why

coin/silver gods must bless me with more silver. i barely have 2.5 tory oz's of silver. my parents think that buying gold and silver for the fuuture is dumb, and how gold and silver will drop blah blah blah. i hear storys of how people have hundreds of thousands of oz's and they say thats not enough, and i only got barely 2.5oz's . i hear how people avg 30-50 oz's every 1-2 weeks, me on the other hand try close to a 0.25 oz every 1-2 months!!! damn im so sc****. and they think crh is dumb too. oh coin gods why. bless me with me more silver so i dont have to die of starvation and live like a zimbabwean when the inevitable fiat money collapse comes. all i have to say is, i hope that it comes when im older and have a lot more precious metals. oh why. i hope to get more silver today.

 

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Sounds like you only have 2.5 ounces because silver is so outrageosly expensive these days. Wait for it to go back down to the $5-$7 range in the coming months and you'll be able to stock up just like the big players with deep pockets are able to do now.

 

ok, sounds good. will do. but ill keep buying a little ata time till my "pockets get deeper"

 

I've gotten most of my funds for PM with allowance money and occasionally filing papers at a relative's office, for which a receive $64 a day. By saving up, I have gotten to my current sum of 7.19 troy oz. of silver. Always remember that junk silver is your friend (hence why I have no bars or silver rounds).

 

Lets examine your fear of "when the fiat currency fails". Will real estate magically become worthless? Will your car? Will your personal belongings? No? Then why are you so worried about this? Yes, silver will retain value if your currency declines/fails, but so will all other assets. They only thing that would lose its inherent value would be the currency.

Please don't read doomsday websites and live your life in fear. If you wish to allocate some investment money to hard assets thats fine, but you cannot run around believing that everything you own that is not PM will be taken away from you some day. If for nothing else, its not a great way to live.

Chris

 

I heard a dealer here in Illinois who tries to move gold (especially commems.) as quick as he buys it. He tries to get a buck or two under fair value and sell no more than a buck over so it's easier to move. His though is exactly what you said paper money it has no where to go but down. He doesn't want to get stuck paying x amount and then have it worth half that in a few months. Market analysts were perdicting summer would bring 2K/try.ounce gold and 50-60/try.ounce silver. Instead we've had more corrections causing prices to recede instead so who knows. Hope they do go back down half or more of what they are now then I'll be a major buyer again. Until then I pick up no more than 5 silver coins at a time and no gold right now.

 

true ill still have my car and house but if my money is worthless, how am i supposed to make car payments, mortgage payments,pay for gas, etc.

 

I can assure you that if I could afford to buy 30-50 ozs every 1-2 weeks, I wouldn't be worried about what happens when the system fails. I don't personally know anyone stocking away that type of buillon. Thats 1-2k every 1-2 weeks?

 

An easy way to get silver that doesn't cost anything, is to roll search. You will not always get silver, but any you do get, you get at face value.

 

0.25 ozt of silver is less than $10. If it takes you more than a month to get discretionary funds to budget for this, you might consider small lifestyle changes (like cutting soda consumption in half) to save cash.

 

Actually paying for car payments and mortgage payments would be easy. Inflation/weakened dollar value benefits borrowers. Your mortgage would go from maybe $1500 in todays purchasing value dollars to maybe $400.

My main point was even if our dollar weakens, most of the stuff you need to live you already own. I don't see doomsday like many, (either guys wanting you to subscribe to their newsletter or sell you PM), would have you believe. I own silver and gold as diversification, but please believe me these same stories have been written and I have read them since the late 70's. May they be right someday? Maybe, but they have been wrong for a long, long time.

Chris

 

Some are doing it. The large coin show here was this weekend, and I personally saw transactions that buyers, (not dealers), were buying bag quantities of silver. OTOH, others were selling bags. One man came in with 4 bags of silver dollars to sell. There is some large money both buying and selling right now. Who knows who will be right. For full disclosure, I bought about half an ounce of gold, but that was because I wanted the coin, (the mexican one with the Mayan calendar, I got it for melt).

 

yea I'm on the fence about what to do...I'm mainly waiting for the price to go back up $35+ before I sell any...I do tend to believe what the ECRI have said cause well it's all based in the facts...

Recession to hit mid year of 2012


1. GDP growth flat lined at 1.5% since Q2 of 2011
2. personal income growth down
3.sales growth down
4.industrial production 22 month of as of january and since 1948

and we've always had a recession hit when the GDP goes under 2% and we are there...so...yea...
just wonder if all the stock market hoopla is just skyrocketing up then get a huge drop...or maybe no recession at all...and then no deflation...idk...

 

Whenever there is a big change in metal value, people look to change their position. Some get cold feet and dump their stockpile, others see it as a buying opportunity and buy those coins up. I too was at a coin show Saturday and saw an abundance, buckets, of Morgans selling for $25 and silver 1/2s going for $12.50. Last month someone in this sub forum said they would buy all the $28 Morgans they could get their hands on. So here is their chance.

I don't think it means however, in aggregate, that people are starting to pile up on silver. It's just changing one hand from another as people place their bets for the next move. I also think it means the dealers have thrown in the towel and are finally dumping the silver they bought last year at much higher prices. The Morgans were going for slightly less than melt. An amazing change in fortunes. Maybe it was the nice 80 degree weather on Saturday afternoon and this coin show was on the lake too.

 

Cost of living will rise faster than income. While it would seem like it would be easier to pay off with rising inflation, history has indicated the opposite. Rising (nominal) income is disproportionately spent (ie. more than offset) to maintain living standards, not pay down debt. Real income actually falls as nominal income rises. The Fed's vacuum cleaner sucks the wealth out of the economy.

 

silver will not be 5-7 dollars anytime soon...

matter of fact silver will never be 5-7 again.

 

I don't agree it will go back down to $5-7 again, but I also disagree its a "matter of fact". Wasn't it below $10 just a few years ago? Silver is not food or shelter, there is not life and death decisions based upon the need for it, and we live in a capitalist society, so there is never a "fact" that a certain commodity cannot go lower or higher than you think it will.

A whole, whole bunch of people in the 80's were also stating that silver would NEVER be below $10 again. That one didn't work out so well....

Chris

 

Interesting perspective though I beg to differ. But hey, that's ok and I like hearing other opinions. Get rid of the personal debt albatross around your neck; put your $ instead into gold, silver...your coin collection. Something you can hold in your hand. Tangible assets...

 

I'm not sure how a fixed-rate mortgage or car loan, which is a contract specifying a fixed nominal-dollar payment for a fixed number of months, would become harder to pay off with rising inflation. Sure, food and other consumables might go up faster than your income, but if your income goes up at all, the percentage of your income going to the mortgage would necessarily go down.

 

Major PM devaluation cycle? Not likely, but bring it on!

Silver below $10? First, a lot of cash is sidelined waiting for that down trend and will of course retard it substantially. Too bad most of what's traded is only on paper, that allows much greater swings in general.

Anyway, what would the price of gold/oil/corn/cattle be if Au dropped much or does someone think that gold:silver ratios would just spike and stay high? If such a ride down were more general in nature (probably), it would essentially be increasing the buying power of a cash position and income in general - a trade I'm more than willing to make.