Asked myself - Why do I buy Silver?

Hmm -- maybe we're on to something here.

Earlier this week, gas prices around here dropped by about 10 cents a gallon, practically overnight.

This morning, the melt value of my silver quarter dropped by about 10 cents, again overnight.

 

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No more QE?

I'll believe the Zombie Queen with the gaudy red lipstick when they're selling snow cones in hell.

 

I guess the great demand for PM took off the gaudy red lip stick and slipped away with the hard greenbacks. Can't wait to hear what the bullion newsletters have to say, or will they do what they always do when this happens, blame the conspiracy and switch to "PM are really a bargain now" as they raise their premium. Over 5% dump in one day.....lets hear the good news!

 

I think it will be more, "Boy, pm is just flying off the shelves, I have to have high premiums just to keep any of this highly demanded item on the shelves for you!". The real reason, of course, will be they believed their own rhetoric and didn't hedge their physical position like they should have, (ugly truth, physical dealers use the evil paper markets to lessen their risks), and they need to gouge customers to make up the difference.

 

I'm just curious gentleman. The arguments for a stronger dollar really do sound flawless. I'm not being sarcastic when I say that. Just asking: isn't that something to worry about? You know: Nothing fails like success?

 

It's perspective, the dollar is just the "best house in a bad neighborhood" None of the currencies are really robust. With the fed ending QE, things might get tough.

 

All the more reason to sack it.

 

But the price of most commodities ( including PM) are priced in USD, and there is no indications any other currency will be able to move that for maybe a decade or more. Many here keep wanting a stronger dollar, saying how its lost its spending strength, forgetting that such will decrease how much PM the world will buy as the exchange will reflect higher cost in their local spending power, and also lower the price world wide. People who keep posting the rhetoric or bullion dealers that it is a reservoir of wealth and to buy, consider it is counter party to paper, but how can it be since pm is exchanged based on paper value not some vague intrinsic value.? Yes, I know, the Zombie rebellion is underway, but they will probably take paper also. But there will be good reasons other than those to buy, depending on the long term investment plans, but as a component, not an affliction. There is no conspiracy.

 

So I'm only just dipping my toe in PM, and strictly going for aesthetics and not investment. But it seems the only people making a killing on PM are the big dealers who come out with all kinds of market letters to encourage purchasing from them..

 

If one is young, and will see cycles in the future, and willing to deal PM as a commodity, it can help produce a stability in a person's investment strategy over time, but as with stocks, property, etc., one must be willing to adjust the portfolio as personal situations change. If you are of social security age, PMs may not be desirable for investment ratio, but if you want to buy some because they appeal to you , do so, as Life can be shorter than one expects.

 

For a hobby, silver is pretty and a great hobby. Yes, as an investment all pm has high hurdles to overcome, dealer profit being a large one. The best way to overcome this hurdle is through time. Holding pm for a long period minimizes this cost. So yes, holding physical pm is costly and has some risks, but its highly preferable to holding paper pm long term. For some reason shysters have always been attracted to coin collecting and pm. Unless its an ETF, I would NEVER, EVER trust paper pm. Way too many have lost their fortunes with promises from pm dealers.

Btw, I am with you Longnine, I absolutely HATE the atrocious policies our crooks undertake. However, I am a realist, accepting the vast majority no longer desire silver and gold, but want greenbacks. So, I invest in varieties of investments for retirement. I truly do wish I could just accept X is the perfect place to put my money, but I just have too many doubts.

 

I like to think the dollar is the best EDITED Language.

 

I buy it because it is a fun hobby and I enjoy selling a little here and there to make some cash off of them.

 

I started some time in 2002, so silver went up and up and up, and sometimes down with the market. Lately it's just been down, but I think we all harbor a wish that it would start up again. I am beginning to lose faith, which I take as a good sign. When even I am losing faith it might be at a bottom. We'll see...

 

When the hucksters figure out how to lure some more fools in, silver will take off again.

 

I buy it because I like it and it's shiny!

 

Hi,

Jumping back a few pages, if I stuffed 100 dollar bills away 100 years ago (1899 silver certificates), fresh from the bank, I would have $20,000 or more today depending on condition. If I lived.

I have been trading ASE proofs for gold lately, fingers and toes crossed.

 

I think silver may have more upside, since it's at over 73 to one right now. I don't really know, however. I really thought 15 would be the floor, but it looks like there may be another floor below...

 

Just as reasonable that gold is still overpriced by a lot compared to silver.

 

there are up's and down just keep buying and ride it out these prices are right about where i started buying but i sold all that stuff at 42 would love to do it again

I still don't see why people cry at low prices do you really want to pay 30 an oz if your not ready to sell out then why worry about low prices