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Anyone else here with silver fever?

Discussion in 'Making Money' started by bloggerdon, Sep 6, 2010.

  1. bloggerdon

    bloggerdon Registered Member

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    Silver has really been rallying over the past few weeks, i've recorded an 8.37% Return on investment in just 3 weeks. I only bought $225 of silver, but got a free ounce of it and now it's up to $263.29... kind of makes me wish i wasnt sinking so much money into businesses because silver is such a good buy. If i had a million... well i wouldnt mind getting $83,700 of easy money in 3 weeks.

    Do you own any silver? If so post here how much you have, how much you bought it for etc.
     
  2. _unknown_

    _unknown_ Junior Member

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    I personally keep approximately $9,000 worth of silver bullion, and another $6 to 7g's in scrap sterling. I personally feel that silver is the way to go for the future being that it is being used up in industry and most of the above ground reserves are depleted throughout the world. I have my own brick and mortar store that buys and sells gold/silver bullion/scrap. In gold bullion I only keep around $6g's on hand, and the rest in scrap.

    I think I will see $50/oz in my lifetime (like in the 80's from the Hunt brothers), so needless to say, I'm only going to sell so much of it to the public :)

    The silver that I do have, I got at $16/oz before silver jumped up to $18/oz..now its almost at $20 and the speculation is that it will be ~$23/oz by the end of the year

    Get it while its cheap!
     
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    Last edited: Sep 7, 2010
  3. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    I've been buying 250.00 of silver each month for over three years... it's a good commodity to have sitting in your safe.
     
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  4. meathead1234

    meathead1234 Moderator Staff Member Moderator Premium Member

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    Question: where did you buy the silver from? I've been looking around for a while but want to buy online and not have to worry about keeping it in my own safe etc. I'd like the option to buy other commodities as well from one account as well.
     
  5. bertbaby

    bertbaby Elite Member

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    Ah, brings back memories of the Hunt brothers and the Silver bubble! Good times!
     
  6. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    I buy it local and keep it in a safe at one of my homes... you could do the same and use a safe deposit box at a bank if you are uncomfortable keeping it in your home.

    I only buy bullion in 10 OZ bars as I am not interested/too lazy to check numismatic values.
     
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  7. tjk1058

    tjk1058 Newbie

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    I bought silver dollars back in the 80's but got burnt on them... wish I would have stuck with bullion as it was only around $7 I think at the time.

    TedK
     
  8. _unknown_

    _unknown_ Junior Member

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    I wouldn't recommend keeping gold bullion in a safety deposit box or a safe, jewelry is okay. Some of the largest mining companies here in the states are shipping the ore out of the country to be refined and keeping it in ore form in anticipation of the next gold confiscation like in the '30's.

    They will likely go through your safety deposit boxes and if you have over a certain amount of gold bullion then you will go to jail... Don't ask me how I know this, a bird told me :)

    BTW, bullion doesn't carry much of a numismatic value like currency does. It is what it is (the majority of the time). I have most of my gold in silver in 1oz(silver) to 1/4oz(gold) denominations as it is easier to trade with once the shit hits the fan... I'm too lazy to shave off half an ounce of silver onto my scale from a 10oz bar ;)
     
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    Last edited: Sep 7, 2010
  9. izm

    izm Regular Member

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    the ********?
     
  10. marketingwise

    marketingwise Junior Member

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    THis is a topic I know something about. THe place to go for all the updated by the minute information is www.kitcosilver.com
    THese guys buy, sell and deliver. THey also have a silver pool, non delivery till you are ready, but very low comissions.
    I like 1 oz, because if society goes bad you can use it for trade. 10 oz is not tradable the same way because how can they give you change?
    You want to keep this in your possesion because if they have a bank holiday like they did in the 30's you can't get to your bank safe.
    Also, all the not main stream commentators say the $ will go down or be devalued by 1/2. And silver might grow faster then gold.
    GOld has the problems of 1- the government confisacted it during the 30's (but not silver) 2- when you try to sell it it is had to find a buyer who has cash?
    The add on commissions businesses charge are 2-5%. Kitco is closer to 1%. (less in the pool).
    If you want to discuss anything privately with me you can PM me.

    If this is good info hit the Thanks button
     
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  11. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    I don't think that the world economy will hit such a low that currency will be NG and we will be buying and selling with gold and silver... I am buying it as I believe we will see stupid numbers again in the future and using the dollar cost averaging method is always how I buy long term investments.

    At some point, I'll sell it all and pocket the profits.
     
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  12. bloggerdon

    bloggerdon Registered Member

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    I use http://silver.bullionvault.com you own real silver with them, silver they have in their london vault. It also gets insured up to its full market value, and the insurance is chump change. The one thing that sucks about it though is that transferring cash internationally sucks big monkey balls. Their bank charged me $25 and my bank charged me $10... so if you do buy silver from them... dont send a small amount of cash.

    It's too bad they dont accept paypal.
     
  13. KBC-12

    KBC-12 Regular Member

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    From their site:

    1. Register your email address and get a FREE OUNCE of silver...


    So they really do give you a free ounce for regestering? Or you have to buy/make a deposit as well?

    Personally, I wouldn't be buying silver to store in any vaults, especially one that is overseas. Maybe a safe deposit box at a local bank, but safe at home is #1 for me. Up to a certain point anyway. When you get to really really large amounts I will probably look at that option or the ETF's.
     
  14. hardhat

    hardhat Junior Member

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    why do you all buy *real* silver metal? just place your bid on commodities and bedone with it. no need for insurance, no need to stash it away.

    i've bought about euros at $3000 back in the days, and don't have a single euro bill in my wallet.
     
  15. BassTrackerBoats

    BassTrackerBoats Moderator Staff Member Moderator Jr. VIP

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    I've played the commodities markets back in the day and you do have to have margin money for starters and the chance to lose money is at a much higher risk because you are dealing with a much larger quantity of product.

    I was in the grains as well as T-Bills.
     
  16. bloggerdon

    bloggerdon Registered Member

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    Yep i got a free ounce of silver without depositing. That wasnt what made me buy in anyways, it's when i read their extensive FAQ. Yes personally I would have rather have the silver, but then security, insurance, and storage is a bitch... so i'd rather outsource that side of it.

    I wouldnt want virtual silver (options and ETF's) as it is not insured (if the silver commodities broker goes broke... my silver is toast). Whereas my bullionvault silver is insured to AT LEAST the FULL market value at the time of an unforeseen event such as a fire or whatever.