# Investing in silver?



## jasonc (Oct 29, 2014)

Hello everyone, so recently I have been thinking a ton about silver. I know gold is another option, but right now silver is just over $17 an ounce, and seems like a great investment at the moment. I found a local guy who's willing to sell for a dollar over spot, and has about 500 ounces. Currently I only have about 9 ounces of silver, and am seriously considering putting some more money into it. Does anyone have any thoughts on it?


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## paraquack (Mar 1, 2013)

For a dollar over spot, I'd buy some.


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## jasonc (Oct 29, 2014)

paraquack said:


> For a dollar over spot, I'd buy some.


Also, no shipping costs. It's a great deal, right? I'm hoping someone can convince me to go through with it


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## paraquack (Mar 1, 2013)

Only by credit card. No ship charges, and only a dollar over spot. Beginning to should like a scam. Is the guy a rich prince from Nigeria?


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## jasonc (Oct 29, 2014)

paraquack said:


> Only by credit card. No ship charges, and only a dollar over spot. Beginning to should like a scam. I the guy a rich prince from Nigeria?


It will be a local guy, face to face, and from his personal stack. This guy's working on starting a business and has 500+ ounces of silver, so he's selling it so he doesn't have to take out loans I guess


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## littleblackdevil (Jun 29, 2013)

Just be careful bro.


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## jasonc (Oct 29, 2014)

littleblackdevil said:


> Just be careful bro.


I definitely will be. I'm planning on picking up a single ounce tomorrow and checking it out and then deciding if I want to buy more. Thanks.


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## Denton (Sep 18, 2012)

What sort of silver? Be careful of fake bullion.


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## paraquack (Mar 1, 2013)

I've heard of a guy selling bright shiny lumps of plumbers solder (no lead) as silver.

Here's a wiki site for testing. 6 Ways to Test Silver - wikiHow


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## jasonc (Oct 29, 2014)

Denton said:


> What sort of silver? Be careful of fake bullion.


It will be Liberty, Buffalo, and Eagle coins, and as far as I know, fakes are very hard to come by of those (hopefully)


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## jasonc (Oct 29, 2014)

paraquack said:


> I've heard of a guy selling bright shiny lumps of plumbers solder (no lead) as silver.
> 
> Here's a wiki site for testing. 6 Ways to Test Silver - wikiHow


Thanks for the link, that should definitely help. This stuff is going to be exclusively American minted coins, and fakes should be relatively easy to spot in comparison to bars.


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## Denton (Sep 18, 2012)

jasonc said:


> Thanks for the link, that should definitely help. This stuff is going to be exclusively American minted coins, and fakes should be relatively easy to spot in comparison to bars.


Do not for one moment think that a coin is real simply because it appears to be minted in the U.S. 
Coin Fraud - Fake Silver Eagle Coin Fraud

Do not think that "coins" are safer than bars or rounds, either. As a matter of fact, I'd prefer buying bars that are still in there plastic blister sheets than loose coins, unless I was buying them from a place I trust.


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## jasonc (Oct 29, 2014)

Denton said:


> Do not for one moment think that a coin is real simply because it appears to be minted in the U.S.
> Coin Fraud - Fake Silver Eagle Coin Fraud
> 
> Do not think that "coins" are safer than bars or rounds, either. As a matter of fact, I'd prefer buying bars that are still in there plastic blister sheets than loose coins, unless I was buying them from a place I trust.


I was just thinking of all of the detail that is very hard to mimic on coins, and when the details are different, it's possible the coin is fake. I don't know enough about bars and rounds to know if the same rules still apply, though.


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## redhawk (May 7, 2014)

If it was me, I would buy some...JM2C


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## Denton (Sep 18, 2012)

jasonc said:


> I was just thinking of all of the detail that is very hard to mimic on coins, and when the details are different, it's possible the coin is fake. I don't know enough about bars and rounds to know if the same rules still apply, though.


Fakes are not created in the basement of some loser's mother's home. They are created by skilled, professional dirt bags; many of them living in China.

If you want to feel confident about the product, buy from the source. For example, NWTM and Scottsdale Silver has their own bars and rounds.

You can also buy Silver Eagle bullion from reputable places, too, and feel confident about the product. On the other hand, buying proofs and uncirculated Siver Eagles from the U.S. Mint means you are going to pay triple what spot is, right now.

Silver collecting is fun and is something that will always be valuable. You'll enjoy collecting art bars and rounds as well as collecting silver coins from around the world. Learn about the stuff, though.

Several months ago, a friend ran down to Panama City, Florida to one of our favorite places to look for bars and coins. A fellow was outside the place, handing out Chinese Silver Panda coins. Thing is, they weren't real. He'd bought several dozen off of E-Bay. He tried to sell them at the silver, gold and jewelry store, but they spotted them to be fake. The sucker was handing them out to people as a warning, so they wouldn't get taken like he did. By the way, the fakes looked very real.

Have a great time. but try not to get taken.


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## alterego (Jan 27, 2013)

I have re implemented my program from 1993 through 2010 I would stop and buy silver once a week. When the market was high I sold. It was hard to stop doing what I had done for years. I would go in and look once. In a while and listen to the doomers tell me it was going to xxx per ounce. They were all wrong. I believe that I am buying in mid range at this. I think spot will drop substantial to eleven an ounce this summer their are significant upward demand overseas that is keeping the cost up while western banks are manipulating down. I will keep my steady attempt and not jump in big where the adverse result and disappointment is large.

When considering it as investment the only thing that matters is the spread between buy and sell. If you can tighten on eather end it increases your possibilities of profit. I could go on.


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## scramble4a5 (Nov 1, 2012)

From a private party I don't know I would only buy the Eagles unless I had the others tested. As for the price I is fair but I am not sure if silver has much of an upside for now. Not bad to buy and hold.


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## jasonc (Oct 29, 2014)

scramble4a5 said:


> From a private party I don't know I would only buy the Eagles unless I had the others tested. As for the price I is fair but I am not sure if silver has much of an upside for now. Not bad to buy and hold.


This guy has 480 Liberty and Buffalo ounces, and only 20 Eagles, and he's selling the Eagles for five bucks over spot. I'm thinking I'll buy one Liberty today, test it, and then maybe go back for more.


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## jasonc (Oct 29, 2014)

alterego said:


> I have re implemented my program from 1993 through 2010 I would stop and buy silver once a week. When the market was high I sold. It was hard to stop doing what I had done for years. I would go in and look once. In a while and listen to the doomers tell me it was going to xxx per ounce. They were all wrong. I believe that I am buying in mid range at this. I think spot will drop substantial to eleven an ounce this summer their are significant upward demand overseas that is keeping the cost up while western banks are manipulating down. I will keep my steady attempt and not jump in big where the adverse result and disappointment is large.
> 
> When considering it as investment the only thing that matters is the spread between buy and sell. If you can tighten on eather end it increases your possibilities of profit. I could go on.
> View attachment 9659


After thinking it through, I think you're very right. I've only been looking at the markets for about a year, but I'm thinking that as all of these other countries enter a recession because of the low Crude costs, they will be buying more silver and gold, which should increase costs eventually, probably not for about another year though.


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## alterego (Jan 27, 2013)

jasonc said:


> After thinking it through, I think you're very right. I've only been looking at the markets for about a year, but I'm thinking that as all of these other countries enter a recession because of the low Crude costs, they will be buying more silver and gold, which should increase costs eventually, probably not for about another year though.


Please do something for me it will cost you a little but an education is priceless.

Find a couple of local dealer s I know all of them now for my area. Go to one buy a single troy ounce off brand art bar or round. Buy it and note the spot cost the moment you buy it and ask what their s rescue. Is spot plus a percent plus a buck. Take it and drive to the next dealer. Go in and tell them you need a couple of bucks and you want to sell the piece. Write it down calculate the spread. Then buy a different piece from the guy. He will think you are nuts no matter. Do not tell him what you are doing. Then take your piece to the next place and sell it and buy another. Calculate the spread. Use this information to determine who you buy from in the future and what a reasonable cost over spot and the percent spread is. Then proceed with this understanding. I bet this exercise will cost you 25 bucks. But it will be a great education.


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## Stick (Sep 29, 2014)

I stopped buying silver when it hit five dollars an ounce. Too rich for my blood. Stopped on gold at about $400. I pick it up when I find it (gold) via shovel, pick, pan, sluice, and rocker box.


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## jasonc (Oct 29, 2014)

Just met with the guy, he seems nice, and the silver is legitimate. Just bought this for today, and I'm considering buying $200 worth tomorrow.


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## Pir8fan (Nov 16, 2012)

I've got junk silver, no bullion.


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## jasonc (Oct 29, 2014)

Pir8fan said:


> I've got junk silver, no bullion.


I had all pre-1964 dollars, half dollars, quarters, and dimes until today, and I found that buying bullion is really all about the silver, and you don't have to worry about mark ups for specific years or anything.


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## Pir8fan (Nov 16, 2012)

jasonc said:


> I had all pre-1964 dollars, half dollars, quarters, and dimes until today, and I found that buying bullion is really all about the silver, and you don't have to worry about mark ups for specific years or anything.


All of mine was inherited so it didn't cost me anything. I have just over $1,200 in face value. Something north of $17,000 market value.


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## jasonc (Oct 29, 2014)

Pir8fan said:


> All of mine was inherited so it didn't cost me anything. I have just over $1,200 in face value. Something north of $17,000 market value.


That's phenomenal! I only have about $150 in coins that I inherited. I have a nice 1921 Morgan dollar, wanna trade?


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## Doc Holliday (Dec 22, 2012)

I have finally started picking up Silver bars and rounds again (had to sell my 500 bars when I became disabled and ran out of money) just got 25oz's and going to get some more tomorrow.. Paid for by the local indian tribe... (went to the casino and took some of their money home finally!) They usually take mine (im not a good gambler) 

at 1.00 over spot, I would be getting what you can.. I pay 2.00 over at my local coin shop


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## jasonc (Oct 29, 2014)

I'm thinking I'll just pick up 11 ounces for $205 tomorrow. It sounds like this guy might lose his job (oil drilling related) so I'll pay a little extra. It's still only going to be about $18.63 an ounce, though, which I feel is fair. I'll probably pick up a few more ounces here and there over time, too. I'm even considering coin roll hunting, but it sounds like a waste of time now that thousands of people are doing it.


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## 8301 (Nov 29, 2014)

What is coin roll hunting?


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## jasonc (Oct 29, 2014)

FoolAmI said:


> What is coin roll hunting?


Where people go to a bank and order rolls of halves, quarters, or even dimes, and look for pre 1964 coins (or pre 1969, in the case of half dollars) which contain 40-90 percent silver. It's almost like free silver, and you just return the searched coins back to the bank and get some more to sort through. It's all over YouTube, I would definitely recommend checking if out. If anyone tries it, let me know how it goes.


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## Doc Holliday (Dec 22, 2012)

you do know how much silver is in each coin don't you?

I did roll hunting for a while and got quite a few silvers but stopped finding them so I stopped.


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## jasonc (Oct 29, 2014)

Doc Holliday said:


> you do know how much silver is in each coin don't you?
> 
> I did roll hunting for a while and got quite a few silvers but stopped finding them so I stopped.


I've been hearing a lot of that lately. It seemed like as soon as everyone posted it online everything just disappeared.


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## jasonc (Oct 29, 2014)

I bought 11 Buffalo silver rounds for around $18.63 each, I paid $205 total. These are selling online for $2.50 over spot, so I feel like I got a great price. I weighed all of the coins and did the magnet sweep, and decided they were legitimate, so I bought them, brought them home, did a few more tests, and they're still looking good. Here's a picture of the 12 rounds I have right now. Thanks for the help everyone.


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## Ralph Rotten (Jun 25, 2014)

Dood! Thank you for telling me that silver was down to $17. I gotta go buy. As soon as there is a problem with the markets, people go rushing back to the old reliables like precious metals. Last time it was this low I bought a big bag and put it away. My wife was pissed that I spent the money.

When I sold at $32/oz and used it to buy her an Outback, she wasn't bitchin' no mo.
Yep, this is the time to buy it if it. Seems to be bottoming.


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## Arklatex (May 24, 2014)

4 days and not one comment that "it's not a prep, you can't eat it or shoot it" I'm impressed. 

I usually buy at least 1 silver eagle a month. But lately I have been considering more since it's the lowest I've seen since I started collecting.


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## jasonc (Oct 29, 2014)

Arklatex said:


> 4 days and not one comment that "it's not a prep, you can't eat it or shoot it" I'm impressed.
> 
> I usually buy at least 1 silver eagle a month. But lately I have been considering more since it's the lowest I've seen since I started collecting.


I was actually surprised nobody said anything about it, too... I must be on the friendly part of the forum...


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## Ralph Rotten (Jun 25, 2014)

Stockpiling precious metals has been a cornerstone of wierdo survivalist preppers since forever. The vast majority of people I have known who were serious about collecting coins and metals were also gun nuts and survivalists. They do it because it is off the grid wealth. Really the two go together naturally. You pay no taxes on a ton of silver in your bunker.

I prefer to buy rounds of 99.9% pure silver and just deal with it as a precious metal, versus coin collecting. Coins are too subjective, and they are not pure so under some apocalyptic scenarios they lose all collectable value, so their whole value is solely as a diluted precious metal. But silver rounds are pure. They are valuable today, and they would still be valuable in an afterworld. Silver has uses besides jewelry, and would be a strong candidate for your fledgling currency. You'll have to create a currency system sooner or later...


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## Ralph Rotten (Jun 25, 2014)

And it would be most logical to create your new currency system in a material you are already rich in.


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## Maine-Marine (Mar 7, 2014)

Ralph Rotten said:


> And it would be most logical to create your new currency system in a material you are already rich in.


Say WHAT..

I am think jelly beans... I will corner the market on jelly beans and use them as currnecy.. LOL

OTHER PEOPLE have to be willing to accept YOUR NEW system....


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## Maine-Marine (Mar 7, 2014)

Ralph Rotten said:


> Stockpiling precious metals has been a cornerstone of wierdo survivalist preppers since forever. The vast majority of people I have known who were serious about collecting coins and metals were also gun nuts and survivalists. They do it because it is off the grid wealth. Really the two go together naturally. You pay no taxes on a ton of silver in your bunker.
> 
> I prefer to buy rounds of 99.9% pure silver and just deal with it as a precious metal, versus coin collecting. Coins are too subjective, and they are not pure so under some apocalyptic scenarios they lose all collectable value, so their whole value is solely as a diluted precious metal. But silver rounds are pure. They are valuable today, and they would still be valuable in an afterworld. Silver has uses besides jewelry, and would be a strong candidate for your fledgling currency. You'll have to create a currency system sooner or later...


Most folks collect old silver coinage because it is more recognized... I do not know ANY PREPPERS that buy silver coins for future use based on their collector value.

I think you view of silver and silver content is a little strange. Silver is silver.... your hang up is that the silver coinage is not in a amount that you can quickly figure in your head 1/10, 1/4, 1/2, and 1

PURE SILVER - lol - that comment made me chuckle... next week we will discuss melting coins


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## jasonc (Oct 29, 2014)

Maine-Marine said:


> Most folks collect old silver coinage because it is more recognized... I do not know ANY PREPPERS that buy silver coins for future use based on their collector value.
> 
> I think you view of silver and silver content is a little strange. Silver is silver.... your hang up is that the silver coinage is not in a amount that you can quickly figure in your head 1/10, 1/4, 1/2, and 1
> 
> PURE SILVER - lol - that comment made me chuckle... next week we will discuss melting coins


I think what he was saying is if you're going to invest in silver specifically, rounds and bars are best because there isn't a huge mark up, like there would be for a 100 year old Morgan dollar or something.


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## Doc Holliday (Dec 22, 2012)

I just got back from my trip to Oregon (dang did that hurt!) picked up 55 Indian head 1oz rounds for 1.00 over spot and paid for by the money my wife won when we went to the casino before starting our trip.. I love buying silver with won money! I am over 80oz now and still adding when I find a good deal. 

My brother gets the rounds at 1.00 over spot all the time so he said when I want some to paypal him the money and he will pick up what ever I want.

Silver is under 17.00 an oz right now so its a good time to buy


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## Jakthesoldier (Feb 1, 2015)

Just bought my first round today. It was exciting strangely. I guess seeing something so tangible and permanent in my hand. I will be buying more in an attempt to save some money in a bank account I can't easily cash out and had a slightly higher interest rate.


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## 8301 (Nov 29, 2014)

It is an excellent time to buy silver but at this point I've already got some (at a higher price). Wish I'd held off until prices got this low.


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## jasonc (Oct 29, 2014)

I've been watching the prices fall and am thinking I'll buy a lot more soon. I only have about 20 ounces right now, but I'm planning on keeping at least 10 at all times, just incase. Hopefully prices continue to drop.


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## shoot2live (Feb 6, 2015)

Jakthesoldier said:


> Just bought my first round today. It was exciting strangely. I guess seeing something so tangible and permanent in my hand. I will be buying more in an attempt to save some money in a bank account I can't easily cashe out and had a slightly higher interest rate.


As our collection grows, I'm going to come up with a way we'll be able to see and feel our "savings" account beauty. Don't worry, whatever I come up with, our dachshund will alarm the entire world if anyone, you and me included, attempts to make a withdraw; deposits will receive puppy kisses, though.


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## Ralph Rotten (Jun 25, 2014)

I will prolly grab a grand out of the tax return and buy a buncha 99.9% pure rounds. The wife will be mad, she had the money earmarked. But then, she was pissed the last time I did this, and she was the one who wound up driving a new car. 


And I think I was mistaken when I mentioned cashing in my last batch of silver. I think I got $40 an oz when it was at $42/oz. Bought them at $14 & $19, so I doubled my money. 

My dream is to fill this treasure chest I have with silver. That would be an awesome retirement package that the Guvt couldn;t touch. Just buy a round or two a week.


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## jasonc (Oct 29, 2014)

Ralph Rotten said:


> I will prolly grab a grand out of the tax return and buy a buncha 99.9% pure rounds. The wife will be mad, she had the money earmarked. But then, she was pissed the last time I did this, and she was the one who wound up driving a new car.
> 
> And I think I was mistaken when I mentioned cashing in my last batch of silver. I think I got $40 an oz when it was at $42/oz. Bought them at $14 & $19, so I doubled my money.
> 
> My dream is to fill this treasure chest I have with silver. That would be an awesome retirement package that the Guvt couldn;t touch. Just buy a round or two a week.


I've actually been working on filling my chest thing with silver. I don't know why, but it's so satisfying to have this pirate-looking collection that's worth so much money


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## Ralph Rotten (Jun 25, 2014)

Arrrrgh, I know what you mean. It makes my wooden leg stiffen.


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## jasonc (Oct 29, 2014)

Ralph Rotten said:


> Arrrrgh, I know what you mean. It makes my wooden leg stiffen.


I wish I could like this more than once


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## Doc Holliday (Dec 22, 2012)

Ralph Rotten said:


> Arrrrgh, I know what you mean. It makes my wooden leg stiffen.


I would like that twice if I could!!!


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## James m (Mar 11, 2014)

Thats hilarious. I never set out to collect currency on a pirate level, i have a 1 dollar coin from 1898 assorted $2 bills. I was into coin collecting for a little, half dollars and the books you put coins in. Proof sets for about a decade, and all state quarters. 

I have some gold coins from the 1970's they are the size of a dime and put away. Still trying to find a value p, off to el goog.


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## jasonc (Oct 29, 2014)

Today I was sorting through hundreds of dollars of change and came up with a 1941 nickel, and a 1956 penny, and that was as good as it got. I was just looking through a desk the other day though, and I had two awesome finds; a 1936 Wheat penny, and a 1962 silver dime, with 0.0723 ounces of silver.


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## jasonc (Oct 29, 2014)

I'm thinking about getting some more silver today, what's a good amount to have?


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## warrior4 (Oct 16, 2013)

jasonc said:


> I'm thinking about getting some more silver today, what's a good amount to have?


Depends on how much you can afford to be honest. Mrs.warrior4 has restricted me to only being able to buy two ounces per month, though this month since the spot price was down I was able to get away with buying three. We have some hefty student loans we're repaying along with rent, groceries, gas, etc. The nice thing is that when you have it, it's right there so you only need the space to store it. I'd advise starting small and gradually building up your supply.


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## jasonc (Oct 29, 2014)

warrior4 said:


> Depends on how much you can afford to be honest. Mrs.warrior4 has restricted me to only being able to buy two ounces per month, though this month since the spot price was down I was able to get away with buying three. We have some hefty student loans we're repaying along with rent, groceries, gas, etc. The nice thing is that when you have it, it's right there so you only need the space to store it. I'd advise starting small and gradually building up your supply.


I was considering getting around an ounce a week to start with, possibly more, hopefully that'll be good to begin with.


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## Piston_Driven (Feb 10, 2015)

Collecting silver has always been in my blood. I've found that coin auctions are the place to buy silver and gold. I got 20 indian face/buffalo back rounds for 18 a piece at the last one. With the price being lower than usual I've been buying more silver than normal. It's a good deal at the moment.

An old friend of mine always said: "when you buy anything of value, forget what you paid for it and let it sit in a safe for your children to discover. It's worth more than its accual value that way."

My personal collection is somewhere over 250 pounds of silver and just under 2 pounds of gold. (Yes I said pounds and I am correct by saying that.) I mainly collect coins to assemble sets. It's become more of a hobby than a prep.. 

PD


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## jasonc (Oct 29, 2014)

Piston_Driven said:


> Collecting silver has always been in my blood. I've found that coin auctions are the place to buy silver and gold. I got 20 indian face/buffalo back rounds for 18 a piece at the last one. With the price being lower than usual I've been buying more silver than normal. It's a good deal at the moment.
> 
> An old friend of mine always said: "when you buy anything of value, forget what you paid for it and let it sit in a safe for your children to discover. It's worth more than its accual value that way."
> 
> ...


Is there any reason you measure in pounds? I had to do the calculations myself, and I could hardly believe how much it's all worth. That's a great collection!!


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## Piston_Driven (Feb 10, 2015)

jasonc said:


> Is there any reason you measure in pounds? I had to do the calculations myself, and I could hardly believe how much it's all worth. That's a great collection!!


I use pounds cause I used a "bathroom scale" and an old hanging scale to weigh it. They only weigh in pounds. Plus people give you funny looks when you say you have over 4,000 oz of silver......


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## jasonc (Oct 29, 2014)

Piston_Driven said:


> I use pounds cause I used a "bathroom scale" and an old hanging scale to weigh it. They only weigh in pounds. Plus people give you funny looks when you say you have over 4,000 oz of silver......


That's very true! But still, 4,000 Oz of silver certainly does sound better!!


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## 8301 (Nov 29, 2014)

A English Sterling pound is worth about $1.70 Still, I'd rather have what he has.... time to buy another lottery ticket.:torn:


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## Piston_Driven (Feb 10, 2015)

jasonc said:


> That's very true! But still, 4,000 Oz of silver certainly does sound better!!


It sounds great to me also! Just don't let my girlfriend know..........

Some food for thought to fellow coin hoarders out there: Once SHTF and hopefully when silver and gold becomes a general currency. Smaller silver coins may be of use. what if you meet a friendly and he wishes to trade with you. He has some clothing you would like cause the cotton Jin broke last week. Would you give up an entire once of silver for a t shirt? Even if it's not clothes.. for smaller item trades, 90% silver dimes and quarters might be of use. Just something to keep in the back of your head!

PD


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## jasonc (Oct 29, 2014)

Piston_Driven said:


> It sounds great to me also! Just don't let my girlfriend know..........
> 
> Some food for thought to fellow coin hoarders out there: Once SHTF and hopefully when silver and gold becomes a general currency. Smaller silver coins may be of use. what if you meet a friendly and he wishes to trade with you. He has some clothing you would like cause the cotton Jin broke last week. Would you give up an entire once of silver for a t shirt? Even if it's not clothes.. for smaller item trades, 90% silver dimes and quarters might be of use. Just something to keep in the back of your head!
> 
> PD


I currently have two rolls of pre-1964 dimes, which will hopefully be enough. I'm not planning on keeping the ounces, however, but if SHTF before silver hits like $40 an ounce, I should have quite a bit.


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## jasonc (Oct 29, 2014)

I just read an article about Utah making silver legal tender, is there anyone from Utah that can explain to me how that works? I was talking to a few people about it and I can't figure out how they can go about paying for things with a metal that fluctuates so much.


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## alterego (Jan 27, 2013)

jasonc said:


> I just read an article about Utah making silver legal tender, is there anyone from Utah that can explain to me how that works? I was talking to a few people about it and I can't figure out how they can go about paying for things with a metal that fluctuates so much.


The vast majority of the value fluctuations in PM that you see are caused by fluctuations in the value of the fiat currency that you use to pay for goods and services. Remember any commodity traded on a world stage is affected by price valuation of the currency that you are paying with.


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## alterego (Jan 27, 2013)

Silver is readily available in 100 50 10 1 1/2 1/4 and 1/10 and as far down as grams at any bullion store.

Call a silver Troy equivalent to 20 US currency dollars and the math is simply done.

When I become supreme chancellor gold will be 1000 per troy with Increment coins to tenths.
SILVER will be 20 per troy equivalent. 
Nickels will be five cents
Pennies will be made of copper again. And the mines in North Michigan will pump it out by the train car load.


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## jasonc (Oct 29, 2014)

alterego said:


> Silver is readily available in 100 50 10 1 1/2 1/4 and 1/10 and as far down as grams at any bullion store.
> 
> Call a silver Troy equivalent to 20 US currency dollars and the math is simply done.
> 
> ...


So all you would really have to do is set silver to a specific amount and it's finished?


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## alterego (Jan 27, 2013)

My weekly savings investment
20.13 for an engelhard flat
19.83 for a round art bar.


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## alterego (Jan 27, 2013)

jasonc said:


> So all you would really have to do is set silver to a specific amount and it's finished?


Volatility in the fiat currency is in part caused by insecurity from foreign countries who use our currency as the basis for exchange. Mostly for oil. Our policy of quantative easing has caused major trading partners to start dumping their currency reserves. It really started ramping up in August 2010. Their is less and less faith that the US dollar is a safe haven. If we pin the currency to an intrinsic commodity it will regain the faith lost. And gain another eon of control over world finance for the imperical west. If us currency reserve ever falls from grace our economy will fall with it.


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## jasonc (Oct 29, 2014)

alterego said:


> My weekly savings investment
> 20.13 for an engelhard flat
> 19.83 for a round art bar.


Is that your average cost, or the cost you're paying currently?


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## tango (Apr 12, 2013)

Remember--- after SHTF coins will not be dimes, quarters, etc., they will be "pieces of silver", and traded as ounces and portions thereof.


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## 98dot6 (Feb 10, 2015)

I used to invest in Silver & Silver mining companies years ago on the stock market, but sold it all and I think I actually lost about $10K total. So I am gun shy so to speak getting back into silver even at these prices. Speaking of gun shy, my significant investment (stock pile) of lead and brass has appreciated very nicely!


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## alterego (Jan 27, 2013)

jasonc said:


> Is that your average cost, or the cost you're paying currently?


Out the door cost today. It has been floating within a buck of this now for almost two months.


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## jasonc (Oct 29, 2014)

alterego said:


> Out the door cost today. It has been floating within a buck of this now for almost two months.


I feel like I got a super great deal at $18.63 an ounce then


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## alterego (Jan 27, 2013)

jasonc said:


> I feel like I got a super great deal at $18.63 an ounce then


You did.


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## Jakthesoldier (Feb 1, 2015)

jasonc said:


> Is that your average cost, or the cost you're paying currently?


I hope it's average, because I picked up 2 oz. today, a 1982 Engelhard prospector and a really cool little bar for 36.62


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## PatriotFlamethrower (Jan 10, 2015)

WTSHTF, how is the average Joe going to know whether an Engelhardt bar or a Silvertowne round is silver, or not? Most people don't know squat about silver and gold.

I believe that KEEPING IT SIMPLE is the way to go. Collect pre-1965 halves, quarters, and dimes. Mix in a few Silver American Eagles.

Right now, the premiums (price above spot) for pre-1965 coins and SAEs range from 20-40%.


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## Doc Holliday (Dec 22, 2012)

If I get up to Washington I will be buying these silver bars and rounds because you can break them into 1/4oz
I dont trust being mailed anything that costs alot of money so I wait until I pick it up in person..
Stagecoach Silver Bullion from Northwest Territorial Mint


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## jasonc (Oct 29, 2014)

I have spent the last few weeks snooping around eBay, and actually ordered a few things. I've been having a lot of fun buying silver, but I also do collect some coins and I really enjoy collectibles. Because my average price per ounce was so low, I decided to buy some more valuable coins that will still sell even if the price of silver isn't increasing. I bought a "Zombuck" silver ounce from Provident metals because I really liked it, and thought it was interesting and kinda fun.







I also have been buying some silver Eagles, and I think I ended up buying three, only one of which has arrived, which is just a 2015 in the presentation box that I got for $22.00, which I thought was a great deal.







I have two NGC First Release MS69 2015 Silver Eagles on the way, hopefully they'll be here next week. I paid $28 and $27 for those, which is fair for what they are.


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## PatriotFlamethrower (Jan 10, 2015)

I used to have a substantial silver coin collection. I had dozens of graded Silver American Eagles, and dozens of graded U.S. Mint commemorative silver coins, and silver bars and rounds and all kinds of other privately minted silver collectibles.

Then, I came to my senses and said to myself, "what the hell are you doing? You're throwing away extra cash on all of these graded coins, but WTSHTF, NOBODY is going to care if your silver is an MS-70 graded silver coin or if it's a circulated 1956 Franklin half dollar."

So I got rid of all of my "pretty" coins, and now all I accumulate are pre-1965 90% silver American coins and some Silver American Eagles (when I can find a good deal). And I ALWAYS buy my coins on e-Bay. I've NEVER been ripped off or had any kind of problem buying coins on e-Bay, and I have bought and sold upwards of six figures on coins via e-Bay.


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## jasonc (Oct 29, 2014)

PatriotFlamethrower said:


> I used to have a substantial silver coin collection. I had dozens of graded Silver American Eagles, and dozens of graded U.S. Mint commemorative silver coins, and silver bars and rounds and all kinds of other privately minted silver collectibles.
> 
> Then, I came to my senses and said to myself, "what the hell are you doing? You're throwing away extra cash on all of these graded coins, but WTSHTF, NOBODY is going to care if your silver is an MS-70 graded silver coin or if it's a circulated 1956 Franklin half dollar."
> 
> So I got rid of all of my "pretty" coins, and now all I accumulate are pre-1965 90% silver American coins and some Silver American Eagles (when I can find a good deal). And I ALWAYS buy my coins on e-Bay. I've NEVER been ripped off or had any kind of problem buying coins on e-Bay, and I have bought and sold upwards of six figures on coins via e-Bay.


I was thinking the same thing, which is why I have around 24 ounces, but only around 4 are collectable. I just bought the graded ones to sell in the future (if SHTF doesn't happen)


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## alterego (Jan 27, 2013)

Yesterday picked up Maple leafs for 19 each. Standard rounds were 18.25 each. I should have bought the cheaper but I fell like a fool and bought Maple leaves because they are really pretty. I will correct my own actions because I know better. A Troy ounce is a Troy ounce. It does not matter if it has a kangaroo maple leave eagle liberty buffalo or Krugeran on it when it sells.


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## jasonc (Oct 29, 2014)

alterego said:


> Yesterday picked up Maple leafs for 19 each. Standard rounds were 18.25 each. I should have bought the cheaper but I fell like a fool and bought Maple leaves because they are really pretty. I will correct my own actions because I know better. A Troy ounce is a Troy ounce. It does not matter if it has a kangaroo maple leave eagle liberty buffalo or Krugeran on it when it sells.


I would pick up so many Maple leafs for 19 each! You shouldn't be complaining about spending 19 an ounce, I just spent up to $28


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## PatriotFlamethrower (Jan 10, 2015)

alterego said:


> Yesterday picked up Maple leafs for 19 each. Standard rounds were 18.25 each. I should have bought the cheaper but I fell like a fool and bought Maple leaves because they are really pretty. I will correct my own actions because I know better. A Troy ounce is a Troy ounce. It does not matter if it has a kangaroo maple leave eagle liberty buffalo or Krugeran on it when it sells.


I would wager that at least 95% of Americans have NO IDEA what the hell a Maple Leaf is, or how much silver it contains, not to mention what a troy ounce is or what a Kruggerand is.

Keep it simple. Avoid the exotic coins and stick with what most Americans know, unless you plan on moving to Canada or South Africa or Australia.


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## jasonc (Oct 29, 2014)

PatriotFlamethrower said:


> I would wager that at least 95% of Americans have NO IDEA what the hell a Maple Leaf is, or how much silver it contains, not to mention what a troy ounce is or what a Kruggerand is.
> 
> Keep it simple. Avoid the exotic coins and stick with what most Americans know, unless you plan on moving to Canada or South Africa or Australia.


Then again, I'm not too sure that that many Americans would know about pre 1964 silver, either. I would bet there would be a lot of people that would prefer a beautiful bullion piece that says "one Troy ounce 9999 fine silver" over an ounce of old, dirty coins.


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## PatriotFlamethrower (Jan 10, 2015)

jasonc said:


> Then again, I'm not too sure that that many Americans would know about pre 1964 silver, either. I would bet there would be a lot of people that would prefer a beautiful bullion piece that says "one Troy ounce 9999 fine silver" over an ounce of old, dirty coins.


I'm sure you meant to type "pre-1965 silver".

I would wager that 95% of Americans know that quarters, dimes, half-dollars, and silver dollars minted before 1965 are 90% silver.

Most Americans probably do not know that 1965-70 Kennedy half-dollars contain 40% silver.

In today's counterfeit world, just about ANY country can produce fake ".999 silver" coins, not to mention fake ".999 gold" coins.


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## jasonc (Oct 29, 2014)

PatriotFlamethrower said:


> I'm sure you meant to type "pre-1965 silver".
> 
> I would wager that 95% of Americans know that quarters, dimes, half-dollars, and silver dollars minted before 1965 are 90% silver.
> 
> ...


Sorry, I meant to type 1965, this phone is so difficult to type on. 
But most of the younger generation of people is who I'm referring to, and the people who are new to the United States who don't know a thing about our currency. If you're further north than I am, it probably wouldn't be an issue then, but I think these people in bigger cities and closer to the border wouldn't know about it


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## PatriotFlamethrower (Jan 10, 2015)

jasonc said:


> Sorry, I meant to type 1965, this phone is so difficult to type on.
> But most of the younger generation of people is who I'm referring to, and the people who are new to the United States who don't know a thing about our currency. If you're further north than I am, it probably wouldn't be an issue then, but I think these people in bigger cities and closer to the border wouldn't know about it


You're probably right. I keep forgetting how OLD I am. LOL


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## 8301 (Nov 29, 2014)

PatriotFlamethrower said:


> I would wager that at least 95% of Americans have NO IDEA what the hell a Maple Leaf is, or how much silver it contains, not to mention what a troy ounce is or what a Kruggerand is.
> 
> Keep it simple. Avoid the exotic coins and stick with what most Americans know, unless you plan on moving to Canada or South Africa or Australia.


That's why I avoid the 90% silver coins. I suspect that American Eagles and Maple Leaf coins would be best since they are more recognizable. You can't eat them but once trade restarts they will hold some value.

Unfortunately I purchased my silver at more than $19/oz but at least I've got some "just in case" and if things go bad I figure their value will go up to more than I paid. At $19/oz I'm tempted to get more but other preps (larger solar system) and financial obligations like paying the power bill stand in the way.


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## Device Unknown (Jan 23, 2015)

First off, any registered gold and silver is subject to confiscation in case of national emergency. Second of all, if SHTF I can not feed my family with a silver bar. Nor barter with it. 
If I have a extra pound of beans and your hungry. Why would I want some worthless silver in trade? Have any salt? tools? hides? Meats? canned goods? vegetables? hardware? bullets? booze? 

Look at the countries, including ours where there has been economic collapse. Currencies and precious metals/stones mean very little.


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## DadofTheFamily (Feb 19, 2015)

@Device Unknown, you are correct. During the Balkan's War, it was barter. Food, fuel, water, guns. Jewelry was exchanged but not as a primary trading mechanism.


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## jasonc (Oct 29, 2014)

Device Unknown said:


> First off, any registered gold and silver is subject to confiscation in case of national emergency. Second of all, if SHTF I can not feed my family with a silver bar. Nor barter with it.
> If I have a extra pound of beans and your hungry. Why would I want some worthless silver in trade? Have any salt? tools? hides? Meats? canned goods? vegetables? hardware? bullets? booze?
> 
> Look at the countries, including ours where there has been economic collapse. Currencies and precious metals/stones mean very little.


I've been fearing that the same thing would happen, but I still think that silver would be of some value. For the last 5,000 years it has been used as currency, and if there was a short term emergency, like a week or so, people with extra supplies would definitely trade for something that is more valuable, like silver, especially if they are expecting things to go back to normal quickly.


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## PatriotFlamethrower (Jan 10, 2015)

Device Unknown said:


> First off, any registered gold and silver is subject to confiscation in case of national emergency. Second of all, if SHTF I can not feed my family with a silver bar. Nor barter with it.
> If I have a extra pound of beans and your hungry. Why would I want some worthless silver in trade? Have any salt? tools? hides? Meats? canned goods? vegetables? hardware? bullets? booze?
> 
> Look at the countries, including ours where there has been economic collapse. Currencies and precious metals/stones mean very little.


You are wrong on so many fronts. What is "registered silver"? No such thing. Gold, yes. Silver, no.

Gold and silver are NOT "subject to confiscation in case of national emergency". It takes an ACT OF CONGRESS in order for gold to be deemed illegal for private citizens to own, and even then any gold you have will be exchanged for an equal amount of U.S. dollars.

Historically, bartering is a short term fix when the currency of a country collapses, but the ONLY viable longer term solution is to establish a new currency based on precious metals.


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## Denton (Sep 18, 2012)

Device Unknown said:


> First off, any registered gold and silver is subject to confiscation in case of national emergency. Second of all, if SHTF I can not feed my family with a silver bar. Nor barter with it.
> If I have a extra pound of beans and your hungry. Why would I want some worthless silver in trade? Have any salt? tools? hides? Meats? canned goods? vegetables? hardware? bullets? booze?
> 
> Look at the countries, including ours where there has been economic collapse. Currencies and precious metals/stones mean very little.


You aren't seeing beyond the shelf life of barter items and are confusing real money (silver and gold) with barter items.


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## jasonc (Oct 29, 2014)

This beautiful NGC graded MS69 American Eagle just arrived... I still am quite impressed, I just saw one sell for $33.50 on eBay earlier this morning.


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## Ripon (Dec 22, 2012)

As a person with abundant farm land at his disposal, in a world of "SHTF" it would be my honor to feed as many people as I can. Doing so though will require some labor, getting it too those people may require labor and even security. While I may feel honored to help feed more people who I believe are deserving I doubt there are may willing to harvest, process and transport that food - just for the food they can eat. They will want something else in return, and so those who get fed best have something to contribute to those who bring it too them. I'm not taking paypal.


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## jasonc (Oct 29, 2014)

I know this was originally about investing in silver, but I've been considering some other things, and would love to hear your thoughts. 
I was looking around eBay the other day, and I came across some uncirculated $100 US bills, and they were being sold (and bought) for $115 even though it's just worth 100 dollars. That got me thinking, what about just investing in money/currency? I don't see any downside, especially if it's only a few hundred dollars of uncirculated bills you're going to put aside for a few years. Thoughts?


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## 8301 (Nov 29, 2014)

jasonc said:


> I know this was originally about investing in silver, but I've been considering some other things, and would love to hear your thoughts.
> I was looking around eBay the other day, and I came across some uncirculated $100 US bills, and they were being sold (and bought) for $115 even though it's just worth 100 dollars. That got me thinking, what about just investing in money/currency? I don't see any downside, especially if it's only a few hundred dollars of uncirculated bills you're going to put aside for a few years. Thoughts?


The moment you buy that $100 bill it will be officially circulated. I often pay people in cash and the bank gives me new $100 bills most times I make a withdrawal so why would anybody want to pay a $15 premium for one?.


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## Protect this House (Aug 12, 2013)

Back in 2003, I bought $1000 dollars worth of Iraqi Dinar when I was deployed over there. A few years back I sold most of it for double what I paid. Investing in currency could be lucrative, but its still a game of chance to an extent.


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## jasonc (Oct 29, 2014)

FoolAmI said:


> The moment you buy that $100 bill it will be officially circulated. I often pay people in cash and the bank gives me new $100 bills most times I make a withdrawal so why would anybody want to pay a $15 premium for one?.


I definitely would not pay $115 for a hundred dollar bill, but if other people will, I wouldn't mind making some money off them  I just think that if people are purchasing $1.00 bills from 1935 for 15x face value, the same will probably happen in the next 50+ years.


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## jimb1972 (Nov 12, 2012)

I usually buy from JMBullion or APMEX, usually 20 oz at a time. I have bought some 1/10th oz rolls but the markup per coin is prohibitive for any large amounts. If you already have food, water, and ammo, why not?


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