Posted on 03/01/2011 5:13:29 AM PST by Jet Jaguar
Goldbug ping
Making me glad that I swapped out some of those flimsy paper things for shiny stuff a couple years ago.
:)
I think silver can go to 40+....it’s that kind of economy right now.
Inflation? What inflation?
Gold is at its all-time high this morning. On Nov 9, 2010 gold set a high of $1424.
If gold closes above $1424, we should see gold hit $1500 soon thereafter.
Silver is also strong this morning.
I didn’t realize $ 1424 was the all time high. For some odd reason, I thought it was almost $ 2,000.
Bad memory must be catching up to me.
I view it as devaluation. The US$ is steadily declining in value relative to real stuff.
- Brass
- Copper
- Lead
Thanks for the ping, Jag.
How’d you like to have found this treasure last week?
You’ve probably seen $2000/oz so many times the number has imprinted itself in your mind. It, or numbers near it, are the inflation-adjusted high of the 1979 peak ($850) adjusted to current dollars. Using the government’s own (understated) inflation numbers, no less! If you use more realistic inflation numbers, you get more like $5000-$6000/oz. This, to some of us, makes it still a buy here at $1400.
I think you’re both right.
Least I knew I got that number from someplace! (see, there is always hope...lol)
In the early ‘50s you could buy a gallon of gas for two silver dimes. Today you can still buy a gallon of gas for two silver dimes and get back change. If you take the change in copper pennies, you really make out.
With silver at $34.00 today am I correct in saying that one silver dime is worth $2.50?
That’s a great idea, but copper pennies are getting rare. I think I’ll ask for the change in nickels, which are also worth more than their face value. They have more copper in them than today’s pennies do, being made of 75% copper, 25% nickel.
Handy site:
http://www.coinflation.com/coins/silver_calc.php
Bid/Ask Spread:
In the past, most “junk silver” coins on eBay often sell between a +/- 5% spread of the melt value. For example, if you have a silver coin that has a $1.00 melt value, you should be able to find someone who’s willing to buy/sell it between $0.95 - $1.05. However, the recent spike in the silver price has caused premiums to fluctuate wildly.
If you’re planning to buy/sell 1 Roosevelt dime(s) when silver is priced at $34.31 / ounce, the final total may fall between $2.36 - $2.61 on eBay.
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