My name is Shawn Ozbun, and our goal is to keep you up to date with what’s going on in the world of Gold and Silver by providing you with current news and precious metals pricing.
The Silvertowne Vault Cast is brought to you by www.Silvertowne.com
Hello friends and thanks for tuning in to todays SilverTowne Vault Cast. I’ve got some pretty interesting topics for you today. We are going to go over some Silver 101,we are going to talk about why people are hording coins and then some alarming pole results that really bring to light how the American people feel about the future of our economy and country.
Our views on YouTube and on iTunes are increasing more and more every day and I just wanted to thank you all for listening, for caring about this very important topic and thank you for your support! I can’t tell you how happy it makes me to know that there are hundreds of you out there who understand what’s really going on and it’s so good to know that I am not alone in this because it’s very easy to feel like you’re the only one who’s awake. So thank you for supporting me and this show and thank you for your comments and your feedback and I would really appreciate it if you would continue to give me your thoughts. You can do that by leaving a comment on YouTube, iTunes or you may just email me at vaultcast@silvertowne.com .
I did have a good question posed to me on our YouTube channel that I wanted to read to you guys and give a short answer. Before I do, I just want to be clear that I am not a prophet. I don’t know the future. I just take what’s going on currently and I compare it to history and that’s how I come up with the beliefs that I have.
So here is the question. In the event of a major currency collapse. Who will buy our gold and silver? Will things get so bad that there wont even be a civilized society? I think there is going to be an inflationary induced starvation holocaust coming to America.
Now this is just my opinion. I think that if our currency completely collapses that at least initially that they only form of money that will be available for making purchases or bartering will be precious metals. The reason I believe this is because what I’ve read about history. For example I think I’ve mentioned on this show before about how people were able to buy entire commercial blocks of real estate with 1 ounce of Gold in Germany after the Weimar collapse. I’m not saying that you will be able to do that hear in the United States but that is just an example of the way it has played out in History before. Now as far as the inflation and the starvation that you brought up. That is something that is very possible. That is usually a symptom of an economic collapse. Even this country has dealt with that during the great depression.
So thank you for your comments and questions. I don’t know all there is to know but that is where my thinking is on the topic.
Now lets get into today's precious metals pricing!
Gold - $1648.13 down $8.19
Silver - $30.07 down $0.11
Platinum - $1551.00 down $5.00
Palladium - $678 down $6.00
Financial News:
SILVER 101 – DON’T PANIC!
If I was given a $1 bill for every lament I’ve heard from those who bought physical silver just before the spot price dropped once the purchase was made, I could fill a briefcase with portraits of George Washington.
So what if silver drops $1 or $2 after you bought a few ounces? The dip isn’t going to make you homeless. While today’s price might be lower than it was a week ago when you took the plunge, you still own a chunk of a valuable and historically proven commodity. Don’t let your life be ruled by every dip and uptick in silver. Panic leads to a lack of logical thinking.
Why are there so many sad tales of people buying silver just before it drops, but fewer happy endings? Why are there so many “shoulda, coulda, woulda” tales when silver has been on a solidly upward path for seven years? Blame it on human nature.
Many buyers act more on emotion than calm thinking, and those types tend to buy as silver is rising. They fear (not always without reason) that the metal may be headed for an extended run, and they want to catch what could be the last train out. No bullish stock or commodity rides a straight road to the top, and there will be many dips, pauses and plateaus along the trail. A 4 percent decline isn’t the end of the world. Read More...
65 Percent Of Americans Believe That 2013 Will Be A Year Of Economic Difficulty
Do you believe that economic trouble is coming in 2013? If so, you have a lot of company. According to a brand new Gallup poll that was just released, 65 percent of Americans believe that 2013 will be a year of "economic difficulty" while only 33 percent of Americans believe that 2013 will be a year of "economic prosperity". Gallup has been asking this question for a lot of years, and the percentage of Americans that are anticipating economic difficulty in the year ahead has not been this high since the early 1980s. And without a doubt, there are a whole lot of reasons to be deeply concerned about the economy as we head into the new year. But it isn't just 2013 that Americans are pessimistic about. According to the new Gallup poll, 50 percent of all Americans believe that the best days of America are behind us, and only 47 percent of all Americans believe that the best days of America are ahead of us. Those are very sobering numbers. Half the country believes that it is only downhill from here for the United States. Unfortunately, they are exactly right. Things are rapidly going to get worse for our economy and for our nation as a whole. We are going to start reaping the consequences of decades of very foolish decisions, and the pain is going to be immense.
Gallup asked some other very interesting questions as well. The following are some of the other results from the poll...
-68 percent of Americans believe that 2013 will be a year of rising crime rates.
-57 percent of Americans believe that 2013 will be a year in which American power will decline in the world.
-82 percent of Americans believe that 2013 will be a year in which taxes in the United States will rise.
So why are so many people so pessimistic as we enter 2013?
That is a good question. I think that a lot of people are starting to wake up and are realizing the gigantic problems that are staring the U.S. right in the face.
Even our friends over in Europe can see what is happening to us. We are like a former athletic champion that is now clearly on the wrong side of "middle age" and is exhibiting obvious signs of decline. We still like to think of ourselves as "the champ", but the truth is that we are fat, lazy, broken down and bankrupt. Read More...
Why Are People Hoarding Coins?
Stocks and bonds are common investment vehicles which are owned, directly or indirectly, by investors and pension holders. Metals also have a market value; silver and gold, for example are traded daily. Other metals also have value and a new breed of investors is emerging: the coin hoarder.
What's in Your Change?
All American coins are made from a variety of base metals. Prior to 1965, dimes and quarters were made primarily of silver, until the soaring cost of silver forced the United States Mint to change the composition of the coins to a cheaper alloy. Prior to 1982, pennies were composed of 95% copper, until lower-cost zinc replaced a substantial amount of it. Nickels are still composed of 25% nickel and 75% copper. As the underlying values of the metals rise, the coins become theoretically more valuable. At today's prices for copper and nickel, a five-cent piece is worth almost seven cents. There's a catch, however. Since 2006, it has been illegal to melt down pennies and nickels.
While they can't melt them down, there's nothing stopping hoarders from stockpiling the coins. Online sales sites, such as eBay, allow for trading coins in bulk. Coin hoarders gather on online discussion forums, such as Realcent.org, to discuss everything from coin sorting methods to building hidden bulk storage in their homes. Small-time hoarders get their coins from their local bank tellers, whereas more serious ones buy online in bulk.
The Bottom Line
As the value of metals such as copper and nickel rises, investors are increasingly interested in tucking away vast amounts of pennies and nickels, hoping that their investments pay off some day. Based on the amount of time needed to collect the coins and the opportunity cost of the investment, it may be a losing, albeit fun, enterprise. Read More...
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For the best source for acquiring gold and silver please contact Silvertowne at 1-877-477- coin, that’s 1-877-477-2646 or you can visit us at www.silvertowne.com. Silvertowne has been a trusted precious metals and numismatics dealer since 1949.
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[Disclaimer] Shawn Ozbun is not a licensed financial adviser, there is risk associated with all investment including gold and silver. You should seek advise from a licensed financial expert before making a purchase.
