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XonixRogotta
No, don't get me wrong I always plan on owning precious metals and like you see it as an insurance policy. I like the idea that when things get worse i'm protected because not only will my wealth in precious metal stay sound and secure but will never go to zero in any situation unlike fiat currency. I also over the years hoarded a lot of copper pennies as well which I plan to keep forever since they hedge against inflation unlike paper.
geckster109
So you are more of a speculator in metals while im more of a stacker. I view my gold/silver as an insurance policy. I wont sell any of it unless we have a major fiat meltdown in which case i'll need it to feed my family. And if that doesnt happen, then i'll just use it to supplement my retirement.
XonixRogotta
When I say i would be ecstatic if gold soared to $10,000, i mean if it were only a temporary thing. As in to profit from the price fluctuations by selling it at that price with the assumption that it would fall back down. In which case i would buy it all back but at a cheaper price. Like when Rhodium reached a high of $10,000 an ounce and then plummeted down to $1000. It would have been great to sell one ounce of it at its high and then in the end buy back 10 ounces.
geckster109
Im 34 and I currently own 30.6 oz of gold and 435 oz of silver. I NEVER understood why people your age (our age) say they would be "eccstatic" if gold would soar to $10,000. Why would you want that to happen when im assuming you enjoy purchasing gold currently at $1200? If you were 65 years old and had 500 oz of gold stockpiled, I can see why you want gold to soar. But for people like us, we arent even close to being done with buying PM's. I root for when gold falls $50-$60 in a day!
XonixRogotta
The most interesting American history banknotes in my opinion are from Alaska when it was under Russian administration (pre-1867). Those were actually made of seal skin. All Alaskan banknotes are extremely rare and worth between $5000-$25,000 each. Thanks for the comment.
tesskansas
Great topic.... My paper collection was stolen in the early 1980's. I had a few handfuls of silver certificates of varing quality.... I still feel bad about that loss. I won't even comment on the silver Kennedys, and wheat pennies. They were stolen also.
XonixRogotta
As the fiat value of the Canadian dollar goes down, the metal value of the pennies and nickels will go up since they are both made of commodities. So even if the Canadian dollar ever collapsed, all paper notes would be worthless but the coins would not.
XonixRogotta
I did another video about junk copper and junk nickel coins. One problem with junk silver coins is you can no longer get them for face value. However you can still get junk copper and junk nickel coins in your change and also by going to the bank and asking for multiple rolls. I see you're in Canada, I would recommend saving all the pre-1997 pennies (98% copper) and pre-1982 nickels (pure nickel) you come across since this is an easy and inexpensive way to hedge against inflation.
tinslatee
what other investment is safe other than gold and silver? with whats going on stocks and bonds are not a good place to park your money other than gold and silver mining shares.
XonixRogotta
I just have the gulf rupee banknote, that's it. |