Looking for some help in buying precious metals
- Thread starter COharbinger
- Start date
I do a combination of items because I don't believe anyone can fully predict how a post official banking system world will behave. I have a bunch of junk silver, mostly dimes and quarters, because Washington and Delano are so recognizable. I also have halves and fulls but they aren't for numismatic value, although many are good to fine class.
I do carry some fully numismatic silver stuff that holds high value provided someone grades it or cares about the luster/certs. A gamble in a post banking system world. Waiting for someone who will barter you a higher price for a certed coin seems risky to me. A few years back I converted a bunch of proof sets, mint sets and similar numismatic stuff to junk and haven't regretted it. Today's folks are mostly dumbed-down but I'm sure they will recognize George but perhaps not so much Eisenhower. My 2 cents.
I do have a few pieces of gold but they are the .10 oz pieces. I've never found buying full oz gold to be affordable and would likely be a nightmare to unload if stuff collapses.
This is topside so I won't delve into where to put things discussion. All of mine is in a bank vault anyway. I'm sure everyone else's is as well.
I do carry some fully numismatic silver stuff that holds high value provided someone grades it or cares about the luster/certs. A gamble in a post banking system world. Waiting for someone who will barter you a higher price for a certed coin seems risky to me. A few years back I converted a bunch of proof sets, mint sets and similar numismatic stuff to junk and haven't regretted it. Today's folks are mostly dumbed-down but I'm sure they will recognize George but perhaps not so much Eisenhower. My 2 cents.
I do have a few pieces of gold but they are the .10 oz pieces. I've never found buying full oz gold to be affordable and would likely be a nightmare to unload if stuff collapses.
This is topside so I won't delve into where to put things discussion. All of mine is in a bank vault anyway. I'm sure everyone else's is as well.
Here is my oft told story that my children are sick of hearing.
In 1964, I was a junior in high school. I could go down to my local gas station and buy three gallons of gas and a pack of Pall Mall cigarettes for a buck or four quarters.
Here it is 54 years later, and gas locally is $2.39 and a pack of cigarettes is just over five bucks. So call it $12.17 in fiat paper currency. A 1964 quarter is now worth $3.27 and four of them are worth $13.48 so I could still buy three gallons of gas and a pack of cigarettes with four pre 65 quarters and have change left over. That's as good a demonstration of inflation as I can make
In 1964, I was a junior in high school. I could go down to my local gas station and buy three gallons of gas and a pack of Pall Mall cigarettes for a buck or four quarters.
Here it is 54 years later, and gas locally is $2.39 and a pack of cigarettes is just over five bucks. So call it $12.17 in fiat paper currency. A 1964 quarter is now worth $3.27 and four of them are worth $13.48 so I could still buy three gallons of gas and a pack of cigarettes with four pre 65 quarters and have change left over. That's as good a demonstration of inflation as I can make
