Any silver stackers on the board?

[packs]

Not that it matters but Manhattan wasn't purchased for beads or precious metals, it was traded for goods. It was also traded by a tribe of Native Americans who didn't actually own the land they traded.

Sometimes context is important.

[vintagetoppsguy]

Originally Posted by packs

Not that it matters but Manhattan wasn't purchased for beads or precious metals, it was traded for goods. It was also traded by a tribe of Native Americans who didn't actually own the land they traded.

Sometimes context is important.

What goods?

[packs]

Exact details have been lost to history. The beads story is just a story that got repeated enough to be taken as a general fact, like when people say “Elementary, my dear Watson,” in reference to Sherlock Holmes, who never once said that.

[vintagetoppsguy]

Originally Posted by packs

Exact details have been lost to history. The beads story is just a story that got repeated enough to be taken as a general fact, like when people say “Elementary, my dear Watson,” in reference to Sherlock Holmes, who never once said that.

The beads story is what I always heard and apparently you've heard it as well. Maybe it's truth, maybe it isn't. Who knows? I can't prove it's true but, then again, you can't prove it's not.

"...Manhattan wasn't purchased for beads..."

[packs]

I thought about it and I think I will dabble for the value. If you're right about doomsday at least I'll have some.

[Mark17]

Having some gold, silver, rhodium stacked away is a prudent diversification that helps people feel less stress when economies and fiat currencies become volatile. When everything else goes to hell (real estate, stocks, baseball cards, etc.) metals usually go up. It gives comfort to know that part of your accumulated wealth is helping, to some extent, balance the losses you are experiencing elsewhere.

My preference is gold and silver Canadian Maple Leaf 1 oz. coins. The silver coins have a $5.00 face value but considering mining and manufacturing costs, they should never get that low. Still, at least there is a floor (in case somebody snags a 1000 ton asteroid made of solid silver someday.)

As far as doomsday scenarios, I think the point is that some type of money is essential when bartering goods and services, and if the fiat (paper) money becomes undependable, the fallback is precious metals. Whether that scenario will come into play in our lifetimes who knows, but it's nice to feel at least a little bit protected.

[vintagetoppsguy]

Originally Posted by Mark17

My preference is gold and silver Canadian Maple Leaf 1 oz. coins. The silver coins have a $5.00 face value but considering mining and manufacturing costs, they should never get that low. Still, at least there is a floor (in case somebody snags a 1000 ton asteroid made of solid silver someday.)

As an American, I feel like I should be buying Eagles, but it just makes much more sense to buy Maple leafs. Not only because of the face value, but the fineness as well. The American Gold Eagle is only 22 karat gold (91.6% gold and 8.4% copper), but the Canadian Maple Leaf is 24 karat gold (.9999 pure). SilverTowne has the Maple Leafs for $1470.25 and the Eagles for $1488.95. Ummm...I'll take the less expensive one with more fineness, please.

[Mark17]

Originally Posted by vintagetoppsguy

As an American, I feel like I should be buying Eagles, but it just makes much more sense to buy Maple leafs. Not only because of the face value, but the fineness as well. The American Gold Eagle is only 22 karat gold (91.6% gold and 8.4% copper), but the Canadian Maple Leaf is 24 karat gold (.9999 pure). SilverTowne has the Maple Leafs for $1470.25 and the Eagles for $1488.95. Ummm...I'll take the less expensive one with more fineness, please.

All the reasons you mention, plus one:

Suppose it's 1933 scenario all over again, and the US government returns to a gold confiscation policy. Would you be feeling guilty you didn't buy American Eagles, or would you be thankful you bought Canadian Maples?

If you're holding Eagles, you might have to hide them for 50 years, but if you're holding Maples, a trip to catch a Blue jays game (and maybe a brief stop at a coin dealer's shop to sell some of your Maples) could convert your gold asset to liquid currency rather easily.