Gold and Silver??

4451 Views 35 Replies 14 Participants Last post by Ripon, Feb 21, 2014

MikeyPrepper

Discussion Starter · Nov 18, 2013

Hey all hope all is well I was talking with my brother in law and we decided to invest in silver bars.Has anyone else had experience doing this?

Save

1 - 4 of 36 Posts

Yes, I have been collecting silver. What do you want to know about it?

As was stated, old coins can be a hassle. The silver content is determined by the year. On the other hand, Walking Liberties are known in content and weight.

I like one ounce bars. A good one is the Stagecoach Silver bar. It is scored so that it can be broken into 1/4 ounce pieces.

The down side of bars and rounds over one ounce coins like the Walking Liberty is tax. You are not taxed with coins, but are supposed to pay tax when you sell rounds and bars.

Save

Reactions: 2

Denton

· #20 · Nov 20, 2013

R-P Daddy, you put things into perfect perspective. Then again, being debt free is a part of prepping, and we should all be striving to that goal.

Save

Reactions: 3

Denton

· #26 · Nov 20, 2013

WildernessGuy24:13 said:
I don't like to talk about it but once things started to go sideways in the economy I cashed out my 401k and converted it into gold. Rumor has it that silver isn't a long term stable as gold.

Never heard that rumor, and that rumor goes against historical grain.

As has been mentioned time and again, silver has been historically used for domestic commerce, while gold, international. Both are a store of wealth that resists the chaos of currency wars, and are still valuable after a currency falls.

Another thing to consider about silver is its industrial use. While most of mined gold is stored, the same can't be said with silver. Its industrial use insures a lot of it goes into landfills.

By the way, silver is at 20.15, at the moment. Mining companies are struggling, and prices can only go so low before mines are closed. I don't expect the bargain prices to go on, forever.

But, what about economic upheavals? Won't the price of silver go down if we stall into a bad depression? Sure, but I think the depression is going to be followed by serious inflation brought about by the collapse of the dollar. How many worthless pieces of paper will it take to buy a cart full of groceries?

See less See more

Save

Reactions: 1

Denton

· #28 · Nov 20, 2013

WildernessGuy24:13 said:
I could have heard wrong but I know gold is being used at an alarming rate for the manufacturing of electronics. Silver too, but not as much.

You've got it bass-ackward, though gold is used as a conductor, too. Difference is, gold is recycled as much as possible. Being cheaper and only slightly less conductive, silver is more used and then discarded.

But then, don't listen to me. I don't know why I say anything - I want silver to fall a lot more! :lol:

Save

1 - 4 of 36 Posts

This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.

Top Contributors this Month