Friday, May 27, 2011

Millionaire Wellington Burt Should've Bought Gold!

Wellington R. Burt was a lumber baron from Saginaw, MI who died in 1919, leaving a fortune then valued at $90 million dollars. At the time, he was one of the eight richest men in the USA. What makes him even more interesting is that he stipulated in his will that his estate should not be distributed until 21 years after his last grandchild had died!

Recently, a Michigan probate court finally settled his estate, and will divide an estimated $100 million dollars among a dozen of his relatives. Obviously, money like that is a godsend for anyone, but I have to wonder just where his money had been parked that it's value in US Dollars has virtually stood still. Did they throw it all into some low interest passbook savings account?

I like to imagine, however, what would've happened if he'd converted his entire wealth into gold shortly before his death. At $20 per ounce he could have purchased 4.5 million ounces of the shiny, yellow metal! At a price of $1500 an ounce today, his estate would now be worth 6.75 BILLION USD! A substantially larger sum of money for his heirs to split.

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Is Paper Money Better than Gold?

A recent article posted on Seeking Alpha was entitled, Gold too Variable to be a Currency. The gist of the article was that the ups and down of the precious metals gold and silver were just too steep and unreliable to form a stable currency. The US Dollar, on the other hand, was lauded as a much more suitable form of money as it's daily and weekly movements versus other fiat based currencies was more gradual.

I couldn't stop myself from commenting on this "interesting" take on money. See my responses and those of some others below:

Rick (i.e., Me): So, gold is too variable to be a currency, but the Federal Reserve Note is the Rock of Gibraltar? Let's put the FRN vs. Gold head to head:

In 1913 (when the FRN was born - illegitimately), the average house cost $3,400 - a millionaire could buy about 295 average homes.

If you bought gold in 1913 with your million dollars at $20 an ounce, you'd have purchased 50,000 ounces. The value of the 50,000 ounces today would be about $76 million dollars.

In 2011, the average house cost around $200,000 with gold at $1520 per ounce. With $76 million dollars you could buy about 380 homes!

If you kept the cash in, well, cash... you could buy 5 WHOLE HOMES now! What happened? The government and the Big Bankers stole your money using a sly instrument called INFLATION.

Sheik Rattle Enroll (alias banking shill): Rick is saying that inflation is predictable whereas precious metals are unpredictable (they can lose 30% of their value in a week). Nobody here is denying the existence of inflation, the author's chart even shows it. What you're doing is called a straw man argument.

You show that straw man!

Rick: I don't believe I am attacking a straw man. We're examining gold vs. paper fiat money as currency based on a predictability or stability component. My example above sought to show stability of purchasing power over a century. I could just as easily have gone back to the Roman Empire 2000 years ago, where an ounce of gold bought a fine toga then, and a fine suit of clothes today. I believe that is a true measure of stability!

Secondly, accepting that inflation is a part of life is the core of the problem with the US and Europe. Inflation is non-existent in money that is backed by gold and/or silver. It has only become an accepted part of reality today because every sovereign government in history granted the power to print money on demand has abused the power, thereby reliably debasing the money. Personally, I don't see why I should prefer a thief who steals from me, just because he does so reliably!

Lastly, it's true that governments and banks have also "reliably" manipulated the price of gold and silver downwards as a means to prop up their fiat paper. However, we shouldn't blame the victim for being raped by the attacker on a consistent basis, should we?

I received no further replies from the Sheik.

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies, APMEX Gold and Silver and Silver American Eagles.


Should You Buy Foreign Gold & Silver Coins?

Starting out as a coin collector when I was seven, and eventually evolving into a precious metal bullion investor as an adult, I consider myself to be pretty knowledgeable about the subject of gold and silver coins. At least USA coins, that is.

Investors are confronted with a myriad of silver and gold coin & bullion choices today. A heck of a lot more than when I first started collecting. There are the American Gold Eagle (AGE) one ounce coins, the American Buffalo gold coin, the half ounce Presidential Spouse issue, the American Silver Eagle (ASE), junk silver (pre-1965 dimes, quarters, halves, silver dollars) among others. Of course, all of the above coinage are US Mint products. When you include the Coins of the World, however, choices expand exponentially. Suddenly, you must contend with the Canadian Maple Leaf, Austrian Philharmonic coins, the French Roosters ( pictured above), the Swiss Gold Helvetia 20 Franc, the Chinese Panda, the Australian Kookaburras, Mexican Silver Pesos and the Silver Libertad, etc.

So, if you're a US citizen interested in acquiring silver and gold coins as hedges against inflation, hyperinflation, and survival trading, should you buy substantial amounts of gold and silver coins from foreign countries? My answer is no, and here's why:

1. Most Americans do not speak foreign languages. A coin featuring anything but English will be treated with suspicion and trading reluctance.

2. Foreign coins originally designed for circulation may not be easily convertible to troy ounces. The Swiss Gold Helevtia has 0.1867 troy ounces of gold. For Americans already challenged in the math department, that type of coins means a lot of multiplication and moving of decimal places. American Gold and Silver Eagles bullion coins in contrast not only feature familiar images but easy-to-read troy ounce information. Even junk silver coins can brag of familiarity benefits, and a quick education course including these 90% silver coins can include a snippet about how $1.40 in junk silver equals one troy ounce of pure silver.

3. Many foreign numismatic coins and bullion products carry higher premiums than US Mint products. For example, the ASE carries a current premium of $4.59 on, but the Chinese one ounce Panda has a hefty $10 added cost above spot! Collectors who anticipate a healthy market for specialty coins in the future may find such high premiums acceptable, but those preparing for anything from hyperinflation to economic collapse may see these tacked on costs above silver spot price as wasteful.

4. Lastly, the knowledge equation. Most Americans today know virtually nothing about gold and silver pricing, much less the differences between US coin and bullion products and those of foreign nations. A crash course will be required before trading with the previously uninformed during a crisis. For US bullion coins, the silver content markings of the US Mint on the hundreds of millions of ASE's in investor closets will tell them all they need to know. The prep course for US 90% junk silver is slightly more extensive, but the fact that they're all dated pre-1965 and that $1.40 in any combination of dimes, quarters, halves, and silver dollars equals one ounce of pure silver, can be absorbed fairly fast.

Note: I think that 40% silver Kennedy halves (1965 - 1969), proof coins, and private bullion products should be avoided mainly due to the fact that they make the education process markedly harder. In addition, Americans have been exclusively using US Mint products as money for over 200 years. I firmly believe, (despite vociferous believers to the contrary), that privately minted bullion "rounds" will be an anathema to the average American. Besides, the US Mint has never to my knowledge been accused of short-changing their products as far as precious metal content is concerned. Mainly, because there is no profit motive to do so. Private companies, on the other hand, have had and would continue to have a powerful incentive to sell debased PM products at full purity pricing.


Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):


Saturday, May 14, 2011

Should You Buy Copper Rounds?

Today with the rising prices associated with gold and silver, some people are turning to the number #3 monetary metal - copper. The US government doesn't make any 100% (or close) copper coins anymore for collector's or circulation, and hasn't since the copper penny was phased out in 1982, so private companies are stepping in to meet the demand. The above picture of a copper American Silver Eagle - type round is just one example of the copper investment round in action. Other rounds featuring Ron Paul in copper have also been produced. Copper bars have made a rather heavy appearance on the scene as well.

So, should investors who haven't boarded the physical gold or silver trains to date hop the copper express? In a word - NO!

The first, and most obvious reasons for leaving copper out of your physical investments is painfully clear. At $3.99 USD a pound it makes silver at $35.44 per ounce seem like a lightweight! If you could actually buy copper for spot price you'd have to buy 4000 pounds worth of bars just to manage a modest $16,000 investment! That's twice the weight of a small car! Who wants to store a couple of cars worth of metal in their broom closet?

Secondly, investing in physical copper rounds and bars is cost-prohibitive. A one ounce round of copper goes for about $2.00 on ebay! That's 800% over the spot price of copper. Copper would have to rise to close to $32 a pound just to break even on such a so-called investment!

Thirdly, no clear route of resale. You can take gold and silver coins, bars, and rounds to numerous coin shops, internet sites, and refineries and sell your precious metals quickly and easily. With copper...not so much. I called Midwest Refineries to find out if I could sell any copper rounds or bars to them for cash...and the guy just burst out laughing! When he calmed down, he said it just wasn't anywhere near economically feasible to deal with relatively small amounts of copper in the refinery process. In fact, they bought huge log-like copper billets or enormous piles of scrap when they were running a copper melt. These billets often weighed 4200 pounds and up, and were delivered on a regular contract with a major copper producer.
Bottom line: the only way you'll be able to re-sell your copper rounds is if you can find other poor souls who are willing to make a bad investment to relieve you of your bad investment!

So, is getting on board the physical copper investment train a sound investment decision? Heck, no!

PS: 5/19/11 - I just received an email promoting copper rounds from the respected Gainesville Coins. Their selling point is that the coins are only $1.81 premium per coin. To those buying silver eagles and rounds that sounds on the surface to be a good deal. For example: Apmex is currently asking for a $5.00 premium above spot on American Silver Eagles (ASE's).

Once again, however, if you look closer the numbers just don't seem all that peachy. Firstly, the one ounce copper round has a current metal melt worth of $0.28 - so when you add in the premium you get to just over $2.00 per round. It's all just a sales smokescreen, though.

Bottom Line: you're paying about 800% over current copper price of about $4 a pound for your one ounce copper round. Copper would still have to climb to $32 per pound before your "investment" in copper bullion can break even. Your only hope of seeing any profit, or even just get your money back, means you're going to have to find a sucker willing to take the terrible investment off your hands.

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below): 


Wednesday, May 11, 2011

Smug Liberals and Willful Ignorance!

This is my favorite picture of SMUG OBAMA. I think it typifies the arrogant, smug, condescending attitude that liberals enjoy inflicting upon anyone not sharing their worldview.

In the article below you'll find a great example of the same willful ignorance in the face of obvious dangers to the US Dollar and the very existence of our republic.

The article is short, but you'll find it replete with insults, mockery, and accusations of racism against anyone who hasn't drunk the Liberal KOOL-AID!

Have a nice day!

My comment is IN BOLD at the end.

(Following article by "Dick Destiny" aka George Smith)


Fiat money, Zimbabwe, Weimar = code

Posted in Extremism, Phlogiston at 9:00 am by George Smith
Quote of the day, from the Economist, referring a Paul Ryan claim about examples of old hyperinflated currencies being handed out:
And then finally, Mr Ryan said, America needs sound money. He told stories of traveling around Wisconsin and being handed pieces of currency from Weimar Germany and Zimbabwe, he remarked on how nothing was more insidious than inflation …
It’s rotten ol’ Tea Party fruit, the crop from years of Fox News’ hourly gold bug commercials, Glenn Beck and parades of experts. One in particular, whose name I forget, was fond of showing an example of some astronomically numbered Zimbabwe note.
He had turned it into a souvenir business.
The phrase “fiat money” is more code for the same thing. Here, a sample from Google — it’s all Ron Paul, goldbuggery, catastrophe, conspiracy and fear & loathing associated with quantitative easing. Another example, as if you needed one, of how Google results can easily be bombed into trash by the practices and world beliefs of a relatively small social class. (An it’s also an example of what story one uses to persuade people who aren’t such hot thinkers to vote for tax cuts for the super-rich and elimination of social programs and public school education.)
All Tea Party articles of faith, now firmly passed into the realm of fears associated with a life driven by superstitions. And it’s exclusively a baseball-capped or blobby disgraceful white man’s disease.
If you run across people like this — and I see the house of one of ‘em everyday when I cross the el Molino Street bridge on the way to Rick’s at lunch, a place with a big lawn sign advertising some kook AM radio host — it is best to cross to the opposite side of the street.
How do I know this? By-product of census work.
An even money bet is that the people who buy souvenir Weimar marks and Zimbabwe dollars also have Confederate and Gadsden flags to fly, too.
More code: Fair Tax, abolition of IRS, Bretton Woods, questions re “What do you think about a consumption tax?”

1 Comment »

  1. Rick said,
    May 11, 2011 at 4:39 pm
    Guess what the US Dollar, the ZIM Dollar, and Weimar marks have in common? Everything!
    Oh, wait. Unlike Zimbabwe and Weimar Germany, the USA has a balanced budget, no debt, and responsible politicians who don’t spend more for entitlement programs than we net in taxes.
    Never mind, our FIAT DOLLAR is safe!

Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):


Tuesday, May 10, 2011

Seeking Opportunity with Top Notch Coin Dealer!

Date: 7/1/2013
To: Numismatic and Precious Metal Bullion Dealer
From: Rick Pyle
Re: Sales and Management Opportunity

My specialty is to create new successful divisions or revamp ones bleeding red in need of retooling! 100% successful history!

I am currently looking for a sales or sales management opportunity with a top numismatic and bullion dealer. I have over 25 years of sales and sales management experience (see attached resume) in industry, and have successfully bought / sold gold & silver coins and bullion for the last two years. I have used my growing blog SurvivalUS and my Youtube Channel to help promote my internet-based sales effort.

My sales and management philosophy is based on integrity and complete honesty when dealing with all prospective and present customers. I deeply believe that gold and silver investments properly custom-tailored to each customer, remains the single best response to the ever-growing debt and failing fiat currencies of the US and Europe .

When you have an opportunity, please review my blog and Youtube Channel to get an idea as to my sales approach and knowledge concerning the ever-changing numismatic and bullion markets.
I currently live in the Philadelphia, PA area. I was looking for an opportunity in the area, or one that was internet-based that would allow me to work remotely. If this works for you, please advise by email to discuss my possible employment.



Rick Pyle

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Sunday, May 8, 2011

Is The Silver Sky Falling?

The spot price of silver took a bit of a tumble recently, sending silver-futures prices down to $35.28 an ounce from nearly $50 in just five trading days. The prime culprit was the COMEX, which increased its margin requirements 84% during the week. Margin calls came in fast and furious, forcing many small speculators to sell their positions to cover. The COMEX (sometimes called the CRIMEX), claims the increased margin requirements were instituted to decrease the "volatility" in silver futures trading. Others say it was a last ditch attempt by the troubled trading entity to avoid default, due to woefully inadequate silver reserves on hand to cover paper positions.

No matter what you chose to believe the question still remains: Is the silver sky falling?

Firstly, the bullish long-term financials of silver have NOT changed. See Why You Must Buy Silver Now!

Secondly, the paper spot price of silver may have been manipulated downwards, but physical silver is already recovering. I've seen rolls of silver eagles and junk silver recently selling on eBay for as much as 20% above the current spot price. I like eBay because it illustrates what the "real market" price is for silver coins, bullion, etc. The banksters can manipulate the paper spot price with a variety of shady tactics, including raising margin requirements, but the thousands of small auctions happening everyday on eBay are beyond their powers (or even notice). In addition, huge internet sellers like APMEX are not only out of silver eagles until May 13th, but they're charging (and getting) a $5.29 premium on each eagle they sell. All indications are that any physical seller that actually tried to sell close to spot would probably be out of stock in a matter of hours.

Lastly, trust in your physical silver. Continue to buy on the pullbacks. Check out the latest "silver bears" video­=u9LcKcXpCDE for some interesting insight into the insider manipulations behind the present price drop. WARNING: The bears work blue. If strong language bothers you, beware.

My opinion? The Silver Sky is NOT Falling!


Time is running out fast! Hyperinflation seems unavoidable as fiat paper money is being printed as fast as the US presses can run. To protect your wealth and your family, buy gold and silver now from these top companies (below):