one penny is worth 3.11 cents if it was made 1981 and prior, and even some of the 1982's. you can buy copper penny sorters online and buy pennies by the thousands from banks to take home and sort. BUT.
indeed, but the melt value is actually higher for a copper penny than it's face value. a copper penny (81 and older, some 82's) has 3.11 (2.6 cents today) cents worth it's weight in copper. that wasn't the case when they originally made them, but the price of metals has increased. that's why they stopped making copper penny's...
that's what they want you to think, which makes me wonder about you. there will always be groups, organizations, etc, that are in a position to trade for gold...
Gold has no more intrinsic value than paper money. You can't eat it, you can't wear it as clothing, you can't drink it. It's rare and it's shiny. That's it. I'm not saying paper money is more viable, I'm saying that in the grand scheme, neither are worth anything.
actually, gold is very useful when conducting electric. it's used extensively in, cpu's, motherboards, and other expensive electronics.
so in essence, it is more valuable than paper...
besides. it is far more respected than fiat money. ask the worlds central banks which one they'd rather have. unless there is meteors raining from the sky and an army of Godzilla's there will be a place to trade gold. no one is saying spend your food money on it.
sink only your extra money into it. the value of precious metals is contrary to the value of the dollar, and the dollar has no where to go but....
consider this. the value of the dollar is absolutely contrary to the value of precious metals. now consider how much further the dollar can fall, and you'll have an idea of how much higher gold will go before it even tops out.
Gold is not in a bubble, numbered green paper rectangles are in a bubble. What do you think happens when a dollar bill assumes the value of the paper it's printed on? Why would that happen? Cause the more of them you print, the less each one is worth. Zimbabwe-time.
Also notable is that silver is close to parity with gold, relative to the dollar.
One ounce of silver was originally $1; one ounce of gold was originally $50. Now we're looking at $44 silver and $1,900 gold, which is 44:1 versus 1,900:50 (38:1). This time last year, silver was drastically undervalued by these ratios.
John Soros has been quietly selling reserves and buying farm land. He'll most likely buy all of it back when it crashes. And he'll be insulated from the coming inflation that will raise the price of food. My advise: Plant a garden and save your money for when gold bottoms out.
I'd be worried about this being a bubble...idk its hard to tell because its been going up so steadily. We need some experts to weigh in on this, anyone?
Debatable, why would you destroy the dollar by printing so many and creating hyperinflation. Must be either a conspiracy or stupidity, and I assure you these people are not stupid.
Agreed, but we are just speculating, and to be honest I often wonder why? because we never join up and make our voices heard, we just do think tank stuff without any action...
At the very least we are spreading awareness. We must get a majority of the population on board before we have the numbers necessary to achieve anything. So talking, and even debating about it is the first step. It's far more than what most Americans are doing...
74 comments
9 [deleted] 2011-08-22
[deleted]
0 tttt0tttt 2011-08-22
Not in your lifetime.
1 [deleted] 2011-08-22
[deleted]
1 dieselphiend 2011-08-22
gold could literally hit $20,000 an ounce. I won't risk missing that. And while $20,00 is far from likely, $3,200 is...
Debt Collapse - $20,000 Gold - Mike Maloney http://www.youtube.com/watch?v=tj2s6vzErqY
7 dieselphiend 2011-08-22
$1905 now.
6 dieselphiend 2011-08-22
cough cough*
5 grim98765222 2011-08-22
Makes me wish I could afford to invest in gold T_T
6 [deleted] 2011-08-22
[deleted]
7 [deleted] 2011-08-22
Is there a poor mans silver? And that, is there a poor mans version of it? Cause I want to invest, but all I got is tree fiddy.
9 [deleted] 2011-08-22
Yes, It's called Marijuana and it's a fabulous investment.
edit: buy seeds too
3 dieselphiend 2011-08-22
one penny is worth 3.11 cents if it was made 1981 and prior, and even some of the 1982's. you can buy copper penny sorters online and buy pennies by the thousands from banks to take home and sort. BUT.
destroying pennies for melt value is illegal...
1 bobaf 2011-08-22
A penny should be worth 1 cent.
2 dieselphiend 2011-08-22
why?
1 bobaf 2011-08-22
A penny represents 1 cent, there for all pennies should be the same.
2 [deleted] 2011-08-22
the actual cost of the metal, plus fabrication costs, plus distribution, comes out to above 1 cent, i think is whats going on here.
1 dieselphiend 2011-08-22
no, just the cost of the metal alone. a copper penny would probably cost about 5 or 6 cents to make today.
3.11 cents (value of the copper) + production and distribution
Edit - the price is down to 2.6 cents per penny.
1 dieselphiend 2011-08-22
it's also getting to the point where nickels are worth more than 5 cents...
1 [deleted] 2011-08-22
beaucrocacy at its best. (and my spelling is public schooling at its best)
2 dieselphiend 2011-08-22
indeed, but the melt value is actually higher for a copper penny than it's face value. a copper penny (81 and older, some 82's) has 3.11 (2.6 cents today) cents worth it's weight in copper. that wasn't the case when they originally made them, but the price of metals has increased. that's why they stopped making copper penny's...
2 dieselphiend 2011-08-22
here's a really good website that gives the current melt value of all coins...
http://www.coinflation.com/
1 bobaf 2011-08-22
Thanks! I understand what everyone is saying, I just find it funny.
2 emmettjes 2011-08-22
Junk silver, pre '64 US silver coins 90% silver.
2 Hellbender712 2011-08-22
Aluminum.
1 dieselphiend 2011-08-22
buy industrial silver, and scrap silver from places like eBay, and apmex...
1 wwfmike 2011-08-22
It's about this time that I noticed that spongejimsquarepants was about eight stories tall and was a crustacean from the palezoic era.
4 Slipgrid 2011-08-22
Silver is good.
If you believe metals are going up, then platinum is cheeper than gold.
1 deplume 2011-08-22
http://www.youtube.com/watch?v=tj2s6vzErqY&feature=youtu.be
A good introduction to metals. Yes, delivered by a gold dealer but watch it anyway.
3 Zigguraticus 2011-08-22
If the world ended tomorrow, only the truly moronic would trade a shiny rare metal for food and water. Gold is just as worthless as paper money.
1 sfudman 2011-08-22
some people are trying to run a civilization here, they have a longer time horizon than tomorrow.
-1 dieselphiend 2011-08-22
that's what they want you to think, which makes me wonder about you. there will always be groups, organizations, etc, that are in a position to trade for gold...
0 Zigguraticus 2011-08-22
Gold has no more intrinsic value than paper money. You can't eat it, you can't wear it as clothing, you can't drink it. It's rare and it's shiny. That's it. I'm not saying paper money is more viable, I'm saying that in the grand scheme, neither are worth anything.
2 dieselphiend 2011-08-22
actually, gold is very useful when conducting electric. it's used extensively in, cpu's, motherboards, and other expensive electronics.
so in essence, it is more valuable than paper...
besides. it is far more respected than fiat money. ask the worlds central banks which one they'd rather have. unless there is meteors raining from the sky and an army of Godzilla's there will be a place to trade gold. no one is saying spend your food money on it.
sink only your extra money into it. the value of precious metals is contrary to the value of the dollar, and the dollar has no where to go but....
3 tttt0tttt 2011-08-22
Gold is going to crash so hard, the impact when it hits bottom will knock the fillings out of investors' teeth.
If holding gold is such a great idea, why are their people selling gold? Obviously those people prefer paper currency.
1 dieselphiend 2011-08-22
consider this. the value of the dollar is absolutely contrary to the value of precious metals. now consider how much further the dollar can fall, and you'll have an idea of how much higher gold will go before it even tops out.
1 EmersonBiggens 2011-08-22
Gold is not in a bubble, numbered green paper rectangles are in a bubble. What do you think happens when a dollar bill assumes the value of the paper it's printed on? Why would that happen? Cause the more of them you print, the less each one is worth. Zimbabwe-time.
1 Froztwolf 2011-08-22
How would one go about taking a position against both the Dow Jones and Gold at the same time? That might be an interesting bet.
0 dieselphiend 2011-08-22
i hope you're right, cause I'll buy even more! but I'm quite certain, gold is not in a bubble...
Proof That Gold Is Not a Bubble
http://www.fool.com/investing/general/2011/03/22/proof-that-gold-is-not-a-bubble.aspx
1 Froztwolf 2011-08-22
You don't know how many articles like that I read about real estate in 2006.
2 dieselphiend 2011-08-22
so you don't think the dollar is going to crash?
2 Froztwolf 2011-08-22
I think it might, but I don't trust gold to keep my money safe from it.
2 oonzpoonz 2011-08-22
According to kitco it hasn't broke $1900 yet
3 dieselphiend 2011-08-22
i know, kitco sucks... go here... http://www.apmex.com/
3 dieselphiend 2011-08-22
or go here - http://www.marketwatch.com/
1 [deleted] 2011-08-22
or go here http://www.reddit.com/r/conspiracy/comments/jqyil/gold_just_broke_190000/
2 Jimulacrum 2011-08-22
Also notable is that silver is close to parity with gold, relative to the dollar.
One ounce of silver was originally $1; one ounce of gold was originally $50. Now we're looking at $44 silver and $1,900 gold, which is 44:1 versus 1,900:50 (38:1). This time last year, silver was drastically undervalued by these ratios.
6 dieselphiend 2011-08-22
im so killing myself every time i think about how cheap it was...
3 Jimulacrum 2011-08-22
I get the same way sometimes. It's a dark path. Just be glad you didn't sell off a huge stockpile in 1998.
3 [deleted] 2011-08-22
Then buy some silver. There is still time to make money on silver. In fact, some say it is going to outperform gold.
2 dieselphiend 2011-08-22
indeed, I just don't talk about it.
2 dieselphiend 2011-08-22
$1912. I'm not even sure what markets are still open, but it keeps going up...
1 [deleted] 2011-08-22
there is always a market open somewhere.
1 dieselphiend 2011-08-22
I figured. even on Sunday's the price can change due to stock adjustments.
1 deplume 2011-08-22
Overseas markets open at 3pm PST on sunday. From friday's market close to then there is no movement in the metals markets.
1 dieselphiend 2011-08-22
there is slight price changes according to inventory adjustments.
2 collectivemind 2011-08-22
John Soros has been quietly selling reserves and buying farm land. He'll most likely buy all of it back when it crashes. And he'll be insulated from the coming inflation that will raise the price of food. My advise: Plant a garden and save your money for when gold bottoms out.
1 [deleted] 2011-08-22
Who is John Soros?
0 dieselphiend 2011-08-22
gold hasn't even hit it's ceiling yet.
2 boostmane 2011-08-22
I'd be worried about this being a bubble...idk its hard to tell because its been going up so steadily. We need some experts to weigh in on this, anyone?
1 CyberNixon 2011-08-22
Hello? Gold-r-us? I'll take 8!
no really, where do you buy from? Looking for recommended sellers.
1 OriginalCoco 2011-08-22
Blanchard was good to me. They found exactly what I wanted without a huge markup.
1 dieselphiend 2011-08-22
www.apmex.com
1 jason_grey 2011-08-22
I have a 5g fine gold 999.9 credit suisse ingot. How do i look up the number 534635? Found it as a kid in 1988 how much is it worth now?
2 dieselphiend 2011-08-22
$302.57 in actual melt value. if you were to buy one you'd pay anywhere from $330.00 to $370.00, so never take less than $330...
534635 is just the serial number.
in 1988 that bar was worth only $70.00. very nice find.
1 Trinaxe 2011-08-22
Hey whats up diesel, just a hundo to go.
1 dieselphiend 2011-08-22
hey homeskillet
1 tummypierced 2011-08-22
QE3 right around the corner
http://www.guardian.co.uk/business/2011/jul/13/bernanke-ready-for-more-quantitative-easing
Venezuelan Gold nationalized http://www.google.com/hostednews/afp/article/ALeqM5g84hDUj7Fk7MVAlFViWGFPzQy5JQ?docId=CNG.3e0b0bf5d6ffc0bbe6aa04cf441762df.5f1
Go ahead and sell.. The economy has no where to go but up...in flames!!!!
-1 salimmk 2011-08-22
It's not a conspiracy.
4 sfudman 2011-08-22
the federal reserve notes conspiracy is unfolding in front of everyones eyes.
2 dieselphiend 2011-08-22
that's right. the destruction of America, hiding in plain site.
1 boostmane 2011-08-22
Debatable, why would you destroy the dollar by printing so many and creating hyperinflation. Must be either a conspiracy or stupidity, and I assure you these people are not stupid.
2 dieselphiend 2011-08-22
to force us to use a global basket of currencies...
SDR's
after the dollar truly crashes...
it's my opinion that the American economy is being intentionally destroyed to eventually bring in a One World Government...
1 boostmane 2011-08-22
Agreed, but we are just speculating, and to be honest I often wonder why? because we never join up and make our voices heard, we just do think tank stuff without any action...
I wonder if we could do something...
2 dieselphiend 2011-08-22
At the very least we are spreading awareness. We must get a majority of the population on board before we have the numbers necessary to achieve anything. So talking, and even debating about it is the first step. It's far more than what most Americans are doing...
1 dieselphiend 2011-08-22
the way the country is right now makes me think we could wake up one day under UN control...
we are not a sovereign Nation.
-2 RogerStrong 2011-08-22
It's a Global Conspiracy!
1 dieselphiend 2011-08-22
sigh, don't you ever go away? you're like a sore thumb...
1 OriginalCoco 2011-08-22
Blanchard was good to me. They found exactly what I wanted without a huge markup.
1 dieselphiend 2011-08-22
www.apmex.com