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Old 09-21-2015, 04:56 PM   #11 (permalink)
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A 1964 dated silver quarter was worth 14 times face value (melt value), until recently it dropped to about 10 times face value. When minted the silver value was 75% of the face value.
It benefits the govt to under report the inflation rate, kind of the fox guarding the chicken coop syndrome.

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mech

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Old 09-21-2015, 05:23 PM   #12 (permalink)
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I used to have (maybe still do) an oval 'license' plate that says

"collect precious (VW) metal"

It all goes back to Jekyll Island and 1914 (right after the Titanic went down). Here's an inflation calculator that goes back that far:

Inflation Calculator

It offers:
  • Inflation Calculator with U.S. CPI Data
  • Forward Flat Rate Inflation Calculator
  • Backward Flat Rate Inflation Calculator

Quote:
Result

$1 in 1914 has the same purchasing power as $24.23533 in 2015.
The total inflation rate from 1914 to 2015 is 2,323.53315%.
The average inflation rate from 1914 to 2015 is 3.20659%.

Last edited by freebeard; 09-21-2015 at 05:37 PM..
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Old 09-22-2015, 01:46 PM   #13 (permalink)
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Quote:
Originally Posted by Old Mechanic View Post
A 1964 dated silver quarter was worth 14 times face value (melt value), until recently it dropped to about 10 times face value. When minted the silver value was 75% of the face value.
Of course that assumes that the value (and/or price) of silver is constant, which simply isn't the case. Probably a good bit more demand these days, from a larger population wanting silver jewelry & ornaments, industrial uses, &c. Not to mention what happens when people try to corner the market. Well, just have a look: Historical Silver Prices - 100 Year Chart | MacroTrends Going from (inflation adjusted) $107/oz in 1980 to under $6/oz in 2001?
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Old 09-22-2015, 03:23 PM   #14 (permalink)
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Will asteroid mining crash the value of metals, or will it be neutron transmutation?

Einstein’s Lost Hypothesis

Quote:
Once produced, these free neutrons could act as a kind of “philosopher’s stone.” They could, for example, create plutonium atoms from uranium. In fact they could theoretically transmute any element in the universe.

Neutron transmutation could in principle produce precious metals—the wild dream of medieval alchemists. But the cost to do so would be prohibitive. Today, though, a different and more alluring goal beckons: clean energy.
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Old 09-23-2015, 03:54 PM   #15 (permalink)
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Sold! :)

I hope that Bacon serves the new owner well.
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Old 09-23-2015, 05:08 PM   #16 (permalink)
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CONGRATULATIONS !!!!!!!!!!!

At least you don't have a wife telling you it sold too fast and you should have asked for more!

regards
mech
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Old 09-23-2015, 06:36 PM   #17 (permalink)
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Time = money

You can usually trade one for the other. In other words, if you want to sell something quickly, the likely outcome will be a lower sale price than if you take the time to show the item to more buyers and wait for the highest offer.

Same goes for purchasing a vehicle. When you need one quickly due to lack of any other transportation, then you will probably pay more. If you shop for a vehicle over a longer period of time, then you have a much better chance of getting a better price.

As with most things, you get more out when you put more effort in, with the law of diminishing returns in playing into the equation.

As far as pricing a private party vehicle, I usually check KBB, Edmunds, and Clearbook to average the price, and see if there are any outliers. Then I check Craigslist to see what people are listing comparable vehicles for in my region, and then check Ebay to see actual sales prices.

Taking an old and cheap car to the mechanic for an inspection is a waste of time because a laundry list of items that could be in better shape will certainly tally to more than the car is worth. The main thing is that it drives without any noticeable issues, has no concerning visible fluid leaks, and has no CELs or pending codes. An OBDII reader that connects to a smart phone is less than $10, so everyone should have one, and most people either have functioning eyeballs, or know someone that does.

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