Skip to main content

Futureproofing: PM Me



I am in possession of one ounce of 99.9% pure silver. The coin is an American Silver Eagle, purchased to commemorate the birth of my son (technically the coin is his, hence my reluctance to use the word "own" in the opening sentence). It's big. It's beautiful. It makes a clinking sound unlike any US coin since the early '60s.

It also has a face value of one US dollar, but don't be fooled. A silver dollar is worth more than $1.00. Because of the silver content, a silver dollar is worth at least $19.34 as of this writing. Factor in variables like year of production, etc and the value will increase.

You may be asking why. The answer is simple: Silver, and even more so, gold, is money, and has been for 5000 years. The paper in your wallet is currency, issued by a government, reliant on the stability of and peoples' faith in said government. It wasn't always this way. Coins have been free of silver since the mid-1960s, Nixon took the US dollar off the gold standard in 1971. Silver and gold have been money/store of value since the dawn of civilization, and interest is climbing as social and fiscal problems mount (I'm looking at you, $20 trillion national debt). The monetary policy of the last few decades has been an anomaly, one many predict will end with a currency crisis. One common hedge against such a calamity is precious metals.

Prior to Nixon's action, gold had a fixed value of $35/ounce. Today, an ounce of gold will set you back $1329.00. During the darkest days of the most recent financial crisis, gold hit $2000/ounce, leading many of the newly-unemployed to take up prospecting. Increasing digits on a Federal Reserve spreadsheet doesn't inspire such action. Gold does.

In closing, consider precious metals as a low-maintenance store of value with potential to rise. Do your own research, draw your own conclusions, and if it seems feasible, start stacking.
Labels:

Comments

Post a Comment

Popular posts from this blog

The World In Which We Live: Pandemic Edition

What a year 2020 has become. As the federal government (particularly the head of the executive branch) dithered, a microscopic killer grew in strength and swept across the globe. A novel virus; one which humans have not been exposed to and thus have no immunity from. No effective treatment, no vaccine at this time. The possibilities are horrendous. At first it was a China problem, then an Asia problem, before it became a global problem. In my home state of Georgia, it has become a human behavior problem. The state has been partially shut down for a matter less than one month, yet is set to reopen in days. Never mind that our governor claimed he was unaware that the virus could spread via asymptomatic persons, earning himself a place on the Dumbest Governors list. The state is reopening with a mind-boggling list of businesses: hair salons, barber shops, tattoo parlors, massage parlors, bars. These are the last  businesses that should open, yet Kemp, doing his best impression of a son
Post a Comment
Read more

The World In Which We Live: Premature Reopening Edition

I don't even know where to begin. Despite there being no effective treatment, vaccination, or the much-discussed herd immunity, many states are relaxing social restrictions put in place to mitigate the spread of Covid-19. My home state of Georgia was among the first to do so (my sense of timing and location is impeccable). Instead of a state economy charging out of the gates like a racehorse, we get this: An 83% increase of confirmed cases in my county, which is mostly rural with a small industrial base, 90 miles from Atlanta. But freedom, amiright? I find it utterly amazing that people find being instructed to stay in their homes and take extra precautions to prevent becoming infected with a fatal disease a form of tyranny. When did "Wear a mask and wash your hands regularly" become equal to tanks in the streets? I understand wanting a haircut; Hell, I need  one but don't want to kill my barber, a nice guy who fits nicely into the at-risk category. Do
Post a Comment
Read more

April Fool's Day, Distance Edition

Ah, April Fool's Day, the day in which a middle aged man such as myself gets to clown around at the expense of friends, family and colleagues. Not this year. The world is on edge and there is palpable tension in the air. Everyone is feeling anxiety, about the COVID-19 pandemic, the economic crash, shortages, physical distancing and more. Speaking for myself, it doesn't help that the Empire State Building is lit up like an emergency vehicle: This year, I'll go home to my family. Instead of pulling a prank, I'll ask how the day went. My son has piano class (over FaceTime for the foreseeable future) on Wednesdays, so I expect to hear a song or two. Dinner, a little TV, then end the day. 2020, you win. But I'll be back. We'll be back, We always come back.
Post a Comment
Read more