Best Article on Silver I've Ever Read!!

Discussion in 'Money, Investing & Precious Metals' started by wallstwench, Mar 28, 2011.

  1. wallstwench

    wallstwench Active Member

    31
    0
    This guy has done his homework. I have been buying coins for months now and watching the short futures positions like a hawk. If the owners of silver futures demand physical settlement come May expiration. They will run silver down to $20 and possibly even confiscate it from us in order to pay China. I would LOVE some feedback from this article guys:

    Silver in SPX Selloffs - SilverSeek.com
     
  2. HarleyRider

    HarleyRider Comic Relief Member

    980
    20
    At what point ($ per oz) do you think this will happen? :scratch
     

  3. IrritatedWithUS

    IrritatedWithUS Well-Known Member

    633
    12
    Last edited: Mar 29, 2011
  4. lotsoflead

    lotsoflead Well-Known Member

    837
    7
    There are 2 types of people buying or dealing in silver, one is the person who is in it just for the profit, the super rich, the traders trying to make a fast buck ect.

    then there's the people like me who knows what happened in parts of world 90 yrs ago and is about to happen again right here.People with a little silver could eat for a long period, people with wheel barrels full of money could heat their house for a little while. I know some local people who are selling their silver now for a 50-75% profit just to have the paper money, I could see them selling if they were buying preps,paying off debt or needed the money. but to sell just to brag about the profit they made may come back to bite them shortly. Personally, i'm keeping my silver even if it goes to 500. per ounce,
     
  5. 778008

    778008 Active Member

    26
    0
    Yes, because the higher silver/gold go the worse shape our money and country are. I bought some with the intention of not using the money I had for anything anyway (just a little extra cash) If silver goes up, I have a little put away, if silver goes back down, most likely our country is doing better and the little loss I may have to take won't matter. Nickels are a win win thing to save. No cost to obtain, no market just dollar for dollar. If the our country's currency tanks, at least a nickel has some metal value.
     
  6. Immolatus

    Immolatus Just getting started. Always.

    1,810
    2
    When I originally learned about the nickels, I was pretty psyched. My local coin/metal dealer does not deal with copper, so cant really offer me any decent advice.
    You cannot melt down copper coinage, it is illegal. So in my thinking, and I will try to talk to the actual owner of my local store to get more info (I have only spoken to his daughter, who doesnt have as much experience as the 'old man'), a nickel will only have limited upside, at least in the near term. My understanding is that if the nickel composition changed today, a nickel (coin) would have very limited upside. Even if it was worth double ($.10) its face value, it would take an awful lot of nickels to make any real money. You would need 20,000 nickles to make $1000. While thats a lot better than a "sharp stick in the eye", thats a lot of metal to be luggin around.

    As to the silver article, the possiblility of a silver crash has always had me worried. I have only been buying silver for a few years, but as someone with at least limited investing experience, realize that every boom is followed by a bust. Nothing goes up forever. PMs almost have to crash (or at least correct) at some point. I will see it as a buying opportunity. If silver gets cut in half, I will still be way up on the bulk of my investment.
    3 words.
    Dollar cost average.

    I am still buying, just in smaller quantities for now.
     
    Last edited: Apr 10, 2011
  7. BillM

    BillM BillM

    2,001
    21
    Silver

    Silver hit an all time high tonight in the Asian Market 41.26 per oz
     
  8. wallstwench

    wallstwench Active Member

    31
    0
    Thanks to all that have responded. I am putting together a piece right now that just may bring the Feds to my doorstep this time. I have had a hunch on this one for quite some time, but couldn’t find anyone else out there that was talking about it, so I backed off. Maybe this one is just that scary though.
     
  9. lotsoflead

    lotsoflead Well-Known Member

    837
    7
    Another great investment is pre 82 copper pennies, they're free in your change or you could do like many of us do, get bricks of 25.00 at the bank and sort them. Pennies were 95% copper and 5% zinc til late 82, then they were changed to 97%zinc and 3%copper making them worthless.
    Copper pennies can not be melted as there was a law passed in 2006 putting a ban on it, but eventually as copper keeps going up and copper get more scarce, the ban will be lifted, every 25 dollar brick of pennies is worth 25. face value, but worth over 50. dollars junk value, a great hobby for someone with extra money as in no time you'll have a thousand $$s worth of pennies setting in the basement, they're heavy and need to be on a concrete floor.
     
  10. 778008

    778008 Active Member

    26
    0
    I think the nickel thing is just a hedge against any type of economy. If things are good, just deposit/spend them. If things get bad, you do have a currency with real value. I don't think many are saving more than maybe a $1,000 face and with interest rates so low, a nickel is safe and secure. You realize the silver effect, I was around back in 1963 (7 yr old) and my father saw the silver bug then. Yes there are all kinds of what if stories about keeping the silver from back then, but that is in hindsight. Of course there were many more ways to make more money, but then you need the crystal ball as well. Yes, I have some silver that I have from back in the 1960s and did also buy some this past fall. But, nickels have no real market loss (like silver may have if all goes well and the price comes back down) So, what's the harm in a bet that you can't lose! It doesn't take much to just have a few hundred dollars just in case. I actually am keeping all coins, they ALL have metal content and what's the harm. Anyother investment is a gamble, and while you may make a little more with something else, with coins no loss factor.