ANDY (silver question) : LUSENET : TimeBomb 2000 (Y2000) : One Thread

Hi Andy

I have accumulated some silver eagles,if TSHTF will they be worth $1.00, the price I paid for them or the spot(?) market value of 1 troy oz.? If there is calamity is my silver (worth) going to be recognized by John Q Public ?

I still got 3 days any quick suggestions or answers ?

Thanks in advance.

-- capnfun (, December 28, 1999


Silver Eagles say very clearly "1 Troy oz. fine silver". They bear the marks of the United States government.

Every person who is not knowledgeable about coins and money who I have shown a silver Eagle has over-estimated its true worth. In an economic disaster, no one will think these coins are worth the same as one piece of paper with George on it. Just my opinion.

-- David Holladay (, December 28, 1999.

Not sure I understand your question. The spot price is currently $5.265 and US Eagles retail for maybe $8.50.

Silver went to $50 last time it ran, and gold to $850, 20 years ago.

I see silver in an oil-shock/ market crash scenario going to $100 an ounce therefore hang on to what you've got.

And don't worry - folks learn VERY fast all about gold and silver in a barter/panic/food disruption situation.

I have 26,000 ounces on margin, cost me $34,000.

That's how sure I am that silver will go ballistic once let off it's leash.

Not long now.

-- Andy (, December 28, 1999.


What I mean is,in a barter/pay (situation in everyday life ??) if it gets shitty will joe 6pak equivalate(sp?) a silver dollar with $1.00 or $50.00? Should I mayhaps cashout/transfer these funds into smaller denomonations of equal value,for expediencies sake.

Thanks again.

-- capnfun (, December 28, 1999.

I would stick with the Eagles, or maybe exchange them for 1/10 oz ones but these cost more.

Silver is silver. People KNOW, believe me. They LEARN very quick when they're hungry.

-- Andy (, December 28, 1999.


Not to sound stupid but what if I am the one wanting to buy something? I am aware of the investment ramifications,my question is in regards to what will be called everyday life,purchasing power.



-- capnfun (, December 28, 1999.

If the new economy results in a barter system Joe 6-pack isn't going to want or have silver. Barter is an exchange of services or goods. What GOOD is a peice of silver to Joe 6-pack? I said this once before but I like to hear myself talk - if you sincerely believe that we will be in a bartering economy then a case of soap or toilet paper is going to be worth a heck of a lot more than it's cash/gold/silver equivalent. Then again you can always melt down your silver to start a cottage industry making post-apocolyptic jewelry.....

-- Witch Doctor (, December 28, 1999.


You state the obvious - yes you are right. I'm assuming everyone has stockpiled all the necessities, plus extra for barter. For example, apart from coins, I have loads of salt, rice, canned food, spices, etc. etc.

Coins come into their own right once the initial panic subsides - then you can deal. Lot of ifs here, it all depends on a bunch of factors, not least of which is general societal stability/functioning gubbmint/police etc.

-- Andy (, December 28, 1999.

Listen up. Lets say you buy a whole bunch of pre-1965 US silver coins/silver rounds/silver bars/silver Eagles or silver what-evers.

Now you start to worry. How will I buy gas/beer with this stuff? Why would the guy at the gas pump know what this stuff is worth?

No problem. I predict that all through your town there are cash rich businesses shorting the bank. They are sitting on a mountain of cash. They think they have this y2k thing solved for sure.

If/when gold/silver prices rise dramatically in January, prices for lots of things will go up as well. This is inflation. If gold/silver go up much faster than other commodities (which they will, because of massive short-covering and people trying to get off of the paper system into something real); then those local people will want to shift some of their cash into precious metals. But how? You cannot just pick up the phone in January and call a coin dealer in the big city and say "I need 3 bags of junk silver and 1000 silver Eagles".

If you tell local jewelry dealers/coin dealers/pawn shop owners that you have some coins now, they can set up a deal for you. Let the local dealer take a 5-10% cut. In January, sell a portion of your stash for a large profit. With luck, you can have as much cash as you invested, and still have 60-90% of the silver intact.

Now go to the gas station. Lets say they say it will cost $100 for 10 gallons of lead free. If silver was $100 an oz., a quick calculation is that 6 junk silver quarters or 1 silver Eagle would cover the tab (for the silver impaired, $1 in face value of pre-1965 US silver coins contain .72 oz, so 6 quarters would be 1.08 oz., a slight over-payment). You offer the guy a choice between silver and cash. Depending on his answer, and your own stash, you pick the payment method that best meets your needs. You are in the driver's seat, not the guy selling stuff.

If you feel the economy is about to re-assemble, then by all means air-freight your stash to a reputable dealer who will wire the proceeds into your e-trade account. I hope you get to bet on the Dow when the Dow really does hit bottom. But check how the Dow kept going lower and lower during lesser depression of the 1930's. It took till 1932-1933 for the Dow to lose 90% of its value. If it does the same in 2000-2004, it will go down to 1,200 points. If you buy at that point, you really will wish that the Dow will eventually ge to 36,000 points.

Of course, life might get ugly between now and you life on easy street. Be sure to watch all the Mad Max movies to learn how Mel Gibson copes with a collapse of the economy.

-- David Holladay (, December 28, 1999.

Hey Andy, Whats the latest on the GATA situation? Is everthing still proceding as it was a few months back? Is headway still being made, or when the shorts came back in a few months back did that take the wind out of the sails? Thanks

-- Rich (, December 28, 1999.

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