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To: The Duke
1) Many people swear by those pre-1964 90% silver coins and buy them by the bagful.

2) Minted coins - ostensibly for collectible value but are also more easily trade-able. Silver or gold eagles or coins from various countries.

3) Bullion - silver 1000 oz bars have little premium over the spot price. Smaller denominations do, in either case you would want to get the bullion from a recognized mint.

Silver has been money for longer than gold has been money. It follows the gold market usually pretty well. Last Nov-Dec-08 gold began rising and silver didn't immediately follow. I think it has been correcting that gap recently.

Precious metals ought to be in everyone's asset mix - at least 10-20%. Since Obama is spending and inflating more PMs should be accumulated defensively.

With powerful worldwide parties looking to diversify out of the dollar, the idea of a gold based one seems to me to make the most sense. On the other hand the notion that a few other fiat currencies can be strapped together and weighted as a bundle of alternative fiat currencies is just a useless idea. We trade off one governments incredulous fiat currency performance for a basket comprised by other incredible central bankers with their political agendas. That would be sick. Only a hard-currency backing will work for replacing the dollar.

45 posted on 07/12/2009 6:24:52 PM PDT by kcar
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To: kcar
We trade off one governments incredulous fiat currency performance for a basket comprised by other incredible central bankers with their political agendas. That would be sick.

That's exactly how I see it. For me money is starting to seem more of a convenience factor for exchange, but not as a store of value. In fact, the practice of bundling fiat currencies seems to me about as sensible as bundling bad mortgages.

49 posted on 07/12/2009 10:38:39 PM PDT by The Duke ("Are you now or have you ever been a member of the Democrat Party?")
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