Is anybody still buying silver and gold?

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

  1. InfleXion

    InfleXion Wealth Preserver

    Now this is interesting. Probably more suited for people who just won a jackpot than anyone making a conscious buying decision, but it does go to show the cultural shift in thinking. Looks like some premiums are as low as 3% for an oz, others as high as 15%. Even at 15%, buying back at the time of this article back in January would have turned a small profit already. Still better than sitting on currency in my book.
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  3. LEG END

    LEG END Junior Member

    Time may prove me wrong, but I see $2,000 gold and 100 dollar silver. The money changers in Washington are out after the real wealth: our retirement accounts. If they can sap the value from the accounts by driving the value of the dollar down, then it is the same as outright stealing. It's just systematic. I hope nobody on this forum or anywhere else does not believe Greenspan did not know the crisis he was precipitating by driving interest rates up so feverishly. He knew it would unwind the country's finances and it's housing market. Housing is a core market driver. He knew that the market adjustment would mean millions forfeiting their homes. And he knew the bankers would need a bailout. He also knew TARP would not reach all the way down to homeowners, and that the banks would be the ones to benefit. And the only way to make us competitive is to make our paycheck competitive with Chin's laborers. That means slavery here. Our country lost 9,000,000 jobs to overseas interests since the year 2000. That's lots of wailing and gnashing of teeth. And the real tell-takle sign is that, rather than de-fund 300 million dollars worth of new security scanners, our corporate elitists are willing to send teachers home and have cities defasult on retirements for their long time servants. Yes, we will see 2,000 dollar gold. And even more so than right now, the only folks buying the gold coins will be government employees in cozy well fed government national security jobs. Why not send the privacy thieves in the Dept of Homeland Security home so we can teach kids. And why not send the strip searches of the TSA back home, and use all the money from bringing the troops home to re-fund our democracy.
  4. bigjpst

    bigjpst Well-Known Member

    I bought some from one at the Golden Nugget earlier this year
    http://Numismatic Vegas Trip
  5. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    Gold opening down $17 currently @ 1613.80
  6. WingedLiberty

    WingedLiberty Well-Known Member

    Sept 1st to Thanksgiving is almost always fantastic for price appreciation of PMs ...

    Any pullback of gold and silver after the debt ceiling agreement will be a great buying opportunity
  7. Daniel M. Ryan

    Daniel M. Ryan New Member

    Yikes, what a plunge. The market must be smelling a debt-celing deal. Silver got hit less, but it's down to about $39.60.
  8. dadc

    dadc New Member

    these are about the funniest games that are being played in Washington, and watching it effect the PM's realtime is a real joy.

    I hope everyone realizes that the " debt ceiling" debate is just a distraction and anything we actually do pass won't help our economic situation? I agree we will see a fall in the price of PM's once a deal is reached. but what happens when that money runs out again in 6-12 months? How long do you think this can possibly continue before the system breaks?
  9. InfleXion

    InfleXion Wealth Preserver

    I think most netizens realize this, but most folks in TV land probably don't. It has gone on and will probably continue to go on longer than expectations, but the slow motion train wreck analogy still seems appropriate. All this does is extend the bridge to nowhere a bit further.
  10. desertgem

    desertgem MODERATOR Senior Errer Collecktor Moderator

    I suspect that gold might go down further after the US market opens, unless the politicians jump the news with stories of how they tried hard to keep it with deep cuts, and hope to kill it after all. Even I got tired of the vampire sequels after a while. Just hammer a stake in those guys/gals!!!!
  11. FryDaddyJr

    FryDaddyJr Junior Member

    that's all civilization ever does. you're free to move to an "honest" country
  12. Collector1966

    Collector1966 Senior Member

    Actually, most people are not free to move to another country. For one thing, there's a little matter of being accepted as an immigrant by the new country-- and most countries have strict quotas and guidelines for immigration. If you're over 45 or so, or don't have a skill that is lacking in the target country, you are probably out of luck if you don't have a spouse from that country. And of course, it takes a lot of money to move overseas and get set up in the new country.
  13. dadc

    dadc New Member

  14. InfleXion

    InfleXion Wealth Preserver

    And where is this honest country? Out of the frying pan and into the fire comes to mind ;) but I love it here too much to abandon it, and wouldn't want to live anywhere else.
  15. FryDaddyJr

    FryDaddyJr Junior Member

    that was kind of my point :)
  16. WoodyWW

    WoodyWW Junior Member

    Most of the "honest" countries, that are doing well economically, & don't have a huge deficit problem, are countries that have higher taxes (on the rich at least), universal health care, & don't spend trillions on wars in the Middle East. Countries that are often called "socialist" by some in the US (mainly b/c they have (gasp!) health care): Canada, Germany, Switzerland, France, etc.

    I've spent time in all those countries, they're all great, & if I were younger I might re-locate, but I'm too old & set in my ways for such a drastic move. And I might not be able to watch Red Sox games on TV. Couldn't go to clam or lobster "shacks" in New England in the summer.....& no more B-B-Q I presume. Well that settles it.....
  17. Daniel M. Ryan

    Daniel M. Ryan New Member

    I'm from one of those countries, and I appreciate the compliment. Those "higher taxes on the rich" are more porous than they seem, and the universal health care costs less because there's cultural demand reduction. By that term, I mean a reluctance to go to the doctor or hospital because you're spending money that's not yours.

    At least, it used to be that way...
  18. Cloudsweeper99

    Cloudsweeper99 Treasure Hunter

    It's sort of a catch-22. Those countries are doing well because they don't pay much for defense and don't spend as much on medical research. But if we cut defense spending & military bases, and cut medical research, they would have to tax and spend even more and would not be doing as well -- and we would be doing "better." So their greatness is more circumstantial than systemic; and perhaps transitory. I'd stay here in the US if I had to make a choice.
  19. brightspirit1

    brightspirit1 Member

    I moved to New Zealand and couldn't be happier. Taxes are higher, but free health care, low university tuition for my children, and a more transparent government. Still problems, I admit, but a better quality of life, IMHO.
  20. medoraman

    medoraman Supporter! Supporter

    This is the perfect point. The dirty secret is that the US funds most medical research in the world by our high prices paid for drugs, prices other countries simply legislate away. The US pays for the majority of the world's defense from tyranny, enabling most western powers to spend greatly less percent of their GDP on defense.

    I am not saying the US isn't stupid for doing so, but all of these socialist nations would not be in their current position if they had to truly pay for medical research they use and pay for a real defense of their nation.
  21. fusiafinch

    fusiafinch Member

    I don't know where silver's going, so I buy all the time, but I use a "dollar-cost-averaging" approach. When the price is high (over $40) I buy less and when the price is lower (under $30) I buy more. Part of this is simply because I can't afford more at higher levels. But I bought a lot of silver coins when silver was under $6/oz, so I have fond feelings. I am selling more coins that are duplicates or that I don't need, but I replace those with ones I want.

    I have stopped buying Morgan dollars and waiting to see what happens. But this would be a good time to sell the common Morgans and buy key dates.
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