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Thread: What to do if Silver rises dramatically ?

  1. #1
    Join Date
    Dec 2017
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    Default What to do if Silver rises dramatically ?

    I am new here but want to learn from the big brains here. I have a stack of silver that I am using to store my savings. My silver is not an investment, and I am not a speculator. I simply want to have my money no matter what happens to the dollar and other fiat money systems...Your opinions could be very helpful.
    I do not yet have any gold, but have only 100 oz silver bars.

    1) How much silver should I have for barter for food, utility bills, etc. until a new system replaces the dollar ?
    2) if silver goes up tp the equivalent of $50, would you sell ? At what point would you sell ? 100 ? 300 ? 1000 ?
    3) If silver goes up dramatically, will my local coin shop be able to buy my silver coins ?
    4) If silver goes up dramatically, will I be able to contact KITCO or will the phones/internet be jammed ?
    5) If silver goes up and the dollar crashes, at what point do I trade it for land or a business or whatever ?

    Your help will be greatly appreciated. Thank you in advance.

  2. #2

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    1) How much silver should I have for barter for food, utility bills, etc. until a new system replaces the dollar ?

    Own at least 500oz. Someday, 500oz may be able to buy a median price home in the US (I'm thinking more like 1000oz, which is what we saw when the Hunt brothers tried to corner the market, but who knows), which would be enough for you to live as a renter for several years.

    2) if silver goes up tp the equivalent of $50, would you sell ? At what point would you sell ? 100 ? 300 ? 1000 ?

    No. I'm not sure when, exactly, but will look for signals like my uber/lyft driver talking about silver, co-workers, neighbors, and friends (or when the most recent two pages on this forum show posts updated on the same day). I might sell a bit there, and buy rental property, and wait to see if hits some benchmarks I have in mind before selling more. Like a 10 to 1 price ratio to gold, a silver to Dow Jones Industrial Average ratio of 20, if a median priced home can be purchased with 1000oz of silver. When these conditions have been met, it may be a good time to sell. All of these ratios are attainable, and have existed before, and could be potentially be exceeded.

    3) If silver goes up dramatically, will my local coin shop be able to buy my silver coins ?

    Yes, probably.

    4) If silver goes up dramatically, will I be able to contact KITCO or will the phones/internet be jammed ?

    Probably.

    5) If silver goes up and the dollar crashes, at what point do I trade it for land or a business or whatever ?

    See my answer to #2.

    Do your due diligence. I'm not highly knowledgeable myself, tbh, but I try to be rational, and realistic, and have a decent intuition on following sound advice. You can't go too wrong investing heavily in silver now, I figure, based on how much it costs to mine it vs. the current price.
    Last edited by kwyjibo; 01-02-2018 at 10:24 PM.

  3. #3

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    I will hafta get out the GPS and the SCUBA gear and borrow the neighbor's boat since mine sunk.....
    IF and only if the price of silver rises dramatically.
    Thomas Jefferson is credited with writing, “When injustice becomes law, resistance becomes duty.” The seceding states in the Civil War period issued a similar declaration using the word “tyranny” as opposed to “injustice.”

  4. #4

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    Quote Originally Posted by Sam Manila View Post
    I am new here but want to learn from the big brains here. I have a stack of silver that I am using to store my savings. My silver is not an investment, and I am not a speculator. I simply want to have my money no matter what happens to the dollar and other fiat money systems...Your opinions could be very helpful.
    I do not yet have any gold, but have only 100 oz silver bars.

    1) How much silver should I have for barter for food, utility bills, etc. until a new system replaces the dollar ?
    2) if silver goes up tp the equivalent of $50, would you sell ? At what point would you sell ? 100 ? 300 ? 1000 ?
    3) If silver goes up dramatically, will my local coin shop be able to buy my silver coins ?
    4) If silver goes up dramatically, will I be able to contact KITCO or will the phones/internet be jammed ?
    5) If silver goes up and the dollar crashes, at what point do I trade it for land or a business or whatever ?

    Your help will be greatly appreciated. Thank you in advance.
    I welcome you to the forum, but with that said I have to say that your thoughts seem to be straight from the old dusty tarnished promotions we've seen for not years, but decades now. Izzy and de boyz from Minneapolis wrote the silver song back in 1982, and the hype remains the same. I'd honestly advise that you sell the 100 oz. bars before chinese counterfeits make those impossible to sell without refining and assay(which costs 15%). You can forget about your local dealer "being there" for you ready to buy at fmv if silver coins become so valuable that you're only a hernia away from dragging in your silver in exchange for a home. The dealer will only be open and paying fairly to those that brought him lunch occassionally, or a box or hot now doughnuts. Even a blueberry muffin or 3. A blt, extra bacon, lightly toasted, mayo on the side is a good way to break the ice with a new dealer. Add frys and a chocolate shake for special pricing.
    Last edited by insidedealer; 01-02-2018 at 11:13 PM.

  5. #5

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    Quote Originally Posted by insidedealer View Post
    I welcome you to the forum, but with that said I have to say that your thoughts seem to be straight from the old dusty tarnished promotions we've seen for not years, but decades now. Izzy and de boyz from Minneapolis wrote the silver song back in 1982, and the hype remains the same. I'd honestly advise that you sell the 100 oz. bars before chinese counterfeits make those impossible to sell without refining and assay(which costs 15%). You can forget about your local dealer "being there" for you ready to buy at fmv if silver coins become so valuable that you're only a hernia away from dragging in your silver in exchange for a home. The dealer will only be open and paying fairly to those that brought him lunch occassionally, or a box or hot now doughnuts. Even a blueberry muffin or 3. A blt, extra bacon, lightly toasted, mayo on the side is a good way to break the ice with a new dealer. Add frys and a chocolate shake for special pricing.
    haha made me laugh on that one InDe. i can just about see myself coming into your shop and brin ging you a favorite extra crispy, extra meaty bacon with mayo on lightly toasted wonder bread.


    i think you and my local dealer/friend would get along really fine.

  6. #6
    Join Date
    Dec 2017
    Posts
    4

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    I imagine most people accumulating silver have had similar questions at some time or other, especially when first starting on this adventure. I know I did and sometimes I still question what in the world I plan to do with my stash and when I am going to do it. As newbies here I can imagine also that some of the questions we might ask will annoy some of the old timers; however, having come from an educational background, I am reminded that just because an instructor has taught the same course material for 20 years that doesn't mean the new crop of students already know all of the answers nor have they read clear through the course's textbook on the first day of class. Speaking of textbooks, I am still trying to search the old threads, finding it quite difficult to navigate through them.

    From your post I have one question. Do you have several 100 oz. bars or do you have 100 ounces of 1 oz. bars? Disposing of a 100 oz. bar seems like a real nuisance and maybe a bit risky from the counterfeit standpoint, as previously pointed out. Regardless of the circumstances of your getting rid of your silver, the smaller the ounces the better both from the standpoint of lugging them around to your lcs and their willingness to buy them from you. I have a lot of 10 oz. and 5 oz bars, but my "go-to" choice is 1 oz. coins, rounds, or bars. Also, I have found that a good relationship with your lcs is invaluable both in accumulating more silver and their willingness to give you a deal when they can plus buy back from you.

  7. #7

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    There is only one metal that acts the way the silver does with a rare earth magnet. Invest in a RE magnet for the win.

    ______________

    1) How much silver should I have for barter for food, utility bills, etc. until a new system replaces the dollar ?
    Silver isn't going to help you
    2) if silver goes up tp the equivalent of $50, would you sell ? At what point would you sell ? 100 ? 300 ? 1000 ?
    I would. At least sell some.
    3) If silver goes up dramatically, will my local coin shop be able to buy my silver coins ?
    Yes.
    4) If silver goes up dramatically, will I be able to contact KITCO or will the phones/internet be jammed ?
    They will buy from you.
    5) If silver goes up and the dollar crashes, at what point do I trade it for land or a business or whatever ?
    Dollar is not going to crash.

  8. #8

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    I would go to disneyland

  9. #9

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    Quote Originally Posted by Atlas Shrugged View Post
    There is only one metal that acts the way the silver does with a rare earth magnet. Invest in a RE magnet for the win.

    .
    what special way that silver behave like RE metals?

  10. #10

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    Quote Originally Posted by Sam Manila View Post
    ...I have a stack of silver that I am using to store my savings. My silver is not an investment, and I am not a speculator. I simply want to have my money no matter what happens to the dollar and other fiat money systems...
    Same here, for the most part.

    Quote Originally Posted by Sam Manila View Post
    I do not yet have any gold, but have only 100 oz silver bars.
    Personally, I would buy
    • gold for a large store of wealth, and
    • silver for small stores of wealth.


    I would not buy large chunks of silver for large stores of wealth. Biggest silver I buy is 10 ounce bars, and I buy few of them. I move to gold right away.

    Liquidity is the key. You want to be able to sell when you want, so you want to buy what other people will be wanting most of the time. I would think finding a buyer for a 100 ounce doorstop of silver would be harder than finding someone to buy an ounce of gold.

    Quote Originally Posted by Sam Manila View Post
    1) How much silver should I have for barter for food, utility bills, etc. until a new system replaces the dollar ?
    Sorry...dunno.

    Quote Originally Posted by Sam Manila View Post
    2) if silver goes up tp the equivalent of $50, would you sell ? At what point would you sell ? 100 ? 300 ? 1000 ?
    I will probably only sell when I need to convert the silver into cash (or something else) for specific purposes. As it rises, I might take the opportunity to clean out some of the more oddball components of my stack, but as the price goes up, the more I would wonder if that price rise was the exact reason I bought the silver. I might sell half to take some winnings, and keep the rest for barter. If it all goes back down (like it did after the 2009 crash), then I will have both cash and PMs...a decent place to be in. So, I guess if you decide that you will need 500oz. for barter, then consider buying 1000oz, so you can use some to take profit (although you said you were not a speculator.

    Quote Originally Posted by Sam Manila View Post
    3) If silver goes up dramatically, will my local coin shop be able to buy my silver coins ?
    Probably. They make money on the exchanges. They will likely have just sold a bunch to someone wanting to get in on the rise. They will want to buy more to sell some to others like that. They take their cut from both the buy and the sell. They will be there unless society is breaking down in general.

    Quote Originally Posted by Sam Manila View Post
    4) If silver goes up dramatically, will I be able to contact KITCO or will the phones/internet be jammed ?
    Sure...why not? (Societal breakdowns excluded.)

    Quote Originally Posted by Sam Manila View Post
    5) If silver goes up and the dollar crashes, at what point do I trade it for land or a business or whatever ?
    Hard to say. You will know when that point is for you better than anyone here will.

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