Silver and Gold payment

[Mad_Max]

http://www.youtube.com/watch?v=EkaFhz-Vtw0 (http://www.youtube.com/watch?v=EkaFhz-Vtw0)

[osoab]

Part 2.

http://www.youtube.com/watch?v=XUVxBZ4xnr8&feature=related

I liked the 25 dollar value for half ounce of silver to get gas. This was made on 7-13-10.

[Sparky]

Happy to see people recognizing PM as real money, but...

Why would you pay with precious metals while FRNs are still being accepted? I suppose it could be viewed as a gesture to starve the beast, which is good.

[SLV^GLD]

Happy to see people recognizing PM as real money, but...

Why would you pay with precious metals while FRNs are still being accepted? I suppose it could be viewed as a gesture to starve the beast, which is good.

Gresham's law dictates that you don't. Real progress begins when FRNs are no longer accepted. Wonder what will be accepted at that point?

[sirgonzo420]

Happy to see people recognizing PM as real money, but...

Why would you pay with precious metals while FRNs are still being accepted? I suppose it could be viewed as a gesture to starve the beast, which is good.

Gresham's law dictates that you don't. Real progress begins when FRNs are no longer accepted. Wonder what will be accepted at that point?


Same as with Zimbabwe.....

Bread for gold!

http://www.youtube.com/watch?v=7ubJp6rmUYM

[BrewTech]

Happy to see people recognizing PM as real money, but...

Why would you pay with precious metals while FRNs are still being accepted? I suppose it could be viewed as a gesture to starve the beast, which is good.



I do it when I can. Sometimes I tip in 90%, but only if I know that the recipient understands what they are receiving. Feels really good to trade real money for valuable service. The recipient is usually an honest local business owner that I would consider a friend, and that didn't know anything about the value of PMs before I came along....

I'm happy to help someone with integrity build a small metals position in the course of doing business with me, even if it means I'm giving up a little in violation of Gresham's Law..

[Awoke]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.

[Plastic]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.



A half ounce of silver 'round here is worth close to 5 gallons right now and that is just the spot price, wait until the manipulation crap is over it will buy even more.

[osoab]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.


This is what they were using in the first vid. At first I thought they were using just ordinary rounds.

RON PAUL 999 Silver Liberty Dollar $25 norfed 1/2 oz ag (http://cgi.ebay.com/RON-PAUL-999-Silver-Liberty-Dollar-25-norfed-1-2-oz-ag-/220626338422?pt=LH_DefaultDomain_0&hash=item335e5ac276)

I would put the same idea as these Andrew Jackson (http://jacksonsilver.com/) rounds which are going for 35 frn's each with a face value of 50. The Jackson's were set up to work within a trade group. I don't believe they really took off.

[osoab]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.



A half ounce of silver 'round here is worth close to 5 gallons right now and that is just the spot price, wait until the manipulation crap is over it will buy even more.


That is until gas hits 4, 5, 10 bucks a gallon. >:(

[Twisted Titan]

I am astounded that they actually said that FRN HAVE NO VALUE on national TV.

Yet not one in million understood the implications of it

[osoab]

I am astounded that they actually said that FRN HAVE NO VALUE on national TV.

Yet not one in million understood the implications of it


Yeah, that is funny. That isn't towing the party line. But it did air in the Flint Michigan area. All them brothers know where to get some bling now.

[Awoke]

These guys always have to tell you the truth. It's some weird masonic evil/good deeds balance system they have.



I bought a small stack of these half-ouncers here:


http://www.apmex.com/Resources/Catalog%20Images/Products/35596_Obv.jpg

http://www.apmex.com/Resources/Catalog%20Images/Products/35596_Rev.jpg

[Awoke]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.



A half ounce of silver 'round here is worth close to 5 gallons right now and that is just the spot price, wait until the manipulation crap is over it will buy even more.


That is until gas hits 4, 5, 10 bucks a gallon. >:(



The paper price is not reflective of the "Street value" of Silver.
With the paper price at $29, I doubt I could buy rounds for less than $38 from our local scam artist bullion dealer.

When silver his $18 a few years ago, that prick tried to sell me rounds for $26 (Maples/Eagles). He wanted $24 for his generic stuff. I have never given him my business since.

I know that some of you can buy bullion from a dealer at X-Amount over spot, but our guy does not operate that way.

[Twisted Titan]

With Silver Sitting strong at Thirty The Mercury Dime is the most cost effective way to get your Ticket on the Silver Train before it leaves the Station.


Its very surreal...... I remember when I could buy Mercs for less than a dollar out the scrap bin.

Now that very same Merc will cost me almost Three Bucks.

Its is amazing when you see the beginnings of Validation

[chad]

IMO a half ounce of bullion silver is worth more than 4 gallons of Gas.



A half ounce of silver 'round here is worth close to 5 gallons right now and that is just the spot price, wait until the manipulation crap is over it will buy even more.


That is until gas hits 4, 5, 10 bucks a gallon. >:(



The paper price is not reflective of the "Street value" of Silver.
With the paper price at $29, I doubt I could buy rounds for less than $38 from our local scam artist bullion dealer.

When silver his $18 a few years ago, that prick tried to sell me rounds for $26 (Maples/Eagles). He wanted $24 for his generic stuff. I have never given him my business since.

I know that some of you can buy bullion from a dealer at X-Amount over spot, but our guy does not operate that way.


same here. one guy wants $-5 over spot for generic, and CASH only. i've been writing him checks for 3 years, now it's all under the table + he wants to rip you off to boot. last time i was in (the last time BTW), he tried to sell me a generic 9.89 ounce bar for $5 over spot, and he treated it like it was a full 10 ounces.

i'm now driving 17 miles to another guy who only wants $2 over.

[Twisted Titan]

And to think

That dealer is going make money hand over fist when the sheep come barging in to get a a piece of the action.

He will have them paying sales Tax with a murderous spread AND paying cash on the barrelhead but the sheep wonth be able to figure out the level of rape they are being subjected to.

This is a bad time to learning about PM's cause the cost of education is going to be extremely dam high.


T

[madfranks]

It's funny to think: with silver now between $29-30/oz, if we were still using the standard silver coins from our pre-'65 days, what is today a $4 gallon of gas would cost 18 cents. 18 cents/gallon gas, can you imagine?

[Ponce]

Medfranks? I don't have to "image" because that's what the future will be like.

[Plastic]

I dunno where y'all live, but here in Indiana gas runs around 2.87 a gallon. That means a single merc dime will get you a gallon of fuel with a small %age left over, 18 silver cents a gallon my foot! it is more like 9 cents.

[BrewTech]

I dunno where y'all live, but here in Indiana gas runs around 2.87 a gallon. That means a single merc dime will get you a gallon of fuel with a small %age left over, 18 silver cents a gallon my foot! it is more like 9 cents.



Riverside CA today... 3.35/gal for regular.

Just sayin'...

[Plastic]

Damn, talk about getting scalped...

[vacuum]

My "local" guy is charging only $1.50 over spot for generic. Sounds like I'm pretty lucky? He's still a drive but doable.

[SilverMagnet]

Not sure how many use this site: http://coinflation.com/

But for those who haven't heard of it, there is a list of the melt value for US coinage.

[solidus]

Am I correctly interpreting coinflation.com's information in that the only currently produced coinage that actually carries a value at melt greater than face value is the nickel? It appears that the current melt value of a nickel is about 6.5 cents (1.25 x face value)? If this is correct, why are we not all buying all the nickels we can store and realize an immediate 25% gain?

[madfranks]

Am I correctly interpreting coinflation.com's information in that the only currently produced coinage that actually carries a value at melt greater than face value is the nickel? It appears that the current melt value of a nickel is about 6.5 cents (1.25 x face value)? If this is correct, why are we not all buying all the nickels we can store and realize an immediate 25% gain?


A lot of people are. ;)

[DMac]

Am I correctly interpreting coinflation.com's information in that the only currently produced coinage that actually carries a value at melt greater than face value is the nickel? It appears that the current melt value of a nickel is about 6.5 cents (1.25 x face value)? If this is correct, why are we not all buying all the nickels we can store and realize an immediate 25% gain?


A lot of people are. ;)


Hoard Nickels. Legally rob a bank today!

Keep your pennies and keep your dimes..... (http://gold-silver.us/forum/general-discussion/keep-your-pennies-and-keep-your-dimes/)

Why I save nickels.............get ready. (http://gold-silver.us/forum/general-discussion/why-i-save-nickels-get-ready/)

The "Hoarding Nickels" Thread (http://gold-silver.us/forum/other-metals/the-%27hoarding-nickels%27-thread/)

Slightly related:
Copper Penny Hoarding - Reason for GIM Closure ? (http://gold-silver.us/forum/discuss-gim/copper-penny-hoarding-reason-for-gim-closure/)

__________________________________________________ ____

The logic behind it all:

Gresham's Law (http://eh.net/encyclopedia/article/selgin.gresham.law)

"Bad money drives good money out of circulation."

Same as it ever was.