Sorry, but there is no reason at this point in time to turn silver into a currency except to cause disorder in the economy. It is an industrial material used almost everywhere, including medicine.
As such, it's value is determined directly by supply and demand, and much of the demand is already in the form of fake coins sold by the hundreds of millions if not billions.
If silver were turned into a form of true currency, this would create a fake valuing system on it by creating a false demand on a limited supply product. Because of its widespread heavy use in industry it would cause a significant upheaval of industry across the board.
Gold is a much more useful form of currency, as its use in industry is quite limited with respect to its supply. It is used primarily in jewelry. Taking gold out of the system to turn it into currency would not significantly upend the industrial base. The amount of gold used in industry is very limited and any cost increase could be much more easily absorbed since many items are high value items that can absorb the fraction cost increase.
I'm not understanding the part about "much of the demand is already in the form of fake coins"? Why would there be a demand of fake coins? I can understand the fakers wanting to produce fake coins and try to sell them as real coins.
If silver really had a value of $1000 like some people try to claim, there would be nothing that would keep it in the low double digits range.
The only way that silver gains a valuation of $1000 is if governments fiat it as valued at $1000. Then we are only marginally better than the current fiat currencies we have.
How are those fake coins? They might not be considered legal tender, and I will say I'm unfamiliar with what that means, but those coins are 1 oz of silver and thus should be worth the going rate of 1 oz silver. There are legal tender coins. I think the 1 oz Canadian Maple Leaf says $5 on it, but no one in their right might would use 1 oz silver in exchange for $5, at least not at today's price.
It is a huge sink of demand for a product is the important part of what I am claiming. People just simply buying it for its pure intrinsic value of scarcity, hiding it away, increasing its scarcity. And even doing this does not increase its value.
How do you keep the price of sliver down to only a supposed value of 2% of what a person claims it should be ($1000) while having such huge demand placed on the silver?
They make real coins out of it too and sell to collectors. There is a massive jewelry demand on silver. There is a huge industrial demand on silver.
But with all these demands on a product that is slow to produce more and more of, people are screaming, enough so to downvote me massively, that it is under valued by 50 times.
Where is the depressed demand for silver to cause this difference? It does not exist, which is what my point is. There is lots of demand for silver, but the price is what the price is. How is its value being spiked down? What pressure? Can anyone explain that?
The only way silver could possibly end up with a value of $1000 is if there is a fake demand for it. The government would have to deem its value at $1000. It would have to FORCE people to demand it.
Gold on the other hand is a far superior form of money. Which is evidenced by the fact that almost none of the mined gold throughout history has ever been lost. When you look at silver, nearly 1/2 of all mined silver has been lost. Not valued enough to recover.
Anyways, I have read about 20 reports over 35 years arguing that silver is going to go BOOM, and the one thing missing from every single last one of them is the process by which silver demand spikes at such a rate that the value becomes some mythical multiple of what it was at the time of writing.
Sorry, but there is no reason at this point in time to turn silver into a currency except to cause disorder in the economy. It is an industrial material used almost everywhere, including medicine.
As such, it's value is determined directly by supply and demand, and much of the demand is already in the form of fake coins sold by the hundreds of millions if not billions.
If silver were turned into a form of true currency, this would create a fake valuing system on it by creating a false demand on a limited supply product. Because of its widespread heavy use in industry it would cause a significant upheaval of industry across the board.
Gold is a much more useful form of currency, as its use in industry is quite limited with respect to its supply. It is used primarily in jewelry. Taking gold out of the system to turn it into currency would not significantly upend the industrial base. The amount of gold used in industry is very limited and any cost increase could be much more easily absorbed since many items are high value items that can absorb the fraction cost increase.
All you did was explain that you don’t understand silver.
And all you did was attack me as a person rather than the argument I made.
Which one has more value?
I didn’t attack you.
I'm not understanding the part about "much of the demand is already in the form of fake coins"? Why would there be a demand of fake coins? I can understand the fakers wanting to produce fake coins and try to sell them as real coins.
https://sdbullion.com/silver/silver-rounds/1-oz-silver-rounds?p=1&product_list_order=price <------ fake coins. They sell hundreds of millions of them. And even with that demand the price still is not even close to what people claim it should be at.
If silver really had a value of $1000 like some people try to claim, there would be nothing that would keep it in the low double digits range.
The only way that silver gains a valuation of $1000 is if governments fiat it as valued at $1000. Then we are only marginally better than the current fiat currencies we have.
How are those fake coins? They might not be considered legal tender, and I will say I'm unfamiliar with what that means, but those coins are 1 oz of silver and thus should be worth the going rate of 1 oz silver. There are legal tender coins. I think the 1 oz Canadian Maple Leaf says $5 on it, but no one in their right might would use 1 oz silver in exchange for $5, at least not at today's price.
It is a huge sink of demand for a product is the important part of what I am claiming. People just simply buying it for its pure intrinsic value of scarcity, hiding it away, increasing its scarcity. And even doing this does not increase its value.
How do you keep the price of sliver down to only a supposed value of 2% of what a person claims it should be ($1000) while having such huge demand placed on the silver?
They make real coins out of it too and sell to collectors. There is a massive jewelry demand on silver. There is a huge industrial demand on silver.
But with all these demands on a product that is slow to produce more and more of, people are screaming, enough so to downvote me massively, that it is under valued by 50 times.
Where is the depressed demand for silver to cause this difference? It does not exist, which is what my point is. There is lots of demand for silver, but the price is what the price is. How is its value being spiked down? What pressure? Can anyone explain that?
The only way silver could possibly end up with a value of $1000 is if there is a fake demand for it. The government would have to deem its value at $1000. It would have to FORCE people to demand it.
Gold on the other hand is a far superior form of money. Which is evidenced by the fact that almost none of the mined gold throughout history has ever been lost. When you look at silver, nearly 1/2 of all mined silver has been lost. Not valued enough to recover.
Anyways, I have read about 20 reports over 35 years arguing that silver is going to go BOOM, and the one thing missing from every single last one of them is the process by which silver demand spikes at such a rate that the value becomes some mythical multiple of what it was at the time of writing.