HomeUncategorizedRemember this from History Class?
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ghostsniper
ghostsniper
1 day ago

Maybe I should change my name to Frugal.
Or Frugal-ghost
Or Frugal-sniper….whatever.

Frugality has been my driving force for the past 10-20 years.
Actually, this journey probably started as I was readying up the research to build our new Florida home in 2001. Construction didn’t start until Jan 2002 but I had finished the design, created a materials list, and hired a contractor in the summer of 2001. Also, bought the property in the summer of 2001. Then, during the building permit process the gov’t decided it was going to put on it’s gloves with 10 thumbs, all of them left handed, and the process came to a standstill.

Anyway, that was where my lifelong journey of frugality in all things started, I think. First, let me clarify something. “Cheap” does not mean “inexpensive”. They are 2 diff words with diff meaning even tough most people, it seems, use them interchangeably.

Inexpensive deals with price and cheap deals with quality. While something inexpensive may be cheap, being cheap doesn’t mean it will be inexpensive.

There’s lots of expensive cheap stuff out there.

Moving on, about 5 years ago or so my interest in buying precious metals started working on me and I decided to delve into it a little deeper than I had in past cycles of interest. Keep in mind, as I age I make decisions slower and slower and the higher the cost, slower still. If I was in the market to buy a new truck it would probably take me 10 years to decide to do it. THAT kind of slow.

So, to take some of my hard earned legal tenders and put them into some other form of wealth took a huge amount of faith on my part. Faith and belief. And research.

All things considered I decided to buy some silver. A small quantity. Keep in mind that I used to know all the proper names and terminology but once I made my decision on what and how to buy I quickly lost most of that knowledge. I only focus on that which I am interested.

Mostly because of costs, price of silver, and shipping costs, I chose JM Bullion to purchase the silver from. Their prices are competitive with the other major dealers and if you buy a certain amount (I think $200) the shipping is free.

The next decision was on the type of silver. Bars (bullion), rounds, coins, etc. I’m not a lucky person, I have Murphy on speed dial, karma is my middle name, and the night I was born there was a bad moon rising. If worse came to worse I wanted the ability to USE my silver if I needed to. Immediately. Of the choices before me, coins are the only type that would give me that option. The other choices meant I would have to go through a dealer of some sort and I didn’t want to deal with that. With a silver dollar in hand I can walk into a Dollar store and buy a dollars worth of product if I have to. That would most likely never happen but that option is there. With bars I have to find a dealer, wherever that might be.

Initially, because I’m a frugal ass, I didn’t want to spend much and my research showed that the least expensive coins are what is called “junk coins”. Specifically, American currency minted coins before 1964. And the highest “quality” ones are what is called 90% silver. (10% something else). If I walked into the Dollar store with a silver coin minted in another country, or say, part of a Disney collectible series, and tried to buy something they would chase me out with pitchforks.

So, American minted currency coins of 90% silver is what it will be.
Now what?
Again, frugal. Start small. That means dimes.
In April 2021 I bought (100) Mercury dimes at a cost of $291.60 and there was no charge for shipping. In about 5 days the dimes arrived in the regular mail in a plain manila envelope, with 10 dimes in each of 10 little plastic zip lock bags. I dumped all of them out on my desk and looked them over. I hadn’t seen dimes like this for many years. Decades. They were minted from 1916 to 1945. As a kid, I remember my dad giving me a dime for some chore he asked me to do. Also when a tooth came out – DING! – there it was under my pillow!

What to do with them? I went on amazon and ordered up some plastic white tubes with caps. Don’t remember exactly but I believe 40 dimes will fit in 1 tube. The Mercury’s were obviously used and some had quite a bit of wear to them. I weighed them with a digital scale and they were all right about 3 grams, or .11 ounce.

Over the next 4-5 years I made many more silver junk coin purchases from JM Bullion. 3 diff types of dimes, 3 diff quarters, 4 diff half dollars, and 3 diff dollars. 30 some orders so far and continuing.

Now, for the numbers.
In total, so far, I have purchased 1540 different coins.
(yes, I have kept precise and detailed records with hard copies)
The face value of these coins is $380.00 and I paid $11,468.08 for them.
All together they weigh 364 ounces, or, 22 pounds 12 ounces.
Kinda heavy all at the same time.

Do the math, $380 for $11,468.
THAT is what this criminal gov’t has done to us.
And they are still doing it to us, and more and more so with each passing day.

Prior to 1913 those $380 worth of silver coins cost, you guessed it, $380.
From that year, 1913, the year the Federal Reserve was established, it has been downhill at an exponentially increasing rate. Play around with your calculator and see what that silver will cost 10 years from now, or even just one year. I dare ya!

If you have $380 in regular paper dollars in your pocket right now, tomorrow they will be worth a little bit less and you will recognize this by paying MORE for stuff you buy. They sort of disguise it like that, so that the average idiot thinks things just cost more (because of greedy assed corporations) rather than their money being worth less.

The concept of higher prices is understood by everyone because everyone has seen them all of their lives. But the idea of money being worth less each day doesn’t make sense to the average goldfish brain. “Waddaya mean less, it says “one dollar” right there on it!”

Right now JM Bullion is saying my $380 face value of dimes is valued at a lot more than what I paid for them. THAT’S what REAL money does.

There’s a second part to this whole thing and I’ll post it in a day or 2.

Morgan-Dollar
DT
DT
1 day ago
Reply to  ghostsniper

Most places I’ve checked are “out of stock”. Those that aren’t (monex for example) sell only large quantities ($500/face value) for very high prices (about $30,000 – about $84/oz. Spot price as I write this about $81/oz so not a bad deal all in all). This is probably not the time to buy though.

I’m not looking to buy any (nor sell); my stash is for emergency use and this isn’t it. I suspect the boat has sailed on buying silver right now. On the other hand, when the dealers won’t buy, it usually means they suspect a drop in prices and they don’t want to get caught holding expensive metal. One way to catch silver without physical is the ETF (SLV) which is $72 per unit; usually bought in 100s ($7200). Personally, I have a short on silver options right now – I expect a pullback in prices – perhaps down to $55-60/oz. I’ll go long again at that price.

ghostsniper
ghostsniper
1 day ago
Reply to  DT

Right. My last purchase was in Nov. Right now my source is showing about $80/oz. When it goes back down to about $30 I’ll buy again.

Anne
Anne
19 hours ago
Reply to  ghostsniper

Oh dear. I just packed a huge bag of coins to my bank and echanged for $54 in paper money! Now, I feel really stupid! DH and I went through the batch lightly and found many old quarters and dimes, not too many pennies. When I come home from the storey what should I start saving for long term keeping?

ghostsniper
ghostsniper
14 hours ago
Reply to  Anne

Cans, bulk staples, spices.
To start.

Checkers-1
DT
DT
12 hours ago
Reply to  Anne

If those coins were newer than 1964, no big deal. The end of the world isn’t coming but societal disruptions will be. Think “Great Depression” advice. Anyone should have at least 1 month of supplies on hand, the Mormons try for 1 year. More likely is a scenario similar to power being off for a week or so. This book gives practical advice: “Handbook to Practical Disaster Preparedness for the Family” by Arthur Bradley (Amazon). I’m sure there are others similar.

Joe
Joe
8 hours ago

As a follow up to “Remember this from History Class ?”.

https://m.youtube.com/watch?v=dVndVbFC36I

jd
jd
6 hours ago
Reply to  Joe

Good song!

Anon
Anon
1 hour ago
Reply to  jd

Agree with you jd. Maybe xtra good