Official ODT Silver Thread

[Al Capone]

Also, if silver soars to over $50+ again where could you take your silver and cash in quickly at?

 

[Cadcom]

Know? Well now... Hmmm.

Based on history, currency has to have some real value. Paper money is for more advanced societal structures since it's ONLY value is in the collective belief of the people who use it. Lead is useful IF you can convert it to a useful form. Otherwise you are just carrying around a heavy, ugly material that has limited uses and is toxic to useless for all other purposes. Consumable commodities like salt, toilet paper and canned goods are greatly needed and useful to barter but you would consume yourself broke eventually. Copper, sure, but again, based on history, less valuable(although more commonly used) than silver or gold. Gold, of course but rarer and heavier. For me, silver is the middle ground and I believe it will prove to be the balanced currency medium.

By "a month or two" do you mean in the first month or two or do you mean after a month or two? The first month or two of a SHTF, people will be stealing, raiding and then forming communities that cooperate and barter. After there is some settling, a couple to a few months in, then barter will give way to some form of currency. Useful items will be currency at first, say bullets. They are portable and valuable. But they will become more and more valuable and "inflationary" as they are consumed. People who can't afford to part with the few rounds they have left will need some other method of paying for things. Again, history shows that for as long as there have been societies, there have been currencies and for most of that time, copper, silver and gold have served as the mediums of currency.

Good points. I was not looking at it long term. I am going to start picking some up here and there regardless. Thanks for the info in the thread as buying at the right time/price seems like a chore for the uninitiated.

 

[canoecanoe]

STOP THIS DISCUSSION! I am having trouble resisting the compulsion to buy more right now!

 

[Al Capone]

STOP THIS DISCUSSION! I am having trouble resisting the compulsion to buy more right now!

Do it! Group buy!

 

[Patronus]

Also, if silver soars to over $50+ again where could you take your silver and cash in quickly at?

Provident has a buy back price on their listings. But here's another reason that silver is a horrible "investment"...the buy back prices are usually $2 per ounce less than the sell price. So for you to break even, silver will have to go up by AT LEAST $3 an ounce. Between bid/ask difference and your shipping cost back to them.

You should also be able to locate local or regional assayers who would be buyers but again, they are not going to give spot. So the spot price has to go up HUGELY for you to profit minorly.

 

[Patronus]

STOP THIS DISCUSSION! I am having trouble resisting the compulsion to buy more right now!

LOL. I bought another $114 two hours ago. Bought 5 of the Molon Labe's and a "Year of the Ram" round.

 

[Patronus]

Good points. I was not looking at it long term. I am going to start picking some up here and there regardless. Thanks for the info in the thread as buying at the right time/price seems like a chore for the uninitiated.

Yes. But I will say that IMO THIS is the time to buy. If it goes lower I'm probably going to go sell SOMETHING so I can buy more.

 

[Cadcom]

Yes. But I will say that IMO THIS is the time to buy. If it goes lower I'm probably going to go sell SOMETHING so I can buy more.

Roger that!

 

[canoecanoe]

Also, if silver soars to over $50+ again where could you take your silver and cash in quickly at?

There are many outlets to sell your silver at. Remember that you need to buy low and wait until the price is up to sell. The "I buy Gold and Silver " shops generally only pay 80% of spot. On the rare occasion I have sold on ODT I was able to sell at a premium over spot and I was able to sell all I wanted to sell and then some. Also, people like Provident will buy it back, but again at a discount.

However if you buy now at current prices, you stand an excellent chance of selling at a profit in the future. I don't know when, but silver will again be at $35+ and maybe as high as $50. At those prices, selling at 80% of spot would look pretty good!

 

[Patronus]

. I don't know when, but silver will again be at $35+ and maybe as high as $50. At those prices, selling at 80% of spot would look pretty good!

Aww...you say the sweetest things!