This is a lesson some learn the hard way. Even in March 2020 the market for the two was drastically different. In a full economic collapse an exchange to trade in paper may be inaccessible, it may be confiscated by the government for the “national interest”, or the paper deemed flat out worthless if there’s fuckery by whoever is holding the metal.
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Oh yeah... paper is always worthless in the end.
But if you are buying silver... buy up old coins. They are much easier to use if you ever need them for buying or barter when money is useless.
At this point if you are looking to profit and have no knowledge of how this system works odds are you will lose. The big guys are going to work something out. They are cunning. If you are in it just to YOLO then you are winning.
The big guys are the ones bent over taking it up the poop shoot. This will be painful for them. Average Joes with common sense, will kick some demon ass.
Another consideration for those buying hundreds or thousands of ounces. While it’s easiest to buy and work with 100oz bars, it may be worth buying some in a smaller denomination. They’ll be more liquid and useful in a collapsed market or if the system goes down.
I only buy junk silver (90% content) or fractional ounce bullion for that primary reason; plus, it's all I can afford to do right now.
I wouldn't buy 100 in a bar unless that was the only way to 100. It's much easier to sell smaller amounts if you need to.
...or use the smaller amounts to trade for something of value to you, that you need.
best plan for anyone who wants to crash the system hypothetically would be to buy smaller denominations only
large good delivery bars will be melted down into planchettes to mint rounds and meet that demand
Lessons will be learned. Very very quickly.
Ampex on ebay NOW https://www.ebay.com/itm/1-oz-American-Silver-Eagles-1-BU-Coins-Random-Year-Lot-Tube-Roll-of-20/113999890929?epid=672656763&hash=item1a8aec49f1:g:gX8AAOSwRtBev3zX has them for sale. Just over 40 bucks per oz. US $809.29 for 20
Possession is 9 tenths of the law, and if you buy physical you have receipts to show it and the actual product. Any other claim to it is meaningless.
Usually. But when push comes to shove, governments have a habit of declaring it to be theirs. The US government has even done this in the past. At that point your ability to own it is linked to your ability to conceal it.
Physical purchases are crucial, especially if we want to stop the manipulation and punish the banks. The more we the people hold, the less the banks have to work with to manipulate.
I never understood why people bought gold stock as a “safety plan”. Exchange paper for paper. The fact that all of these gold buying companys popped up over night should have made if very obvious you should keep your gold.
I know it's a different scenario, but do you frens remember when the EU decided the British expats who retired to Greece didn't have the right to take their retirement funds with them to Greek banks, so they went in and summarily confiscated HALF of the funds in the expats' accounts?!
I remember that. In one fell swoop a governmental body decided to take the funds and there wasn't a damn thing anyone could do to stop it or recoup their losses.
What's that you say? But HumblePede, that's Europe. It could never happen here. Well, at this point we're seeing so many things happen in the US we never thought we would see that we can't rule anything out.
Physical precious metals in the hand are worth way more than those in certificate form if your intent is to have something of actual value if the SHTF.
All bets are off when SHTF. The government and the banks will take anything and everything to remedy the situation. Vaults of investment bullion just sitting there will be too tempting to them. They’ll replace your paper silver certificate with paper money as compensation.
The paper and real market is already diverging. On Thursday I could buy actual silver at $39/oz (Canadian dollars) or paper silver at $33/oz. There’s another comment here referring to the 1970’s where the SEC ordered a settlement in dollars and not silver. You can bet if things go south they’ll be paying off investors at this lower price of the manipulated market and not at the price of real silver.
Exactly.
The shills are attacking the beauty of this event... Be careful, but consider buying silver.
Q tip-toed around the the idea that people will have to see for themselves before they have the will to change. TBH, there’s no mild way to do this. It would mean economic collapse or totalitarian control/detention camps before the average person saw the situation for what it is. Whatever happens, it’s going to be deeply uncomfortable for everyone. As a piece of mind it’s good to have some bullion just in case.
Sprott physical will cash out monthly in bullion. Pslv on nyse. Buying shares and cashing in has Troy oz unrefined bars mailed to you.
Buy all the hard stuff you can but be prepared to store it effectively and be willing to protect it. And don't be telling everyone and their brother about it.
While I do believe in precious metals as a safetynet, I don't buy any of the hype around silver ending up being $1000+ an oz, unless serious inflation occurs, but if that'd were to happen then we'd have much bigger things to worry about, and a loaf of great would be $100, and having something to make more loaves of bread might be more valuable.
My main argument against silver or gold or any other precious metals is that we have known gold reserves with 99% certainty in terms of getting a yield. The only issue is that it costs more to mine at current prices. For example, there is known to be gold underneath areas of Santa Barbara and San Bernardino counties. Not only has this been tested, but proven with core samples. Again, it simply costs slightly more than the price of gold to extract due to many factors. If gold were to hit $4,000, immediately these areas would start being mined within a year and the market would get an even larger flow of gold entering into it.
Bitcoin on the other hand, much to many who disagree here, has a FIXED supply added to it. There is nothing that can change this and it will continue to decrease, unlike precious metals which are not in any way limited despite what people say.
Now, you may argue it's not real, bitcoin is just 1s and 0s, but we know that's a bullshit argument when that can be said with just about anything on paper these days that supposedly represents real world value . What use is silver in an economic collapse? We already have tons of other useful metals that can easily recycle into the existing supply to support the supposed "new" use-cases for the $1000 an ounce silver. This isn't the 1800s anymore. We can do a lot of things without silver, and if the need arises we can extract more silver at-will, whether its from a new mining operation, or the silverware and other items that already exist that have silver in them.
While a lot of your points are valid, I think you underestimate the time and effort required to get a silver mine up and running (in California it would take 5 years of enviro assessments and permits before you got a shovel in the ground). I work in oil and gas and the market balances itself over time - higher prices will lead to more exploration and production. A higher price will definitely lead to more production of silver... over time.
However, what sets silver apart is that it’s a relatively rare metal with a historical association to currency. In fact the US has issued silver backed notes in the past. If patriots win Gold and/or silver will underpin the new currency. Even when not functioning as a currency silver trades in the $10-20/oz range. This use as a currency would skyrocket the price. You see a glimpse of this even now as a few thousand redditors buy a handful and it’s already squeezing supply.
Where people get hung up on is the fluctuating value. Yes, it changes over time. But the key point is that it always has value. People have wallpapered their houses with dollars, but it will never happen with gold or silver.
Agreed. Make sure whoever your buying precious metals from actually sends you the product, not some piece of paper they'll inevitably refuse to honor should the stock market crash
If you don't have it, you don't own it.
Do not buy paper-gold or paper-silver. Buy physicals!
And for crypto; not your keys, not your coins. You need to control the private key.
GME, DIAMOND HANDS< SILVER=LARP
Just to clarify, I’m not advising people go hard into silver right now. It sounds like it provides liquidity to Citadel and JP while they need it. I just think it’s good to have some bullion saved, and am advising people to get actual metal and not paper if they do it.
https://www.reddit.com/r/wallstreetbets/comments/l9runf/the_silver_squeeze_is_a_hedgefund_coordinated/