Silver to Soar in 2011? What did you say investment wise
- Thread starter Your_Pal
- Start date
LOL, I'm not a baller. I simply came across some cash recently, and now I'm paranoid that the money I'm sitting on will lose value. First, I wanted to buy gold, but it might be too late for that (maybe not). Hopefully, it's not too late to buy silver.
But I don't know shit about investing in general and precious metals in particular.
I'm banking with Chase, so I'll look into what they can offer.
Still, my concerns are counterfeits and storage.
I don't want to disclose to the bank what I'm storing in the box, so how can I insure the contents in case the aliens go all independence day on the bank's building?
How the fuck do the rich people do it?
I like Apmex. Their prices are out there in the open, unlike most sites. Max shipping is $25. I think it's free if you spend $10k. Very professional outfit.
You might want to take physical possession of it and bury that shit in your backyard or something. If shit ever deteriorates to the point where the dollar collapses and we have to rely on precious metals for trade, you probably won't be able to access your shit.
For gold counterfeits, use this:
The Fisch Works – Detects fake gold coins - Krugerrand, American Eagle, Maple Leaf
However, it won't work if it's one specific metal that has similar weight to gold. Can't recall which. For bullion bars, you can have them sonogramed, I believe.
Buy Gold Bullion Bars – Blanchard and Company, Inc.
I really wanna buy that but somehow I can't see gold going up much more. Have you seen the historical charts? The shit has gone vertical like a sky scraper....it's gonna come down...it has to, right?
Seems my best bet as a non-rich guy is to buy myself a silver bar. I can have a silver bar or a little spec of gold lol
I really wanna buy that but somehow I can't see gold going up much more. Have you seen the historical charts? The shit has gone vertical like a sky scraper....it's gonna come down...it has to, right?
Seems my best bet as a non-rich guy is to buy myself a silver bar. I can have a silver bar or a little spec of gold lol
if it starts getting that bad i think a can of soup will be worth more then silver
I got into the whole silver hype, the dollar will fail, etc back in November. I bought some silver to give away as christmas presents a a couple of coins for fun. They are worth less today than when I bought them then.
This was all around the buy silver kill JP Morgan stuff and all that fancy silver news. Since then I have realized that thousands of people buying a single coin is not going to topple or even dent what ever silver skeem that is going on in the market. I can't count the number of interviews I read/saw that said silver should be trading at 200-300 to keep with historical gold/silver ratio data. Well its not, and its not going to unless the people controlling the market let it.
But if you are going to buy I highly recommend apmex they are awesome.
This was all around the buy silver kill JP Morgan stuff and all that fancy silver news. Since then I have realized that thousands of people buying a single coin is not going to topple or even dent what ever silver skeem that is going on in the market. I can't count the number of interviews I read/saw that said silver should be trading at 200-300 to keep with historical gold/silver ratio data. Well its not, and its not going to unless the people controlling the market let it.
But if you are going to buy I highly recommend apmex they are awesome.
I don't own any real estate, so burying shit somewhere safe would be difficult.
Also, I'm not planning for the end of civilization. I don't believe it will get to a point of complete collapse, barter ecomomy, or anything of that sort.
But I do think USD could devalue. That doesn't mean we would all begin bartering goat skins for clicks. We would simply add a couple of zeroes to the prices of everything.
I want to make sure that if (when) that happens, I can sell off the silver, cash out and get the same value I put it and continue doing business as usual.
silver has been so good to me the last couple years. I'm buying until the gold / silver ratio starts to make more sense.
I've been in silver for years now. I plan on holding all the way through the collapse of our fiat currency. Anybody who has majority of their money in an American bank account is absolutely insane.
As to the storage part if your just keeping a few grand around either keep it in your house preferably in a large gun safe (the 700 pound ones are around $600) or put it in a safety deposit box. This brings me to a something nobody ever really talks about but always make sure you take delivery of your metals. I don't buy into these "depository's" that are run by some jackass who could make off with your silver. As a side note when you do start buying don't tell anyone you have it (including the old lady) if nobody knows you have it your chances of getting robbed goes way down.
And if your worried about counterfeits if you are brand new and cant "feel" the difference don't be afraid to pull out a magnet. Most counterfeits will be made out of cheap steal or will have some other magnetic properties, pure silver has zero magnetic properties. Most of the counterfeits are coins and are usually easy to spot. If you insist on buying coins stick with one type like the silver eagles and learn everything you can about what belongs on the coin and what doesn't.
If you are going to buy coins, if in the US stick to the Eagles they are very easy to get in and out of just remember you have a higher premium. Otherwise just stick to bars, rounds, and junk silver.
I would suggest you to invest in real estate instead of silver with that amount of money.