If Americans were permitted to print their own money it would be worth as much as that being regurgitated by edict of the FED.
"Jim Rogers, billionaire and cofounder of the Soros Quantum Fund, publicly stated two months ago that he plans to sell federal debt and purchase more gold and silver.
silver typically trades 40-60 : 1 on gold (currently 53:1)
if silver were to trade at $100/oz... that would put gold around $4000-6000/oz (let’s say $5,300/oz at today’s ratio)
this would be about a 215% jump in gold price... which would mean:
* gas would move from $3.40/gal to $10.71/gal
* bread would move from about $2.99/loaf to $9.42/loaf
* deli roast beef would go from $8.99/lb to $28.31/lb
pretty much exactly what 0bama and the commies on the left have been pushing for over the passed few decades.
“While nothing is wrong with silver Eagles, it does take longer and longer to realize the intended return on investment. Furthermore, you do not necessarily get the premium back if and when you decided to trade or sell your coin(s).”
I buy Morgans not as an investment but as a means of having something easily converted into dollars and as a means of a hedge against the inflated Fed notes.
If counterfeiting of coins is a problem and if there is a premium that is not redeamable on selling, why not just buy silver?
Silver can be purchased fine .9999 or sterling .925 from lots of places. The Navajo silver smiths literally stand in line to purchase small quantities of various thickness, widths and lengths of silver sheet in the Gallop New Mexico supply houses. These suppliers also sell casting grain, BB size pellets that can be weighed out in very small quantities.
The same shops also purchase silver. The scrap left over after fabricating is saved and returned. It is graded depending on if it is pure or contains solder or other such impurities.
The trade in silver is very active in the southwest
One, Treee-Lee-Ion Dollars, Mwahahahah!!!
Sigh: I still remember when silver was REAL MONEY! In Utah my dad got paid in REAL SILVER DOLLARS!
Even the paper money had the words...”Pay to the bearer on demand, in SILVER,.....”
Anyone remember when GOLD was real money?
Anyone remember when the SUPREME COURT OF THE UNITED STATES declared GOLD and SILVER the ONLY legal tender in the US?
If you buy bullion bars and coins at one troy ounce or less, the chances of counterfeit is rare because the cost even at 100 dollars is too low for the risk. The only one ounce coin or bar is the collectible ones based on historical and rarity value that usually sells several folds above its silver value. Example Morgan Silver dollars can sell depending on its condition and year/historical rarity/collector demand 200 thru 300 dollars. These coins usually come in a plastic slab with assayed documentation/bar code on it. The assay tells the buyer what the silver purity is and the condition grade. The higher the condition grade the more the coin/bar is worth. As the price of silver rises these collectible coin/bar values also escalate. Counterfeiter will jump in with real silver fakes in assay plastic slabs. The problem with the assay slabs is for the owner to detect fake they must break it to access the coin. Sellers will not allow that. If the coin turns out not to be a fake, the owner must spend money to have it assayed for its grade and resealed in a slab. This costs money.
To avoid this problem, buy coins and bars based on silver content (bullion) in one ounce or smaller sizes. Larger bars are valued sufficiently that counterfeiting can occur. Usually lead is used to fill inside of the bar, but that can be detected by a magnet. A magnet is usually one of the basic tools a buyer should have on hand to test any silver coin or bar. If the magnet sticks, the bar and coin has lead content.
Stay away from ETF except PSLV or CEF. Many ETF sells paper shares with claim to silver, but the paper shares outnumber the actual silver in the fund by ratios as high as 90 to 1. If everyone wanted to sell their shares for silver in lieu of dollars, the ETF will collapse. Many of these funds are owned by Wall Street banks and hedge funds who are involve with each other in swaps and interlocking loans, where the silver in their managed funds can be used as collateral for these deals.
PSLV and CEF is one of the few that the number of shares reflect the silver held by the ETF managers. No fractional banking model (more paper then actual metal). Like any ETF including the ones I referenced as good are still third party risks. Nothing beats physical ownership of the metals.
There are Morgan copies readily available on the market apparently they were used in casino’s after the actual coin supply dried up they have a tiny “copy” on the reverse of the coin. I bought a few to leave around my house lightly concealed for the thief that knows I have silver around.