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Posted: 3/18/2006 9:31:15 PM EDT
I'm thinking about buying some bullion. Anything to the ETF rumors?
Any thoughts?
Link Posted: 3/18/2006 9:32:35 PM EDT
I dont knwo what ETF is, but friend of mine is buying silver 'cause he think dollars are gonna be worthless.
Link Posted: 3/18/2006 9:43:43 PM EDT
[Last Edit: 3/18/2006 9:43:55 PM EDT by azhammer]
I mainly invest in lead.
Link Posted: 3/19/2006 12:31:49 AM EDT
I have a small stash. Probally 100 1 oz coins/bars. And I also I have been buying the kids silver/gold coins of there birth year with any money relatives give them for christmas/birthdays or whatever. So they will have a pretty good stash by the time they grow up too.
Link Posted: 3/19/2006 12:43:57 AM EDT
Why would you want to buy silver at a 22 year high?
Link Posted: 3/19/2006 12:45:44 AM EDT
I bought around 20 morgan dollars, 15 or 20 silver halfs and a bunch (couple full books including key coins and some full tubes) of rare nickels and dimes off a guy this Christmas for $150. It's around $4,500 worth of stuff.

I will buy "scrap gold" whenever I can, but I buy it at $265 an ounce prices regardless of where gold is.

I won't buy stuff and speculate on what it MIGHT be worth tomorrow, but I'll always buy precious metals/coins at a price that will bring a return now.

If shit ever gets so bad that you need to be paying with silver and gold you better be stocked up on ammo, food and water, because that's what you're really going to need.

As a long term investment I think you can get better returns other places. I also have no idea what "ETF" is.
Link Posted: 3/19/2006 1:28:34 AM EDT

Originally Posted By fike:
Why would you want to buy silver at a 22 year high?



Because it might not be at its 50 year high or so.
Link Posted: 3/19/2006 2:40:42 AM EDT

Originally Posted By OFFascist:

Originally Posted By fike:
Why would you want to buy silver at a 22 year high?



Because it might not be at its 50 year high or so.



Even if that was true, it's not going to be on a continual climb for the next 28 years. Even if you look at the years it was really high, you'll see even earlier in the year that prices were way down. In 1987 for example, prices were at about $5.30 in January, February and March.....spiked to $11 in late April, were back down to $6.80 in mid June and spiked a couple more times before leveling out at $6.80 again in December.

The high point for all of 1988 was about $7.80 and never climbed above $6.20 in 1989. Between 1990 and 2000 Silver never peaked higher than $7.85 with nine of those ten years all under $6.30 and mostly a hell of a lot closer to $5.

It never broke $6 from 2000-2003. From 2004 to January of 2006 it never broke $9 and spent the majority (we're talking 70%) of that time under $7.50 or even $6.50.

I'm no expert, but it seems like if you wait you'll be able to buy silver as much as 40% to 50% cheaper just by waiting a few months to a year. Take a look at the last 100 years of silver prices and I think you'll see the valleys are far more than the peaks in silver pricing.

I subscribe to buy low sell high, but maybe I'm just crazy. My opinion, now isn't the time to buy silver....it's the time to sell it. It could go higher, but there's better things to spend your money on. If you want some silver buy it when it drops back down, as it inevitably will.
Link Posted: 3/19/2006 4:25:55 AM EDT
A guy by the name of Ted Butler has some interesting thoughts on silver. Not sure how much hype it is, but it does make logical sense. Try googling for some of his articles.
Link Posted: 3/19/2006 4:27:07 AM EDT
Link Posted: 3/19/2006 4:33:30 AM EDT
[Last Edit: 3/19/2006 4:35:18 AM EDT by mjohn3006]
I own a good number of silver coins. But not really what I would consider and investment worth.

This is the biggest chunk I have though.
10 troy oz bar.

Not really all that much. But the NYC skyline with the WTC in plain view might unfortunantly raise it's value in the future.

Link Posted: 3/19/2006 4:57:48 AM EDT
[Last Edit: 3/19/2006 4:59:20 AM EDT by STRATIOTES]
Get both !

Both gold and silver never change in purchasing power, they remain constant like the weight of a pint of water, only the Federal Reserve Accounting Unit Dollar {FRAUD's} change in purchasing power, FRAUDs are created to lose value so the gov can create more debt before the system collapses.

All money returns to it's intrinsic value, with the FRAUD that would be zero, the ink on the paper actaully makes it worth less than blank paper which still has a use unlike FRAUDs which won't even make good TP or fire starters.

Trade all the FRAUDs you can for real value holding assets, the more liquid the better.
Link Posted: 3/19/2006 5:39:44 AM EDT
0ver 30 years ago I got into a small silver buying habit. Got it for the rediculously low price of $7.25 per troy ounce. Yep, been one heck of a good investment. Factor inflation into the mix and I am glad I didn't bet my future on it. It's worth probalby about 10% of what I paid fo it.

BTW, the worlds largest consumer of silver was Eastman Kodak Comapny. Silver is a key ingredient in making film. With the global decline in film sales, a key need for this metal has greatly decreased.

From a philosophical point of view, I always wondered why shiney metas and crystalsl are thought to be worth so much. In the later half of the 19th century, the most valuable metal in the world was aluminum. That's why it was used to cap the Washingtom Monument.
Link Posted: 3/19/2006 6:40:05 AM EDT
Interesting recent interview with congressman Ron Paul.. Some poeple might think he is wearing a tin hat the way he talks about our paper money value and is outlook on the US economy.

Ron Paul Interview
Link Posted: 3/19/2006 8:05:45 AM EDT
Gold has had its ups and downs but is always worth something when currency fails. Silver on the other hand has had times when it was worthless and nobody wanted it. I would hate to be stuck with too much when those times come around again.
Link Posted: 3/19/2006 8:10:49 AM EDT

Originally Posted By thelastgunslinger:
I dont knwo what ETF is, but friend of mine is buying silver 'cause he think dollars are gonna be worthless.



LOL. Precious metal bugs. Got to love them.

I bought bullion when I was in high school. A couple thousand bucks worth (from my PFD checks every Alaskan gets). Held it for a year or two, took that long for the price to raise $.50 or so, the break-even point where I overcame the dealer's premium above spot on selling and discount on spot buying it back from me.
Link Posted: 3/19/2006 8:22:30 AM EDT
raven: Well since you bought the silver before the price run-up, I would hang on to it to see what happens next. For people buying silver today, the price would have to go up significantly for them to break even.
Link Posted: 3/19/2006 8:24:24 AM EDT
[Last Edit: 3/19/2006 8:26:30 AM EDT by raven]

Originally Posted By warlord:
raven: Well since you bought the silver before the price run-up, I would hang on to it to see what happens next. For people buying silver today, the price would have to go up significantly for them to break even.



I sold it. YEARS ago, like 15 years. The prices were at their nadir, which is why I bought. Like $4.50/oz What's the price now?

$10.33/oz. LOL. Yeah, if only I had held on and tied that money up in fucking silver instead of buying shares of MSFT or just about ANYTHING in the early 1990s.
Link Posted: 3/19/2006 8:38:52 AM EDT

Originally Posted By raven:

Originally Posted By warlord:
raven: Well since you bought the silver before the price run-up, I would hang on to it to see what happens next. For people buying silver today, the price would have to go up significantly for them to break even.



I sold it. YEARS ago, like 15 years. The prices were at their nadir, which is why I bought. Like $4.50/oz What's the price now?

$10.33/oz. LOL. Yeah, if only I had held on and tied that money up in fucking silver instead of buying shares of MSFT or just about ANYTHING in the early 1990s.


It is a good thing you sold it and got into MSFT. My dad, got those funds for my children's college education, he started it out with $1,000 and today it is around $4,000. It went up 4 times, probably could've gotten it higher except that I couldn't control it that much.
Link Posted: 3/19/2006 8:41:25 AM EDT
[Last Edit: 3/19/2006 8:42:04 AM EDT by raven]

Originally Posted By warlord:

Originally Posted By raven:

Originally Posted By warlord:
raven: Well since you bought the silver before the price run-up, I would hang on to it to see what happens next. For people buying silver today, the price would have to go up significantly for them to break even.



I sold it. YEARS ago, like 15 years. The prices were at their nadir, which is why I bought. Like $4.50/oz What's the price now?

$10.33/oz. LOL. Yeah, if only I had held on and tied that money up in fucking silver instead of buying shares of MSFT or just about ANYTHING in the early 1990s.


It is a good thing you sold it and got into MSFT. My dad, got those funds for my children's college education, he started it out with $1,000 and today it is around $4,000. It went up 4 times, probably could've gotten it higher except that I couldn't control it that much.



My cousin was a millionaire by age 25. Worked for Microsoft starting in 1988, bought their shares on the company discount. Lord knows what he's worth today.
Link Posted: 3/19/2006 8:42:03 AM EDT

Originally Posted By fike:
Why would you want to buy silver at a 22 year high?


You buy metals as a hedge against currency changes. Check out gold against the dollar and then against the euro. It has increased against both, but the increase has been much less against the euro. Ditto with silver.
Link Posted: 3/19/2006 8:48:31 AM EDT
Barclay's Silver ETF just finished it's SEC comment period. The Silver Users Association is putting up a big fight against the ETF; but indications are that it will get approved within the next month or so.

An ETF is an Exchange Traded Fund - you can buy silver like a stock, with Barklay's actually holding and storing the metal in their vaults.

Silver is used in a lot more that just film processing - almost every electronic item uses some silver in it. Every year for the last decade more is being used than is being mined. The Federal reserve of silver has been used up (4 billion Troy Oz); and it has to buy on the open market for the American Eagles program each year. The COMEX warehouses are down to 105 Million Ounces - a 2 month supply.

All of the positives above; it's still not something to mortgage the house on - but if it dips down below $8.00 ounce, I will be buying more. Historically prices are wildly unstable - Over $50/OZ in 1979(?) to less than $4 in 2001. If you think Gold will go up due to inflation, world issues, etc - the you should love silver; it will overreact a greater %, but if you hold too long, be prepared to have it sit around your safe for another decade...
Link Posted: 3/19/2006 8:53:34 AM EDT

Originally Posted By hatebreed:
I bought around 20 morgan dollars, 15 or 20 silver halfs and a bunch (couple full books including key coins and some full tubes) of rare nickels and dimes off a guy this Christmas for $150. It's around $4,500 worth of stuff.

I will buy "scrap gold" whenever I can, but I buy it at $265 an ounce prices regardless of where gold is.

I won't buy stuff and speculate on what it MIGHT be worth tomorrow, but I'll always buy precious metals/coins at a price that will bring a return now.

If shit ever gets so bad that you need to be paying with silver and gold you better be stocked up on ammo, food and water, because that's what you're really going to need.

As a long term investment I think you can get better returns other places. I also have no idea what "ETF" is.



This is the right idea here.... buy it when you get a good deal, just like anything else. You wouldnt pay 20% over value for a gun hoping the value would go up, but you would pay 20% under and if the value goes up, you just made MORE money.
Link Posted: 3/21/2006 3:05:57 PM EDT
Looks like the ETF is going through, but no real big change in price. 10.30 to 10.50 might be significant for a big commodity holder but just 20 cents to me.
Link Posted: 3/21/2006 3:38:10 PM EDT

Originally Posted By DoNotTreadOnMe:
Looks like the ETF is going through, but no real big change in price. 10.30 to 10.50 might be significant for a big commodity holder but just 20 cents to me.



I just saw the article before logging on here. A slight/negligible move for a while does not surprise me. The way silver goes through its cycles, it will go up a few cents a day until a threshold point, then shoot too far up (or too far down). I plan on buying into the ETF about a month after it's listed to see what the real reaction is. I have too much physical bullion now; and I'm not selling at this price
Link Posted: 3/21/2006 3:47:52 PM EDT

Originally Posted By mjohn3006:
This is the biggest chunk I have though.
10 troy oz bar.

nullbits.foxxz.net/albums/Mjohn3006/silver.sized.jpg



Those are great! I've got a few similar ones. Do you ever wallow in your bullion like Scrooge McDuck?
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