Do you own physical Gold or Silver or Both?

Do you own physical Gold or Silver or Both?

  • I own physical Gold

    Votes: 33 9.6%
  • I own physical Silver

    Votes: 54 15.7%
  • I own Both

    Votes: 103 29.9%
  • I own neither

    Votes: 130 37.7%
  • I only own paper metals

    Votes: 25 7.2%

  • Total voters
    345

thegmanifesto

Peacock
Gold Member
I was talking to a bunch of my friends over the weekend about all commodities mostly Gold and Silver. (Their eyes were mostly rolling to the back of their heads, but that is neither here nor there.)

I was curious to know how many people on here own physical Gold or physical Silver or Both.

Post responses below and hit up the poll.

(Side note: I always wondered how people on here did these polls, and I finally figured it out.)
 

rudebwoy

Peacock
Gold Member
Own Silver and still collecting. Why did your friends roll there eyes? I rolled my eyes when people were preaching about Gold in 2005, now look where it is at!
 

thegmanifesto

Peacock
Gold Member
"Why did your friends roll there eyes?"

I don't think people get it.

Which is kind of funny, because have always thought Commodities are easier to understand than stocks.
 

hydrogonian

Ostrich
Gold Member
I don't know much about it, other than the principle that buying assets when they are hot is a bad idea. So, if a lot of people are talking it up then its probably a good idea to either find something less hot but which will also generally rise in tandem with those metals (other metals, petroleum, etc..Im not really sure) but not crash so hard due to any type of hype fueled bubble. I've also read that there are a lot of problems with gold investment.

Here's an article by one of the few investment 'gurus' that I actually trust and respect. His focus has always been real estate, but he recently just came out with a book about investing to preserve your money in a hyper-inflationary economy. I haven't read it but I hope to. If your an investor, then any of his books are a safe buy. He's an anti-hype details oriented type of guy when it comes to investing.

Disadvantages of gold as an inflation hedge by John T. Reed

I noticed that you linked to Jim Rogers on your facebook page. He's great too, as you probably know. His books are good reads. In his first (?) book, Rogers, as a 50+ year old man, takes his 28 year old hot blonde fiancee on a motorcycle tour around the entire world with no support, crosses every continent from tip to tip, and gives invaluable investment lessons along the way while investing in stock markets that barely exist at the time in Europe and South America (ground floor)...

Edit: I see on your blog that you read Adventure Capitalist. I haven't caught up with that one yet, but mean to. Above, I'm referring to the prequel to that one.
 
Own both and still stacking, also have my money heavily invested in commodities. Been doing great for the past few years since I started...

Actually I've stopped traveling for the moment so I can concentrate on making money and putting more money into my investments, I actually canceled my Brazil trip to do this... it's tough, I need my travel fix, but I'm positive it will pay off in the near future...
 

Lief

Sparrow
I own both gold and silver. I also own PM stocks. I have owned both since about 2002-03. I am planning to buy more.

None of my friends own physical gold. If you bring up precious metals people think you're a wacko.
 

thegmanifesto

Peacock
Gold Member
hydrogonian -

Interesting article, I am going to have some of my crew look into it.

DanDeLaCruz-

Yeah, I have been going investment bonkers as well. Looking on playing this Japan tragedy.

Lief-

"If you bring up precious metals people think you're a wacko."

No doubt.
 

The_CEO

Pelican
Back in 2003 some guy cornered me at a party and told me how he was hoarding as much silver as possible. He also mentioned that his shirt has holes warn in it from the hammer of the hand gun that he always wears in a holster. He was a wacko, but i'm guessing he's a loaded one by now
 

rudebwoy

Peacock
Gold Member
Silver is down today, looks like JPM is trying there best to suppress it. I will ride the wave for a bit and see how it goes, I have given up on paper money - I fully expect there will be a financial crash.
 

Samseau

Owl
Gold Member
Bought silver back at 19$

http://tfmetalsreport.blogspot.com/

The only blog you need for precious metals



I also believe that silver and gold prices will drop in the immediate future, silver back under 30$, between Japan's earthquake and the announcement of QE3.

Make sure you own some precious metals before QE3, that will be when the real bull market for gold and silver arrives.
 

Samseau

Owl
Gold Member
thegmanifesto said:
Anyone been following silver?

Parabolic.

Gold at fresh highs as well.

Should be giving everyone a little extra walking around money.

Don't have the money yet, not gonna sell silver unless the Govt cleans its act up. I don't think it will happen so I'm just gonna keep my silver till the next world currency is introduced
 
Less than 1% of the US population owns physical bullion, so there is lots of room from growth especially with all the inflation thats about to hit. I put half of my liquid in bullion in the last year and am working on a plan to start earning in BRL's. Bullion is going to go up for sure (probably 15-20% in the next 12 months at least). Buy it.
 

cool

Woodpecker
I bought silver at $33.

I've been waiting for a correction to buy more, but the price just keeps rising.

It's a high quality problem.
 

rudebwoy

Peacock
Gold Member
I don't believe there will be a correction, the Silver train is moving fast and I think the "powers that be" want to slow it down.

They want people to buy there useless stocks, bonds and mutual funds.
 
I bought both silver and gold back in 2005 at $6.50 and $420. At one point I was about 80% silver and 20% gold. I sold out of all almost all my silver, I'm about 95% gold now.

When I bought years ago, I was a little naive about the PM markets. Today, I wouldn't buy any silver because the price of silver is too volatile, and can be manipulated. I would still buy gold now, but I plan to sell within the next 2-3 years.

For anyone considering buying silver, make sure you have an understanding of selling it. I got out of silver because I found out that you'll lose a considerable amount of money when you try to sell silver (in addition to taxes). What do I mean, check out this site:

http://www.coinflation.com/coins/1921-1935-Silver-Peace-Dollar-Value.html

The current melt price for silver is $36.10. Dealers are currently paying
$32.40.

http://www.apmex.com/Category/17/90_Silver_Generic_Bags.aspx

If you're looking at buying eagles, they are currently selling for $52.65, but buying back at $48.56.

http://www.apmex.com/Category/160/Silver_Eagles___Uncirculated_2011__Prior.aspx

So when the time comes to sell silver back, you lose money. Also, buying at $52.65, you're essentially buying something that is only worth $36 on the open market price.

Compare that to gold, where spot is 1507.70 and the buy price is $1,546.50.

http://www.apmex.com/Category/290/Gold_Eagles___1_oz_2011__Prior.aspx

Dealers will consistently buy back silver at a lower price, but buy back gold at a higher price. For those who think gold is too expensive per oz. Look at buying the smaller denominations 1/10 oz for example.

With any investment, I wish you all good luck!
 
truedat said:
Kitco is buying silver @ $46.52 /oz. Not sure why you would want to sell it at melt price? Do you dispute their buy price?

https://online.kitco.com/selltokitco/selltokitco_USD.html#bullion

The melt price is essentially the price of silver because silver is an industrial not a monetary metal (Unlike gold which is still held by central banks/IMF/etc). It can be used as a gauge as to whether silver is under/overvalued. Many silver newsletters push junk silver as an investment. Junk silver is the 90% silver bags of coins. Right now, if you were going to sell those bags, you will take a loss because the price you are selling is less than the melt price. The dealer can take those bags and melt them down and make a decent profit.

I don't dispute Kitco's price. Their price is what they are buying for a 1oz (100%) silver bullion. It pretty much matches what the spot price is for KITCO silver. If you try to sell Kitco another mint's brand, you might now get that price. There's a good chance that it will be lower. But if you notice, that price is basically what the spot price is. You don't get a premium for selling it. That's why I mentioned the difference between selling silver and gold. Silver you might get spot and lower. Gold you will usually get a premium.

Also, like I said earlier, the melt price is essentially the price of silver. The melt price for a 1oz round is probably around $40, and you can buy a 1oz round for $48.02, a 20% premium over what you can consider the true price of silver.
 
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