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  • perfor8

    God, guns, and guts
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    Dec 30, 2018
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    Face is the value of the coins relative to the value of the silver. If silver is $4/oz, face will be that or less... a $1000 face bag would cost ~$4000 and weigh about 54 pounds.

    U.S. coin silver was about 90%.
    I'm sorry, but this is incorrect.

    Face value is simply the value of the coinage as represented by the coin, e.g. a dime is worth 10 U.S. cents.

    When newly minted, $1000 face value of silver coinage contained 723 ounces of silver. (Therefore $1 face value - 4 quarters - contained .723 ounces of silver). Due to wear, a "bag" containing $1000 face value of junk silver coinage (e.g. 10,000 dimes, or 4,000 quarters) is today considered to contain 715 ounces (Troy) of silver. This arbitrary standard is used by convention to make transactions easier - all bags (meaning $1000 face value) of junk silver are assumed to contain 715 ounces of silver.

    If silver is $4/oz., then a $1000 face bag (containing 715 oz. of silver by convention, 723 oz. of silver when minted) is worth $2860 (melt value).
     

    TheDan

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    gll

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    $21.44 this morning...
    Normally I just buy a few 1oz rounds, but I ordered my first kilo bar. If it hits $18 I'll by a 100oz bar :cowboy:
    I assume you presume there will continue to be an economy where you can convert a 100oz bar into some more fractional currency when you require some commodity?

    I understand the advantage of reduced premium in larger bars and coins, but my most recent foray into gold, several years ago, was for fractional 1/10 oz coins for trade in hard times.

    We seem to be on different tracks..., just curious as to your thinking.
     

    gll

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    Just like guns, and stocks, I have problems selling, lol....
    I had 10k shares of a $.32 stock (TMRC) go to $4.69 last fall... I sold only 2k shares at the top (when I should have sold them all), then bought back 100 at $2.95 when it seemed to have bottomed... Since then, I've watched it drop to a flat ~$1.45. The average price for the 9k shares I'm still holding is $.63..., so I'm still holding positive and I still took out twice my investment.

    With ~$1986 of that, I bought 200 shares of VACQ, just before it's merger with Rocket Lab to become RKLB, then sold 100 for $1995 while it then rose to $21.34... It's currently at ~$15, but the 100 shares I hold were no cost to me.

    As you can see, I am a small time investor...
     

    TheDan

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    I assume you presume there will continue to be an economy where you can convert a 100oz bar into some more fractional currency when you require some commodity?
    Barring Yellowstone blowing up, yes. Even in a barter situation, you don't plan on making any large purchases? I could think of several things a 100oz bar would trade for. A couple oz of gold would be easier to carry, tho.

    Most likely scenario if I need liquidity is to use my stack as collateral on a loan in whatever currency is in vogue at the moment.

    Plus a 100oz bar would be able to defrost a steak nice and quick :laughing:

    I have a decent amount of old US coins for trips to the farmers market and such...
     

    TheDan

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    Good morning!
    1636554975978.png
     

    Ozzman

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    Silver has gone up to $0.90 in less than an hour. Did you see what Gold did this morning?

    This proves that the current administration is wrong when they say inflation is a good thing. The latest reports show that inflation has risen up 6.4% from the past year. When one ounce of silver is worth $25, that says a lot.

    I guess that means we should all expect a 9% raise this year from our companies if we want to account for the cost of living increases... lol. It appears we all are taking a pay cut this year and moving forward.
     

    Grumps21

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    The online metals places are out of a lot of gold and silver. What’s left has increased in price over what it was last week
     
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