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Precious Metals Questions

O.K. lets say silver goes to $1000 dollars are you planning on selling, and taking the fiat dollars? Or are you planning on holding onto it until fiat money is considered worthless?
If you do sell what are you considering putting the money into another commodity?
For precious metals when they go sky high doesn't that mean that the dollar has become worthless? What will you sell your precious metals for then? You surely will not take worthless dollars in exchange.
I'm wondering what your big plans are for your precious metals?
Also I meant to ask what is the best way of selling your precious metals? APMEX or something like Ebay?

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Putting the hypothetical $1000 mark really sets the stage

but it won't go from $17 to $1000 in an instant. There will be a long time of ups and downs in between. Most likely, some will try to profit off the variance in currencies to silver or gold. Others will try to take advantage of the swings to increase their holdings. (the present strategy I follow - buy in the fall, sell in the spring)

Of course you should never clear out of your position in anything except paper in one fell swoop. And generally never more than 25% of your holdings at a time. If the price continues to rise, and you sold out, you missed out. If it drops, you don't have to keep selling and can wait for the next high. (even if that is years away)

Personally, I've traded just about all the silver out that I intended to trade with and the remainder I hold as an emergency currency to actually use in commerce, not exchange with FRNs first.

90% "junk" silver is great for this since it comes in convenient sizes of dimes, quarters and halves - something people already recognize. (there are still whole dollars out there, but they have a much higher premium and so whole ounce Eagles are more bang for your buck)

The Nice Thing About Physical Silver And Gold Is;

They are sold in increments.
Therefore, lets say you manage, over a period of time, to accumulate 100 ounces of Gold or Silver, and Silver goes to $1,000 per ounce.

If the Silver is in one ounce increments, you could sell one ounce a month as needed for necessities, or if it's in 1/2 ounce increments sell or trade as needed.
I would find the closest "Honest" coin dealer near where you live, and develop a working relationship in buying or selling in small amounts first.

Over 1000 ounces of Silver safe storage may become a problem, so I would slowly start to convert some Silver into Gold, which can be bought in 1/10th, 1/4, 1/2, and 1 ounce or larger sizes. If Silver goes to $1,000 per ounce, Gold could go to $25,000 per ounce, or more.

Don't worry about the buying power of the dollar, Silver and Gold are already considered universal money in coin shops and jewelry stores all over the world, and you should be able to trade for things or local currency, in most places.

beesting

As the Fed Monetizes

the debt, if you own gold, and have debt, you will be monetizing it right along with the Fed. If you owe $100 thousand on a home and gold doubles and the dollars loses 50% then you owe half as much on your loan with gold.

Reply

If this happens do you think they would take the gold or silver for payment or would I have to turn it into F.R.N. first?
Does it matter if it is a Government minted gold/silver coin compared to one minted by a private mint?
If I need F.R.N. what is the best way to sell precious metals?
What are the best places to sell to?

Buy and Hold

until the DOW to gold ratio is 1:1.

Then I will sell some gold and buy some stock...but I will never sell all my gold.

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"the only thing that keeps the banking system from failing is general ignorance about how the banking system works."
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Bump for a great question...

Bump for a great question...

yes it is...

yes it is...

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

hold onto them until the

hold onto them until the price is high enough to buy a house paid in full then just hold onto the rest untill they are used as money.

Precious metals are REAL

Precious metals are REAL money. Federal reserve notes are legal tender, fiat money. The only advantage of frns is that they are more accepted in commerce. But the fact is, they inflate. Gold and silver do not.

The only reason to "sell" your real money (gold and silver) is to purchase something that requires the use of frns.

silver and gold will

silver and gold will circulate just like frn's... trust me.. real money will become real money again.

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Reply

So you plan on holding all of your precious metals until the fiat money dies? No interest in flipping it into another commodity?

this is the problem.. people

this is the problem.. people think silver and gold atre commodities.. THEY are money first.. if silver goes to 1500.00 then that means the dollar is worthless. All other paper will be worthless..I guess it just depends at the time.. they say Gold will then sky rocket after silver sdo I would probably trade some silver for gold..

“Defiance of God’s Law will eventually bring havoc to a society.” - Dr. Ron Paul

Absolutely. Have you ever

Absolutely. Have you ever looked at the history of silver?

http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

Let me ask you a question...

If you could buy a stock.. say Microsoft and the stock was guaranteed to go up, when would you sell? What would be the value? Would you flip it into another commodity?

No you wouldn't. You would hold on to it until you deemed it a worthy time to cash in.

Guess it depends

if one thinks inflation will continue or not.
Markets always tend to overshoot for a short time.
Time will tell.

If silver goes to $1000 per

If silver goes to $1000 per ounce in our lifetime, I would imagine that FRN's would be absolutely worthless.

And in that case, bartering your gold and silver for life's necessities (food, shelter, clothing, etc.) will be the only viable option.