[quote]dmaddox wrote:
Where do you buy your coins? I am looking for a company to buy coins and buillion through, but they have a mark up of about 10% on average. I think that markup is outrageous. Mutual Funds at worst are 5.75%.[/quote]
There will always be a premium charged on (physical) precious metals over the spot price. Ebay is a good source provided you only buy from established dealers with solid feedback. However, I called a coin shop locally yesterday and they were asking $1,207 for $50 American Gold Eagles (1 oz gold coins); eBay had them for a bit higher.
You’re looking for 90% junk silver coins, not collectible uncirculated ones, if you want a form of tender.
[quote]John S. wrote:
laissez-faire is the answer. Just like in the late 1700’s early 1800’s when the seperation of church and state happened we need a seperation of economics and state.
[/quote]
ABSO-FUCKING-LUTELY
The bigger the govt has become the more fucked up things have become (you name it, anything “public” is FUBAR).
All you liberal clowns ask yourselves - are the ghettos any better now that the govt has socially engineered entire generations at the cost of TRILLIONS?
[quote]dmaddox wrote:
Where do you buy your coins? I am looking for a company to buy coins and buillion through, but they have a mark up of about 10% on average. I think that markup is outrageous. Mutual Funds at worst are 5.75%.[/quote]
There will always be a premium charged on (physical) precious metals over the spot price. Ebay is a good source provided you only buy from established dealers with solid feedback. However, I called a coin shop locally yesterday and they were asking $1,207 for $50 American Gold Eagles (1 oz gold coins); eBay had them for a bit higher.
You’re looking for 90% junk silver coins, not collectible uncirculated ones, if you want a form of tender. [/quote]
Thanks for the info. I have been investing in the stock market for 16 years now, real estate for about 5 years, and really never thought of buying buillion in any form or fashion. I have purchased a precious metal Proof coin for each of my children the year they were born, but that is about it. I have been given coins over the years also. I am going to have to do some research on buying bulk 90% junk silver coins. The issue I have is storage of $1000 face value bucket. That is a bunch of coins.
[quote]John S. wrote:
laissez-faire is the answer. Just like in the late 1700’s early 1800’s when the seperation of church and state happened we need a seperation of economics and state.
[/quote]
ABSO-FUCKING-LUTELY
The bigger the govt has become the more fucked up things have become (you name it, anything “public” is FUBAR).
All you liberal clowns ask yourselves - are the ghettos any better now that the govt has socially engineered entire generations at the cost of TRILLIONS?[/quote]
Do you guys really think that things were better back in the 18th and 19th centuries?
“Today the size relationship between United States coins still exists but for reasons of tradition only. Also, none of our current coins are legal tender and no one is obligated to accept them as money. Money’s definition has changed radically over the years and now only paper money in the form of Federal Reserve Notes are considered legal tender.”
[quote]toddrc wrote:
I would argue that a better tax code had no impact at all for the majority of people in the 18th and 19th centuries.[/quote]
But then again you’d lose the argument.
Want more examples of other “things?”[/quote]
Ha! I admire your confidence for sure, but I’m not in this thread to win a debate. Just curious why some folks on here have such a strong affinity for the days of our founding fathers. I’m not convinced that those times were better because many of the civil liberties that we take for granted today were not available for all.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
That and gold, call me a conspiracy theorist but all these sell your gold commercials have me thinking whoever controls these gold company’s is having some for foresight for the future of currency.If our country crashes and the american dollaor is worthless then things like gold and silver coins will still be of value.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
That and gold, call me a conspiracy theorist but all these sell your gold commercials have me thinking whoever controls these gold company’s is having some for foresight for the future of currency.If our country crashes and the american dollaor is worthless then things like gold and silver coins will still be of value.[/quote]
This is the first time I have ever contemplated buying junk coins, and buillion. I have only bought 3 proof coins in the past, but I am now seriously looking to buy buillion and junk coins going forward. I am more worried about storing the coinage than anything else.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
That and gold, call me a conspiracy theorist but all these sell your gold commercials have me thinking whoever controls these gold company’s is having some for foresight for the future of currency.If our country crashes and the american dollaor is worthless then things like gold and silver coins will still be of value.[/quote]
This is the first time I have ever contemplated buying junk coins, and buillion. I have only bought 3 proof coins in the past, but I am now seriously looking to buy buillion and junk coins going forward. I am more worried about storing the coinage than anything else.[/quote]
Think of it as going on strike. By removing your wealth from the hands of the looters, you are not letting them use the product of your efforts. They can’t inflate away your hard earned savings.
“This is the strike of the men of the mind, Miss Taggart. This is the mind on strike.”
"Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it becomes, marked: ‘Account overdrawn.’
I don’t people understand the scope of the problem. This isn’t something you fix in 4 years, 8 years or even 20 years. We are talking about a solution that transcends generations, because that’s how overleveraged the US is.
Basically put, you can’t increase benefits and decrease tax collections. It just doesn’t work that way. Ever since Reagan started this whole “lower taxes, bigger government” mess, we’ve been mortgaging our future. Right now, the US has something like 70 trillion dollars of unfunded liabilities (eg SS, medicare, medicaid). When you consider the entire net worth of the US is about 50 trillion dollars, you have to see something has to give.
Secondly, we went from being the world’s premier creditor nation to the world’s #1 debtor nation. In just about every category that mattered, the US was #1 during the '50s and '60s and even in the '70s. However, this isn’t the '50s anymore. The US is now right in the middle of the pack when it comes to most major indices. We used to produce close to 14 million barrels of oil a day. That’s an astounding number, accounting for 40% of global production back in the '60s. Even today, Saudi Arabia “only” pumps 11-12 million barrels a day, although they say they have the capability to increase that to 17 if the need arises.
Now, the US produces less than 8 million barrels a day, while we consume more than 20 mbd. This is why energy independence (just one facet where America is overleveraged) is a joke. China knows this as well, after all they import a fuckton of oil as well. However, China got off it’s ass and did two things. One is that it bargained with just about every oil rich country in the world. Secondly, they are doing something ridiculous like making 500 nuke plants in 10 years, or something close to that number.
While the US is busy squabbling over whether or not Obama is a socialist (he’s not) and how best to screw over the future generations with debt, China and other creditor nations have been busy gobbling up natural resources left and right. Already, China has us by the balls. At great cost to themselves, they could cripple the US’s economy tomorrow, by flooding the market with US T-bills. We aren’t talking '70s inflation, we are talking '30s level inflation in the Weimar Republic.
Huge generalizations you are making. You really think the Chinese are trying to purposefully cripple the US with cheap plastic crap? Hahaha!
No, dumb Americans are crippling themselves with the help of central banking and easy credit. China is just saving, investing, producing and trading. It is natural that they would want to eventually become consumers like the US, too. They have worked hard and saved where as the typical American has tones of credit card, auto, tuition, and mortgage debt – yet, no productive income to pay it off.
Economics 101 – you got to work and save if you ever want to accumulate real wealth.
Note: Everyone here should buy some silver coins (pre-1965) on a monthly basis. Soon, that’ll be the real money.[/quote]
That and gold, call me a conspiracy theorist but all these sell your gold commercials have me thinking whoever controls these gold company’s is having some for foresight for the future of currency.If our country crashes and the american dollaor is worthless then things like gold and silver coins will still be of value.[/quote]
This is the first time I have ever contemplated buying junk coins, and buillion. I have only bought 3 proof coins in the past, but I am now seriously looking to buy buillion and junk coins going forward. I am more worried about storing the coinage than anything else.[/quote]
I’m certainly not a gold bug nor do I think things are going to go the way many people here seem to think. But I have to say that putting some small portion of your total investments in junk silver and gold could act as a reasonable catastropic monetary insurance policy.
Right now, the US has something like 70 trillion dollars of unfunded liabilities (eg SS, medicare, medicaid). When you consider the entire net worth of the US is about 50 trillion dollars, you have to see something has to give.
[/quote]
Per the debt clock, 108 Trillion in unfended Liabilities, 72 Trillion in assets.