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View Full Version : This is how much silver $500 buys today



madfranks
16th April 2011, 02:54 PM
I bought a bag of silver at my dealer today, marked at 11.65 troy ounces for $500, which is a hair below spot at $43/oz. It's mostly merc dimes, with some Washington quarters and a couple of 1oz rounds. Anyway, here's a picture of the contents of the bag; $500 worth of silver. It wasn't too long ago when $500 would have bought you a tube of ASEs and some junk silver on the side.

1970 silver art
16th April 2011, 05:38 PM
That is a good point that you brought up because I just finished going to a coin show in Georgia today. I remembered that I carried almost the same amount of FRNs to this year's show that I carried with me to that exact same show last year. I spent close to the same amount of FRNs on silver art bars this year that I did last year but I bought a lot less oz's for them this time around. I bought about half the number of silver art bars at this year's show than I did at last year's show at around this time. Did my paycheck double from last year? Nope. Not even close. Bummer.................. :'(

Ragnarok
18th April 2011, 07:06 AM
Is that about $16 face (counting the one-ouncers as $1)? Around 30:1?

R.

JJ.G0ldD0t
18th April 2011, 07:18 AM
I get a similar picture in my mind, when I think about my grocery cart and the gas tank. The dollar just doesn't go very far. I have a decent paying job, but with the increase of fuel and food I find myself with alot less FRN's with which to make metal purchases.



Agreed- 33 gal tank on my truck and most pumps auto shut off when you hit 75 bux (I SOOO H8 THAT)
So I can't even get the tank full on one card swipe. $75 Doesn't even get me 3/4 tank

bl96S5eu
18th April 2011, 07:36 AM
I get a similar picture in my mind, when I think about my grocery cart and the gas tank. The dollar just doesn't go very far. I have a decent paying job, but with the increase of fuel and food I find myself with alot less FRN's with which to make metal purchases.

Indeed, just sold an old car that died (I buy cheap, throw-away vehicles) and was deciding how much to adjust the price based on the fuel in the tank.

BrewTech
18th April 2011, 07:37 AM
It would buy more now... silver just fell off a cliff!

StreetsOfGold
18th April 2011, 01:26 PM
That "pile" will become smaller in no time

madfranks
18th April 2011, 01:35 PM
That "pile" will become smaller in no time


Yes, and that's exactly the point I was trying to make. Just a few years ago that pile would have been 3x bigger!