| T O P I C R E V I E W |
| CopperBar |
Posted - 05/20/2008 : 13:26:08
Are we base metal hoarders the start of a new hard money subculture? Or are we mostly just hoarding for fun and profit?
A few years ago not too many hard money advocates even considered base metals such as copper or nickel as money. Now I see signs of it on many hard money forums. Is this the start of a new way of thinking about hard money? |
| 18 L A T E S T R E P L I E S (Newest First) |
| ironpoptart |
Posted - 09/23/2008 : 09:44:12
China already has copper bullion, though unfortunately the only times you'll see it on eBay are in proof sets with unbelievable premiums. |
| deleted by request |
Posted - 09/19/2008 : 19:59:05
I just hope the Mints in major countries start releasing copper, zinc, and nickel bullion SOON. |
| Ardent Listener |
Posted - 05/29/2008 : 13:38:11
quote:
Originally posted by JerrySpringer
What do you folks think? Maybe start buying up bricks of nickels and setting them on the side and continue to sort the pennies? I agree with Ponce. You feel like you have something with the coins. Maybe that is the message that banks are afraid is getting out in this low interest rate environment. Yeah, we are hard money advocates when we do what we do. I found some new empowerment walking into a bank now. I know they must know or will know shortly that people will want something tangible if they see gold and silver rise this summer. We are not the only ones that realize that the copper and nickel has some value over the paper any way you cut it. Can banks actually tell patrons they can only have paper? I think they may be showing their hand if coin shortages happen all of a sudden.
Even if the value of copper and nickel falls for a while when you are hoarding physical hard money you have the security of knowing that your money has intristic value that paper dollars don't. And if anyone thinks that the price of such metals are going to tank and stay there then you might want to consider that even the U.S. Mint doesn't think so. Since we started this site I have seen the price of copper rise and fall and then fall and rise over and over again.
When the coin shortages occure the banks will cut us and eveyone else other than depositing business such a WalMart off. I have seen it happen in the past. People will be told it is their patriotic duty to bring in their coins. Maybe the banks and stores will even offer a small reward to those who do.
If a guy like Ponce thinks hoarding nickels is worth doing then take heed. Ponce has more physial silver hoarded than you would ever dream of. |
| Ponce |
Posted - 05/29/2008 : 13:12:44
You must remember that in Germany (1929-1933) this old lady did just fine with her bathtub full of coins while everyone else was going hungry and the reason for that was that while a lot more paper fiat was being printed no one was making more coins so that the same retained their original value.....and the same for the old paper fiat.
While coins have many uses paper fiat has only three.....insulate the house, for the wood burner and for toilet paper. |
| JerrySpringer |
Posted - 05/27/2008 : 16:03:38
What do you folks think? Maybe start buying up bricks of nickels and setting them on the side and continue to sort the pennies? I agree with Ponce. You feel like you have something with the coins. Maybe that is the message that banks are afraid is getting out in this low interest rate environment. Yeah, we are hard money advocates when we do what we do. I found some new empowerment walking into a bank now. I know they must know or will know shortly that people will want something tangible if they see gold and silver rise this summer. We are not the only ones that realize that the copper and nickel has some value over the paper any way you cut it. Can banks actually tell patrons they can only have paper? I think they may be showing their hand if coin shortages happen all of a sudden. |
| fiatboy |
Posted - 05/27/2008 : 02:19:04
quote:
No, we are not the start, we are the continuation.
Except for a few "fiat aberrations" here and there throughout history, hard money has been the norm. Perhaps we're just slowly getting back to the norm?
Gresham's Law, baby!  |
| Ponce |
Posted - 05/26/2008 : 20:51:35
The way that I explained to people is as follows..... hold a brick of nickels in your right hand and a $100.00 dollar bill in your left one.... which one feels more valuable? |
| Non-wise man |
Posted - 05/26/2008 : 08:30:22
quote:
Originally posted by Saul Mine
No, we are not the start, we are the continuation.
Precisely. There will be many reality checks.
We wise as we age giving us a better understanding we're not wise. |
| Saul Mine |
Posted - 05/25/2008 : 17:17:41
No, we are not the start, we are the continuation. |
| Non-wise man |
Posted - 05/25/2008 : 16:51:51
quote:
Originally posted by moboman
It seems most people I talk to want fiat over hard currency.
That's true. However if majority of world population decides to rid of their U.S dollars, Americans who still want greenbacks will realize the local markets will start showing hyperflation and opinions could change very rapidly.
We wise as we age giving us better understanding were not wise. |
| Steiner |
Posted - 05/25/2008 : 00:33:08
Joe blow wants to blowout his stock of 3 post 21 $1 and some quarter and dimes while the getting is good. We pick this up still at $18 to $20 and enjoy the ride.
Steiner |
| moboman |
Posted - 05/24/2008 : 23:46:18
It seems most people I talk to want fiat over hard currency. |
| Non-wise man |
Posted - 05/24/2008 : 16:24:40
One way of looking at it with this anology:
Too many chiefs - not enough indians
is to
Too many dollars - not enough gold (and other commodities) |
| knibloe |
Posted - 05/24/2008 : 14:54:01
I was one of the no votes because I believe that those of us who want to trade in hard money (or at least PM backed money) are in the minority. There are too many sheep out there that just don't get it. |
| jorhyne |
Posted - 05/20/2008 : 20:07:32
I feel like we are slowly returning to a bartering system, with hard money as one of the featured mediums of exchange. To buy my Ryedale, I sent Andy a $150 check along with silver to cover the rest! Trust me, it feels a lot different (in a good way) to buy and sell stuff when you actually feel like you are gaining or losing something as opposed to just trading paper. |
| WilliamC |
Posted - 05/20/2008 : 19:36:58
quote:
Originally posted by Ardent Listener
I agree the opportunity to hoard will be short but I can also see many of these coins being traded in the future much like 90% silver junk is now. Copper has always been money and now it is gaining respect again.
This is exactly what I'm hoarding for, the day when I can sell my copper as easily as I can sell my junk silver coins now.
Of course I'm not looking to sell my junk silver coins now, in fact I'd buy more if I had the cash to do so.
Alas methinks I'm going to be spending a few thousands of dollars in home repairs over the summer, so aside from pennies I won't be buying any more precious metals :(
|
| Ardent Listener |
Posted - 05/20/2008 : 13:41:36
I agree the opportunity to hoard will be short but I can also see many of these coins being traded in the future much like 90% silver junk is now. Copper has always been money and now it is gaining respect again. |
| Cody8404 |
Posted - 05/20/2008 : 13:37:20
This is just one time when the base metals are worth more than thier face value. WE have a short window before it gets even worse. This will be very short lived. |
