$29 silver spot price! Time to invest!

[diggummup]

I been investing for over 8 years in silver. You can not hold any silver bars with any emotion. I bought last week 100 ounces of silver 10 10 ounce bars. $2700 bucks Sold it today for $2900 $200 profit. I will be buying up again. Silver is supposely to break out to 40 a ounce by 2nd quarter.

Where you buying and selling them at?

 

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[bigscoop]

I still have some silver I bought when it was at $7.00 but I sold just about all of it when it hit $12.00. Not too long ago I was telling a guy, "Man, if only I had kept it longer." His reply to me was pretty simple, but oh so true. He said, "Never think about the money could have made, that's dangerous. Just keep looking at the money you can make." I think he hit the nail on the head. Silver should be a good up and down - in and out - investment for quite some time to come. Problem is, who has enough risk money right now to make a good buck? Not me. Not right now anyway.

 

[stefen]

Investing in precious metals is not for the weak at heart...

Lets look at silver...it's actual record high was at $49 in 1980 and today its hovering around $30 and change...

Gold too, hit an all time record high in September 2011 at $1920 and today its at $1648...although its projected to be around $2000 in 2012...

The sine wave pattern is very cyclic and the low ebb cannot be predicted with any certainty, nor can the highs...

Many years ago a broker advised me that I needed to set a pre-determined sell price and to never look back. If I couldn't do that then get out of the market.

A person is risking money betting that the market will increase over time...

So if you can't afford the risk, don't buy....Its that simple...

 

[bigscoop]

Investing in precious metals is not for the weak at heart...

Lets look at silver...it's actual record high was at $49 in 1980 and today its hovering around $30 and change...

Gold too, hit an all time record high in September 2011 at $1920 and today its at $1648...although its projected to be around $2000 in 2012...

The sine wave pattern is very cyclic and the low ebb cannot be predicted with any certainty, nor can the highs...

Many years ago a broker advised me that I needed to set a pre-determined sell price and to never look back. If I couldn't do that then get out of the market.

A person is risking money betting that the market will increase over time...

So if you can't afford the risk, don't buy....Its that simple...

Exactly!

 

[diggummup]

So where is the best place to buy 100 oz. silver bars and can they be bought for spot price?

 

[stefen]

So where is the best place to buy 100 oz. silver bars and can they be bought for spot price?

At least buy from a reputable dealer and never from EBay or Craigslist...

Call around and find a local source...better yet, ask local bankers for recommended sources...

Stock brokerages will retain silver stock certificates in your account so in that way you cannot sustain a loss by fire or theft...

(I know a family friend whose teenage daughter stole and sold a very valuable coin collection that had been in the family for 4 generations...for candy and drugs)


So it pays to be a smart investor who is aware of investment protection...

 

[Cleetus]

A good place to start looking is a reputable, long established coin dealer in your town. No one is going to sell for spot price. The person or dealer brokering has to make a small profit. You usually have to pay $1.25-1.50 per ounce over spot price, when buying 10 oz. bars. So that's an extra $15 charge on the spot price of a 10 oz. bar. "Rounds" or non-specific one ounce generic coins are just a hair more. If you buy American or Canadian coins that are 1` 0z. silver (Eagles, Maple Leafs) expect to pay at least $2.00-3.00 an ounce extra over spot. Better to just get rounds or bars, and put the extra $ into more silver. There is always APMEX or KITCO, both reputable bullion dealers and sell silver bars through the mail. They also sell gold and sacks of 90% silver U.S. coins. If you go to their site they have a complete listing of prices and products. Never pay more than their price when buying silver anywhere else.

 

[Cleetus]

From Stephen: Lets look at silver...it's actual record high was at $49 in 1980 and today its hovering around $30 and change......... This year, silver has hit the spot price of 48.48. If it hit a 48.00 high in 1980 dollars, it would equal a $100 an ounce or more in today's (I can't bring my self to say money) Federal Reserve Notes.

 

[heat45]

The only place to find silver at spot price is from private bullion holders within your city. If you want to find 10 and 100 oz bars by NTR Metals for about $1.25 over spot, you can buy online from silvergoldbull.com (they carry 1 oz NTR Metals buffalo rounds for the same premium, so you're better off buying 100 of them). They're BBB approved, guarantee authenticity and only use insured signature required shipping. Their prices always beat Apmex. Right now, Apmex's cheapest generic silver 1 oz round is $34USD and silvergoldbull has better quality ones for $31.71USD.

 

[diggummup]

stefen, Cleetus, heat45, thanks for the replies. Silvergoldbull is looking pretty good.

 

[heat45]

A good thing to do is place local ads with sites like CraigsList or Kijiji, but be sure to only buy highly recognized silver from private people (like Silver Eagles, Silver Maples and other bars, rounds and coins 10 oz and under). You don't want to buy a 100 oz hand poured bar from a private citizen who, for all you know, could have made a chunk of 4140 look like one of those sloppy Johnson Matthey bars. Stay alert and safe out there. Look for key words that mean plated like "100 mils", "clad" or "copy". Don't give out your home phone number, which may be traced easily to come and rob you when you don't answer your phone. If you're buying $1000 of silver, meet in a public place and, if you're allowed, maybe even arrive armed just in case. Keep that safe bolted down, hidden or both.

 

[Ralph of North Jersey]

I started buying 1oz J&M bars back in the early 70's at $4.00 an oz. I made a deal with the guy in the coin shop that after i got 10 1 oz bars he would let me trade in for a 10 oz bar.over time i accumulated 100 oz,s. Paid between $4.00 up to $8.00 at times.did this for about 12 years. 10 oz,s at that time was about $60.00 . Spot was $1.50 an oz. Still have all 100 oz,s l like to watch spot go up and down. Ah the good old days. Should have bought a lot more at the time. WHO KNEW. RALPH

 

[stefen]

Buying from Craigslist is dangerous...extremely ludicrous...

 

[fistfulladirt]

Buying from Craigslist is dangerous...extremely ludicrous...

Only if you are looking to be a victim.

 

[stefen]

Buying from Craigslist is dangerous...extremely ludicrous...

Only if you are looking to be a victim.

There will be those who will do otherwise...

Guess you can't cure stupid

 

[heat45]

I meet up with strangers I met online to buy bullion and jewelery a lot and I've never been attacked or even scared. It's always been in the slums of Detroit or Windsor and I've never had any problems. You may want to meet up armed, like I said before, just in case. On a separate note having nothing to do with the internet, when I was about 17, I was once robbed at gun point on Puritan Ave in Detroit by a clown with a Jennings Bryco model 59 9x19mm and the loaded chamber indicator was sticking out. I called him a few names and told him I'd get him, but knew that if I tried to take action, I'd just end up another tick on the Motor City body count. I've also had my house broken into a few times, had my two week old Buick stolen and lost a gold chain to thieving crackheads. I live next door to a biker club, right by a methadone clinic, where hookers and crack dealers don't even get bothered by local police. My point being that people you can digitally trace from internet interactions are usually less of a threat than the random crazies in your town.

 

[heat45]

I started buying 1oz J&M bars back in the early 70's at $4.00 an oz. I made a deal with the guy in the coin shop that after i got 10 1 oz bars he would let me trade in for a 10 oz bar.over time i accumulated 100 oz,s. Paid between $4.00 up to $8.00 at times.did this for about 12 years. 10 oz,s at that time was about $60.00 . Spot was $1.50 an oz. Still have all 100 oz,s l like to watch spot go up and down. Ah the good old days. Should have bought a lot more at the time. WHO KNEW. RALPH

He would be glad to trade bigger bars for 1 oz bars, because the 1 oz bars hold a higher premium and collector value than any 5, 10, 50 or 100 oz ones.

 

[heat45]

Buying from Craigslist is dangerous...extremely ludicrous...

Only if you are looking to be a victim.

There will be those who will do otherwise...

Guess you can't cure stupid

You could pack a pistol, though I'm told Californians must holster a pistol with no magazine or ammo. Silly government regulations that they wouldn't dare enforce on their police.

 

[fistfulladirt]

I meet up with strangers I met online to buy bullion and jewelery a lot and I've never been attacked or even scared. It's always been in the slums of Detroit or Windsor and I've never had any problems. You may want to meet up armed, like I said before, just in case. On a separate note having nothing to do with the internet, when I was about 17, I was once robbed at gun point on Puritan Ave in Detroit by a clown with a Jennings Bryco model 59 9x19mm and the loaded chamber indicator was sticking out. I called him a few names and told him I'd get him, but knew that if I tried to take action, I'd just end up another tick on the Motor City body count. I've also had my house broken into a few times, had my two week old Buick stolen and lost a gold chain to thieving crackheads. I live next door to a biker club, right by a methadone clinic, where hookers and crack dealers don't even get bothered by local police. My point being that people you can digitally trace from internet interactions are usually less of a threat than the random crazies in your town.

Death Wish! A real modern day Charles Bronson...
Athough, I might suggest changing your avatar

 

[stefen]

There will be those who will do otherwise...
Guess you can't cure stupid

You could pack a pistol, though I'm told Californians must holster a pistol with no magazine or ammo. Silly government regulations that they wouldn't dare enforce on their police.

In California a person cannot carry period...even if there is no ammo, blanks, clip, plug or it's soldered inoperable...only the criminals are armed...