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Gold VS. Silver in bad times

I collect gold. My children collect silver. They say if bad times come, silver will be easier to deal with. I say gold is more valuable with regard to it's commercial use in transactions. What do you think? CAW

Comments

  • Double post

  • rte592rte592 Posts: 1,668 ✭✭✭✭✭

    @Lostintranslation said:
    Double post

    Worth mentioning twice then :D
    Gold is said to be the metal of kings.

  • derrybderryb Posts: 36,809 ✭✭✭✭✭

    Your children are right. In bad times silver will be much easier to barter with because of its lower value per "unit." 90% silver US coins (pre-1965) will be best and most accepted for barter and are some of the cheapest silver to buy.

    While gold is the king of metals it will be hard to buy a loaf of bread with a $5 gold eagle that is currently valued at approx. $280.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • tincuptincup Posts: 5,135 ✭✭✭✭✭

    I view it as traditionally gold is for storing / holding / preserving your wealth.... and silver for the day to day living expenses, etc. IMO one should have both.

    ----- kj
  • cohodkcohodk Posts: 19,117 ✭✭✭✭✭

    @derryb said:

    While gold is the king of metals it will be hard to buy a loaf of bread with a $5 gold eagle that is currently valued at approx. $280.

    Unless the value of the $5 eagle is the same as the loaf of bread. If you disagree, then you may in fact have something the other party does not----hunger.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • derrybderryb Posts: 36,809 ✭✭✭✭✭

    @cohodk said:

    @derryb said:

    While gold is the king of metals it will be hard to buy a loaf of bread with a $5 gold eagle that is currently valued at approx. $280.

    Unless the value of the $5 eagle is the same as the loaf of bread. If you disagree, then you may in fact have something the other party does not----hunger.

    When a loaf of bread hits $280 that $5 gold eagle will buy a lot more than just one loaf of bread. As the supply (shortage) decreases in a crisis, the price of the item will increase. Stop and try to think what will happen to the price (value) of gold. Stop limiting your thinking.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • cohodkcohodk Posts: 19,117 ✭✭✭✭✭
    edited September 30, 2024 6:05PM

    No, the loaf of bread will not be $280. What will happen to the price of gold if folk won't even trade a loaf of bread for it. Think of what you might give to feed your family. Desperation comes with an incredible cost.

    Stop limiting your thinking.

    Excuses are tools of the ignorant

    Knowledge is the enemy of fear

  • dcarrdcarr Posts: 8,457 ✭✭✭✭✭

    @cohodk said:
    No, the loaf of bread will not be $280. What will happen to the price of gold if folk won't even trade a loaf of bread for it. Think of what you might give to feed your family. Desperation comes with an incredible cost.

    Stop limiting your thinking.

    .

    If it gets that bad, paper dollars will be worse than toilet paper. Most of what you own will be useless and worthless.

    .

  • tincuptincup Posts: 5,135 ✭✭✭✭✭

    @cohodk said:
    No, the loaf of bread will not be $280. What will happen to the price of gold if folk won't even trade a loaf of bread for it. Think of what you might give to feed your family. Desperation comes with an incredible cost.

    Stop limiting your thinking.

    Have to agree. In times of severe hunger... your gold may not buy the loaf of bread.... which could be priceless. But in that situation, if anything 'could' buy that loaf of bread..... it would likely be gold.

    No, I am not predicting that we are going to see that type of scenario!! But history does have some lessons. World War 2 was one of those times, where gold could mean some food, shelter, or a guard to turn his head and not interfere, or perhaps passage on a ship that has already been overbooked. Throughout history there are likely many, many examples that have been lost to time.

    How's that saying go? "Those who do not learn from history... are doomed to repeat it" or something along those lines. Human nature... is human nature.

    ----- kj
  • GoldFinger1969GoldFinger1969 Posts: 1,757 ✭✭✭✭✭
    edited October 1, 2024 7:12AM

    Gold is the monetary investment. If you want really cheap, buy one of those crypto currencies currently valued at $0.00001 and buy 10 billion of them.

    Quantity and price does NOT equal "cheap."

  • derrybderryb Posts: 36,809 ✭✭✭✭✭

    @dcarr said:

    @cohodk said:
    No, the loaf of bread will not be $280. What will happen to the price of gold if folk won't even trade a loaf of bread for it. Think of what you might give to feed your family. Desperation comes with an incredible cost.

    Stop limiting your thinking.

    .

    If it gets that bad, paper dollars will be worse than toilet paper. Most of what you own will be useless and worthless.

    .

    and that $5 AGE will be near priceless.

    "Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey

  • blitzdudeblitzdude Posts: 5,891 ✭✭✭✭✭

    I'd suspect more demand for my chicken eggs than AGE/ASEs in "bad" times. RGDS!

    The whole worlds off its rocker, buy Gold™.

  • tommy44tommy44 Posts: 2,287 ✭✭✭✭✭

    Anyone watch " The Book of Eli"? Soap, shampoo, cigarettes, booze, ammunition, clean water, non perishable food and etc. will all beat the heck out of silver or gold if things get really bad.

    it's crackers to slip a rozzer the dropsy in snide

  • jmski52jmski52 Posts: 22,843 ✭✭✭✭✭

    I'd suspect more demand for my chicken eggs than AGE/ASEs in "bad" times. RGDS!

    I see a chicken farm in your future!

    Anyone watch " The Book of Eli"?

    Pretty good movie!

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
  • Clackamas1Clackamas1 Posts: 954 ✭✭✭✭✭
    edited October 19, 2024 12:52AM

    @jmski52 said:
    I'd suspect more demand for my chicken eggs than AGE/ASEs in "bad" times. RGDS!

    I see a chicken farm in your future!

    Anyone watch " The Book of Eli"?

    Pretty good movie!

    Chickens are the most valuable farm animal you can own. We have 12 of them on my farm, free range them and they almost feed themselves off of foraging. You can hatch the eggs for more chickens, eat the roosters, eat the eggs or sell the chicks. Cows are a pain so we just have our fields hayed and sell the hay to the people who love to poor (pun intended) money into horses. Owning guns does go hand in hand with owning chickens since we have to shoot the coyotes that occasionally kill the chickens. Having good hunting dogs is another good animal to have with chickens, our bird dogs leave the chickens alone, chase predators away but can still hunt uplands with fervor.

  • Clackamas1Clackamas1 Posts: 954 ✭✭✭✭✭

    To the OP. Gold is good if you are going to be needing to buy something big, like land. Silver is good for day to day items. I would want both and for the silver fractional silver will be the most useful. Keep a $500 face bag of silver Roosies and quarters along with bullion in the form of coins. I have a bunch of silver bars but they are not for bad times they are just easier to deal with than rounds. If you are storing real wealth gold is the way to go, you can shove a couple of hundred ounces in a backpack and be off can't do that with silver.

  • blitzdudeblitzdude Posts: 5,891 ✭✭✭✭✭

    @Clackamas1 said:

    @jmski52 said:
    I'd suspect more demand for my chicken eggs than AGE/ASEs in "bad" times. RGDS!

    I see a chicken farm in your future!

    Anyone watch " The Book of Eli"?

    Pretty good movie!

    Chickens are the most valuable farm animal you can own. We have 12 of them on my farm, free range them and they almost feed themselves off of foraging. You can hatch the eggs for more chickens, eat the roosters, eat the eggs or sell the chicks. Cows are a pain so we just have our fields hayed and sell the hay to the people who love to poor (pun intended) money into horses. Owning guns does go hand in hand with owning chickens since we have to shoot the coyotes that occasionally kill the chickens. Having good hunting dogs is another good animal to have with chickens, our bird dogs leave the chickens alone, chase predators away but can still hunt uplands with fervor.

    Yeah, these city chickens think their food is grown down at the local grocery. They would be toast the second things went "bad" should their doomsday fantasies ever become reality. But, but, but I got all these gold coins and gutter metal. That would be about the last thing anyone would care about. Crazy world. THKS!

    The whole worlds off its rocker, buy Gold™.

  • jmski52jmski52 Posts: 22,843 ✭✭✭✭✭

    Yeah, these city chickens think their food is grown down at the local grocery. They would be toast the second things went "bad" should their doomsday fantasies ever become reality.

    Careful now - you're starting to sound like a gloom & doom conspiracy theorist.

    Q: Are You Printing Money? Bernanke: Not Literally

    I knew it would happen.
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