Certainly you can buy ingots, but if you think about what it is you want to use silver for, coins are better for a couple of reasons. US quarters, 50 cent pieces, and dimes made prior to 1964 all have 90% silver content. And since they were designed to serve as money based on their WEIGHT as a precious metal, you can use a factor of .715 times the face value of the coinage to determine the ounces on silver you have in front of you. That’s not necessarily true of ingots.
For example: You go to the coin & stamp shop and buy $50 face value of US quarters. $50 times .715 equals 35.75 ounces of silver, times the Spot Price of silver trading on the market equals the VALUE in paper dollars. It doesn’t matter if you’re dealing with dimes, quarters, or half dollars (pre 1964). And as I said, coin shops, stamp collectors, and pawn shops are all sources.
But if a large ingot of silver, how can you subdivide it to make a small purchase? It’s ike buying a loaf of bread with a hundred dollar bill. It CAN be done, but it’s neither easy nor practical.
I absolutely and unashamedly believe that every single gun law is unconstitutional. Anybody who wants to own a gun should be able to. Even violent felons (they’ll just kill one another with the result being less criminals around). Kids, old ladies, soldiers on base, postal customers, airline passengers, you know… all those usually disarmed in our present society. Obviously I have libertarian views. I hold in utter contempt: all politicians, most government employees, globalists, all varieties of the political left, the church of abortion, hoplophobes, collectivists, and earth worshippers. I reserve the right to revise this list without limit – as the magnitude of the problem seems to be expanding at an exponential rate!
5 comments:
and/or Silver.
Bob
III
Sho nuff Bob! My mistake.
Yeah, silver is up as well. Both are still off their highs, but have been moving steadily upwards over the past weeks.
We keep a few months of cash expenses (gasoline, food, misc spending) in gold and silver (mostly silver).
Where would be a good place for one to purchase silver? And can I buy it in ingots rather than coinage?
Certainly you can buy ingots, but if you think about what it is you want to use silver for, coins are better for a couple of reasons. US quarters, 50 cent pieces, and dimes made prior to 1964 all have 90% silver content. And since they were designed to serve as money based on their WEIGHT as a precious metal, you can use a factor of .715 times the face value of the coinage to determine the ounces on silver you have in front of you. That’s not necessarily true of ingots.
For example: You go to the coin & stamp shop and buy $50 face value of US quarters. $50 times .715 equals 35.75 ounces of silver, times the Spot Price of silver trading on the market equals the VALUE in paper dollars. It doesn’t matter if you’re dealing with dimes, quarters, or half dollars (pre 1964). And as I said, coin shops, stamp collectors, and pawn shops are all sources.
But if a large ingot of silver, how can you subdivide it to make a small purchase? It’s ike buying a loaf of bread with a hundred dollar bill. It CAN be done, but it’s neither easy nor practical.
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