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Message started by Stimpy - FSO on 04/21/11 at 16:55:42

Title: is anyone into silver here?
Post by Stimpy - FSO on 04/21/11 at 16:55:42

...um, what the heck is going on?

Are the world economies and currencies SO darn weak?
wow, just wow.

silver is about to hit $50 usd/oz. soonish,
it was $10 bucks in 2008 and $17 a year ago.

What are YOU doing??

- Buying
- Selling
- Holding
- or going short?

I'm holding and thinking of getting some more but still
not sure at these obscene prices, BUT it keeps climbing
every single day, what gives?!!

If it passes the historic/symbolic $50 mark this will change
EVERYTHING and after this I will not be surprised to see
$100+ oz. in a year (and $10 gas and milk) sigh.

Title: Re: is anyone into silver here?
Post by Boule’tard on 04/21/11 at 22:35:46

I knew gold and silver were high so I just sold all the bullion coins I had.. just a few ounces of silver and 0.4 oz. of gold.. was shocked to see it come to $2000! :D

I think it is probably a good time to sell, but I have not analyzed the market that much. If the spot prices keep going up.. well, I probably won't be checking that ;) I needed the cash anyway.

Title: Re: is anyone into silver here?
Post by justin_o_guy2 on 04/21/11 at 23:26:26

If I had any $$$, Id buy silver, & If I had a Butt Load O $$$, Id buy silver And gold, I wouldnt buy any paper tho, IF I was buying, Id want to have it in my hot little hands. Id bet thers more Paper ilver out there than there is silver to cover it. IF thats true & IF that ever came out, Then tons of that Paper would be worth nothing, wouldn't it?

Title: Re: is anyone into silver here?
Post by stinger on 04/22/11 at 01:30:20

Every civilization economy is based on gold and silver. always has been and always will. Prices will continue to rise for both. I remember back in the 70's when I got my first job and was saving all my money. My uncle advised me to do like he was doing and buy gold instead of just letting the money set in a bank. I didn't listen to him. Gold was going for $35 a ounce. I just couldn't imagine at that time it would ever go much higher. I never learn!

Title: Re: is anyone into silver here?
Post by Jerry Eichenberger on 04/22/11 at 05:22:35

While spot prices for precious metals have risen dramatically, there are problems for the common person in owning the metals directly.

First is storage and security, and of course, the cost of insuring it. One of my clients, a gazillionair, had his home burglarized about 3 years ago. The thieves actually stole his safe, and he lost about $1 Million in gold bars and coins. The police finally got the guys, but my client only got about 1/2 of the gold back, and he had foolishly let his insurance lapse, so he had no coverage for what was lost. Insurance isn't cheap for precious metals coverage.

Next, like all commodities, you have no gain until you sell it. So if you get joy out of just watching your stash grow in value, great. But you have no money in your pocket until you part with the metals.

In a similar fashion, you have no return on your investment until you sell it. If you keep it for eons, waiting for the next bump upwards, that's great too, but again, you have no return on your investment in any real sense.

The final chapter to my rich client's story is that he learned his lesson and sold the metals themselves, and stayed in the percious metals arena by buying mining stocks of quality mining companies. These stocks fairly well parallel the prices of the metals themselves, but have none of the storage and insurance problems inhereent in owning the metals, and pay a nice dividend while you hold the stocks.

Title: Re: is anyone into silver here?
Post by justin_o_guy2 on 04/22/11 at 06:45:08

All well & good in a healthy economy Jerry, but in an economy headed for the Wiemar Republic inflation,, owning a few ounces of anything, even copper, cant be a bad idea. The stuff isnt realy going up tat much due to speculation & demand. The majority of the price change in the USA is, I think, due to loss of value in the dollar. That other currencies are seeing a similar rise isnt a sign Im wrong, but a sign that those other FIAT currencies are also suffering from inflationary pressures,,
read about the Federal reserve, how it works, read Creature from Jekyll Island. My entire world view changed. Until people actually grasp the mechanisms that are used to steal our walth, we have no ay to stop hats being done. READ that Book..

Title: Re: is anyone into silver here?
Post by Ed L. on 04/22/11 at 17:15:41

Been holding onto some silver coins just as a hedge in case of ultra inflation. Silver/gold and other metals will hold value no matter what while paper money can loose it's value. Never did expect silver's value to jump up to over $45.00 per oz., should of bought some last year when it was around $17.00/oz. I've three or four German coins from 1921 during the killer inflation period. They are made out of pottery because metal cost too much for small coinage back then. Maybe we will see the goverment produce a wooden nickle soon :D.

Title: Re: is anyone into silver here?
Post by Stimpy - FSO on 04/23/11 at 03:41:25

http://www.gold.de/tools/chart/b/silberkurs_historisch_usd.jpg

Title: Re: is anyone into silver here?
Post by Stimpy - FSO on 04/23/11 at 03:44:03

I've three or four German coins from 1921 during
the killer inflation period. They are made out of pottery
because metal cost too much for small coinage back then.

wow, i'll research those, sounds really interesting, rare and expensive.

Title: Re: is anyone into silver here?
Post by Ed L. on 04/23/11 at 17:49:48

The pottery coins really are not worth much, maybe 1 dollar apiece. Germany made a lot of them and they turn up all the time on e-bay. I like them because they are real different from regular currency.

Title: Re: is anyone into silver here?
Post by Boofer on 04/23/11 at 18:31:35

On a related topic. Dave Ramsey committed on Hurricane Katrina. He said the hottest "currency" after Katrina was bottled water and ice. I think, back in the time of the Roman Empire some people worked for salt, hence the term "not worth his salt". I believe my minister brought this up once. Anyway if you look on CL under the barter section it will surprise you what people will trade for. I know you are talking about precious metals, but I thought this was interesting.

Title: Re: is anyone into silver here?
Post by Serowbot on 04/23/11 at 19:32:18

"End of the Worldy stuff" you want junk silver...
No way I'm spending a gold piece on a loaf of bread, or a bag of rice... but maybe a real silver dime or quarter...
I have a few bucks of junk silver stoshed away...
At these rates,... I'm thinkin' a silver dime should be worth about $2 or $3 bucks?.... maybe $5 for a quarter?...

Title: Re: is anyone into silver here?
Post by justin_o_guy2 on 04/23/11 at 20:28:36

http://www.coinflation.com/coins/silver_coin_calculator.html

A guy at a coin shop offered to sell me a 50 cent piece, worn so bad Lady Liberty was a skinny girl, for the Princely sum of $16.00 a week or so ago.. If I had some money, I woulda bought that thing..

Title: Re: is anyone into silver here?
Post by thumperclone on 04/23/11 at 21:08:19

remember when the HUNT brothers tried to corner the silver market???

Title: Re: is anyone into silver here?
Post by Stimpy - FSO on 05/07/11 at 06:23:51

Thanks for the advice JERRY!!!!

I decided to just hold and not buy more for the time being
and look what happened, haha.

http://www.gold.de/tools/chart/b/silberkurs_6monate_usd.jpg

...I think I'll wait till it hits bottom ($18-22dlls?) and then
buy some more as a mid-long term savings instrument.

Title: Re: is anyone into silver here?
Post by houstonbofh on 05/07/11 at 06:39:44

Actually, a good investment if the economy tanks is used motorcycles. Right now, a non-running bike is dirt cheap. If we really go Weimar Republic, economical transportation will be worth more than gold coins.

Title: Re: is anyone into silver here?
Post by Stimpy - FSO on 05/07/11 at 07:49:45

Couldn't agree more with you HOUSTON!

I've already own 2 bikes and i'm already looking around
for a 3rd one ...and maybe a 4th?

...the only problem is that where I live
I still NEED a cage for the winter/snow months, oh vell, L8r.

* Here are some more pics of my bikes:

http://suzukisavage.com/cgi-bin/YaBB.pl?num=1303752341

http://suzukisavage.com/cgi-bin/YaBB.pl?num=1302044958