Silver Spot Price Increases Return Purchasing Power to Stackers
Inflation has been wreaking havoc on the majority of everyone's budget. The only people indifferent to the price increases are those who are well-off. Fortunately for those stacking silver, spot price has rapidly increased over the past few months.
In the 1940s, a basic McDonald's hamburger cost $0.15.
(Created with Bing)
(Source)
That same basic hamburger now costs $2.39.
(Source: DoorDash)
In the 1940s, dimes and quarters were made of 90% silver. At that time, silver was about $0.35.
(Source)
So, a 1940s dime containing about 0.072 ounces of silver was worth about $0.025. (0.072 × $0.35)
That same dime is now worth $5.18. (0.072 × $72)
That now buys you two hamburgers with some change left over! The crazy part is with all of the economic instability, uncertainty and increased industrial demand for silver, we may not have reached peak price discovery.
This is what the last 6 months look like.
(Source: Kitco)
That doesn't look to me like silver price is slowing down anytime soon. Time will tell, but for many stackers who bought back when silver was cheaper, this is turning out to be exciting times!
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I've got a few tubes of junk mercury dimes that Im thinking about sending off to be melted down. Guess I need to shit or get off the pot on this one.
I wouldn't melt down the Mercs, but then I'm partial to Mercs over Rosie's.
I totally get wanting to take profits while you can.
!BBH
!PIZZA
!ALIVE
Almost all of them are culls. You can barely read dates on them.
Ah, that makes sense. I'd do the same in that position.
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I lost count of how many McDonald's free coffees as I collected hundreds of those little stickers. The Basic burger hasn't changed much over the years even as I quit eating this McJunk long ago.
!PIMP
!LOL enough free coffee to last you a couple of years, eh? 😆
Yeah, I don't hardly eat there except for the occasional breakfast sandwich.
!BBH
!ALIVE
!PIZZA
The ride isn't over yet! The next few months will be fun to watch those silver prices continue slowly upward!
!BBH
!PIZZA
Right? Still, might as well DPA (Dollar Profit Average) on the way up, the same way most of us buy into it.
!BBH
!PIZZA
!ALIVE
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How I would love to walk into a McDonalds and pay with a single coin. It has a bit of a romantic image. But businesses are not likely to accept silver coins anytime soon and the gov is unlikely to make new coins that actually keep up with inflation and have some value, so my image will have to remain just that. I can get close to it in Japan, with the ¥500 coin, but even that one is being made less and less useful from inflation.
Happy New Year, @bulliontools!
Let us see at what levels the price of silver will settle after this week. I do hope you have taken advantage of the spikes in some way or another!
!BBH
!LADY
!PIZZA
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LOHtokens.@silversaver888, you successfully shared 0.1000 LOH with @bulliontools and you earned 0.1000 LOH as tips. (7/50 calls)
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Happy New Year to you too!
I haven't yet. I'm waiting to see how much the silver to gold ratio tightens, and then I'll likely convert some of my silver to gold, starting with the collectibles.
!BBH
!PIZZA
!ALIVE