Auctioning Off The Fine Silver

The price of silver and gold is on the rise; so, I thought it would be fun to talk about precious metals and inflation.

Are commodities really rising or is the value of the dollar falling?

Before doing any blogging on the topic of precious metals, I thought it wise to scour the house and rid it of any precious metals that might be hanging about.

Happily, I discovered that I was gold free.

I discovered, however, that I had an old coin collection that three loose silver dimes, war nickels, and a quarter collection. I also had a few buffalo nickels.

The quarter collection was in two Whitman Folders. It had three silver quarters and twenty four clad quarters. I didn't want to give a nephew a book with a bunch of empty holes that were expensive to fill, so I decided to auction it off: eBay auction.

I am hoping the auction will fetch the melt price of the silver plus the face value of the clad coins. The melt value of the silver is $26, and the face value of the clad coins is $6 (6+26 = 32). Shipping will cost about $5.00.

My plan is to use the winnings to buy a gram scale

I wish to use the gram scale to create an interesting product for a future blog post.

I am doing just a day auction for coins. Here's hoping I bring in enough to buy a scale.

Utah's Gold Standard!

On March 25, 2011, Utah Governor R Herbert signed the Utah Legal Tender Act which is theoretically a step to re-establishing our ability to trade gold and silver coins as legal tender.

It doesn't really do that as state and federal tax laws makes using silver coins at the value of the silver extremely difficult.

The law appears to allow people to trade old gold and silver coins at the face value of the coin. So I could trade a silver dollar that contains over $36 in silver as a dollar.

The fact that the law doesn't seem to actually do anything doesn't matter to me. I decided to use the new law as an opportunity to blog and neither laws nor reality seem to impede people in exercising their God given right to blog.

Afterall, a global discussion about the differences between silver coins and fiat money might awaken people to the damage our leaders have done to our nation during this progressive era.