I can’t help it - I think I’m turning into a coin freak. I’ve got a couple pounds of silver rounds stashed and was seriously considering gold except that gold is too hard to spend! What’s an ounce of gold now? $3000.00? In one 1oz. coin? How do ya even work with that? Barter big I guess?
I didn’t really think about it but I guess you can get platinum rounds too.
This one oz. platinum coin has an old
stubfart stamped on it.
Spot on platinum is $994.00 which is easier to work with than gold, I guess. I’m just not seeing many cool platinum coins to buy. With gold you got your choice of eye catching coinage - krugarrends, maple leafs, eagles…
These are South African and the only cool
coins I can find.
I think WL Emery has stacks of them in his trophy room.
I’d love to have a couple of those in my collection! I guess Palladium is precious too… and I can’t find any 1 oz coins in it.
Rhodium is something like $5400 beans per oz… and I can’t find any coins in it…just these little mini ingots.
The problem I have is that these things spark my inner greed and I wouldnt want to spend them… I’d just want to hoard them and admire them.
I wonder… the way things are going… would I have been better off as a young man to sink my savings into precious metals rather than RRSP’s and GIC’s n’ such?
Suspect that “Pb” may be a precious metal before long. Spain, Portugal & a bit of Fwance all blacked out yesterday. Hmmmmm.
ReplyDeleteSuspect that “Pb” may be a precious metal before long. Spain, Portugal & a bit of Fwance all blacked out yesterday. Hmmmmm.
ReplyDeleteWell, Spain backed out of supplying Israhell with a large shipment of murder munitions, so fuck 'em. Don't defy the Joooomafia. They have ways to make you sorry.
DeleteUh oh, did I say that in my out loud voice?
3K of gold? An ounce before premiums are added?
ReplyDeleteCoffee might be a better barter item. Canned foods and stuff to fix your home after storms and crazies break those windows and such.
I agree. You don't see many good recipes for gold soup.
DeleteYou can't eat any of those things. All that really matters is food and ammo. Fishlaw
ReplyDeleteI invest in fine old revolvers mostly S&W and Colt. They check all the boxes of coins and more. Lovely to handle and admire, easy to liquidate and for social work it's more cost effective and efficient to throw lead than gold coins.
ReplyDeleteWhen I started buying rounds of silver, it was about $8USD a ounce. In addition to its intrinsic value, it also has a value as a coin. The one in my wallet is worth $70USD last I checked.
ReplyDeleteAs far as spending them, most pawn shops and jewelers will pay spot prices here.
Yes but dont they require ID?
DeleteRight now I am doing everything in cash whenever possible and it pisses some merchants right off. Most would tell me to buzz off if I tried to pay in silver…
JP Morgan said "gold and silver is money, nothing else".
ReplyDeleteIt's true because both are fungible, ie anyone anywhere in the World will accept gold and silver for payment.
There is a story that during the Fall of Saigon there were South Vietnamese officials with a ton of South Vietnamese cash and some with gold. The gold was quickly converted to US dollars and the South Vietnamese cash was thrown overboard because it was worthless because that government no longer existed.
All of that said I strongly recommend silver coins to buy as part of your investment strategy. This is for when governments and society are still functioning, if it isn't then things you can eat or shoot are better.
What precious metals ARE great for is a hedge against inflation.
Unless it is being manipulated (and they have been BIG time), the price of precious metals will go up as inflation decreases the value of your currency.
Yup. I’ve always been taught that metals insurance… and not investments.
DeleteI feel the same about gold, Glen; too expensive and too hard to "break." This has been a perennial problem with gold coins. At one point gold coins were cut into eight "pizza slices" to make change. Hence the term; "pieces of eight." ARRRGH, MATEY!!!
ReplyDeleteI keep some silver on hand, but prefer tangibles like guns, ammo, and non-perishable food. I do think that, to some extent, cash will still see use as cash locally, even if it's rendered "worthless." After all, cash essentially IS worthless. It only has certain values because we AGREE it has those values, just like those damned Pokémon cards my kids used to play with. They all came five to a pack for about a buck, but somehow, certain cards were worth MANY times their purchase price... because the kids said so. Sure, some locales will come up with their own "scrip," but why bother, when a usable currency is already out there?
I agree with Michael. People will go without food for coffee. 'Same goes for alcohol for some! I've found that vacuum sealed coffee will last quite a while. I'm working on coffee I bought well over a year ago, and it's just fine. If you're looking to barter it, you can get "96-paks" of store-brand "Keurig" cups at Wally World. The coffee in them is actually pretty good. Again, they're sealed and have a good, long shelf life! ...Pieces of 96?...
Just so, Pete.
DeleteI know when Cyprus had their financial meltdown the govt went into everyone’s savings account and gave them a 10% “haircut”. They also came up with a butt load of tax grabs and clawbacks.
To get around them the citizens literally created a black market underground computer based barter system that allowed citizens to barter and exchange under the table… and the govt nearly went mad trying to uproot it and stamp it out…
Did they do that on crypto? I don’t trust crypto - the chinks basically banned it and if you get caught using it - you go to the camps… and probably don’t come out again.
From what I read, FDR tried to ban metal stacking but couldn’t enforce it. I wonder if the totalitarian chinks can?