OT: Silver

[Uncle Ruckus]

Considering buying what I'd consider a reasonable amount of silver, I just don't know enough about what I'm doing. Someone with a lot of knowledge tell me everything I should know and where I should get it from

 

[patdog]

Investing in gold or silver is, at best, a speculative investment. Transaction costs of buying and holding coins or bars is high. If you're going to do this, I would invest in an exchange traded fund or mutual fund that invests in physical silver to limit the transaction costs.

 

[mstateglfr]

Gold and silver are no more certain an investment than the overall options of funds in a 401K.

They are advertised as having intrinsic value. Someone needs to call Inigo Montoya so he can let those snake oil salesmen know that word does mean what they think it means. There is no intrinsic value in precious metals. The value of those metals exists because there is demand. Said demand is based on desire and will by people. There is nothing intrinsically valuable for either gold of silver. We place a value on both metals.



On a related note...
That whole Goldline push a handful of years by Beck and Hannity et all was just shameful. I like to think that if I had the ear of millions of gullible people, I would use it for good and only support companies which operated with integrity and I would only advertise in an ethical way(meaning not say stuff which isnt accurate).

 

[TheStateUofMS]

Call the guys on tv.

Considering buying what I'd consider a reasonable amount of silver, I just don't know enough about what I'm doing. Someone with a lot of knowledge tell me everything I should know and where I should get it from

I'm sure they can tell you all you need to know*

 

[dorndawg]

Considering buying what I'd consider a reasonable amount of silver, I just don't know enough about what I'm doing.

I think you just answered your own question, although there are plenty nice folks out there who will be happy to teach you how it works as soon as you give them the reasonable amount.

 

[ShrubDog]

If you are buying bullion online its good to shop around. Places have free shipping and different premiums. Provident, silvertowne and jmbullion are places to start.

 

[SwampDawg]

The only thing I know about it is, that they think they are better off selling it to us for $x than they would be by keeping it.

 

[johnson86-1]

Considering buying what I'd consider a reasonable amount of silver, I just don't know enough about what I'm doing. Someone with a lot of knowledge tell me everything I should know and where I should get it from

I assume since you say you don't know enough about it that means you're actually looking to physically hold silver? Unless reasonable amount is north of $10k, I'd probably suggest guns and ammo instead. I think any situation where you need to physically hold silver, guns and ammo will be just as, if not more valuable. Obviously a little less portable though.

 

[TheStateUofMS]

It should be illegal what they do. The same as the indexed annuity guys

Gold and silver are no more certain an investment than the overall options of funds in a 401K.

They are advertised as having intrinsic value. Someone needs to call Inigo Montoya so he can let those snake oil salesmen know that word does mean what they think it means. There is no intrinsic value in precious metals. The value of those metals exists because there is demand. Said demand is based on desire and will by people. There is nothing intrinsically valuable for either gold of silver. We place a value on both metals.



On a related note...
That whole Goldline push a handful of years by Beck and Hannity et all was just shameful. I like to think that if I had the ear of millions of gullible people, I would use it for good and only support companies which operated with integrity and I would only advertise in an ethical way(meaning not say stuff which isnt accurate).

Seems like everyone is tightly regulated about correspondence except people who sell these type products.

 

[UpTheMiddlex3Punt]

If you want silver in case of an economic apocalypse, skip the bullion and go for junk silver. You can buy a bag of silver dimes for just a little over spot price. A silver dime is currently worth about $1.25, a far more manageable price per unit compared to mint condition silver eagles.

 

[TUSK.sixpack]

I assume since you say you don't know enough about it that means you're actually looking to physically hold silver? Unless reasonable amount is north of $10k, I'd probably suggest guns and ammo instead. I think any situation where you need to physically hold silver, guns and ammo will be just as, if not more valuable. Obviously a little less portable though.

This is correct... Plus, with Guns & Ammo, I can get all the gold & silver I would want.

 

[mstateglfr]

Ha, funny timing- I just saw a commercial for a company called LearInvestor(Capital) hawking gold and silver coins.

**Spoiler alert- minor political comment below. Dont read if you are sensitive and cant accept comments that can be backed up with quotes**
At work, we have a few TVs on the main floor that stay on either CNN or the Weather Channel. Those are the 2 approved channels except when a sporting event is on that means something(Masters, NCAAT, British Open, etc). On Wednesday I walked in to see them on FoxNews because apparently thats necessary now that a xenophobe celebrity with narcissistic tendencies is the leader of the free world. The change in TV channel has brought some more interesting commercials for sure.

So anyways...call LearInvestor for all your gold and silver coining needs. They advertise their customer satisfaction rating is over 98%...so just ignore all the websites that hate on them.

 

[Shmuley]

Here's how I assess it. If everything goes to ****, where will the market for your precious metals really be? Are you going to haul around a big *** load of coins with you? How would you value your holdings? It makes no sense to me, really. You'll be the richest dead dude around though.

 

[ShrubDog]

Silver and Gold have been around for a very long time. Paper money is paper. There is nothing wrong with having some metals.

 

[mstateglfr]

Silver and Gold have been around for a very long time. Paper money is paper. There is nothing wrong with having some metals.

All this is absolutely accurate.

The problem is the companies who sell the precious metals take so much out of the purchase that you are left with something worth less than what you paid...significantly less. And significantly more is taken than with traditional investments like a 401K or basic Ameritrade account.

The other problem, though not specifically with the commodity itself, is the fear marketing used to promote such investments. Many buyers are following the marketing because they are scared and fear the unknown. That, to me, is predatory marketing.



But you are correct- there is nothing wrong with having some metals. My brother in law has gotten both my girls a silver coin every year for each of their bithdays and its great.

 

[ShrubDog]

You are correct also, its the premiums and how much above the spot price they are selling it. You have to shop around. I have a significant amount of silver that I inherited and have continued to stack metal for years. Im not as aggressive anymore. Sold some when it went to 'the moon' a few years ago. Got some gold as well.