Not only what he said but it is also the most recognized, purchased, and traded, silver coin in the world. If not piece of silver. All that comes backed with a “guarantee” of sorts that the government is preventing counterfeit coins.
When the shit hits the fan and we are trading silver American minted silver is simply the most trustworthy, especially, in America by Americans. It is recognized by everyone. Only problem is the premium on them now. It’s roughly $10.
Another factor is silver value. If silver becomes worth say, for fun, $500 an oz. It will be allot easier to barter with trusted American coins worth $500 than say a 10oz bar worth $5k.
They are legal tender backed by the government as long as it stands but it would obviously be foolish to spend an oz of silver as $1 or an oz of gold as $50.
There was once a country, I don’t recall, that put a large face on their gold coins and the value of gold dipped below the face value so people traded them in and it cost the government some money. This is why the low denominations. FYI.
Fact, though the premium is also very high on those at the moment. It’s like $23-28 for $1 face/.715oz. Silver is about $24 an oz now. Honestly, it does not look like it will get much cheaper any time soon. Is a 1/4oz tax on your silver holding worth the recognizability, idk. Depends on how the stars decide to line up I guess.
No expert on the topic but with those coins you know the purity and all of the gold so that should give it more value.
The thing that’s confused me about these “buy gold and silver” people is that in a SHTF situation how exactly would you use gold? It varies wildly in purity and value the same as all other metals. For example a 1” cube of gold could be worth a few hundred or a few thousand dollars depending on what else is in it
American Eagles are the official silver/gold bullion coin minted by the US Treasury and are considered legitimate currency at the face value of the coin.
True, but there is a difference in spending power between a real Silver US Dollar and a FRN called a dollar by the Federal Reserve. Just like there is a difference in spending power between a Canadian Dollar and a FRN.
In order to see that difference in spending power, you would have to sell the Silver bullion to a precious metals dealer first. If you walked into a store with a $1 silver coin you would only be able to buy $1 worth of merchandise.
Again, not true. I do not have time to go find the court cases to support it though. The information is out there for anyone that takes the time to find it though.
That specific type of coin?
I get going back to gold and silver, but American Eagle coins look like one of those commemorative coin scams you'd see in a commercial on Fox News.
I hope I'm wrong and you're right. But why THOSE coins specifically?
Not only what he said but it is also the most recognized, purchased, and traded, silver coin in the world. If not piece of silver. All that comes backed with a “guarantee” of sorts that the government is preventing counterfeit coins.
When the shit hits the fan and we are trading silver American minted silver is simply the most trustworthy, especially, in America by Americans. It is recognized by everyone. Only problem is the premium on them now. It’s roughly $10.
Another factor is silver value. If silver becomes worth say, for fun, $500 an oz. It will be allot easier to barter with trusted American coins worth $500 than say a 10oz bar worth $5k.
Which I also heard in those coin ads on Fox News. "Each coin is legal tender!"
They are legal tender backed by the government as long as it stands but it would obviously be foolish to spend an oz of silver as $1 or an oz of gold as $50.
There was once a country, I don’t recall, that put a large face on their gold coins and the value of gold dipped below the face value so people traded them in and it cost the government some money. This is why the low denominations. FYI.
1964 and earlier silver coinage,is much cheeper and still legal us currency. And you can buy it in much smaller denominations.
Fact, though the premium is also very high on those at the moment. It’s like $23-28 for $1 face/.715oz. Silver is about $24 an oz now. Honestly, it does not look like it will get much cheaper any time soon. Is a 1/4oz tax on your silver holding worth the recognizability, idk. Depends on how the stars decide to line up I guess.
No expert on the topic but with those coins you know the purity and all of the gold so that should give it more value.
The thing that’s confused me about these “buy gold and silver” people is that in a SHTF situation how exactly would you use gold? It varies wildly in purity and value the same as all other metals. For example a 1” cube of gold could be worth a few hundred or a few thousand dollars depending on what else is in it
American Eagles are the official silver/gold bullion coin minted by the US Treasury and are considered legitimate currency at the face value of the coin.
True, but there is a difference in spending power between a real Silver US Dollar and a FRN called a dollar by the Federal Reserve. Just like there is a difference in spending power between a Canadian Dollar and a FRN.
In order to see that difference in spending power, you would have to sell the Silver bullion to a precious metals dealer first. If you walked into a store with a $1 silver coin you would only be able to buy $1 worth of merchandise.
Again, not true. I do not have time to go find the court cases to support it though. The information is out there for anyone that takes the time to find it though.