Silver supply side trouble brewing....

[Cu Penny Hoarder]

If there is a 10x price rise I believe the main thing we will see is a reset in quantity. Suddenly dimes and 1 and 5 gram bars and 40% halves will be the common man's everyday trading item.

I hope I'm not here to see this.
Do you guys really believe this? Do you think you will be able to survive if this type of scenario develops.
When were little chips of metal the common man's trading item? It was so long ago, life was pretty $hitty.
This Scenario will not happen, and if it does, very few will have the skills to survive it. Even we, the geniuses of RC.
Even the biggest money crises (barring the rocket scientists who run Africa) were solved by a new banking system, new currency, or war.
Storing these pennies was the goddamn dumbest thing I've ever done. They are useless and will remain useless. like every other obsolete coin in human history.

Copper is becoming less important every day.

I still will save with silver and gold. But I intended to die like everyone else in a economic breakdown of this magnitude. I'll be an old man soon and my guns and metal will not save me.

Good post. I think most people here are PM myopic and don't like to think about a Mad Max scenario. Like you I simply save in Au and Ag and hope for the best. I imagine that the majority of us here are hoping the financial system gets rocked so PM prices go to the moon, but can hold together and the apocalyptic economic collapse does not happen. If Ag ever did reach $500oz, that would probably be a very dangerous world to live in. Like you say, most people are not going to survive, no matter how prepped they are.

Although I don't do it anymore, I don't regret the time I spent mining Cu and searching through a few million pennies to find a few gems. It was fun and I had nothing better to do at the time.

[neilgin1]

this is a good thread, its late at night, and my voice is tired, so I want to get back to this.

just wanna start with a couple thoughts, I thank God I nearly bought it in 08, outta nowhere went strep septic, 105 fever, laying on gurney in the ER in a filthy city, some very nice dilaudid flowing thru my veins, I was in some pain boy, and all of sudden this 3 doctors, grim faced showed up by my gurney, and before they could say a word, I told them, "i'm a good patient, a good guy, BUT, if you tell me anything BUT the truth, no matter how "bad", I will turn into a BAD patient"....then they told me, "right now you're 50/50" (and I think they were being generous)

but at that moment, something supernatural happened, in a second, God the Holy Spirit FLOODED my soul and I was full of joy!...it was like what Paul wrote about in Philippians....I talked to God, and said , "Father, if you want to come home, i'm yours, if you want me to stay here...i'm Yours!...I was full of pure JOY, because what God in His Love did was to free me from the bondage of the FEAR of death, in that instant. I have not been the same since. I realized I am but a vapor, a blade of grass, I am weak, but I am powerful.

someone wrote, "most of us are PM-myopic"....due respect, PM's (BM coinage) are but ONE aspect of my thing.....first was to get out of the city, and to deep rural....northwoods, and i'm not a lone wolf, lone wolves die.....i'm a friendly guy, honorable, and as time went by, I met more honorable men, and described what I saw coming.....so we have a crew, and the skill sets in this crew are unbelievable.

good men. privileged to call them friends, brothers...and thankful that God gave me "command presence", where men can tell leadership......and everything isn't serious, He gave me the gift of making people laugh....laughter saves lifes, and we do it for the sons, for the grandchildren , the women, the clan.

i'm gonna pin two clips, one is speaking of war, because in many ways the coming storm will be a sort of war, and in war, there is a time for mercy and compassion, and there is a time for cold and ruthless action. Your mind and soul have to be right and clean.

you see all these "prepper" sites, with all those "toy's' to buy, and it can be the simplest microbe that kills ya, so its just another business or religion...they even have that dopey show, "Doomsday Preppers"...that's all they think about, its their religion, poor fear soaked souls...today, imho, the best 'prepper" show is "The Walking Dead", because its THE MIND and the WILL that is the most powerful weapon an individual has.

I long to hear what you all think.......here's the clips, I remain your bud, neil

[natsb88]

If there is a 10x price rise I believe the main thing we will see is a reset in quantity. Suddenly dimes and 1 and 5 gram bars and 40% halves will be the common man's everyday trading item.

I totally agree about pre-'65 dimes being the main trading/bartering item (and possibly war nickels), but I can't see Ag gram bars being used... the public is too ignorant and ill-informed.

I agree that the public is ill-informed, but I think you have the first part backwards. Pick a random person under the age of 30. Not somebody who collects coins or is a member of a precious metals forum. Just a random person off the street. Tell them the price of silver, then show them a clearly marked gram bar and a Mercury dime and ask them what they are worth. If they are capable of basic math, they can figure out the gram bar. If they don't know the alloy of a silver dime (chances are they don't) and they don't know the weight of a silver dime (chances are they don't), they won't be able to figure out what the dime is worth. A war nickel? Hah. Forget it.

Stackers take junk silver for granted, but the general population, particularly younger folks, are not at all familiar with 90% coinage (or old gold for that matter). I have a couple customers in their 40s who stack silver ounces and fractional gold, but are clueless when it comes to junk silver. I could poll a dozen of my friends from school who are in their mid to late 20s now (a pretty bright crowd, a couple of which have even stashed some silver), and I'd bet no more than one of them could tell you the last year a silver dime was made and what percentage is silver, and I doubt they'd know the current value.

If you are anticipating a barter scenario, don't get stuck in the stacker/numismatist bubble and assume that anyone outside of this small percentage of society will have a clue what a Mercury dime is worth. I think bullion that is marked with weight and purity has the advantage.

[pennypicker]

If there is a 10x price rise I believe the main thing we will see is a reset in quantity. Suddenly dimes and 1 and 5 gram bars and 40% halves will be the common man's everyday trading item.

I totally agree about pre-'65 dimes being the main trading/bartering item (and possibly war nickels), but I can't see Ag gram bars being used... the public is too ignorant and ill-informed.

I agree that the public is ill-informed, but I think you have the first part backwards. Pick a random person under the age of 30. Not somebody who collects coins or is a member of a precious metals forum. Just a random person off the street. Tell them the price of silver, then show them a clearly marked gram bar and a Mercury dime and ask them what they are worth. If they are capable of basic math, they can figure out the gram bar. If they don't know the alloy of a silver dime (chances are they don't) and they don't know the weight of a silver dime (chances are they don't), they won't be able to figure out what the dime is worth. A war nickel? Hah. Forget it.

Stackers take junk silver for granted, but the general population, particularly younger folks, are not at all familiar with 90% coinage (or old gold for that matter). I have a couple customers in their 40s who stack silver ounces and fractional gold, but are clueless when it comes to junk silver. I could poll a dozen of my friends from school who are in their mid to late 20s now (a pretty bright crowd, a couple of which have even stashed some silver), and I'd bet no more than one of them could tell you the last year a silver dime was made and what percentage is silver, and I doubt they'd know the current value.

If you are anticipating a barter scenario, don't get stuck in the stacker/numismatist bubble and assume that anyone outside of this small percentage of society will have a clue what a Mercury dime is worth. I think bullion that is marked with weight and purity has the advantage.

Excellent post. But on the other hand if you hand an ill-informed person an average circulated mercury dime they will see it has wear and been used for many years. Plus it says United States of America on it--all clues that it is a real piece of silver. But you hand that same person a 1 oz generic silver round and they have no idea who made it or if it is real. I guess we'll just have to rely on the public getting quickly educated.

[beauanderos]

Not all that hard to have a little bit of each. But gram silver comes with hefty premiums, so try to pick it up at a discount on
secondary markets.

[Cu Penny Hoarder]

Excellent post. But on the other hand if you hand an ill-informed person an average circulated mercury dime they will see it has wear and been used for many years. Plus it says United States of America on it--all clues that it is a real piece of silver. But you hand that same person a 1 oz generic silver round and they have no idea who made it or if it is real. I guess we'll just have to rely on the public getting quickly educated.

It's the under 40 crowd that concerns me. As aloof as generation nothing seems to be, I believe they will learn about the value of pre-'65 Ag coins fairly quickly.

[hobo finds]

When there phones wont work they will be looking down at nothing....

[Chief]

When there phones wont work they will be looking down at nothing....

Oh yeah
How did people function without smart phones? 99% of kids I work with cannot breathe without their phones, sickening.