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<p>[QUOTE=&quot;Zuhara, post: 814997, member: 23099&quot;]I&#039;ve heard it said often that people never had the ability to cash in on the high physical prices of the late 70s/early 80s, but in my experience it wasn&#039;t true. There was time to do it, and some ordinary people did sell. I know I did. And there were articles in the newspaper about little old ladies melting down there silver teapots to sell into that price spike, so I wasn&#039;t the only one. That said, I know some who decided not to sell into the spike, because they were unsure about whether they would be able to buy back more cheaply later.</p><p>&nbsp;</p><p>I was a young kid learning jewelry making, so I was probably more aware of silver and gold prices than others, but among people I knew, ordinary people were aware of all these issues, and many ordinary people were buying. There wasn&#039;t any Internet, but there were newsletters, people were terrified of inflation, oil prices, and concerned about the US dollar. You could buy Krugerands, you could also buy Mexican pesos, and many of the Austrian Coronas on the market today are floating around from that era. People began buying right after it became legal, and quit as it became a general mania and prices went over $200, then $300, etc. There was time to get in, and there was time to get out as well. We did have life before the Internet!</p><p>&nbsp;</p><p>Even better, you could walk into a bank in NYC and buy your gold coins over the counter for a small premium. As for silver, it was mostly junk silver, but they started turning out bars as well. These you had to buy from a coin dealer. Premiums were lower than they were today.[/QUOTE]</p><p><br /></p>

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