My vicious dog Fergus guards them for me.
Posted on 07/09/2016 6:25:39 PM PDT by TigerLikesRooster
After Bitcoin, Chinese Go Crazy About Silver
By Valentin Schmid, Epoch Times
July 5, 2016 AT 3:30 PM
Last Updated: July 7, 2016 12:06 pm
Chinese speculators have the reputation of buying anything and everything that is going up.
Real estate, the stock market, copper, bitcoin, and now silver. Futures in Shanghai reached their upside limit when prices hit $21.13 per ounce, up 6.9 percent on the day. Chinese are behind the bulk of the buying as volumes on the Shanghai futures exchange exploded to 95 billion yuan ($14.2 billion) last Friday.
The price has since retreated to a tad below 20, but the overall performance over the second quarter is best in class, up 17 percent.
At least considering traditional asset classes. Bitcoin, the preferred Chinese capital outflow vehicle is up 66 percent in Chinese yuan over the same time period. After peaking on June 16, it has leveled off a bit, a good chance for Chinese traders to focus on silver again. Like Bitcoin, silver is not part of the Chinese banking system and provides insurance for a possible debt restructuring.
Throughout history, the Chinese have been alternating between currency systems based on silver and currency systems based on paper money. Genghis Khan was the first emperor to force his citizens to use paper money, Chiang Kai-shek’s Nationalist Party was the last one to switch silver for paper in 1935.
"The fact that the traded volume goes up while the open interest goes down is a clear indication that day traders have taken over for now."— Ole Hansen, Saxo Bank
(Excerpt) Read more at theepochtimes.com ...
Agreed. My point in owning them is as a hedge, not to convert it to worthless paper. Picked up a portable fire, lock case from Walmart for under $20 to store them in.
My vicious dog Fergus guards them for me.
I bet I could open the case with a screw driver and a hammer.
I don’t agree with that, because silver dollars almost always command a greater premium over melt value. If you just want junk silver, quarters-dimes-halves are a better value UNLESS you can buy SDs at a mere 7 or so percent over 4 quarters or two halves or ten dimes. (very close to $1 at present)
A SD is worth about 15.70 in pure melt. (90% * 26.73 gms)
A silver half is about 7.33 (90% * 12.5 grams) so two of them would be worth 14.66 and a 15.7 SD/14.66 is about 7.5% more silver and more worth.
Though a SD contains more silver than 2x a half and 4x a quarter and 10x a dime, the most general way one values these things is by some multiple of face value.
Most sellers believe SDs are “worth more” than two halves, and silver wise, they are. But in my experience, sellers want more than 7% more for their SDs than they want for 4 junky quarters.
At present pricing, if you can buy SDs for only $1 more than 2 halves, that’s fine. And there is nothing wrong with owning a handful of neat old 100+ year old coins.
Morgan & Peace dollars were made from 1873 to 1935 with some breaks in years. From up to 5 mints. As they were made when the Comstock Lode was active, many Morgans were made in absolutely gargantuan numbers, most years. Probably no more than 20 dates/mints have any great scarcity value.
Go to a coin show next time one is near you. You’ll be blown away by how many SDs there are, and forget not that hundreds of millions of them have been melted down.
I forgot to add, but someone else did anyway, that common date Morgans and Peace dollars are nowhere near as “nice” to own as they once were because tremendous numbers of Chinese fakes have been produced and imported into the US. Thus the ownership of same as bullion is not the big party it once was because now, they are suspect and are actually worth less, because the effort now has to be made to scrutinize them for genuineness on surrender. Trust me, fakes are very common. No really skilled coin dealer would be fooled but like anything else, the fakes have gotten much better over time and if you don’t handle them all the time, they could certainly fool you.
Silver kills more than 600 human pathogens .....
A little silver in the blood inhibits bact. growth systemically ......
Yep its prob. gonna get real popular as medicine ...again.
The blue bloods were all born w a silver spoon...in their mouths...
Gold is shinny
You would be correct but it would be more difficult for the banker or a gubmint official.
That’s quite a collection of silver dimes. Did you own a laundromat when you began saving them?
Thanks
Adorable! :)
My grandmohter died and had a kitty bank filled with silver dimes dated 1945 and earlier. My aunt inherited it and when she passed none of the other siblings wanted it so I took it. They were not worth so much then but I now consider that one of my smartest moves ever.
Good for your grandmother! Good for you!
Silver is a good investment! Junk silver may keep you fed some day.
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