Has anyone else lost faith in the "Paper Promise"?

[HoneyBadger]

I echo this sentiment as well. About 18 months ago, I bought my first silver bullion... Wish I would have started sooner, but I can't help but wonder if you'd be entering the metals game now, if you're a bit too late to reap enough benefit to go "all in".

Take a look at www.coin-rare.com and others, to order bullion. It ships fast and doesn't have an outrageous % over spot, and definitely stick with bullion. IMHO, there's no reason to pay a premium just because that 1 oz coin is a "collectable".

Those are the best online prices I've seen in a while. I've been wondering if it's too late to go in on something like silver, but according to the gold/silver ratio, silver ought to be priced around $140 an ounce. I'm not sure why there's such a disparity, but I might try to get in on it!

[Sawin]

Those are the best online prices I've seen in a while. I've been wondering if it's too late to go in on something like silver, but according to the gold/silver ratio, silver ought to be priced around $140 an ounce. I'm not sure why there's such a disparity, but I might try to get in on it!

Yes Sir. I started looking for a good resource to buy bullion right after the bubble popped late last spring and the price plummeted. coin-rare.com was the best price I was able to find, and they have everything from 1/10th of an ounce coins (about the size of a dime) upward. I like having some of the little stuff and 10oz ingots, and not having a difference in price based on it's weight.

[hollohas]

Yes Sir. I started looking for a good resource to buy bullion right after the bubble popped late last spring and the price plummeted. coin-rare.com was the best price I was able to find, and they have everything from 1/10th of an ounce coins (about the size of a dime) upward. I like having some of the little stuff and 10oz ingots, and not having a difference in price based on it's weight.

What do they charge for shipping?

I am partial to buying local with cash so there is no record.

Edit: I found the shipping costs. For 1oz Silver rounds, unless you are buying 6 or more and pay by bank wire (which comes to $2.79 over spot) you can buy locally for cheaper. Anything more than 6 you are getting a darn good deal.

Just FYI for those that want to buy in smaller quantities.

EDIT #2: I have ZERO faith in the dollar. Your investments based in dollars (401k, IRA, etc) might grow over the years, but the buying power of those dollars will be SIGNIFICANTLY less when you retire. That said, I still have those types of investments specifically because my company matches a portion...

[rbeau30]

EDIT #2: I have ZERO faith in the dollar. Your investments based in dollars (401k, IRA, etc) might grow over the years, but the buying power of those dollars will be SIGNIFICANTLY less when you retire. That said, I still have those types of investments specifically because my company matches a portion...

As do I now. More so than when I started this thread. With the rampant printing of money to pay debt, it is just a matter of time. And ohh don't forget the Treas Dept wanting to manufacture a Trillion dollar coin to pay the debt down?

[hollohas]

And ohh don't forget the Treas Dept wanting to manufacture a Trillion dollar coin to pay the debt down?

I still can't wrap my head around how that makes sense.

[centrarchidae]

I still can't wrap my head around how that makes sense.

It doesn't, really.

But here's the logic:

1) Congress has the power to "coin money."

2) Congress has authorized the Treasury to make platinum coins, in whatever denomination. The intent was to make novelties for coin collectors, but the coins will still be legal tender - at face (not metal) value.[1]

1 + 2 = 3) It's legal for the Treasury to make a one-ounce platinum coin and stamp it "One trillion dollars." Or, $1,600 in metal and $999.999,998.400 in seigneurage.[2]

4) The Treasury then deposits that coin at the Federal Reserve and writes checks or other disbursements against the trillion dollars that they suddenly have in their account.

Take away the smoke and mirrors, and it's the coin version of running the printing press.

[1] We already see this with pennies. They're "worth" a cent in face value, but actually have something like 1.4 cents' worth of zinc, each. They would literally be worth more, hammered flat and sold as scrap.

[2] Literally, means the right of a sovereign to profit from making coins. In context, it's a polite word for "inflation."