If these have been discoused already please delete this thread and pm me a link to the other threads, im at work and only have a few min to post this, anyways. 1. does anyone own SLV it is a silver etf that trakes the spot price of silver prety well. I have made some decent coin bought in a little while back when it was at 12. I like it because it is a hassle free way to invest in silver without paying a primium for the metal. 2. I have some old silver bars that are tarnished. I was going to clean them with silver cleaner because they have no extrisic value (like say a coin would). I know the never clean an antique rule, but something thats value is only in the metal and not its prety rust aka patena. is this a bad idea? thanks in advance.
I used to own SLV but sold it in favor of other ways to invest in metals. Make sure you read the prospectus carefully so that you aren't blindsided when it doesn't perform the way you think it should. I wouldn't clean the bars. It doesn't really matter either way to the value, but some collectors like and expect to see some toning on the older bars.
Thanks Clouds-- I'll look into the perspectus. Something I should do more when I invest. I just figure that etfs have low administrative fees, and with silver performing like it is that it was a good investment. It has been so far. If noathing else I can sell this week or next and bag a nice profit. It is also cool that since there is a silver secuirty that it gives people like us a way to play declines in the metal market. Very hard to short sell a silver round. Not that anyone would want to do that with the wave of inflation that is heading our way, but it is a posability. Plus I think its cool to see what the big money things. Calls are being sold 4 to 1 on puts everybody it seems thinks that silver is going up! I get what your saying about not cleaning them, these are just plain jain bars I dought they have any collectable value. Im not even sure if there is a date on any of them they are just beat up looking. Would the cleaner change the weaight. My mother has this foam stuff that is awsome that she uses to clean her punch bowl and other silver with for the hollidays. Besides potential rust value is there a reason not to do it?
As far as I know SLV tracks the price fairly well on silver. But what you have to be wary of are some ETF's that only hold paper contracts on silver rather than physicl bullion. IIRC I do believe that SLV holds the physical silver somewhere. PS I could be wrong on ETF's holding paper contracts but I thought I read a warning in an investment newsletter or something. They could be required by the SEC to hold physical silver. If I am wrong someone correct me as we all are trying to learn here!
Link to the perspectus http://us.ishares.com/content/strea...rospectus/silver.pdf&mimeType=application/pdf Prety intresting read. I really like the risk section starts on page 7 of the document itself not the pdf. Also the graph of the silver price is prety lol. I heard people talk about the dudes in the late 70s early 80s that tried to corner the silver market, but it is funy to see the price change.
If they are already beat up, you probably won't do any additional damage by cleaning them. It's just a bad habit to get into.
