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Originally posted by BABYBULL24
Anybody else invest in the poor man's gold?
Its back up over $33.60 an ounce.
I invest in the pre '64 US coins 90% silver coins mostly quarters - just figure if the crap hits the fan - you have silver pieces w/the US on them that you can trade with.
Originally posted by Wrabbit2000
reply to post by BABYBULL24
Realistically, if things fall so far that a new money isn't quickly instituted to replace the dollar, it's back to Barter-town for awhile regardless. That could very well happen in some areas of the nation. Particularly off the densely populated coasts if things fall apart in a serious way, IMO. What good will either gold or silver do in the near term?
Personally, I don't have the acids on hand to test gold and don't know....or have time to learn how to identify gold any other way. I'm guessing, I'm about average to most people in that way. Silver is worse. Aside from knowing silver is non-ferrous, so a magnet picking it up means the fight is on ( ) I wouldn't know from anything how to tell real silver in a SHTF situation... does anyone else?
I guess for the long term freeze of wealth that can be converted back when it's all over and society rebuilds a working financial system, it makes sense..but while times are hard, I still haven't figured out how I could accept it, let alone spend it among average people?
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Originally posted by therealdemoboy
reply to post by BABYBULL24
The advice I give my friends on "junk silver" (pre 64 quarters, dimes, etc. that have silver in them) is to collect, but never purchase in large quantities. You can get these at face value when you're lucky and with some work. Go to banks and buy rolls of quarters and dimes (again, you're "buying" them, but at face value. In other words you're trading your paper for the coins). Then go through them and collect the silver. You dont get a LOT this way, but you dont pay a premium - only time.
If you want to PAY for your silver, buy the .999 bullion coins from reputable dealers.
Just my .02