GasGuzzler
Hawkeye
If you bought 1000 ounces at $11 per, yes. If you have four ounces it's still not worth it to sell.
Silver
- Thread starter jimbo1096
- Start date
I’m going to be lazy and not search for the answer.
How long have you held it? The time factor sometimes negates much of the gain.
I found a receipt where I had paid $3,300 for a $1,000 face bag of 90% silver dimes in 2002. At $7 under the current spot price of 68 bucks it's worth $43,615. How much do I negate for waiting 23 years?
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That's why I said that my dollars have held their value, rather than made a profit. It's been around 17 years for that price. Bought more later at higher prices, but keep in mind that silver prices have about doubled in about a year and change. If I bought at $30 in 2024 and it's about doubled I show a clear profit. Been buying gold and silver consistently for years. I stopped buying silver at $35 half way through this year.
xtratoy
Hunter
Isn't it great to live in a state that has been under Democrat control for 40 years?
DGW1949
Hawkeye
To me, Silver ain't about "making money". It's about preserving what wealth one already has...Plus, another aspect to precious metals is that they are valued in weight, not dollars. Now, I realize that there's folks here that can't snap to what is being said there, so here's an example that might help:
Back when I first started driving, a good brand of regular gasoline cost around 20 to 25-cents a gallon on an average day....Fast forward to today, and it's real plain that gasoline is now costing far more than that in dollars....but even today, that same gasoline can be had for the same weight of silver that is contained in an old pre-1965 quarter. And most days, you'll even get change back.....Why is that?...because by weight, silver retains the same buying power that it's always had. Our so-called "Dollar" though, not so much. In fact, as of this post, the scrap value of a single (silver) quarter is over 12 U.S. Dollars.
Ref:
https://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html
DGW
Back when I first started driving, a good brand of regular gasoline cost around 20 to 25-cents a gallon on an average day....Fast forward to today, and it's real plain that gasoline is now costing far more than that in dollars....but even today, that same gasoline can be had for the same weight of silver that is contained in an old pre-1965 quarter. And most days, you'll even get change back.....Why is that?...because by weight, silver retains the same buying power that it's always had. Our so-called "Dollar" though, not so much. In fact, as of this post, the scrap value of a single (silver) quarter is over 12 U.S. Dollars.
Ref:
https://www.coinflation.com/coins/1932-1964-Silver-Washington-Quarter-Value.html
DGW
Silver hit $69 today, Gold at $141.94 per GRAM. I can safely say I have cleared profit past inflation. Then again, the dollar is turning to garbage so....... As of yesterday it's out of the top ten strongest currencies again. It'll bounce back in again today or tomorrow. It's constantly at that edge.
It seems like longer
.
Armybrat
Hunter
My dad bought these one kilo bars 60 years ago from a Mexican bank for 15 Pesos/ounce. (That was $1.20 at the time).
Guess I should quit using them as door stops in my home office and put them in the safe….
Guess I should quit using them as door stops in my home office and put them in the safe….
$70 silver has been breached.
https://www.kitco.com/price/precious-metals
https://www.kitco.com/price/precious-metals
dadstillsurfs
Single-Sixer
Oh you mean like Commiefornia? Or the Four Families that have run this state for almost 70 years? Starting back in 1959 with Edmund G Brown..
Any hallmark on the other side? I wonder if a dealer would want to assay them? If they sound like silver when you clink them together, they're probably good. I bet McBrides would pay you over 4K for the pair.
OP
Wish I had bought a pound of platinum way back when
My wife wanted to buy gold at $800, I said no. Stupid me.
Like gold, there are chemical silver tests. Something that large would have to be drilled to be checked properly if it doesn't have a Hallmark.
No, you don't. Unlike gold and silver, it is less popular among buyers. Platinum is 50 times more rare than gold, and has 50x the uses, but where it used to cost double what gold did, now it is around half that of gold. Also, if EV actually catches on, catalytic convertors with their platinum catalysts will be history, dropping value further. If you buy platinum now, then go to a buyer, he will offer around 70% of what you paid- if that.
OP
Somebody mentioned taxes being paid on silver when I buy it. I don’t know if that’s a state law or federal of it. We don’t pay taxes on straight silver or gold purchases.
It's state. Every state is different.
Star43
Hunter
Yes, it depends if you live in a free state, or if you live in a place like CA....
DGW1949
Hawkeye
Well guys, as of the time of this post, Silver has hit $71.98 .
Interesting times.....I guess my question is; Are we seeing a repeat of the usual (PM) boom/bust cycles, or are we witnessing the final failure of our fiat-dollar?....Myself, I couldn't say. But one things for sure; I won't be trading mine for mere air-bucks until I figure out more about where all this is headed.
DGW
Interesting times.....I guess my question is; Are we seeing a repeat of the usual (PM) boom/bust cycles, or are we witnessing the final failure of our fiat-dollar?....Myself, I couldn't say. But one things for sure; I won't be trading mine for mere air-bucks until I figure out more about where all this is headed.
DGW
Star43
Hunter
For me, I am still enjoying the ride, but to be very honest, it's getting to be maybe a little bit scary right now. This has not happened before... uncharted waters. But I am still not going to sell....to sell for what ?? Greenbacks that could be worthless ?? Then where are you at ??
DGW1949
Hawkeye
About as nice of "an old wore-out ragged" rifle as I've seen..LOL....Looks to me like you did just fine.
DGW
Star43
Hunter
Well it is true that if you sell now with something in mind to buy right now, then that is a win-win situation for sure !! Looks like you got yourself a very nice Christmas Gift !! Merry Christmas !!
KIR
Sparks, NV
- Joined
- Mar 2, 2022
- Messages
- 2,771
I seriously doubt the numbers imprinted on the bars are correct as Mexican silver is generally made with 10 kt. instead of 14 kt. out of 24 kt (pure).
Guess someone ought to bring this back up with current price for those of us still holding.
January 14th at 2:15 pacific time spot is sitting at $93.56.
January 14th at 2:15 pacific time spot is sitting at $93.56.
Armybrat
Hunter
DGW1949
Hawkeye
Using your numbers and an inflation calculator;
$3,300 in 2002 equals roughly $5,900 in today's "dollars", so you are way ahead on that part. As far as accumulating more silver though, you are behind the curve by about $18K. In other words, if you sold what you bought in 2002, the actual profit you would realize would not buy it back at today's $80-$90 per ounce pricing.
So, your answer is "it depends on how you look at it".
DGW
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It;s state. That being said, when a state decides to stop collecting tax on metals, they will soon make metals legal for currency. 12 or more so far and more in the works.. Caused by lack of faith in the dollar.
1gunsnotenough
Hunter
just an interesting side mark. I went to a local town community yard sale a few months ago and found some presidential metals one made for every president from Washington to Nixon. Each were in a plastic sleeve with a pic of the president in the sleeve. I asked the guy selling them what he new about them and he stated he knew nothing about them, The whole set was in a wooden presentation box. Got them for $25 total. got home took one out of the sleeve and it was marked sterling. I had thought they were pewter. Long story short I got 42.5 oz of sterling for $25.00.
GasGuzzler
Hawkeye
Is that a 1530% gain?
