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 Replies: 80 / Views: 6,592 |
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Valued Member
United States
327 Posts |
I'm just amazed. Another 3.61% today? Edited by johnstac
11/30/2010 5:38 pm
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Pillar of the Community
United States
4989 Posts |
Interestingly, when stocks or commodities are booming that is often the worst time to buy. Examples are metals back in 1980 or stocks back in 1999. Good investing advice is always to buy low and sell high and never get caught up in a craze. You don't want to be the caboose at the far end of someone else's profit train. US Housing in 2005 is also an excellent example - the market was "red hot" and turned to garbage, wiping out most of our newfound home equity, by 2008.
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Valued Member
United States
66 Posts |
Hold onto your hats because I don't think we have seen anything yet!
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Valued Member
United States
53 Posts |
I agree scott hill...it will top $30 soon. Silver has been so under valued for years in my opinion. It just has so many uses.
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Pillar of the Community
United States
3592 Posts |
I agree with fenton...all the people that jump on the caboose when they are absolutely sure they will make money are usually the losers.I worked for a large homebuilder and watched many of my coworkers buy huge houses because they had a sure thing...now I'm retired and they are looking at mortagage payments until they kick the bucket...sad thing to watch.
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Valued Member
 United States
327 Posts |
I agree with you Fenton to a point. Typically not good to get in when silver has been up 50% since August. We are due for a correction BUT, I still see a lot of long term upside. Who knows for sure right? I have no idea whether supply and demand is correct right now. We would have to know how much silver is being used in industry and what the forecast looks like for future use. I think it would also be helpful to know who controls most of the silver to see if the market is being manipulated.
Nevertheless, I like silver coins in lower grades right now. Many are below melt without taking into account the age and demand of the coin. Just my .02 which is probably all it's worth. :)
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Valued Member
United States
327 Posts |
Maineman stole my thunder! Fenton lover :)
Anyway, I'm happy to have started investing in silver some time ago. I don't know if I could go all in at this point.
Edited by johnstac
11/30/2010 5:01 pm
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Valued Member
United States
213 Posts |
Silver has many uses, but the reason it was used for so much was because it was cheap.
Now that silver is so expensive, companies will start to look for alternatives. With cheap graphine just around the corner, its use as a cheap conductor is going to be small. And camera film is dead, so that is a good portion of the market lost.
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Pillar of the Community
United States
757 Posts |
yeah by around the corner you mean like 3-4 years. by then who knows what'll happen to metals. right now C60 as superconductor is still too expensive. I think we can be safe in assuming we'll see 30+ silver this year.
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Pillar of the Community
United States
958 Posts |
so some of you assume that silver from $4-$30 a ounce in 3 years time will be the way it pans out ?
then silvers new bottom is ? 4, 10, 15, 30 a ounce ?
from 4 -30$ is one heck of a up swing
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Pillar of the Community
United States
3592 Posts |
coppertop5150...if you are talking about my post...I'm saying just the opposite...."don't assume anything".
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Pillar of the Community
United States
3592 Posts |
[so some of you assume that silver from $4-$30 a ounce in 3 years time will be the way it pans out ?/]
Don't recall $4 in the last 3 years...or even 5. Where did you get that info ?
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Pillar of the Community
Canada
3692 Posts |
$30 is not too expensive. It's still actually in the average person's range. Maybe you can't stock up on 10oz anymore, but one might be enough for some people. It's still within most people's grasp. You can't say that about most other precious metals. I'm sure we haven't even discovered 10% of our potential on this planet so the uses are pretty limitless.
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Valued Member
United States
327 Posts |
Very interesting point about silver price being within most people's grasp. I think this is more psychological than anything because there is always a way to buy gold no matter what the budget. If not the actual gold, certificates, etf's, stock, etc. For me though, there is something about being able to say, "Yes, I can afford 10oz of silver", whereas buying 10oz of gold at these prices would be a rather large investment. What I like even better is that there are a lot of great silver coins available. Aside from just eagles; Morgans, Peace, and commemoratives are readily available and still very affordable IMO.
Up another 1% at the moment, I promised myself I would not track it daily but it has been kind of fun
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Pillar of the Community
United States
4989 Posts |
An alternative way to buy silver and gold is through the iShares Exchange Traded Funds. They work exactly like a stock and can be bought/sold through any Broker (ETRADE, Schwab, Ameritrade, etc...).
The ticker for silver is SLV. The ticker for Gold is IAU. Annual expense ratio is .5% for SLV (50 cents per year per $100 invested) and .25% for IAU (25 cents per year per $100 invested). Buy sell commission is just whatever your broker charges. $8.95 is pretty typical nowadays.
Both track the metals closely. Very good for IRA's and 401k's but be cautious since I think they are near peaking (!)
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Pillar of the Community
United States
757 Posts |
oof. would you really recommend the stock over the tangible asset fenton?
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Replies: 80 / Views: 6,592 |
Posted 11/30/2010 4:27 pm
