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Silver????, If you were INVESTING, what is the best way to go??

We all see the daily prices on the precious medals every day. Up,down,up,up,up,down,down,up,up, etc. I do not have any great amount of any of the common medals,but do have a few gold eagles,silver eagles, and the such. Just wondering how some of you INVEST your money when it comes to silver,gold,and platinum. I am not referring to coins that you enjoy or collect for your personal viewing pleasure,but only the type of medal that you INVEST in. A lot of folk seem to like the one ounce pieces of the medals. How about silver bars? Do any of you INVEST in these,and if so, what is your favorite size. What is your Rule-Of-Thumb when it comes to the purchasing price? Precious medal stocks? These were super performers last year; own any of these? Also,do any of you INVEST in U.S. Mint silver proof sets,not for the performance of the sets, but as an investment in silver? Silver, gold, or platinum; what is your favorite?

Bread to toast for a Sunday morning!!!!!!! image

Enjoy your coins!! image
"so precious life is! even to the old the hours are as a miser's coins!"
Thomas Aldrich

Comments

  • itsnotjustmeitsnotjustme Posts: 8,777 ✭✭✭
    First, start with metals, not medals!image

    Buy Low Sell High, Reduce transaction cost. I would think now is a bad time to buy silver or platinum and perhaps gold.

    If you are going to have shipping charges, charges of a few percent above spot to buy, sell a few percent below spot, it is a hard way to make money. Perhaps mining stocks when metal prices are low are a better bet.
    Give Blood (Red Bags) & Platelets (Yellow Bags)!


  • << <i>First, start with metals, not medals!image

    Buy Low Sell High, Reduce transaction cost. I would think now is a bad time to buy silver or platinum and perhaps gold.

    If you are going to have shipping charges, charges of a few percent above spot to buy, sell a few percent below spot, it is a hard way to make money. Perhaps mining stocks when metal prices are low are a better bet. >>




    itsnotjustme,
    Sorry for the slip of the thought!! I stand corrected. image
    "so precious life is! even to the old the hours are as a miser's coins!"
    Thomas Aldrich

  • How you invest depends on what you want to accomplish.

    For example.....

    Late last week Greenspan said that the US Government should invoke Means Testing before handing out Social Security to retirees who fully paid into the system for decades.

    A: Do you want to hide assets from Alan Greenspan, so you can collect your Soc Security that you paid for?

    or

    B: Do you just want to make a profit as easily as possible in this bull market?


    If the answer is B, then some form of stock is best. Recently there has been news of a Gold-based Exchange-Traded Fund (ETF). Perhaps there is a Silver one also - I haven't followed closely, so you'll have to research that yourself. Maybe symbol CEF is a place to start. Trading stock-type investments that have sufficient daily trading volume will be lower cost overall. Don't even think about trading thinly traded issues! You should be able to trade on 1% or less spread, and I don't believe there are many dealers who will physically hand over metal on that spread. In addition, you get out on about 60 seconds notice. Try that with Palladium ingots!

    If you have only a small sum of money to invest, then stock trading will be too expensive also. Perhaps selling US mint sets on ebay is OK if you can convince others to buy from you instead of www.usmint.gov.
  • DaveGDaveG Posts: 3,535
    Buying quantities of precious metals usually involves shipping and storage charges, which will eat into your profits, so some people use the options and futures markets instead.

    If you want to buy and sell precious metals, you would want to do it at the smallest possible premium to bullion value, so you wouldn't look at Silver Proof Sets, as the premium is way too high to make any money on the changing value of silver (unless, of course, silver went up 10x!).

    Check out the Southern Gold Society

  • Go to kitco.com and buy shares in either silver or gold.
  • MrSpudMrSpud Posts: 4,499 ✭✭✭
    Do you think it would be worthwhile to buy circulated silver coins out of the bargain bins at flea markets and/or coin stores as a way to build up a small stockpile of silver? I'm in the habit of picking up 1 or 2 old half dollars whenever I can find them for $2.50 which is actually quite often.

  • Oddly enough, 90% rolls sell for about $50 on ebay, so I'd say $2.50 each is OK. Especially if you were at the market anyway.

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