Seeking info on trading silver paper.
Mission16
Posts: 1,413 ✭✭✭
My neighbor is interested in investing in silver. Both physical and paper. I'm a physical holder of it but know little about investing in silver on paper.
Where does one go to buy and sell non physical metals?
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easiest form is silver related ETFs and mining stocks using an online brokerage account.
Precious metal ETFs - trade just like stocks.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
That's what he's looking for.
Any advice on a broker?
I use Scottrade, happy with them.
If he's gonna open an IRA, make sure it's a Roth IRA. Money going in gets taxed as normal income but all gains and money withdrawn later are tax free.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Ameritrade. But I've got a few silver certificates issued by our government if he needs authentic paper.
Nah, what he wants to do is buy and sell silver but without the hassle of taking physical possession of it.
Then open a brokerage account and buy/sell ETFs like SLV, GLD, etc. Keep in mind that AFAIK this isn't the same kind of "paper" silver that the big boys use to hedge their positions.
Note that there are leveraged (2X and 3X) ETFs that will perform 2 and 3 times as well (or worse) as the underlying asset. One can leverage advances or declines in the underlying asset's value in many cases. Study NUGT and DUST for an example. Always be aware of exactly what the underlying asset is for an ETF. For NUGT and DUST it is the gold miners (GDX). ETFs are not limited to PMs as there are many different asset classes available. Think of ETFs as a modern, more simple mutual fund.
The advantage of PM ETFs is that they can be bought and liquidated with the push of a button (just like stocks) vs. finding a buyer, collecting payment and making delivery with the physical stuff.
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong
Silver futures now available on ebay, read the description
The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong