There was 102.5 million ounces of paper Silver shorting in less than 7 minutes last week but Silver priced increased +3% last week. So Silver will reach $50/ounce this week. http://dangerousmother.com/6bgoldsil.html
I am really wanting to spend about five thousand dollars on silver. However its the first physical silver I have bought, if I were more confident that the bottom wouldn't drop out I woud spend ten thousand. I am not buying to make money but as a prepping investment. Therefore I AM going to buy pre 64' quarters for melt point value if I can find any. Anyone think that's a bad idea? Sadly the ten thousand would be half of my life's savings that is liquid. Total is I have about 150 K in real estate (paid for of course) then I have about 28K in cash on hand, and about 14 K in demand notes owed to me ie I loaned money, earning interest. If this is the wrong forum for this kind of discussion please direct me? I guess the question for this thread is ; Is silver too high today to buy as hedge against inflation or more important as a currency if the crap hits the fan...thanks I dont know the first thing about investing. reva
Today Silver is available at dirt cheap price. Buy it because $50/ounce Silver is guaranteed in short span of time.
I have a lot of experience in the metals market, specifically in silver. I would really not advise buying any right now, but if you are dead set on doing so, the partial silver coins are a good buy (depending on how you think inflation is going to work and how silver prices are going to fluctuate in future). As is, I would advise waiting at least till silver goes below 30, maybe even 25 again before buyin, even if it means waiting a long while. If you buy now when its near 35, your just going to be shooting yourself in the foot for later. Monex is a highly trusted metals seller and one of the big things they do is sell thousand dollar (coin value, not silver value) bags of pre 64 90% silver coins, and cheaper thousand dollar bags of 40% silver half dollars that were minted from 1965 to 1970. http://www.monex.com/ I bought loads of American eagles and Canadian silver maples after the dotcom recession had ended (end of a recession is always the best time to buy rare metals because thats almost always when they bottom out) for under 8$ an ounce. A few months ago Silver hit 48 dollars an ounce and I sold almost all my bullion, making a huge profit margin, in fact a far larger profit margin that what i would have made if i had invested in gold. (gold only doubled in price during this recession, silver more than quadrupled!).
Horse (*)(*)(*)(*). It peaked months ago. Its now just wavering in the mid thirties while the economy gets back on its feet. Noticed how it has not spiked whatsoever since last year?
I thought at one time a few months ago it got up to 70 bucks a oz. I was lied to eh? I just searched and found it hit right at 50 an oz in 81. http://silverprice.org/silver-price-history.html Anyone got a bunch of silver us quarters to sell at melt price? reva
Thanks for the information. Your opinion is what I have been generally hearing since I have been asking. I like to ask a lot of people and get a percentage in my head to buy or not to buy. Basically most have said as you that silver is too volatile right now. I am just afraid of paper money. Land is good and its what I have the most of, however its impossible to barter land or turn it into small amounts of currency if you want to buy a gallon of milk etc ha ha, eh? Well again thanks to every one of you that answered. Time to go to church (ie the mountains and the shooting range for today)... reva
Glad I could help. And I know what you mean. It is nice having something physical to back up the worth of your money. You may just want to wait and see where the prices go for a bit before making a huge decision.
When Gold & Silver price go up +200% in a single year, nobody will invest in stock markets, real estates and money will not be deposited in banks. So financial scammers crash gold & silver price every 4 days so that they do not run out of business. Gold & Silver are the pillars of world economy and hedge against inflation.
Rev: tops, (in any investment/speculation class of assets), are made by folks, (like you), who act on the pure hype ya see posted here, (like the op). Please use some common sense: me friend. Buy long shelf life storable food, simple high quality fire arms, and ammo, (to protect yer food n' family), if ya wanna practical, simple hedge against the debts Obamaprompter n' the dim wit Democrats are now rackin' up. BTW: if ya wanna speculate, (any purchase of precious metals at the current price is a speculation), use instruments that can be traded very quickly and orderly. NOT INVESTMENT ADVICE. Jus' the musings of a hillbilly with only one functional brain cell, yer milage may vary.....
