There are more than a few heads spinning as a result of the current tremors in the commodities market. You may be asking if now is the time to buy, sell or stick to using your AOCS Approved medallions as an exchange/barter vehicle. As long as the market is headed towards a more accurate reflection of the true value of silver, then the best advice may well be to grab as much silver as you can and hold on to some and trade with the rest. Obviously you want to have the greatest amount of buying power at any given time as possible. With the trading value of AOCS Approved pieces at approximately double their current retail cost, your money obviously goes twice as far when it is silver as it does if it remains paper.
But don’t take my word for it, here’s what my friend, Richard Smith, has to say about the current scene…
09/23/10 Tampa, Florida – To prove that all my yelling, “Buy silver now, or you’re a moron!” has paid off, silver is getting a lot more press coverage lately, like the headline “Silver Hits ’80 Level; Gold Sets Fresh High,” which appeared on the front page of The Wall Street Journal’s “Money and Investing” section.
The reason that gold at $1,271 was hitting new record-highs, but not silver, is that silver, at $20.74 per ounce, is only at the highest price since October 1980, which is almost exactly 30 years ago.
Suddenly, I feel myself wanting to launch into some hyperventilating, rabid recommendation to buy silver, waxing overly-enthusiastic about silver as some “bargain investment of the century” because of any of a dozen reasons right off the top of my head, and probably many, many more if I were smart enough to understand their significance, which I can only barely sense, even though people are screaming at me, “What is it that you don’t understand, you moron? We’re been over this a dozen times!”