Why the dollar was silver, not gold

*Silver was used in daily transactions because of its density of value, so everybody held it, making it the logical choice.

*Silver was not consumed at the time, same as gold. If silver is being consumed at the rate I am reading, then pegging the dollar to a shrinking supply of something can cause problems.

*But the important thing is finding a safe store of value... a dwindling supply (assuming that is correct) makes silver very appealing.

Category:

Education

Tags:

• Silver

[marniespeaks]

do not polish your silver - the tarnish (sulfur) protects the metal

if you find tarnished silver don't be afraid to buy it that's a good way to tell the item has silver. If the tarnish looks green the object probably has more copper

do not polish with a cloth it rubs away some of the silver - leave the tarnish alone unless you want to display or wear it

If you must clean, use the liquid stuff (tarn-x) that will dissolve the tarnish, but don't rub it with a cloth, just let it dry in the air

[silverfuturist]

@marniespeaks Excellent advice! Do not polish your silver!

[ENLIL2000]

Gold alone is unsuitable as a currency because you cannot easily test the purity of gold below 10 carat, so it's completely impractical to alloy gold below that purity level for coinage, thus you cannot mint gold coins of sufficient quantity for commerce. A second, lower value metal is necessary and silver does and has always fit that bill perfectly. That's the story, plain and simple.

[silverfuturist]

@ENLIL2000 Very true before plastics... how about plastic coins that have a small amount of pure gold in them?

[ThisIsRogueLiberty]

@Silverfuturist I know you don't tell folks what to do, and your reply will not be taken that way, BUT:

The general idea seems to be to buy and hold Silver now, then sell it for Gold when it is most advantaged to do so...GOLD seems to be the end result.

...So why not skip buying the Silver now and just go for the Gold now? Because it seems Gold will always be worth more than Silver.

Help Silverfuturist...my brain hurts...LOL

[silverfuturist]

@ThisIsRogueLiberty I should clarify by saying sell the amount of silver for gold that makes sense, maybe do a portfolio balance as the ratio gets lower. For example: if your goal was 50% gold, 50% silver and you bought when the silver:gold ratio was above 70, your current ratio has changed to 25% gold 75% silver! But don't do this often, the transaction costs are high.

[rockvillesounds]

Damn dude, lay of the coke!!

[WACWichita]

You're hard to listen to, but you know what you're talking about...

[zekehooper]

Love the cat and the shop.

[blackswanflea]

Poland produces 40 million ounces of silver a year, thank you very much. Greetings from Poland - the new new country after the crash:P

[HitomiKagewaki]

If I was rich I would buy Double eagles(Twenty dollar gold pieces/coins). I'm glad the us mint still produces gold bullion and proof gold eagles(1/10, 1/4, 1/2, and a full troy ounce of gold). They make very VERY few of the proofs only 30,000 or less of each size, silverfuturist do you think these would be a good to buy or just stick to silver and gold bullion?

[GuysCallMeShawna]

I was gonna do a video response for this and another one of yours but I haven't had the time; anyway, thanks a whole bunch, Joe; I understand the 'protection of wealth' and I appreciate your perspective and information.

Much Love, Shawna

[walktheworld]

Good ideas, but you need to take two slow deep breaths before you record. :)

[marniespeaks]

@farhadekoohkan watch?v=dHJrWOMq_h8

[marniespeaks]

@farhadekoohkan baking soda is an abrasive so any kind of rubbing will wear the silver - tarn-x is like magic, you don't have to rub anything BUT if you use/put food stuff next to the silver that could be a problem

best to line it if it's a fruit bowl or if it's a pitcher, well I wouldn't drink out of it, unless it's lined in glass

tarn-x is a little costly too so if you don't soak it in a bowl you could saturate a soft cotton ball and paint it on gently - stuff works fast - wear latex gloves

[LOLcopter333]

Love you Joe, keep up the good work.