Buying silver....

Of course if you are getting silver or Gold ETF's please let me know which symbols they are on the market as I have not traded in these thus far and am having difficulty finding these funds.
 
I had a Dream the other day that Gold went down to 720 an ounce and Silver went to 17 an ounce ,In the dream I was so happy and bought some gold/silver only to wake up and Realize "Its only a Dream" HAHAHHAHA!!!!

But serious I could see a big correction like that in the future if the Gold ETF's holders sold Short and many more cash in at Gold at 1200.00 .But even that would only stifle PM for only a bit untill they went on a bull run again due to a buying frenzy at that price LOL!!!!

I think the best strategy is to buy only a few ounce's every week or so because its better to only have bought 10-20 ounces of silver at 20 bucks and gold at 1000 then to have bought say 100 ounce's and that price and then get pissed of at a correction ,atleast buy only having small amounts at high price's you wont feel terrible if you see a correction happen as you would be if you bought 100's or ounce's at todays highs. Have in place a certian $ figure that if it corrects to that price you buy alot at that time ,that way you wont feel burned so bad..

IF you got the money though even buying at todays high's wont hurt you because you have other source's of income . but if your on a strict budget you want to be more cerebrial with your money...


PS aint it pathetic how in the dream I was happy at gold being 720 and silver being 17 an ounce LOL!!! even though when I bought my last silver at 16 an ounce I was whining at how high I paid LOL!!!!!!
 
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just for reference, what would you buy if you had like, say, 25k available
just gold and silver? (small) bars or coins or both?
get some platinum and palladium?
how would you reccomend diversifying or what would you reccomend buying.
 
cien750hp said:
just for reference, what would you buy if you had like, say, 25k available
just gold and silver? (small) bars or coins or both?
get some platinum and palladium?
how would you reccomend diversifying or what would you reccomend buying.
Click to expand...

If I had 25k to invest in metals, I'd personally go with a diverse metals portfolio.
 
mavtek said:
http://www.jlryan.com/main/product.asp?ProdCode=paslv-1ozbar

Those of you in the know this good or bad? Where are you buying from? I can get 500 bars have it shipped for peanuts.
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When I finally started researching it silver was at 14, I piddled around and finally took the dive around 19. I usually started comparing price over spot at http://apmex.com/ They had a wide variety of refiners and you saw some competition. If your looking at getting 500 oz, I'd get a couple 100 oz bars for the simple fact you safe on the price per oz. Keep in mind though that you have to sell the thing all at once so it's a bit more of a commitment.
 
Get to know your local Dealers - Shops and start buying.... Ask what they reccomend and come back to the ones that give you the best deals

Good way to get into collecting and make friends - this is long term wealth accumalation
 
gerryb said:
The correction talk is put out there to make you second guess your decision.

The question you have to ask yourself is this - Would you rather buy at $20 and have it correct down to $18 before it shoots to $200. OR, do you want to wait for a correction that never occurs and miss the boat.

Whats the total risk of not buying now? I don't see it going below $17. Worst case maybe down to $14. There is massive support at $12, and that was before the sheeple were aware of a problem.
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1. Silver is not going to shoot to $200. Don't be ridiculous.

2. The risk is that if he DOES wait and it goes down to 17, that is 15% more ounces that he culd purchase for the same amount of money. then when it goes back up, it is 15% more money that it will be worth in the long term. He is not worried about losing money on the purchase. He is worried about losing EXTRA profits.
 
Hook said:
Too bad you didn't buy in a couple of years ago. :D
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I did....goodbye 401k and hello silver and gold when gold was $450 oz and silver was $5 oz.......best financial move I EVER made.........

You will make MORE in silver over the next 2 years........after that GOLD WILL BE KING.......

Make sure to take advantage of silver now.......and 2-3 years from now understand why it will be time to trade the silver for gold........and when you see it if you understand it....do it......that is how the wise will make the most........
 
buffalokid777 said:
I did....goodbye 401k and hello silver and gold when gold was $450 oz and silver was $5 oz.......best financial move I EVER made.........

You will make MORE in silver over the next 2 years........after that GOLD WILL BE KING.......

Make sure to take advantage of silver now.......and 2-3 years from now understand why it will be time to trade the silver for gold........and when you see it if you understand it....do it......that is how the wise will make the most........
Click to expand...


Nice foresight buffalo - please tell us more
 
I would also agree that buying 100 oz bars sometimes suck because unlike coins you gotta sell all of it even if you really only wanted to sell a quarter of it or half, but if you plan on holding that 100 oz bar forever then go right ahead . If I had 25k to play with I would buy 5-10 grand worth of silver next correction couple coins of gold and other pms and maybe invest a couple thousand dollars in mining companies that you really have done your homework on .

But thats just me and my situation as yours might be totally diffrent, if you have a family to support then best bet right now is to be safe and hedge your money right now to preserve its wealth and use that 25k in some "junk silver" and some gold Maple leaf Coins and with the rest buy yourself some great soil and invest in your very own garden so you can save money on the rising prices of veggies and other foods if you have the climate and the space for a garden of course. If your a single Bachlor then Grab the bulls buy the horns and let err Rip, But like I said all situtions are diffrent for everyone hope I gave you some food for thought..
 
GoPaul08 said:
1. Silver is not going to shoot to $200. Don't be ridiculous.
Click to expand...

really? Do you happen to know where the banks are going to come up with the 400 million ounces that they hold short?

you're right though, measuring it in dollars is useless. I plan to trade in 500oz when I can trade it for a nice house and some land.
 
ghemminger said:
Nice foresight buffalo - please tell us more
Click to expand...

Gold is the BEST store of wealth..........

Silver is ALMOST as good a store of wealth......but not quite.......

Silver is used in the electronics industry making it a commodity that is consumed......

But what happens if NO ONE has the resources to buy electronics?

Silver will tank........

Gold on the other hand is a store of wealth.........

The smart people who choose Gold over silver...........are storing wealth...

The smart people who are choosing silver over gold.....are looking to CREATE wealth.......

As long as we avoid financial meltdown...silver will outperform gold........

But once the financial derivitive meltdown occurs......gold will outperform silver.......

Because once the meltdown occurs....smart money will move to gold.......the consumption of silver will decline as their will be less money to buy things made from silver........

If a depression in the US occurs in the next few years.......the silver market will go down based on decreased demand for silver from the industrial sector as their will be less people and money to buy their products based on the current financial situation.....

Gold will be different as more people transfer paper assets to gold to store wealth.......

That is why until the depression occurs you should buy silver.......

But when you see the depression about to occur in a few months instead of years.....it will be time to liquidate your silver for gold.........
 
buffalokid777 said:
Gold is the BEST store of wealth..........

Silver is ALMOST as good a store of wealth......but not quite.......

Silver is used in the electronics industry making it a commodity that is consumed......

But what happens if NO ONE has the resources to buy electronics?

Silver will tank........

Gold on the other hand is a store of wealth.........

The smart people who choose Gold over silver...........are storing wealth...

The smart people who are choosing silver over gold.....are looking to CREATE wealth.......

As long as we avoid financial meltdown...silver will outperform gold........

But once the financial derivitive meltdown occurs......gold will outperform silver.......

Because once the meltdown occurs....smart money will move to gold.......the consumption of silver will decline as their will be less money to buy things made from silver........

If a depression in the US occurs in the next few years.......the silver market will go down based on decreased demand for silver from the industrial sector as their will be less people and money to buy their products based on the current financial situation.....

Gold will be different as more people transfer paper assets to gold to store wealth.......

That is why until the depression occurs you should buy silver.......

But when you see the depression about to occur in a few months instead of years.....it will be time to liquidate your silver for gold.........
Click to expand...


Thank you for your thoughts this is really appreciated:)
 
Original_Intent said:
I'd get in now, but a good rule to follow if you are planning on accumulating is to buy a certain dollar amount each month, not a certain number of ounces.

If you buy a dollar amount each month, you will buy more ounces in a down time and less at an up time, so your cost/ounce is better than if you just buy a set # of ounces each month.
Click to expand...

Thanks for the advice, I hadn't thought about it like that before! :D

I'm looking for a particular article about the huge short position on silver. This isn't the article I was looking for, but it's interesting nonetheless:
http://www.silverbearcafe.com/private/silveraccident.html

I'll look for the article tomorrow, time to sleep!
 
Original_Intent said:
I'd get in now, but a good rule to follow if you are planning on accumulating is to buy a certain dollar amount each month, not a certain number of ounces.

If you buy a dollar amount each month, you will buy more ounces in a down time and less at an up time, so your cost/ounce is better than if you just buy a set # of ounces each month.
Click to expand...

This is known as dollar cost averaging and it's been proven ineffective. It's also not a good investment strategy for beginner investors in that DCA tends to buy more shares than originally intended.
 
For $25K worth. Buy $10K worth of gold and $15K worth of silver. This is something I'm planing on doing myself. I personally won't wait for a correction, because at the rate the dollar and the markets are deteriorating, I don't think the correction is going to come at this price level. When I was diversifying my wife's pension plan, I was warned about a correction coming at $18, so I held off. It never came. As a matter of fact silver is rising like crazy, $1/week. And it seems to be accelerating. And of course the fed cut rates by $0.25 this weekend, dollar fell sharply, much more then in previous devaluations and its fall is also accelerating. So I won't wait with my purchase. I can stomach a 20% correction if I'm wrong.

Also look at the video (not the article) of Jim Rodgers: http://www.cnbc.com/id/23588079. He's right in line with Peter Schiff and Ron Paul. His investment strategy is agricultural stocks (sugar, wheat, etc.), short financial companies, invest in foreign currency. He didn't mention precious metals, but we know about those.

Some of those are short term strategies, like buying foreign currency. I wouldn't hold any fiat currency for too long, but it is a way to preserve wealth in the short term. You can get any currency from you bank. They lock in a rate at the time of the transaction (at your local branch) and they will have the foreign currency in a few days for you to pick up. Its that easy. You can deposit any currency back into your account at that day's exchange rate for the bank and change then back into dollars.
 
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