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Is silver a foolish buy right now?
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<p>[QUOTE="medoraman, post: 8244119, member: 26302"]If its hobby money, you do what you like sir. If someone wants to stack bullion as a hobby, fair enough. I am a hoarder myself so understand the urge, plus the urge just own silver. </p><p><br /></p><p>Right now spot is not that high, but around long term average considering inflation. Its the premiums that are outrageous. I see what some are asking and its simply silly to me. This always happens in times of economic stress, more people than normal go into PM and premiums go up. Boring is the time when you want to be buying pm long term. I posted a few years ago here how it was a good time to buy bullion, as it was boring and spot was lower, but then again most people did not read it because they weren't interested in pm when everything is going better. I was buying double eagles for like $1200 and half eagles for around $300. Silver I think I was paying around $16-17 an ounce for US 90%. </p><p><br /></p><p>However, that does not matter now. If hobby money buy what you want and can afford. I personally would wait to spend more than hobby money on pm until things settle back down. Sometimes it takes a few years. Spend that time to learn the market, what you like, etc. Knowledge will always be the most valuable commodity in any market, along with luck. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie1" alt=":)" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 8244119, member: 26302"]If its hobby money, you do what you like sir. If someone wants to stack bullion as a hobby, fair enough. I am a hoarder myself so understand the urge, plus the urge just own silver. Right now spot is not that high, but around long term average considering inflation. Its the premiums that are outrageous. I see what some are asking and its simply silly to me. This always happens in times of economic stress, more people than normal go into PM and premiums go up. Boring is the time when you want to be buying pm long term. I posted a few years ago here how it was a good time to buy bullion, as it was boring and spot was lower, but then again most people did not read it because they weren't interested in pm when everything is going better. I was buying double eagles for like $1200 and half eagles for around $300. Silver I think I was paying around $16-17 an ounce for US 90%. However, that does not matter now. If hobby money buy what you want and can afford. I personally would wait to spend more than hobby money on pm until things settle back down. Sometimes it takes a few years. Spend that time to learn the market, what you like, etc. Knowledge will always be the most valuable commodity in any market, along with luck. :)[/QUOTE]
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Is silver a foolish buy right now?
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