Why purchase Silver and Gold...? It's an excellent question. In answering I can only furnish you my reasons for buying/acquiring precious metals and as a result I hope my reasons become yours as I truly believe we are in for a tough and bumpy ride of a deflationary/inflationary future economic situation, if only for a period of time. Having small amounts of silver or gold could be the difference between barely struggling through or doing OK. How can we you have both inflation and deflation? Well,the answer is very dull and if you do a search for the terms a plethora of articles will promptly arrive at your doorstep,all very dry and wordy. For our purposes here it will do to say you and I, ordinary Joes, will be looking at paying much more for our energy,gas and food. Combine this rise in basic goods with a drop in the dollars spending power and you see where our futures may be heading. Having a modest store of precious metal,which retains and even gains in it's power to buy stuff in dire economic times seems like a no brainer. As I posted in a previous video clip, some stores are already taking junk silver and gold ,that is, pre 1965 US dimes and quarters in exchange for goods based on their silver content, not their face value. A 1960's quarter is more valuable than a 2006 one. Every coin I get in my hand after shopping is checked for it's date. Many people are on to this fact so it is rare to find older coins now this way.
I don't have the money to burn on expensive collector or "numismatic" coins.These are coins that sell for over the value of their silver content due to rarity or nice designs. I don't care about a coins beauty.. I'm too practical for that. Silver should never be purchased for above 2 or 5%
the silver content value. I purchase the cheap, ugly ones whenever I can.
Also,keep your peepers open for silver dishes and cutlery and such like at thrift stores and garage sales.You might be surprised what people will sell for just a few bucks.
A buddy of mine recently picked up gold jewelry at an estate sale for a few bucks because it was an unattractive design. Collecting precious metals does not need to break the bank. I subscribe to the
" a coin here...a coin there" philosophy whenever I have spare dollars.