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Monday, December 6, 2010

My First Silver Bar

I try to prove that I practice what I preach when it comes to preparing for the worst. To further illustrate my point, I want to show everyone my first Silver Bar to hedge against the falling dollar. Many Survival and Preppers sites talk about buying gold and silver to hedge their retirement accounts and so that they have physical assets to use in case the Dollars completely looses it face value.


I have chosen to invest in silver bars because I know NOTHING about coins, rounds, proofs, silver content of coins, and everything else which is involved in coinage. I know that silver bars are minted by mints and state the .999 silver content somewhere on the bar. I have also stayed away from the "mills" .999 silver...which is nothing more than a piece of alloy covered in a LAYER of silver.

Anyway, the Silver / Gold ratio is falling which means that silver is getting more expensive. I was going to buy in when it was $4.00, $10.00, and $14.00 an ounce, but never really got my motor in gear to actually do it. Now, I have.



I check the SPOT price of silver everyday, got to EBay (and other sites), do some comparative shopping, and then place my order. The key words I use are "1 Troy Ounce Silver", "Silver Bars", ".999 Silver" and others. Do your own research and begin preparing for the inevitable collapse of the Dollar.


I stay away from these

Anthing that says Mills:

"Beautiful Troy Ounce silver Maple Leaf Art Bar, plated with 100 mills of .999 silver".

You will see many of these on EBay; Maple Leaf, Pot Leaf, Pistols, Bear, Stars...As far as I know all of them are identical and come from a mint in Canada.  I have no idea what the core material is, but more than likely it's copper or brass.


GRAMS:

These bars are TINY.  There are 28.3492 grams to an Ounce.  These things are smaller than your finger nail...be careful and READ CAREFULLY the item descriptions.



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