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-   -   Silver (http://www.firearmstalk.com/forums/f51/silver-39470/)

fireguy 03-08-2011 01:27 PM

Silver
 
I think this applies under the sustenance part of this forum. I've been getting pretty antsy about my investments that have only recently gotten back to where they were a couple years ago.

Instead of contributing to the ROTH and conventional IRA, does it make sense to anybody besides me to put the money into silver? I can afford the silver as opposed to gold, it might come down, but will never be worth nothing, which is a fate that I think the dollar is headed for.

Anybody else changing their investments to get away from the dollar?

Poink88 03-08-2011 01:33 PM

I am funneling most of my "disposable" or extra cash (which is not much) into silver, guns and ammo. These commodities should hold their value well even if dollar drops rock bottom.

I stopped buying silver when it hit $20.00 about 8 months ago and I am feeling sorry now since it is almost $36/oz. :eek:

Seven 03-08-2011 01:45 PM

Quote:

Originally Posted by Poink88 (Post 460064)
silver, guns and ammo

^that.

For the past couple years I've been collecting pre-1964 dimes and quarters. They aren't as easy to find as they once were though. You can still find some .999oz silver casino tokens on eBay for less than the cost of 1oz. of silver.

Poink88 03-08-2011 01:55 PM

While I target bullion silver (99.9% pure silver) and preferably legal tender like Silver Eagles and Canadian Maple Leaf, I opened my net and got a few sterling (92.5% silver) collectible sets for cheap (less than spot) from eBay. That was back when silver was less than $18/oz too.

One of the set is 97 oz pure silver (after factoring .925 from total weight) :cool:

bkt 03-08-2011 10:07 PM

I used to buy gold and silver, but it's down to mostly just silver these days with prices being where they are.

Short answer to your question: it makes a helluva lot of sense to have a store of wealth in something other than paper currencies (that includes stocks). I still have my Roth IRA and my 401k at work, but I buy silver every month or two.

It was great when it was between $4 and $9 per ounce. Now it's over $36. But when you consider the ratio of value for gold to silver has held steady at 1:16 for several thousand years, with gold priced where it is silver should cost in the neighborhood of $90/oz. So it's still cheap!

Apmex has been a great online source -- prices over spot are better than I can get locally and they're quick and you get what you ask for.

Incidentally, don't buy any bullion that doesn't have the purity and weight on it.

JonM 03-08-2011 11:53 PM

when the economy is tanking isnt the time to buy precious metals. even if it goes triple what it is now soon as the current economic cycle swings the other way the price of metals will drop thru the floor overnite.

the time to buy was 3-4 years ago BEFORE the crunch. when the price plummets thats when ill buy metals.

Poink88 03-08-2011 11:58 PM

Quote:

Originally Posted by JonM (Post 460538)
when the economy is tanking isnt the time to buy precious metals. even if it goes triple what it is now soon as the current economic cycle swings the other way the price of metals will drop thru the floor overnite.

the time to buy was 3-4 years ago BEFORE the crunch. when the price plummets thats when ill buy metals.

You are right if the dollar doesn't go belly up and it recovers. The way we are spending and the rate our debts are rising...I doubt it.

Most likely, our government will default on our debts and replace the dollar eventually.

I hope I am mistaken.

jca1 03-09-2011 12:46 AM

There is something that will never be worthless, I think it is:

Food and the ability to trap, shoot, clean, cook, grow, catch, harvest and preserve it.



Everything else is up in the air if you ask me. I doubt Gold and silver and other precious metals will ever be worthless but if the SHTF big time, the ability to survive will be far more valuable.

I won't buy any gold or silver until that market tanks and people start panic selling it for cheap. You can believe that someone is getting rich off gold, but it ain't you and me.

Poink88 03-09-2011 01:27 AM

I do what little I can and prepare for what I fear might happen. You do as you please. :)

Cnynrat 03-09-2011 01:32 AM

I'm new to the world of precious metals as an investment vehicle. I've been thinking I should put some of my resources there, but I'm a little concerned about whether I'd end up buying at or near the peak.

What do you guys think about buying pre-1965 silver coins? They don't have the purity marked on them, but should be well known that they are 90% pure. Bulky to store, but they come in nice small units of value which would make trading them easier.


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