Tuesday, April 29, 2008

Investing in Silver

Yesterday I started working on the silver buttons I am making from old damaged silver dimes. I thought of the idea after reading the discussion forums from Peak Oil group. As our economy takes a nose dive because of the Peak Oil situation many of us are preparing for the worst case scenario: the collapse of the economy and the value of the dollar. Silver is increasing in value as the dollar plummets! I have the Peak Oil website in the favorites (to the right of this column). I am still not able to highlight and drop a link from this laptop. So you will be looking for http://lifeaftertheoilcrash.net. These dimes will become common buttons that can be concealed in the event that money becomes scarce and needs to be hidden from desperado's and thieves.
I purchased these damaged silver dimes on Ebay. I smoothed off the "tails" side of 5 coins yesterday just to see how much work was involved. Today I will attach a loop on the back. 10 old silver dimes weighs .8 of an oz. It takes about 10 buttons for a standard flannel shirt, counting the sleeves. These will tarnish over time and can easily replace plastic buttons that will have little worth. I domed them slightly, and I left FDR on the underside for easy proof that the dimes match the dates when dimes were silver. As Silver climbs in value, so does the value of old damaged dimes.Posted by Picasa