Yeay, Goooooooooooo silver. I am glad I bought a shit load when it was $26.50 in June/July. I said it, buybuybuybuybuy. And I did. Now the real question is when to sell. Im assuming from what everybody says to wait till $34.00 or so. But I am wondering; what will happen after the election,What effect will inflation have due to Qe3(when not if). Anybody have any ideas/suggestions for things to look for this year?
PMs are not speculative buys to make money with, they are long term hedges. See what the price for silver is in 5 years time, you might be surprised. Hedge (finance) - Wikipedia, the free encyclopedia
Sell whenever you want. Personally I wouldn't sell until the bull market is near its peak, and it's not even close to that yet. Silver will easily be over $50/ounce, maybe a lot more. An easy way to know if PM are still in their bull phase is by interest rates. As long as real yields are negative and rates are near zero, PM will continue to climb.
I buy from local coin stores. Most of the "we buy gold" places sell bullion coins; American Eagles, Canadian Maple Leafs, etc. They are usually $1-3 over spot depending on year. A lot of people buy online, sometimes eBay, but I like picking them up locally.
I've never had a problem when buying from eBay, but I can't fucking stand Paypal. Lately I've been buying from local shops and I'm saving at least 7-10 bucks between fees and shipping. Local is definitely the way to go, imo.
That's a tough one to predict. Unfortunately, I still think the price of silver is WAY too high. Not even 10 years ago it was around $6. It hovered around $4 for literally decades. I paid $6.50 when I bought quite a few rolls of silver dollars, and sold them later at around $18. After that things started getting really stupid with precious metal prices. FYI, likely the best way to invest in silver (unless you're going for considerable weight, like 100-oz bars or something) is with silver dollars. You not only retain the silver value per weight, but also the numismatic value of the coin itself. You do pay a bit of a premium per coin, but it usually works out when you sell. Also, you can always sell silver dollars in a pinch. You might not be able to sell those Muppets take Manhatten silver collectables as easily, even by weight.
I think we ought to boycott paypal. They r raping the consumer w diff fees for everything. I hate them too, but who else can one use.
Uh, how about based on damn near everything around it? Sure things like the value of the dollar and exchange rates can have quick effects on these prices, but silver went from $4 to over $40 in less than a decade. Care to tell me what else in your life has suffered a 900% increase in cost? You can't exactly chalk that shit up to the standard inflation rate.
Silver and gold were depressed for a long time. They are revaluing now to more proper levels. And yes it can be chalked up to inflation. Based on the total money supply increase that has taken place in the last few decades PM hasn't kept pace. Now it's correcting itself by this bull run.
Are you merely trying to convince me of this, or was this merely a regurgitation of the sales pitch that sold you on PM in the first place as an investment vehicle? There are so many variables to consider here (even down to the global supply based on PM used in electronics and its ability to be recovered during recycling), but I'm not so sure I would call it depressed values when looking at what caused silver to spike in the 70s (which was the last timeframe it was valued as high as it is today). It sure didn't help that the Hunt brothers tried to literally corner the market, forcing a somewhat false but significant increase due to supply and demand. With the number of investors today, I doubt you're going to have individuals holding large percentages of the global supply to create a corner again. Needless to say, there were considerable extenuating circumstances that caused the last massive spike in values, but the values on either side of that spike speak more to the long-term stabilized value. I simply fear we're dead in the middle of another spike with PM, that's all. As to what truly caused it, well, the entire financial sector hasn't exactly been stable since 2008. A lot of people want to try and convince themselves that all is back to normal, but I fear it is merely smoke and mirrors. It's tough to trust damn near anything out there as those responsible for the last meltdown continue to go to work...marching right past the millions they put in the unemployment line.
It is a great long term investment, but if you drop enough money at once it can be a good quick sell in this instance. Jumping from $26 and change to $33 is a great time to act because this doesn't happen often. So including tax I have averaged my take to be worth $30.24 per coin. As long as silver is above 31.24 per coin I make profit( $1 for trade in value for me). But due to the way the world is going right now there are too many variables to know exactly how and when the price of PM's will jump or slide. With lousy job reports and a stagnating economy, another round of QE will happen( but when?) and inflation will cause PM's to rise more.So I know it will keep rising, but how much how soon is the Q. Also after the elections, how will the next Prez affect the economy(I assume this would only have a small effect on the PM prices).
I wouldn't say PM's were repressed for so long just doing better due to less inflation. But PM's were re-evaluated recently which is why silver and gold jumped soo dramatically soo fast. I am not too sure wether we are in a spike or something new due to the current state of the global economy. We will be shortly going through Qe3 which will help the pm prices rise more. If we can't turn around our(and the rest of the world)economy, then the price most likely won't go down but up further and stay there for only who-knows-how-long. Besides, the jobs report looked shitty at best for last month. I agree that there are way too many variables to know exactly what will happen but I am placing my chips that PM's will keep rising, so I will keep buying. I bought a lot of silver when it was $26ish and I am slowing down how much I buy now to keep risk low buy not stop.
Yes,where I am 1,2,5,10oz silver is $1.5over market to buy and $1 under market to sell so returns are smaller and take longer to get your return. 100 and 1000oz bars are $1 over market to buy and the return is at market price so returns are quicker. The silver dollars are $2 over market, and the return is market so yes return is slightly higher than small bullion. How do they sell gold where you are? Here it is $75/oz over and return is market.But silver is easier to purchase for me.
Silver is looking bullish at the moment. First Bernanke's speech pushing it forward then the jobs report and now more trouble in Europe which has not registered in the price yet. http://www.aljazeera.com/news/europe/2012/09/20129918134282881.html I'm holding mine for now with a target sell @ ~$40/oz. Bought most of it at around $25 . Dunno if I would buy at this point but anyone who didn't when it was low a month or two ago is missing out.
Now for some perspective... Not telling anyone what to do with their pms, but do take note of both short and long term trends.