@rec78 said:
23 year old thread!?
The problem is that paper money becomes more and more worthless every day and yes I am buying gold and silver even at today's market prices. Gold and silver prices are relavent and paper money is paper. Give me gold, give me silver you can have paper.
In response to your question-no, I don't. I just started purchasing gold coins a few years ago.
I think this is a common misunderstanding. Paper money, issued by a country, is backed by all of the productivity of that country and will ebb and flow in value in relation to that productivity. So paper money does indeed have value. Now if you mean crypto currency, it is backed with nothing and only exists because of the ponzi scheme it represents………….
In reality-paper money only has value if you trust the government that prints it. Permanently going off the gold standard will eventually deflate all paper money value to valueless. As I stated above-I will buy all the silver and gold I can even at today's prices because I am one of those that does not and never have trusted unbacked paper money.
I remember the day when I could walk into a bank and demand silver coins for my silver certificate one dollar bill. These days are long gone forever. If the government needs money they simply print it without any backing whatsoever.
Silver is basically worthless too, its just older than paper and more tangible. They are all mediums used to represent labor and food, maybe bullets . The ratios and who controls them are different but I assure you the silver interests are not looking out for the little guy either.
Silver is worthless? Since it is worthless please send me all you got!
My pleasure kind Sir, in return please send me all your worthless 100$ bills or any of the bills from the Govs you don't trust. I suspect neither of us will be eating what were sent so there is an element of trust in all commodity/currency exchanges no?
Since the silver is the superior asset I will need to offer back of spot value for your 100$ bills BTW, esp since they are becoming worthless. Im taking all the risk here. Im offering 92% in silver because Im fair but I got light bills and what not to pay. ,
@rec78 said:
23 year old thread!?
The problem is that paper money becomes more and more worthless every day and yes I am buying gold and silver even at today's market prices. Gold and silver prices are relavent and paper money is paper. Give me gold, give me silver you can have paper.
In response to your question-no, I don't. I just started purchasing gold coins a few years ago.
I think this is a common misunderstanding. Paper money, issued by a country, is backed by all of the productivity of that country and will ebb and flow in value in relation to that productivity. So paper money does indeed have value. Now if you mean crypto currency, it is backed with nothing and only exists because of the ponzi scheme it represents………….
In reality-paper money only has value if you trust the government that prints it. Permanently going off the gold standard will eventually deflate all paper money value to valueless. As I stated above-I will buy all the silver and gold I can even at today's prices because I am one of those that does not and never have trusted unbacked paper money.
I remember the day when I could walk into a bank and demand silver coins for my silver certificate one dollar bill. These days are long gone forever. If the government needs money they simply print it without any backing whatsoever.
Silver is basically worthless too, its just older than paper and more tangible. They are all mediums used to represent labor and food, maybe bullets . The ratios and who controls them are different but I assure you the silver interests are not looking out for the little guy either.
Silver is worthless? Since it is worthless please send me all you got!
My pleasure kind Sir, in return please send me all your worthless 100$ bills or any of the bills from the Govs you don't trust. I suspect neither of us will be eating what were sent so there is an element of trust in all commodity/currency exchanges no?
Since the silver is the superior asset I will need to offer back of spot value for your 100$ bills BTW, esp since they are becoming worthless. Im taking all the risk here. Im offering 92% in silver because Im fair but I got light bills and what not to pay. ,
The title of this thread proves my point.
Gold-331.60 Dec. 2002 per oz
Gold-3241.20 May 15, 2025 per oz
Paper $100 Dec. 2002 worth $100
Paper $100 May 15, 2025 worth $100
About 10x increase for gold no increase for paper $100.
@rec78 said:
The title of this thread proves my point.
Gold-331.60 Dec. 2002 per oz
Gold-3241.20 May 15, 2025 per oz
Paper $100 Dec. 2002 worth $100
Paper $100 May 15, 2025 worth $100
About 10x increase for gold no increase for paper $100.
Well, you NEED $100 to buy goods and services.
$100 invested in equities or fixed-income will also grow over time.
Since we are Americans and the dollar is our unit of exchange, a small deflation of the value each year is a small price to pay for real GDP and productivity growth.
The old thread should at least provide some indication that like all commodities and metals, gold trades cyclically. My technical chart indicate that gold is near a top in the near term. There is simply no fundamental reason either that it should remain up while risk is dropping in every area of the world. I sold out of most of my gold coins and GLD a few weeks ago, and expect to buy them back cheaper early next year. Laugh if you want, but my options and stock trades are smoking since I retired and turned to full time trading using high quality information.
@rec78 said:
23 year old thread!?
The problem is that paper money becomes more and more worthless every day and yes I am buying gold and silver even at today's market prices. Gold and silver prices are relavent and paper money is paper. Give me gold, give me silver you can have paper.
In response to your question-no, I don't. I just started purchasing gold coins a few years ago.
I think this is a common misunderstanding. Paper money, issued by a country, is backed by all of the productivity of that country and will ebb and flow in value in relation to that productivity. So paper money does indeed have value. Now if you mean crypto currency, it is backed with nothing and only exists because of the ponzi scheme it represents………….
In reality-paper money only has value if you trust the government that prints it. Permanently going off the gold standard will eventually deflate all paper money value to valueless. As I stated above-I will buy all the silver and gold I can even at today's prices because I am one of those that does not and never have trusted unbacked paper money.
I remember the day when I could walk into a bank and demand silver coins for my silver certificate one dollar bill. These days are long gone forever. If the government needs money they simply print it without any backing whatsoever.
Silver is basically worthless too, its just older than paper and more tangible. They are all mediums used to represent labor and food, maybe bullets . The ratios and who controls them are different but I assure you the silver interests are not looking out for the little guy either.
Silver is worthless? Since it is worthless please send me all you got!
My pleasure kind Sir, in return please send me all your worthless 100$ bills or any of the bills from the Govs you don't trust. I suspect neither of us will be eating what were sent so there is an element of trust in all commodity/currency exchanges no?
Since the silver is the superior asset I will need to offer back of spot value for your 100$ bills BTW, esp since they are becoming worthless. Im taking all the risk here. Im offering 92% in silver because Im fair but I got light bills and what not to pay. ,
The title of this thread proves my point.
Gold-331.60 Dec. 2002 per oz
Gold-3241.20 May 15, 2025 per oz
Paper $100 Dec. 2002 worth $100
Paper $100 May 15, 2025 worth $100
About 10x increase for gold no increase for paper $100.
Then take all you cash and buy up metals then. Or you’re confusing commodities with transactional currency. Not all commodities are worth more. Yes the dollar has been watered down but fairly proportionally to global indexes to modify purchasing power and devalue debt. With our national debt you should count your lucky stars the dollar is worth less
Silver may have real established value but it will always need a transaction. You sell silver you most likely pay a house fee, there are no house fees with cash
Then take all you cash and buy up metals then. Or you’re confusing commodities with transactional currency. Not all commodities are worth more. Yes the dollar has been watered down but fairly proportionally to global indexes to modify purchasing power and devalue debt. With our national debt you should count your lucky stars the dollar is worth less
Silver may have real established value but it will always need a transaction. You sell silver you most likely pay a house fee, there are no house fees with cash
I certainly will!! The stock market has bank-rupted me more then once. The coin and bullion market has always made me money.
@rec78 said:
23 year old thread!?
The problem is that paper money becomes more and more worthless every day and yes I am buying gold and silver even at today's market prices. Gold and silver prices are relavent and paper money is paper. Give me gold, give me silver you can have paper.
In response to your question-no, I don't. I just started purchasing gold coins a few years ago.
I think this is a common misunderstanding. Paper money, issued by a country, is backed by all of the productivity of that country and will ebb and flow in value in relation to that productivity. So paper money does indeed have value. Now if you mean crypto currency, it is backed with nothing and only exists because of the ponzi scheme it represents………….
Depends on which crypto currency you are talking about, since we're addressing misunderstandings.
Google "stablecoins". PAXG is backed by gold, for example.
All comments reflect the opinion of the author, even when irrefutably accurate.
Professional Numismatist, Retired. 55 year member ANA. Former ANA Senior Authenticator. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and ANA Lifetime Achievement Award 2020. Winner of the PNG's 2026 Robert Friedberg Award for "The Enigmatic Lincoln Cents of 1922," Available now from Whitman or Amazon.
Comments
My pleasure kind Sir, in return please send me all your worthless 100$ bills or any of the bills from the Govs you don't trust. I suspect neither of us will be eating what were sent so there is an element of trust in all commodity/currency exchanges no?
Since the silver is the superior asset I will need to offer back of spot value for your 100$ bills BTW, esp since they are becoming worthless. Im taking all the risk here. Im offering 92% in silver because Im fair but I got light bills and what not to pay. ,
11.5$ Southern Dollars, The little “Big Easy” set
The title of this thread proves my point.
Gold-331.60 Dec. 2002 per oz
Gold-3241.20 May 15, 2025 per oz
Paper $100 Dec. 2002 worth $100
Paper $100 May 15, 2025 worth $100
About 10x increase for gold no increase for paper $100.
Well, you NEED $100 to buy goods and services.
$100 invested in equities or fixed-income will also grow over time.
Since we are Americans and the dollar is our unit of exchange, a small deflation of the value each year is a small price to pay for real GDP and productivity growth.
The old thread should at least provide some indication that like all commodities and metals, gold trades cyclically. My technical chart indicate that gold is near a top in the near term. There is simply no fundamental reason either that it should remain up while risk is dropping in every area of the world. I sold out of most of my gold coins and GLD a few weeks ago, and expect to buy them back cheaper early next year. Laugh if you want, but my options and stock trades are smoking since I retired and turned to full time trading using high quality information.
Then take all you cash and buy up metals then. Or you’re confusing commodities with transactional currency. Not all commodities are worth more. Yes the dollar has been watered down but fairly proportionally to global indexes to modify purchasing power and devalue debt. With our national debt you should count your lucky stars the dollar is worth less
Silver may have real established value but it will always need a transaction. You sell silver you most likely pay a house fee, there are no house fees with cash
11.5$ Southern Dollars, The little “Big Easy” set
I certainly will!! The stock market has bank-rupted me more then once. The coin and bullion market has always made me money.
Since your prediction was in 2 years, we'll know you're wrong much sooner.
All comments reflect the opinion of the author, even when irrefutably accurate.
Depends on which crypto currency you are talking about, since we're addressing misunderstandings.
Google "stablecoins". PAXG is backed by gold, for example.
All comments reflect the opinion of the author, even when irrefutably accurate.
A visionary once said,
"The silver is mine and the gold is mine,' declares the LORD GOD Almighty."
What a coincidence! I am buying at $341. Let me know what you have available.
Interesting thread over time. Some people had some wise predictions. Others... might have sold too soon...
I never understood the complaint with reviving an old thread.
From the perspective of a first time reader, it’s all new
This thread hurts though. I should have been building a AU-58 $20 liberty gold collection at this time 😢
I just keep buying and not selling PCGS/CAC graded $20 Libs and Saints since 1971. I still have a way to go.
I
Industrial demand for silver and copper is escalating well into the future due to data center construction.
All you need to know about the future pricing of silver.
I just came here for the "Old Thread Alert!"
As long as we're on a Fiat system, buy more in the long run then you sell. Of course never put all your eggs in one basket, buy guns too.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc