How about a Gold and Silver thread for all us doomers?

[Docscurlock]

Maybe my hoarding of silver quarters will start paying off. Anyone else out there a gold or silver bug?

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[Hack]

I stay away from commodities based on dad's advice.

 

[Docscurlock]

I stay away from commodities based on dad's advice.

Please share this advice, My Grandpappy gave me some advice one day, Said, "Be careful about arguing with stupid people because after a while people won't be able to tell the difference".

 

[Docscurlock]

I stay away from commodities based on dad's advice.

So, is Gold and silver a commodity or currency?

 

[Hack]

Please share this advice, My Grandpappy gave me some advice one day, Said, "Be careful about arguing with stupid people because after a while people won't be able to tell the difference".

Sorry - I think I worded that poorly. He basically said there's a high risk in commodities and his advice was to stay away. I don't see any issue with holding old coins, but buying/investing in gold or silver is risky.

So, is Gold and silver a commodity or currency?

I would classify it as a commodity. Usually currency doesn't have gold or silver anymore. And if you're collecting old currency the value isn't as currency - then it's either a collectible or the value is based on the value of the metal.

 

[Docscurlock]

Sorry - I think I worded that poorly. He basically said there's a high risk in commodities and his advice was to stay away. I don't see any issue with holding old coins, but buying/investing in gold or silver is risky.



I would classify it as a commodity. Usually currency doesn't have gold or silver anymore. And if you're collecting old currency the value isn't as currency - then it's either a collectible or the value is based on the value of the metal.

Nope, straight up bullion.

 

[HoosierDaddy]

Maybe my hoarding of silver quarters will start paying off. Anyone else out there a gold or silver bug?

I never understood buying gold or silver COINS as protection against an economic collapse. I mean they cost a fortune in relation to the gold or silver in them and in a post apocalyptic world, I wouldn't expect a lot of numismatists lining up to trade you food for them.

 

[Docscurlock]

I never understood buying gold or silver COINS as protection against an economic collapse. I mean they cost a fortune in relation to the gold or silver in them and in a post apocalyptic world, I wouldn't expect a lot of numismatists lining up to trade you food for them.

Because they are pretty? Why does one drive a mustang, they are less than practical for normal transportation. Not sure what use they would be in the post apoctolyptic world but everyone around here seems to have one, or 7. Junk silver coins are the cheapest way to collect and store precious metals.

 

[Phoenix]

i had 20oz of bullion i sold at 16.50 shortly after christmas. glad i did. i have some silver eagles now that ill hold onto.

 

[Docscurlock]

i had 20oz of bullion i sold at 16.50 shortly after christmas. glad i did. i have some silver eagles now that ill hold onto.

"Yeah, silver has always been a dog.

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