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Letter Re: Silver Coins Holding Their Own Against Inflation
Sir;
First, this interesting bit from an article from the Chicago Tribune: Food
Price Inflation Changes How We Shop.
Here are some quotes from the article: "Steadily rising food costs aren't
just causing grocery shoppers to do a double-take at the checkout line -- they're
also changing
the very ways we feed our families.
The worst case of food inflation in nearly 20 years has more Americans giving
up restaurant meals to eat at home. We're buying fewer luxury food items, eating
more leftovers and buying more store brands instead of name-brand items..."
"Record-high energy, corn and wheat prices in the past year have led to
sticker shock in the grocery aisles. At $1.32, the average price of a loaf of
bread
has increased 32 percent since January 2005. In the last year alone, the average
price of carton of eggs has increased almost 50 percent."
.
Now a quick trip to Coinflation.com where
we see that at the current price of silver ($17.38 per ounce, as of today)
a pre-1965 [mint date] 90% silver dime has a melt
value of $1.26.
So it looks like silver is holding it's own against inflation.
The price of a loaf of bread is still close to 10¢, if you're
using "real" money,
that is...
I hope this is of interest, Jim. By the way, I received your novel "Patriots:
Surviving the Coming Collapse" for
my birthday last month. It was great. Thanks, - Jonas
