Is a good time to invest in silver? Or I'm probably late, right? Just because your a kid doesn't mean you can't invest! :rollling:
Disclaimer: If any of us REALLY knew, then we would all be rich. The majority opinion that silver has corrected itself right now at $38/oz. Most will agree the price will rise, just a little more slowly then it has the past year. Many beleive it will reach $100 over the next couple of years. Or even more. Will it drop? highly doubtful. So go ahead and get yourself some silver!
My 2 cents, (all an opnion is really worth), is its not HIGHLY doubtful at all. Just because it has corrected does not mean $38 is not historically high for silver and the market is still not driven by emotions relating to the economy. I view the situation as neutral, meaning just as likely to go up as down, but long term I think its overvalued right now. Thecoinlover, don't worry about being the first kid to invest. I bought 400 ounces of silver in the 70's with a bingo prize when I was 10. You aren't the first, but this is a great lesson to learn for life. Always remember, though, at your age its not the size of the profit you earn, its the education you get from being involved. Chris
I've been investing for 8 months or so at 11, I have about 12 oz between scrap,bullion, and roll finds. According to a program I have, I've made about 60. I'd say it's a good idea for anyone to invest in silver as long as they are knowledgeable about it.
I expect it to go much lower. But buying a little silver now and then (dollar cost averaging) is a good idea.
Like Chris said, use it as a learning experience, because chances are thats all it will be, good or bad. I've been investing for over 25 years, and metals are a waste of time and money for people who wish to invest long-term with hopes of padding their estates. It's fun short term and maybe slightly profitable, but you won't be retiring by doing so. Guy
Thanks guys! I'll buy some silver, since alot say it's going up, and it will be a experience for me. I might make a couple of bucks too.
It spiked up and settled in the mid-30's ; there are people who think they can tell where it will go from this base by looking at charts- there is a lot about that on youtube. I'd say that everyday that goes by without a major move downward makes it look better. That being said Jim Rogers (a guy in the know) said that China is cooling off and may curtail use of commodities forcing silver down. There are just a LOT of variables so it is hard to say. One thing that people suspect is market manipulation involving naked-shorts.
My opinion has still not changed that it is really high and will crash back down hurting a lot of people that fell for all the $100 an ounce talkers.
I sure hope you are not correct.. so far this has protected my estate very well. As long as we don't hang on too long..
Just look at historical information. Over the long-term it has fared near the bottom of any investment category. Gold and silver have always been short-term reserves and investments. Over ten years I typically earn more on my mid grade holdings than an investor would earn on bullion. Guy
The PM market is so volatile that I would never rely on it as a primary long-term investment vehicle. With that said, many have made money in the short-term. So, if you have some discretionary funds that you do not mind losing then why not put some in silver (or gold) for fun. TC
If a person had nothing else but say, some cash to invest.. well, metals might not make the best investment idea. Combined with some other 'assets', diversification I guess you could say, well then, that might be okay. Only metals, no; some metals, yes! And to me, investment uses money you can afford to lose. Don't invest if you can't afford to lose. That's just my opinion Lucy
I say go for it. You're younge so you have the rest of your life to pick when to sell the silver, a luxury not everyone has. It's not like investing in stocks. Silver will never be worthless. I assume that since your a kid youre probably going to be buying silver in small quantites so your not in much danger of losing boat loads of cash if silver drops back to below $20. If I could do it all over again I would have invested in silver when I was a kid, more heavily. I bought a bunch back when it was under $10 but didn't stick to it
