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So Silver is over $24/oz....

Discussion in 'Survival/Preparedness Forum' started by emt1581, Oct 13, 2010.

  1. Careby

    Careby

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    Jul 22, 2010
    Northeast Kentucky
    Well of course for two people to trade when only one of them has what the other wants... that's where the need for money/currency arises. Something they can both agree on the value of, and can be used by the seller to later buy what he wants that the original buyer didn't have. I don't know if the money agreed upon will be silver, but that makes more sense than defunct paper money (although some will probably accept that out of habit or sentimentality). Some early forms of currency will probably be things with universal barter value, like bullets, matches, cigarettes, liquor, toilet paper. Then later things with intrinsic non-utilitarian value like precious metals or gems, eventually evolving into stuff with only symbolic value, like our Federal Reserve Notes which require faith in the issuer.
     
  2. G29Reload

    G29Reload Tread Lightly

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    Sep 28, 2009
    Um, no, that's about right.:cool:
     


  3. emt1581

    emt1581 Curious Member

    19,885
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    Oct 17, 2002
    Penn's Woods
  4. I've got 100oz sitting in my safe that I think I paid around $10 for. If I sold at $1 under spot I'd.have enough money to put a new roof on my house and a new .22 for my kid for Christmas. Hmmm
     
  5. quake

    quake Millennium Member

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    Aug 4, 1999
    Arkansas, USA
    Expensive roof - isn't that around $130k or so? :dunno:
     
  6. Don H

    Don H

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    :headscratch:
     
  7. racerford

    racerford

    4,667
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    DFW area
    I am glad you are not my accountant. It would be nice if you were paying me though. :whistling:
     
  8. quake

    quake Millennium Member

    4,108
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    Aug 4, 1999
    Arkansas, USA
    Makes me think of Zardoz.
    [​IMG]

    :sad:
     
  9. crimsonaudio

    crimsonaudio 15 or 30?

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    Apr 11, 2008
    100oz @ ~$25/oz ≠ $130k, more like $2,500.

    Inexpensive roof.
     
  10. quake

    quake Millennium Member

    4,108
    60
    Aug 4, 1999
    Arkansas, USA
    No, my math skills are fine. It's my attention span that's lacking - I was thinking about gold, but the thread is about silver.
    I is not overly bright sometimes... :therapy:


    Never mind; nothing to see here... :toilet:
     
  11. Yea, heck I wish I had 100oz of gold sitting around. I wouldn't have a mortgage lol. And yea, I was figuring around $2000 for the metal roof if I do the labor myself, and another couple hundred to get my boy a 10/22 and a good scope.
     
  12. jlpskydive

    jlpskydive

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    Apr 17, 2009
    Fl
    Over $26 now.
     
  13. Don H

    Don H

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  14. jlpskydive

    jlpskydive

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    Apr 17, 2009
    Fl
    At the rate it's climbing right now that could be this afternoon....:wow:
     
  15. 1 old 0311

    1 old 0311

    3,354
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    Jan 2, 2006
    Planet Earth

    Yes but according to a few on here we were FOOLISH to but at $10 per ounce. Wonder where they are today?:rofl::rofl::rofl::rofl:
     
  16. Warp

    Warp ΜΟΛΩΝ ΛΑΒΕ

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    Jul 31, 2005
    Atlanta
    So the roosevelt dimes I picked up for $1.00 each now contain $1.90 in silver (spot value) while my eagles, purchased around $14-$16, have a spot value over $26.

    Not bad. Definitely a better direction than the FRNs sitting next to them. :(
     
    Last edited: Nov 4, 2010
  17. emt1581

    emt1581 Curious Member

    19,885
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    Oct 17, 2002
    Penn's Woods
    Is our currency (USD) seriously becoming less valuable by the hour now??

    -Emt1581