Easy question: just tell me what to do!

doh

Buy gold? Buy silver? Avoid PMs for now and wait for the pullback? Keep cash? Continue buying numismatic coins worth hundreds of times their intrinsic value?

And don't give me any of that "do what you want and/or like" stuff. I need answers people!

gsa1fan

BUY Au= GOLD

Coll3ctor

At todays prices silver will come out the winner.

FistFullOfDollars

I continue to add silver and/or gold twice a month. The silver consists of pure rounds or 90%, the gold is typically AGE or bars. It typically is not much but over time the stack does get bigger. Do what you can do in increments, try not to keep up with the "pm joneses" and stay out of debt.

jmski52

Stick your little toe in the pond and start slowly. But don't delay. And don't worry about price fluctuations.

Formulate your strategy and just do it.

There is room in a plan for both numismatic coins AND bullion. The reason that I first got into bullion was BECAUSE of the huge premiums that stood in the way of me and the coins I wanted.

Let's face it, a numismatic premium has decades of dealer markups already built into the price. Now, if the coin has some historical significance of some sort that is particularly interesting to YOU, then I suppose it is worth the premium. But, by and large - numismatic coin prices are supporting a whole industry. It may be a house of cards, or maybe not. I'm not one who has that answer.

I simply find it easier to justify the purchase of bullion somewhere near spot than most numismatic coins. Coin collecting is a hobby, not an investment. You sound more like an investor at this juncture.

Welcome!

doh

Thank you for all the advice so far...it's all very good. Except gsa1fan which might be a little biased

I agree with just dipping my toe in which is what I've done...1 oz gold, 30 ounces of silver. Nothing huge, just adding a little here and there and I never go into debt to buy it.

gsa1fan

my thinking is gold is not going to get any cheaper and silver is still a good buy under $20oz.

You have a good start!

Justacommeman

I buy every month to get me to a percentage of asset allocation. I've steadily raised raised the allocation in pm's over the past two years.

MJ

mhammerman

"Let's face it, a numismatic premium has decades of dealer markups already built into the price."

Yepper

percyb

Buy some silver and some gold now. Add to positions on any pull backs.

Fountainhead

"Buy gold? Buy silver?..."

These are simple questions, not easy ones!

57loaded

had wished for buying Ag when it was 'sinfully' cheap although the yellow metal still has my fancy

Ag is still fine

Cash...well if you have a stash that's okay, too...for now

coynclecter

It has been a difficult ride even for those of us who firmly believe in PMs. If you are not confident that gold/silver will go up in the long term then you will bust a gut and rush to sell everytime the price dives.

In short, PMs may not be for you......take a cruise.

MoneyLA

Honestly, how can anyone tell you what to buy? We don't know what your tolerance is for risk? We don't know what available capital you have to be tied up in gold or silver? Heck, we don't even know if you like gold or silver?

What I can tell you is that the metals are in an uptrend. Now, make your own decision. You know better than anyone else.

Best and cheers.

jmski52

It has been a difficult ride even for those of us who firmly believe in PMs. If you are not confident that gold/silver will go up in the long term then you will bust a gut and rush to sell everytime the price dives.

It depends on your objectives and your reasons for owning pms. I bought a green monster box when silver was peaking last year, and although I paid more than I would pay now, I'm still glad to have it.

I can sell it anytime, and if I do, it is a tax offset if I need one. It is a store of value and I don't worry about it like I would be worrying if it was money invested in stocks or bonds. It's a store of value, and yes - it fluctuates, just like the rest of my pms.

The sooner you get started, the easier it is to see that some "buys" will be high and some will be low, and the important phenomenon occurs when you discover that you have a major stash of pms that you know is going to support you when you need it. The spectacular gains that have happened in my portfolio over the past 10 years are simply a side issue.

CalicoJack

I see no change in monetary policy so why change course? I am still dollar cost averaging SLV & GLD ETFs.

Historically speaking dollar weakness lags months after that fed starts to bump up interest rates.

I buy coins for the aesthetic value mostly. I’ve gotten lucky with a couple of bullion coins purchased at spot so I keep them around.

If you want physical metal buy 90% junk silver.

OPA

Both Silver & Palladium, in my book, have a ways to go. Most so called "fortune tellers" predict that Gold will peak around $1300 in 2010 ( which is about 10% higher than what it is today) Silver & Palladium have a long way to go before they even reach their all time highs. If you feel that the auto industry will bounce back strongly, world wide, you may want to consider a few ounces of Platinum.

gecko109

<< <i>I see no change in monetary policy so why change course? I am still dollar cost averaging SLV & GLD ETFs.

Historically speaking dollar weakness lags months after that fed starts to bump up interest rates.

I buy coins for the aesthetic value mostly. I’ve gotten lucky with a couple of bullion coins purchased at spot so I keep them around.

If you want physical metal buy 90% junk silver.[/q



Just make sure you have a chair when the music stops. The ETF's are the next bubble to burst IMO.

fc

shorting them seems like as likely to pay off right now as does buying
them for the short term.

so that tells you where i stand.

CalicoJack

<< <i> Just make sure you have a chair when the music stops. The ETF's are the next bubble to burst IMO. >>



That why I play that game with ETF's not physical metal. I can sell within seconds and walk to an ATM for cash.

Until there is the political will to re-regulate the casino known as the the financial industry, more bubbles ahoy!

Bear

Government makes believe that money has value

People make believe that they believe the Government

Government issues Treasury bonds to sop up the money

and make it seem to be a AAAA gold gilt financial instrument

Drop out all items from inflation basket that have gone up in price

making it seem that we have absolutely no inflation. Jiggle with the

unemployment numbers so that folks do not realize that we have

20% unemployment and under employment and all is well indeed.

Government issues enough erzats money, to pay off entire
Federal Debt to the entire world.

How can people say that only Disney can have a Fantasy Land.

Why with no inflation, no debt, no work and no industry, we live in

a veritable heaven on earth. We can all just sit around all day and

sing Kambaya.

mhammerman

We can all just sit around all day and

sing Kambaya.

Man, there sure seems to be a lot of folk doing that lately. Best advice for the Kumbayaers...learn to bow. Sorry to take the OP off topic but...

RE: the OP, you have all you need to know in the previous replies. What do you want to do, be a bug and just accumulate a bit at a time, debt free, physical, and just use that as a part of your savings? Do you really want to get your stash out, take photos of it, look at it, add it up, play with it, swap with folks...does that seem like fun to you? Would it help you sleep better at night knowing you have your stash and no one else has any claim on it and you can turn it into Bens any time you choose to? I have to admit that it is kind of entertaining to just put a little away when you can with out stretching your budget and then get it all out every few months and play Scrooge McDuck for a couple of hours After a few years of stashing, you find you have a pretty respectable pile. And...if you happen onto a nice 1836 classic $5 at a grade you can afford and you fall prey to her charms, well, there you go.

Or do you want to buy low and sell high on a short term play? If so then you'll need to be quick and pay very good attention and tune up your prognostication skills and learn to enjoy gathering information and analyzing the data...playing requires a whole different level of game, you'll have to KEEP your head in it or pay the penalty, as in lose your money. There has been plenty of money made in this arena.

Some folk like ETF's and you can be sure they have their game on when they check their computers every morning. Some folk like Kitco pool accounts for quick play, there are dozens of ways and places to play. If you really want to game, you can get into futures and currency and an ever increasing hoard of venues. This is a high skill game in my opinion and it is not for lazy investors.

On the other hand, metals have been doing quite well and they have been a playground for anyone that likes metal. There have been nice pull backs where you can accumulate and there have been a few spikes where you had a chance to cash out and count the profits. Lately metal has just been going up at a very steady and aggressive pace and it appears that the current trend will be sustained well into next year at least. I like the current thread information re: palladium, sounds like a fair long term play.

You just have to decide what you want to do. Do you want to preserve your purchasing power and maintain your liquidity via accumulating cool metal stuff then accumulate. If you want to play with your money then play it. If you have a taste for collecting then collect. If you have no discipline or are lacking a plan then you are toast so do what Coynclecter suggested..."Take a cruise". Do something you think you will enjoy and enjoy it.

jmski52

Would it help you sleep better at night knowing you have your stash and no one else has any claim on it and you can turn it into Bens any time you choose to?

That about sums it up.

Darin

Put half in the stock market, quality blue chips, and half in gold and silver.
And before I get laughed off here, I remember several months ago saying on here there was no risk buying John Deere stock at $24, and getting negative responses. Now my Deere stock is at $52, but my silver hasn't more than doubled in that time frame.

JeremyDie1

I personally can't bring myself to buy gold at its all time high. If I had none or very little, it maybe more tempting, but for now I'm content on what I have. I still like silver and palladium. Darin on a side note, I agreed with you back then on stocks and still do. PM's are stictly insurance and stocks have been the money maker for me.

Justacommeman

<< <i>Put half in the stock market, quality blue chips, and half in gold and silver.
And before I get laughed off here, I remember several months ago saying on here there was no risk buying John Deere stock at $24, and getting negative responses. Now my Deere stock is at $52, but my silver hasn't more than doubled in that time frame. >>


You could have bought silver less then a year ago in Dec for $9 and you would have had a double. If you bought DE on that same day it would not have doubled.....You could have bought anything in the past year and you would have done well. I wouldn't fall in love with stocks. JMO.MJ

BigMoneyLewis

Silver is the logical choice . Gold will move upward as well, of course, but the buy in price is alot higher,
and the profit potential is alot lower than what we will see with Silver.
The last place to put your money would be numismatic coins. These are declining, and will continue to decline in value
in the months ahead, as people will be forced to re-think their priorities in life . Picaso paintings, Hemi 'Cudas , and 1913 V nickels
won't seem to be as important as they once were . People have already found out that their $ 750,000 house is actually
a $ 375,000 house that had been pumped up . The music is about to stop in this big ol game of Musical chairs that we like to call
the United States of America . Thanks Rothschild family ! Your devious plan has worked . America is broke .

Lewis

MoneyLA

I wouldnt short gold or silver while the trend is still "up."

Just as I wouldnt buy when gold was in a trading range-- and I waited for the breakout.... I wouldnt consider shorting this bull until it "breaks down."

I just don't see a breakdown anytime soon.

Bear

US Dollar broke well below the support level of 75

While I understand that this is Government policy,

It just makes me kinda sad, to see our National currency

treated in this way. How far the mighty has fallen. 74.28