any hardcore silver buyers here?
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Old 06-25-2012, 09:01 PM   #1
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Default any hardcore silver buyers here?

I'm contemplating buying a small amount of silver on my credit card. I have a high apr. Has the upward trend been enough to cover say 30% interest?

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Old 06-25-2012, 10:05 PM   #2
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I've contemplated that myself...the silver, not the cc question. I betcha BKT could give you good advice when he sees this thread...

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Old 06-25-2012, 10:11 PM   #3
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Yeah I haven't really been following the prices so I don't have a clue on the short term investment value. I just know its better than having a safe full of dollar bills and less likely than gold to be confiscated by the feds in a shtf scenario.

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Old 06-25-2012, 11:00 PM   #4
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No. If you had bought 4 years ago, yes. Price has declined. While holding some silver is a good idea (I happen to like American coins) buying them and paying 30% interest is a losing deal.

You can try this for VERY little money. Visit banks and credit unions, and ask for ROLLS of half dollars. Take them home, carefully remove, keeping wrappers intact. Look thru them check for 1964 and earlier and 1970-1965.

Here is why- Prior to 1965, US dimes, quarters, halves and dollars were 90% silver- in 1965, the US pulled silver from it's coinage- EXCEPT- half dolars remained 40% silver until 1970. Those are worth $4.05 each at today's prices. No good ones? Return the orinary halves to the wrappers, cash them in at another bank.

What are US coins worth for the SILVER? http://www.coinflation.com/silver_coin_values.html

This is NOT any collector's value a coin may have.

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Old 06-25-2012, 11:06 PM   #5
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Cool. Thanks for the info. I figured I was asking for too much of a return. It would only be viable if we had a total economic collapse. God forbid

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Old 06-25-2012, 11:25 PM   #6
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Try stock symbol FCX they own some gold mines but primarily copper. Price is way down right now but could shoot up and double w a nice dividend approx 3.4% while you wait. Just another way to invest in precious metals and I am rather fond of dividends...

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Old 06-25-2012, 11:31 PM   #7
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I was buying silver on a regular basis for about a year and the prices were going up, that was a good thing. I think it hit 46$ per ounce at one time

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Old 06-25-2012, 11:34 PM   #8
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Quote:
Originally Posted by Gonzilla
Try stock symbol FCX they own some gold mines but primarily copper. Price is way down right now but could shoot up and double w a nice dividend approx 3.4% while you wait. Just another way to invest in precious metals and I am rather fond of dividends...
I've done well in stocks in the past. While everyone was loosing their shirts I more than quadrupled my money. If I were to invest in stocks right now they would be all foreign. Chinese money and products sadly.
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Old 06-25-2012, 11:36 PM   #9
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Woops hit the wrong button. As i was saying after it hit the 46$ mark two investment firms dropped 10 tons back into the market and that pretty much was the end of the silver rush,(

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Old 06-25-2012, 11:39 PM   #10
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It sounds like a good time to buy to me.

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