Silver?

[titan14]

Anyone here in to buying, collecting, investing in silver?

Give me your thoughts....

[kb4ns]

I bought a good bit of it years ago at about $6/troy ounce. Sold it all when it hit $12 thinking it probably wouldn't go much higher.

I guess doubling your money isn't "bad", but I could have done much better with a little patience.

[Garufa]

Would make fine bullets for those pesky werewolves.

That's all I have to offer, have never invested in precious metals.

[titan14]

I bought a good bit of it years ago at about $6/troy ounce. Sold it all when it hit $12 thinking it probably wouldn't go much higher.

I guess doubling your money isn't "bad", but I could have done much better with a little patience.

Ouch...but...how do you know what it will do. Damned if you do...damned if you dont.

[kb4ns]

Ouch...but...how do you know what it will do. Damned if you do...damned if you dont.

Exactly. It's gamblin'.

[Guest cruznmore]

I definitely disagree that it is gambling. Basically, precious metals retain value while the underlying currency continues to lose value. It ends up costing more paper dollars to purchase the metal because those paper dollars are worth less.

I don't think you can get wealthy with PMs, but you can definitely protect what wealth you have.

As far as purchasing, I purchase through the Nucleo Exchange on Bullion Direct. Take a look at them, they will have the best buy/sell prices. You have to be patient however as they are not the quickest in the world.

[kb4ns]

I understand inflation, fluctuations, etc. Whether the silver goes up or the dollar goes down, it's gambling as far as I'm concerned. My mortgage payment is due in dollars, not troy ounces.

Edited January 22, 2011 by kb4ns

[Guest Lester Weevils]

I usually buy metals on price dips, and there haven't been many dips lately, so haven't bought any lately. The last time I considered buying some, finally decided, "Hell I'm not gonna buy any silver for $18 an ounce! That's ridiculous!" Doh.

My cunning plan is to hold until the price hits record-low prices, then sell it all.

[G27]

I understand inflation, fluctuations, etc. Whether the silver goes up or the dollar goes down, it's gambling as far as I'm concerned. My mortgage payment is due in dollars, not troy ounces.

Indeed, and it's a common mistake people make.

To repeat - PM's are to protect wealth, not to invest the dollars you need to pay bills. Wealth ≠ what you need to live.

I've invested in a lot of things over the years, one of them being PM's. It's money that I know I won't need in the near future. Should the dollar collapse, for example, those with PM's will be able to protect their wealth against the hyperinflation commonly seen in economic meltdowns.

[Guest db99wj]

I have a small collection of silver half dollars from the late 1800's through 1920's. They are 90% silver from what I've uncovered researching on the interweb. They are worth around $15 to $25 per coin. Will have to take them in one day to get a real person to value them.

[willis68]

I collect the Silver Eagle Dollars, they are 1 troy ounce each, so far I have only 3 different ones but soon I will be obtaining on a pay as you go the complete collection. I do this because I love the coins I am not sure how much they will pay off as an investment but I will pass them down to my children

[VERO1]

I was under the assumption that your wife was in charge of the precious metals investments. Mine has never had any problems at all with collecting!

[FX4F150]

Guys, I have debated keeping and selling my coins and looking around at gold and silver prices makes me think harder about it. I have several books of "silver" coins ranging from liberty head dimes to half dollars and a few silver dollars. While there are many websites on the internet that is hard to trust, i ran across one the other day that looks appealing and maybe you keepers of the coin and look. Silver Coin Melt Values - Coinflation.com (Updated Daily)

If i am looking at this correctly, and i have twice now, several of the liberty heads i have, for example, are worth twice as much in silver than as a coin. The only problem with selling coins as "coins" is that you have to find a buyer that specifically wants that coins. Silver is silver. I don't know....just thoughts!

[titan14]

Guys, I have debated keeping and selling my coins and looking around at gold and silver prices makes me think harder about it. I have several books of "silver" coins ranging from liberty head dimes to half dollars and a few silver dollars. While there are many websites on the internet that is hard to trust, i ran across one the other day that looks appealing and maybe you keepers of the coin and look. Silver Coin Melt Values - Coinflation.com (Updated Daily)

If i am looking at this correctly, and i have twice now, several of the liberty heads i have, for example, are worth twice as much in silver than as a coin. The only problem with selling coins as "coins" is that you have to find a buyer that specifically wants that coins. Silver is silver. I don't know....just thoughts!

Thanks for this link! Very good information.

[Mark@Sea]

Eagles, Morgans, Peace dollars, rounds, a bar or two, Walking Liberties (Prettiest Coin Ever). Buying one or two a payday cuts out my bar money (not entirely a bad thing) and is a reasonable hedge against a weimar scenario. Tinfoil Beanie crazy? Only if you think that the laws of supply and demand somehow don't apply to US currency...

[titan14]

Eagles, Morgans, Peace dollars, rounds, a bar or two, Walking Liberties (Prettiest Coin Ever). Buying one or two a payday cuts out my bar money (not entirely a bad thing) and is a reasonable hedge against a weimar scenario. Tinfoil Beanie crazy? Only if you think that the laws of supply and demand somehow don't apply to US currency...

Definitely NOT crazy...I've bought about 8 ounces since our talk the other day.

Not much...but...it's a start.