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 Replies: 58 / Views: 5,033 |
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Valued Member
United States
176 Posts |
What do you think silver will do in the next month, year, decade? Should I invest now or later?
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Pillar of the Community
Mexico
1304 Posts |
You are in the right place for such a discussion. I think you will find that although many around here are of the opinion that silver is a little too expensive right now, they also see a long term upward trend and would tell you that if you have no silver at all, to at least get some in your possession immediately.
Right folks?
Oh, and welcome to the board.
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Valued Member
United States
376 Posts |
Absolutely.....long term investing, buy as much as you can :)
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Valued Member
 United States
176 Posts |
Thanks, and I am just concerned because I bought around 65 oz for $30-$32 ish per oz and alot of speculators have said they see silver declining, so I am wondering if I should sell now and rebuy when it's low or just to hold on to it? Keep in mind I am under 20 and this is a lot of money to me right now.
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New Member
United States
37 Posts |
What is your end game?
Are you looking to turn a profit near term...or are you keep this for 10+ years as an investment.
If it's long term, don't worry about it, and squabble over a couple bucks it may drop or go up in the short term.
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Bedrock of the Community
13014 Posts |
It all depends on how it rises if you want to sell or not. If it spikes into the 40s or touches 50 again Id sell and Ill be selling mine. But a slow steady climb over time is sustainable, having it jump a dollar or so a day is just a spike that will come back down.
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Valued Member
United States
176 Posts |
I'm not looking for instant profit, my bullion is in my collection of morgans walkers and ASE's, I just turned 16 and I have become addicted to the thrill of collecting and I see it being a lifetime hobby. |
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Pillar of the Community
United States
667 Posts |
If you bought 65 oz and feel you should sell now then maybe your in the wrong market. Certainly if that is a lot of money to you then I would say you made a poor decision if you can not afford to loose money.
I'm not trying to be rude, I just want to point out that you put what you call a lot of money into speculation not an investment. You should never ever do this to money that you can not afford to loose.
With that said IMHO what you need to do is buy a little each month at different price levels. This would be money that you would not miss. This would spread out the total cost of your silver.
If you need the money period then you should sell as close to even as you can. I see this in a lot of new people to PM's that are looking to make fast money. You will see so many ups and downs that you certainly should never get excited over any drop.
People have different goals, some never sell holding it all for a disruption in the money market. Other try to flip but few win looking for large gains. Some are good at true speculation holding, selling or moving assets from silver to gold.
But my nest advice is if your this nervous sell now and make a better investment with your money.
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Bedrock of the Community
13014 Posts |
I should have also added it depends on the type of silver you have. If your coins have numismatic premium on top of the bullion value Id keep them. If theyre just bullion I'm selling in the 40s and for sure at 50 so just letting you know what I would do. Nice start though for a such an age. Better start getting some nice boxes picked out lol
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Valued Member
United States
176 Posts |
I'm a big fan of the DANSCO albums :) expensive though, I can't help but think every time I buy one "I could've bought a nice walker for that"
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Pillar of the Community
Canada
1723 Posts |
I agree with Mkfarm
Also...I can almost bet that 50% of there people here on CCF most likly have a DCA of $29 - $34 per oz, and considering all the ups and down over the last 18 months, your in at an average price. Read more threads and ask more questions and you will start putting a picture together for yourself.
65oz is a great start though! I myself have pretty much the exact same as you. If you want to see it work long term as a wealth preserver than dont even worry about spot prices because the fluctuations mean nothing long term.
Short term... Slow and steady is what you want to see. Majority of times when price rises fast, it falls harder shortly there after just to rebound higher that it was when it fell. These are profit taking times by the paper traders and consolidation periods. During these times is your chances to sell high buy low. BUT! My opinion and like MK said, there are a lot of people, myself included, feel that there is a lot of long term upside to silver, so anytime the prises rise fast, I wait for the drop and then add more slow and steady until the next little ramp up. This has risk too, because no one knows what silver is going to do, its just too volitile. The risk is you stop buying and the dip doesn't happen....then youve missed the boat on what turned out to be a buying op. Like I said, study and learn. My final thoughts are always to be buying...how much is the real question. Good luck and welcome to the boards.
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Pillar of the Community
Mexico
1304 Posts |
My dad gave me some similar advice when I was your same age. Something like "don't invest money into something if you can't afford to loose the money." It was a couple hundred dollars back then, maybe upwards of a thousand at the time and would have yielded a tidy little profit in the short term. I really thought that I couldn't afford to loose the money and I backed out of the deal.
Now, as I look back on that, I'm sad that my father didn't add to that well founded advice "...but you shouldn't worry about loosing the money at your age. You are young, have a family that loves you and provides for your needs and you really CAN afford to loose the money, its not that big of a deal. You can always get more money."
At least that's what I'd tell my kid if he was in that kind of spot.
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Valued Member
United States
176 Posts |
Thanks harrison2, I have thought of it that way too, what is $2000 now when in 2 years I will be $80,000+ in college debt anyways lol
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Pillar of the Community
United States
1903 Posts |
With an open ended policy of the FED buying mortgage back securities the US dollar is loosing about 0.25% value per month due to the effect of quantitative easing. Based on this and this alone...PM values over the next 12 months on average should go up about 3%. Better than any bank account at the moment. Even if silver just kept pace with inflation ( which most commodities do ) your investment would gain about 2% buying power per year ( of which the FED says they are willing to let inflation climb to 4%!) You would still be ahead of the game in either case but if you realistically look at the fact both mechanisms are in place at the same time...there is a real possibility PMs should see as much as a 7% rise over the next twelve months ( ignoring spikes and dips ). I will take 7% annually any day!
Edited by unholyroller
09/17/2012 10:31 pm
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Pillar of the Community
United States
1391 Posts |
Rupre07, if I were you I would think long and hard about $80,000 in college debt.
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Bedrock of the Community
13014 Posts |
Quote:
Rupre07, if I were you I would think long and hard about $80,000 in college debt.  In all likely hood you could get just as good if not better of an education for half the price or less. Its one thing to have that debt to be a lawyer or doctor, but I would strongly advise against taking on a debt that will be years of a salary of a job you want to go into after college depending on what you want to major in |
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Replies: 58 / Views: 5,033 |
Posted 09/17/2012 9:38 pm
