Any silver stackers on the board?

[bnorth]

I do have a few questions.

Why would anyone save silver for when the economy completely collapses?

Seriously why would silver have any value, because some people hoarded it?

If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.

Is the market only hanging on now because the hoarders are supporting it?

[silvor]

Originally Posted by bnorth

I do have a few questions.

Why would anyone save silver for when the economy completely collapses?

Seriously why would silver have any value, because some people hoarded it?

Because that's what the guys on a message board say.
Of course they don't mention if the refineries will produce fuel for silver or be taken over by the feds, cartels or whatever.

Originally Posted by bnorth

If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.

Is the market only hanging on now because the hoarders are supporting it?

No, the federal government is holding the price of silver down so we think "money" is currency and we keep our fiat bills. This keeps the lower and middle classes in check and they can simply print more and more paper currency. HOUSE OF CARDS WILL FALL!!!

Geeze, inform yourself already.

[steve B]

Originally Posted by silvor

Because that's what the guys on a message board say.
Of course they don't mention if the refineries will produce fuel for silver or be taken over by the feds, cartels or whatever.



No, the federal government is holding the price of silver down so we think "money" is currency and we keep our fiat bills. This keeps the lower and middle classes in check and they can simply print more and more paper currency. HOUSE OF CARDS WILL FALL!!!

Geeze, inform yourself already.

Geeezzz ….

Shiny side out! SHINY. SIDE. OUT.

[vintagetoppsguy]

Originally Posted by bnorth

I do have a few questions.

Why would anyone save silver for when the economy completely collapses?

Seriously why would silver have any value, because some people hoarded it?

If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.

Is the market only hanging on now because the hoarders are supporting it?

Good questions, Ben. I can answer a few, but only speculate on others.

Originally Posted by bnorth

Why would anyone save silver for when the economy completely collapses?

Probably a question better addressed by a prepper, but my guess is that people would still have to buy things and silver would be a way to barter if the dollar became useless and nobody wanted it. Many years ago, other countries wanted the American dollar. Now days, they're trying to get rid of it. Why? Silver and gold have been currencies for thousands of years. In fact, in 15 different languages the word silver and money are the same word. Again, why?

Originally Posted by bnorth

Seriously why would silver have any value, because some people hoarded it?

Same answer as above but, if that were the case, I'm sure other precious metals would have the same kind of purchasing power.

Originally Posted by bnorth

If silver is being mined at 9 times the rate of gold what is it being used for? There is already so much gold that has been mined that if any small country was to sell all their gold. It would make it almost worthless world wide.

There are many industrial uses for silver. Here is an article that describes some.

https://www.learcapital.com/news-blo...es-for-silver/

Originally Posted by bnorth

Is the market only hanging on now because the hoarders are supporting it?

No. Only a small amount of silver is made available to the public. I read the numbers once, but I don't remember off hand. I want to say it was like 10-20%, but I may be off on that. I'll try and look it up though. But most of it is used for industrial purposes.

[vintagetoppsguy]

Originally Posted by bnorth

Is the market only hanging on now because the hoarders are supporting it?

I found this article online. I only skimmed over it, but it looks like 28% of the annual silver supply is used for investment.

https://www.jmbullion.com/investing-...bullion-today/

Keep in mind though, that some of that isn't held by stackers. The IRS will let you have a self-directed IRA backed by precious metals. The tax laws are complicated for that and I don't participate, but I do know that one of the requirements is that you cannot physically hold the metals. It has to be held by private 3rd party storage companies.

For me, I want silver that I can actually hold, that I possess, not in some vault (unless it's a bank safe deposit box). I don't want a certificate, a silver EFT or anything else that shows I own it on paper. I want it in my possession.

[vintagetoppsguy]

Today's history lesson

In 1933, just one month after his inauguration, FDR signed Executive Order 6102 which required Americans to surrender their gold to the US Government. Most did, some didn't. Many people refer to this as gold confiscation, but really they compensated folks at $20.67 per troy ounce. Immediately after the EO 6102 The Gold Confiscation Act, err, I mean the surrender period, came the Gold Reserve Act of 1934 where the government raised the price of gold to $35 per troy ounce, basically screwing everybody out of $14.33 per troy ounce. That isn't much today, but it was a lot back then right after the Great Depression. Ever wonder where the gold in Fort Knox came from? That's it. It also made it illegal for citizens to own gold (other than jewelry). Wow! Don't believe me, look it up for yourself. Gold ownership remained illegal until 1974 when Gerald Ford signed legislation to repeal HO 6102.

If the government confiscated private citizen's gold once and made gold ownership illegal, what's to say they couldn't do it again? Or silver too, or any other precious metal? If anybody thinks that couldn't happen in our country today, they are sadly disillusioned. That's another reason I stack silver.

[vintagetoppsguy]

Originally Posted by bnorth

Is the market only hanging on now because the hoarders are supporting it?

Very interesting video for industrial uses...

https://m.youtube.com/watch?v=4tCOb24fuiE

[58pinson]

I'm strictly gold, bullion value only, no numismatics. While I keep about 100 ozs of silver, again strictly US Eagles for bullion purposes, the storage demands of silver as compared to gold are enormous. If any reading this thread want to pick up some info on the topic I would recommend a site: 321gold.com. They have a trove of good articles to read from many different perspectives. Just my personal opinion, buy anyone with the ability to acquire some metal should seriously consider it. It is and has always been a safe haven in times of economic and social uncertainty. Just my 2 cents.

[barrysloate]

David- I like the idea of having precious metals- I'm probably more of a gold bug than a silver one- but I'm surprised that they've been trading in such a very narrow range for so long. Remember when silver would shoot up to $40-50 an ounce? Now I can't recall when it has traded outside $13-15 an ounce. There doesn't seem a whole lot of interest in gold or silver these days.

I've thought about putting away some precious metals but I don't know if there is any money to be made. I recently started collecting currency, and I have some nice gold and silver certificates, but they are of course only symbolic. You can't get silver or gold on demand any more.

[vintagetoppsguy]

Originally Posted by barrysloate

David- I like the idea of having precious metals- I'm probably more of a gold bug than a silver one- but I'm surprised that they've been trading in such a very narrow range for so long. Remember when silver would shoot up to $40-50 an ounce? Now I can't recall when it has traded outside $13-15 an ounce. There doesn't seem a whole lot of interest in gold or silver these days.

I've thought about putting away some precious metals but I don't know if there is any money to be made. I recently started collecting currency, and I have some nice gold and silver certificates, but they are of course only symbolic. You can't get silver or gold on demand any more.

I'm certainly no one to give financial advice, but I believe everyone should own some metals. For me, it's silver because I look at the potential. However, the first metals I ever purchased was gold, but that was back in 2002 and I think I was paying like $380 an ounce at the time IIRC.

Right now, I just like to upside to silver. Both had highs in 2011 - gold $1917.90 per ounce, silver $49.82 and ounce (within like a dollar of its all time high). Today, gold is $1342.80 per ounce or 70% of its 2011 high, but silver is only $14.82 per ounce or 30% of its 2011 high. I would have to study the history of the gold to silver ratio In terms of price, but as of today it's a little over 90:1. I do know at one point in the late 1700s (I believe) it was like at a 15:1 ratio. But since it's being mined at a 9:1 ratio, then I just think it has tremendous potential. It stands to reason that either gold has to come down or silver has to go up. I'm betting on the silver side.

[Peter_Spaeth]

Now David may freak out because they're slabbed, but I think the two coins designed by St. Gaudens are true works of art.

[vintagetoppsguy]

Beautiful coins, Peter. I actually like slabbed coins. I don't collect them, but I do like them.

[58pinson]

The gold/silver price ratio is an interesting phenomenon. Traditional metal people will point out the the long term ratio was 16 units of silver would roughly average 1 unit of gold. That has gone out the window for some time now. Again, a rough comparison: when I was a kid and borrowing dad's car for a cruise around town gasoline was about .35 cents a gallon. That's when the quarter was silver. Hence, a 1/4 ounce of silver got you the gallon of gas. Today, that same gallon of gas will cost "approximately" the equivalent of a 1/4 ounce of silver - not exactly of course. The other old story is that an ounce of gold should buy a good men's suit. Historically it does. What's changed? The key is that we are denominating these commodities (like all others) in US $'s, and, without getting in any way political, the bi-partisan crew of goofballs running the show cannot stop debasing the currency (this is a world wide problem).

David:
You asked why I "stack" gold. It is my opinion, based on my investigation and probably as much on my personality, that every paper currency in the history of the planet has failed, eventually. I do no see ours as being a candidate for exceptionalism. If the wheels come off this current state of living arrangements the bad stuff is going to go right through the biggest exhaust fan ever. We need fiat currency to conduct our day to day affairs, but saving in it reminds me of saddling up to a crooked three card monte game. Not for me.
We skated on very thin ice 10 years ago or so - next time, and it's coming, who knows. I mentioned the 321gold.com website in my original comment, and I think you would be interested in another site I take a look at sometimes:
coloradogold.com. They are metal sellers, but I would recommend you click on the "Don's Column" icon. He's the retired owner of the site and he writes a column once or twice a week. He's old school and a character, but having read some of your views on things through the years I'm pretty sure you're going to like where he's coming from.

[vintagetoppsguy]

Originally Posted by vintagetoppsguy

...silver is only $14.82 per ounce...

As I type, silver is at $19.50 an ounce, up nearly $5 an ounce from less than 3 months ago. I'm not selling right now. Just the opposite, I'm still buying. I think we'll see $25/oz silver by the end of the year...if not much sooner.

[Directly]

Why do we buy baseball cards, some buyers pay millions for say a T206 Wagner..Lets for discussion say the economy tanks, as 1929.

Question: What might be possibly best to trade for a piece of bread--a ounce of silver or a Mantle baseball card. So just in case why not have both!

Cash may be king, did the decline of the Roman empire begin when they removed the silver from their coins, ring a bell?

[vintagetoppsguy]

Originally Posted by 58pinson

I'm strictly gold, bullion value only, no numismatics. While I keep about 100 ozs of silver, again strictly US Eagles for bullion purposes, the storage demands of silver as compared to gold are enormous. If any reading this thread want to pick up some info on the topic I would recommend a site: 321gold.com. They have a trove of good articles to read from many different perspectives. Just my personal opinion, buy anyone with the ability to acquire some metal should seriously consider it. It is and has always been a safe haven in times of economic and social uncertainty. Just my 2 cents.

Very cool. We don't have to limit the discussion to just silver. We can talk gold too (or any other metal). I would love to hear what you stack and your reason(s) for stacking?