It's 37° windy & raining today, so I have nothing but time
First off, I want to thank the following members who correctly interpreted what I was asking when I started this thread, & gave thoughtful input.
97guns
Blue Collar Guy
Svensk Anga
coach 96
Al in Ohio
brucethebroker
traineeinvestor
Texas Proud
MichaelB
Paragraph 1 from my original post
I'm ‘not’ looking to amass hundreds of pounds of silver, & I'm not a doomsday prepper. I just want to have a small percentage of my total assets in this metal. I'd like to amass at least 500 ounces.
ATTN Texas Proud
I had a boss who was always talking about silver and gold... and how it would protect him etc. etc....
So my question to you is.... how is $10K of silver going to change your life in any way if everything goes to heck
I have no idea ?
Neither of us do. Mainly because neither one of us has ever lived through a time when everything truly went to heck, like it did in the 30’s.
That is unless, you're like 100 years old
Also, buying real gold and silver has a high commission on it... you lose big time in the exchange.... you are looking to buy at $20+ per coin and silver is just around $17 per ounce... that is a HUGE markup
You're right, but I accept that.
If you want silver to be able to spend it then yes you need coins... but, you can buy bars at a cheaper price
Appreciate your suggestion, but I'm going to stick with coins
Me, I bought the silver fund... bought at less than $20 and sold when it went over $40.... bought again when it went down, but sold at a loss... I do not think it is a good investment
I also bought a silver ‘investment’
USV UBS Bloomberg CMCI Silver Total Return ETN
Probably not the best choice. It's a very thinly traded ETF with only a little over 4 million in net assets. But I bought @17.00 & it’s now around 22.00
I'll be totally honest with you. What convinced me to allocate ‘a small portion’ of my portfolio to silver, is something I heard/read some years ago.
Don't remember if it was in a newspaper, magazine, in person, or somewhere on the Internet, but it struck a nerve with me.
It goes something like this. A man was recalling a time back in the 50s, when he went to the gas station with his grandfather.
Gas was $.20 a gallon, & his grandfather had the attendant put in $2.00 worth (10 gallons). When the attendant came to the window to collect the $2.00, the grandfather reached into his pocket & pulled out 2 one dollar bills & paid the man. He then reached into his other pocket, pulled out two silver dollars, handed them to his grandson, & told him to hang onto these, they may be valuable someday.
As of today, the 2 one dollar bills are still worth $2.00 & wouldn't even buy you 1 gallon. The two silver dollars on the other hand, are valued at approximately $26.00
Even if you had to liquidate them very quickly, I'd be willing to bet the absolute least you’d get is $20.00, 10 times more than the paper currency.
ATTN brewer12345
What I am hinting at is: what set of circumstances do you envision under which a pile of silver will be helpful and things will not have descended to the point where someone will not simply take it from you?
My reply is the same as the one I gave to Texas Proud. I have no idea if a pile of silver would be helpful if things really went south ?
As far as someone simply taking it from me, someone may eventually get it, but it certainly wouldn’t be the 1st one who tried
I consider it a hedge. I'm 55, have a nice diversified portfolio, big enough to allow me to live comfortably to 100 years old. So if the $10,000 or so I plan on investing in silver turns out to be worthless, (which of course it never will) it will have very little if any effect on my life.
ATTN calmloki
You replied to brewer12345, who had asked…
What I am hinting at is: what set of circumstances do you envision under which a pile of silver will be helpful and things will not have descended to the point where someone will not simply take it from you?
with this
You know - werewolfs. or new career as the lone stranger
Had hopes for this site, but the bullets lack push
Silver Bullets for Sale | Silver Bullet Bullion | APMEX Ammo
We went with a bit of gold back when 1999 was drawing to a close and the world was about to end. Not enough to sustain us for long periods of time, but maybe enough to bribe our way across a border or something. Decided if the world got that bad we were all screwed anyway, so while we haven't sold we didn't add anything (until this Christmas, when I got the gal a bunch of indian head nickles to maybe use as buttons and a gold indian to match.
I thought you were being a bit condescending here, but I may have misinterpreted it ?
If you weren't, I apologize for my reply.
ATTN brewer12345 Part II
I don't personally feel the need to own gold or silver in physical form to protect me from inflation. If that is why you want to do so, come out and say it rather than throwing a tantrum
I don't have to explain to you, or anyone else on this thread, my exact reasons for amassing a small amount of silver. As I stated in the original post, & again at the top of this one, I decided I wanted to purchase a set amount of silver, had started doing so, & was simply asking if I was going about it the right way ?
Maybe you should look at the thread title again.
What’s The Best Way To Invest-Speculate In Silver Coins ?
And if you consider my response to calmloki a tantrum, then we definitely disagree on the definition.
ATTN MichaelB:
If you have decided to acquire the coins and don't care to discuss this in the thread, there's no need to respond to posts that raise that question. Just focus on the posts you find helpful
I have decided to acquire coins, I have already started buying them. I was just asking others about different ways of going about it. All at once with a box of 500, or continue doing it the way I'm doing it now ?
But I realize now, your suggestion to focus on the posts I found helpful, & not reply to those that I didn’t, would have been much wiser.
I’ll remember that in the future.
ATTN W2R:
Basically, my conclusion after reading the thread thus far, is that it appears that most of us are not wildly enthusiastic about your approach to investing
Did you read my original post ?
I clearly stated that it was only going to be a small percentage of my portfolio, that I had already started buying silver 50 Cent pieces on eBay, & I was only asking if it would be better, to instead buy a large box of 500 coins all at once ?
My approach to investing has done very well, thank you.
If you want to dedicate a small percentage of your portfolio to Chinese tea, that's perfectly fine by me
I should've made it more clear when I said I'd accept all opinions/suggestions. I wasn't asking for investment advice from yourself or anyone else, I should have stipulated that the only advice I wanted was pertaining to which of the two ways would be better ?
If I ever start a similar thread again, I'll post the following.
I don't want your advice about this particular investment. If you don't believe in it don't post any replies.
Lesson learned.
Once again, thanks to all those who ‘understood’ what I was asking & replied.
