Thread: Gold is Way up Dollar is down Oil on the Rise

You know there are tons of different silver dollar mintings. But I personally don't know of any being mixed with 14k gold. You can purchase silver coins in "bags" which are made up of coins with 90% purity and could consequently be utilized for their face value I guess.

Again it is really the minting and its world understanding that gives a confidence as to purity. Like these maple leafsare .9999 pure silver. BTW I'm not Canadian, they just kick our rear on pure precious metal coins.

In my opinion, I would say that ebay is a good way to get ripped off.

Originally Posted by Rawhide

Just curious-are silver dollars really solid silver or a mix like 14k gold?
Thanks

Thats a good question . I don't see many silver dollars anymore, but I think they too have been molested and the center filled with copper or brass .

I ask one of the guys at Swiss America to sell me about $1000 worth of silver dimes and he got all upset and said , " he wasn't going to go back there and count out or drag out a bag of dimes " . I didn't know anything about buying the stuff . I couldn't afford a bag of gold, so I thought I'd order a bag of silver dimes .

Originally Posted by Chosen

You know there are tons of different silver dollar mintings. But I personally don't know of any being mixed with 14k gold. You can purchase silver coins in "bags" which are made up of coins with 90% purity and could consequently be utilized for their face value I guess.

Again it is really the minting and its world understanding that gives a confidence as to purity. Like these maple leafsare .9999 pure silver. BTW I'm not Canadian, they just kick our rear on pure precious metal coins.

In my opinion, I would say that ebay is a good way to get ripped off.

What about local coin dealers ? I don't have a $1000 to spend, but maybe a little at a time of silver coins like dimes, quarters , no gold

Originally Posted by Chosen

You know there are tons of different silver dollar mintings. But I personally don't know of any being mixed with 14k gold. You can purchase silver coins in "bags" which are made up of coins with 90% purity and could consequently be utilized for their face value I guess.

Again it is really the minting and its world understanding that gives a confidence as to purity. Like these maple leafsare .9999 pure silver. BTW I'm not Canadian, they just kick our rear on pure precious metal coins.

In my opinion, I would say that ebay is a good way to get ripped off.

Sorry ,I didn't make myself clear-I meant is the silver in American silver dollars all silver or do they mix it with other metals?

Actually as far as I understand it there are both available. Pure silver minted and face valued copper mixed, silver plated or something of that nature.


There is an element of benefit to the multinational corps here with the falling of the dollar...But not to the US consumer.
http://seattlepi.nwsource.com/business/ ... lar21.html

Originally Posted by Chosen

Jbird during a crisis you would do best not to disclose your posession of gold to government authorities. One way around this is gold and silver coins.

You can purchase gold coins in 1oz all the way down to 1/20th of an oz. The most credible and valuable are the Canadian Maple Leaf gold coins. They are .999 pure! Next up is the American Eagle coins and then the Krugerand. The difference here is that although the Krugerand is not as pure it is a well known and trusted standrad. In fact, its success caused the minting of gold coins here. In a tragic time Krugerand will bring legitimacy. Try to avoid purchasing overly ornate or special interest coins. While they are the same weight in gold, in a crisis situation you may run the risk of the buyer or exchangers ignorance getting in the way of an equal exchange. The maple leaf coins are a good bet.

One thing to consider is this...If you purchase gold by the ounce in the form of bullion/bar you would pay (today's rate) $735 ish an oz. Now if buying by the ounce isn't possible or cost prohibitive, then you can purchase coins. The problem would be that you will end up paying much more for an ounce of gold buying them piece by piece as the coins are most affordable in the smallers oz fractions. But it is still a good way to go. Try and buy them at a local business. if you purchase gold online you will pay service charges and shipping and handling fees. This is the downside of smaller purchases.

Since we are talking about protective currency it might be good to mention why gold is valuable. Basically it is both a liquid and tangible asset. Liquid just means its easily traded, everyone knowsn its value and there is a market for it. Tangible means brick and mortar. In contrast a stock would be liquid and not tangible. It has been established as a tradable currency thru human history.

Silver coins are also a good pad to have. While silver doesn't have the value of gold, likely you can use it for its ability to be much more easily divided and broken into smaller denominations. You can pad your protective currency with some silver coin or bars, but coins are much more practical. Silver was today at $13 an ounce.

I'm a fan of the gold standard myself. When the dollar starts to tank-and it will here soon-the feds will simply resort to printing more money and we will enter inflation. Thats what I hate about fiat economies.

Do you actually "keep" the gold on you, or do you have it someplace else.

This is ALL new to me, so please speak in laymans terms. If something did happen, what would you do? Cut some gold of you stash and hand it to the grocery store and buy food?

what I am asking is what value would it have for the time being.. are you saying that as paper money is worthless, your gold would stay the same.. so perhaps in 10 years.. that gold would still be worth something, but my 10K would buy me a loaf of bread?

I am not following along. I tend to just be a "money" type of person in that I have stocks, CD's, 401K - but no gold or silver... and I am ignorant of it. Please advise further.

Also, where can I get info on these detention centers. I have heard of them in passing, but haven't done any research. I'd like to now.

bttt

Canadian Dollar at Parity With Greenback

Jackie Farwell
AP
Friday September 21, 2007

For the first time since Gerald Ford was president, the loonie can buy as much as the greenback. The U.S. dollar's recent decline against the Canadian dollar, the euro, and even the Indian rupee, means Americans will pay more for imports and trips to Paris, Rome, Bangalore and Toronto. It also may drive overseas demand for U.S. goods and help raise profits at U.S. multinational corporations.

The U.S. dollar reached 1-to-1 parity against the Canadian dollar Thursday for the first time since November 1976. That means one Canadian dollar now buys one U.S. dollar, so a bottle of maple syrup could cost an American as much in Toronto as it does in New York.

Today's numbers, however, do not mean that the dollar is facing a meltdown.

Thursday's drop is of greater concern to currency markets than U.S. households, except "if you're a connoisseur of French wines or Canadian maple syrup," said David Gilmore, a partner at Foreign Exchange Analytics in Essex, Conn.

(Article continues below)

A lower dollar makes U.S. exports more competitive, which is good news for American manufacturers but spells rising prices for imports to the U.S. The dollar's decline also diminished the spending power of American tourists while attracting to the U.S. foreign visitors who seek cheaper accommodations and shopping.

Daina Jefferies exited Macy's at the Walden Galleria Mall in the Buffalo suburb of Cheektowaga, about 10 miles from the Canadian border, and added a couple of bags to a collection already in the back of her car.

"I just bought the same things I bought last week in Toronto for half the price," she said. "I'm going to go home and return them. I knew I was coming so I thought I wouldn't take the tags off. Now there's no way I'm keeping it because it's twice as expensive."

Krys Esteves of Caledon, near Toronto, headed into the mall with her mother, Maria Swica of Mississauga, Ontario, planning to take advantage of weaker American dollar.

"My son wants a soft-serve ice cream maker for Christmas so I'm looking for that," Esteves said. "It's just to compare. Right now, I know it's definitely to our advantage."

The Canadian dollar hovered near parity in late New York trading Thursday, buying 99.93 U.S. cents.

Known as the loonie because of the bird pictured on the one-dollar coin, Canada's currency rose sharply against the U.S. dollar after the Federal Reserve on Tuesday announced a dramatic half-point cut in its benchmark interest rates. While aimed at shoring up U.S. credit markets, the cut further weakened the dollar against other currencies by reducing returns on dollar-denominated investments.

Even before the rate cut, the Canadian dollar experienced a summer of record highs. Canada, a major oil exporter, has benefited from soaring crude prices and a strong economy.

Oil prices surged into record territory Thursday as the weakening U.S. dollar fueled buying by making futures cheaper for foreign investors.

"The Canadian economy that once used to be the sleepy little resource backwater of the North American economy is certainly turning the tables on its big brother in a hurry," said Jeff Rubin, chief economist and strategist at CIBC World Markets.

The United States, meanwhile, has suffered a collapse of much of its housing market and a worsening credit crunch, prompting the Fed's dramatic action this week. The central bank is far less concerned about the value of the nation's currency, however, said Michael Woolfolk, senior currency strategist at the Bank of New York.

"There's a conspicuous silence coming from the Fed with respect to the value of the dollar," he said.

A lower currency typically fosters worries about inflation, but the U.S. dollar's decline over the last year has been too gradual for the Fed to consider intervening by raising interest rates, Woolfolk said.

The U.S. currency also plummeted to a new low Thursday against the 13-nation euro, which traded above $1.40 for the first time since it was introduced in 1999. The euro rose as high as $1.4098 Thursday before falling back to $1.4076, up from $1.3964 late Wednesday.

The $1.40 level has long been viewed as a key benchmark in terms of driving the euro toward becoming a reserve currency of choice -- a position long held by the now-weakening dollar.

The dollar was down across the board Thursday, dropping to a nine-year low against the Indian rupee amid strong demand from foreign funds investing in India's booming economy. The rupee rose to 39.92 per dollar in intraday trading, breaching the 40 rupees-per-dollar mark for the first time since May 1998.

The dollar also dipped against the British pound, falling to $2.0099 from $2.0025 late Wednesday, after U.K. retail sales in August rose by 0.6 percent from July. The U.S. currency fell against the Japanese yen to 114.44 from 116.09 late Wednesday.

The falling dollar could be good news for multinational corporations because it makes American-made goods more affordable in international markets while making it harder for foreign manufacturers to undercut domestic competition.

On the other hand, it worries the U.S. government by scaring away foreign investors who help to finance the country's debt. As investment in U.S. Treasury securities dwindles, the government will have to pay higher rates at weekly auctions to find buyers for its bills, notes and bonds.

That eventually could push up borrowing costs for all Americans.

http://www.prisonplanet.com/articles/se ... enback.htm

Rawhide,

Originally Posted by Rawhide

Sorry ,I didn't make myself clear-I meant is the silver in American silver dollars all silver or do they mix it with other metals?

I used my Google Foo and found this:

Pre-1965 U.S. 90% silver coins,

So it is an alloy like gold coins.

They have more information:

http://www.certifiedmint.com/silver.htm

Thanks StokeyBob!




Rawhide!