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PinballWizard
Naive and Gullible as usual

Registered: 03/20/04
Posts: 2,804
Last seen: 9 years, 9 months
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7604243 - 11/06/07 07:33 PM (16 years, 2 months ago) |
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Ok, good. I assumed you thought it was some warning that the economy is terrible, and that American money won't be worth anything, and that the world will explode, etc...
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Silver has passed the $15/oz mark - has it begun? [Re: PinballWizard]
#7604387 - 11/06/07 08:09 PM (16 years, 2 months ago) |
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I stand corrected. In the last few hours gold went up to $833.60 and silver almost busted 16 at $15.92, that's another 1% on gold and 6% on silver in a few hours. Has metal gone mental?
Quote:
Ok, good. I assumed you thought it was some warning that the economy is terrible, and that American money won't be worth anything, and that the world will explode, etc...
You get all that AND profit
-------------------- Omnicyclion.org higher knowledge starts here
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LuNaTiX
Quarterback




Registered: 07/28/03
Posts: 5,142
Last seen: 3 months, 16 days
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7604622 - 11/06/07 08:49 PM (16 years, 2 months ago) |
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Amazing, I want to be on board when if thats what ill happen.
Where is the best place to buy silver? Do all banks have safe deposit boxs for your silver?
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Silver has passed the $15/oz mark - has it begun? [Re: LuNaTiX]
#7604712 - 11/06/07 09:07 PM (16 years, 2 months ago) |
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Heh. I finally convinced my brother to buy silver mining stock a couple years ago. He made a teeny, tiny investment. I advised him him to increase his investment three months ago before the current upswing. He didn't listen.
I have just about given up on on convincing people, WS. When it goes through the roof everyone will know and by then it will be too late.
Such is life.
Market psychology. The smart money is getting on board now or is already on board. Later, ticket holders can charge whatever they like when the masses panic and desperately want on board that train.
There are only so many seat holders.
The train will be leaving the station soon..
-------------------- “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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Cowgold
Bullshit


Registered: 04/04/05
Posts: 12,486
Loc: .
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7604742 - 11/06/07 09:12 PM (16 years, 2 months ago) |
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Invest in Sandridge Energy. The symbol is SD. They had their IPO today.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Silver has passed the $15/oz mark - has it begun? [Re: LuNaTiX]
#7604795 - 11/06/07 09:21 PM (16 years, 2 months ago) |
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Quote:
Where is the best place to buy silver?
Ideally at a local coinshop, offline. Local coinshops sometimes are in the habit of overcharging you though, make sure you are as close to spot price as you can.
To quote a PM I wrote (personal stuff omitted):
Quote:
If you as an American want a good online connection for silver or gold, I hear very good things about your domestic supplier http://apmex.com/ who are said to often sell VERY close to spot. . Please don't take my word on silver but websearch it yourself. There is RISK, so take your responsibility. . If you think of spending about $1.000 on silver, then this might be for you: . http://www.apmex.com/Product/27/100_Face_Value_Bag_of_90_Silver_Coins.aspx . Basically its a bag of old circulated US silver coins (90% pure) Its nothing fancy to look at but it has the distinct advantage of being very cheap per troy ounce (almost spot price) and it comes as a lot of individual coins, which could be ideal in barter-type situations if the US Dollar tanks. Its called "junk silver" in the trade but it's no junk, there's 2.2 kilos of pure silver in there. . If you want shiny stuff, get Canadian Silver Maples. If you want bars, get 6 or so bars of 10oz, so that you can always sell a few and keep the rest. . Remember: this is at your OWN RISK. . Good luck man, may wisdom guide you.
If you're not an American, find a domestic supplier. Every reasonably free nation has a lively accessible precious metals trade. Being close to spot is key at all times. In some nations you can buy from the Mint or from certain banks. This assures you get the real thing.
I wouldn't use ebay to buy, it's hard to get a good deal there and easy to get screwed. I have read the tales of woe of people who bought coins and bars on ebay and who discovered they consisted of lead painted with gold/silver paint. Ouch, that hurts so bad, especially with gold coins at up to $850 a pop.
Things you want:
Canadian Gold Maple - 1/4oz, 1/2oz, 1oz (9999 gold, hard to forge) South African Krugerrand - 1/4oz, 1/2oz, 1oz (cheapest gold coin, durable alloy) 9999 gold bar - 10oz, 1kg, 400oz (cheap, pure, melter-assayer brands only)
US 90% coinage "Junk Silver" (cheapest, lots of coins = barter advantage, available in the US only) Canadian Silver Maple (9999 silver, hard to forge, 20 to a tube) 999 silver bar 10oz, 1kg, 100oz, 1.000oz (cheap, pure, melter-assayer brands only)
Things you don't want:
"rare" "historic" "limited mintage" coins (scr*w those you want metal not a story) Silver Rounds (nobody official guarantees that they are pure, may be hard to sell) Grenaille (granulated gold/silver, cheap but no guarantees) Chinese Gold/Silver Pandas (high premium, beautiful but often fake)
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Do all banks have safe deposit boxs for your silver?
Many banks offer safe deposit box service, get one of decent size if you're a silver bug who's not on a budget.
-------------------- Omnicyclion.org higher knowledge starts here
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7604827 - 11/06/07 09:29 PM (16 years, 2 months ago) |
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First of all, I found my local coin dealer charged a substantial premium over internet dealers. I do live in a small town so your experience may differ.
Apmex is very good, very reliable, and has been my coin supplier of choice up until now.
Junk silver can be very good for a discount.
I think it is important to buy a variety of coins to cover oneself for a variety of conditions. For example, I forsee a day when these coins will be used as money. Therefore, if you live in an english-speaking nation you will want coins with clearly printed (in English) silver content by percentage and total weight in english. This eliminates any misunderstandings.
-------------------- “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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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Silver has passed the $15/oz mark - has it begun? [Re: zorbman]
#7604901 - 11/06/07 09:45 PM (16 years, 2 months ago) |
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Quote:
I have just about given up on on convincing people, WS. When it goes through the roof everyone will know and by then it will be too late.
In a few hours the thread got 233 views, so there is some curiosity there. Since last years Buying Gold thread we can also show 37.5% profit in response to posts. Thats what a savings account yields in a decade.
I'm consistently letting out a thread or two on Precious Metals to those who want to listen. Even if one doesn't invest themselves, people start realistically thinking about their financial future and on a site where many blow 100s of dollars a month on pot and drugs that's a refreshing thought in itself. I let $25.000 go up in smoke myself in the 1990s, if I had been savvy on metals back then instead of stoned memories I could've bought a house off that right now, and by buy I mean zero mortgage from day one.
We got a lot of really intelligent people on board, you're right that for the man in the street it'll all be too late, but Shroomerites deserve to be notified of potential gains, community spirit 'n' stuff 
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The train will be leaving the station soon..
I don't think the ride of rides will depart soon, I think we got a couple of years and there might even be a humongous buy opportunity ($500 gold, $8 silver) before it really takes off.
If I close my eyes and drift off into lala land I can see $1.500 gold and $60 silver (todays dollars) happening in the next decade, not as a sudden spike but as a gradual increase. Spikes can be much higher. What figures are drifting through your head? (todays dollars, before 2017?)
-------------------- Omnicyclion.org higher knowledge starts here
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slime_R
The Good Doctor


Registered: 04/20/02
Posts: 858
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7604957 - 11/06/07 09:57 PM (16 years, 2 months ago) |
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I work at a metal trading company here in the midwest. We mainly trade less precious non-ferrous metals such as copper, zinc, and magnesium, as well as ferrous stuff like steel and iron. Tons of stuff starting to go out to China and India.
I'll ask the traders and advisors tomorrow what they think about silver and will let you guys know what they say.
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Asante
Mage


Registered: 02/06/02
Posts: 86,795
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Re: Silver has passed the $15/oz mark - has it begun? [Re: slime_R]
#7605019 - 11/06/07 10:13 PM (16 years, 2 months ago) |
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Quote:
I'll ask the traders and advisors tomorrow what they think about silver and will let you guys know what they say.
Great, I'd love that!
Know that their opinion is no good whatsoever unless they specifically looked into silver though. Just because you know apples, doesn't make you an expert in oranges 
I'm especially interested in their reasoning for whatever their opinion is.
-------------------- Omnicyclion.org higher knowledge starts here
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DieCommie


Registered: 12/11/03
Posts: 29,258
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Re: Silver has passed the $15/oz mark - has it begun? [Re: adrug]
#7605037 - 11/06/07 10:18 PM (16 years, 2 months ago) |
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Wait, silver is at a high price so its the time to buy?
Maybe Im way off, but I think buy low and sell high makes sense. I think Im gonna sell any silver I have.
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Cowgold
Bullshit


Registered: 04/04/05
Posts: 12,486
Loc: .
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Re: Silver has passed the $15/oz mark - has it begun? [Re: DieCommie]
#7605098 - 11/06/07 10:30 PM (16 years, 2 months ago) |
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SHHHHH! you're spoiling everything.
"Really it's a good investment? Where do I find this silver?"
"It is the best investment around. Lucky for you, I happen to have too much. I can sell you some if you need."
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geokills
∙∙∙∙☼ º¿° ☼∙∙∙∙


Registered: 05/08/01
Posts: 23,417
Loc: city of angels
Last seen: 6 hours, 33 minutes
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Re: Silver has passed the $15/oz mark - has it begun? [Re: badchad]
#7605204 - 11/06/07 11:00 PM (16 years, 2 months ago) |
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Quote:
badchad said: Quick question to the precious metal traders out there: Do you guys physically handle your metals?
Briefly yes - though I am not a precious metals trader, rather an investor. Therefore I don't often handle the gold at all. I have a share of numismatic gold coins (coins which are valued for their rarity, condition and beauty beyond the value of their gold content), kept in a safe deposit box in the city. It has been no trouble, as I only held them in my own possession for a matter of hours between receiving shipment and driving them to the bank in a plain unmarked shoebox. In fact, these gold coins could have easily been held on my person with no need for a separate transport vehicle. Sure there's always the chance you'll get jumped for just the cash in your wallet, but in a good area it would seem a bit paranoid to worry about carrying around concealed gold (or anything for that matter).
To note, had I the choice I would have bought gold bullion, but the numismatic coins that have been granted to me were purchased by my grandmother who wished to have something of even greater rarity than regular ol' 24 carat. If the shit really did hit the fan, the numismatic (collector's) value of the gold I hold would fall much faster than the underlying value of the gold itself. During the interim, while the world economy remains relatively stable, these coins that hold additional collectors value have actually proven to offer a considerable positive upside over their standard gold counterpart.
The gold is kept not to trade, but to preserve value. I also have an equal value of my own assets at work in the stock market, which requires me to take a more active approach to my money management. If you are diligent about investing, stocks can be as good as gold in terms of wealth preservation, so long as the world economy hangs on - which at this point in time, it should.
Since the start of '07, gold is up 28.6%, the S&P 500 index up 7.3%, and my personal portfolio of stocks (diversified between 5 - 8 companies at any given time) is up 30%.
It should also be noted that one of the largest contributing factors to the sudden rise in gold over the last few months has been the rapid decrease in the value of the US dollar. Gold is a hedge against a weakening dollar, and indeed as most commodities are priced in dollars, they will fundametnally react inversely to the movement of the dollar, at least in part. With the dollar at historic lows and gold quite high, it is perhaps not the best time to start a new position in gold... however, there is no telling where things may go and with our incredible national debt and geo-political risks around the globe, there may indeed be quite a stretch left for this precious metal. With a longer-term view, I suppose now is a good a time as any to start a new position.
As with any investment, it would be wise to scale into and out of your position over time. Do not buy all at once, no one is that good!
And to toot my own horn a bit as I'm pretty stoked, but also to show ya'll that stocks can be just as exciting as gold, here's what happened with my portfolio today:
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-------------------- ┼ ··∙ long live the shroomery ∙·· ┼ ...╬π╥ ╥π╬...
Edited by geokills (11/06/07 11:37 PM)
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zorbman
blarrr



Registered: 06/04/04
Posts: 5,952
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7605262 - 11/06/07 11:22 PM (16 years, 2 months ago) |
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Quote:
I don't think the ride of rides will depart soon
I guess it depends on what one means by "soon". I was all aboard the last train in the 80's so our relative time references are probably a bit different.
Anyway, I think it's commendable that you are recommending silver (as I have for the last few years) even though most will not heed the advice.
Also, I think you are underestimating where silver and gold will be in a decade. However, it is best to err on the side of caution when recommending these types of investments.
I have gold at $2,000/oz. and silver at $100/oz within five years.
Adjusted for inflation, this would equal values of both at their eighties peaks. When they hit those marks, look for both to absolutely skyrocket. In markets there are certain mental barriers..and when they are broken anything becomes possible- a herd mentality kicks in. You want to be the one at the turnstile charging admission when that herd comes in!
Historically, there are three legs to a precious metals bull market( we are at the start of the second now) and that event would mark the third, and most explosive leg. That is also the most tricky one by far to manage when you are holding. It takes nerves of steel to not cash out early at those altitudes.
-------------------- “The crisis takes a much longer time coming than you think, and then it happens much faster than you would have thought.” -- Rudiger Dornbusch
Edited by zorbman (11/06/07 11:46 PM)
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Visionary Tools



Registered: 06/23/07
Posts: 7,953
Last seen: 1 year, 7 months
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7605780 - 11/07/07 07:10 AM (16 years, 2 months ago) |
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I will need to get ahold of .999 fine silver wire or ingots for colloidal purposes. Know any good UK wholesalers?
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Visionary Tools]
#7605822 - 11/07/07 07:34 AM (16 years, 2 months ago) |
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i hate that you make all these gold/silver posts wiccan - i always want to get into it but i have nooooooo money
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Silver has passed the $15/oz mark - has it begun? [Re: memes]
#7605826 - 11/07/07 07:37 AM (16 years, 2 months ago) |
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Do you smoke weed? $100 will get you 5 or 6 silver coins.
$100 isn't that much...half an ounce of weed.
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
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trendal
J♠



Registered: 04/17/01
Posts: 20,815
Loc: Ontario, Canada
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Re: Silver has passed the $15/oz mark - has it begun? [Re: zorbman]
#7605828 - 11/07/07 07:39 AM (16 years, 2 months ago) |
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"Crude oil topped $98 a barrel and gold futures rose as high as $848 an ounce Wednesday" http://www.marketwatch.com/news/story/crude-oil-gold-surge-amid/story.aspx?guid=B39EC4CA-E06E-46CD-8FF7-C4E679E10317&dist=SecMostRead
Oil is near $100/barrel...$1.54 left to go.
Gold has gone up over $20 just today! 
Edit: $1.38 now....
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Once, men turned their thinking over to machines in the hope that this would set them free. But that only permitted other men with machines to enslave them.
Edited by trendal (11/07/07 08:31 AM)
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YidakiMan
Stranger


Registered: 09/28/02
Posts: 2,023
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Re: Silver has passed the $15/oz mark - has it begun? [Re: Asante]
#7605918 - 11/07/07 08:27 AM (16 years, 2 months ago) |
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I didn't mean to imply you are swinging markets with gossip, its your advisors that are.
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Cheezit
Feel like aStranger

Registered: 10/19/07
Posts: 843
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Re: Silver has passed the $15/oz mark - has it begun? [Re: trendal]
#7605927 - 11/07/07 08:33 AM (16 years, 2 months ago) |
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Oil always goes up this time of year as I can tell. In the spring/summer it goes to 70 a barrel. It's one of those short term commodities I guess
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