Coins/ Silver question

basesareempty · #1 10-01-2011, 10:27 AM

Not that I am some doomsdayer but if we ever have a full economic collapse in the US, paper currency will be almost worthless as it is backed by nothing. Inflation will go through the roof like WWII era Germany where you needed a wheel barrow full of German Marks to buy a loaf of bread. In this senario 90% silver coinage will have a lot of value and purchasing power.

barrysloate · #2 10-01-2011, 10:46 AM

And that's exactly why people are speculating in precious metals. However, doomsday scenarios rarely ever occur.

bbcard1 · #3 10-01-2011, 06:34 PM

Personally, and I am no economist..in fact, every thing I do investment wise seems to be kind of wrong timing...but I think a deflation scenario is as likely as an inflation scenario. Our economy is a wreck, which would be very troubling if it were not stronger than most of the others worldwide.

vintagechris · #4 10-02-2011, 08:37 AM

As a person who stumbled into investing in silver and gold(my Dad's neighbor wanted me to sell some of his 90% silver on ebay in 2007) I can say have have done more than average research on it.

The advice you see in the thread is all good advice. I would say if you don't need the money, just hold it but I am also a person that believes everyone should have some gold and silver as an investment.

Silver was recently at $40 and then dropped to around $30, I consider that a good buying opportunity. There seems to be at least one sizeable correction each year, use it to buy.

If it goes to $50, it wouldn't be a bad idea to sell as there will probably be another correction to buy. Silver never just goes straight up or down and I doubt it ever will.

Exhibitman · #5 10-02-2011, 12:29 PM

Good advice all around. Having a small allocation in on-hand metals isn't a bad idea for us average joes, as a stop-gap against runaway inflation. That plus real estate [housing] and well-thought-out card collections

will be enough hard assets for most people.

Barry, totally agree that if there was a 6% ROI w/o risks out there most people would be in it. That's why there won't be. Me, I'm devoting what I would have stuck into 'investments' to paying down my existing debts. I know the guaranteed ROI on that investment.

bbcard1 · #6 10-02-2011, 02:37 PM

Historically, we have enjoyed 6% ROI investment vehicles, but it has only been during times of 10% inflation. I have a banker friend who calls the Certificates of Depreciation, which would be clever if he were not trying to sell some other brand of snake oil at the time.

barrysloate · #7 10-02-2011, 04:15 PM

I'm not sure we will ever see any substantial interest offered again, certainly not in the foreseeable future. And that is exactly what most people want, especially those who are thinking about retirement- a safe haven to earn a modest return. I think there are more than a few people fed up with the wild gyrations of the stock market.

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