If you think “My Rich Uncle” is about Uncle Sam, you’re wrong— our government is broke, busted, and anything but rich. But, my Uncle Ellis is another story— he was really rich.
My Uncle used to carry a $1,000 bill in his billfold. To a 12 year old boy in 1962, he was unbelievably wealthy. He wore cowboy boots, smoked a big cigar, always wore a Stetson hat, and drove a big Cadillac— but not for long. They joked that when the ash trays on my Uncle Ellis Caddy filled up, he’d trade it for a new one.
He lived in a town 30 miles Northwest of Lubbock, Texas. Red dirt, cotton, wheat country. He was mayor of Littlefield for many years. It was his honor to ride his horse at the front of the Veterans Day Parade every year. He had a fancy black saddle all studded out with what seemed like 20 pounds of shiny Silver. He had matching Silver spurs.
Let’s see, if it all really weighed 20 pounds, that would be 240 ounces of Silver valued at $1.00 an ounce in 1962. That’s about $240 worth of Silver. Today, the melt value of that Silver would be $5,808.
A 24 times return over 60 some odd years. By comparison a $1.00 paper Dollar bill will still only buy $1.00 worth of stuff… a lot less stuff today.
So what happened? Why is money worth less today? Why has Silver multiplied in value by 24 fold?
There was lots of Silver around in 1962. Millions of Silver Dollars were floating around and new 1962 coins were still minted in 90% fine Silver. The Franklin Half Dollar, a Washington Quarter, and a Roosevelt dime were all minted in Silver. A five cent piece was still minted in nickel and the Penney in copper.
At times in recent history, Silver you can buy today for around $24 an ounce has traded up to $50. As an investment, Silver could double today’s price and still trade below the historical high. To double in price, Gold would have to go from $1,842 today to $3,684. That’s a stretch.
If you look around at all the really, really overpriced Stocks, it would be hard to see the market indexes going up even 10% next year.
Silver could easily slide up from $24.00 to $30.00 and hardly anyone would notice. That would make for a nice, round 25% gain if that happened. But you can’t make money just hoarding Silver, can you?
In 2020 Silver has gained over 33%. An investment of $100,000 in Silver would be worth $133,000.
By comparison, the S&P 500 Stock index is up less than 14%.
“But this a Covid Pandemic year, right, Silver’s really hot?”
Silver has gained 339% since January 1, 2000.
Let me repeat, in the 21st Century, through up years and down years, Silver has more than TRIPLED in value— up 339%. The S&P 500 Stock index is up only 161%. The three major Stock crashes over the past 20 years strip away a huge share of the money we thought we’d made in Stocks.
You can still buy newly minted U.S. Silver Dollars with a One Dollar face value, you just can’t spend them anywhere. They’ll cost you $30 for one, much less in quantity if you’re an investor.
If my rich uncle were still alive today, he’d probably have a galvanized bucket or two full of Silver Dollars hiding in the back of his closet.
How to Buy Silver Today
You can’t buy $10,000, $50,000 or $100,000 in Silver online. You need to call a trustworthy company who specializes in precious metals. You can probably get all your questions answered in 5 minutes or so over the phone. We don’t buy or sell precious metals, but we can recommend buying from Austin Rare Coins & Bullion. They’ve been around over 30 years and maintain an A+ rating with the Better Business Bureau after buying and selling well over a Billion Dollars worth of precious metals.
Call and ask for Roxanne for top notch service and no Bull. She’s always been like a sister to me.
- Roxanne Byrd Austin Advisor
- Austin Rare Coins, Inc.
- 1-800-549-2392
- Roxanne@AustinCoins.com