We are asked or told, constantly it seems: ’Why should I buy gold or silver? I can’t spend it at the grocery store or gas station?’ Of course you can’t, and neither can you spend stocks, bonds, or CDs at the super market or gas station, hardware store, or Walmart. You need dollars. We know that. Why should you buy gold and silver then? BECAUSE YOU NEED TO GET OUT OF DOLLARS, and be able to get back into them when you need them. Why get out of dollars? Because they are a failing measurement. It’s like storing your water in a leaky bucket, and you wouldn’t do that, would you? No? They why store your wealth in un-backed, printed by the trillion, paper scrip, known as dollars? Because they are ’liquid?’ Sure, and water in a leaky bucket is liquid also, until the water is gone. Dollars are ’liquid’ too, till their value is gone!
You need to get your surplus assets out of dollars, and into things which are TANGIBLE. I recently bought all new tangible appliances, because I knew their prices would go up in dollars. I buy gold and silver, because I know their prices will go up in dollars. All things tangible, or physical, will go up in dollars, as the value of dollars goes down. The value goes down constantly, such as oil now at $91 a barrel, when is used to be $2, or Hershey bars at $1.00, when they used to be a nickel, or gasoline at $3 a gallon, when it used to be 20 cents.
Stott’s law: “The more of anything there is, the less they will be worth.” and this includes DOLLARS. Buy tons of steel, barrels of oil, antiques, tons of coal, or hundreds other tangible things, to protect yourself against inflation, but gold and silver are (1) Historic money for thousands of years and in all nations, and (2) are easily convertible into any currency at any time. None of the others are easily converted into dollars, as gold and silver are. (3) Gold and silver are easily stored, beautiful, and valuable everywhere. Not everyone wants a ton of steel, barrel of oil, or antiques. If you did, they’d be difficult to dispose of easily. Where would you store barrels of oil or tons of steel? How would you sell them? Antiques are like numismatic coins. Buy them retail and sell them wholesale, making it difficult to show a profit. If you have bullion gold and silver, (closest to the spot price), you simply sell some and get the dollars to buy what you need or want. It’s very simple and cheap. If you bought the gold and silver from us, we charge nothing if you sell, and you pay the shipping. If you bought it elsewhere, we charge you 1%. How long does it take? If you aren’t in a hurry, a week or so. If you are in a rush, ship it overnight, and pay $25 for a wire to your bank, and it may take less than two days.
Are gold and silver ’liquid?’ We think so. Barter with them? Sure, but between two people, not a super market, Walmart, or hardware store. They have to pay their bills in dollars, and cannot, nor will not accept your gold, silver, stocks, bonds, or CD for payment. You have to convert those things into dollars. With a CD, you will pay a penalty, and stocks or bonds will take longer to convert into dollars than selling gold and silver probably.
About the five ounce silver coins, which so far we are unable to deliver. The Mint seems to be saying that they will be sold on a one coin basis only, but when, we don’t know. When we find out, we’ll post it on the web site. Looks like the correction is over. Will there be another? There always is, but when? No one knows, but a year from now, it will make little difference, since prices will undoubtedly be so high then, compared to today’s $1410 and $30. 74. Those who wait for one, always seem to lose out.
Closed Friday, and by all means have a HAPPY NEW YEAR! (If you celebrate the First with a Fifth, be sure you don’t drive!)