Silver investment advice.

[Jayanthonyr]

Ok so ill start by saying Im only 24 and have been collecting silver for a year or two n still trying to learn how the market works. My question comes from my purchase today at my coin shop i been going to for a while now. I purchased a couple of bars and told the guy Im looking to make a substantial purchasevin the coming months. Now i know hes a business man and his way to survive is to sell but as i was leaving he stopped n said "if your really interested in investing in silver, i would recommend getting 1000 ounces by the end of the year and definitely by the time Obama leaves office." I didn't have time to stay n chat with him so i was wondering everyones opion here if he has the rite idea? Does anyone agree/disagree? N explain what Obama leaving office would due for PMs.

Thanks Jay..

 

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[EccentricInTexas]

I would stick with buying it when the price goes down. Its sorta like stock there are lots of things that affect the price. I always say when it comes to invest never bet the bank and only invest what you can afford to loose. My strategy has been to buy silver and gold cheap at garage sales and then either sale it or trade it for pure bars. The past two years stuff has been getting scarce I suspect its due to all the Cash for gold places that have popped up.

 

[cyberdan]

The past two years stuff has been getting scarce I suspect its due to all the Cash for gold places that have popped up.

You are so right.

ALL the gold and silver I have purchased at yardsales in the past several months were little pieces found in the costume jewelry boxes. But hey, I can't complain 50¢ for a $40 gold ring or $1 for some junk and a couple silver bracelets works for me.

 

[Jason in Enid]

Keep in mind that the person who told you to buy $20,000 in silver is the one who is selling it!

PMs are a hedge, not an investment. It's good to have some, but don't spend a penny on it that isn't completely surplus cash after you paid for everything that month.

 

[Jayanthonyr]

Keep in mind that the person who told you to buy $20,000 in silver is the one who is selling it!

PMs are a hedge, not an investment. It's good to have some, but don't spend a penny on it that isn't completely surplus cash after you paid for everything that month.

Absolutely agree there. Its money Im getting that would be going into a savings account anyway.

But can anyone elaborate on his comment about Obama? N y to accumulate as possible this year(besides the fact he is a salesmen n already knows Im buying regardless)

 

[Jason in Enid]

He's just trying to play on fear that obama is wrecking the economy.

 

[SilverFace]

I definitely believe the economic environment is very bullish for pm's in the long term. The fiscal policies of the Federal government and the monetary policies Fed have been destroying our economy and the value of the US dollar throughout the last century. Jay, I strongly advise you and everyone to learn as much as they can as fast as they can about Austrian economics and the ideas of Ludwig von Mises and Murray Rothbard who were the two greatest economists of the twentieth century. Someone like Peter Schiff is one of the best at explaining and articulating real economics and sound money and simplifying the ideas of these great men. Once u understand the fundamentals of real economics you'll understand those basic principals aren't a matter of opinion anymore than are the fundamentals of basic arithmetic or the laws of physics. No matter how many times the Fed and politicians keeps telling us up is down that doesn't make it true.

Unfortunately people are so collectivist by nature that all too often they are incapable and/or unwilling to think for themselves and willing to accept and believe absurd and ridiculous ideas and beliefs from people in positions of power and influence that should be quite evident as nothing but lies, propaganda and complete utter nonsense. One of the main reasons people tend to be so ignorant in the present is because they are so completely ignorant of history.

Anyway, the point is the US dollar is just an illusion of money and completely worthless and only pm's such as gold and silver are real money which possess a real store of value. Interest rates will have to eventually go higher, despite the efforts of the Fed to keep them artificially low, the US dollar will collapse and lose it status as the worlds reserve currency and pm prices will soar. But trying to time this exactly is impossible. All this should have happened long before now but the longer its delayed and postponed the worse (for the overall US economy) it will be. The important thing is understanding the economic fundamentals and being prepared for the inevitable. By doing so u will be one of the few in a position to profit when our economy adjusts to some sort of economic reality.

Good luck and remember its not just knowledge that's important, its accurate knowledge and truth that is so vitally important and essential when it comes to understanding sound money and real economics.

 

[Peyton Manning]

Ok so ill start by saying Im only 24 and have been collecting silver for a year or two n still trying to learn how the market works. My question comes from my purchase today at my coin shop i been going to for a while now. I purchased a couple of bars and told the guy Im looking to make a substantial purchasevin the coming months. Now i know hes a business man and his way to survive is to sell but as i was leaving he stopped n said "if your really interested in investing in silver, i would recommend getting 1000 ounces by the end of the year and definitely by the time Obama leaves office." I didn't have time to stay n chat with him so i was wondering everyones opion here if he has the rite idea? Does anyone agree/disagree? N explain what Obama leaving office would due for PMs.

yeah and if you stop at the local car lot he'll say you should buy now too, as will ANYONE selling anything. you ever run into someone with something to sell who says wait.. may be an honest man

 

[lastleg]

When someone says emphatically that your money is worthless ask if you can have theirs.

 

[TheCoinKid]

Anyway, the point is the US dollar is just an illusion of money and completely worthless and only pm's such as gold and silver are real money which possess a real store of value

.

Completely worthless? The US dollar buys me food, clothing, shelter, transportation, etc... It might not be backed by anything but "the full faith and credit of the US government", as they say, but it certainly isn't worthless.

TCK

 

[Peyton Manning]

true dat, iffn Silverface really thought it was worthless he would send you all his dollars

 

[YumaMarc]

true dat, iffn Silverface really thought it was worthless he would send you all his dollars

I think he meant it has no intrinsic value, nor is it backed by anything else with intrinsic value. It has value only to the point that other people are willing to trade goods and services for it. In a total economic collapse, it's worth no more than toilet paper, probably less.

 

[Peyton Manning]

same as gold and silver

 

[jim4silver]

same as gold and silver

Actually silver and gold do have intrinsic value. Silver's uses in medicine, solar, tech industry, jewelry, etc are many. Gold has some uses as well. Paper notes can be used as toilet paper or as napkins I suppose.

Gold and silver have thousands of years of a track record as being seen as a store of value. Paper non-backed currencies have come and gone over the generations. Gold and silver remain valuable.

Having said that, I think the US dollar is still the "safest" fiat currency in the world-definitely far from worthless. But for how long, who knows?

Just my opinion.

Jim

 

[Dave Rishar]

Everything is worth exactly what everyone else thinks that it's worth. In antiquety, silver and gold were valuable. This was before electronics and such. Silver and gold could not be eaten and did not make good weapons or tools for the most part, but people still seemed to think that they were worth something during a time when things that could be eaten or made into weapons were very much worth having.

Today, silver and gold are still valuable. So is a scrap of paper or a copper-plated zinc slug. It's because people believe that they are all valuable. I'm inclined to trust the track record of the former more than the latter, but it's worth what it's worth. Currency is ultimately a tangible result of labor. Is your labor worth base metals with an assigned worth higher than their scrap value, or a piece of paper, or precious metals, or something else? It's a question of belief and sometimes, one of mass delusions. What is a diamond worth to you, and what is it worth to de Beers? It's worth what people will pay for it, just like everything else, and what they'll pay for it depends on how much they'll have to work for it, and how badly they want it.

 

[jim4silver]

You ever wonder why anti-silver folks like to hang out on PM sites? That's like going to an AA site and talking about the joys of drinking.

Right now the PMs look like crap so it is easy to criticize, but anyone who can understand history will see that in each "real money to fiat money cycle", a society's "money" starts out as "backed", whether by gold, silver, etc. Over time the rulers learn that they can inflate if the "backing" is removed or diluted (just like in ancient Rome- google the denarius and see how it went from 100% silver to less than 1%, right near that time Rome was falling apart).

It will be the sheeple who wind up paying for this last experiment with fiat. It may take another 10 years or maybe 1 year for it to end, no way to tell. Maybe the anti-PM folks here can tell us how $17+ TRILLION in debt is OK and how we will get out of this and retain our wonderful "fiat" buying power?

Just my opinion.

Jim

 

[YumaMarc]

Maybe the anti-PM folks here can tell us how $17+ TRILLION in debt is OK and how we will get out of this and retain our wonderful "fiat" buying power? Just my opinion. Jim

In the back of their mind everyone knows that, but it's real easy to ignore with a welfare check in one hand and an EBT in the other.

 

[SilverFace]

true dat, iffn Silverface really thought it was worthless he would send you all his dollars

No. Since I know all fiat currencies esp. the US dollar have no intrinsic value and are simply an illusion of money I will continue to do what I've been doing for several years-converting as many US dollars as I can into hard assets like PM's which have real intrinsic value and represent a real store of value. I only wish I had started doing this years before I did. Had I have converted my savings and investments out of the inflated US stock market back in 1999-2000 and into real hard assets like gold and silver which have a real store of value I'd be so much better off financially today. But the bull market in PM's still has a long way to go. Eventually our twilight zone spend and consume debt economy and the misconception of real money will have to get back to some sense of reality. When this finally happens most people in this country are going to experience a very unpleasant economic reality. They will finally be forced to realize that most if not all of their saving and investments they have in US dollar denominated assets are worthless while the few of us who accurately understand sound money and basic economics will be adequately rewarded. Its not a matter of if but when.