Posted on 01/29/2021 10:56:24 AM PST by amorphous
“Silver is currently over $27 at this exact moment.”
Silver hit it’s all time high adjusted for inflation in 1980.
Silver is a speculative trade, and a pathetic store of value.
>>>Silver’s job as a “store of value” has been pathetic for 35 years.<<<
I disagree. If you bought two pounds of silver in 1986 and you held onto it then guess what?
You still have two pounds of silver.
Everyone has their own strategy. I have been in the game since 2000, when silver was about $3. Random thoughts what I have experienced and learned: 1) The markets, gold and silver is manipulated by the major banks and bullion banks...JP Morgan has been buying since the 08 meltdown...the largest holder of silver on the planet. Why? Manipulation. Bailing out the COMEX, They had to supply Comex six months ago from “failure to deliver”....see www.gata.org , non profit, read all you can.That said: buy all forms. 1) Junk silver, ( pre64 coinage) 2) American Silver Eagles but they have huge mark ups...5$ over spot today. 3) Peace and Morgan silver dollars ( they are .900), they are drying up quick. Eg, JMB is 33$ + a coin, ungraded...silver is $27 oz today. 4) silver bars and rounds, just plain bullion, least Commisions charged. Older antique bars do go as high as 5x spot, some SF old pour bars bring 20x.Study up.5) Numismatics, graded Carson City silver dollars, etc go up steadily when the price is flat and sideways ( last 5-6 years) but do not do as well in a silver bull run. Keep in mind silver has never been confiscated like gold, it dual use, money and industrial. Buy all forms. Remember, silver has higher highs and lower lows than gold and both are tied at the hip and follow each other. Lastly, PM bull runs are typically 8.6 years, our current bull run started last year. Good luck, study GATAs articles and archives.
When tax returns or company bonuses were good, I'd add 90% silver old coins (quarters, halves) into the hoard, just for good measure. Seen it high, and seen it low, but never sold any. I learned on the old adage that silver never really lost value. A value of a silver dime could buy a gallon of gas in the early 1900's, and the same is true now.
Be sure to get a mix, as it's hard to divide a 1 oz. silver dollar (make change) for barter...
I have other 401K and IRAs that are larger.
I read that 5% of investment should be in precious metals and thought that this small IRA would be good for that.
100 ounce! WOW, I was thinking of something more portable or usable in the event it’s needed.
Diverse investments are a sound strategy but I’d also recommend having physical/tangible silver, gold, or copper at your home just in case.
See, just in case you get ‘debanked’ for having unpopular opinions and you lose access to your assets you’ll at least have something to fall back on.
Thank you, I will check out the sellers you’ve recommended.
I don’t claim to have much experience in silver markets but I suggest buying 10 oz bars for at least part of your investment. They are easier to keep track of and still useable for trade because they aren’t tremendously valuable lik gold krugerrands for example. Just my two cents.
A very real fear.
I hate the thought of mattress stuffing, but I have no doubt about the dirty dealings of the dems. Nothing is out of bounds for them.
I bought 13 acres of Texas farmland with family members in 1984 for $167k. Sold it in 2015 for $1.2mm.
That $1.2 million will buy 400 acres of Texas farmland today, with a reasonable house and barn, water, etc. And that 400 acres will produce income every year as it grows in value.
I think I’ll keep using land as one of my stores of value. Silver is for trading.
“Honestly, I’ve gotten so cynical that I’m concerned the bars will be silver plated. I’ve never bought metals as an investment so this is new and a little scary.”
Buy from a reputable seller and avoid the larger bars. There is less incentive to fake 1 to 10oz bars and in the event the SHTF it will be a heck of a lot more prudent to exchange 5 one oz bars for a tank of gas than it would a 100oz bar.
I usually buy from APMEX as the last time I bought from JMBullion they had a data breach and I didn’t fine out about it until almost a month after it happened. They are otherwise also a fine dealer and I have not had any problems with quality.
Yup. I’ve been watching for it.
If they can push it up to my sell price, I’m gonna be unloading several pounds, and then rebuy on the downside.
Depends, I just bought some 1923/24 AU Peace dollars for $22 each from my local coin shop, EBay was close to 32-36, JMBullion about same. Your local coin shop has advantages, walk in , pay cash, walk out , no record, no shipping.. Most of my locals “ specialize”, some care less about junk silver, or Peace and Morgan’s..are high on PCGS graded, or low...learn which ones are “ Coin shops” and which ones are” bullion shops”. One thing to realize, we have entered the 8.6 year PM cycle, I have never in my 22 years seen APMEX, JMBullion, Gainesville Coins experience any shortages...go pull up their products, they are sold out of virtually all 1 0z and fractional gold and have 2021 pre sales, a few 2020 AGE’s some with a 2-4 week delivery wait. Three of my LCS have been out of US gold coinage for a month now, one announced he is going out of business due to lack of walk in sellers, says he can not compete with EBay sellers.
Thank you! I feel a little more armed with info that will help me moving forward.
I listen to talk radio and it seems every host recommends some online company or another, but those places are looking for large investors, not small potatoes like me:)
“Take a bar and a coin and ask a kid at the gas station or the guy at the liquor shop which one looks like money to them.”
I collect ASE’s as well as bullion but do want to point out that as coins minted by the US Mint are technically property of the government and as such by law you cannot melt them down and I would not put it past our current friends in the FedGov to recall them at face value.
It would be much harder for them to justify this for bullion.
Not today, 10 percent recommended, and remember, if you do not have physical IN YOUR HAND, you do not own it. Three major bullion banks just closed their doors in the last three months....they dealt in gold paper contracts, with the PROMISE of delivery...guess what? They could not deliver the physical....folks....do realize we have entered another genuine gold bull, make no mistake. Do NOT think we can never ever become Argentina, or worse yet, Venezuela. Hint: an unnoticed slow ( then quick) currency event sparked all those countries into mayhem...the USD did the dreaded Death Cross six months ago, and has already lost more than 10 percent....the dreaded Death Cross is accurate 95 percent of the time...
Our national economy is going to collapse. I strongly recommend that FReepers buy silver. That is all.
What you said. You want physical silver in your possession, not someone else’s. When the SHTF (soon), you may not be able to get what you don’t have with you.
Currently, JMB beats most others, APMEX, Gainesville, but all have delivery delays...down some but was running 4-5 weeks awhile back. Money Metals currently better than most.....many say “ in stock” until you click on quantity....I can’t say enough, we are witnessing historical shortages and delays, like I have not seen in 20 plus years.
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