Myers Depot Metal Detectors

Buying Silver Bullion

luked

luked

Senior Member
Joined
Jan 3, 2011
Messages
381
so I have been thinking about this for some time.
I am thinking about each week buying some silver bullion just to keep and to hoard it away for the long term.
does anyone else do this. and if so is there a particular place you buy bullion?
and also I have found some sites that does sell it online but there are a lot of different choices. does it matter to you when buying which it is as far as the face of it?
 
Lots of people do it. It's a gamble, if you can buy low and sell high you can make money. I don't think its worth hoarding long term. Silver is about the same price today that it was 10 years ago, 50 years ago, or a 100 years ago. 1980 it was over 40 bucks an ounce today its around 16. It's low enough now that you probably wouldn't lose a bunch of money and could even make some. I'd bet you could make more hoarding aluminum cans and copper wire.
 
luked said:
so I have been thinking about this for some time........
Click to expand...

Scooterjim said:
Lots of people do it. It's a gamble, if you can buy low and sell high you can make money. I don't think its worth hoarding long term.....
Click to expand...

For the reasons Scooterjim mentions, many people who "hoard" aren't all that interested in the investment value in comparison to something like the stock market or real estate. They want to own something of intrinsic value should the above investments ever be practically or literally worthless. That's also one reason people buy silver coins as well as or instead of bars. If you only need to trade for a week's supply of bread then you have smaller denominations and people would have more trust in a familiar coin. But, if you want to buy access to a clean water supply, then you might need some bars. That's the theory anyway.

With that said, if you're buying a little over time, over a long period of time, then you're going to average out the highs and lows and might end up with a cost basis that is lower than the total value. The opposite would be loading up on gold right now and quite possibly sitting on the same value (or less) for the rest of your days.
 
The highest I remember silver was around $50/oz, when those brothers (the Hunts?) were trying to corner the market, but since there was more silver than they could afford, and their bills came due, it didn't end well.

I definitely prefer it to paper, though.

-- Tom
 
Scooterjim said:
Lots of people do it. It's a gamble, if you can buy low and sell high you can make money. I don't think its worth hoarding long term. Silver is about the same price today that it was 10 years ago, 50 years ago, or a 100 years ago. 1980 it was over 40 bucks an ounce today its around 16. It's low enough now that you probably wouldn't lose a bunch of money and could even make some. I'd bet you could make more hoarding aluminum cans and copper wire.
Click to expand...
I'd have to disagree with you that silver is the same price today as it was 50 or 100 years ago. Back in the early 60's it was just over $1 per ounce. When it increased to something like $1.29 per ounce is when the government eliminated 90% silver coins and started minting clad coins.
 
I buy silver and gold on a regular basis. You have to be prepared to hold it for awhile, possibly many years, before you can sell it at a profit. I buy all my precious metal at coin shows because that's where you can get the best deals.
 
diggin4clad said:
I'd have to disagree with you that silver is the same price today as it was 50 or 100 years ago. Back in the early 60's it was just over $1 per ounce. When it increased to something like $1.29 per ounce is when the government eliminated 90% silver coins and started minting clad coins.
Click to expand...

You are right. I pulled up a 100 year chart that was adjusted for inflation. But it still shows silver hasn't done much more than keep up with inflation. That's not a bad thing there is money to be made in silver and it is a hedge against inflation, but no one knows where the price is going to be in 5,10, or 20 years. I buy a few silver coins for the wife every Christmas from the U.S. Mint. I think this years it was about 3 times melt value. The wife enjoys them and I'm glad that they will always have some kind of value, it's either that or a bird feeder and the bird feeder will be worthless in no time. Maybe a limited edition Apollo 11 silver dollar will keep some collector value, but I don't think of it as an investment, it's more of a hobby that won't lose all of value and could even go up.
 
To keep the dollar as king, precious metals prices will be manipulated from here on.
For instance, gold is hedged at least 100:1 paper contracts VS metal. Those paper shares are occasionally dumped on the market to suppress the price. This has been proven and central banks fined, but it continues to no end. The same with silver.

Buy PM’s for the love. Don’t consider them an investment (even though gold beat the stock market this year with a 21% gain).
 
The "official" price of silver that the US government used in their coinage was for many years, $1.29/oz. I think that's what the weight of silver in US pre-1964 coinage (with one exception) was based on. The exception was the war nickels, which if I recall correctly, ended up having about 7 cents worth of silver in it. I may be misremembering, or maybe I miscalculated all those years ago, but I think that was the situation.

I think there were various adjustments to this over the years in the 1850's and 1870's, but nothing after that that I know of.

-- Tom
 
If I was looking for any investment like that I would not just buy bullion, i would buy high grade coins that have been graded by one of the 2 big grading companies. The numismatic value will be there even if silver drops off a cliff...
 
zeemang said:
If I was looking for any investment like that I would not just buy bullion, i would buy high grade coins that have been graded by one of the 2 big grading companies. The numismatic value will be there even if silver drops off a cliff...
Click to expand...
The only problem with graded coins is that the buyback (if you can find a buyer) is a much smaller percentage of retail than the buyback of bullion.
 
Graded coins may seem the way to go, but in a freefall situation, how do you go about finding a buyer for your 1754 mint state Spanish reale? Or any other high grade coin? In a real collapse, coins will not be the medium of trade...guns and bullets will be. It may start with silver buying food and essentials, but when that seller gets hungry, he won't take anything he cannot eat or use to gather food with. That's why KT buys no rare coins, but searches rolls, and occasionally purchases common US silver coins. Get them as cheap as you can, get as many as you can, and hold them until you make money on them! Or need them to purchase food to survive! A good motto to hoard by! :laughing::laughing:
 
Along the lines of what King Totsalot described, A guy I know takes his clad and other findings and buys 'scrap silver' coins with it.....BF's, Walkers, Mercs, Standers.....

He shys away from Rosies and Washingtons..He dont go for anything of Numismatic value for the reasons KT mentioned.....Just common date nice coins that wont be ever be suspect as counterfeit and are obviously genuine...

He also hunts for and buys plain gold bands/chains 14k and higher...His reasoning is, a guy can carry and sell Gold bands/chains a lot easier than a gold coin that may be suspect....

This guy figures a 4gr 14k ring at the very least is worth $100 melt and may get him a premium of nearly $50+ to a buyer..He also knows every little silver ring he finds is worth at least a $10 bill to about any lady or girl out there, no matter what its weight or melt value...The girls will pay!

He also keeps and sells junk tung/SS/cobalt rings for to trade or sell as the opportunity presents itself......the damned guy got $60 for a nice looking tungsten ring a few years back!...

So yeah...thats this one guys strategy that may bear some consideration as you stack...Its damn hard to sell an 1800's Morgan silver dollar to some dope off the street and get $20! Forget about trying to 'street sell' a gold coin to anybody! Let alone Numismatics!

...You can sell/trade two little 925 silver rings to the girl behind the counter at the StopNRob for a tank of gas all day long!...So the guy I knows says the stupid little jewelry items are by far the easiest and most value gaining items for survival...be it gold, silver, SS, Tungsten, cobalt...it dont matter...

In a bug out situation, the guy can wear a lot of rings and chains!..its tough to run and jump a border trying to carry rolls of bullion or coins up in the prison wallet..
 
The smartest Investment guy I know, instead of following the the traditionally accepted 401k or stocksNbonds or Beaniebabies or Bitcoins.....

He invests in cases (144) of Bic Lighters and a box of blue plastic tarps nearly every week! ...He also buys a gross of simple lock back folding knives!...He has a diverse portfolio!....Besides the tarps and lighters and knives, he has also amassed a stock pile of pellet rifles, cases of toilet paper, small bottles of whiskey, bows and arrows, zip ties even!...

I axed him about this strategy and he said: "You know how hard it is for a Human to survive on this Planet? How hard it is to start a fire without a lighter?"

He Said during TEOTWAWKI, a guy would gladly give him a key date Morgan for a Bic lighter, Probably cough up a Seated half for a blue tarp, probably hand over a Half Eagle for a knife, a Double Eagle for a pellet rifle and a few rolls of buttwipe...throw in the zip ties gratis...

He dont give one diddly damn about buying coins now!..He Said, during the right weather situation, he can trade a pint of Kesslers and a Bic lighter for a Monster box!! He certainly has a point! It IS hard to start a fire...

Even if he is 100% wrong, you can never have enough lighters or tarps or zip ties or buttwipe or whiskey around the place! :laughing:
 
Mud-puppy said:
The smartest Investment guy I know, instead of following the the traditionally accepted 401k or stocksNbonds or Beaniebabies or Bitcoins.....

He invests in cases (144) of Bic Lighters and a box of blue plastic tarps nearly every week! ...He also buys a gross of simple lock back folding knives!...He has a diverse portfolio!....Besides the tarps and lighters and knives, he has also amassed a stock pile of pellet rifles, cases of toilet paper, small bottles of whiskey, bows and arrows, zip ties even!...

I axed him about this strategy and he said: "You know how hard it is for a Human to survive on this Planet? How hard it is to start a fire without a lighter?"

He Said during TEOTWAWKI, a guy would gladly give him a key date Morgan for a Bic lighter, Probably cough up a Seated half for a blue tarp, probably hand over a Half Eagle for a knife, a Double Eagle for a pellet rifle and a few rolls of buttwipe...throw in the zip ties gratis...

He dont give one diddly damn about buying coins now!..He Said, during the right weather situation, he can trade a pint of Kesslers and a Bic lighter for a Monster box!! He certainly has a point! It IS hard to start a fire...

Even if he is 100% wrong, you can never have enough lighters or tarps or zip ties or buttwipe or whiskey around the place! :laughing:
Click to expand...

The guy you talk about....he can also trade any of those items for food....it is entirely possible, if he has room to store these large stock piles...he will be THE supplier of these goods when the chips are down...if no one kills him to get it ALL! If the wrong people know about it, and things get really bad, they will and then take it....so there has to be some happy medium somewhere. KT is enough of an optimist to think He can squirrel enough "nuts" away to survive the bad times...living in an unincorporated area out of town helps some, living on a cul-de-sac also helps.

KT has another thought....and has acted on it....buy a goodly quantity of over the counter meds. Aspirin, Ibuprofen, etc., bandaids, sterile alcohol wipes, simple sterile sutures, Tums, Pepto pills, isopropyl alcohol, chlorox in 1 gal. bottles, etc. These items when needed by others are readily tradable for whatever you need. Big bottles of multivitamins are also good, too.

What does this all illustrate? You don't have to hoard PMs, especially if you have decided to stay in place. KT understands the small, valuable, and transportable theory, as the Jews did at the beginning of WWII, many converted their wealth into cut diamonds, which could be sewn into the seams of their clothing. That's great for if you are on the move, but if you do not want to move or cannot due to age or mobility factors, then whatever you might hoard, can be of significant value.

This all implies you also have the ability to defend whatever you hoard from those who would just steal it!
 
I read an interesting quote once, but I forget the source , It goes something like this
" In 1850, an ounce of gold would buy a really fine suit. Today, an ounce of gold will still buy a really fine suit."
The point here is that holding physical gold and silver is a hedge against inflation gone wild. Not to sound like a conspiracy theorist but as the US continues down its leftward path to socialism or worse, coupled with enormous worldwide debt, the prospect of US paper currency holding its value diminishes. Those who possess hard currency, gold, silver, guns and ammunition will be the winners. I don't buy these things as an investment to get rich. I buy these things to protect my future.
 
Since I already have 2 bugout bags with the 10 C's (Gray Bearded Green Beret), I now prefer to buy silver and gold.
I told my wife that if I don't buy these things, I will spend the money on things that we will consume, so that's how I justify this portion of my spending.
 
You must log in or register to reply here.

Similar threads

B
1723 hibernia
Replies
10
Views
99
Bobbert
B
U
Tarlada buldum çok garip bir taş
Replies
2
Views
125
stetam
stetam
Treasure Hound
Confederate bill
Replies
3
Views
333
Treasure Hound
Treasure Hound
M
Tungsten Rings
Replies
11
Views
687
Cherry Picker
Cherry Picker
N
Collection over the years (please help in finding the worth of coins)
Replies
8
Views
902
metaladdict
metaladdict
Back
Top Bottom