Starting to investing in Silver? some help

I'm thinking of just sticking to silver eagles, and thinking of buying from Scottsdale Silver buying a few bars, and coins. Been watching alot of videos on youtube, they suggest I should just avoid 1965 - 1970, and focus on 1964 previous. Silver is going to creep back up, but it might face a slight downfall which I hope. I think it several years it would be over $100 I believe. Even gold is creeping faster and faster.

For bars, eagles etc.. they can be easily traded off in exchange for liquid cash if there was ever a emergency. I want to know how can this protect me to hedge against the weak dollar, and even in hyperinflation? It is a scary thought but with spending out of control, and printing press on overdrive to keep up with it's debt. The bubble or one of the legs will give eventually.

The question is if I buy junk coins what importance do they serve? What if hyperflation kicks in. How would people tell the difference between a 1964 quater being worth pure silver from a regular one? How am I going to get it's worth out of it? plus people are generally stupid out there, hell today I brought up buying silver they all looked at me like I'm out of my mind or some ****.

 

Maybe I'm missing something, and I'm willing to listen; but what is the purpose in spending "now money" on the premium for an eagle when in times of SHTF liquidation it's worth exactly the same as .999 "anything "?

 

UGRev, I'm with you in that camp. Why pay a premium on silver just 'cause it's pretty. It's still only silver. Those that are willing to accept silver in the future already know that pre-1965 dollars,halves,quarters and dimes are silver and what percentage of PM (90%) is in the coin, just simple math if you can weigh the coin.

I don't think that in a post-shtf scenario where PM's are used in trade they are really going to care if there are only 5 of this coin available in the world, or if you paid 25 percent over spot. they are only going to give you what it's worth to them in trade.

one word for you. DIMES!

pre 1965 dimes to be precise. good for small purchases, easy to carry and you don't have to wind up paying for a loaf of bread with an American Silver Eagle when if you had a silver dime that would have been enough. Do you think they are going to have change that you would accept?

At todays exchange rate, I'll sell you a dozen farm fresh eggs for a pre '65 dime. a fresh chicken for a silver quarter. How about a duck for a franklin half. But them yummy turkeys those are a peace dollar my friend or your silver eagle. You want half a pig, how about that 5 dollar (new) or 2.5 dollar (old) gold piece. the whole pig with smoked hams and bacon will cost you half eagle (5.00 old gold piece) or a new 10 dollar gold eagle. If you don't have PM you'd better have a cow you want to trade.

And i bet in the future those prices are going to be pretty consistent PM holds it value and so will food. Can't say the same our fiat currency. I for one would love to see a barter system anyway.

As the gov't taxes it when i earn it, when i spend it, and if i save it or have it left over. WTF is up with that?

let's say i earn 10 dollars. after taxes it's 7 dollars and if i spend it i only get 6.60 worth of goods because they nailed me with 40 cents worth of state sales tax. if i saved the 7 dollars due to inflation and the loss of buying power of the dollar after a short time that 7 buck will quickly only buy me 5 dollars with of goods. So spend those FRNs to pay down your debts and buy assets (PM,tools,quality goods that will last,seed,ammo,guns,emergency supplies, canning equipment, ...etc.)

Sorry, went down the rabbit hole again. Back to your regularly scheduled simian discussions.

 

I'm avoiding all US denominated currency for the sole reason that it belongs to the government and I don't have any way of melting it down. So I pick up generic .999 and buffalo's.

 

He does have a point, is it against the law melting it down U.S. coin currency? I just bought some 2x scottsdalesilver 1 oz silver bars for $85. Their doing some free shipping special, it will be 2 weeks but I can wait. I'm just fearing for the worst that we are heading towards a dark path of financial ruin if it dosen't either way I want to hedge against the FRN.

Remember who has the gold/silver makes the rules but besides the point. I'll will be only getting pre-1964 era junk silver once my income picks up with a new job. I have no concern if silver looking pretty is the least of my importance. Thought the scottsdale silver with the lion looks badass though.

Let's say in 2-3 years our society does go in hyperinflation how would you use junk silver to barter. Would it be better to use the bars, and other coins being 1 oz to barter than the 90% quaters.

 

I like the 90% silver for it's fractional oz, i'd buy a couple dozen eggs and a loaf of bread for a quarter. Not a full bar or round oz. How are you going to divide a round? cut it up?

for larger purchase yes. ounce rounds or bars sure. small purchases old us silver coins.

As for it being us property. I guess they can confiscate that when i run out of bullets and my knife is broken and i'm not moving any more. I'll not have much use for it then. Again, they are not going to get that much anyway. It's not like that is my sole barter item. Ability to grow food, fix broken things, weld are probably going to be worth more anyway. Trade a skill/service for something you need. Skills can not be confiscated.

 

when the entire system collapse there may be a few ignorant peeps that will give metals value, but the things that will have thehighest and most stable value will be food, water, shelter, clothing and weapons. pretty metals have no REAL value when youre cold hungry and in danger

 

We've mostly agreed that metals are a store of wealth for post shtf. During shtf, you're correct. That horse has been beaten. skip it.

 

That is a huge assumption. As indicated by others here, not everyone knows that pre-64' is silver. Even less certain will be the percentage without, God forbid, the internet. Unfortunately, most can't bank on only ever trading with preppers who understand what junk silver is.

I'm not knocking the junk silver and have some myself, I'm just saying don't write off those "premium-pretty" Eagles, especially with states starting to accept US minted PMs as currency at the spot price. The Eagles are more of a main stream investment that is more easily turned.

Utah Becomes First State in the Union to Accept Gold and Silver as Currency | _
Legislator says the state needs its own currency - Wire - NewsObserver.com
Legislation Being Introduced in State Houses Proposes Gold and Silver as Money - Robert Kientz - Seeking Alpha
Eight States Consider Gold Standard

All these drafts and the Utah passed legislation accepts the US minted 99.9 silver and 91.6 gold Eagles. Junk silver is not recognized because it does have not have a high enough %. I accept it and it would be glad to barter in it, but barring all out SHTF and a lengthy recovery, US Eagles could save you in a non-apocalyptic, temporary slow down or change to a gold backed state / FED standard.

Forbes Predicts U.S. Gold Standard Within 5 Years - HUMAN EVENTS

 

I've used both Apmex and Lear Capital, and been satisfied with both. The shipping is a lot, but I'm usually buying 10 to 20 coins at a time so the percentage is less. If you have or can find friends or relatives that also wish to buy, combine orders to reduce the shipping percentage. I'm buying for the long term against the coming high inflation, so do not worry about the day to day price changes.

 

Paying too much for Silver?

 

I guess I'm a little more secretive than many of you. I've bought from local dealer who would price at spot plus for gold and silver. After a few buys there wasn't sales tax and never a reciept for these cash transactions. It's invisible. I'm happy to support the local merchant in his free enterprise. Plus, it's invisible.

About a year or so ago, I'd buy 2 rolls of 50 cent pieces every time I went to the bank and had some luck in finding some silver. I think I cleaned out their old inventory, they ordered more, then all rolls were zinc.

Finding silver in circulation is like looking for leprecauns (no offense to you leprecauns out there). I'd like more junk quarters but money's going to other preps right now (and just to maintain). I thought the government would run out of money before I did, but the jury is still out on that one. One thought is old dimes generally have worn thinner over time in relation to overall weight/size, so I prefer quarters. Another thought is that many sheeple think any 50 cent piece is rare so I've even kept the zinc ones though I rarely buy any more rolls.

I check Kitco price and IMO dollar index every morning to try to get a read on when crisis/crunch might begin. Is there some thread in here where others are watching and reading tea leaves? I might be getting close to 5 posts and anxious to see what other "private" areas might hold after I convince the powers that I'm real and worthy.

 

PONZI scheme altert!!!!!

So, to get in this "club," we pay $249 and you get a commission. That, I believe, is known as a Ponzi scheme.

 

Yeah....1 post, and it's "join my buying club for 249 bucks so you can buy silver cheap.

Bullchit.....

From the ad/blog:

Here’s what I purchased on July 1st around 10am PST

On July 1st 2011, the spot price for silver was $33.89. I called up Preservation of Wealth and wanted to buy 20 (1oz) JM silver bars. These are very popular bars and I have successfully sold them for more than the Silver Eagles because they are harder to come by…and yet, they cost me .70 less than the Eagles So, the 1 oz JM silver bars run $2.00 over spot and when I placed my order, my price was locked in at $35.89 per bar. For 20 bars plus insured shipping ($15), my total was $732.80.

Silver is silver unless you've found an idiot to pay you more for a JM bar over any other form of bullion. Personally, I think American Silver Eagles are a ripoff too.....the govt is tacking on a huge premium.

You can buy silver AMPEX rounds for 1.99 over spot ( they had a .99 flash sale the other day ), AND YOU DON'T HAVE TO PAY A 249 BUCK FEE for the privilege of shopping there.

You'd have to buy a HECK of a lot of silver to overcome that fee JUST so you can buy an oddbar, overpriced JM 1oz bar ( the 10 and 100oz are way more popular )......WHO is stupid enough to do this ??