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 Replies: 25 / Views: 2,541 |
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Valued Member
175 Posts |
Ive only been investing/collecting silver for about a month now and I'm wondering if I'm joing in the market too late. I only listen to a few people for my news. Two of them are Peter Schiff and Gerald Celente and both of them think that next year is the year where everything gets crazy. I dont think I can accumulate the amount of silver I would like to have by then. Its not gonna stop me from buying but do you think that people who are just getting into PMs are joining the market too late? Edited by Ron2012Paul
06/27/2011 02:11 am
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Valued Member
United States
228 Posts |
You're not too late... Stack as much silver as you can in any form... Your namesake (Ron Paul), thinks that Fort Knox may not hold as much gold as is claimed. Governments all over the world will be forced to print money in ever increasing amounts to cover debts that can not otherwise be paid. The corruption of and manipulation of the silver markets is now well known. China is on record as recommending to its citizens the purchase of silver. All ready one of the worlds' most useful metals, silver is now being looked at seriously by the American public for the first time - as a place to invest. Commodities as a group, are good investments, PM's are great investments, and in a few years it will be clear that silver - of all the PM's was the best investment of all !  |
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Valued Member
 175 Posts |
I was really suprised when I first came to this forum cause of all the silver talk that was going on. I figured there would be a bunch of gold talk but all I read about is silver.
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Rest in Peace
United States
9104 Posts |
Silver has always had the big swings. As good as the 16:1 ratio is for silver's potential, people are just starting to realize that gold above ground is ten times as plentiful as silver. Calculate 16:1,and you get $100 silver, calculate 1:10 and it jumps to $16,000!
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Bedrock of the Community
Australia
21788 Posts |
I think if you are a short term speculator, you ARE too late. I suspect that silver is going through a period of price stability just now.
You have to be an opportunist, (and a lucky one at that), to have got in at the right time, and to have sold out most or all of your silver to make your profits. Profits are only realised when you sell at a profit.
I suspect that a few are considering themselves fortunate enough to have bought silver at below $15-$20. to be still be holding on to their silver, still looking for further price increase.
For my part, I have proven myself as being lousy at timing the market. That does not worry me, because I am really a lifetime coin collector, not a bullion investor.
However, I did buy a large chunk of platinum 15 years ago, but the price rise of that on a compound growth % per year has been OK, but not spectacular.
If you are a long time investor, you should reap very satifying rewards over the long term. The long term I am thinking about is many years.
There a quite a few people who buy gold, forget about current prices, and just sock it away. Now, quite a few are considering silver in the same light.
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Pillar of the Community
United States
931 Posts |
Better late than never. The dollar is rising in relation to another doomed fiat currency so the current silver suppression will be short lived in my opinion. Silver prices will not rise per se, but the dollar will weaken requiring more dollars to buy an ounce of silver or gold. Our Government has no way to stop the eventual failure of the dollar given current Government spending policies.
Edited by junior e
06/27/2011 09:42 am
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New Member
United States
11 Posts |
Same here Ron2012Paul, started with silver bars about a year ago. Eventually started on coins and that is my main interest now. I just traded the last bars I had for a Ryedale copper sorter. The bars are cool but the coins just have a look and feel that can't be beat !
When the silver dropped I thought, Great...why did I just waste my limited cash on something that just lost value. But after reading my forums I figured it is a long term deal and I really just like the coins to look at and feel. The history of some of the coins are really worth as much to me as their monetary value.
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Pillar of the Community
United States
3670 Posts |
People looking to make a quick buck and who could care less about the product itself, will not be around long in this hobby.... Think long term, as no empire was built in one day. Buy at smart prices, as it is most likely money wasted on something you have nothing to show for later. Therefore, 20 years when you sell whether you paid 15, 35, or 50 a piece for you ASE collection, it is worth what the market is at that time, which will be way more than it is now. And that money spent to acquire it years ago, is like dust in the wind or sands lost through the hour glass. If you can get great deals, and save yourself a few dying dollars and that makes you sleep good night, so be it as well. But in the end, the important thing is stacking. Forget selling high, buying low, just stack, and one day you will look up and you will have so much gold and silver you can do whatever you want. Perhaps convert it back into a new stronger currency of the future, where you can then reap the benefits of all your years of tedious stacking. Four years, just like college for me, multiplied by 5 should suffice which is 20 years, or Silverhawks University of gold and silver Stacking. After 20 years I will send you a hand written degree, or COA which states your a grandmaster stacker, lol.... Only problem with this plan above, you may have to be borderline poor for about twenty years until you graduate. But hey, that is about the exact same situation as any doctor goes through until they get established.... Edited by Silverhawk74
06/27/2011 4:51 pm
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Pillar of the Community
United States
648 Posts |
Ask yourself are you long term or short term? If you are long, the party has just started and you are not that late. If you are short and want to make a quick buck in a season, well, good luck.
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Pillar of the Community
United States
4008 Posts |
Too early? Too late? Neither matters if you are interested in long term results. In this case, simply buy whatever amount of silver you can afford whenever you can. That way, you will average down your costs and end up with more ounces per dollar spent. Lots of bullion investors do this because it works reasonably well without a lot of fancy gyrations or machinations. In many things, simple is good because there are fewer things to go wrong with your plan. Just recognize that you will pay more or less at various times but since silver is better than its paper equivalent, you will be MUCH better off to have your wealth stashed in a hard asset rather than a soft one. This is not to say that you should invest ALL of your money in PMs but some amount would be very good. I like the fact that bullion collecting is both an interesting hobby AND a way to stash wealth in something that cannot be stolen by the silent thief we call "inflation".
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Pillar of the Community
United States
3670 Posts |
I say five grand a year, about my average, even though I have dropped about 3000 on silver an 1500 on gold since late January. I have 26 grams of gold coins an bars and 68 oz. of silver, 57 of which I bought, as 11 oz. was gift from my mother. But being new like you, I wanted to get a good start. I may end up spending about 8 grand this year when it is all said and done, and I am lucky to make much over 20 grand a year bar-tending, and maybe a little more on ebay sells here and there.... But, if one budgets wisely, 5 grand of 20 made at the bottom of the barrel careers, you still could stack 100,000 dollars worth of PM's in 20 years. I would think 100 grand worth gold and silver would have to be worth a bit more than that in twenty years, perhaps a quarter million or more, who knows by then.... Edited by Silverhawk74
06/27/2011 4:58 pm
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Valued Member
United States
56 Posts |
Silverhawk, I'm enjoying this stacking idea of yours.
It seems, and I could be wrong, that in all other fields (save savings) whenever you try to invest in something over a long time using only small bits of money at each time it's hardly ever profitable because of the overhead--fees, charges, taxes, etc. However, this may just be the one area where you can both save and invest without too much overhead--especially if you play it smart by mixing up 90% with bullion, etc. thus averaging out the premiums that get spent.
I imagine the only time this plan slows down is towards the end of those 20 years when your purchases don't have as much investment time as your purchases did 20 years back by which I mean, time to start 20 years part 2!
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Pillar of the Community
United States
3670 Posts |
True Studio  , as it is not going to be easy to be buying silver or gold in say 2020, as it will be so much more then. You can count on inflation as well, but not much more money made in salary, so I need to keep cranking out 8 grand a year for the first few years to get ahead of the curve so to speak.... As far as 90%, I have not added any yet but plan to add some for sure before it is over. I just figured I would get some real nice items on the way to my first 100 oz., so I could watch the premiums climb for those pieces over the years as they get older, and I am a collector at heart as well.... Edited by Silverhawk74
06/27/2011 5:44 pm
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Valued Member
175 Posts |
As always thanks for the wise words, I'm definetely in this for the long term I'm not trying to make a small short term profit but like silverhawk said I'm on the 20 year plan :). Hopefully down the road I can also graduate from the silverhawk university of stacking lol. Any extra money I have I've been putting into silver whether its 90% coins like dimes, quarters, and halves I just buy up what I can. I'm glad I found this forum since all my friends think I'm crazy for buying silver and gold, its nice to talk to people who have the same ideas and outlook on our economy and collecting PMs.
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Pillar of the Community
United States
3670 Posts |
Yes what ever one can afford is good IMO. They say take 10% and put it away and you will be fine, with my plan you have to be a bit more frugal, as 25% is a big chunk, and of course everyone has different salary's and bills, money available to invest, etc.....
People never think about cars breaking down or getting sick and other unplanned expenses. My grandfather just past Saturday, and he had a great long life at 80 plus years. He was in the Hospital for two weeks even though he spent last month at home as he wanted. They dropped a 50 THOUSAND dollar bill on him on the way out, and his insurance helps but he does have to pay (or the family now) 20% off the top....
His last conversations with me was about how the bank was killing him on his money via CD's, like way less than 1%. Of course he was worried about my grandmother and other family members, and a couple of rental property's. On one of his last better days, I explained my new interest in pm's and early on he did not seem to understand, but after a while of explaining how things are bought these days and sold via computer, and the obvious problems with the economy, I actually believe he felt comforted that I would be o.k. and would do fine with my new hobby/investment. I do however feel he was much concerned about my grandmother who has alz, and his daughter and other family members, even though he did leave them about a quarter million to divide up, of course the hospital will get 20% of that 50 grand owed....
Edited by Silverhawk74
06/27/2011 8:36 pm
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Valued Member
175 Posts |
Im sorry to hear about your grandfather, I actually work in a nursing home and we have a resident that I've gotten pretty close with and I visit with him and his wife on a daily basis and they told me it costs them 5 grand a month for him to stay at my nursing home so these two hard working americans who have worked all their life now have to use their life savings for him to stay in a nursing home. We also have a resident who was homeless before she came to our nursing home and she gets a free ride cause of medicade or medicare one of the two and it makes me sick that this guy has to use all his life savings now while this lady gets a free ride its just not right.
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Replies: 25 / Views: 2,541 |
Posted 06/27/2011 02:09 am
