What's with silver prices?

It's good to have some Gold and Silver. The prices have increased in recent months as investors are increasingly skeptical about the dumb moves being made in Washington. Silver reached near $180 an ounce in 1980, and if the politicians don't get their act together soon, we may see a similar rise in Silver and the dollar becoming nearly worthless.
 
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In 79-80 the Hunt family was flying high in the silver market and a friend of mine bought a new car with $1,200 face value of silver quarters.

I’ve never purchased precious metals but I do occasionally think of selling a 10k class ring and a few silver half dollars that float to the surface of the junk drawer every now and then.

If the dollar collapses and precious metals soar in value I’m not sure how practical it will be to buy a loaf of bread or gallon of gas with a one ounce bar or coin.

I read years ago that some Indians keep their wealth in gold chains. The idea being that they could snip off a few links to trade for minor purchases during tough times.

I’m close enough to the cemetery that I’ll just stick with what I know and take my chances.
 

I casually follow a local dealer and a couple small shops out of state but that's about it. $1500 in silver today might get you a hamburger soon, but you aren't going to finance long-term care on that.

Silver dimes might make sense if you really expect a need to barter for food and gasoline. But if things get that rough I doubt you'll be buying enough stuff to make larger coins practical. You might be lucky to buy 8 ounces of beef jerky or half a gallon of gas at one time as supplies become constrained very quickly.
 
My stepfather gave me a gold coin and some silver coins a number of years back. I had no interest in them. Took them to a place in town that buys who had good online reviews. I was very pleased with amount I got. Also a ring that had been given to me from someone no longer in my life. It had a heavy gold band so that added in too.

I found another gold coin I guess my stepfather gave me, I'll take in and a couple of pieces of gold jewelry that was my mother's I'll take to an estate jeweler in town. I've already called them and they stated to bring in. I need to do that and just get the money if they are something they want. That one ring, I'm sure they will.

If they don't want the rest, I'll probably give to PAWS. I see this, probably reseller, at PAWS and another thrift store downtown who targets the jewelry. I call her the jewelry shark.
 
Silver is being used more and more for electronics and electrical contact points for the myriad features in newer automobiles, and there's an increased demand for it in pharmaceuticals and medical products (unlike most metals, silver is non-toxic).

Maybe that's why it's up in value right now. One of the reasons, anyway.
 
I have five silver dollars, one to give to each grandchild (don't worry, that's not all they were to get). I wonder if they are worth more than $1.
Aunt Bea said:
In 79-80 the Hunt family was flying high in the silver market and a friend of mine bought a new car with $1,200 face value of silver quarters.

I’ve never purchased precious metals but I do occasionally think of selling a 10k class ring and a few silver half dollars that float to the surface of the junk drawer every now and then.

If the dollar collapses and precious metals soar in value I’m not sure how practical it will be to buy a loaf of bread or gallon of gas with a one ounce bar or coin.

I read years ago that some Indians keep their wealth in gold chains. The idea being that they could snip off a few links to trade for minor purchases during tough times.

I’m close enough to the cemetery that I’ll just stick with what I know and take my chances.
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I feel like you do about precious metals. Not only is having a gold bar or more impractical if the dollar collapses, what if it doesn't and you just want to sell. How does one find an honest broker for the gold? Also, how practical in an emergency is it to carry those gold bars if one has to go to a shelter or even a relative's house? I've seen several trends to buy gold (Y2K scare) at various times but always decided against it. Like you, I'll stick with what I know.
 
OneEyedDiva said:
I have five silver dollars, one to give to each grandchild (don't worry, that's not all they were to get). I wonder if they are worth more than $1.

I feel like you do about precious metals. Not only is having a gold bar or more impractical if the dollar collapses, what if it doesn't and you just want to sell. How does one find an honest broker for the gold? Also, how practical in an emergency is it to carry those gold bars if one has to go to a shelter or even a relative's house? I've seen several trends to buy gold (Y2K scare) at various times but always decided against it. Like you, I'll stick with what I know.
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This will give you an idea of the scrap value but the value as collectible coins might be higher.

CoinCompositionMelt Value Updated 10/25/2024
Morgan Dollar (1878-1921)90% Silver$26.02
Peace Dollar (1921-1935)90% Silver$26.02
Eisenhower, Silver (1971-1976)60% Copper, 40% Silver$10.63
American Silver Eagle $1 (1986-Date)99.93% Silver$33.64
 
Aunt Bea said:
This will give you an idea of the scrap value but the value as collectible coins might be higher.

CoinCompositionMelt Value Updated 10/25/2024
Morgan Dollar (1878-1921)90% Silver$26.02
Peace Dollar (1921-1935)90% Silver$26.02
Eisenhower, Silver (1971-1976)60% Copper, 40% Silver$10.63
American Silver Eagle $1 (1986-Date)99.93% Silver$
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Thank you Aunt Bea. I'll dig mine out at some point and see if they are from the above dates.
 

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