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Silver and the elderly

Discussion in 'Gold Silver (All things Metal)' started by Usc96, May 24, 2011.



  1. Usc96

    Usc96 Gold Member Gold Chaser

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    I was at the local gold and silver place today and noticed a older couple, probably between 65 and 75 years old, asking questions about buying bullion silver. The husband did all the talking. The questions indicated that they were late coming to the game. Seems something they saw, heard or read recently spooked them into thinking they needed to stock up on silver.

    This couple was born right before or during WW2. What could have spooked these folks to make them move from going about living their normal lives, to wanting to investigate buying $1,000.00 face value of junk silver, or rolls of SAEs?

    I did not get the impression that they had any sort of PM war chest. Rather, I got the distinct impression that they were purchasing their first silver.

    I know most of us have been watching the PM market go up for years, and have our finger on the pulse of the rotten economy, but for those who just recently saw the light, what was it that caught your attention? :confused:
     
  2. TiKi

    TiKi Silver Member Silver Miner

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    Glen Beck?
     
  3. pezking7p

    pezking7p Seeker Seeker

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    I've always been interested in gold. With the recent silver price hikes, I've heard a lot about it at work and other forums I frequent. I started reading about it, bought some SLV (mistake), and have since bought a few bits of silver and gold.

    Mostly GIM entertains me at work, and some of the gold bug's enthusiasm really got me going. Now I'm entertained by looking at gold on ebay for deals, and also learning about the different gold coins.
     
  4. graspAU

    graspAU Seeker Seeker

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    Maybe their generation X kids explained to them what counter party risk is and where we are in the credit cycle.
     
  5. Rusty Shackelford

    Rusty Shackelford Midas Member Midas Member

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    Sad thing is at 75 yrs old, they are short for the world and to late to the game unless it is preservation to pass down to living family. JMO though.
     
  6. REO 54

    REO 54 Midas Member Midas Member

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    I bought some SAE's for my mom back when it was in the high 20's.She 74.She understands well the potential fiscal situation we are in and has no problem converting some of her frn's
    into PM's.She's all on board for preppin' too.Been doing that since the 80's.She calls herself a T.O.B.! {Tough Ole' Broad.}
     
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  7. Gcubed

    Gcubed Banned

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    The elderly should focus on gold. Who wants Gramma gettin' a hernia or hurting her back? :no_ma:
     
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  8. ccjoe

    ccjoe Gold Member Gold Chaser

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    Then the elderly, who can least afford it, would lose a ton of money than if they had put their money into silver.
    Give the elderly some help. Buy silver not gold and not copper.
    As usual today, gold made the headlines that grandma reads, and silver outperformed 8/1. http://www.kitco.com/market/ Give grandma the best advice possible rather than advice based on one's prejudices be it gold OR copper.
     
  9. Irons

    Irons Deep Sixed Mother Lode

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    She could break hip trying to lug a few k of that stuff around!
     
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  10. andial

    andial Sir Midas Member

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    As one gets older the eyes become less able. So large blocks of Silver might be worthier of choice than small chunks of Gold that might get lost or go unseen in old age. JMHO
     
  11. REO 54

    REO 54 Midas Member Midas Member

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    That's what sons and grandsons are for. Besides,she's only liftin' an eagle at a time.
     
  12. southfork

    southfork Mother Lode Found Mother Lode

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    I have friends in their 60s as I am, over the last 2 years they have approached me to help them buy gold, silver and firearms, the masses are beginning to see the beginning of the end.
     
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  13. lhslancers3270

    lhslancers3270 Banned

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    Silver might be a little too volatile for an older person.
     
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  14. Usc96

    Usc96 Gold Member Gold Chaser

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    That certainly crossed my mind. It really seemed to me that these folks were worried about something. They didn't seem like speculators. They gave the impression of people who might be concerned about the future, and more importantly whether the current system was going to be there for them for the next 10 to 20 years.
     
  15. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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    In my youth, I don't ever remember a discussion on 'money'.

    Paper dollars was what we worked for. The fact that they were
    subtly changed from 'certified' to 'note' went unnoticed by nearly
    all citizens. We believed in our country, our government.

    We never would have questioned it's loyalty to the Constitution.
    We expected the politicians to adhere to the American ethic of
    truth, justice, and the American way.

    After all, that was the television mantra we were brought up on.
    We were on top of the world. The Almighty Dollar was universal.
    It was respected around the world. It was money.

    In the midst of conspiracy and shock, LBJ removed silver from
    our monetary system. No one gave it a second thought. The
    Viet Nam conflict was the distraction.

    Nixon removed the gold standard. To his credit, he brought the
    boys home from Viet Nam. Then he screwed up.

    OPEC was the next distraction. Rising oil prices. Shortages at
    the pump. No shortage in the military though.

    Gold rose to $950 +/- and silver hit $48 +/- and inflation rose.

    Who had time to think about the validity of money? It was
    never discussed. It never came up in circles I frequented.

    It wasn't until later years that I read The Creature from Jekyll
    Island that the blinders came off. That put it all in perspective
    for me. I read some Devvy Kidd stuff before that, she has some
    good points, but she's all conspiracy based. Man does not live
    by conspiracy alone. The Creature gave a clear perspective.

    Now it seems some folks are waking from their long slumber.
     
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  16. DualCarbon

    DualCarbon Seeker Seeker

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    When silver tarnishes it is harder for the elderly to see with their dulled eyesight.
     
  17. EO 11110

    EO 11110 He Hate Me Mother Lode

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    i've arranged for two 90+ yo ladies to get some pm in the last 2 years. they understand the need to diversify from frn. sadly, one of them has been buying collector coins for years - all clad :( but she does have a nice pile of junk silver saved from selling avon 40 years ago
     
  18. andial

    andial Sir Midas Member

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    Good point! Thought on it and all I can come up with is that they must purchase large bars then.
     
  19. edsl48

    edsl48 Silver Member Silver Miner

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    As one fast approaching social security age I have had some thoughts regarding the value of silver and or gold in the future and my most important one involves medical care. What if the politicians tinkering with the health care coverage in this country eliminiates coverage for certain conditions for the elderly? What could you buy health care with that would be a valuable easily tradable and non-traceable item? An American Eagle just might buy some drugs or care that one might not be able to obtailn legally in the future.
    Could this happen? Well,, I believe that health care will be rationed in the future. I also belive my generation, the baby boomers, will make very selfish demands on health care and will vote in politicians who will pander to their needs till the health care system implodes under its own weight trying to supply us boomers who have been spoiled all of our lives. Then the rationing will come. That may lead to anarchy, a curency collapse or who knows. I do know if you hold gold, your chances of getting health care are better than someone who holds no gold
     
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  20. Irons

    Irons Deep Sixed Mother Lode

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    You should invent silver bars that have wheels and a handle attatched to them just for these folks.

    Then they could just push them around and not have to worry about lifting them.
     
  21. goldie40

    goldie40 Silver Member Silver Miner

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    Like a lot of older people, they probably had some cash in the house and have seen food prices rising, the dollar falling and figured it would be better to have silver than worthless paper.
     
  22. ccjoe

    ccjoe Gold Member Gold Chaser

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    Silver up 10% this week so grandma would have made 4 years worth of cd money in 4 days.
    John Embry just said yesterday that he sees silver @125 and gold @ 2500 for a gsr of 20/1 this year. I was thinking 100 this year but John and Eric Sprott know better than any of us, for sure. They better with their handling of the NOW 9 billion asset fund.
     
  23. wjv

    wjv Seeker Seeker

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    Mother-in-law found $40 FV of silver last week. Father-in-law passed away a few months back so she has been going through all his stuff, cleaning out the rooms. I offered to buy it from her for spot price, but she wants to hang on to it "just in case" :biggrin:

    Can't blame her!
     
  24. gliddenralston

    gliddenralston Silver Member Silver Miner

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    Define old ?
     
  25. LoveSilver

    LoveSilver Seeker Seeker

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    :angel_smile:
    The larger bars are nice. Not only do they have value - they double as a weapon! :angel_smile:
     
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  26. andial

    andial Sir Midas Member

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    I'm one step ahead of you my man.
    Furniture sliders.
     

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  27. LoveSilver

    LoveSilver Seeker Seeker

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    You can't discount the value of a good doorstop! I tell you the 100 oz bars have more uses than can be believed.
     
  28. ttazzman

    ttazzman Gold Member Gold Chaser

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    Old is always 20yrs older than me........
     
  29. ttazzman

    ttazzman Gold Member Gold Chaser

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    I got intrested in PMs in the late 70s i was in construction watching inflation go rampant....so i got in on the PM peak in 1980.....it seems to me PMs(commodities) and Construction materials go hand in hand as inflation indicators.......


    I used PMs to hedge construction materials rising costs.....it was easier to buy some gold than to buy and store a truck loads of rebar and sheet metal.

    My kids each year got some kind of financial insterment for birthdays and christmas......Stocks....savings bonds.....gold ...silver........they are out of college now and still have the PMS ...the stocks/bonds paid for college
     
  30. engineear

    engineear Seeker Seeker

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    I zip tie em together for a workout...so when I'm "old" I'll be able to lift them.
     
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