How do you sell your gold/silver in other currencies?
Posted March 25th, 2008 by ebinrock
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Where would you go to sell your gold & silver for other currencies (Euros, yen, etc.) for when the dollar crashes? Or should one sell them for Ameros when they usher those in? The Ameros would be the only legal tender left on this continent, right?
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I'm trading my silver for land.
I might not ever let go of my gold.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
keep the silver
trade the gold.
I'm not even close to doing anything yet.
________________
Good luck to us all,
Lisa C.
www.women4ronpaul.com
Hope I am dead wrong, but...
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If the North American Union comes to pass and the Amero is the coin of the realm, we will most likely see widespread reclamation of all gold, as we did in 1933 under Franklin Roosevelt.
That is not to say that an individual's gold coins would be worthless, but that they could not be used to purchase things, or to be exchanged for script once the reclamation period has passed - if it does.
Worse, if the NAU Government agrees to buy gold and silver from individuals, it will most likely pay less than $100 per ounce: take it or leave it.
Again, I hope I am dead wrong, but I do not trust the government, nor the likely events on the horizon.
You know, I wonder about
You know, I wonder about that, because in 1933 everyone had gold, since technically we were still on a gold standard (or at least a semblance of it) and gold was still used as money. Contrast that to today where a lot of "sheeple" still aren't aware about gold, silver, etc. and ignorantly believe those green pieces of paper with the presidents on them are money, none the wiser. Would it be worth the government's time and effort (and money) to pursue every American, go door-to-door of the homes of 300 million people, when only a relative few who know about the monetary situation will have gold or silver? Did they go door-to-door in 1933, or did they just confiscate it all from the bank vaults?
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"It is not the abuse of power, it is the power to abuse."
- Michael Cloud, Libertarian
Learn What Real Money Means
Why would you sell gold or silver for Ameros, another worthless, fiat currency? Unless a currency is backed by some valuable commodity (like gold and silver), its purchasing power is based on its acceptance as "money", and it realtivity scarcity. A currency which is not redeemable with a fixed amount of gold or silver (or other valuable commodity) can be printed whenever greedy politicians desire.
We all need to know what real money is: something that we all agree to use as a common medium of exchange, that has real value. That description does not fit any of the currencies that I am aware of. Real money has real value. Real money does not derive its "value" from a government edict (legal tender law).
Yes, I know, I know Greg,
Yes, I know, I know Greg, but I'm thinking of the obvious difficulty in trying to walk into a store with a gold or silver coin, especially a U.S. Eagle or something, and IF they're willing to take it, they'd typically be so uninformed as to only accept it for the face value of it, like the $20 or $50 or whatever. In our world's crazy messed-up economic system, the only way you can get the real value (or at least close to it, because coin dealers will jack with you at least a little for profit), is to sell the coin(s) to a coin dealer or individual for whatever amount of the legal fiat currency it's worth. You can't expect to buy anything directly with the gold or silver coin(s) and have the clerk accept the coin for its real value. If you insist, they'll quickly say, "Uh, security, get over here, we have a live one here!"
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"It is not the abuse of power, it is the power to abuse."
- Michael Cloud, Libertarian
You might want to try the
Swiss Franc. In the 90s, when other nations accumulated gold in preparation for the Economic and Monetary Union, the Swiss Franc left a full gold-convertible backing in place although that characteristic was removed in 2000 following an amendment to the Swiss Constitution. It is still, according to the Swiss, 40% backed by gold and has tended to hold its value because its issue is limited. There are not that many of them around.
By the way, while I'm at it,
By the way, while I'm at it, just curious, is there any country left in the world that doesn't use a fiat currency (i.e., rather, a "hard" currency)?
------------------------------------------------------------
"It is not the abuse of power, it is the power to abuse."
- Michael Cloud, Libertarian
No --- I believe that the
No --- I believe that the Swiss, as stated above, are the closest, but the Swiss franc still has only an ad hoc, partial and de facto gold backing, not demanded or specified by law.
Sadder yet, there is not a single example of an actual circulating, precious metal coin anywhere in the world currently. I had the pleasure last year, for the first time ever, to actually use one such coin, the 100 peso bimetallic, silver & brass coin of Mexico. However, the value of the silver in it has now exceeded its face value, so they are being hoarded and withdrawn from circulation.
don't sell
buy american eagles. preferably silver eagles. also 90% silver coins all legal tender that will hold its value. of course with the scarcity and demand for silver its value will rise.
If you can find them!
If you can find them! Shortages of silver Eagles and other, smaller silver bullion coins are rapidly appearing around the country.