And now the run on silver and gold...

[menhaden_man]

Great time to buy... if you can find it!

Funny how the paper and physical market don’t ever add up. Must be the ETF world?

 

[5MilesBack]

I guess it depends where you are buying it. I looked at APMEX this morning and they had Silver Eagles for sale for $24.21 with silver at a spot price of $12.20. That's a 98% premium. What idiot would buy silver at a 98% premium? Wow, talk about price gouging. That's worse than ammo right now.

 

[william schmaltz]

There is never a great time to buy metals. Based on past events, the market will make you exponentially more over the next 3-5 years of recovery.

If you’re worried the US dollar and economy are going to collapse, then the whole world is on fire and bullets will be worth a hell of a lot more than shiny rocks.

 

[Trial153]

This ship has sailed a long long time ago.. ...

 

[menhaden_man]

I'd like to see those prices hit the "Osama tossed in the ocean" rates! Would be great time to get some land.

 

[Dust Rider]

Local newspaper had a full page add from the local coin dealer last week wanting to buy all gold and silver coins and full collections. People do crazy irrational purchasing during times like these.

 

[Crowmangler]

I'm not an expert in this (or anything) but years ago a friend explained to me there's two ways to go with investing in metals:

1. trade in actual rare gold & silver coins that people will pay a premium for based on real world market examples. To make money you have to really know your stuff & be a full time coin nerd to know what you have & who wants it. Or you just happen to have an extremely rare coin worth a crap ton of money which describes only a handful of people.

2. Buy bullion (rounds, bars, etc) but at spot price or for very small percentages over spot when you find a good deal on it. I think buying silver eagles is just stupid. Why pay 98% premium for something you can get for 5%?The problem is that when times are really bad & everyone needs to sell the buyers won't pay you crap for it. Even in normal times they'll typically pay 10% less than spot price. So essentially spot price has to go up around 20% just to break even.

It just doesn't seem worth the time to me. You can't eat it, use it for medicine or a weapon.

 

[ODB]

I hate metals. I’ve seen someone have utter faith in it while calling it manipulated, invest in it, lose their ass, and then tell me to buy.

no.

 

[*zap*]

Silver coins in hand may be a good thing at some point....

 

[Farmingdale's Finest]

Gold sold off today because of redemptions from funds that own it and it was reported that some were selling it on concerns that the government may confiscate it like they did during the Great Depression.

I am a financial planner and to me maybe holding physical gold has a place in a portfolio but even then I don't believe in it. It doesn't have a cash flow , earnings or dividend that you can monitor and it is completely illiquid. It is just an arbitrary price in time. Even with this crazy market I would buy Verizon even with the possibility for further loss in principal in the near term. It's a company that has a higher than average dividend of 4.5% vs a little over 1% for a 30 year treasury with the capability of increasing over time. We likely are in a very low interest rate environment for quite a while with almost no upside for treasuries if you buy them today. You get paid to wait while the stock market recovers. This is not a solicitation just an example of what I look for my clients.

 

[Beendare]

Gold was down the other day too...while the SHTF.....gold is a suckers bet.

You can't eat it...and like the example above trading it is a joke.

The precious metal dealers are the only ones making money. If you are worried about the SHTF, buy farmland.

Edited, You CAN'T eat it

 

[menhaden_man]

Gold was down the other day too...while the SHTF.....gold is a suckers bet.

you can eat it...and like the example above trading it is a joke.

The precious metal dealers are the only ones making money. If you are worried about the SHTF, buy farmland.

Can’t disagree on property!

But stock market is a lotto - or we’d all be rich. All these folks saying do this or that are all wise until you lose ten years of gains in a week when a handful of people die... while we are hiding from the tax man.

And Uncle Sam is offering a trillion dollars to bail out a failing bail out industry?

No one asks where that Monopoly money will come from, just how we’ll spend it.

 

[Trial153]

If get to the point that your using gold as a liquid asset then shit hit the fan so hard that fan is gone.

 

[i count eye guards]

If get to the point that your using gold as a liquid asset then shit hit the fan so hard that fan is gone.

If the fan is gone, gold doesn't really do much for you. I'm not smart enough to make gold useful anyways.

 

[16Bore]

Silver sucks. If you didn’t sell off in 2011, you’re holding shit.

 

[menhaden_man]

Silver sucks. If you didn’t sell off in 2011, you’re holding shit.

2011 would’ve been the year to dump! Don’t know what isn’t shit today though. Hopefully people come back down to earth before we burn this whole thing to the ground.

 

[menhaden_man]

Gold sold off today because of redemptions from funds that own it and it was reported that some were selling it on concerns that the government may confiscate it like they did during the Great Depression.

I am a financial planner and to me maybe holding physical gold has a place in a portfolio but even then I don't believe in it. It doesn't have a cash flow , earnings or dividend that you can monitor and it is completely illiquid. It is just an arbitrary price in time. Even with this crazy market I would buy Verizon even with the possibility for further loss in principal in the near term. It's a company that has a higher than average dividend of 4.5% vs a little over 1% for a 30 year treasury with the capability of increasing over time. We likely are in a very low interest rate environment for quite a while with almost no upside for treasuries if you buy them today. You get paid to wait while the stock market recovers. This is not a solicitation just an example of what I look for my clients.

Any other suggestions?

 

[16Bore]

April 2011 silver peaked at $55.89

 

[Farmingdale's Finest]

Any other suggestions?

Without knowing a lot more I can't put out a suggestion. If you want to contact me off line so I can learn about your situation, age, risk tolerance, liquidity needs, long and short term goals etc. I would be happy to talk to you.

 

[menhaden_man]

April 2011 silver peaked at $55.89

Right before Osama was supposedly tossed in the ocean... I remember it clearly.