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rp55
01-18-2013, 8:21 AM
Looks like guns and ammo aren't the only commodities in high demand.

From Zero Hedge (http://www.zerohedge.com/news/2013-01-17/us-mint-out-silver-coins-suspends-sales)

As we noted earlier this month, the demand for both gold and silver 'physical' coins has been record-breaking as 2013 began. So much so, that now after selling over 6 million silver coins in 2013 so far, the US Mint has run out of silver eagles and has suspended sales. Furthermore, the Mint is saying that it will not restart sales until January 28th! With all asunder proclaiming victory and crisis averted based on the nominal price of stocks at five-year highs, Swiss interest rates no longer negative, and Spanish bond yields at 5%, it seems there are still a few that demand the wealth-preserving safe-haven of hard assets as the escalation of the currency wars shows no sign of abating.

rberger2_99
01-18-2013, 9:11 AM
Crazy...Glad I already got my 2013 eagles and 2 limited edition silver proof sets. I was about to order a 20 coin eagle tube when I saw this notice on moderncoinmart.com. I hope the rush does not short or skew shipments for subscription holders, as these allocations should have been made well ahead of the general release. I guess only time will tell....

Jeepers
01-18-2013, 9:45 AM
hmmm i just put up some dupes out of my silver strike collection for sale, now i am having second thought that and might have to hang on to them just for the silver content ....

CEDaytonaRydr
01-18-2013, 7:38 PM
hmmm i just put up some dupes out of my silver strike collection for sale, now i am having second thought that and might have to hang on to them just for the silver content ....

DON'T DO IT! I've been buying Philharmonics and Maple Leafs. Silver is ridiculously undervalued; it's going to blow up in the next few years, guaranteed!!!

keenkeen
01-18-2013, 8:04 PM
DON'T DO IT! I've been buying Philharmonics and Maple Leafs. Silver is ridiculously undervalued; it's going to blow up in the next few years, guaranteed!!!

Well, as long as it is "guaranteed!!!" then I guess we can't go wrong...

CEDaytonaRydr
01-18-2013, 8:24 PM
Well, as long as it is "guaranteed!!!" then I guess we can't go wrong...

Read Michael Maloney's book! The writing is on the wall....

Gold doesn't have nearly the profit potential that silver does, and people have been buying gold like it's going out of style. Here's a tidbit from the book: If everyone in the world demanded silver from their investment portfolios, it would take the mines/producers 2 years to fill their orders! The banks physically could not do it, which would drive up the price even more. It's only a matter of time! Even at the $31, or so today, it's a bargain!

rberger2_99
01-18-2013, 8:40 PM
Palladium will soon be on the rise as well. Palladium is the most abundant un-mined metal (currently) of the PMG. While platinum and rhodium begin to plateau, palladium will begin playing a more major role in the industrial market and will soon begin to rise (as we have seen with gold and platinum over the past few years).

OHOD
01-19-2013, 7:33 AM
I've always been bullish on silver.
In fact, I've bought almost $10K of silver over the past few months. At every opportunity I buy some.
Currently have 80 ounces to be delivered and 20 ASE's on order. Since I made my order a while ago, I think the ASE's should be delivered...I hope.

Don't worry, I have a nice 401K...just diversifying the portfolio. :D

I know nobody likes Bill OReilly, but here is an excellent Talking Points video. He states that the $ will collapse and why, as well as some talk about social changes that need to be changed and etc.

http://www.foxnews.com/on-air/oreilly/index.html

So yeah, :shrug: take it for what you will.
I have seen the writing on the wall in 2008. Expect the FRN to collapse.

Decoligny
01-19-2013, 9:34 AM
Another good point is that silver is good for trade in a SHTF situation. Gold, not so much. Specifically because you don't want to have to pay $1,500 for a sandwich and a bottle of water. It is really hard to get someone to take a tiny sliver of gold off the edge of a coin in payment for a small value item. Fractional silver rounds are perfectly suited for trade in lower value transactions.

BOOGIEMAN
01-19-2013, 10:04 AM
the Twilight saga about vampires has ended, there is going to be another book coming out and it is going to be about werewolves. We all know what can kill werewolves. Right! Silverbullet. The gov't need to protect itself, hence it is now stashing silver. Everybody silver panic buy!!!!!!LOL!!!!!!!

blakdawg
01-19-2013, 1:32 PM
I have seen the writing on the wall in 2008. Expect the FRN to collapse.

http://research.stlouisfed.org/fred2/series/M2

I don't see how any other result is possible.

jt-cali
01-19-2013, 4:37 PM
DON'T DO IT! I've been buying Philharmonics and Maple Leafs. Silver is ridiculously undervalued; it's going to blow up in the next few years, guaranteed!!!

How recognizable are Philharmonics? The coins will only be of value if people recognize/know that they are pure silver. I've been sticking to maples and ASE. But the premiums are getting too high and considering getting some philharmonics instead.

Sanderhawk
01-19-2013, 4:54 PM
I would bet they are not out of silver they are out of the silver blanks to make the coin. They will manufacture more blanks and get down to business of making more coins.

Gabriel80
01-19-2013, 6:45 PM
How recognizable are Philharmonics? The coins will only be of value if people recognize/know that they are pure silver. I've been sticking to maples and ASE. But the premiums are getting too high and considering getting some philharmonics instead.

It's not hard to test silver. Stop by any one of your local "we buy gold and silver" stores (which are on every corner) they don't care what is stamped on the coin. A Troy ounce of silver is a Troy ounce of silver. Unless you collect for intrinsic value IMHO it doesn't matter what the design is.

jbohon
01-19-2013, 6:49 PM
so, to someone that has never ventured into buying silver, what would be a fair price right now for a 1oz coin? does the design really make that much of a difference?

AmmoCanMagnets
01-19-2013, 7:03 PM
so, to someone that has never ventured into buying silver, what would be a fair price right now for a 1oz coin? does the design really make that much of a difference?

Good questions... I've just recently started looking at getting into some silver myself after some discussions with some friends who are buying small amounts. I'm absolutely a Novice and know very little myself and hope to get educated too.

Of what I know, there is a "Spot" Price for Silver, which is the Market Price, more or less, and fluctuates with the market up and down on a minute by minute, hour by hour basis (like the stock market). It closed at about $31.85 an OZ.

I purchased a couple American Eagle Silver dollars at a local Coin Shop for $37 ish, and I see them in the $36-40 ball park online at many places depending on year, etc.

You can also buy Silver either in Bars, or "Junk Silver" (older coins), or a number of other ways...


I hope some the Silver Experts can chime in because I'm also interested in slowly adding some silver to my collection.

Gabriel80
01-19-2013, 7:03 PM
$1 or $2 over spot value. You'll really have to hold onto it for a while to make that $1 or $2 back and then longer there after to make a profit but shouldn't be hard. I know in LA i went to a coin store and if you spend over $1500 there is no sales tax. I've seen websites where the minimum buy is $2500.

jbohon
01-19-2013, 7:21 PM
The places that I've checked all seem to be selling 1oz coins for right around $37-$40. That is quite a bit more than $2 over spot. (if I understand it correctly) So where might someone look to find it at a reasonable price? Or have the prices become as inflated as ammo prices? I'd really like to get into this, but I don't want to pay exagerated prices...

also, is the no tax over $1500 thing a rule or was that some special deal?

Gabriel80
01-19-2013, 7:26 PM
I've paid up to $34/oz for silver coins (non eagles) and I feel a little suffered. If silver is $31/oz that means I spent damn 10% over the value. It has to be an investment, and I'll have to wait that much longer for the profit to roll in.

I'm still ok with it, I rather pay the lowest possible than pay the premium for the recognizable design. Some will disagree saying "it's so easy to counterfeit everything", but under that same logic silver eagles could be counterfeit too.

It's to my knowledge, while everything can be capable of counterfeit, 1oz coins are less likely to be faked compared to a 100oz bar that is filled in the center with junk metal. Just buy from a reputable store, mint or website and I think you'll be fine. I don't like the idea of buying on eBay. You can also check out kitco.com for lots of information, prices and an online store that caries every precious metal.

Malthusian
01-19-2013, 7:27 PM
You always pay a premium for the coin
I was buying them for $8 when silver was $5 an ounce

Gabriel80
01-19-2013, 7:29 PM
The places that I've checked all seem to be selling 1oz coins for right around $37-$40. That is quite a bit more than $2 over spot. (if I understand it correctly) So where might someone look to find it at a reasonable price? Or have the prices become as inflated as ammo prices? I'd really like to get into this, but I don't want to pay exagerated prices...

also, is the no tax over $1500 thing a rule or was that some special deal?

Check kitco.com online store for prices closest to spot. But call coin shops in your area. Ask them if they sell silver coins, you're looking for Troy ounce rounds or bars, and how much are they each? They SHOULD give you their price over the phone, no b.s. waste your time. Find the cheapest price and drive there.

As for the sales tax thing, I believe it's a state law. It differentiates the difference between someone buying for collection and novelty and someone buying for investment/money exchange. The state doesn't tax on the investment. To my knowledge!

64physhy
01-19-2013, 7:30 PM
Silver is forecasted to reach about $50/ounce this year and up to $150 in 2015. Hold onto it if you've got it. I think I'll be getting some more as soon as I get the funds.

jbohon
01-19-2013, 7:31 PM
ok, so would it be better to buy bars? Do you still end up paying the same premium?

Gabriel80
01-19-2013, 7:33 PM
ok, so would it be better to buy bars? Do you still end up paying the same premium?

Bars or coins, they're the same price and the same value. The only difference is their shape.

AmmoCanMagnets
01-19-2013, 7:44 PM
ok, so would it be better to buy bars? Do you still end up paying the same premium?

I just ordered a few of these....Scottsdale Silver 1 OZ (free ship, no Tax in CA) $35.27 - $37.39/oz (depending on Qty and Payment Method)

http://store.scottsdalesilver.com/product/38/1-Troy-Ounce---Special-Offering---Our-Choice

Gabriel80
01-19-2013, 7:49 PM
All different shapes sizes and stamps.

https://online.kitco.com/bullion/completelist_USD.html

rberger2_99
01-19-2013, 8:09 PM
ok, so would it be better to buy bars? Do you still end up paying the same premium?

Bullion coins and bars are are the same. When you get into coinage, meaning currency, there are numismatic values that compound on top of the silver value.

I have recently seen some sterling (.925) bullion copies out there that are very unclearly marked as .925. If you are using the silver spot price as your buying basis, be sure that you are purchasing .999 fine silver.

If you do endeavor to purchase .925, a good rule of thumb is to purchase at 85% - 90% of spot.

jbohon
01-19-2013, 8:22 PM
All different shapes sizes and stamps.

https://online.kitco.com/bullion/completelist_USD.html

Great selection, pricing and info, but $2500 minimum buy? Ouch... I'll have to give our local coin shop a call on Monday and see what they've got.

Gabriel80
01-19-2013, 8:43 PM
Great selection, pricing and info, but $2500 minimum buy? Ouch... I'll have to give our local coin shop a call on Monday and see what they've got.

I feel you, that's tough. One idea is to go in with a friend or two, split the minimum.

tcd511
01-19-2013, 9:44 PM
So whats better silver coins or silver bars or it doesn't matter? Being new to this where are some recommended places to buy from?

jbohon
01-19-2013, 9:50 PM
it seems that bars ans coins hold the same value. I did a google search and found several places that look pretty good. Right now I'm looking at Apmex because they only have a $50 minimum buy...

jbohon
01-19-2013, 9:53 PM
Here's one at $35.67 for a single ounce

http://www.apmex.com/Product/22/1_oz_Silver_Bar___Mint_Varies___999_Fine.aspx

tcd511
01-19-2013, 9:54 PM
it seems that bars ans coins hold the same value. I did a google search and found several places that look pretty good. Right now I'm looking at Apmex because they only have a $50 minimum buy...

I just registered on their site before I saw your response. Do you have any experience with buying any of the 1 and 5 gram bars? Just wondering if these would also something to be worth having since they are small and not 1 full troy ounce?

jbohon
01-19-2013, 10:08 PM
I was thinking they would be, if you needed them for bartering for small items.

swruger
01-20-2013, 10:02 AM
Pawn shops can be a good place to look for silver coins/bars as well. Commonly 1 or 2 dollars over current market rate, convenient, and are often right there on the way home from work. Make it a part of your monthly budget and include it in your savings account balance. They will be useful when the major earthquake hits California, if for no other reason.

whatmeworry
01-20-2013, 10:25 AM
I have used these guys before. As low as 0.99 over spot on silver (volume and cash price)

http://www.providentmetals.com/

jbohon
01-20-2013, 10:27 AM
Now there's a good idea I hadn't thought of. I'll have to look into local pawn shops. I'm not looking to get into silver for a retirement investment, I just think it would be useful when the paper dollar no longer has a value or you can't get money from banks or ATMs because of a large scale earthquake etc...

jbohon
01-20-2013, 10:33 AM
I have used these guys before. As low as 0.99 over spot on silver (volume and cash price)

http://www.providentmetals.com/

I'm going to have to look into these guys more. Not only do they have good prices, they have military branch silver rounds! I have to get one of these:

http://www.providentmetals.com/us-marine-corps-1-oz-999-fine-silver-bullion-round.html

wheels
01-20-2013, 10:45 AM
I'm going to have to look into these guys more. Not only do they have good prices, they have military branch silver rounds! I have to get one of these:

http://www.providentmetals.com/us-marine-corps-1-oz-999-fine-silver-bullion-round.html

Those are kind of cool - may have to get a couple for me and some other vets I know.

Also I've used Provident metals for several orders - all good results.

OHOD
01-20-2013, 2:17 PM
How recognizable are Philharmonics? The coins will only be of value if people recognize/know that they are pure silver. I've been sticking to maples and ASE. But the premiums are getting too high and considering getting some philharmonics instead.

As long as the coin/bar is marked .999 silver and the such, then your good to go.
I've bought and sold allot of silver over the years and one thing holds true, if it is not marked as silver, then you have a hard time selling it as silver. Junk silver is a little bit different.
The ASE is popular as both a collectible coin and is considered legal tender.

I just sent an email to my supplier, my ASE's will be on their way soon. :D

shafferds
01-20-2013, 3:28 PM
Fyi there are 32 grams in one ounce of troy silver. So dont buy grams at really anything more than a dollar if possible.

rp55
01-20-2013, 4:31 PM
Fergus the one-eyed Pug says, "Don't pay over spot for 90% coins!"
http://i83.photobucket.com/albums/j302/rpwhite55/fr/fergus03.jpg

jbohon
01-20-2013, 5:09 PM
Excellent advice Fergus. Thank you.

bigmike82
01-20-2013, 5:48 PM
One other thing to consider if you want to keep silver on hand for use during SHTF when normal currency is somewhat...devalued.

The 1/10 or 1/4 rounds may serve better for smaller items. For example...say you need toilet paper and the seller is willing to take silver. What's he going to give you change with for a pack of TP if you try to pay in 1oz coins?

CEDaytonaRydr
01-20-2013, 6:26 PM
How recognizable are Philharmonics? The coins will only be of value if people recognize/know that they are pure silver. I've been sticking to maples and ASE. But the premiums are getting too high and considering getting some philharmonics instead.

They're immediately recognizable. They're bullion coins with purity stamped on the coin. Same as Maple Leafs...

jbohon
01-20-2013, 6:29 PM
One other thing to consider if you want to keep silver on hand for use during SHTF when normal currency is somewhat...devalued.

The 1/10 or 1/4 rounds may serve better for smaller items. For example...say you need toilet paper and the seller is willing to take silver. What's he going to give you change with for a pack of TP if you try to pay in 1oz coins?

My wife and I were discussing this just a few hours ago. I think it might be wise to stock up on different weights so that we wouldn't have to pay $30+ for a roll of toilet paper.

jt-cali
01-20-2013, 7:08 PM
They're immediately recognizable. They're bullion coins with purity stamped on the coin. Same as Maple Leafs...

When I say recognizable, I meant more along the lines of well known by most people and trustworthiness. Let's say SHTF happened, no electricity and the internet is down. If someone were to offer you 30 - 1oz silver rounds stamped with .9999 silver, from the Republic of Cucamonga, for your Glock 17, would you take it?

Just going by the silver stamp doesn't seem prudent. Even with ASEs and maples, I would compare them to known coins I have to make sure they are not counterfeit. Actually, I measure the dimensions and weigh my coins when I get them. But in SHTF situations, you might not have access to these information to verify. Hence, my question about Philharmonics being generally recognized as a trusted source or will most people not know where they're from.

jbohon
01-20-2013, 7:30 PM
Here's another thought I had. If I had to use silver to barter or trade, wouldn't it be better to have bars in various weights rather than coins? To someone that didn't understand the value of silver, they may think my ASE was only worth the $1 that is printed on it. My concern is that I may have a hard time convincing someone that grew up with low value coinage that the coin I'm presenting is actually worth $30+... Thoughts?

http://www.apmex.com/Resources/Catalog%20Images/Products/72459_Rev.jpg

CEDaytonaRydr
01-20-2013, 7:40 PM
When I say recognizable, I meant more along the lines of well known by most people and trustworthiness. Let's say SHTF happened, no electricity and the internet is down. If someone were to offer you 30 - 1oz silver rounds stamped with .9999 silver, from the Republic of Cucamonga, for your Glock 17, would you take it?

Just going by the silver stamp doesn't seem prudent. Even with ASEs and maples, I would compare them to known coins I have to make sure they are not counterfeit. Actually, I measure the dimensions and weigh my coins when I get them. But in SHTF situations, you might not have access to these information to verify. Hence, my question about Philharmonics being generally recognized as a trusted source or will most people not know where they're from.

If a person is too stupid to know what the ".999" on the coin means, then they're not going to not know that a pre-65 quarter is silver either. :rolleyes:

...but hey, don't buy them! (More for me)

jt-cali
01-20-2013, 7:48 PM
Here's another thought I had. If I had to use silver to barter or trade, wouldn't it be better to have bars in various weights rather than coins? To someone that didn't understand the value of silver, they may think my ASE was only worth the $1 that is printed on it. My concern is that I may have a hard time convincing someone that grew up with low value coinage that the coin I'm presenting is actually worth $30+... Thoughts?

http://www.apmex.com/Resources/Catalog%20Images/Products/72459_Rev.jpg

That's what 90% silver coins are for, smaller denominations.

Yes, your concern is similar to mine about Philharmonics. The population that knows the value of silver bullion coins is probably not high. At least with ASEs, they are from the USA and most will probably trust it. But for less known coins from other countries, they might not readily accept them. What good will it be in SHTF if others don't recognize it?

jt-cali
01-20-2013, 7:49 PM
If a person is too stupid to know what the ".999" on the coin means, then they're not going to not know that a pre-65 quarter is silver either. :rolleyes:

...but hey, don't buy them! (More for me)

What good are the coins if you can't trade them for food that the stupid people have?

And look at what smart people are doing...
http://www.cointalk.com/t202941/

CEDaytonaRydr
01-20-2013, 7:51 PM
What good are the coins if you can't trade them for food that the stupid people have?

You're right! You know everything. Point taken. Don't buy any then...:facepalm:

Gabriel80
01-20-2013, 8:43 PM
Omfg, just buy bullets, they will be much more valuable (and useful) in the situations described here! LoL

keenkeen
01-20-2013, 9:12 PM
Fergus the one-eyed Pug says, "Don't pay over spot for 90% coins!"
http://i83.photobucket.com/albums/j302/rpwhite55/fr/fergus03.jpg

Fiona the Original one-eyed Pug, concurs:

http://i1214.photobucket.com/albums/cc488/chiggs70/photo-3.jpg

jdben92883
01-25-2013, 4:53 AM
When SHTF, the general population is completely screwed anyways. Debating whether or not they are going to be able to identify 90% silver, 40% silver, certain bullion, etc, is irrelevant. If it comes to the point where you will need to deal with a general population member to get goods you need the harsh reality is that you'll simply probably what you want by force.

Denomination is a very real issue. 1oz silver is a lot better than 100oz bars. Large bars are good for storage, but horrible for trading. Similarly, stacks of $100's in the safe is a poor choice for trading. Remember when McAfee made it back to the States a "friend" delivered him a large stash of $5's? I personally favor 90% coins as they are highly divisible. I also bought a bazillion recent Proof kits and broke them apart to make rolls of 90% coins. Just like crows, people like things that are bright and shiny.

My wife came here from Laos as a refugee. Her parents were "important" people and the entire family was marked for death. She can describe first-hand the impracticality of large currency as the family snuck out of Laos and spent time in the camps in Thailand.

olhunter
01-25-2013, 9:45 AM
I've noticed that most vendors sell 90% junk silver coins by face value of the coins.

I don't really want to bust out the scale, so are you getting your money's worth by weight or is there a premium for numismic value?

How do I know if $100 face value dimes/quarters is a good value vs bars?

AmmoCanMagnets
01-25-2013, 9:51 AM
I've noticed that most vendors sell 90% junk silver coins by face value of the coins.

I don't really want to bust out the scale, so are you getting your money's worth by weight or is there a premium for numismic value?

How do I know if $100 face value dimes/quarters is a good value vs bars?

This will give you the "Silver Value"...Not sure how numismatic value is calculated.

http://www.coinflation.com/coins/silver_coin_calculator.html

biscuitbarrel
01-25-2013, 10:25 AM
Fiona the Original one-eyed Pug, concurs:

http://i1214.photobucket.com/albums/cc488/chiggs70/photo-3.jpg

Looks like a match made in Heaven! PS props for teaching your dogs to post on Calguns.

rberger2_99
01-25-2013, 11:41 AM
This will give you the "Silver Value"...Not sure how numismatic value is calculated.

http://www.coinflation.com/coins/silver_coin_calculator.html

I use the Red Book as a baseline reference for numismatic value. Published annually, and is generally within 10% of the market driven sales price for collectors. The reference values do not generally apply to those purchasing for melt or scrap value.

http://www.amazon.com/The-Official-2013-Red-Book/dp/B0088YV34C/ref=sr_1_2?ie=UTF8&qid=1359146406&sr=8-2&keywords=2013+red+book+coins

jbohon
01-25-2013, 11:45 AM
I've noticed that most vendors sell 90% junk silver coins by face value of the coins.

I don't really want to bust out the scale, so are you getting your money's worth by weight or is there a premium for numismic value?

How do I know if $100 face value dimes/quarters is a good value vs bars?

Do you mind telling me where you're finding them at face value? This seems like it would be a great deal.

echo1
01-25-2013, 12:08 PM
Last time I checked Kitco was out or not offering 90% $100 face value bags Last month I jumped into the foray and picked up a couple sacks from them and another couple from a local vendor. Of course the price went down a little right after my purchases! But at least I filled a void in my barter starter. Yes it's not all roses out there and we haven't seen the worst yet. Hi OHOD. PAX

olhunter
01-25-2013, 12:38 PM
Do you mind telling me where you're finding them at face value? This seems like it would be a great deal.

lol...that would be awesome.

They package them by face value. $100 bag of dimes is 1000 dimes, but they charge based on silver value and whatever else. That bag is about $2400.

jbohon
01-25-2013, 3:18 PM
lol...that would be awesome.

They package them by face value. $100 bag of dimes is 1000 dimes, but they charge based on silver value and whatever else. That bag is about $2400.

Got it. Don't I feel dumb. Well, something new learned.

CEDaytonaRydr
01-25-2013, 3:50 PM
Denomination is a very real issue. 1oz silver is a lot better than 100oz bars. Large bars are good for storage, but horrible for trading.They make 10oz bars that are pretty good, though. I have a combination of 1oz coins and 10oz bars, at the moment. Also, keep in mind that if you buy over $1500, you don't have to pay tax.

Similarly, stacks of $100's in the safe is a poor choice for trading. You're also losing money on them with every passing day, due to inflation and the falling value of the dollar.

Part of this is prepping for civil unrest and the other part is securing your future, regardless. If the economy tanks, how are you going to protect your 401k? You have to invest in precious metals to protect your assets. Some of those assets should be held physically, by you. With gun owners, it's easy! Most of us have safes anyway...

kb58
01-25-2013, 4:19 PM
If there's a run on silver such that vendors are out of stock, why hasn't the price risen much? "Out of stock" wouldn't result in only a ~10% price rise.

CEDaytonaRydr
01-25-2013, 4:27 PM
If there's a run on silver such that vendors are out of stock, why hasn't the price risen much? "Out of stock" wouldn't result in only a ~10% price rise.

Its a bad economic signal, so the government and the media are doing a good job of keeping the story under wraps. They can only do so much, though. When the story becomes big new internationally, speculation will begin and blow the prices sky high. It's the same reason why gold has dipped almost $100 from it's previous high point.

keenkeen
01-25-2013, 4:38 PM
Its a bad economic signal, so the government and the media are doing a good job of keeping the story under wraps. They can only do so much, though. When the story becomes big new internationally, speculation will begin and blow the prices sky high. It's the same reason why gold has dipped almost $100 from it's previous high point.

Oh yeah, they are really "keeping it under wraps"...

http://lmgtfy.com/?q=U.S.+mint+runs+out+of+silver+news

:rofl2::rofl2::rofl2:

kb58
01-25-2013, 5:00 PM
When SHTF, the general population is completely screwed anyways. Debating whether or not they are going to be able to identify 90% silver, 40% silver, certain bullion, etc, is irrelevant. If it comes to the point where you will need to deal with a general population member to get goods you need the harsh reality is that you'll simply probably what you want by force.

Denomination is a very real issue. 1oz silver is a lot better than 100oz bars. Large bars are good for storage, but horrible for trading. Similarly, stacks of $100's in the safe is a poor choice for trading. Remember when McAfee made it back to the States a "friend" delivered him a large stash of $5's? I personally favor 90% coins as they are highly divisible. I also bought a bazillion recent Proof kits and broke them apart to make rolls of 90% coins. Just like crows, people like things that are bright and shiny.

My wife came here from Laos as a refugee. Her parents were "important" people and the entire family was marked for death. She can describe first-hand the impracticality of large currency as the family snuck out of Laos and spent time in the camps in Thailand.

Tt's this sort of thing I wonder about as well. Everyone talks about how important it is to have some PMs on-hand. Okay, so you have some, SHTF happens, and eventually people start meeting at some sort of barter-based open market. So one days you want to buy a chicken, how much PM is that? Obviously the weenie answer is: whatever buyer and seller agree to. My point is that if you have a piece of PM of completely unknown and arbitrary worth - it makes NO difference what you paid for it if the seller thinks it's of no value. Remember, communications is down so world worth can't be checked. Do you weigh it? With what? Even if you do, so it's X ounces, and then what? How does the seller know that it's pure? Is it worth face value, or 1000X that because of the dire situation?

I honestly don't know and am wondering how that could pan out. In the case of your Laotian wife, even when things got bad there they could go into town and find out what the exchange rate for whatever currency was in use because there was communications with the outside world (I assume.) But in this wonderful mythical world of SHTF that doesn't exist. So where does that leave the buyer and seller... right back to it being completely arbitrary, which really thows "worth" out the window as far as what was paid for it originally.

rodeoflyer
01-25-2013, 5:13 PM
This same situation happened early last year too. They will be back in production in no time.

Silver was supposed to hit $50 some time ago too. It got close, and then it plummeted back down again.

For newbs reading this thread freaking out thinking they have to go out and pay stupid prices for silver - DON'T. Do some research and be smart. Don't blow your wads panic buying.

1GunLover
01-25-2013, 5:49 PM
Just wait silver will pass up gold value in the future... Silver is used as a everyday commodity where gold is not. Silver will be more rare than gold plus most silver is already minned. ;)

keenkeen
01-25-2013, 5:51 PM
This same situation happened early last year too. They will be back in production in no time.

Silver was supposed to hit $50 some time ago too. It got close, and then it plummeted back down again.

For newbs reading this thread freaking out thinking they have to go out and pay stupid prices for silver - DON'T. Do some research and be smart. Don't blow your wads panic buying.

Wait...you mean silver is not the new ammunition?

:D

RTE
01-25-2013, 7:19 PM
QUOTE=keenkeen;10321335]Wait...you mean silver is not the new ammunition?

:D[/QUOTE]

http://silverbulletbullion.com/

IVth Horseman
01-25-2013, 7:43 PM
^ Those are awesome!

jt-cali
01-25-2013, 9:18 PM
Tt's this sort of thing I wonder about as well. Everyone talks about how important it is to have some PMs on-hand. Okay, so you have some, SHTF happens, and eventually people start meeting at some sort of barter-based open market. So one days you want to buy a chicken, how much PM is that? Obviously the weenie answer is: whatever buyer and seller agree to. My point is that if you have a piece of PM of completely unknown and arbitrary worth - it makes NO difference what you paid for it if the seller thinks it's of no value. Remember, communications is down so world worth can't be checked. Do you weigh it? With what? Even if you do, so it's X ounces, and then what? How does the seller know that it's pure? Is it worth face value, or 1000X that because of the dire situation?

My take is right after SHTF, no one will will do much trading with PMs. It will most likely be just trading necessities for necessities. But after things stabilize a bit, more surplus supplies exist, then more trading will happen. Only when more trading happens will the use of real money (PM) happen or become more convenient than bartering..

US 90% silver coins have known silver weight (.723oz per $1 face value). Bullion coins like the American Silver Eagle and Canadian Maple are 1oz. There are lots of other billion coins out there, but will people not familiar with them trust their authenticity, I don't know. How much an item is worth in silver or gold will be determined after SHTF, and how limited the supply is.

I started investing in PM as a hedge against a falling US dollar. Not so much for SHTF, but more for a financial meltdown. But maybe they're one and the same thing. If there's a US financial meltdown, maybe Canada or Mexico won't be affected as much and PMs can be used to trade over there when our paper money is worthless.

1GunLover
01-25-2013, 9:53 PM
http://silverbulletbullion.com/

Thats just Bad @$$

Gabriel80
01-25-2013, 10:00 PM
http://silverbulletbullion.com/

Thats just Bad @$$

Very cool! Coming soon .22 1/4 oz, 7.62 2oz, and 12g 5oz!

ogarcia_02
01-25-2013, 10:17 PM
What would you guys recommend for a noob with an extra $200? I don't want to walk into a store and get ripped right away lol.

Gabriel80
01-25-2013, 10:29 PM
What would you guys recommend for a noob with an extra $200? I don't want to walk into a store and get ripped right away lol.

But a few Troy ounces of pure (.999) silver.

You won't get ripped if you call a couple stores and get prices over the phone. Research what the days value of a Troy oz is and try pay as close to that value as possible. You should be able to get 5-6 ounces.

CEDaytonaRydr
01-25-2013, 10:37 PM
Oh yeah, they are really "keeping it under wraps"...

http://lmgtfy.com/?q=U.S.+mint+runs+out+of+silver+news

:rofl2::rofl2::rofl2:

:rolleyes:

Yeah, that's only just now. The fact that the US mint has run out of silver is almost impossible to ignore. Where were the wide-spread reports on the rise in silver prices from just below $5 (in 2003) to nearly $10 (in 2006). It doubled in value in 3 years! Then, from 2006-2008, it more than doubled from just under $10, to more than $23. Now, it's worth nearly 7 times what it was in 2003, and the ONLY story we hear about silver is that the US mint is out of coins...?

Sure man... The media has been all over this! :sarcasm:

jt-cali
01-25-2013, 11:43 PM
What would you guys recommend for a noob with an extra $200? I don't want to walk into a store and get ripped right away lol.

In addition to checking your local stores suggested above, you might want to check out some coin ads in the NRA magazines. I think I saw one selling for 2.50 above spot with free shipping for 3 eagles. Note that they will call you back later to sell you more :-). I think it might be a better deal than local stores as you will get charged sales tax if you buy less than $1000 locally.

Linh
01-26-2013, 11:05 AM
2013 ASE are CURRENTLY available at Apmex

wpage
01-26-2013, 1:47 PM
Have faith in our Gov!

CEDaytonaRydr
01-26-2013, 10:13 PM
2013 ASE are CURRENTLY available at Apmex

They are also available at Liberty Coin.