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 Playful Hate
Transhuman Polyglot
Registered: 05/15/12
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Loc: 
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 Is now a good time to buy gold and silver? 
#16758797 - 08/30/12 11:13 AM (8 months, 19 days ago) |
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I have about $3k cash to invest. I was thinking about diversifying my portfolio with metals as I don't own any, and the appreciation rate seems solid over the years.
Thoughts?
Thanks!
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Playful Hate
Transhuman Polyglot
Registered: 05/15/12
Posts: 1,040
Loc:
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 Re: Is now a good time to buy gold and silver? [Re: Playful Hate]
#16758841 - 08/30/12 11:23 AM (8 months, 19 days ago) |
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Additionally, when doing so is it wiser to buy coins and various mints, or to buy bars?
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psi
Registered: 09/06/99
Posts: 4,624
Loc: 905 
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Re: Is now a good time to buy gold and silver? [Re: Playful Hate]
#16758944 - 08/30/12 11:47 AM (8 months, 19 days ago) |
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I have not been following prices very closely lately but it sounds like they've come down somewhat. I like 'junk' circulation silver because the premiums can be low and they don't have much collectible value to lose if they're damaged. I would not pay extra for .999 myself, I figure silver is silver. You can also sort silver coins from circulation depending on your area which is fun. $3k in dimes or half dollars would probably net you some silver at face value. Then you return the rejects to another bank and buy more at the original bank.
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Gilgamesh18
Registered: 03/01/12
Posts: 3,836
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16759328 - 08/30/12 01:24 PM (8 months, 19 days ago) |
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I just bought 8 ounces of silver yesterday for 275$. I think with the way the economy is having a tangible precious metal on hand could be very useful. Also even if the economy doesn't fail outright I can always resell if the price climbs even higher which I am pretty sure it will do.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16759572 - 08/30/12 02:21 PM (8 months, 19 days ago) |
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Quote:
psi said:
You can also sort silver coins from circulation depending on your area which is fun. $3k in dimes or half dollars would probably net you some silver at face value. Then you return the rejects to another bank and buy more at the original bank.
You really think so? I would guess that if you bought $3k in dimes you would likely get no silver ones at all.
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psi
Registered: 09/06/99
Posts: 4,624
Loc: 905
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Re: Is now a good time to buy gold and silver? [Re: DieCommie]
#16761467 - 08/30/12 08:08 PM (8 months, 19 days ago) |
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I used to get about 1 per $100 face with dimes but I haven't done it in a while, it may be that there are more people sorting now so worse returns. I have never found a silver quarter in circulation, those get noticed pretty quick I think. I'm convinced that silver coins continuously re-enter circulation though, e.g. old people die and their old pocket change is taken back to the bank. Sorting for silver is pretty quick in the US I hear because you only have to look at the edges.
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Shins
Fun guy
Registered: 09/15/04
Posts: 11,375
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16763166 - 08/31/12 12:26 AM (8 months, 19 days ago) |
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you're a couple weeks late now but the situation is positive for metals.
the fed recently all but admitted QE3 (BAIL OUT #3!!!) is right around the corner so it is a big upside for anything commodity or stock, but especially monetary metals.
the people are about to get fleeced again to feed wall st with inflated numerics.
protect yourself by owning metals, the dollar is likely to take a hit.
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Shins
Fun guy
Registered: 09/15/04
Posts: 11,375
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Re: Is now a good time to buy gold and silver? [Re: Shins]
#16763183 - 08/31/12 12:30 AM (8 months, 19 days ago) |
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also if you're Canadian the bank of Canada has also been talking about a further package stimulus.
I believe the two central banks will coordinate the infldatiin in order to keep dollar parity. I have noticed a pattern with the CND and USD, they seem to be trying to keep the currencies even.
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 ToolTroll
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16776418 - 09/02/12 02:54 PM (8 months, 16 days ago) |
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Quote:
psi said: I would not pay extra for .999 myself, I figure silver is silver.
Yes, but eventually you will want to sell it. Then you have to find someone who thinks the same thing. It's gotta be much easier to sell .999 silver than some random coins.
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"This whole idea that different is bad, that a change in consciousness is in itself harmful, is really one of the fundamental problems inherent in the drug war.” - Rick Doblin
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You vote with your dollars. Everyday. Vote responsibly.
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psi
Registered: 09/06/99
Posts: 4,624
Loc: 905
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Re: Is now a good time to buy gold and silver? [Re: ToolTroll]
#16777141 - 09/02/12 05:28 PM (8 months, 16 days ago) |
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I could see that being true of uncommonly seen silver coins from random other countries, but personally I had no problems unloading Canadian 80% silver when I needed to, a lot of it to Americans.
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DieCommie
El Guapo
Registered: 12/11/03
Posts: 25,374
Loc: Street of Dreams
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16777260 - 09/02/12 05:59 PM (8 months, 16 days ago) |
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I would take it, at ~80% the price of course. Its more durable too, better for mad max living.
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Gilgamesh18
Registered: 03/01/12
Posts: 3,836
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Re: Is now a good time to buy gold and silver? [Re: DieCommie]
#16780493 - 09/03/12 11:04 AM (8 months, 15 days ago) |
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Silver is nearly 32 dollars an ounce with the way things are looking I wouldn't be surprised at 35 dollar ounces sometime in the near future. Maybe hold off on your purchase and wait for the price to drop below 30.
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KEEPYOURAIDSAWAY
Anally.Inclifted.Death.Sentence
Registered: 08/28/08
Posts: 5,050
Loc: new orleans
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Re: Is now a good time to buy gold and silver? [Re: Gilgamesh18]
#16791863 - 09/05/12 12:46 PM (8 months, 13 days ago) |
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just missed that a week ago.
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Big L said:
"if you don't eat your vegetables, Gary pope will trade with you."
Big L(regarding madhatter777) said:
HAHA, he hasn't updated his haircut or clothes since the 6th grade.
He looks so much like a kid, that iwasaclown is going to start saving these pictures on his hard drive.
Hologram said:i wish it was ok to wear diapers in your twenties.
Enlil said:I have no shame about representing child rapists.
ShiVersblood said:
I was raped and I also did have sex with a male they told me too i found him attractive.
SMP said:Cry me a river of wheatgrass juice about it, faggot.
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2sky
a friend of Narnia
Registered: 08/08/07
Posts: 99
Loc: the Dawn
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Re: Is now a good time to buy gold and silver? [Re: Gilgamesh18]
#16854744 - 09/16/12 07:04 AM (8 months, 2 days ago) |
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Quote:
Gilgamesh18 said:
Silver is nearly 32 dollars an ounce with the way things are looking I wouldn't be surprised at 35 dollar ounces sometime in the near future. Maybe hold off on your purchase and wait for the price to drop below 30.
usually, but this might be more like gene wilder's boat ride in willie wanka. 
ed steer, jim sinclair, and harvey organ make nice daily reading; and occasionally trader dan norcini has something interesting to say.
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What you see with your eyes open is your outer sky. What you see with your eyes closed is your inner sky. When you reach Mahamudra, the two become one. - Only One Sky / Rajneesh - (Tantra, the Supreme Understanding / Osho)
Edited by 2sky (09/18/12 06:14 AM)
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Latenightdrunks
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Re: Is now a good time to buy gold and silver? [Re: 2sky]
#16862355 - 09/17/12 03:04 PM (8 months, 1 day ago) |
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Is it even possible to obtain a silver quarter now adays? I can imagine specifically being charged for one, but the chances of finding one in the circulation of a bank is probably ridiculously low?
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psi
Registered: 09/06/99
Posts: 4,624
Loc: 905
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Re: Is now a good time to buy gold and silver? [Re: Latenightdrunks]
#16869682 - 09/18/12 05:54 PM (8 months, 7 hours ago) |
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Google "coin roll hunting", there are a bunch of forums where people are into this stuff. You do hear of people finding silver quarters, but it seems to be rare compared to other denominations. On a couple of occasions I've purchased a box of quarters which is $500 face or 2000 coins, never found a single silver quarter myself. It's a pretty fun hobby generally, the payoff is not amazing usually but you never know when you might really luck out. In Canada only dimes are really worth searching for silver, but in the US people also search half dollars and nickels. There were a few years during WWII when US nickels were made of a silver alloy to conserve strategic metals.
But yeah, there are plenty of silver quarters out there in the hands of collectors and dealers etc. The metal value is something like $6.28 US at this time.
http://www.coinflation.com/unitedstates/
Edited by psi (09/18/12 06:04 PM)
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2sky
a friend of Narnia
Registered: 08/08/07
Posts: 99
Loc: the Dawn
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Re: Is now a good time to buy gold and silver? [Re: psi]
#16874143 - 09/19/12 12:53 PM (7 months, 30 days ago) |
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now read the contract to him, thorin:
to our burglar - or expert treasure hunter if you prefer, ... ... ... ... ... ... ... and funeral expenses if necessary.
EEEEK
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What you see with your eyes open is your outer sky. What you see with your eyes closed is your inner sky. When you reach Mahamudra, the two become one. - Only One Sky / Rajneesh - (Tantra, the Supreme Understanding / Osho)
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vladtepes
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Re: Is now a good time to buy gold and silver? [Re: 2sky]
#16884131 - 09/21/12 02:20 AM (7 months, 28 days ago) |
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The federal reserve is about to do QE3 (quantitative easing 3). Basically they are going to print an insane amount of money to add to the total money in circulation causing the value of the dollar to decrease.
1/100 is a lot more than 1/1000, A dollar is a fraction of the money in circulation so lets say there was 100 billion dollars in circulation, with one dollar you would have 1/100 billion which would be much larger than 1/10,000 billion. Same with pennies, people throw them in the streets, because there is so many of them! One dollar is a fucking hundred of them, thus they are worth shit, (well actually they are worth more but thats another topic).
The total money in circulation is the denominator and your dollar is the the numerator. just as the total tons of silver in circulation is the denominator to what ever fraction of that you might have. The QE3 will increase the denominator of the total dollars in circulation, essentially robbing you by making your dollars much more common. However QE3 will not be increasing the silver denominator as printing money is not mining more silver. So thus as the dollar becomes less, silver does not, so in the future it will take many more dollars to buy an ounce of silver than it does today. Your investment is maintained and you avoid being robbed by inflation.
However because of this fact that the irresponsibility of the FED is catching on people are noticing that gold and silver is more stable than the dollar and they are starting to buy into it causing it to increase in value due to increase in demand causing a decrease in supply...
so thus you have the dollar going down and the precious metals going up. I mention silver so much because its still relatively cheap I think it will be a hot target as its easy for people to invest in still at around 40 dollars an ounce.
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“If the words 'life, liberty, and the pursuit of happiness' don't include the right to experiment with your own consciousness, then the Declaration of Independence isn't worth the hemp it was written on.”
― Terence McKenna
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Stonehenge
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Re: Is now a good time to buy gold and silver? [Re: vladtepes]
#16892385 - 09/22/12 03:47 PM (7 months, 27 days ago) |
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Very true, but i predict there will not be a qe4. How do i know this? Because qe3 is open ended and will likely go on as long as anyone will accept dollars. It has come to this point.
Not only gold and silver but any and all commodities will go up in value provided they are not fiat. They say currencies are commodities but fiat money is play money.
You will not see major inflation until some time after the election. I happen to think real estate is as good as gold in some ways. Its less liquid but they aren't making or mining any more of it. What there is today is all of it.
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“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship.” (attributed to Alexis de Tocqueville political philosopher Circa 1835)
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qman
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Re: Is now a good time to buy gold and silver? [Re: Stonehenge]
#16892843 - 09/22/12 05:26 PM (7 months, 27 days ago) |
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The Fed has done a very dangerous thing with this new QE 3 program, they are buying all the toxic mortgage debt from the banks, at full value. This debt has been marked to market, but in reality this debt might be worth .30 cents on the dollar or even worthless, as there are no buyers of this junk paper.
So as the months go on, the Fed's balance sheet balloons even bigger with worthless mortgage paper. For now the banks that sell their mortgage bonds to the Fed will be the buyers in the treasury market, as we know there are no more buyers in the Treasury market, and we dump over $100 billion per month of new debt.
As some point early next year, the Fed will also be buyers on treasury bonds, cranking the QE even to higher gears. Japan just announced their own QE program last week, the EU will also be announcing an extensive QE program in the coming weeks.
This is a race to the bottom for paper currencies on a global scale, this is unprecedented action the world has never seen. There will be very few winners in the dangerous game of printing money.
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