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Re: OT: Have you purchased Gold or Silver coins?


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Posted by Mike (WA) on January 16, 2012 at 17:31:46 from (174.31.215.223):

In Reply to: Re: OT: Have you purchased Gold or Silver coins? posted by gun guru on January 16, 2012 at 13:31:59:

Many are thinking that silver is a better play than gold, because gold is just a precious metal, but silver is used extensively in electronics and industry, and the stockpile of silver is getting alarmingly low. Short sellers are manipulating the price of silver to keep it as low as possible, but at some point, industrial users will start bidding it up quickly. Idustrial users really have no substitute for it, but they don't need enough in relation to the price of their products to make the price very important to them- so they just bid it up, because they can't build their stuff without it.

"Junk coins"- pre-1964 dimes, quarters and halves, regardless of condition, is considered to be a good way to buy, because in a SHTF situation, a "black market" value will quickly be established so you can buy goods directly with the coins. Not so easy to do anything with bars or bullion.

Coins have traditionally been sold in "bags"- $1,000 face, which are now selling for about $22,000. They are usually now split into "half bags", because of the high cost, and the full bags push 50 lbs. so are hard to handle for some. 715 oz. of silver in a full bag. They sell at a premium over bars, because of the ease of using them as individual coins to buy stuff if it comes to that.


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