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A few years ago a rich man told me always buy silver. I remember spot was roughly $35 then and was I believe around an all time high and he said anytime he could talk somebody to $30 an ounce he was on it. Well with it now being around $16-$18 an ounce anybody feel it will go back to the mid 30s? How much lower could it go? I'm thinking about grabbing some bars while it's around $18 an ounce.

Yeah, sounds good...now post pictures! PLEASE

If you would have invested 10k in silver 30 years ago you would have about $9200, same investment in sp500-$260k. The only intrinsic value it has is really silverware and conductor. I'm not sure his basis for it being a sound investment but then again what do I know. It doesn't fluctuate much, unless there is a major shock to the economy or foreseen shortage of silver.

i dont' get all into the silver.. however a coworker is buying silver bullion (sp) for 18 or so a coin and selling them online for around 23-25 a coin. time consuming as hell buy he's turning a 5 dollar pavg profit margin per coin. buying from internet dealer in bulk then selling individual coins.

I don't know, I just heard a commercial on the radio that indicated both China and India are trying to corner the market on gold and silver. Better hurry.

lol

ScottyLee wrote:i dont' get all into the silver.. however a coworker is buying silver bullion (sp) for 18 or so a coin and selling them online for around 23-25 a coin. time consuming as hell buy he's turning a 5 dollar pavg profit margin per coin. buying from internet dealer in bulk then selling individual coins.

Jm Bullion has 100 ounce bars for $1750-$1800 per bar depending on the time of day. I was shocked when I saw how cheap it was. When I first looked into this a few years ago $35 per ounce was spot then I remember looking a few months later and it was about $47 and I thought that train had left. With it back bottomed out I figured now was better than ever. Just seeing if anybody else more into this and followed it harder had any input.

It's not at the bottom until it hits about 4 bucks. And remember this, all those ads are in the selling business but where do you sell it? Pawn shop? Jeweler? Be prepared to get scrap prices...

Precious metals are going to be under continuing pressure with the strengthening dollar. The fed is going to be raising rates next year and this will put more pressure on precious metals.

Buy some if you want to, it just may be dead money until the next recession. Gold/Silver are hedges against inflation/currency devaluation. Nothing more, nothing less. You will find plenty of tinfoil heads running around investing all their money in gold and talking about collapse of the fed/monetary policy. If we ever have a collapse of the money system, you will need ammo, not gold/silver.

Purchase advice, watch out for the premium above spot right now. It will take a while for this to shake out since prices have fallen rather quickly.

I'll keep investing in copper and lead.

MrGoodtime wrote:I'll keep investing in copper and lead.

yep.

edub20 wrote:

MrGoodtime wrote:I'll keep investing in copper and lead.

yep.

ME TOO