Is anybody still buying silver and gold?

Discussion in 'Bullion Investing' started by ahearn, Jul 27, 2011.

  1. ConfederateHalf

    ConfederateHalf Stars & Bars Forever

    Current economic situation unprecedented in US History

    The key words in your post were:

    "As soon as the current recession and national debt issues are behind us (months?, years?)..."

    That's a mighty smug assumption and it belies a "business as usual attitude" that ignores the realities of the fiscal crisis the U.S. and other major western powers are presently in.

    The reason people are still buying is that the United States is headed straight towards a national default of unprecented historical proportions. When this happens, there is a widespread belief that Federal Reserve Notes are going to be about as valuable as toilet paper.

    The only way to have any money that will be accepted in such a crisis will be if you are holding "hard money" - i.e. gold and silver specie - thus the continued demand for bullion despite all efforts by governments to manipulate and hold down the prices of these two commodities.

    Anyone who has not continued to build up their supply of PM bullion is going to be crying when our fiat money system finally, inevitably, implodes.
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  3. RaceBannon

    RaceBannon Member

    Where would we be without the "doom and gloom" crowd?

    While I believe that we're in the middle of a bull market in PMs, and that fiat currencies will inevitably lose purchasing power over time, I don't subscribe to the theory that the global economic system is on the verge of collapse, leading to a post apocalyptic Mad Max type world in which precious metals, ammunition and gasoline will be the accepted forms of monetary exchange.

    But I've got to admit, as a holder of silver and gold bullion, your opinion is not only widely held, it is making me money. Or at least protecting me from the erosion of the value of the dollars I'm paid in. The trick to the game is trying to time the market, to sell your precious metal holdings when they are at or near their peak. I don't believe we've seen that yet.

    As to the original poster's point, I've slowed my buying as silver hit $40 and Gold $1500, when the price of the metals dips, I'll buy again.
  4. Team Maf

    Team Maf New Member

    Probably the smartest post Ive seen in this thread. Ive been doing the same thing, in fact I have been working overtime to get extra investment funds. I got a eerie feeling I will be sorry If i do not purchase more silver, and possibly some gold soon.

    Lets talk reality here, We all speak english, assuming everyone reading this has already invested in Gold or Silver, obviously we are conscious of thought/decision making.

    Does anyone occassionally check USD index or the BIG 3 DOW/SNP/Nasdaq? Has anyone realized that the market is more iffi-er than a teenaged girl. Has anyone realized the that stimulus package temporarily boosted our economy, raised the dollar temp.....but now we are back at square one?

    Keep in mind, despite what is being told to us by our elected officials, and media(HAHAHA what a joke) almost either way the Debt Ceiling is handled we are going to take a hit. We keep digging ourselves deeper and people say "IT HAS TO BE DONE OR WE WILL DEFAULT" What about the fact we might loose our golden AAA rating? What about the fact China owns 40% percent of our debt? What about the fact you cannot buy quality American goods anymore in our own damn country? So many things add up but people are just trying to pick and choose trying to point to one specific subject that may or may not affect metal pricing

    IMHO the only way gold/silver/metals will go down is if someone invents a time machine and travels back in time. Otherwise more than likely our investments in metals will be solid for minimum 20 years.

    The president himself has even said, improvements will not come over night, will not even come within a few years. So LMAO if this is being said from the guy up top, what more advice do you need?

    Silver is the low-mid end investment metal so many people are purchasing. Several stores have opened up in my area dealing in silver(local supermarket). I believe a few pawn shops by me even advertise for it

    Lets talk more truths, usually about this time of year metals decline or slow down a bit. On the contrary now because of the situation it is going up, matter fact new High on Gold.

    Silver I believe is being watered down purposesly, and or being purposesly speculated, although all it takes is a few bad weeks and the price could spike.

    All i know, being a young punk in his twenties, im sitting on triple digit % profits on my investments. You tell me where the **** you could have done the same thing. I had bonds that I had for 15 years of my life, and finally when i cashed them i barely made 100%/doubled my money(BTW re invested in gold). Bought silver at around $20-ish now its $40. Doubled there in less than 2 years.

    You tell me.........:hail:. I feel sorry for people who have no backup whilst inflation is rising. No way to makeup for that lost money. Raises arent being given at jobs. I work at a high end employer....guess what the raises being given are across the board. 1%.....One percent raise increase. Hours are being cut for people working regular jobs, whilst others do twice/triple the work to pickup the slack.
  5. Daniel M. Ryan

    Daniel M. Ryan New Member

    Or create a buying opportunity. Someone I know is waiting for the debt ceiling to be raised so he can buy an ounce of gold once the excitement's gone from the market.
  6. dlhanna777

    dlhanna777 New Member

    I guess you could say, I'm just piddling with a little silv er!!
  7. RaceBannon

    RaceBannon Member

  8. TheNoost

    TheNoost huldufolk

    yes, couldn't ya tell I bought on Wed., now it goes back... down.
  9. WoodyWW

    WoodyWW Junior Member

    A "post apocalyptic Mad Max type world in which precious metals, ammunition and gasoline will be the accepted forms of monetary exchange". That's pretty good. There are obviously a lot of people, at least in the US, who not only believe in that sort of thing (even if not quite that extreme), but, in a perverse sort of way, have fun with it. After all, if some "post apocalyptic Mad Max" type scenario happens, who won't want to be the one guy in his town with 700 guns in his basement, & who had put all of his (by then worthless) paper money into G&S?

    Personally I think a lot of people are panicking into PM now (duh). Including a lot of newbie G&S investors who think PM are a "sure thing". Then again, gold going to $ wouldn't surprise me a bit. For me, I've drastically slowed down buying gold, just trying to add a nice $5 Indian or 2 to my "collection". If gold does go up, good, if it goes down, I'm sure I'll still love the coins.......
  10. eric0911

    eric0911 SMS-71

    I don't think that there will be a SHTF situation anytime soon, I buy metals for investment purposes, but hypothetically, there is a SHTF situation, there's an added bonus.
  11. InfleXion

    InfleXion Wealth Preserver

    I for one would rather lose my shirt on PM's than see a dire situation, because that would mean a recovery and I would still manage, but as a realist it is something I would not feel comfortable being unprepared for. I certainly prefer my current standard of living to the one that situation would provide.

    I do think the market has factored in a debt ceiling default to some degree, and that upon reaching an agreement we will see a dip in PM's. TPTB may even decide that's a good opportunity to take advantage of the momentum and initiative another smackdown, but to me this would just be a primo buying opportunity. I continue to see articles hinting that a AAA downgrade may come even if we raise the ceiling, based on the terms of that deal. Raising the debt ceiling doesn't solve anything. It just gives us life support to pump in more morphine. As long as the debt itself remains anywhere near current levels, and as long as real interest rates are negative (actual minus inflation) I think we will see the long term bull run continue. None of these deals cut into the debt. At best, they prevent it from growing.
  12. Daniel M. Ryan

    Daniel M. Ryan New Member

    Sort-of like the bomb-shelter builders in the early 1960s.

    "No, I'm not wasting my money at the building centre. This is for our survival!"
  13. Daniel M. Ryan

    Daniel M. Ryan New Member

    It's how we learn. The first stock I bought, I got within a week of its all-time high.
  14. susannyny

    susannyny Member

    While I'm not buying at the same levels I did when Silver was ~ $30/oz, I continue to purchase when I can make a good buy (for instance, I've picked up 2 Englehard prospectors and a few ASEs for under spot recently). I've also picked up a Canadian Grizzly this week for $42.

    I'm a firm believer that at some point in my lifetime Silver will hit $100/oz. I'll continue to heavy up on my purchases during dips, but ultimately I feel any purchase at ~ $40/oz will ultimately reap strong returns.
  15. Daniel M. Ryan

    Daniel M. Ryan New Member

    The fall's usually good for precious metals in a long-term bull market, which we still have. To be honest, I thought that gold was getting ahead of itself until the debt-limit issue flared up.
  16. richardthebrave

    richardthebrave Junior Member

    i continue my purchases up to now though in a much limited quantity as i have other necessary things to put my cash on.

    it's possible there will be a debt compromise reached before august 2 and silver and gold will go down a bit, that would be the best opportunity to grab some if you are not doing it now.
  17. Collector1966

    Collector1966 Senior Member

    I'm not buying bullion coins, but I did manage to pick up these Franklins for a little less than melt the other day:

    Attached Files:

  18. onecoinpony

    onecoinpony Member

    Buying more Pru 2010 buillon sets below melt.
  19. thatcher164

    thatcher164 New Member

    Las Vegas now has ATM's that dispense gold instead of cash, I'm sure at a
    healthy premium
  20. scottishmoney

    scottishmoney Bamned

    If you include what I buy at the bank in face value, mostly halves - I guess you could say I am still buying silver. Have 16 more 40%ers to sell tomorrow - at a usurious profit. I keep 90% halves, but sell the 40% finds.
  21. WingedLiberty

    WingedLiberty Well-Known Member

    The last silver bullion I bought was 2 rolls of ASE's when silver was around $34 a few months ago. I do think silver is going higher (back to $50 at least) this Fall.
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