Silver, the peoples money |
Silver, the peoples money |
Jul 24 2013, 11:16 AM
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#1
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Master Mucker! Group: Admin Posts: 4,149 Joined: 7-October 03 From: Colorado Member No.: 3 |
Silver used to be refered to as the "peoples money" at one time.
With all the crazy economics world wide today, some say silver prices will align/rise to be more appropriate with not only gold but supply and demand for the precious metal. We use alot more than what is mined yearly with new uses also being found in technology, this will only continue to rise. silver to gold price ratio's historically have been quite varied from 15:1 and as high as 94:1. Currently (2012) running about 53:1 I know there are a few Colorado Prospetor's out there that would be really excited to see silver prices take off! Also, it's antibacterial.....so it's cleaner than green! How about you? Thoughts on the "peoples money"? -------------------- CP-Owner/Administrator
www.ColoradoProspector.com IF YOU USE IT, THE GROUND PRODUCED IT! MINERS MAKE "IT" HAPPEN!! |
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Jul 24 2013, 06:17 PM
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#2
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Diggin' In! Group: Members Posts: 34 Joined: 25-May 10 Member No.: 7,253 |
If you are going to invest in precious metals silver is the way to go it is extremely undervalued compared to gold. For something that occurs in the earths crust at a ratio of 16 oz of Ag to 1 oz of Au and is trading currently at a ratio of 65 oz of Ag to 1 oz of Au well hopefully you get the picture.
Gold will preserve your wealth but silver could grow it substantially. Would love to here others views on silver and gold investing. Thanks MDM (Chad) |
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Aug 13 2013, 10:52 PM
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#3
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Shovel Buster! Group: Members Posts: 53 Joined: 27-June 11 From: Summit County, CO Member No.: 21,601 |
If you are going to invest in precious metals silver is the way to go it is extremely undervalued compared to gold. For something that occurs in the earths crust at a ratio of 16 oz of Ag to 1 oz of Au and is trading currently at a ratio of 65 oz of Ag to 1 oz of Au well hopefully you get the picture. Gold will preserve your wealth but silver could grow it substantially. Would love to here others views on silver and gold investing. Thanks MDM (Chad) As an investor gold and silver are very different things. Silver has a lot of industrial uses so its value is influenced heavily by the manufacturing economy. Not true for gold, most of which is used in jewelry or as an investment. Big consumers of gold now include the growing middle classes of India and China so you have to watch the whole world now to predict gold prices...lots of moving parts! Here's an example: when the monsoon season in India is especially wet, the farmers across India see a bigger profit than usual (most times anyway). They spend that profit on gold jewelry for their wives and especially daughters. They are a big enough group that their demand affects the global supply of gold! This years monsoon is a wet one so that would suggest gold is headed up. At the same time though, the economic growth in China is slowing so middle class depend there has dropped. Anyone care to predict how this will turn out?? I will. The short term has too many changing factors to easily predict. Over the medium/long term, anxiety in the EU and US along with the macro trend toward growing middle class demand in the most populous countries on Earth will lead to a rising price trend. Phew! Any questions? -------------------- www.findingGOLDinColorado.com - my website with info on where to dig and where to see Colorado's gold mining history.
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Aug 14 2013, 10:13 AM
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#4
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Master Mucker! Group: Members Posts: 1,301 Joined: 17-February 12 From: Central CO Member No.: 41,357 |
Owwwwwwwww......... brain hurts............ I'd rather just watch gold get caught in a sluice.
-------------------- Caveman
Aulus Livius Maximus World Traveler, 7 Continent Walker LEVEL 3 LIFETIME MEMBER Referral Code: SE2104 |
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Aug 15 2013, 01:18 AM
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#5
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Shovel Buster! Group: Members Posts: 53 Joined: 27-June 11 From: Summit County, CO Member No.: 21,601 |
Owwwwwwwww......... brain hurts............ I'd rather just watch gold get caught in a sluice. LOL mine too ;) -------------------- www.findingGOLDinColorado.com - my website with info on where to dig and where to see Colorado's gold mining history.
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Aug 12 2017, 08:21 AM
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#6
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Rock Bar! Group: Members Posts: 563 Joined: 13-June 15 From: South of Gunnison in Gold Basin, Saguache County Member No.: 120,659 |
I found this old thread and thought it was a good one even after it's a few years old. Silver is still down and way overdue for an increase.
There are rich silver claims staked all over by big mining companies and they are just waiting for the prices to jump. Industry uses twice as much silver than is mined each year and the feds supply has dwindled. I find it interesting that in 1920, two mercury dimes would buy a gallon of gas. Today the silver in those two dimes will still buy a gallon of gas. In 1964 the minimum wage was $1.25. Today those 5 silver quarters are worth about $17. The dollar has dropped so much over the years with the massive printing that it's devalued our worthless dollar even more. The rise in metal prices reflect the drop and it's not hard to see although silver has been held back more than others. With all the protests about minimum wage and fair pay, don't you think they would want to fix the money? Most have no idea and it is estimated that less than 2 percent of Americans physically hold gold or silver. Throughout history, fiat currencies have had a 100 percent failure rate and ours won't be any different. There is a real value with a rare precious metals that has to be mined from the earth and no value in money that can be printed in mass quantities. When that silver train takes off I want to be on it! Just a thought! -------------------- Level 2 member -12/25/16
Referral code JL697 |
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Aug 12 2017, 05:38 PM
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#7
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Shovel Buster! Group: Members Posts: 130 Joined: 24-October 15 From: Colorado Springs Member No.: 121,949 |
I seem to recall some pretty silver you found this summer.......good note though. So you planning on digging it or investing in it?
-------------------- Rock: Climb it. Dig it. Build your house upon it.
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Aug 12 2017, 06:08 PM
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#8
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Rock Bar! Group: Members Posts: 563 Joined: 13-June 15 From: South of Gunnison in Gold Basin, Saguache County Member No.: 120,659 |
I'm always flexible when it comes to that but if prices ever took off I'd spend more time looking for it. Some gold is usually found along with rich silver lodes and I'd take that as a by product any day!
I wish it was easier to get to where I found that silver ore and it might be sketch in my Subaru but I bet there's alot more up there. It had nice little gold pieces in it but the silver overwhelmed the gold by far. I've crushed more than half the ore I brought home and got more but my pestle is busted now. -------------------- Level 2 member -12/25/16
Referral code JL697 |
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Oct 8 2017, 05:50 PM
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#9
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Rock Bar! Group: Members Posts: 563 Joined: 13-June 15 From: South of Gunnison in Gold Basin, Saguache County Member No.: 120,659 |
Just for everyone's info. Nationwide is having a deal while supplies last on 1/10 gold eagles for $115 each, maximum ten. They do try to upsell you on an ms70 collector coin but you don't have to buy it.
I don't like the upsell technique but the gold price is way cheap. Heres a link. https://www.nationwidecoins.com/buy-gold-silver-coins/ -------------------- Level 2 member -12/25/16
Referral code JL697 |
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Oct 8 2017, 05:55 PM
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#10
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Rock Bar! Group: Members Posts: 563 Joined: 13-June 15 From: South of Gunnison in Gold Basin, Saguache County Member No.: 120,659 |
Here are some other spot price deals or starter packs for less.
https://amp.reddit.com/r/silverbugs/comment...o_sell_bullion/ -------------------- Level 2 member -12/25/16
Referral code JL697 |
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Oct 9 2017, 01:00 PM
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#11
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Rock Bar! Group: Members Posts: 875 Joined: 25-July 14 From: Westminster, CO Member No.: 117,949 |
Just for everyone's info. Nationwide is having a deal while supplies last on 1/10 gold eagles for $115 each, maximum ten. They do try to upsell you on an ms70 collector coin but you don't have to buy it. I don't like the upsell technique but the gold price is way cheap. Heres a link. https://www.nationwidecoins.com/buy-gold-silver-coins/ Looks like a sweet deal; spot price is $1277 at the moment, so $1150 for 10 is a steal. The back of my head starts spinning with "if it seems too good to be true...". Have you bought from them before? How was the transaction if so? These guys didn't seem to like their experience: http://www.goldismoney2.com/threads/nation...mbs-down.17816/ -------------------- Lifetime Member
opera non verba "All courses of action are risky, so prudence is not in avoiding danger (it's impossible), but calculating risk and acting decisively. Make mistakes of ambition and not mistakes of sloth. Develop the strength to do bold things, not the strength to suffer." ~Niccolò Machiavelli Ref Code: EM448 |
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Oct 9 2017, 10:04 PM
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#12
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Rock Bar! Group: Members Posts: 563 Joined: 13-June 15 From: South of Gunnison in Gold Basin, Saguache County Member No.: 120,659 |
I've ordered from nationwide and they try to upsell you on an MS70 collector coin. Some quarter oz gold coin (st gaudens?) for 1250. I wasnt interested in that but they do try to sell it to you if they can. The guy I talked to wanted to sell that coin but apparently not bad enough. I offered him a whopping $700 hehe.
When you order they take all your info but they confirm by calling you and get your payment info over the phone. I've never done it that way with other dealers and I probably won't order from them again but the price was right so no big deal. $1188 with shipping is pretty good. My son got that deal too. -------------------- Level 2 member -12/25/16
Referral code JL697 |
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