See the Junk Silver Blog Here.
Gasoline prices are dropping. Which defies logic because of the hurricanes, increased driving with school starting, international problems and the host of other factors which cause gasoline prices to go UP rather than DOWN.
Same thing is happening with silver prices and namely what is happening in the junk silver aka pre-1964 U.S. silver coin market. (These coins have 90% silver content and thus are "real money". What's more, they are often found floating in the current money supply if you keep your eyes open).
Silver has been dropping the past month or so. My theory as to why? The economy, like it or not is staring to rebound. GDP was up and the economy is growing. When that happens, conservative investment demand, such as for precious metals, starts to drop. Investors may be putting their money into the stock and bond market hoping it will grow faster.
This means silver is down. Depressed? Hardly. This is one of those times you may want to consider taking advantage while the market is down. Most investors buy while a market is hot, pay too much and lose more later.
Not with silver and especially, junk silver. Find a good coin shop or precious metals dealer and purchase a few rolls of Mercury dimes and some Franklin quarters.
Click Here for the Junk Silver Blog.
Thursday, September 04, 2008
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2 comments:
Jim (comma) Rawles seems like a real nice guy. But I agree with the too much silver thing. Here is why..
Let's say we have a real "Rawlesian" SHTF incident. Most likely, silver and gold will have value in week two or three of the Event (greenbacks week one). Then things will go out the window and "lead" will be the most valuable of metals.
Now, let's say we have a national Katrina moment. Very realistic these days. Most likely cash will rule for some time, possibly months. (forget plastic cards). Precious metals and tangible stuff will have value as a way to get more cash.
Most merchants have no idea how much 1 oz of gold is today and will be reluctant to take it in all but extreme instances.
Finally, $1000 face is 77lbs I think. That's nearly 400lbs in my family alone. Ain't no bugging happening with that much weight.
Thanks for continuing to read and for stopping by to comment.
BTW - original question. I shoot for what I can afford. That means $100 face purchases at a time in the form of dimes and quarters only.
That is the best I can do right now and is the most manageable for my finances.
I am shooting for the following:
$5000 cash on hand.
$100 per family member junk silver.
1 oz. gold per family member.
More important..
1 year food and basic preps on hand for full family.
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