Buying silver, where to start

Discussion in 'Financial Cents' started by rush81, Feb 3, 2010.


  1. swalt

    swalt Monkey+

    Now is a great time to buy. I started when the price was less than $20 and have bought thru $38. Dollar cost averaging. I expect to see it go WAY higher, but I'm not selling. I will continue to buy more.
     
  2. Where are the best places to keep silver and other precious metals so I can gain easy access to it and at the same time protect it from prying eyes?
     
  3. BTPost

    BTPost Stumpy Old Fart Snow Monkey Moderator

    A deep hole in the back yard, with lots of scrap metal layered on top of it..... .....
     
  4. Gunny Highway

    Gunny Highway Hard Work and Sacrifice blessed by God's Grace

    Is there a way to start leveraging my 403B account or start another 401K and but silver with it ?
     
  5. Kajungizmo

    Kajungizmo Monkey++

    I love this forum. Very good advice on topics I'm not well versed in. Thanks!!
     
  6. TheEconomist

    TheEconomist Creighton Bluejay

    There is, but you cannot really buy a physical good in your 401k or 403b because technically you don't own your 401.403 until you reach retirement age.

    I will tell you to do what I tell everyone to do that is putting a portion of their paycheck away. Put only the maximum that your company will match into your 401.403 After that invest in a precious metal. Right now is an OK price to be putting into it but I think if you wait a few more weeks is going to sink back down into the 20's when it gets there buy as much as you can. Once it hits 40....sell. Then repeat this process. Trust me, silver is cyclical and you are not going to hate this.
     
  7. Seacowboys

    Seacowboys Senior Member Founding Member

    I bought around a hundred of these for a dollar a piece at a Flea market a few years ago. They are mostly Chinese or Japanese. A burglar stole them but dropped a few during their escape and I recovered a half-dozen. Recently, I looked the coins up and found that they are .99 silver. The Dragon coins weigh 314-320 grains each, the yen weighs 299 grains. For reference, a United States uncirculated silver dollar weighs 484 grains. They seem to sell for around $100.00 each to collectors which is substantially more than the PM values.
     
  8. fedorthedog

    fedorthedog Monkey+++

    I had been buying rounds and had not even thought of dimes. Will be great for smaller level trades. Great Idea!
     
  9. Moatengator

    Moatengator Monkey

    I love this forum!!! I am learning sooo much from all of you. I have been buying silver for a couple years now. All 1oz. rounds/bars. I had not ever really thought of buying "junk" silver coins :oops:. I see a trip to the coin dealer this week. Thank you all for all the straight answers & honest opinions!!! You guys all rock!!![respect]
     
  10. Kingfish

    Kingfish Self Reliant

    I have been buying these little gems. Most of the ones I got went for 38 to 42 dollars with free shipping. That is about the going price for silver bullion. These are cool as you can break them into 4 quarters worth about 10 bucks each. Nice for trade. Ebay has tons of them. Only buy from someone with 100% good feedback. Ive got a bunch of these and have had them checked and they are pure silver. KF

    http://rover.ebay.com/rover/1/711-5...0001&campid=5337639227&icep_item=330769847529
     
    Cruisin Sloth likes this.
  11. TheEconomist

    TheEconomist Creighton Bluejay

    Just looking over what is going down on the global markets you should be able to buy it at $28.11-28.14 and oz.

    I am of the opinion that any price below $29 an ounce is a good buy. If you are really confident I would buy all the way up to $33 an ounce. I would NOT buy past that.
     
  12. Kingfish

    Kingfish Self Reliant

    I have got some solid bars for 28 to 30 bucks . The breakable ones go for more. Not sure why maybe its the fact that you can divide them for barter. I paid 38 for the last one. . Silver is projected to hit 300 an ounce.
     
  13. TheEconomist

    TheEconomist Creighton Bluejay

    By who?
     
  14. Kingfish

    Kingfish Self Reliant

    http://www.apmex.com/?keyword=apmex...mpaign=brand - optimized&utm_adgroup=apmex(+)

    I talked with an investment broker at American precious metal exchange. His words quote" Silver is like Gold on steroids" Quote" I would not be surprised to see silver go all the way to 300 an ounce if the dollar crashes"

    So his statement was IF the dollar crashes silver could be worth 300 an ounce. Right now its trading for 28.
     
  15. TheEconomist

    TheEconomist Creighton Bluejay

    I understand. I would be cautions not to overbuy (pay too much) though. Trading silver can cause one to lose hair rather quickly (at least over the past few years). I do not see the dollar collapsing. There are too many countries around the world that back their OWN currency with ours.

    My suggestions is this. Buy at 28, sell at anything over 36, repeat. I would also try to do my buying through coin shops or a place like this:

    http://bullion.nwtmint.com/silver.php


    they only take you for a dollar instead of three.


    Just the opinion of one PMA..
     
    Cruisin Sloth and Kingfish like this.
  16. Hazmat54

    Hazmat54 Monkey+

    Last Friday I paid $29 each for 1 oz silver rounds. Today the same coin shop wanted $29.50. Mostly I am selling off some extra items and buying silver. I just have the feeling that there might be some financial funny business coming up.
     
  17. Kingfish

    Kingfish Self Reliant

    The bottom line is this, as fiat currency devalues precious metals rise in value. Silver has more industrial uses so it kind of depends of how much of it is out there. I dont plan on selling mine. I bought it for one reason. Barter after shtf or more precise as it is hitting the fan. Meaning at the time banks start shutting down and people want real money but before even metal has no value. Long term? an ounce of gold wont be worth a pound of beans. You cant eat gold or silver but those times in the middle when people think short term precious metals will be great trading items. I like the stage coach bars because they are divisible.
     
    TheEconomist likes this.
  18. Kingfish

    Kingfish Self Reliant

    If you are trading silver you are right on the money. Buy low sell high. Lots of guys right now are buying at 28 and putting them on Ebay at 50. Some people buy them. When I bought aqt 38 and 40 they were all going at that price. Lower now so Im getting few more.
     
    VisuTrac likes this.
  19. TheEconomist

    TheEconomist Creighton Bluejay

    NEW YORK (Commodity Online): Silver prices may rise in the second half of 2012 and 2013, according to BNP Paribas S.A. (Euronext: BNP) in a commodity research note. The German bank also revised its average forecasts of $33.50 an ounce for 2012 and $41.70/oz for 2013.

    Anne-Laure Tremblay, precious-metals strategist at BNP stated that,“ the assumption of a further round of monetary stimulus is at the heart of our forecast for a higher silver price, although we do not see it returning to its highs of April 2011.”
    She continued that, BNP economists look for a third round of United States quantitative easing to take place in September, with Federal Reserve Chairman Bernanke signaling further monetary accommodation at the Jackson Hole Fed gathering at the end of August.
    “Were central banks to disappoint(not proceed with QE3), silver’s downside would be very pronounced,” Tremblay added.
    She also noted that, silver as the precious metal most closely correlated with gold, with production costs far below current prices. Fabrication demand has been hurt by a slowdown in economic activity.
    On Thursday, silver for September delivery ended up unchanged at $27.446 per ounce on the Comex division of the New York Mercantile Exchange.
    Banque Nationale de Paris Paribas (BNP Paribas) was the world’s biggest bank, as measured by total assets of $2.670 trillion in 2011 and Eurozone's largest bank by deposits.

    Here is another article for you:

    http://online.wsj.com/article/SB10001424052748703859304576307380172271272.html

    It comes down to this, if you think more QE is needed then get into silver with what you can. It is after all pegged to gold at a 1/50 ration for the most part and allows most investors to get in at some level. If you feel there is going to be some sort of recovery happening without government aid then a silver bet is going to cost you. I think Obama is a shoe-in for re-election and if that is the case we will for sure see more QE happening.
     
  20. TheEconomist

    TheEconomist Creighton Bluejay

    Speaking of the above:

    http://www.federalreserve.gov/newsevents/speech/bernanke20120831a.pdf

    Before you decide to invest in silver please read what Ben Shalom Bernanke just said on the 31st of Aug. 2012

    It is giving us some "forward guidance" as to what is going to happen.

    I have an opinion of the matter but I would like to hear everyone else's after they read this PDF.
     
  1. ED GEiN
  2. Motomom34
  3. oil pan 4
  4. UncleMorgan
  5. oil pan 4
  6. AD1
  7. Yard Dart
  8. CATO
  9. Minuteman
  10. Falcon15
  11. Brokor
  12. melbo
  13. melbo
  14. melbo
  15. melbo
  16. melbo
survivalmonkey SSL seal        survivalmonkey.com warrant canary
17282WuJHksJ9798f34razfKbPATqTq9E7