Anyone buying silver?

elderboy02 · 06-05-2011, 08:22 PM

Is anyone else investing in silver? I bought my first 6 ounces yesterday. Anyone else see this as a good investment?

smitdavi · 06-06-2011, 05:30 AM

Quote:

Originally Posted by elderboy02

Is anyone else investing in silver? I bought my first 6 ounces yesterday. Anyone else see this as a good investment?

I personally haven't, but I know some investors that have sold off all of their precious metals.

Eleven · 06-06-2011, 06:13 AM

Depending on how much of a premium you paid, it's not a bad investment. Did you look at the trends lately? Silver has come down a little, it was pushing $50 at the beginning of the year.

Now if you'd bought 5 years ago, we'd know you were a genius!

Gold is where I think it's at, but of course $1500 vs. $35 is a big difference.

Apoco · 06-06-2011, 06:44 AM

It is a good hedge against the dollar/euro race to the bottom. As part of a diversified portfolio, it is important to own some tangible goods such as precious metals.
Posted via Mobile Device

elderboy02 · 06-06-2011, 06:48 AM

Quote:

Originally Posted by Eleven

Depending on how much of a premium you paid, it's not a bad investment. Did you look at the trends lately? Silver has come down a little, it was pushing $50 at the beginning of the year.
...

Yeah, I know it was around $50 earlier. I am buying silver on the hope that it goes somewhere in the $40 range at least.

I paid around $39/oz. this weekend.

wayner123 · 06-06-2011, 07:02 AM

I have been investing in silver for years now. I also have invested in coins too. To buy silver now is not the best idea, as the price is so high. But if it's something you enjoy, then go for it. At 6 ounces you aren't going to be a millionaire, but you aren't going to break the bank either.

mosesbotbol · 06-06-2011, 07:25 AM

Are you buying silver bars? Any pictures?

elderboy02 · 06-06-2011, 07:30 AM

Quote:

Originally Posted by mosesbotbol

Are you buying silver bars? Any pictures?

Yeah. I got 4 1oz bars that say Smith & Wesson with pictures of guns on them. I am totally new to silver, so when I went to the coin shop, I was thrilled to see guns on silver. I bought all 4 of them. I also got coin that has an angel and says A Christmas Wish 1998 on it. I also bought a coin that has an Eagle on the Front and Liberty on the back. I am keeping a spreadsheet that has the price I paid for everything so I can keep track of all that.

I did take some pictures before I put them in the safe deposit box and I will post them later on.

wayner123 · 06-06-2011, 07:49 AM

Stagecoach silver is another interesting coin/bar. If the dollar does tank to nil, then you can break off 1/4 size pieces of the stagecoach. It's a gimmick, but a fun looking one.

elderboy02 · 06-06-2011, 09:07 AM

Quote:

Originally Posted by wayner123

Stagecoach silver is another interesting coin/bar. If the dollar does tank to nil, then you can break off 1/4 size pieces of the stagecoach. It's a gimmick, but a fun looking one.

I just saw that. It looks pretty sweet!

Mugen910 · 06-06-2011, 09:29 AM

Where do you buy silver? Also, where do you end up selling silver?

elderboy02 · 06-06-2011, 09:38 AM

Quote:

Originally Posted by Mugen910

Where do you buy silver? Also, where do you end up selling silver?

One store I went to is a coin dealer. I think they are kind of like a pawn shop in a way because he had other collectibles as well. The other dealer I went to sells coins and baseball cards.

I would just google coin shops in google and it should find stores based on your location. These types of shops are opening up all over the place due to the prices of metals.

One other shop I visited said they had the pure silver that I was looking for, but they weren't taking it out of their safe until silver hits above $40/oz because they bought a ton of it at or above that price.

mosesbotbol · 06-06-2011, 09:45 AM

Although not silver, the Credit Suisse gold ingots are really cool. An one ounce ingot on a gold chain is player.

Eleven · 06-06-2011, 09:46 AM

Quote:

Originally Posted by Mugen910

Where do you buy silver? Also, where do you end up selling silver?

Here is where NOT to sell gold and silver:

Pawn Shop
Jewelry Store
Check Cashing Joint
Yard Sale (Although buying here is great!)
Cash4Gold <---biggest ripoff there is.

wayner123 · 06-06-2011, 10:00 AM

Quote:

Originally Posted by Mugen910

Where do you buy silver? Also, where do you end up selling silver?

You can buy silver a variety of places. There are also premiums for certain silver coins, so be aware of that. If you are looking just for bullion or silver for melt value, coin shows or coin dealers can help you out there. Ebay and yard sales are also great places to buy melt value silver.

As far as selling it goes, it depends on what form of silver you have. Most coin dealers will buy silver for melt value and coin shows again will buy your premium coins and/or melt value silver. You could try putting a reserve on ebay and sell there.

Coinflation.com is a great tool in determining melt value. When you do find a shop that will buy the silver, ask them if they will first buy it for today's melt value. Remember, they are there to make a profit and will usually quote you the lowest price.

themoneycollector · 06-06-2011, 10:08 AM

IMO, I think silver and gold are timebombs and now is the time to sell instead of buy. You could still make money buy & sell in the short run, but the market has pushed up prices way too high. The only people who are going to make some serious money are those who invested 3-5+ years ago. I will be selling my silver collection soon. Due to it's practical purpose, I think silver is better than gold to hold onto longer term.

Quote:

Originally Posted by mosesbotbol

Although not silver, the Credit Suisse gold ingots are really cool. An one ounce ingot on a gold chain is player.

Haha, I remember the rappers wearing them in the 80's.

mosesbotbol · 06-06-2011, 10:59 AM

Quote:

Originally Posted by themoneycollector

IMO, I think silver and gold are timebombs and now is the time to sell instead of buy.

I did too (3 years ago) and made a decent profit at that time. If only I held on... A warn out phrase in investing, but I am happy with what did make. I was told (1.5 years) $1400 would be the breaking point by a financial expert I know. I would be scared making a big move on gold, silver seems safer to me. How about the copper market?

acarr · 06-06-2011, 12:06 PM

Quote:

Originally Posted by Mugen910

Where do you buy silver? Also, where do you end up selling silver?

www.apmex.com

They have some of the best prices anywhere. If you hear an add on the radio or tv for a place you should probably stay away. Those are the most expensive because they have to pay for all that advertising.

elderboy02 · 06-06-2011, 07:08 PM

Quote:

Originally Posted by mosesbotbol

Are you buying silver bars? Any pictures?

Here are the pictures. Everything is 1oz.

elderboy02 · 06-06-2011, 07:08 PM

06-05-2011, 08:22 PM	#1
elderboy02 Lets Go Buckeyes! Join Date: Oct 2008 First Name: Dan Location: Cincinnati, OH Posts: 12,496 Trading: (133)	Anyone buying silver? Is anyone else investing in silver? I bought my first 6 ounces yesterday. Anyone else see this as a good investment?

06-06-2011, 06:13 AM	#3
Eleven Solid As The Sun Join Date: Aug 2009 First Name: Scott Location: SW Ohio Posts: 1,859 Trading: (23)	Re: Anyone buying silver? Depending on how much of a premium you paid, it's not a bad investment. Did you look at the trends lately? Silver has come down a little, it was pushing $50 at the beginning of the year. Now if you'd bought 5 years ago, we'd know you were a genius! Gold is where I think it's at, but of course $1500 vs. $35 is a big difference. __________________ CA: putting the 'man' in bromance since 2008! --markem.

06-06-2011, 06:44 AM	#4
Apoco Nerd with social skills Join Date: May 2010 First Name: Alex Location: Chattanooga, TN Posts: 1,286 Trading: (37)	Re: Anyone buying silver? It is a good hedge against the dollar/euro race to the bottom. As part of a diversified portfolio, it is important to own some tangible goods such as precious metals. Posted via Mobile Device

06-06-2011, 07:02 AM	#6
wayner123 Country Gentleman Join Date: Oct 2008 Location: Deltona, FL Posts: 2,351 Trading: (159)	Re: Anyone buying silver? I have been investing in silver for years now. I also have invested in coins too. To buy silver now is not the best idea, as the price is so high. But if it's something you enjoy, then go for it. At 6 ounces you aren't going to be a millionaire, but you aren't going to break the bank either. __________________ 'It is an honor for a man to keep aloof from strife; But every fool will be quarrelling.'

06-06-2011, 07:25 AM	#7
mosesbotbol That's a Corgi Join Date: Oct 2008 First Name: Moses Location: Boston Posts: 6,171 Trading: (6)	Re: Anyone buying silver? Are you buying silver bars? Any pictures? __________________ Port Wine & Claret \| British Cars \| Welsh Corgi's

06-06-2011, 07:49 AM	#9
wayner123 Country Gentleman Join Date: Oct 2008 Location: Deltona, FL Posts: 2,351 Trading: (159)	Re: Anyone buying silver? Stagecoach silver is another interesting coin/bar. If the dollar does tank to nil, then you can break off 1/4 size pieces of the stagecoach. It's a gimmick, but a fun looking one. __________________ 'It is an honor for a man to keep aloof from strife; But every fool will be quarrelling.'

06-06-2011, 09:29 AM	#11
Mugen910 I <3 Huy Join Date: Oct 2008 First Name: Location Location: First Name Posts: 8,387 Trading: (106)	Re: Anyone buying silver? Where do you buy silver? Also, where do you end up selling silver? __________________ I'm not antisocial, I just think people are stupid.

06-06-2011, 09:45 AM	#13
mosesbotbol That's a Corgi Join Date: Oct 2008 First Name: Moses Location: Boston Posts: 6,171 Trading: (6)	Re: Anyone buying silver? Although not silver, the Credit Suisse gold ingots are really cool. An one ounce ingot on a gold chain is player. __________________ Port Wine & Claret \| British Cars \| Welsh Corgi's

06-06-2011, 07:08 PM	#20
elderboy02 Lets Go Buckeyes! Join Date: Oct 2008 First Name: Dan Location: Cincinnati, OH Posts: 12,496 Trading: (133)	Re: Anyone buying silver?