Huh!Oh, OK, I'll mention it...
I'm sure that chart is wrong, I've recenly been looking at bitcoin and this the current rate, so I don't know where you got your data from?
Huh!Oh, OK, I'll mention it...
Oops. My bad, I'll go sit on the naughty step for an hour ;-)Different scale Pooky. They show exactly the same thing, except mine starts Dec 2017, yours starts Jan 2019.
Mine is on a scale from 0 to 20,000, yours is on a scale from 2400 to 3000 (which makes changes look larger than when viewed on the larger scale).
They both end up around 3000.
You really have to be careful about buying gold or silver. Like you said, prices vary a lot. I really like eBay as you can compare prices. Collectible coins, both gold and silver, can have huge premiums. But there are bullion coins out there. Meaning they are really just the value of the metal. I just got a Canadian maple leaf for 17.00 over spot. They have specials all the time, but you have to watch for them. You should also realize that not only is there a premium for buying gold and silver, there is also a premium for selling it. So if you’re doing it for long term then you’re ok, but if you need to sell to cover an emergency, your likely to loose 15 to 20%. I bought some gold coins several years back for 300 an ounce. With today’s price of about 1300 it was a great investment. The reason I’m bringing this up is the chance of gold going up that much again is slim. It’s high now, not at its highest, but high enough to not likely jump like that again. Another thing you pointed out was security. I had all those gold coins stolen. I still believe that gold and silver will always have value, but am pointing out that it’s not 100% safe. I guess nothing is to be honest. I also believe that prepping is all about covering as many bases as you can. So for me at least, I think precious metals have a place in prepping. And even if they aren’t likely to skyrocket and increase your savings, I think they are safe enough to at least hold value and hedge your assets from loss of value.I didn't see anyone else take a crack at the first question, about why an ounce of silver costs different prices depending on the coin/round involved, so as someone that has invested in silver, I'll give it a go.
Your baseline price for silver (or gold, platinum, palladium, or copper for that matter) is the "spot price". That is the current market value of one troy ounce of the metal in question. At the time that I am writing this, the spot price for silver is currently sitting at $15.51 per ounce. That value will change minute to minute, it is not a stable price. Anything that you pay over spot price is referred to as the "premium". Premiums tend to go up for items that are considered collectible. For example, a generic silver round from the Highland Mint, which carries no face value and cannot be spent as currency, will have a premium of roughly $1.50 to $1.80 an ounce. This is mostly to cover the minting costs, shipping costs, distributor profit margins, etc. By comparison, an American Silver Eagle from the US Mint, which has a designated value as currency (although it's only valued at $1.00, which is ridiculous for an ounce of pure silver), is in higher demand, and is widely collected, and so the premium will be higher (anywhere from $2.50 - $3.50 per ounce, depending on where you buy it). Remember, generally speaking, the more collectible something is, the higher the premium generally will be.
Something to really consider though is that in a SHTF scenario, a treasure trove of 100 ounces of silver or more isn't going to feed you or your family. People likely won't be looking to take it as barter, at least not initially. At least that would be my guess. It's just not practical until some sort of government or order is established and a currency is developed. A lot of people won't know how to value it either...if you watch YouTube videos about it, you'll see some people saying that just 10 ounces of silver could buy an acre of land and a house after some sort of collapse, while other people say that it won't be worth much at all for a long time. Nobody really knows. And if you are stacking silver and gold for a SHTF situation, you will need to think about security, and transportation if you ever have to relocate. 100 ounces of silver or gold gets pretty heavy, and it's going to be bulky and difficult to carry, along with your essential gear.
I hope I helped a bit.
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