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Thread: Silver price - when to sell?

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  1. #16

    Dec 2012
    34
    59 times
    All Types Of Treasure Hunting
    There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

    $27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

    Unless somebody finds the Josephine and pays off the national debt, it will never happen.
    Idahodutch and FormerTeller like this.

  2. #17
    us
    Sep 2019
    Idaho
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    Quote Originally Posted by Phil View Post
    There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

    $27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

    Unless somebody finds the Josephine and pays off the national debt, it will never happen.
    Phil, we are in unchartered waters already. There is no telling.
    Be careful, because this uncharted course may change directions suddenly, when not expected, or even thought possible.
    Stay safe,
    Idahodutch

  3. #18
    Charter Member
    us
    Feb 2008
    Great Lakes State
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    Quote Originally Posted by Phil View Post
    There is a push to allow gold to be used as currency in several states, but going back to the gold standard is impossible.

    $27 trillion in debt, with less than 150 million ounces in federal reserve, is only $300 Billion (at $2k ounce).

    Unless somebody finds the Josephine and pays off the national debt, it will never happen.
    Then repurpose the price to $XXX.

    Edit:repurpose to $XXXXXX
    Idahodutch likes this.

  4. #19
    us
    Mar 2017
    84
    249 times
    All Types Of Treasure Hunting
    I knew someone who invested in silver right at the peak, in 1980. At no point since then would he have been ahead, though it has now surged beyond its post-Brexit highs.

    Thanks to Coinstar, I'm sitting on about $150 worth of silver, obtained at zero cost. But even if silver went to $500 an ounce, I'd still have trouble letting go of these coins, just because they're really neat.

  5. #20
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    2,062
    2470 times
    Prospecting
    I wouldnt sell for fiat but I would trade silver for gold at the right ratios. Other than that no way.
    Idahodutch likes this.

  6. #21

    Aug 2012
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    888 times
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    Quote Originally Posted by Johnnybravo300 View Post
    I wouldnt sell for fiat but I would trade silver for gold at the right ratios. Other than that no way.
    I'm thinking either swap with a good silver/gold ratio, or buy rental property.
    Idahodutch and FormerTeller like this.
    "The right to swing my fist ends where the other man's nose begins." Oliver Wendell Holmes.

  7. #22
    us
    Jan 2016
    South of Gunnison, Gold Basin
    F2
    2,062
    2470 times
    Prospecting
    Yeah an income producing asset would be nice to come across if it happens that way and I would sell some in that case.
    It's not the time for me to look into that, maybe closer to the bottom.
    We havent seen the fallout or fire sales yet but they are coming. Whoop whoop!
    I need a backhoe!

  8. #23
    Charter Member
    us
    Feb 2008
    Great Lakes State
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    Quote Originally Posted by GlenDronach View Post
    I'm thinking either swap with a good silver/gold ratio, or buy rental property.
    To become a landlord, you must first obtain balls of steel.
    Idahodutch likes this.

  9. #24
    us
    Jan 2017
    Western ny
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    Quote Originally Posted by fistfulladirt View Post
    To become a landlord, you must first obtain balls of steel.
    and be willing to let Renters walk all over you because of heavy gov't oversight

  10. #25
    us
    Rock hunter

    May 2020
    East texas
    475
    882 times
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    Quote Originally Posted by Idahodutch View Post
    Phil,
    If Trump wins, there is talk of going back to a gold standard.
    Things here in USA, might be priced in terms of gold soon.
    Would be different, thatís for sure.
    That won't happen. We gonna print more unsupported cash to cover all this stimulus.

  11. #26
    us
    Sep 2019
    Idaho
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    Cache Hunting
    Quote Originally Posted by Garscale View Post
    That won't happen. We gonna print more unsupported cash to cover all this stimulus.
    Garscale, I agree for now, but once the toilet paper is all used up, or nobody will take it anymore (worthless) we will have to go back to something of value for money. Either that, or we all will be living at camp fema or worse.

 

 
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