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Not a bad idea to stay solvent. The price of gold, platinum, and silver will only get stronger as the dollar falls.

Spence wrote:Not a bad idea to stay solvent. The price of gold, platinum, and silver will only get stronger as the dollar falls.

Yep. And believe me folks...the dollar is heading for the basement! Printer a "TRILLION" dollars out of thin air alone, reduces the amount each dollar is worth. WHY? Because there are more of them.

If the guv-mint (southern term) gave everybody $200,000 dollars...how much would $200,000 be worth?? A loaf of bread would be $50, and tank of gas would be $300-400 for a regular car.

People have to start using their heads, and that includes the people in guv-mint.

Gold is the only thing that will not lose it's worth. It can be exchanged for any currency on the planet that still has value.

Not just gold, but all precious metals. Platinum has been through the roof and they expect it to go higher. Time to go prospectin'.

Just don't try to pay in copper (a perfectly fine commodity with a nice upswing in price).

The smart alecks who deliver 500 pounds of pennies to pay a parking fine get the short shrift.

billybud wrote:Just don't try to pay in copper (a perfectly fine commodity with a nice upswing in price).

The smart alecks who deliver 500 pounds of pennies to pay a parking fine get the short shrift.

Pennies aren't copper any longer. (Not since 82) They are made of zinc. Brass for years (copper-zinc, mostly copper.)

Yeah, they are Zinc with copper plating.

I'm not sure this is a good time to by precious metals. I think that ship has sailed. I know many believe the prices will move up, and they may in the short term, but I think the real money to be made on precious metals was made a few years back. I think the people who are saying buy gold today are the people with gold to sell.

Spence wrote:Yeah, they are Zinc with copper plating.

I'm not sure this is a good time to by precious metals. I think that ship has sailed. I know many believe the prices will move up, and they may in the short term, but I think the real money to be made on precious metals was made a few years back. I think the people who are saying buy gold today are the people with gold to sell.

Zackly,

The time to buy isn't when eceryone is clamoring about it. 18 months to 4 years ago was the time to buy. I talked about it and didn't do it, I did get the wife to move her thrift plan to bonds and securities. From all of the moving I got stuff everywhere, most I couldn't access. Buying metals now is like saying the Great Depression Part 2 is coming to a theater near you. It could happen, some of Christians think it is coming, this one thinks its coming in a form and will be short lived!

billybud wrote:Just don't try to pay in copper (a perfectly fine commodity with a nice upswing in price).

The smart alecks who deliver 500 pounds of pennies to pay a parking fine get the short shrift.

People do that?? I ask because I have to go to court next Wednesday the 1st...And coinage sounds like fun.

Be classy Derek, throw a couple of nickels in their!

WoVeU wrote:

Spence wrote:Yeah, they are Zinc with copper plating.

I'm not sure this is a good time to by precious metals. I think that ship has sailed. I know many believe the prices will move up, and they may in the short term, but I think the real money to be made on precious metals was made a few years back. I think the people who are saying buy gold today are the people with gold to sell.

Zackly,

The time to buy isn't when eceryone is clamoring about it. 18 months to 4 years ago was the time to buy. I talked about it and didn't do it, I did get the wife to move her thrift plan to bonds and securities. From all of the moving I got stuff everywhere, most I couldn't access. Buying metals now is like saying the Great Depression Part 2 is coming to a theater near you. It could happen, some of Christians think it is coming, this one thinks its coming in a form and will be short lived!

I have some both platinum and gold. Not commodity contacts, platinum and gold. It is sort of a hobby type thing. We did it until platinum got so high I couldn't afford it. I still buy some gold, but it is getting beyond my means as well. I have bars and mint coins. I have collected coins since I was 16 and my grandfather gave me his collection - which include several hundred semi proof morgan dollars, peace dollars, and a few double eagles. Lots of history behind the coins and my grandfather who collected them. I haven't ever had that portion of the collection appraised because he didn't want me to sell it and I don't want the temptation. My grandfather wanted me to pass the collection down to the kid in our family who I thought would pass it down and keep the collection going. I figure to pass it along in about 10 to 15 years, I haven't decided which kid will get it yet, though. My sisters oldest daughter is the best candidate for know. She is only 12, so I have to wait a few years to see if she is the one. My middle child is in the running too. I just wish my grandfather would have let me know how he knew I wouldn't sell it so I could pick the right kid. It is a very cool way keep my memories of my grandfather alive and share some of that relationship with his great grandchildren he never met.

Cool Spence. I've thought about over the lat 15 years just for the beauty of the stuff in plain form. A bar of gold or platinum or silver are singularly beautiful things. Kind of a really nice sports car look.

My 2 cents for who to hand it down to. First, the kid who has work ethic, very respnsible with money (a bit of thriftiness for sure), likes or loves history, and a someone with a strong sense of family (high level of respect for elders.) You don't always get a kid who is #1 in all of these areas. Responsible with money 25%, Family/Respect 20%, Work Ethic 20%, Likes History 15%. And the rest: who is smart, who likes art, who picks better mates.

Economic factors and Reverence/Respect are the biggest things that would risk your grandfathers collection. And I would never hand over such a nice thing and that level of responsibility unless I communicated it's value and what would be a good cause to cash it in. (What is that for you, medical treatment, mortgage rescue, put a kid through college?) If it were me and the collection was worth 12k. Then I'd also purchase gov't bonds worth 4 to 6k matured to be the heirship fund, an executor payment, and an emergency buffer.

It is hard to tell how responsible someone will be when they are 12. I can't imagine a circumstance, unless it was completely dire, that I would sell it. I'm not sure then if I would sell the original collection. Only a couple of people, who know me (my mother and my brother), even know about the orginal collection. My grandfather had the valuable part of the collection hidden in his houhalfsse, I was the only one who knew it's location. He also a half dollar collection with Walking liberty, Franklin, and Kennedy's dating back to 1918 and some Barber halves - although most not in good condition. He kept those displayed in his room, but someone broke in and stole them shortly after he died. He collected coins starting at 10 years until he died at 85. It was a big part of his life he didn't sell it in the depression, during several wars, and all kinds of ups and downs in the economy. He was never tempted to sell it, so I can't think of one reason why I would even consider it. The only thing I regret about having it is not being able to display it. It is locked away and I rarely ever see it anymore.

Sounds like a love-hate job to me. I'd hate to not have a coin collection I couldn't look at! Something that gets me in that situation Spence...not selling it because of the heir loom, sentimental value...but then having to treat it like a case of cash....kind of at odds ain't it!

I guess it has always been that way. @#$% serpent.

I am a split the difference guy. How much does your TV and Entertainment electronics cost????

I'd keep a small sample of grand dad's collection at the house. Say 6, 10, 12 coins that look nice. (But I don't want more than 1200 to 1400 worth in the house. And I'd put it in a nice display of your choice. And have a picture of Gramps and perhaps a framed letter from or to him and say a personal article of his that has value to basically no one but you and the family.

Collections are to enjoy, they span generations and other bounds and spur thought and conversation. Just my thoughts Spence...I never really had a grand dad and I missed something. But you are much more cued into this situation, I'm just running my dumb hillbilly mouth, thinking out loud. You'd know what he'd prefer!