Paper money systems all eventually fail


Here's gold market value increase just TODAY May 21st.

And here's the previous 30 days...

So you better have some Gold.


idahobob said...

and/or Silver.


GunRights4US said...

Sho nuff Bob! My mistake.

The Other Mike S. said...

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).

CAshane said...

Where would be a good place for one to purchase silver? And can I buy it in ingots rather than coinage?

GunRights4US said...

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.