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Joined: Mar 2015
Posts: 2,166 Likes: 6
Campfire Regular
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Campfire Regular
Joined: Mar 2015
Posts: 2,166 Likes: 6 |
GoldBacks are collectibles invented to be collectibles. Which is fine if you are selling them but creating the hype and keeping the hype are not necessarily driven by design and printing alone. We live in a society that’s government simply will not allow another currency to exist, in fact the government is working towards CBDCs and one day you’ll wish you could own paper fiat.
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Joined: Oct 2010
Posts: 7,889 Likes: 21
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,889 Likes: 21 |
in fact the government is working towards CBDCs and one day you’ll wish you could own paper fiat. As a practical matter Western economies are already CBDC based. The vast majority of currencies like USD and EUR traded in markets will never exist in physical form. They''ll only ever be bits on someone's electronic ledger. Probably a Jew's. People get spooked by cryptocurrencies, but most USD transactions are an order of magnitude less secure and authenticated than the smallest crypto exchange.
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Joined: Jan 2016
Posts: 96,104 Likes: 19
Campfire Oracle
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Campfire Oracle
Joined: Jan 2016
Posts: 96,104 Likes: 19 |
So, they wear out and get to be re melted? Whats the reclamation fee? Feds could searh your grounds with metal detectors and....
Last edited by jaguartx; 01/14/22.
Ecc 10:2 The heart of the wise inclines to the right, but that of a fool to the left.
A Nation which leaves God behind is soon left behind.
"The Lord never asked anyone to be a tax collector, lowyer, or Redskins fan".
I Dindo Nuffin
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Joined: Jul 2015
Posts: 14,806 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jul 2015
Posts: 14,806 Likes: 5 |
When I sell there, they pay me 2% over spot.
If it was deemed by the public to be a convenient form for transactions, whatever the acquisition cost worked out to be would be the trading cost also. That's how it worked when gold coins were in circulation. There's a word for it, but I cannot think of it at the moment, i.e., the cost of transforming gold or silver into the form of a coin. That cost carries over. Seigniorage
Politics is War by Other Means
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Joined: Oct 2010
Posts: 7,889 Likes: 21
Campfire Outfitter
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Campfire Outfitter
Joined: Oct 2010
Posts: 7,889 Likes: 21 |
Feds could searh your grounds with metal detectors and.... Metal detectors will find boomer rocks regardless of which form they are in. That isn't a reason not to keep some around though.
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Joined: Dec 2021
Posts: 3,599 Likes: 11
Campfire Tracker
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Campfire Tracker
Joined: Dec 2021
Posts: 3,599 Likes: 11 |
Yeppers, I'd just as soon buy metals. That gimmicky stuff ain't my cup of tea! No gold or silver "plated" anything for me. Now, I'm no highly eddicated numismatist, but I prefer the feel of metal twixt my grubby fingers. There are actually 3 prices. Buy back. Spot. Dealer. "Buy back" is always cheaper than "spot". "Spot" is cheaper than "dealer". About a year ago, "spot" dropped down to around $13/oz or so. Dealer prices stayed up on the $28 to $30/oz range.
What few times I've considered selling, they won't take less than $1K worth of coins. My old tightwad self, I ain't selling THAT much!
I've found "jmbullion" and "provident metals" to be reliable dealers when making purchases ... so far! LOL!
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Joined: Jun 2002
Posts: 132,072 Likes: 65
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 132,072 Likes: 65 |
When I sell there, they pay me 2% over spot.
If it was deemed by the public to be a convenient form for transactions, whatever the acquisition cost worked out to be would be the trading cost also. That's how it worked when gold coins were in circulation. There's a word for it, but I cannot think of it at the moment, i.e., the cost of transforming gold or silver into the form of a coin. That cost carries over. Seigniorage Yes. Thanks.
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Joined: Mar 2015
Posts: 2,166 Likes: 6
Campfire Regular
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Campfire Regular
Joined: Mar 2015
Posts: 2,166 Likes: 6 |
in fact the government is working towards CBDCs and one day you’ll wish you could own paper fiat. As a practical matter Western economies are already CBDC based. The vast majority of currencies like USD and EUR traded in markets will never exist in physical form. They''ll only ever be bits on someone's electronic ledger. Probably a Jew's. People get spooked by cryptocurrencies, but most USD transactions are an order of magnitude less secure and authenticated than the smallest crypto exchange. Yes money is electronically transacted now, CBDC is an effort to rid paper fiat, which fiat or not that is bad. Crypto has never really become what it was marketed as, has a huge fundamental problem as a “currency”, and the fed will never let it “become a currency”.
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Joined: Jul 2011
Posts: 2,105
Campfire Regular
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Campfire Regular
Joined: Jul 2011
Posts: 2,105 |
Interesting concept. For now, I believe the best method may be pre'64 Mercury dimes, that are currently worth $2 each.
- Rogue
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Joined: Jun 2002
Posts: 132,072 Likes: 65
Campfire Sage
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OP
Campfire Sage
Joined: Jun 2002
Posts: 132,072 Likes: 65 |
Interesting concept. For now, I believe the best method may be pre'64 Mercury dimes, that are currently worth $2 each.
I have a sack full of them. A silver coin about that size was the price of a day's labor for the vast majority of human history.
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