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 Replies: 56 / Views: 5,559 |
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Moderator
 United States
189110 Posts |
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My credit card is paid in full each month...and a 1-3% rebate in BassPro bucks...so technically I'm making money Quote:
I'm with you Maineman,paid off every month. I get to use someone else's money free for a month and then I get rewards points. I had 3 free hotel nights on my last week long vacation thanks to the reward points and they didn't cost me a cent! Agreed! Credit cards are superior to debit cards when you pay them off every month. A zero-interest loan that pays you! |
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Valued Member
United States
439 Posts |
It seems like this conversation has moved off topic a bit but here is my opinions.
I use credit cards but pay them off in full each month. I collect 1% in points and use there money for free. Makes me 1% plus.
Since rates are so low and my savings makes nothing I pay extra to my mortgage and car, which I paid off, which is like a 5% return for 30 years.
If I can buy silver for less than I can sell it to a dealer for I flip it and pocket the cash or buy a nice coin, basically a freebe.
When I find silver I accumulate some then sell. Take my face out and buy a coin. Another free coin. Not a bad wayu to accumulate some assets fro free.
If you guys have ANY credit card debt, pay it off first. That stuff is toxic.
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Pillar of the Community
United States
2734 Posts |
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Silver seems to be taking a dive. That was a quick little dive.... We're back up to $27 now. Quote:
If you guys have ANY credit card debt, pay it off first. That stuff is toxic.  Don't fall for the "hyperinflation will shrink my debt" plan, either... Quote:
credit cards give "rewards points" Paying cash since 1982 has rewarded me with hundreds of 90% and 40% U.S. junk silver coins from circulation, all obtained for face value.  |
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Bedrock of the Community
United States
10982 Posts |
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Read an article that really piqued my curiosity so want to ask a question. Has the run-up of gold changed your investment strategy between silver and gold? The article speculated that silver will see gains vs gold as the avg investor can come up with $4/500 much easier than $1,400. So, the guy who would have gone out and purchased an ounce of gold at $500 is now buying $500 in silver. Has the cost of gold priced you more into the silver market?
Jim: There's some truth in that also many people see more upside to silver. I am more interested in silver these days for the reason you cite and I also like silver coins! I am continually amazed that AU and even BU rolls are available at melt. I've been able to put together 10 rolls of AU/BU halves this year at basically melt price! |
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Pillar of the Community
United States
524 Posts |
I'm surprised at how much silver I'm still finding under melt now. Mostly at pawn and antique shops but I went to a coin show in Springfield Il. last weekend and found quite a few War Nickels at $1,Quarters at $3.75 and Walkers at $6.75. I guess the dealers just don't have time to remark hundreds of coins every time silver moves. Good for me. |
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Pillar of the Community
United States
2734 Posts |
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Has the run-up of gold changed your investment strategy between silver and gold? No, because I've never found any junk gold in circulation...  Quote:
...the guy who would have gone out and purchased an ounce of gold at $500 is now buying $500 in silver. Some of the most bullish "silver bugs" are selling or trading the gold they bought (at $500 or less) to buy more silver.  |
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Pillar of the Community
 United States
757 Posts |
yep, that's what I did with a good bit of my gold.
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Pillar of the Community
United States
2049 Posts |
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Some of the most bullish "silver bugs" are selling or trading the gold they bought (at $500 or less) to buy more silver. Honestly I'm not sure why one would when the gold:silver ratio is around 1:50. So you sell one ounce of gold, and get about 50 ounces of silver. It makes more sense IMO to trade silver for gold, and then back to trading for silver and ditching gold when it gets back around 80:1. Example...if you have 50 ounces of silver now, sell/trade it and acquire 1 ounce of gold. 6 months from now if the ratio is 80:1, you sell the one ounce of gold and you get 80 ounces of silver. You dont really spend any more money but your net position is 30 ounces more silver. ;) |
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Pillar of the Community
United States
757 Posts |
very interesting. what are the odds, do you think, that we'll see 80:1?
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Pillar of the Community
United States
2049 Posts |
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very interesting. what are the odds, do you think, that we'll see 80:1? Not sure but I am pretty sure it was that and a little more within the last 2 years. |
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Pillar of the Community
United States
2600 Posts |
DNA. Come to think of it, you are correct. I have never seen anything junk in gold. Still looking. Jim |
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Replies: 56 / Views: 5,559 |
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Posted 11/19/2010 10:37 am
