Price of a gallon of gas in 1964 was $0.30, or three silver dimes. Today, those same three silver dimes would get you $7.42, or over two gallons of gas (based off AAA average of $3.42 a gallon).
Price of a gallon of gas in 1964 was $0.30, or three silver dimes. Today, those same three silver dimes would get you $7.42, or over two gallons of gas (based off AAA average of $3.42 a gallon).
Rand Paul 2016
A one ounce gold coin can cost up to $1,900. Us poor folks normally go for silver-Originally Posted by ZzzImAsleep
Start off easy with American Silver Eagles (ASE). http://www.gainesvillecoins.com/cate...irculated.aspx
OR
90% "Junk Silver" Coins- http://www.gainesvillecoins.com/cate...ver-coins.aspx
Dimes, quarters, and half dollars minted in 1964 and before contain 90% silver. Best way to tell is by looking at the side. If you look at your typical quarter or dime you'll notice half of it looks red. That red is copper and there is no silver. 1964 and before coins won't have that, they'll be completely silver.
This site is a great tool to use so you don't have to remember all the dates (after you collect for a few months, it'll come more naturally). It also gives the amount of ounces that each silver coin has. Also, there is a great tool on that site that tells you how many ounces of silver is in each "junk silver" coin, and what it is worth in dollars based off the current price of silver. http://www.coinflation.com/coins/sil...alculator.html
Rand Paul 2016
Go to your local coin shop and get a 1/2 or 1/4th ounce coin.
I saw an ad for an Australian Kangaroo for only about $80 in the Sunday paper.
Not a good deal though- that was for a half GRAM coin which would make it about $4,000 an ounce. 28 grams to the ounce- it is 0.016 troy ounces. (And I see you can get them from the Australian mint for about $56 http://www.coinnews.net/2010/06/10/2...-coin-on-sale/ ) Pretty hefty markup. Not listed for sale currently at their site, but the Perth Mint also produces a 1 kilo gold coin- that would be over two pounds! Cash discount price on it is listed as $57,000 (saving $2,000 US). http://www.providentmetals.com/2013-...erth-mint.html 32 ounces of .9999 (yes, four nines!) pure gold.
Last edited by Zippyjuan; 11-26-2012 at 07:13 PM.
Freedom is a state of mind. Nobody can take that from you unless you let them.
Most people I know are just too hung up in valuation of gold in USD.
Imagine you had a great grandfather who lived in the south and had $1 million. In scenario A he planned to hold that money and pass it down to his heirs. In scenario B he traded the money for gold, also planning to hand it down to his heirs.
Imagine then that you receive that inheritance. In scenario A, the money was confederate dollars, which means you would inherit nothing. In scenario B, the gold was gold and your inheritance would be worth $90 million.
That's a simple case for buying and holding gold vs whatever piece of paper happens to be the current popular 'legal tender'.
During your great grandfather's and grandfather's lives, the gold would have remained a relatively static store of value.
Now, imagine your father sold the gold, then bought it back and repeated that exercise a half dozen times over the past 30 years. That gold stash could easily have grown a half billion worth of the current form of USD, in 1 generation. That's because, like every paper certificate before it, the USD is on its last legs and that's reflected in how many of them it takes to buy your gold, which is on its same legs it had 5,000 years ago.
For those who have eternal faith in the USD and want to use theirs to turn it into more USD for purchases of goods or services... don't buy gold, buy Facebook stock and cross your fingers. For those like your fictional great grandfather, no discussion is necessary.
Depends on when he bought and sold his gold. If he had $1 million in gold in 1980 and sold it then and bought it back in 2001 he would have $300,000 left.
If he had $1 million and sold in in 1850 and bought again in 1919 (70 years later), he still had $1 million (minus his transaction costs). http://www.nma.org/pdf/gold/his_gold_prices.pdf If he waited until 1931 (80 years later) to re-buy, he would have $900,000- losing ten percent in the nominal price. If there was any price inflation in those 80 years, his purchasing power of that once $1 million in gold would be less. But we should remember that until really 1972 there wasn't a free market price of gold- the US Government said how many dollars it would take to buy an ounce of gold.
Last edited by Zippyjuan; 11-28-2012 at 02:37 PM.
Freedom is a state of mind. Nobody can take that from you unless you let them.
End game:
Force a new monetary order.
"Like an army falling, one by one by one" - Linkin Park
Here is what I am confused about based on what some of you are saying. The dollar is going to crash and people will turn to gold, but most people don't have gold, if you don't count jewelry, so how in the world are you supposed to walk into a grocery store during a period of hyper-inflation and hand them a gold coin? There seems to be a disconnect between the idea of "Gold will go up/retain value" and making that work in a day to day environment.
No , you will not use gold @ the grocery , I imagine, I also , doubt there will be much of anything @ the store ,for awhile , just my speculation.
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