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Gold n' Silver???

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sparkyosu said:
whoa, jesus now... you gonna be looking for my home know? you cant have my stuff, thats illegal man!!!!:biggrin:
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I ask because it is a heavy product. Shipping would increase the cost. Large quantities could also pose a storage problem. There is a market for the product, however not as fluid as the fixed/equity markets. I would think corruption/ folks taking advantage of the "average joe" woudl occur (a person has access to the spot market, purchases the product and immediatley sells it to the average joe at a higher price... if the average joe didn't have access to spot prices they wouldn't know they were being taken advantage of).


NYB,

Sounds like it keeps up with inflation... never increased buying power (although over the last couple of years prices have been on a tear... very much outpacing inflation:wink2: ). Long term it seems like a good treasury alternative...
 
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gbearbuck said:
I ask because it is a heavy product. Shipping would increase the cost. Large quantities could also pose a storage problem. There is a market for the product, however not as fluid as the fixed/equity markets. I would think corruption/ folks taking advantage of the "average joe" woudl occur (a person has access to the spot market, purchases the product and immediatley sells it to the average joe at a higher price... if the average joe didn't have access to spot prices they wouldn't know they were being taken advantage of).


NYB,

Sounds like it keeps up with inflation... never increased buying power (although over the last couple of years prices have been on a tear... very much outpacing inflation:wink2: ). Long term it seems like a good treasury alternative...
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Shipping, usually large quantities are delivered to your home just like a bank recieves its monies. A amored truck brings it to you with armed guards. Yes shipping is slightly higher then normal becuase of insurance. But the little amount losted in the beginning is made up by the rapid growth of the value, its like mutual funds, "Dont mind how much it costs today becuase tomorrow you have to buy more'' comes into effect here to, i buy a little more everyday, when its up (like at 700 last week) i buy less, when is low i buy more (like today i got in at 1oz for 622.31).

I keep it in a safe, i have a seperate home owners account for it. You have to kepp it yourself, it ish hits the fan like in the 40's 50's? and the government wants to, they are allowed to reposses all precious metals at no cost.

if you dont look at the stock market, a broker will take you... same for metals, i watch everyday and know where to find a spot price every hour of the day. its opening bell somewhere in the world.

no it isnt as liquid as a good stock share, only if you have rediculous quantites.i collect in small quantities, be are usually marked above spot price, but sell better then a $64,000 bar of gold. Also if it came down to it, it is still gold and silver, find a jewler, have it melted and some nice rings made, then sell those of with a certificate to another jewler, certified .999 solid gold jewlery will always sell.

it doesnt outpace inflation, it is inflation. as the dollar gets weaker the gold gets stronger becuase it is tied into the rest of the worlds money. so it only makes sense, as the cdollar gets weaker, the worlds money essentially get stronger = gold gets stronger.
 
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You hit the nail on the head... you aren't getting spot prices, you have to pay for shipping/insurance, and you take the risk of storing it.

When it is time to sell, you need to ship it, and you will prob. get below spot price... not sure if commisions come into play either.

Not saying it is bad at all... just bringing up the "negatives" that folks would need to know if they wanted to get into the game...
 
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No, i dont get the spot prices, but i want the physical gold in my possesion rather than futures trading.

I can sell to locals, without shipping, and getting above spot price like it was done to me. If your into it for money.

If you did get in for money i suggest to those to get into futures or something as liquid as such. The physical gold is more of a governmental insurance for me and my family should shit hit the fan, when i am gone hopefully it will bring my children rediculous amounts of money or the same secruities.
 
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sparkyosu said:
Who all in here is in to buying, selling ,trading the precious metals?
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Count me in. Silver is coming off a nice number at $15 dollars an ounce up from $4 a little over a year ago. Silver has dropped some due to the fact that some of the shorts are trying to cover, but many experts expect it to reach $25 in the foreseeable future.

Silver's demand will continue to increase. Silver is used in almost everything involving technology (cell phones, computers, TV's, etc.) It makes an excellent conductor. Silver is also used in many other things that you would not consider such as windshields (glare reduction).

Silver is being used up at an incredible rate. The supply is dwindling while the demand is growing, you do the math on the potential. Many people still insist on using gold in their portfolios, but gold is not nearly as widely as used as silver.

Like all investments, investing in precious metals involves risk. Make certain that all of your investments are suitable to you before jumping in.
 
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djtidebuck said:
Count me in. Silver is coming off a nice number at $15 dollars an ounce up from $4 a little over a year ago. Silver has dropped some due to the fact that some of the shorts are trying to cover, but many experts expect it to reach $25 in the foreseeable future.

Silver's demand will continue to increase. Silver is used in almost everything involving technology (cell phones, computers, TV's, etc.) It makes an excellent conductor. Silver is also used in many other things that you would not consider such as windshields (glare reduction).

Silver is being used up at an incredible rate. The supply is dwindling while the demand is growing, you do the math on the potential. Many people still insist on using gold in their portfolios, but gold is not nearly as widely as used as silver.

Like all investments, investing in precious metals involves risk. Make certain that all of your investments are suitable to you before jumping in.
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i think silver is a geat investment look at it this way also...

Silver dollars(1960-1964 are 90% silver) are easy to come by and are sercured in the fact that even if silver fell to 50 cents, the silver dollar is a dollar
Silver right now is more accesible in terms of 1 or 10 or 1000 oz. bars let alone coin pricing
the risk invest is quite lower... right now 12 bucks is lost per oz in a worst case senario as to gold being at around $630/oz. right now.-- a 50% loss only means 6 dollars to silver holders where as that means 300 dollars to a gold invester.
 
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sparkyosu said:
ithe risk invest is quite lower... right now 12 bucks is lost per oz in a worst case senario as to gold being at around $630/oz. right now.-- a 50% loss only means 6 dollars to silver holders where as that means 300 dollars to a gold invester.
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The problem with that logic is that a typical investor, be it silver or gold, will put a "sum" of money into the metal. For example, one might choose to buy $10,000 of gold or $10,000 in silver. A 50% loss would be a loss of $5,000 no matter what the price per ounce of each metal is.
 
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sparkyosu said:
i think silver is a geat investment look at it this way also...

Silver dollars(1960-1964 are 90% silver) are easy to come by and are sercured in the fact that even if silver fell to 50 cents, the silver dollar is a dollar
.
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sparky, what country are you referring to? The U.S. did not coin silver dollars in the years '60-64. Now if you are referring to U.S. coinage in general, the dime, quarter and half dollar was made of 90% silver until 1964.
 
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djtidebuck said:
Not at all, I wasn't trying to "get you". Several countries make silver coins in the 1 ounce variety. I own some of them myself.
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No, no hard feelings.

Where are you doing your buying? i am still new, well in it a year now, and i am looking at it in both secured monies and the bullion/bar variety. I deal with all four precious metals ( Au and Ag platinum and Palladium ). Right now i use the internet ( i know i am losing money every transaction ) but need a better source. You would think this would be able to do in Vegas, but youd be wrong, everyone here does futures and i aint got that kinda money.
 
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although over the last couple of years prices have been on a tear... very much outpacing inflation
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bear - I respectfully disagree. The government claims inflation is in check. To this I ask - name something that you can buy now that is about the same as it was 3 years ago? How about the big items that really drain the ol' wallet - housing? Energy? Of course, these costs are through the roof. The reason the govt reports lower inflation is because they have an incentive to to keep COLA and TIPs payments lower. As Hoover alluded to - dont trust the govt - trust the markets. The price of gold is a pretty good indicator of where inflation has been.

Further - also do not buy into raising rates to control inflation bs. I have thought about this much and have concluded the following - inflation is nothing more than the govt increasing the money supply faster than the GDP is increasing. In business school, I even brought this idea to one of my professors who was at one time on the Fed under Greenspan. He did not have a good answer for me, and in fact blew me off and tried to rush me out of his office. It really is simple - just think of a simple economy - one consisting of ten pencils and ten pennies. How much do you think each pencil will cost? Of course, a penny each. Now say we arbitrarliy add ten more pennies without increasing the number of pencils. What do you think will happen to the cost of pencils then? Of course, pencils will now be two pennies each - ergo the essence of inflation. Conversely, if we added ten pencils ALONG with the ten pennies (ie - increased money supply only in proportion with the increase in GDP), inflation would be zero. It is that simple - economics is not rocket science.

Of course, if you are a huge borrower of funds (see the US Govt) you have enourmous incentive to create inflation, as you are able to pay back debt with less valuable dollars. Naturally, this screws the lenders, but I am sure they are not concerned with that.
 
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NewYorkBuck said:
bear - I respectfully disagree. The government claims inflation is in check. To this I ask - name something that you can buy now that is about the same as it was 3 years ago? How about the big items that really drain the ol' wallet - housing? Energy? Of course, these costs are through the roof. The reason the govt reports lower inflation is because they have an incentive to to keep COLA and TIPs payments lower. As Hoover alluded to - dont trust the govt - trust the markets. The price of gold is a pretty good indicator of where inflation has been.

Further - also do not buy into raising rates to control inflation bs. I have thought about this much and have concluded the following - inflation is nothing more than the govt increasing the money supply faster than the GDP is increasing. In business school, I even brought this idea to one of my professors who was at one time on the Fed under Greenspan. He did not have a good answer for me, and in fact blew me off and tried to rush me out of his office. It really is simple - just think of a simple economy - one consisting of ten pencils and ten pennies. How much do you think each pencil will cost? Of course, a penny each. Now say we arbitrarliy add ten more pennies without increasing the number of pencils. What do you think will happen to the cost of pencils then? Of course, pencils will now be two pennies each - ergo the essence of inflation. Conversely, if we added ten pencils ALONG with the ten pennies (ie - increased money supply only in proportion with the increase in GDP), inflation would be zero. It is that simple - economics is not rocket science.

Of course, if you are a huge borrower of funds (see the US Govt) you have enourmous incentive to create inflation, as you are able to pay back debt with less valuable dollars. Naturally, this screws the lenders, but I am sure they are not concerned with that.
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Thats why the government got away from "our money is worth its weight in gold" to now our money is worth what we produce.

Remember sivler certificate dollars? they were worth going to fort knox and trading it in for silver, our currency doesnt work like that any more. as our dollar goes down, the metals value increases, hence gold and silver being your only securty. PICTURE THIS....

you neighbor hoards all his monies as hsa 1,000,000 dollars. over night we become the korea of the world and our money is worth less then dirt under a cows turd BUT you have been hoarding 1,000,000 dollars worth of gold. You both go to England and have to exchange your monies.
your neighbor might get a whooping 10 euro now for his million what is your gold worth in euro?
 
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