Try this. Take a 1oz gold coin, show it to somebody who has no idea what PM's are worth, As they look at it tell them what it is worth... Then get a 1oz silver coin and show them, this time ask them to guess what it is worth.. the answers they give are always way higher then the current value, and to me it is a a great indicator of how undervalued silver is. Their jaws usually drop when you eventually tell them what the 1oz silver coin is currently worth , another great indicator of how cheap silver is at the moment, and a great way to spread the word. Funny thing is I would even go as far as saying that the price they usually give is a great indicator of where silver could go, i put it down to the subconscious connection that all humans have with the true value of PMs. Just out of curiosity if anyone does this please post your results below, would be great to see what the average price guessed is. Yes I am a nerd!
Maybe we are all fooled into paying such high prices for gold ? I visited Cairo museum last week and saw the Tutankamun exhibition of gold artifacts. Couldn't recall if the solid gold coffin was 100kg of pure gold. Anyhow I'm sure the Egyptians 5000 years ago didn't put such a high value on the shiny stuff. They even had finger cots made of solid gold to stop evil spirits getting under the finger nails.
Yeh and remember, the reason why we are stacking silver is cause the general public (most of them anyway) shouldn't know what the real value is. Unlike property now (for instance) people know what property is worth by looking at suburb, land and house, with gold and silver , silver in your example people wont know and hence its a better time to invest..... when masses know its time to sell...
100kg pure gold is not terribly much for a pharaoh who got access to untold riches. I doubt the average Egyptian peasants at that time got an ounce of gold. Besides world population 2000 years ago is only a fraction of what it is today.
If you make people think of a high number before they "bid" they will bid a high number. Even when both numbers are unrelated. http://pmstudent.com/whats-that-got-to-do-with-the-price-of-a-cordless-keyboard/
I was just thinking: What colour is Gold = Gold What colour is Silver = Silver What colour is Platinum = Silver What colour is Palladium = Silver What colour is Lead = Silver What colour is Aluminum = Silver The list goes on & on. Apart from Copper, what other metals are so easily distinguished by colour ?
The LCD Tv is a good point. I just found that every time i did this, people would guess a couple of hundred dollars for the oz of silver, they are always shocked when I tell them the real price, and generally agreed that silver is a steal at the current price. I think the more people that get into the silver the better, but yes the day when every numpty is talking silver, i sell! Ps Maybe also my experiment is designed to wake regular folk up to a great investment opportunity.
And after the shock that silver is 'undervalued' and available at a 'great' price, they still dont go and buy silver
Don't forget that some folk wouldn't tell you the time of day if you asked them By that ,I mean we are talking about peoples investment decisions here.Some have an inherit aversion to disclosing where they invest..and why.For some it is just keeping their stock of PM's on the QT. I try to drop the "question " on people whenever the opportunity arises...was shocked and amused to finally learn a few weeks ago that an old friend,who had seemingly taken no notice of PMs had been quietly buying ounces of silver.He won't say how much or give any details. I asked if he was interested in joining Silver Stackers and he thought it was a bad idea.He has no wish to advertise his holdings.. Takes all kinds
I work in a Gold mine, took a 1oz Silver Maple to work and offered it to 40 people at face value of $5, none wanted it, got told i was an idiot for buying Silver coins, got told it was worthless as it was Canadian. Informed if it was U.S, 1oz Silver it would be worth something. Go figure, I sincerely hope the majority of the population are this dumb concerning Silver.
I was grabbing lunch at a local drivethru and couldnt find my cash for a second then when I did i handed it to the lady at the register, I told her I almost had to pay her in silver and she asked what I meant. so I showed her a round and I told her she could have either and she hesitated almost took the fiat 20 then I said it was up to her. and she took round. I told her she made a good trade. I lost about 8 bucks on the deal but It was cool and kinda fun.
That is cool, I often am tempted to offer folks silver as payment, but find it impossible to part with it, once I had to sell a bit to raise some cash and it bloody hurt, i felt sick big time... I felt totally ripped off getting fiat for my silver even though it was slightly above market value... Maybe my experiment is shit... or i have been lucky with the people i have done it with. Either way if people are to blind to see, well it is their loss, just know that one day they will be wishing they had of listened, and for those who are onboard early... enjoy the ride...
If you reversed the experiment and told them the value of silver and then ask them what gold was worth, if the gold value would be a lot lower
I am a electrical contractor and many times the customer asks if I can do the job for less. My reply is... If you pay in real silver I will discount it by 10%. To date had one taker and I was paid in US 90% coins... he had no idea what they were worth. Asked me how many silver quarters it would take.
