Europe debases silver coins
derryb
Posts: 38,528 ✭✭✭✭✭
When gold and silver move together, it signals the coming end of fiat money.
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derryb
Posts: 38,528 ✭✭✭✭✭
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How can this be possible with silver heading to COUGH COUGH $18?
COPPER is gutter !
Well, since Germany adopted the Euro in 2002, there have always been collector's coins availabe at face value, most of the time they were made from a silver alloy.
It started with a 10 Euro coin containing roughly ½ ozt of silver, later they eradicated the silver content, but brought it back a few years later...
The main German commemorative coin series (available at face value):
Over the past few years there were some other silver commemoratives availabe at value aswell:
Cool. I guess.
``https://ebay.us/m/KxolR5
debasement marked the beginning of the fall of Rome.
Roman money debasement, primarily the reduction of silver in the denarius, was a gradual process used to finance expanding imperial expenditures, leading to severe inflation and loss of trust in currency. By the 3rd century AD, the denarius fell from over 90% to under 5% silver, causing a crisis. This caused severe inflation, a breakdown in trade, and contributed heavily to the Roman Empire's collapse.
When gold and silver move together, it signals the coming end of fiat money.
Appears to be yet ANOTHER Bulgaria hedge Nothingburger™. THKS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
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Point out ONE THING in the article that is not factual.
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he doesn't read the links
When gold and silver move together, it signals the coming end of fiat money.
I have some of the 3rd century denarii, and they have a thin silver "wash" over a copper core, with copper visible in many of the high points. The earlier ones that are almost pure silver show the same type of wear that you would see on a Mercury Dime or a Barber Dime.
I knew it would happen.
Correct, I learned many years ago that anything that comes out of bulgaria hedge is nothing more than bunker dwelling propoganda. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
ZH in most cases, and in this case, simply echos valuable opinion/information from other sources. Forming opinion based strictly on pre-disposed belief is a recipe for failure - in your case about silver. For example you disparged silver all the way up to its record high and continue to do so as price hovers 200% above where it was one year ago.
Failure to realize that one is, and has been, wrong (especially for so long) is a sure sign of a sore loser.
When gold and silver move together, it signals the coming end of fiat money.
Gutters half its all-time high and most here forgot to sell. lol No sore looser here, I exceeded even my loftiest of expectations. Boomin™. Life is great brother. ENJY!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Nobody here forgot anything. Nobody here sold because they had no intention to sell. Nobody here had any intention to sell because they know where the price is going and aren't in a hurry to liquidate because the rise in silver isn't over by any means. There's a 6 year shortage going on with growing industrial demand and shrinking mine supply. The only one around here who doesn't know where the price is going is too self-absorbed to figure out what to sell and when to sell it.
I knew it would happen.
That's some serious clown talk right there. Gutter hoarders are destined to never make a profit. Stack on. SMH.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
Never make a profit. lolz... oh man ... it's just mind numbing at this point lolzzz.... SHUT UP BLITZ hahahahahahah
COPPER is gutter !
That's some serious clown talk right there. Gutter hoarders are destined to never make a profit. Stack on. SMH.
I'm up 55.5% from exactly one year ago on a conservative basis and 25.21% of that is because of silver. Obviously, you have no idea what you're talking about.
I knew it would happen.
Your inability to perfectly time your trades is the issue. Focus more on the postings of our trading-savant and you too will be rich beyond your wildest dreams...
Oh boy. Dcarr gonna get all over you for saying "nobody".
But back to the OP, is it really debasement if the coins are just commemorative or NCLT?
Knowledge is the enemy of fear
Come on Jim, you've been LOSING for decades. You'd be up over 100% if you were buying oil just a short time ago. It was a no-brainer. The gutter is keeping your head down in the gutter. SMH.
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Wooooha! Did someone just say it's officially "TACO™" Tuesday????
Retiring at 55, what day is today?
they are legal tender. it is the foot in the door for mass debasement
When gold and silver move together, it signals the coming end of fiat money.
Those bags of silver halves that I bought a couple decades ago can be sold right now for 10X what I paid for them. Not bad, really. Same goes for the Monster Box I bought in '03 - I can sell it for 12X what I paid. The Monster Box I bought in '08 is only sellable for 3 1/2 X what I paid, and dang - that Monster Box I bought last year is only up by90% as of today's buy price.
According to "Mr. Bigstuff", I must be doing something wrong, but I don't think so.
I knew it would happen.
it is the foot in the door for mass debasement
Didn't Europe demonetize their silver coinage in the 1960's? Debasing their commemorative silver coins is just adding more insult to injury along the road to total collapse.
I knew it would happen.
Who is Mr. Bigstuff? Blitz? hahahah definitely NOT hahahaha this is a COMEDY forum. Not a precious metals forum....
COPPER is gutter !
I'm not sure it's "debasement" in the case of the German commemorative silver coins, since they are sold at face value and can be spent. They don't really circulate, of course, but they can, and as I saw when I was there, they occassionally do.
When the price of silver rises dramatically, something has to give. Either the silver fineness or weight goes down, or the face value goes up.
Those coins aren't NCLT in the traditional sense because they are sold at face value and can be spent, so the bullion value has to be equal to or less than the face value.
And 65 years later Europe still exists.
Knowledge is the enemy of fear
In Canada a 1 ounce Maple Leaf has a face value of $5 Canadian. That same 1 ounce of silver in the US is called an Eagle and has a face value of $1.
But $5 Canadian is worth $3.50 in US dollars. So.....debasement?
Knowledge is the enemy of fear
In order to debase you have to have a base.
What western fiat currency is based on precious metal prices?
The base is the PM value of a coin before the PM content/weight of the coin was removed.
Currency debasement is the reduction of a currency's value or purchasing power, often caused by governments increasing the money supply or decreasing the precious metal content in coins.
When gold and silver move together, it signals the coming end of fiat money.
OK I will be more specific. What fiat currency that circulates is based on precious metal content?
We are all relying on the confidence that the country of origin is solvent enough to back up the value of the currency. Nothing to do with precious metal content. Govs have made that perfectly clear. They won't give you precious metal in exchange for your coins or bills.
The US did before it took silver certificate currency out of the system. The US also debased the moment it took silver out of its coins. There was a time when US money was fixed to gold; debasement allows them to now print at will.
When gold and silver move together, it signals the coming end of fiat money.
Doesn't the US still make silver quarters?
Knowledge is the enemy of fear
Not for circulation. Only for collector reasons. I guess one could be a tool bag and spend them at 7/11 for FV.
COPPER is gutter !
@softparade said “Not for circulation. Only for collector reasons”
I think that is Coho’s point.
no, he was trying to punch a hole in my contention that debasement occured when silver was removed from circulating coinage. In 1965 there became no limit to the number of quarters, dimes and halves that could be minted. Just like with the end of the gold standard, which introduced unlimed currency creation, 1965 marked the end of the silver standard.
When gold and silver move together, it signals the coming end of fiat money.
Was exactly my point as I expressed earlier in this thread.
But of all the talk of debasement.....and to paraphrase Mr Chow in Hangover 2. "Did we die?"
Been quite an amazing 60 years for the US economy since 1965, no?
Knowledge is the enemy of fear
maybe it's because the US economy grows because there is now no limit on the money creation/soveriegn debt that fuels it. Our only reminder of this when the budget vote creates a temporary freeze in the money handouts.
When gold and silver move together, it signals the coming end of fiat money.
maybe it's because the US economy grows because there is now no limit on the money creation/soveriegn debt that fuels economic growth. Our only reminder of this when the budget vote creates a temporary freeze in the money handouts. US economic growth comes with a price tag - inflation and debt, an eventual nighmare for the individual and the nation. Nations can delay the nightmare indefinitely. Unfortunately individuals cannot.
Economic growth is a good thing. So is an understanding what makes it possible.
When gold and silver move together, it signals the coming end of fiat money.
But of all the talk of debasement.....and to paraphrase Mr Chow in Hangover 2. "Did we die?"
Been quite an amazing 60 years for the US economy since 1965, no?
So, when the value of a silver dime in 1965 was $0.10 and it is now worth $5.12, who benefited over those 60 years and who lost?
Did wage earners benefit since more than likely their wages didn't increase as fast as the dime depreciated? No - they lost purchasing power for the same level of wages.
Did the government benefit since they no longer had to back the currency with any type of physical asset and could therefore print money for whatever frivolous or wasteful project that earned the politicians votes at the expense of the wage earning classes? Yes, and even more insidiously, using inflation gov.com could push more wage earners into higher tax brackets without overtly raising the tax rate - a stealth double-whammy. Inflation plus more taxes and no accountability.
Did the banks benefit since they are the only entities on earth who can create revenue streams out of thin air by charging interest on money that didn't even exist until they made the loans? Yes, and now even bank deposits don't belong to the depositors who actually earned the money in the first place - a corrupt system based on theft and deception all the way around.
The economy grew because of innovation and a mostly free enterprise system,in spite of the monetary shenanigans by gov.com and the banks - not because of them. The history of debasement and devaluation of money is merely another piece of evidence to show how regular "folks" are being constantly fleeced by gov.com and the banks.
I knew it would happen.
So all good!!
Knowledge is the enemy of fear
We all benefitted, especially us on this forum as we get to show each other the goodies we stacked with our disposable income.
Knowledge is the enemy of fear
inflation/debt not good
When gold and silver move together, it signals the coming end of fiat money.
We had all of that, some excessively before 1965.
Knowledge is the enemy of fear
that doesn't make it good
When gold and silver move together, it signals the coming end of fiat money.
Thats what we've been debating for decades. Its been good for you and I.
Knowledge is the enemy of fear
inflation and national debt have not been good for either of us
When gold and silver move together, it signals the coming end of fiat money.
You can go to any bank and get full value for your money.
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You just need to find enough space to store all those nickels.
does it carry the same value it did last year?
When gold and silver move together, it signals the coming end of fiat money.
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That depends entirely on whether the price of nickel and copper increases at or above the general rate of inflation.
purchasing power of your money has nothing to do with metal prices and everything to do with inflation and saturation of the money supply.
When gold and silver move together, it signals the coming end of fiat money.
So did the USA.
The pardon is for tyrants. They like to declare pardons on holidays, such as the birthday of the dictator, or Christ, or the Revolution. Dictators should be encouraged to keep it up. And we should be encouraged to remember that the promiscuous dispensation of clemency is not a sign of political liberality. It is instead one of those valuable, identifying marks of tyranny.
Charles Krauthammer
Well......some folk may have used other folks money locked in at low interest to purchase assets that rise with inflation.
Knowledge is the enemy of fear