Let me tell you why not to invest in silver and gold bullion..
InTheRaw
Posts: 57
At first, it sounds like a great idea...
Buy low, sell high is the code of conduct....But it doesnt happen like that in real life panic..
I recently inquired about silver, gold, platnium prices with my local bullion dealer.
I have not been buying anything for 10 months or more....just sitting on my bullion..
As I see the BIG decline in ALL metals drop to a all time low (25 yrs or so) ,
I call my local dealer and tell him I want to buy $50,000 in assorted bullion. Not just on paper, in cold hard bullion.
He tells me, NO CAN DO. ! wtf? He says NO ONE is SELLING, including the US MINT. As most of you found out, no one was selling.
WHY? easy, they were in too deep. The US Mint? they would be depleted of their backed assests.. I heard china placed a bid on every single
ounce of silver,gold,platnium from the us goverment/mint. And the mint had to turn them down. Going against their very own contract with every distributor.
So, what is the point to this? you buy bullion (or worse a proof or a limited production) coin, and when times go bad, they wont SELL at the price of current spot/
commodities
. and
who is to buy? the coin dealers who themselves have way to much in bullion and will give you current downward sales in spot on silver, gold, etc..
BUT YOU BOUGHT IT AT HIGHER PRICES, UNLESS BOUGHT 20 yrs or so ago.....
An unless your retarded, Only if you bought silver, gold, platnium, at 1980 prices (Or earlier), will you make a slight profit, (I haVENT CHECKED THOSE Era's. please check)
So, It just makes logic, If you would of HELD on to your cash, you would of been fine. CASH is King as far as im concered , unless someone can give me a
different perspective..
Buy low, sell high is the code of conduct....But it doesnt happen like that in real life panic..
I recently inquired about silver, gold, platnium prices with my local bullion dealer.
I have not been buying anything for 10 months or more....just sitting on my bullion..
As I see the BIG decline in ALL metals drop to a all time low (25 yrs or so) ,
I call my local dealer and tell him I want to buy $50,000 in assorted bullion. Not just on paper, in cold hard bullion.
He tells me, NO CAN DO. ! wtf? He says NO ONE is SELLING, including the US MINT. As most of you found out, no one was selling.
WHY? easy, they were in too deep. The US Mint? they would be depleted of their backed assests.. I heard china placed a bid on every single
ounce of silver,gold,platnium from the us goverment/mint. And the mint had to turn them down. Going against their very own contract with every distributor.
So, what is the point to this? you buy bullion (or worse a proof or a limited production) coin, and when times go bad, they wont SELL at the price of current spot/
commodities
. and
who is to buy? the coin dealers who themselves have way to much in bullion and will give you current downward sales in spot on silver, gold, etc..
BUT YOU BOUGHT IT AT HIGHER PRICES, UNLESS BOUGHT 20 yrs or so ago.....
An unless your retarded, Only if you bought silver, gold, platnium, at 1980 prices (Or earlier), will you make a slight profit, (I haVENT CHECKED THOSE Era's. please check)
So, It just makes logic, If you would of HELD on to your cash, you would of been fine. CASH is King as far as im concered , unless someone can give me a
different perspective..
0
Comments
If a seller wont sell at a lower price, and a buyer wont buy at a higher price, then no market is made.
Why dont you just bump it up to 80K and take delivery of a 100 oz bar on the COMEX?
No need to pay a dealer a premium. Just 50$ for a delivery fee...
siliconvalleycoins.com
<< <i>An unless your retarded, Only if you bought silver, gold, platnium, at 1980 prices (Or earlier), will you make a slight profit, (I haVENT CHECKED THOSE Era's. please check)
So, It just makes logic, If you would of HELD on to your cash, you would of been fine. CASH is King as far as im concered , unless someone can give me a
different perspective.. >>
And unless you're retarded, only if you bought silver, gold, or platinum at 1980 prices (or earlier), will you make a slight profit. (I haven't checked those eras. please check)
So, it just makes logic, if you would have held on to your cash, you would have been fine. CASH is King as far as I'm concerned, unless someone can give me a different perspective
The US mint has dealers who are OBLIGATED to sell at spot plus %, so I want to deal with them.
They did sau their were only 5 distributors to the US market. And they wouldn't sell to them.
Well, I don't want to get into those details. I want the US minbt to HONOR their agreement.
Obviously, they don't.
I don't own a lot and with I had cash for more, but I have a small stash and it seems to be doing ok.
Jim
and NOW, they are AT 1980 prices or higher hopefully, you sell for a slight premium. your not that smart is what im saying. im saying hold onto
your bullion.
that is not a good return on investment at all IMO.......
WHEN times go bad, your suppose to be able to sell your gold and silver, platnium at hopefully at a profit.
BUT NO, !!! you will be ONLY be able to take what CASH will pay for it. Don't fool yourself.
They dont take GOLD at the grocery store. The local coin dealer knows this. Of course if gold is UP, you can be payed your profit.
But let me tell you, when times go bad, Gold will be worth nothing.!! And you will take a LOSS !! WHY???
Because we know your wanting CASH for it. you will one day.
PAID YOU'RE
YOU'RE
many specific macroeconomic events which primarily involve infla-
tion. Generally speaking if you're doing well with gold the econo-
my is not doing well.
Silver is an investment. I believe it is a good investment because
it is a depleting resource and it will do best as technology improves
and the economy is strong. Silver is best as a long term investment
for myriad reasons and this applies even when the economy is strong.
Silver probably won't go up until there is a shortage in the factories
because human nature just works this way.
Gold was $260/oz August 2001. Its now $860ish.
So I'm a little confused:
1) "If you would of HELD on to your cash, you would of been fine. CASH is King as far as im concered"
2) "what im saying. im saying hold onto your bullion."
Please clarify.
BTW: Welcome !!!
There are many large market makers who buy and sell gold, silver and platinum on a daily basis. You are not a hostage to a local coin dealer.
There is a spread between their buy and sell prices. When demand for physical metals is high, these market makers will buy at a premium over spot and sell at a higher premium. When demand for physical metal is low, the same kind of spread exists, although they will pay below spot and sell close to spot.
Unless you are unable to a) use a computer and b) are located in an area without postal service, you have access to these market makers. Examples would be Kitco, APMEX and Tulving, but there are several more.
I started accumulating all sorts of physical metal back in 1999-2000, and while I have sold some along the way (by the way profiting handsomely), my cost basis for what I still have is still 30% lower than the current market. I continue to hold cheifly because I have no current need for the greenbacks, and the metals are a form of insurance against gross inflation.
Now, take this thread to the PM forum!
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
I hatew to say it , but it is true, no one will sell it to you at down times.. and you can only sell it at a prodit in good times..
Someone doubt me...
http://www.federalreserve.gov/releases/h6/Current/
Numbers are up compared to a year ago but really doesn't look like the FED has done much to me. I'm starting to think the "stimulus" (wealth redistribution from taxpayers to bankers) won't be enough.
I will never get over a penny at the grocery store in hard times. I am getting rid of every demonitation of coin in the future,
GIVE ME CASH..!!!
<< <i>yu just admitted to holding 30% at a loss, enough said.....and you bought it long ago... >>
Please re-read my post using ALL of your critical thought skills:
"my cost basis for what I still have is still 30% lower than the current market."
For those from Rio Linda, that means I can currently sell for $10 what I bought for $7 - a profit of $3.00. And that is AFTER selling - at a profit - along the way.
Making money is DEFINITELY NOT recommended for the ignorant. Sheesh. Stick to your guns, buddy. I'm sure that you'll do JUST FINE.
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>YOU'RE
PAID YOU'RE
YOU'RE
It's an ambitious undertaking. I was reminded of the bank teller and Woody Allen's illegible hold-up note.
<< <i>
<< <i>YOU'RE
PAID YOU'RE
YOU'RE
It's an ambitious undertaking. I was reminded of the bank teller and Woody Allen's illegible hold-up note. >>
I flashed on the same thing
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
but given that, I am talking about bullion rates today and tomorrow... where real men make profits..
Not a treehugger waiting 8 yrs make 3.00 profit on a commerative....
<< <i>At first, it sounds like a great idea...
Buy low, sell high is the code of conduct....But it doesnt happen like that in real life panic..
I recently inquired about silver, gold, platnium prices with my local bullion dealer.
I have not been buying anything for 10 months or more....just sitting on my bullion..
As I see the BIG decline in ALL metals drop to a all time low (25 yrs or so) ,
I call my local dealer and tell him I want to buy $50,000 in assorted bullion. Not just on paper, in cold hard bullion.
He tells me, NO CAN DO. ! wtf? He says NO ONE is SELLING, including the US MINT. As most of you found out, no one was selling.
WHY? easy, they were in too deep. The US Mint? they would be depleted of their backed assests.. I heard china placed a bid on every single
ounce of silver,gold,platnium from the us goverment/mint. And the mint had to turn them down. Going against their very own contract with every distributor.
So, what is the point to this? you buy bullion (or worse a proof or a limited production) coin, and when times go bad, they wont SELL at the price of current spot/
commodities
. and
who is to buy? the coin dealers who themselves have way to much in bullion and will give you current downward sales in spot on silver, gold, etc..
BUT YOU BOUGHT IT AT HIGHER PRICES, UNLESS BOUGHT 20 yrs or so ago.....
An unless your retarded, Only if you bought silver, gold, platnium, at 1980 prices (Or earlier), will you make a slight profit, (I haVENT CHECKED THOSE Era's. please check)
So, It just makes logic, If you would of HELD on to your cash, you would of been fine. CASH is King as far as im concered , unless someone can give me a
different perspective.. >>
Are you drunk?
<< <i>I re-read. you bought over 8 years ago to make a 3.00 profit. I am glad i am not married to you.
but given that, I am talking about bullion rates today and tomorrow... where real men make profits..
Not a treehugger waiting 8 yrs make 3.00 profit on a commerative.... >>
OK, so my example oversimplified it for you. Let me say it in terms that a "real man" of obvious means might understand:
Of the portion of my portfolio which is represented by physical metal, I have - currently - an unrealized 42% profit, with metals at $10 silver and $800 gold. My cost basis is dollar cost averaged from 1999.
The dollar value of my profit is, however, somewhat greater than $3.00. Regardless, I still like broke-minded people. I also liked Ford at $1.60 and bought a gob of it
Edited to cross my "t"
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>
<< <i>I re-read. you bought over 8 years ago to make a 3.00 profit. I am glad i am not married to you.
but given that, I am talking about bullion rates today and tomorrow... where real men make profits..
Not a treehugger waiting 8 yrs make 3.00 profit on a commerative.... >>
OK, so my example oversimplified it for you. Let me say it in terms that a "real man" of obvious means might understand:
Of the portion of my portfolio which is represented by physical metal, I have - currently - an unrealized 42% profit, with metals at $10 silver and $800 gold. My cost basis is dollar cost averaged from 1999.
The dollar value of my profit is, however, somewhat greater than $3.00. Regardless, I still like broke-minded people. I also liked Ford at $1.60 and bought a gob of it
Edited to cross my "t"
I have a feeling that all of the explanation in the world isn't going to help anything in this case. I understood what you said the first time you said it. Explaining it more isn't going to help this guy/girl.
<< <i>
<< <i>
<< <i>I re-read. you bought over 8 years ago to make a 3.00 profit. I am glad i am not married to you.
but given that, I am talking about bullion rates today and tomorrow... where real men make profits..
Not a treehugger waiting 8 yrs make 3.00 profit on a commerative.... >>
OK, so my example oversimplified it for you. Let me say it in terms that a "real man" of obvious means might understand:
Of the portion of my portfolio which is represented by physical metal, I have - currently - an unrealized 42% profit, with metals at $10 silver and $800 gold. My cost basis is dollar cost averaged from 1999.
The dollar value of my profit is, however, somewhat greater than $3.00. Regardless, I still like broke-minded people. I also liked Ford at $1.60 and bought a gob of it
Edited to cross my "t"
I have a feeling that all of the explanation in the world isn't going to help anything in this case. I understood what you said the first time you said it. Explaining it more isn't going to help this guy/girl. >>
Yeah, but it's fun in a +1 post count sort of way
Plus, I like it when Joe Lunchbucket wants to come out and play
Check out my current listings: https://ebay.com/sch/khunt/m.html?_ipg=200&_sop=12&_rdc=1
<< <i>
<< <i>
<< <i>
<< <i>I re-read. you bought over 8 years ago to make a 3.00 profit. I am glad i am not married to you.
but given that, I am talking about bullion rates today and tomorrow... where real men make profits..
Not a treehugger waiting 8 yrs make 3.00 profit on a commerative.... >>
OK, so my example oversimplified it for you. Let me say it in terms that a "real man" of obvious means might understand:
Of the portion of my portfolio which is represented by physical metal, I have - currently - an unrealized 42% profit, with metals at $10 silver and $800 gold. My cost basis is dollar cost averaged from 1999.
The dollar value of my profit is, however, somewhat greater than $3.00. Regardless, I still like broke-minded people. I also liked Ford at $1.60 and bought a gob of it
Edited to cross my "t"
I have a feeling that all of the explanation in the world isn't going to help anything in this case. I understood what you said the first time you said it. Explaining it more isn't going to help this guy/girl. >>
Yeah, but it's fun in a +1 post count sort of way
Plus, I like it when Joe Lunchbucket wants to come out and play
+1
<< <i>CASH is King as far as I'm concerned, unless someone can give me a different perspective. >>
Perspective #1: A weak dollar.
Perspective #2: Inflation.
Cash is nice, and I'm sitting on a bunch (relatively speaking), but bullion is a great hedge against the aforementioned perspectives, IMO.
Respectfully...Mike
<< <i>Of the portion of my portfolio which is represented by physical metal, I have - currently - an unrealized 42% profit, with metals at $10 silver and $800 gold. My cost basis is dollar cost averaged from 1999. >>
We have a remarkably similar position -- only you've been at four years longer than I.
<< <i>the only hedge your feeling is between your legs....good luck.!!! >>
And here I thought you could come up with a better argument than that. I apologize & won't make that mistake again. Take care...Mike
Let's begin by looking at some "for examples", shall we?
Speaking strictly from my own real life perspective, I can say that
1- Cash hidden 40 years ago (say $100,000.00) was a LOT of money back then, when it was hidden, however by Today's standards this same figure is NOT WORTH what it was 40 years ago. This is just plain Common Sense.
2- 40 years ago, as a school boy, I got a whole $2 a week "allowance" and that $2 went a long way!
Coca-Cola was 10 cents, a bag of regular chips or a candy bar was a nickel for either. Bar-B-Que chips cost a dime. Any extra money I got was by working for ir on the side, as a paperboy, working at a full service filling station, washing cars. Oh, BTW, even unto the late 70s Gas was like 27.9 cents a Gallon.
If you're old enough to remember this then you know where I am coming from.
3- 1968 - A Brand spanking New Chevrolet Chevelle SS 396 cost LESS THAN $5,000. Try to find a similar type modern car being churned out now - we're looking at easily ten times this amount - $50,000 AND THE BIG 3 HAS THE NERVE TO HOLLER "BAILOUT"! Are you kidding Me?
Re: Cash is King Theory; Real life example
My Dad was a salesman and earned a 2% commission. TWO WHOLE PENNIES ON THE DOLLAR however he was fortunate to sell something a LOT of people like and use DAILY!
He ALWAYS brought his paycheck Home and gave it to my Mother who knows how to shop & stretch a dollar. From this amount, he was given HIS Allowance. Dad was very thrifty but certainly had many nice articles for himself, us kids and his wife, our Mother. He dressed extremely nicely and we certainly did not have rags or second hand/ second rate clothing, either.
With this in mind, when he retired, he saved, out of his allowance ALONE, over $200,000. The Home and everything he owned - HE OWNED and owed no one anything!Now, do the Math. How much must a man sell to be able to SAVE $200,000?
I guess this is my point. If you stash money away in the mattress or some coffee can (whatever) I can personally GUARANTEE that when you take it out, it will NOT be worth the amount it was when you initially stashed it. $200,000 was a nice chunk of change when it was socked away but that same amount was NOT EVEN REMOTELY WORTH the same as when it was saved, years earlier.
It is my position that you can have a hoard of anything - stack it to the ceiling if you like - but ... what good is it if no one has MONEY to buy it from you?
It's worth NOTHING, A pile of Gold is worthless if no one has MONEY to buy it!
Pardon any & all typos
Free-market capitalism should be a religion, not a science. For starters there's no such thing as a free market... and if there were capitalists would try to monopolize it... but anyways...
We need the debate!
Yeah, just wait till RoadRunner gets a hold of this one. Storm and RR's running debate will be possibly meek in comparison.
<< <i>Cash is not king. Cash is not backed by anything but good faith and hope.[/q
People multiply.
Towns grow till they become Cities.
Everyone wants, seeks and deserves a place to call Home.
Money IS and Forever WILL BE made in Real Estate.
The only other "sure bet" is Death.
Be a Mortician. Nobody gets out Alive!
Invest in Caskets & Urns as pretty soon Real Estate will be too precious to "waste" on corpses!
JMHO - but True!
If I had 3 choices of things to invest in,
they would be Marlboro, Budweiser and Tampax.
Chew on THAT a while!
Edit for spelling corrections - what else is new!
Done, already and here is the Beauty of it.
My Family helped to "found" where I live way back in the 1750s!
12 original founding families divided up huge & I DO mean HUGE tracts of land.
In the immediate are are 3 Salt Domes/ Salt Mines - 2 moreso than the 3rd.
Any Geologist worth his salt will know that were there is a salt dome, there is oil,
It's a given. Google Lake Peigneur and see the disaster that unfolded on Jefferson Island.
Some of our property is RIGHT THERE!
I'm surprised a Movie hasn't been made about how the entire contents of this massive Lake
EMPTIED ITSELF/ drained into the salt dome as the top of the dome was penetrated by Texaco
drilling Company.
Today - in fact for many years now, Directional Drilling is used as opposed to dismantling the rig
and moving it over. Drilling tecnology can literally extend a string of drill pipe in all sorts of directions and at very great depths and lengths.
A rig can be several miles away and can be tapping oil right underneath you.
Google Jefferson Island and or Lake Peigneur and see the "disaster" as it unfolded back in the 80s when there wan't the video technology/ cam corders as there are today. This Lake is a direct outlet to the Gulf of Mexico and has quite a History, via the Delcambre Canal.
Great idea, coinboy.
So when paper and gold is not moving what do we invest in next? Plastic?
Now my head really hurts.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
they would be Marlboro, Budweiser and Tampax.
Chew on THAT a while!
<< <i>If I had 3 choices of things to invest in,
they would be Marlboro, Budweiser and Tampax.
Chew on THAT a while!
You might want to throw some viagra in there somewhere.
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
As I see the BIG decline in ALL metals drop to a all time low (25 yrs or so) ,
huh?
Steve
Ya know, Leo, that might not be a bad idea!
<< <i>
<< <i>Cash is not king. Cash is not backed by anything but good faith and hope.[/q
What is gold backed by?