If it only costs 800 bucks to buy a farm back in the day... that's only a max of 800 Troy ounces of silver, yeah? Assuming a value of $12 per Troy ounce that's less than $10k total value. Seems off.
Although silver was $12 a few months ago it is now threatening $30... but even at that price the 800 Troy Ounces of silver is only worth $24,000 today.
That's why you're lucky if you can find a farm under $800,000 nowadays.
Seems like the numbers are off. Just sayin.
Also I have a handful of old Morgan and Liberty dollars from back in the day.
Funny how my coin collection from childhood's real value is simply the silver contained therein.
I used to think it was from being an old antique. Nope.
"Funny how my coin collection from childhood's real value is simply the silver contained therein."
Same with the copper coins you colleccted. Many of them are just worth their weight in copper, also. Only a few such coins were produced in small quantities such that old copies are worth much. especially since most have been circulated. Not rare and shitty condition equals melt it down for metal. :)
"Seems like the numbers are off."
Well okay, say you manage to find a shitty old dump of a farm with land for $400,000 right now....
We should keep in mind that dollars weren't ounces of silver. In Canada at that time they were 92.5% silver. This one from the USA was 90% silver, and it weighs 0.86 troy ounces. So there was about 620 troy ounces of pure silver in 800 or so of those "dollars".
For those same dollars to buy a farm (priced at 400k), silver would have to go up to $645 per troy ounce!
Which is what I'm saying. Silver's price has been manipulated downward for so long, we don't even consider it a precious metal anymore. But we use it in industry like it's going out of style. The mines are having trouble keeping up with demand, and above-ground stockpiles are at generational lows right now. Manipulation of precious metals prices was once a theory, and is now just a plain old conspiracy. At some point, there's going to be a sharp revaluation, and farms will again be purchased for bags of metal coins.
Silver is usually 1/100th the value of gold, and it still is. So clearly you must think that gold is being suppressed just as bad as silver, yeah? I've heard the tales of the derivative markets setting the price of the actual asset (instead of the asset controlling derivatives like one would expect), and I believe it. The world is in for quite a shock if the derivative market fails and precious metals reevaluate to their true value, eh?
Yes, I was reporting on gold price manipulation 10+ years ago, when it was only the talk of "nutjobs". Like with most things I was right about, when the truth came out, nobody apologized for calling me crazy all those years. But I'm used to that now. Really, really used to it!
Historically gold has been about 15 times the price of silver. Recently that went up to 125 or so, right now it is 73. During this PM bull market, that number should drop back toward (or even below) 15.
Interesting.
People are notoriously good at forgetting that they were ever wrong.
So true. I constantly remind myself that it's okay to be wrong, and powerful to be able to admit it.