This is true that these will continue to rise in value and I guess we could add to it beef, sugar, coffee, and various crops as these also will shoot up in cost. But I can't invest in large amounts of things like this, but I can afford to buy a roll of silver nickels, or a few silver dimes now and then. I noticed too that someone responded that we could buy higher grade coins and key dates, and that is always a good (and fun) investment. But for me I will hang on to my silver coins and spoons as a hedge against the mistakes of those who are wiser than I. (tongue in cheek) Juan
I heard some where that there's a rare earths mine in california that just started back up in the hopes to produce 20% of the world market of rare earths just wonder what your opinion is on this
I am sorry AlexN2coins2004 I don't know much about rare earth mines. I don't even understand how rare earth elements are used execpt that they arre used in electronic devices and our cars, and I don't even know how they are used in them. But as much as I hear people talking about them I guess we all should learn. But I also agree that copper is a good investment. If I could store (and afford it) it I would buy a ton or two. Juan
Yeah $41.00 is nice. Im actually using this opportunity to buy quality junk coins, ones in great condition. It's a great way to hedge against a loss. Just bought a vf barber in paper case for $3 (melt is $2.96), a vf Peace Dollar in paper case for $32 (melt is $31.71) and a few more peaces. Im sort of picking and choosing instead of buying in bulk, at this price im just scared to buy to much silver it is bound to come down sometime (even if its 8 years from now). When it drops i can always sell nice coins to a collector. Good luck to everyone.
The company in Ca. is Molycorp. http://finance.yahoo.com/q/pr?s=MCP+Profile. The mine Mountain Pass Mine is in San Bernardino county and had been closed as rare earths were readily available from China, but their policy changes in availability and pricing lead it to be re-opened, but still not ready to process any ore. They are Hyper-hyped, but sometime you have to follow the trend. It is approx. $67 a share, but read this article, as it is a long term play ( JPMorgan says possible $215 by 2014. Kinda like the $150 silver huh http://seekingalpha.com/article/258080-why-molycorp-is-a-buy-despite-its-sticker-price Lynas ( Australia) and Molycorp are the only proven resource company that has a possibility of selling product by 2012, the rest are worrisome to me. Rare earths are divided up into heavy and light elements, and the % of resources in each determines the profitability for companies. IMO, those are the only 2 I see as reasonable risk. Disclaimer, I hold both companies currently ( Lynas for long term and Molycorp in case I wish to buy/sell the area. Do Due Diligence and evaluate according to your risk profiles. Jim
*cough* Apr 14 2011 3:52PM NY Time Bid/Ask 42.00 42.02 Low/High 40.53 42.03 Change +1.34 +3.30% 30DayChg +7.76 +22.66% 1YearChg +23.58 +128.01%
If you look at post #46, MCP went from $67 to $73 today, almost 9 % in 5 days. There are alternatives if you wish to sell silver and move to something else. If not this kind of play, others exist. IMO. do due diligence. Had to sell as I reached the max in my option spread, but will get back in down the road. Jim
How about that $42.00 today . I've been right on target with my prediction early this year and I still see no reason to suggest that silver won't continue upward through the early summer.
You are of course correct in that silver is not the best performer out there. There are probably lots of places you can get a better ROI, however as you probably know a big part of the reason silver is doing so well is because it's tangible, affordable, and easy to store and transport (not to mention shiny!). I got into silver because I wanted something physical I could hold without having to worry about whether or not I could cash it in for what the value a piece of paper says I have, but is not truly in my possession. All the collateral in the world doesn't do you any good if you can't cash it in, and physical bullion is an ideal choice for risk mitigation in that regard.
My attorney, who knows I collect coins, asked me if he could come down to the local B&M coin shop with me this week so he could "buy some silver bullion" Ladies and Gentlemen, I think the herd is finally getting into buying/owning physical PMs. Stand by, we may see that 'parabolic curve upwards' occur in the near future. Heck, it may be occuring as we speak.
I agree Race but I still don't know anyone I work with (in a very large company/building) that is in to PM's ... but it's coming.
I also don't know anyone I work with, in a rather large company as well, that is stocking up on bullion. Then again, I don't talk to many people, and I doubt that those who are doing so will advertise it. I think the price moves speak on their behalf.
I don't think there will be any significant drop in Silver anytime throughout the balance of this year. But than again, that's just this man's opinion.
