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Precious Metals

If the economy didn't collapse after the failed attempt to deal with the pandemic last year it won't now.
Common sense, sound governing will dictate recovery.
Silver and gold carries risk just like anything else.
Ive talked to people in the know, don't over invest and be prepared to hold on to precious metal until the time is right to sell
 
MoparDanMan said:
At the rate the government is printing new money, it will all be worthless. I remember when I was stationed in Germany and we went on a trip to Italy. I exchanged a couple hundred dollars into lira. I had over one million and thought "cool I'm a millionaire" Then I bought a soft drink and it cost over 1200 Lira.
Click to expand...
Thats a pretty ridiculous analogy, you must not travel much.
 
Wow, every thread I read today is circling the toilet. Winternet's over guys, go work on your cars...
 
Anyone else that feels the need to attack another member personally should consider what a week away from here will be like.

Enough warnings have been issued.

This is a General Discussion forum, not the back alley of some shady Bar downtown.
 
About 10 years ago, silver was on the climb again and a friend bought 10K of silver at $43 per ounce.

He says it will go up again, and then we laugh.
 
Try the First National Bank of Folgers. You put your money in a coffee can and bury it in your back yard. Folgers doesn't pay much in interest, but when you need your cash and dig it up, it is still all there!
 
MoparDanMan said:
At the rate the government is printing new money, it will all be worthless. I remember when I was stationed in Germany and we went on a trip to Italy. I exchanged a couple hundred dollars into lira. I had over one million and thought "cool I'm a millionaire" Then I bought a soft drink and it cost over 1200 Lira.
Click to expand...

Want to express exange rates, the op says he paid 1500 lira for a coke when i was in my home country of Italy.
in Italy the exchange for a usd varied from 1200 to 1600 + or -, this was a long time ago, before the euro came and screwed up our economy,
So the op said he thought he was a millionaire, excannging a couple hundred dollars usd, thats funny becouse he still had a couple of hundred dollars it was just converted to Lira.

Well thats funny in it's self, basicly 1500 lira was about 1 dollar usd (so he paid a dollar usd for a coke), this was most likely in some tourist area), In Italy some thing are more expensive and some cost less compared to here in the states.
Dont understand why inflation was even part of the discussion, had absolutely nothing to do with anything.

I love my homeland but I am 100% red blooded American, make no mistake about that.
Wanted to touch on buying metals, I was a bit lucky so many years ago, a good friend and vp of a local bank convinced me to invest in gold, now i invested when gold was around $350 ,
On paper not actual metal in my hand, it has done very well but i must say that there are far better investment avaailble that have done bettter than gold performed.

As stated before, and I really do wonder..... if the **** really does hit the fan.... will $100 in gold or silver at say todays price, be worth $100 cash?

I wonder, really do.
I will admit that I probably dont know enough about a collapse in our economy.
Please explain my friends.

In case anyone thought I wss some kind of lier as the op said, Italian is indeed my first language, engish second, anyone want to check, I will give you my number and we will talk!
I hold dual citizenship!
20210331_211223.jpg


If anyone has questions about my background please feel free to ask
 
Dave6T4 said:
Try the First National Bank of Folgers. You put your money in a coffee can and bury it in your back yard. Folgers doesn't pay much in interest, but when you need your cash and dig it up, it is still all there!
Click to expand...
Dave, that is a true statement, and One I've followed for ever. The Problem is Inflation. If you buried $100 in a can, back in the 1930's, and dug it up today, you would still have $100, but look at what $100 bought back then, and what it Buy's now. If you buried $100 in gold in the 1930's, which the U.S. Govt set the price at approximately $35/oz, ($100/35=2.857oz), at Today's Spot Price, $1730/oz, you would have $4942.86. That's quite a Difference, and with the way The Fed Res is printing $$, Our Dollar is worth less Everyday. Sad, But True...
 
VANDAN said:
Dave, that is a true statement, and One I've followed for ever. The Problem is Inflation. If you buried $100 in a can, back in the 1930's, and dug it up today, you would still have $100, but look at what $100 bought back then, and what it Buy's now. If you buried $100 in gold in the 1930's, which the U.S. Govt set the price at approximately $35/oz, ($100/35=2.857oz), at Today's Spot Price, $1730/oz, you would have $4942.86. That's quite a Difference, and with the way The Fed Res is printing $$, Our Dollar is worth less Everyday. Sad, But True...
Click to expand...

Yep, if you ain’t gainin, you losin.
 
What are those dollars worth today?
Not much.
When the value of gold is tied to the value of the dollar, when the dollar is worth zero.....you do the math.
 
dla4567 said:
I was talking about NEW pure silver coins like American silver eagles and Canadian maple leafs. I’ve gotten them from several different countries. The same silver content as rounds but more trusted to be pure silver.
Click to expand...
I understand. I just didn't put the 2 together...cr8crshr/Bill:thumbsup::thumbsup::thumbsup::usflag::usflag::usflag:
 
Richard Cranium said:
Ok, you can have a safe full of gold and silver but how do you spend it on groceries and other stuff if the poopy hits the fan?
Click to expand...
Simple RC...Stores will be following the value at substitute $$$'s for the value of Silver Bullion at the time of purchase. Some stores today even are doping so right now...cr8crshr/Bill:thumbsup::thumbsup::thumbsup::usflag::usflag::usflag:
 
cr8crshr said:
Simple RC...Stores will be following the value at substitute $$$'s for the value of Silver Bullion at the time of purchase. Some stores today even are doping so right now...cr8crshr/Bill:thumbsup::thumbsup::thumbsup::usflag::usflag::usflag:
Click to expand...

So what do you do when you want to buy something, go in with a silver or gold bullion bar & a portable scale and nip off pieces and weigh it till you get to the right amount?
 
440+6 said:
Want to express exange rates, the op says he paid 1500 lira for a coke when i was in my home country of Italy.
in Italy the exchange for a usd varied from 1200 to 1600 + or -, this was a long time ago, before the euro came and screwed up our economy,
So the op said he thought he was a millionaire, excannging a couple hundred dollars usd, thats funny becouse he still had a couple of hundred dollars it was just converted to Lira.

Well thats funny in it's self, basicly 1500 lira was about 1 dollar usd (so he paid a dollar usd for a coke), this was most likely in some tourist area), In Italy some thing are more expensive and some cost less compared to here in the states.
Dont understand why inflation was even part of the discussion, had absolutely nothing to do with anything.

I love my homeland but I am 100% red blooded American, make no mistake about that.
Wanted to touch on buying metals, I was a bit lucky so many years ago, a good friend and vp of a local bank convinced me to invest in gold, now i invested when gold was around $350 ,
On paper not actual metal in my hand, it has done very well but i must say that there are far better investment avaailble that have done bettter than gold performed.

As stated before, and I really do wonder..... if the **** really does hit the fan.... will $100 in gold or silver at say todays price, be worth $100 cash?

I wonder, really do.
I will admit that I probably dont know enough about a collapse in our economy.
Please explain my friends.

In case anyone thought I wss some kind of lier as the op said, Italian is indeed my first language, engish second, anyone want to check, I will give you my number and we will talk!
I hold dual citizenship!
View attachment 1091491

If anyone has questions about my background please feel free to ask
Click to expand...
I don't think you ever told any lies and do not pay attention to anyone who would say that. I am no expert on the economy in our country but what you should understand if you don't is the negativity you read here on the economy now in this country is mostly because of members being unhappy about the election.
President 45 inherited a good growing economy from President 44. President 45 grew it even more and for this he deserves credit. Unfortunately Covid 19 pandemic hit this country hard and as a result the economy suffered. We are recovering, we have vaccines and millions of Americans are getting vaccinated every day. We will continue to get our economy back on track
What is sad is that there is always a element of unhappy and evil people who would like to see the country not do well. We saw this during the 4 years of President 45 and now see it with President 46. You cannot reason with a unreasonable person. When you love this country like I'm sure you do and I do, you don't really care who runs it as long as it does well. People work, pay their bills, take care of their families
Be well
 
Richard Cranium said:
So what do you do when you want to buy something, go in with a silver or gold bullion bar & a portable scale and nip off pieces and weigh it till you get to the right amount?
Click to expand...

You really need to be prepared ahead of time. I like to grind mine into a fine powder at home first. That way it’s easy to measure out at the store.
08E8D48F-FA20-4393-9EA5-0A7F3B6CC102.png
 
steve from staten island said:
I don't think you ever told any lies and do not pay attention to anyone who would say that. I am no expert on the economy in our country but what you should understand if you don't is the negativity you read here on the economy now in this country is mostly because of members being unhappy about the election.
President 45 inherited a good growing economy from President 44. President 45 grew it even more and for this he deserves credit. Unfortunately Covid 19 pandemic hit this country hard and as a result the economy suffered. We are recovering, we have vaccines and millions of Americans are getting vaccinated every day. We will continue to get our economy back on track
What is sad is that there is always a element of unhappy and evil people who would like to see the country not do well. We saw this during the 4 years of President 45 and now see it with President 46. You cannot reason with a unreasonable person. When you love this country like I'm sure you do and I do, you don't really care who runs it as long as it does well. People work, pay their bills, take care of their families
Be well
Click to expand...
Damn Steve, yes I do love my contry, as much as you do, i do really respect your opinion, I understand that we may differ, but I know your heart is in the right place..
Far left and far right will always be a stupid battle, where nobody wins.!!!
This comes from a longtime conservative republican, who never dismissed anyone that had a valid opinion.
I just have a hard time dealing with one way ignorance.
Im pretty sure you understand, feel free to correct me is I'm wrong
 
It would depend which bills one stuck in a Folger's can. Some bills made before the 1930's command a good bit.
I cashed a paycheck and was in a check out line at a store. I dropped a fifty and thought: "That looks funny". I debated in my head, if it's fake, let it go. I picked it up and used another.
It was a mint 1932 bill. I called a coin shop and they said it was worth $50. It looked like new, so I asked: "Not even $51"?
Seems someone had inherited a security box in a bank that had $150,000 cash, 20's, 50's, and 100 dollar bills. Killed the value for that year.
 
Wouldn't those 1930's bills be gold certificates?
 
Yup. Pre 1933 for gold certificates.
 
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