value is not tied to anything else but that since it is no longer tied to any precious metals. Also people may worry about the printing of money, the FED has ended their quantitative easing program one to two months ago. The value of the dollar is also in competition with other currencies and which one most people want to own. So far, Japan and EU have engaged in quantitative easing as well so as they say, the dollar remains the strongest amongst in comparison to other currencies.

As much as people want to whine about it and ponder when the dollar will crash, its value is controlled by market forces (ie giant banks). Just as the gold/silver prices have fallen, as much as people who bought into the Ron Paul gold/silver hype, average Joe's have ZERO influence over this since they do not trade over the futures markets. Not only are average Joe's put off to even buying stocks since the recession (since this current stock market rally is the most unloved since average citizens did not participate), they will be even less willing to trade futures for currencies, pm's, or commodities.

The situation with the national debt is another issue and is troublesome due to interest rates compounding itself. It's at a point where it's not able to be paid off by even high taxing everyone. There is only one way out, that is to print money. I don't mean quantitative easing either. Printing by the Federal Reserve is not the same as print by the U.S. government. Keep in mind that the FED reserve is a collection of private banks that act as one that is led by a government appointed chairman. They loan the government money to operate for an interest. The banks actually have been benefiting from this for a long time. The only way out is for the U.S. government to just print money to pay off parts of the debt directly and pay it to the FED reserve. People then will worry that this may cause inflation but it will not as long as the money supply is controlled. This has happened before in this country's past as well as other nations. Printing money yet limiting the way it gets out to the public will not cause inflation. This is the only way I see as an out from the debt. The FED reserve bank being a collection of private banks who profit from the situation has really increased the debt due to interest rates on all money borrowed for gov. spending. Kind of like a middleman sucking out money just like for profit insurance companies that make health care actually more expense.
 

LooseChange said:
And, the $1,000,000,000 (one trillion dollar) coin is born.
Think it will be high grade cupro-nickel? Or will it be cladded steel?
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Might as well be the highest price metal element known on earth since it's a trillion whatever that may be. Unfortunately, even creating a one trillion dollar coin will pay for interest only.
 

fistfulladirt said:
Ahhhh, you're missing a few zeros there LC - that's one billion. That's still a lot of gumballs Popeye.
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I'm thinking ahead for the error hunters out there :)

btw, thanks for the gumball quote. A good friend of mine loves that reference and uses it incessantly. I never get tired of it though.
 

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