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Silver NY Spot Closed At 11.07 Today

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Pillar of the Community
United States
1247 Posts
 Posted 03/29/2006  6:23 pm  Show Profile   Bookmark this reply Add longnine009 to your friends list
A silver ETF is closer to happening.
http://www.kitco.com/ind/GoldReport/mar292006.html

And I suspect in the case of both gold and silver Benny and the fed are seen as following in the footsteps of their illustrious predecessor. Bennnny... Bennny... Benny and the fed.
Pillar of the Community
United States
1327 Posts
 Posted 03/29/2006  10:06 pm  Show Profile   Bookmark this reply Add djluster to your friends list
if you had 600 dollar to spend would you buy. 45-1oz Silver american eagles or would you buy 1-1oz Gold American eagle. what do you think would be a beter investment. not that I have 600 extra dollar but if I did or someone else did what would be the best way to go.
Rest in Peace
United States
3730 Posts
 Posted 03/29/2006  10:23 pm  Show Profile   Bookmark this reply Add Gary Burke to your friends list
djluster just beat me to about the same question.

I have a small windfall of about $400 and am trying to decide whether to buy coins for my collection, or to look into investing in gold or silver.

If I decided in the investment angel, should I spend the money on gold or silver?
Rest in Peace
United States
2884 Posts
 Posted 03/30/2006  01:02 am  Show Profile   Bookmark this reply Add Mike to your friends list
I would buy as high a grade key or semi-key coin as I could find for the money. The appreciation of these coins generally blows bullion increases over time out of the water. Someone just posted an article showing the growth rate on rare coins. Saving some percentage of gold and silver is always wise for balanced investing. What goes up, almost always comes down. Market timing in precious metals takes a great deal of knowledge as well as a little luck, just as the stock market does. Remembr the 80's bullion boom created more losers than winners!! Not to mention mass destruction of many what would now be very collectible coins. Good luck and remember to enjoy the hobby! Mike
Pillar of the Community
Belgium
2078 Posts
 Posted 03/30/2006  06:34 am  Show Profile   Bookmark this reply Add ageka to your friends list
Of course this is a coinforum and you people are savvy
but I visit an investor forum were somebody bought like 400 000 $ worhts in MS 63 slabbed double eagles at 15% over bookvalue
and sold them a few weeks ago for 15% below bookvalue
So if he had bought bullion coins he would have been 30 %
better of
Pillar Of The Community
3147 Posts
 Posted 03/30/2006  09:06 am  Show Profile   Bookmark this reply Add crystalk64 to your friends list
Speaking in terms of bullion only I would, without a doubt, buy the silver. Everyone in the know (lets say in print) is claiming that IF gold should double silver will jump to the $30 to $35 range? If this does happen then silver will be clearly the largest percentage of gain. And, personally, I think we will see huge gains in silver over the next few years. Honestly what would you like to do, double your money or MORE than double your money. Also keep in mind silver does get used and most gold is reclaimed. When the ETF takes hold in this country I predict silver will be a very very good commodity to be holding. As always TIME WILL TELL but it will be quicker than we think.
Gary I wouldn't wait around any longer than you have to if you want silver as the Eagles are already gettting pretty pricey! Good luck!
Forum Kid
Kuwait
1523 Posts
 Posted 03/30/2006  1:10 pm  Show Profile   Bookmark this reply Add thekidcollector to your friends list
It seems that gold should reach 800 by endf of next year. Thats alot of money and If gold increases, Sure will silver!
Bedrock of the Community
United States
14454 Posts
 Posted 03/30/2006  3:30 pm  Show Profile   Bookmark this reply Add Bryan1315 to your friends list
as of 3:20 EST on Thursday silver has jumped up to a wopping $11.61 thats about the biggest jump I have seen it do in one days time in a realy long time
Pillar Of The Community
3147 Posts
 Posted 03/30/2006  5:22 pm  Show Profile   Bookmark this reply Add crystalk64 to your friends list
Seems to me silver is acting like a wild animal that has been fenced in long enough. Slowly but surely this beast is kicking the fence down, piece by piece, and it won't be long before old silver is headed back to the wild! What a ride this will be!
Pillar of the Community
United States
1247 Posts
 Posted 03/30/2006  5:57 pm  Show Profile   Bookmark this reply Add longnine009 to your friends list
I would buy silver because I like the look of silver better than gold and because the average Joe Sixpack can afford it and may very well want some as events unfold.

IMO, there is a very strong possibilty that the U.S Economy will go into a melt down and Benny and the feds aren't going to prevent it with their actions or their Disney News releases. They practically jumped into a Pink Floyd rendition to shrug off the consequences of an inverted bond yield. Even though inverted bond yields have forecast 6 of the last 8 recessions. But this time it's a different Brick in the Wall:

"We don't need no concave bond yield,
We don't need no thought control,
No dark sarcasm from the gold bugs..."

Our economy is a *typical* 5th wave "hookah smoking caterpillar."
When it spirals in, a lot of Americans are going to lose it all. What happens then? We may have a depression that will make the Great Depression look like "tea time." And guess what? We ain't The Greatest Generation! This is the Narcissistic Generation, entitled to suck down champagne for 25 years and not have to pay the bill. There is, IMO, going to be a lot of "in the street" outrage when the bill comes due anyway. That will probably be wonderful for silver and gold. But it's not going to be a very pretty picture outside.
Pillar of the Community
Belgium
2078 Posts
 Posted 03/31/2006  07:02 am  Show Profile   Bookmark this reply Add ageka to your friends list
You are of course right about silver
but you will probably not be able to exchange it for euro because we pay between 19 and 21 % tax on silver and the spreads between bid and ask are huge
So that between the spreads and the tax you have like 50% difference before you make a dime over here

Pillar Of The Community
3147 Posts
 Posted 03/31/2006  09:27 am  Show Profile   Bookmark this reply Add crystalk64 to your friends list
Looks like all those silver euro commemoratives I have been buying since 2002 may well be a better investment than a collection? I don't see how some of the euro nations can continue to put unc. silver out at face value so I am buying while it I can!
Valued Member
United States
79 Posts
 Posted 03/31/2006  10:17 am  Show Profile   Bookmark this reply Add dgoose50 to your friends list
If longnine is right , you better stock up on ammunition and food/water.Precious metals are pretty but you can't eat them!!!
Pillar of the Community
Belgium
2078 Posts
 Posted 03/31/2006  1:03 pm  Show Profile   Bookmark this reply Add ageka to your friends list
My grandfather went through two Worldwars
At around 1953 when I was six he still had 100 pounds of rice and 100 pounds of grain sitting in his living room

During the cold war I remember several times the supermarkets where plain out of sugar and salt

So indeed having a 4 weeks food supply minimally is never a bad idea
Pillar of the Community
United States
1247 Posts
 Posted 03/31/2006  4:48 pm  Show Profile   Bookmark this reply Add longnine009 to your friends list
I tried a MRE the other day--MRE #9 beef stew. It wasn't bad at all.
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