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Shop: North Spore Cultivation Supplies   Unfolding Nature Unfolding Nature: Being in the Implicate Order

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investing in silver
    #12718510 -

Whats the best way to do it?

1.buy silver "stock"?

2.buy a bar of silver?

3.buy silver certificates?

Lets talk silver!!

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Re: investing in silver [Re: mastagreen]
    #12719143 -

If you ask me, the best way to do it is taking physical ownership of the silver, what you call "buying bars".

If you live in the USA, the best way to get a position in silver is to buy bags of "junk silver", which is old US currency coins that were minted in silver.

You can find that, for instance, here

Notice how you get 715 ounces at current spot for $13,191.75

If you were to buy 100oz bars 7.15x $1,885.00 would be $13,477.75.

you save $ 286 on the 715 ounces and in addition to that your silver comes in the form of many coins, which are excellent for small fractional sales.

Silver coinage minted by a government mint is as good as Melter/Assayer bars where it comes to liquidity.

I'm bullish on silver. The Chinese government is currently pushing its population to invest in silver, obviously to increase the vnational supply. That should get you thinking.


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Re: investing in silver [Re: Asante]
    #12719716 -

Actually, silver coins are better than silver bars for liquidity. Many places won't buy the bars unless they can drill into them and test them. Too many forgeries and fakes. One question though. When you talk about buying 715 oz silver in coins, do you mean 715 oz of coins? The coins are not pure silver. A 1 oz gold coin weighs more than a troy oz to compensate for the copper or other metal added to it. Silver coins were just currency and not a standard amount of silver.


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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)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: investing in silver [Re: Stonehenge]
    #12719916 -

Quote:
Actually, silver coins are better than silver bars for liquidity. Many places won't buy the bars unless they can drill into them and test them.


Another way in which coinage shines!


Quote:
One question though. When you talk about buying 715 oz silver in coins, do you mean 715 oz of coins? The coins are not pure silver.


Reputable dealers will always calculate the correct weight contained in pure silver, but you must do your own due dilligence because many shifty dealers do not and indeed pass off alloy weight as the weight of silver you buy.

Always check/doublecheck what you are getting into.

Added benefit of coins over bars:

Lets say CRAZY shit happens. $100 an ounce by christmas. Who will take your $10.000 bar? If you ship it, can you insure your shipment for that much?

I'm sure you remember the time when precious metals pulmmeted but nooo, no company had any reserve and they wouldnt take orders. Talk about fraud :mad:


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Omnicyclion.org
personal empowerment for the world

Onehomemission.org
truly make a difference

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Re: investing in silver [Re: Asante]
    #12722624 -

Physical.  buy coins and bars for high liquidity.


I troll thrift stores almost daily on my ay home from work and usually find an oz or 2 of sterling silver jewelery/flatware way under spot price each day.  Sterling jewelery isn't as liquid, but It's not too bad if you sell it in lots or know a good refiner.

I find that as the price of silver goes up, thrift store prices don't follow because the staff are generally clueless when it comes to the price of silver.

Also, yard sales can be a good source if you're lucky.  I've heard of people buying 10+ 0z solid sterling silver serving trays or fork/knife sets etc. at yard sales for a couple bucks!


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http://yourlogicalfallacyis.com/

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Re: investing in silver [Re: mastagreen]
    #12733227 -

I agree with Wiccan ( buy physical) except get coins instead of bars. Much more liquid. There are one ounce silver rounds out there for a good price. I personally own quite a few of those in addition to a good number of 1/2 ounce silver rounds.

I expect a nasty bout with inflation soon and one can use those 1/2 coins for smaller purchases until the present monetary regime gives up the ghost.

Having some "junk" silver is great but don't allot too much of your entire outlays to it. Because you may have a hard time convincing someone of the silver content. That's where silver rounds are better- the silver content is clearly marked in English.

But if you only take one thing away from this it's Buy Physical silver. I seriously doubt there is one ounce of silver for each equivalent unit of paper. In other words, they have oversold the seats in the venue if you get my drift. Some people will be left without a chair. And they won't discover this until the concert has already begun.

Don't let that be you.  :wink:


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“The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.”  -- Rudiger Dornbusch

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Re: investing in silver [Re: zorbman]
    #12817355 -

I've also been thinking about investing in "physical" precious metals. I'm curious though, when browsing thrift stores, yard sales, etc, how does one identify that a piece actually has silver content and isn't just being advertised as such?


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"If ignorance is bliss, THEN KNOCK THE SMILE OFF MY FACE!" - Zach de la Rocha

"Today a young man on acid realized that all matter is merely energy condensed to a slow vibration, that we are all one consciousness experiencing itself subjectively, there is no such thing as death, life is only a dream, and we are the imagination of ourselves. Here's Tom with the weather!" -Bill Hicks-

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Re: investing in silver [Re: Lucid_Euphoria]
    #12818055 -

Just assume everyone is a liar and you will be correct most of the time. If they knew it had silver they would take it down and hock it. Look for trophies and other items people might not realize are silver and think are aluminum or something. Metals dealers i've spoken with want a hefty premium for buying silver coins or bars. If you can buy for silver value you are doing well.


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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)

Trade list http://www.shroomery.org/forums/showflat.php/Number/18047755

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Re: investing in silver [Re: Stonehenge]
    #12818507 -

Precious metals are where it's at. Especially gold!:thumbup:


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Re: investing in silver [Re: Sammy Agar]
    #12818841 -

I've been refining both on my own for a bit now. All my gold and silver come from craigslist trades and old computer equipment.
Just today silver was up to $19.25 and gold was $1262.00


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Re: investing in silver [Re: Shins]
    #12818951 -

Shins said:
Physical.  buy coins and bars for high liquidity.


I troll thrift stores almost daily on my ay home from work and usually find an oz or 2 of sterling silver jewelery/flatware way under spot price each day.  Sterling jewelery isn't as liquid, but It's not too bad if you sell it in lots or know a good refiner.

I find that as the price of silver goes up, thrift store prices don't follow because the staff are generally clueless when it comes to the price of silver.

Also, yard sales can be a good source if you're lucky.  I've heard of people buying 10+ 0z solid sterling silver serving trays or fork/knife sets etc. at yard sales for a couple bucks!


That's a great, yet obvious idea. There's tons of silverware floating around. A few weekends ago, my family went to my great aunt's house to stay for a long weekend. She's in a home now and she likes for the family to use her house for a vacation sort of. Blah, blah. Anyways. I was making a sandwich, so I grabbed a butter knife out of the drawer and was like "hmmmmmmmm". :lol: Man, there must have been 100 pieces of straight up silverware in that drawer. It was hard not to leave with it and replace it with junk! :lol: I had the knife in my hand, feeling it's weight. Started calculating! I couldn't do it.

Edited by Hotnuts (06/28/10 06:12 PM)

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Shop: North Spore Cultivation Supplies   Unfolding Nature Unfolding Nature: Being in the Implicate Order

General Interest > Money Matters
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