Silver is on a dip

trevoringle said:
is the one you usually use around here local or is it still shipped to you?
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The Flea market in Raleigh has 2 guys who sell it. I have been buying 5 gram gold,1 Oz silver and 10 Oz silver for the last year or so every paycheck. The last 6 months it's been tougher to get in small amounts, which is why I had to buy 10 Oz for while. Last couple months though 1 Oz has been back. The guy on the inside booth of the flea market has these cool Silver Bullets. They are .45 cal or maybe .50 solid bullet lugs, I don't think you can actually load them in a jacket with gunpowder but it's another cool way to own an ounce. I always buy what I can physically carry away, I think the paper gold/silver is a sham, here is a pic of a couple of the ones I own.
IMAG0566[1].jpg
 
retroedaddy said:
The Flea market in Raleigh has 2 guys who sell it. I have been buying 5 gram gold,1 Oz silver and 10 Oz silver for the last year or so every paycheck. The last 6 months it's been tougher to get in small amounts, which is why I had to buy 10 Oz for while. Last couple months though 1 Oz has been back. The guy on the inside booth of the flea market has these cool Silver Bullets. They are .45 cal or maybe .50 solid bullet lugs, I don't think you can actually load them in a jacket with gunpowder but it's another cool way to own an ounce. I always buy what I can physically carry away, I think the paper gold/silver is a sham, here is a pic of a couple of the ones I own. View attachment 155273
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is he there every weekend? Might just have to make a trip up there to get some, i would feel better picking it up rather than having to have it shipped to me
 
Looks like a good place to introduce the word "rehypothecated".


Owning physical gold is just as useless as paper gold. If the economy does crash and you have a gold bar and I have a cow, guess who is the richer man.
 
trevoringle said:
is he there every weekend? Might just have to make a trip up there to get some, i would feel better picking it up rather than having to have it shipped to me
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He's there every weekend, if you think you are interested though, let me know. If you want to save the trip I can get whatever you want and mail it to you if you don't mean you would feel better picking it up than having some random person mailing it to you. Unless you are getting into crazy amounts, it shouldn't cost more than a stamp.


Reid said:
Looks like a good place to introduce the word "rehypothecated".


Owning physical gold is just as useless as paper gold. If the economy does crash and you have a gold bar and I have a cow, guess who is the richer man.
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Probably but having different avenues of " Value " in my mind can't hurt. I also stock pile alcohol ( on top of what I consume ) bottled water and I keep a year of food on hand at all times. You never know what situation might occur that brings value to something. I prepare for the worst and hope for the best. That being said, assuming America means to press on and stay the course, I think gold and silver are a steal at their current prices.
 
retroedaddy said:
He's there every weekend, if you think you are interested though, let me know. If you want to save the trip I can get whatever you want and mail it to you if you don't mean you would feel better picking it up than having some random person mailing it to you. Unless you are getting into crazy amounts, it shouldn't cost more than a stamp.
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ill keep that in mind, still doing some research on it right now to see just what i would want to do. I wouldnt mind having you send it since ive seen you pretty regular on here so its a little different than just a place offline, if that makes any sense. haha
 
some asked what made gold and silver more valuable than something else. how did it become currency.

It's pretty simple actually. Gold doesnt grow on trees. Gold cant be synthetically created. Gold cant be faked. and....Gold is easy to stamp with an image.

In short, Gold was hard to come by, people couldnt just go out an make their own money. Take todays standard though. If the federal reserve needs more money, they just print it. Nothing was earned. Nothing created in the economy.

In earlier times, if one desired more currency he had to pay men to go mine it, smelt it, stamp it. This gave it value in society. It put food on the table for those workers. To get that food on the table the workers traded their portion of the gold to bakers, butchers, etc. and those guys paid taxes back to the govt. The physical gold was moved through the economy.

taking a look at today......a bar of gold may be sold to retrodaddy. Tknopp holds this bar of gold at his bank and gives retrodaddy a slip of paper. Tknopp knows Ron wants a bar of gold. Well, he is sitting on retrodaddy's bar and knows it isnt going anywhere. So Tknopp calls up Ron and offers to sell him a bar of gold, as long as Tknopp is allowed to store it in his bank. Ron really wants to own a bar of Gold, so he agrees Tknopp gives him a slip of paper. The price of Gold then goes up and Ron wants to sell. He meets retrodaddy who is happy with his gold purchase and wants to acquire more. Ron sells his gold to retrodaddy and turns over his slip of paper.

Retrodaddy now has two slips of paper representing two gold bars. Tknopp has one gold bar in his bank.

this is rehypothecation.
 
Reid said:
In earlier times, if one desired more currency he had to pay men to go mine it, smelt it, stamp it. This gave it value in society. It put food on the table for those workers.
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I understand how if became currency, but I guess the above quoted portion of your explanation is the best answer to my question.

At one point in our history, or at least in one primitive civilization, Teeth were the standard bartering item. Why teeth? What were they good for after being removed from your skull. It's that same line of thought about gold for me. and I guess the simple answer is, Something had to be selected as the standard and seeing as it was rare, and can't be faked as you said, then I guess the question shouldn't be Why gold, but rather, Why not gold? I'd rather keep me teeth anyway.

thanks
 
yes. i value my teeth greatly. imagine desiring something so much i would my trade teeth for it! your teeth however, i place a much lower value on. Should Ron wanna barter that gold bar for a full set of teeth i could pick up my club and go out and obtain a set. Haha, imagine the uproar over taxes if we were still on the "tooth standard"!
 
LOL... funny to see this pop back up. I've made a whole bunch of money short gold in the last ~3wks.
 
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