# Precious Metals



## [email protected]° (Jun 16, 2004)

With the uncertainty of inflation and the value of precious metals going up and up I have decided to invest in silver.

Gold has gotten insanely expensive although there is speculation it will go higher it is a little too rich for my budget.

Silver compared to gold is under priced and there is talk of it going to over $200. an ounce.

I have a dealer a few blocks from where I work in NYC and I can walk in any time they are open and buy as much or as little as I like in various forms. The fee is $3. an ounce over spot for bars, and $5. for silver eagle coins.

I am cashing in my pocket change for bullion tomorrow, and plan to buy a few ounces a week.


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## rchan11 (May 6, 2004)

I've been buying gold trust stocks the last couple of years.


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## ICEE (Feb 3, 2007)

Yes I have quite a few silver and gold bars but I never planned on selling them.


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## Piranha Dan (Nov 11, 2007)

Now is absolutely, positively the WRONG time to buy. Wait till the price drops.


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## rchan11 (May 6, 2004)

Piranha Dan said:


> Now is absolutely, positively the WRONG time to buy. Wait till the price drops.


That's what I said when gold was at $960 an oz.


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## 94NDTA (Jul 14, 2003)

rchan11 said:


> Now is absolutely, positively the WRONG time to buy. Wait till the price drops.


That's what I said when gold was at $960 an oz.
[/quote]
What is it now?


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## ZOSICK (May 25, 2005)

94NDTA said:


> Now is absolutely, positively the WRONG time to buy. Wait till the price drops.


That's what I said when gold was at $960 an oz.
[/quote]
What is it now?
[/quote]

I believe it's in the $1,450 range.


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## r1dermon (Mar 9, 2005)

now is definitely the wrong time to buy gold. you're seeing a temporary hike because of the libya crisis, along with gas...gold will fall a solid 5-7% in the coming month, but i honestly think it'll go progressively higher as the situation draws out, but when it's settled, it's going to crash back to its already inflated price.

silver on the other hand is a great hedge right now. it is held 4 or 5:1 etfs:comex, which just a decade ago was 90% comex 10% everything else. ETF's are long term investments generally, which means that silver held by ETF's is not being sold. marketable silver is dwindling fast, pushing the price upwards. silver mining is dwindling even as industrial demand is increasing. it's a catch-22 in a way. as a percentage, you'll stand to make much more on silver than on gold, and lose much less. gold has been bought up by the masses and IMO, will crash 50% in the not so distant future. once confidence in the economy is restored, you're going to see a MASSIVE sell off of gold. people trying to beat the rush and get out with their shirts. it's not going to happen and a lot are going to lose their asses. too many undiversified portfolio's holding 50% or more on a volatile commodity that has seen it's height reached within a decade from a low. there's no possible way to sustain that index unless the market remains unstable. IMO, it can't go on forever. the market works in cycles, and this one is nearing the end.

i do like silver though, i think it's a good buy right now given current conditions...although i'd definitely check the market daily if i had significant holdings, just to make sure i beat a selloff.


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## Piranha Dan (Nov 11, 2007)

^^Good post, although if I bought now I'd check the market HOURLY. You're asking to get screwed in a crash situation. Just to volitile right now for my tastes, I sold mine when it hit $30 a few months ago and banked the cash for when it drops (and it's going to drop hard when it does).


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## [email protected]° (Jun 16, 2004)

r1dermon said:


> now is definitely the wrong time to buy gold. you're seeing a temporary hike because of the libya crisis, along with gas...gold will fall a solid 5-7% in the coming month, but i honestly think it'll go progressively higher as the situation draws out, but when it's settled, it's going to crash back to its already inflated price.
> 
> silver on the other hand is a great hedge right now. it is held 4 or 5:1 etfs:comex, which just a decade ago was 90% comex 10% everything else. ETF's are long term investments generally, which means that silver held by ETF's is not being sold. marketable silver is dwindling fast, pushing the price upwards. silver mining is dwindling even as industrial demand is increasing. it's a catch-22 in a way. as a percentage, you'll stand to make much more on silver than on gold, and lose much less. gold has been bought up by the masses and IMO, will crash 50% in the not so distant future. once confidence in the economy is restored, you're going to see a MASSIVE sell off of gold. people trying to beat the rush and get out with their shirts. it's not going to happen and a lot are going to lose their asses. too many undiversified portfolio's holding 50% or more on a volatile commodity that has seen it's height reached within a decade from a low. there's no possible way to sustain that index unless the market remains unstable. IMO, it can't go on forever. the market works in cycles, and this one is nearing the end.
> 
> i do like silver though, i think it's a good buy right now given current conditions...although i'd definitely check the market daily if i had significant holdings, just to make sure i beat a selloff.


That is why I am buying silver.

And I am not buying it for short term either.

I plan to hold it long term unless all hell breaks loose and in that case I'd rather be holding silver than US Dollars.

I have been watching silver go up DAILY! It has gained nearly $8 an ounce in the last 30 days.


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## 94NDTA (Jul 14, 2003)

Any good websites or info/books I can read up on for investing in metals?

I have wanted to do this for a while now.


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## [email protected]° (Jun 16, 2004)

94NDTA said:


> Any good websites or info/books I can read up on for investing in metals?
> 
> I have wanted to do this for a while now.


This is the dealer I use in NYC: http://www.bulliontradingllc.com/


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## r1dermon (Mar 9, 2005)

commodities are typically one of, if not THE most volatile sectors in the market. my gods honest best advice is to invest in funds which are long on them. look into a DBC fund from deutche bank. they're heavily weighted on commodities, but they are more diversified, so it isolates itself from temporary market shifts in other sectors. if i had millions of dollars and didn't care about losing a bunch, but wanted only to store that wealth...metals are fine...but until then, ETFs are the way to go for middle-class investors.


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## ZOSICK (May 25, 2005)

I've got a buddy thats done VERY well with Copper futures over the last ten years...Oddly he owns a plumbing and electrical supply houses.(work with what you know)


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## wisco_pygo (Dec 9, 2009)

ive been buying gold since it was around $400/oz, and silver since 2008. people told me i was nuts when i started doing it, and besides 2008, i think the gold market has climbed each year. i keep laughing to myself as the value of our dollar goes down, inflation causes our food prices to go up, our bond market weakens, and precious metals keep rising. domestic stocks and financials are toxic assets as far as im concerned bc if the dollar poops out so does their inherent value. im in precious metals and foreign currencies.

its not a way to make yourself rich, but if you have extra $ to invest, its a great way to protect yourself against central banking institutions that have a policy of decreasing the value of your currency.

reasons to invest in precious metals: fiat currency, derivatives, fractional reserve banking.


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## r1dermon (Mar 9, 2005)

wisco, it's also a good way to stick it to them in the case of silver.


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## [email protected]° (Jun 16, 2004)

I picked up 10 Troy ounces of silver this morning for $375. out the door with commission.

I will prolly buy another 5 next payday...

I amn LONG TERM with these purchases. I don't plan to sell for 30+ years.

I hope to acquire thousands of ounces over time to be locked away until I retire.


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## 94NDTA (Jul 14, 2003)

[email protected]° said:


> I picked up 10 Troy ounces of silver this morning for $375. out the door with commission.
> 
> I will prolly buy another 5 next payday...
> 
> ...


isn't silver REALLY high right now? If you were thinking long term, wouldn't it make more sense to wait till it crashes again and THEN buy as much as you can?


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## greenmonkey51 (Aug 16, 2004)

Have to agree silver is at a 20 year high right now, wrong time to buy. With how volatile metals can be its not a great long time investment. Buy low and sell when you sense a peak.


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## r1dermon (Mar 9, 2005)

my point is that buying metal is not an investment...its a hedge. buy low sell high as always, but adjusted for inflation, your return is going to be non-existent or minimal. long-term US treasuries have historically (and by that i mean, over the last 70 years) brought the second highest returns in the market out of anything other than the s&p 500, over the same time period. that's a solid investment. from 1926-2010, the s&p 500 brought an average ANNUAL return of 9.8%. what metal can even touch that? answer: none.


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## wisco_pygo (Dec 9, 2009)

the bond market is a losing horse right now. we're 14 trillion in debt, and just this year our deficit will be 1.2 or 1.5 trillion. the bond bubble is about to burst my friend.

historically our treasury/bond market has been great bc of our triple A rating. however, r1, right now the bond market is a bubble- wait for it to pop, just like the housing market did a few years back. when the trillions in bad paper we just put out comes back as more toxic malinvestment, other nations will discontinue the purchasing of our debt. we'll see the chinese, the russians, and India begin to use their own currency to buy oil and other goods; thats when its going to hit the fan.

even if you had a couple million in the bond market, what are you going to do with that if the dollar takes a dump? cash out and take a wheel barrow full of dollars to get groceries. don't think it could it happen? two words: weimar republic.

a couple features are certain with currency: gold is not 100% stable, but paper money fails everytime.

the industrial revolution began and was facilitated under a gold standard, so its quite plausible to move back that way if the currency fails.


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## r1dermon (Mar 9, 2005)

watch for a selloff in silver...you heard iit here first.


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## r1dermon (Mar 9, 2005)

just an FYI, SLV,the largest siilver holding ETF sold off 7.8 million oz of silver...their shares have fallen 8 dollars in 2 days.


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## Piranha Dan (Nov 11, 2007)

The rollercoaster just topped the hill.....not sure if the track at the bottoms finished or not.....


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## r1dermon (Mar 9, 2005)

people on the silver heroin bus should really be paying attention right now...the dollar hasn't exactly inspired confidence, which means hey, this MIGHT be a short term correction...but it's one hell of a correction if it is...it just broke it's lower support [email protected] 40 dollars and hasn't showed signs of stopping. big ben is set to suspend QE next month...foreign markets are raising interest rates as we sit here and let the dollar fizzle...you cannot ignore major investment firms selling off their stake in silver however...kitco has already corrected their hard asset values. time to buy? not sure, time to sell? almost definitely. IMO. given the trend, and the information from the last few days of trading, you're going to be able to buy back in at 30 dollars...but you're going to grab some insurance against a major crash like the world saw with the hunt brothers.


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## Guest (May 4, 2011)

Go out and buy silver, crash Merrill Lynch and your corrupt fed.


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## r1dermon (Mar 9, 2005)

silver gets POUNDED down again. now closing in on 30 with no signs of stopping. government will release bleak jobs report on friday which will further pile drive silver. oil had its largest one day drop in 2 years, down under 100 a barrel. demand is down.

on that note, gas rose to a natl. average of 3.98.5. oil goes down sharply, gas rises. hahaha. i love this cuntry.


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## ZOSICK (May 25, 2005)

r1dermon said:


> silver gets POUNDED down again. now closing in on 30 with no signs of stopping. government will release bleak jobs report on friday which will further pile drive silver. oil had its largest one day drop in 2 years, down under 100 a barrel. demand is down.
> 
> on that note, gas rose to a natl. average of 3.98.5. oil goes down sharply, gas rises. hahaha. i love this cuntry.


Like I said before buy copper


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## r1dermon (Mar 9, 2005)

copper has been pretty volatile as of late and steadily falling for some time. once construction picks up, so to will copper, but until then, i'd hold on to my purse.


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## ZOSICK (May 25, 2005)

R1, You are not tracking copper over the long term! Try tracking copper from 2001 to present and I'm WINNING









Sell 30% in the late spring and buy 50% in late fall


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## r1dermon (Mar 9, 2005)

didn't disagree with you...i'd wait a few more weeks though until i buy any metal. copper is seeing a correction...


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## diddye (Feb 22, 2004)

r1dermon said:


> silver gets POUNDED down again. now closing in on 30 with no signs of stopping. government will release bleak jobs report on friday which will further pile drive silver. oil had its largest one day drop in 2 years, down under 100 a barrel. demand is down.
> 
> on that note, gas rose to a natl. average of 3.98.5. oil goes down sharply, gas rises. hahaha. i love this cuntry.


It isn't directly affected instantly...usually its like a couple weeks delay.


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## r1dermon (Mar 9, 2005)

oh I know...these prices are for june delivery.


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## Guest (Dec 30, 2013)

how is this working out for you folks?


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## ACrowe25 (Sep 23, 2011)

Lead is my form of previous metal. Over 1,000 lbs on hand.


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## Umadbro (Sep 2, 2013)

Nod and smile


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## Ægir (Jan 21, 2006)

ACrowe25 said:


> Lead is my form of previous metal. Over 1,000 lbs on hand.


Hope its copper jacketed


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## ACrowe25 (Sep 23, 2011)

Ægir said:


> Lead is my form of previous metal. Over 1,000 lbs on hand.


Hope its copper jacketed
[/quote]

Why? Please visit "castboolits.gunloads.com".

A hand casted lead boolit is the most efficient bullet to ever be made. Don't believe me? I can send pictures of the last 6 deer I took with a self cast 44 mag 240 gr SWC boolit from "garbage wheel weights".


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