precious metals question - The Firearms Forum

cycloneman · 11-08-2012, 05:51 PM

I am interested in buying silver.

What are your thoughts?

Do you think the adminstration will keep prinitng cash? QEing

Also where to buy? I am looking for actual silver you can hold in your hand. Coins, bars????

jack404 · 11-08-2012, 06:12 PM

how much you want
10 oz bar ? 50 oz ? lots of 2 oz bars??

Gabob · 11-08-2012, 06:22 PM

John
You can't eat silver. Buy ammo or guns instead. Always good for barter, hunting or protection if SHTF

cycloneman · 11-08-2012, 06:23 PM

Quote:

Originally Posted by Gabob

John
You can't eat silver. Buy ammo or guns instead. Always good for barter, hunting or protection if SHTF

sendin you pm

cycloneman · 11-08-2012, 06:28 PM

Quote:

Originally Posted by jack404

how much you want
10 oz bar ? 50 oz ? lots of 2 oz bars??

I know nothing aobut it. Where to go or how to buy. I hear talk about coins that the govt cant get a hold of. I need advise. actually gona pm you too.

GunnyGene · 11-08-2012, 06:38 PM

You should keep in mind that silver prices (and gold for that matter ) are subject to market fluctuations as are all commodities, and are also inflated due to the devaluation of the dollar over the past 20 years or so. It's really not a good investment regardless of what you see on tv.

Road America · 11-08-2012, 08:20 PM

I had quite a bit and sold it - the price is high now. It might go higher or it might drop.
I think it's the time to sell, not buy - but that's just my opinion. It really is gambling.

Appliancedude · 11-08-2012, 08:45 PM

I'd buy lead and copper. They are gonna go through the roof. As soon as they turn their sites on ammo. Think about it. Guns are protected by the 2nd amendment. Ammo is not. Invest in lead and copper.

But I have been wrong before. After all I also thought Romney would win

FreeSovereign · 11-08-2012, 08:47 PM

Lots of advantages to pm's. I'd stick to coinage that is easily recognized. I'd guess we'll be printing for awhile. The tax cuts are going to expire, including unearned income at 3 percent and what ever else they can think of. If you have cash on hand, I'd turn it into something tangible, but easily convertible until interest rates increase. My banker says no change in interest until 2015. Many a slip between the cup and the lip until then.

Tax increase along with devalueing the dollar is a double tax. The economy may be wrecked enough to hold fuel prices down. I haven't been to the parts store lately that someone didn't have to choose between new wiper's or a battery or some such scenario. Not to mention I have actually had folks asking for work, which has not been an occurance in a couple of years. I guess the unemployment has run out. None of which has anything to do with precious metals, but alot to do with the need for something of inherent value.

firefighter1635 · 11-08-2012, 08:55 PM

I've got alot of the small 1 oz. silver coins. Gramma used to give them to us when we were kids on b-days, X-mas, Easter, you name it she handed out silver like it was candy. I always hated it as a kid, you know how kids like toys but now I see how wise she was. As far as where to get raw silver, couldn't help on that but i've been thinking about getting a bit more myself.

johnsxdm · 11-08-2012, 10:13 PM

Rule # 1 - Buy and hold the actual metal, not a paper contract. Rule # 2 - Buy brand names, Engerhard, Johnson Mathey, US american Eagles, Canadian Maple Leafs, pre 1964 US coinage (its 90 percent silver). Rule #3 - Buy in small sizes (1 to 5 oz) It seems that our friends overseas have been doing alot of really good conterfiting of larger size bars. A good web site to check out is "Coinflation.com" . It gives real time values of gold and silver coinage.

cycloneman · 11-08-2012, 10:27 PM

I would prefer bars

what about gold line?

WHSmithIV · 11-08-2012, 10:52 PM

For gold you just buy coin - Krugerands etc. You can get bars also 1 oz. bars. Go to any coin exchange for coin or bars in silver or gold.

medalguy · 11-09-2012, 12:33 AM

Downside of pms is they don't pay any dividend, and you have to sell the principal in order to get any cash. I'd put my money in good solid equities and reap the dividends.

I had quite a stash of gold coins, and when gold went almost to 1900 last year, I sold it all. Note today it's back around 1720.

targetacqmgt · 11-09-2012, 12:44 AM

Quote:

Originally Posted by GunnyGene

You should keep in mind that silver prices (and gold for that matter ) are subject to market fluctuations as are all commodities, and are also inflated due to the devaluation of the dollar over the past 20 years or so. It's really not a good investment regardless of what you see on tv.

Ummmmm. Since Nov 2008 Silver has increased due to whatever factors by 300 percent Gold about 225 percent this according to the metal exchange record,
Yeah gunny not a good investment unless you barter it. One day a very distant day I hope you and my wife and I may get notice that the bank no longer accepts our federal checks because they are NSF and if they do inflation may be so high by the end of the month you can only buy half of what you bought the month before. But with gold you can buy the same IF you had some=no?

targetacqmgt · 11-09-2012, 12:48 AM

Quote:

Originally Posted by medalguy

Downside of pms is they don't pay any dividend, and you have to sell the principal in order to get any cash. I'd put my money in good solid equities and reap the dividends.

I had quite a stash of gold coins, and when gold went almost to 1900 last year, I sold it all. Note today it's back around 1720.

yup but in the LONG run from 2008 up 225 percent It will go up again as long as the treasury keeps borrowing from the PRC and printing paper to pay the interest on the t-bills they are selling to them.

medalguy · 11-09-2012, 01:01 AM

Well that's what the speculators are betting on. I still prefer to have my money working for me and paying me dividends.

Airdale · 11-09-2012, 05:55 AM

Nothing wrong with having some silver and gold on hand. I hold some silver and gold also gold ad silver ETFs. Good hedge against inflation which I fear we will see in spades.

GunnyGene · 11-09-2012, 06:54 AM

Quote:

Originally Posted by targetacqmgt

Ummmmm. Since Nov 2008 Silver has increased due to whatever factors by 300 percent Gold about 225 percent this according to the metal exchange record,
Yeah gunny not a good investment unless you barter it. One day a very distant day I hope you and my wife and I may get notice that the bank no longer accepts our federal checks because they are NSF and if they do inflation may be so high by the end of the month you can only buy half of what you bought the month before. But with gold you can buy the same IF you had some=no?

I have some gold and silver (and precious gems) that I've had for 50years +. Some I panned myself(gold). But I've never gone out and deliberately bought any of the above for portfolio reasons. As for bartering, I have other raw materials and skills for that, which I use regularly for the past 15 years or so.

Salesmen hype this "diversification" business constantly, but never talk about real diversification. It's always some BS about stocks and bonds, never about what you can do with your hands and your brain.

Willie · 11-09-2012, 07:19 AM

Kitco.com is a good site. I bought heavily when silver was around ten and gold at six hundred. Sold silver at forty and gold at seventeen hundred. I feel that train has left the station at today's prices. Was good but to near the top now. Silverseek.com is also a good site. Apmex.com also.

GunnyGene · 11-09-2012, 07:48 AM

As long as we're talking money stuff, it looks like the predictions of a market crash if Obama won are coming true. Today is likely going to be another downer, which would make 3 in a row. Traders sound like they are starting to panic. http://money.cnn.com/

Plinked · 11-09-2012, 07:36 PM

Just sold the last of my 16, 1oz gold rands that I bought way back when for $325ea. As far as silver goes I bought 4, 50+oz bars of the stuff back then to for $5.75oz. I've been told that silver has a better chance of doubling its value then gold does right now so I plan to hold on to it for the next few of years to wait and see....you never know!

millwright · 11-09-2012, 08:25 PM

Quote:

Originally Posted by cycloneman

I am interested in buying silver.

What are your thoughts?

Do you think the adminstration will keep prinitng cash? QEing

Also where to buy? I am looking for actual silver you can hold in your hand. Coins, bars????

CM

Well silver is OK,but I don't think the prospects of a werewolf infestation is likely. IMO, too much of it is lurking in metal miners' vaults. Ask the Hunts.
OTOH, I'd look close at the "rare earth" markets. Super magnets and cache alloys are among the uses for these "fractional metals". Gold and silver have some industrial/consumer use but the recovery rate is high. Gold is still cheaper (in constant dollars) than it was in first Reagan era. >MW

soundguy · 11-09-2012, 08:52 PM

i'd be looking at other precious metals.. like brass, copper and lead...

aandabooks · 11-09-2012, 10:32 PM

Since I lost faith in my IRA, I've been diversifying my expendable in silver, lead, brass and tubular steel.

Since I left my old company I don't have my 401k anymore. It is now in an IRA and my current pension is under the control of the State of Illinois. I'm not super happy about that.

I've been buying silver not for a collapse but as a hedge against inflation. In case of collapse that is what the guns, ammo, food supplies and other supplies are for. Silver would be for wealth after the collapse. I have sold silver at profit to buy guns and sold guns to buy silver.

For the OP, do some research and when you've done some reading only then should you buy. Stick with either ASE bullion or 1964 and earlier American coinage.

11-08-2012, 05:51 PM	#1
cycloneman Advanced Senior Member Join Date: Dec 2008 Location: Louisiana Posts: 7,437	precious metals question I am interested in buying silver. What are your thoughts? Do you think the adminstration will keep prinitng cash? QEing Also where to buy? I am looking for actual silver you can hold in your hand. Coins, bars???? __________________ Who are you going to serve today? -->

11-08-2012, 06:12 PM	#2
jack404 Former Guest Join Date: Jan 2010 Location: Australia Contributor Posts: 17,622	Re: precious metals question how much you want 10 oz bar ? 50 oz ? lots of 2 oz bars??

11-08-2012, 06:38 PM	#6
GunnyGene Advanced Senior Member Join Date: Oct 2012 Posts: 1,962	Re: precious metals question You should keep in mind that silver prices (and gold for that matter ) are subject to market fluctuations as are all commodities, and are also inflated due to the devaluation of the dollar over the past 20 years or so. It's really not a good investment regardless of what you see on tv.

11-08-2012, 08:20 PM	#7
Road America V.I.P. Member Join Date: Jan 2009 Posts: 178	Re: precious metals question I had quite a bit and sold it - the price is high now. It might go higher or it might drop. I think it's the time to sell, not buy - but that's just my opinion. It really is gambling.

11-08-2012, 08:45 PM	#8
Appliancedude Advanced Senior Member Join Date: Jul 2007 Location: The true northern Cal Posts: 1,610	Re: precious metals question I'd buy lead and copper. They are gonna go through the roof. As soon as they turn their sites on ammo. Think about it. Guns are protected by the 2nd amendment. Ammo is not. Invest in lead and copper. But I have been wrong before. After all I also thought Romney would win __________________ It ain't broke it just lacks duct tape. The nice thing about opinions is everybody has one.

11-08-2012, 06:22 PM	#3
Gabob Advanced Senior Member Join Date: Dec 2005 Location: SW GA CSA Posts: 1,162	Re: precious metals question John You can't eat silver. Buy ammo or guns instead. Always good for barter, hunting or protection if SHTF __________________ NRA Endowment Member Keep Your Powder Dry

11-08-2012, 08:47 PM	#9
FreeSovereign V.I.P. Member Join Date: Jul 2012 Posts: 50	Re: precious metals question Lots of advantages to pm's. I'd stick to coinage that is easily recognized. I'd guess we'll be printing for awhile. The tax cuts are going to expire, including unearned income at 3 percent and what ever else they can think of. If you have cash on hand, I'd turn it into something tangible, but easily convertible until interest rates increase. My banker says no change in interest until 2015. Many a slip between the cup and the lip until then. Tax increase along with devalueing the dollar is a double tax. The economy may be wrecked enough to hold fuel prices down. I haven't been to the parts store lately that someone didn't have to choose between new wiper's or a battery or some such scenario. Not to mention I have actually had folks asking for work, which has not been an occurance in a couple of years. I guess the unemployment has run out. None of which has anything to do with precious metals, but alot to do with the need for something of inherent value.

11-08-2012, 08:55 PM	#10
firefighter1635 Advanced Senior Member Join Date: Jan 2012 Location: US of A Contributor Posts: 1,838	Re: precious metals question I've got alot of the small 1 oz. silver coins. Gramma used to give them to us when we were kids on b-days, X-mas, Easter, you name it she handed out silver like it was candy. I always hated it as a kid, you know how kids like toys but now I see how wise she was. As far as where to get raw silver, couldn't help on that but i've been thinking about getting a bit more myself.

11-08-2012, 10:13 PM	#11
johnsxdm Member Join Date: Oct 2012 Location: 45 miles SW of chicago Posts: 44	Re: precious metals question Rule # 1 - Buy and hold the actual metal, not a paper contract. Rule # 2 - Buy brand names, Engerhard, Johnson Mathey, US american Eagles, Canadian Maple Leafs, pre 1964 US coinage (its 90 percent silver). Rule #3 - Buy in small sizes (1 to 5 oz) It seems that our friends overseas have been doing alot of really good conterfiting of larger size bars. A good web site to check out is "Coinflation.com" . It gives real time values of gold and silver coinage.

11-08-2012, 10:27 PM	#12
cycloneman Advanced Senior Member Join Date: Dec 2008 Location: Louisiana Posts: 7,437	Re: precious metals question I would prefer bars what about gold line? __________________ Who are you going to serve today?

11-08-2012, 10:52 PM	#13
WHSmithIV Advanced Senior Member Join Date: May 2012 Location: Moore, Idaho contributor Posts: 2,799	Re: precious metals question For gold you just buy coin - Krugerands etc. You can get bars also 1 oz. bars. Go to any coin exchange for coin or bars in silver or gold.

11-09-2012, 12:33 AM	#14
medalguy Senior Member Join Date: Feb 2009 Posts: 585	Re: precious metals question Downside of pms is they don't pay any dividend, and you have to sell the principal in order to get any cash. I'd put my money in good solid equities and reap the dividends. I had quite a stash of gold coins, and when gold went almost to 1900 last year, I sold it all. Note today it's back around 1720.

11-09-2012, 01:01 AM	#17
medalguy Senior Member Join Date: Feb 2009 Posts: 585	Re: precious metals question Well that's what the speculators are betting on. I still prefer to have my money working for me and paying me dividends.

11-09-2012, 05:55 AM	#18
Airdale Senior Member Join Date: Mar 2009 Location: N.W. Arkansas Contributor Posts: 761	Re: precious metals question Nothing wrong with having some silver and gold on hand. I hold some silver and gold also gold ad silver ETFs. Good hedge against inflation which I fear we will see in spades.

11-09-2012, 07:19 AM	#20
Willie Advanced Senior Member Join Date: Jul 2003 Location: Galveston,TX Contributor Posts: 1,004	Re: precious metals question Kitco.com is a good site. I bought heavily when silver was around ten and gold at six hundred. Sold silver at forty and gold at seventeen hundred. I feel that train has left the station at today's prices. Was good but to near the top now. Silverseek.com is also a good site. Apmex.com also. __________________ Willie West End Electric Galveston Electricians

11-09-2012, 07:48 AM	#21
GunnyGene Advanced Senior Member Join Date: Oct 2012 Posts: 1,962	Re: precious metals question As long as we're talking money stuff, it looks like the predictions of a market crash if Obama won are coming true. Today is likely going to be another downer, which would make 3 in a row. Traders sound like they are starting to panic. http://money.cnn.com/

11-09-2012, 07:36 PM	#22
Plinked V.I.P. Member Join Date: Oct 2011 Location: Georgia Posts: 71	Re: precious metals question Just sold the last of my 16, 1oz gold rands that I bought way back when for $325ea. As far as silver goes I bought 4, 50+oz bars of the stuff back then to for $5.75oz. I've been told that silver has a better chance of doubling its value then gold does right now so I plan to hold on to it for the next few of years to wait and see....you never know!

11-09-2012, 08:52 PM	#24
soundguy Advanced Senior Member Join Date: May 2012 Location: florida Contributor Posts: 4,746	Re: precious metals question i'd be looking at other precious metals.. like brass, copper and lead...

11-09-2012, 10:32 PM	#25
aandabooks V.I.P. Member Join Date: Aug 2010 Posts: 196	Re: precious metals question Since I lost faith in my IRA, I've been diversifying my expendable in silver, lead, brass and tubular steel. Since I left my old company I don't have my 401k anymore. It is now in an IRA and my current pension is under the control of the State of Illinois. I'm not super happy about that. I've been buying silver not for a collapse but as a hedge against inflation. In case of collapse that is what the guns, ammo, food supplies and other supplies are for. Silver would be for wealth after the collapse. I have sold silver at profit to buy guns and sold guns to buy silver. For the OP, do some research and when you've done some reading only then should you buy. Stick with either ASE bullion or 1964 and earlier American coinage.