Safest PM?

As for myself, ASE are likely the best way to go for investment purposes if you choose silver. A silver round with Willie Nelson is more of a collectors coin, not investment. I'm sure some don't care but I can speak on my own behalf, you'd have a hard time reselling that round to me since I'm not a Willie fan, you'd have an easier time selling me an ASE though. Think of them as just neutral silver bullion.

 

Log in or Sign up to hide this ad.

Don't apologize, you're not cheating. The amount in difference is likely near to none. If all you actually had was $2500.00 in the bank, it likely won't even make a difference when applying for financial aid.

I unlike some don't mind my tax dollars supporting college students. Every little bit counts and if all you have is $2500 you are living off of, that's just backwards if you did get denied or a lower amount in aid for such a low amount in your own account by the financial aid departments. So don't let others make you feel guilty as in you cheating the system when the system (colleges and the whole political BS that you have to deal with in applying for help) is likely already cheating you by a much larger margin.

 

i think i will call that deal off because im having too much fun searching rolls. i'd much rather find silver than buy it. i actually just got an account for a bank with a coin counter in the lobby, ive already put 5000 pennies through it haha, and there is no fee so i think i will be spending a lot more money there.

 

Also, if you really wanted to cheat the system in college, you'd be playing sports on a full paid scholarship while having the smart nerds doing all your work to pass the classes. That would be a serious cheat in my opinion, not trying to hide your small account of $2500.00 so you squeeze a little more in aid that you pay back anyways.

 

If you wanted more of a guarantee for a year why not just have cash in a SDB? At least you have an idea of the amount of purchase power loss to expect in a year.

No investment is "safe" in such a short time frame save a CD, money market, or short bond. Even if a PM went up 10% in a year's timeframe, (historically a good year), that profit could be eaten up on the buy/sell spread. Physical PM is a good long term hold, not short term if you NEED the money.

 

i have no need for the money because i wont have a car in college, i will just need money for the bus. hah. and im not that kind of jock rodeo clown, im 28th of 128 in my class. so i am a nerd pretty much.

 

I continue to recommend the often over looked inflation protected savings bond for cash savings. They are paying over 3% right now and carry no risk beyond that of a collapse of the US government. They also are exempt from the blood suckers in the state tax departments.

 

I disagree. It's a very good short term hold.

Anyone with a gold coin can take a trip to any pawn shop, coin dealer, or jewelry store and get immediate cash for their coin. You may not get spot, but you will get close to it AND it can be done any time of the day these places are open and with little notice. You won't get any flack from surly bank officials.

It's as about as liquid as it gets if you need the money quickly.

 

i think i have some savings bonds already from my grandparents. can i get them at any bank or what is the process of buying one?

 

Well, that and you hang out on a coin collecting forum which tells me you are not likely one of those types of jocks. If you hang out here, definitely a nerd (yes, I'm calling myself a nerd) :thumb:

 

But it sure does nothing to protect the amount. If you need to have $1500 in a year, paying $1500 for gold today does nothing to assure you some store will pay you $1500 for it sometime in the next year. That was my point. PM can go up or down, but if the amount of money is "needed", nothing short of a deposit like instrument can guarantee that.

 

As of January 1 of this year, banks and credit unions no longer sell paper savings bonds. (shame really) You have to go open an account with the US Treasury's on-line service called Treasury Direct. The only way to get a paper savings bond now is to have your tax refund paid off in this manner.

The Treasury Direct thing is pretty easy to work with. They simply move the money straight from your bank account.

 

thats a fair & good start for you!

 

Please define "people in genuine need". Are you talking about the people that have lost their jobs in this latest economic recession? They have extensions on their unemployment checks so you must not be referring to them. Cheating the system with $2,500 ? How about cheating the Americans with a debt that grows by 3.9 billion every day? Are you talking about the Welfare recipients that haven't worked a day in their life and think that the working public owes them a free ride because they chose not to work or get an education? You have lost my respect for believing what the talking heads would have the mindless masses buy into. I work, save, and invest in MY future. I guess that means I cheat, abuse , and manipulate to get ahead according to you. To me it means taking responsibility for my own well being and not depending or counting on the Government to take care of me. Tell me what "system" I'm cheating, and while you're at it tell me how well the "system" takes care of you!

 

If investment is your goal, perhaps your timeline is a little short? I mean, pm's, well, you might want to have them for a longer period of time than you have mentioned. (That's my opinion.) Also my opinion, investing happens after you have covered your necessities..inless you are very disciplined and just put your money away in whatever form is your choosing, and don't look for spending it anytime soon, or at all even.

Savings bonds. YUK! They take absolutely FOREVER to mature. I mean FOREVER! I used to purchase them with every paycheck, for years. Guess what? They STILL haven't matured. All I can do is make sure I don't lose them! (Well, not really, I could turn them in for their current value..)(and then pay tax on the interest earned.)

That said, the new system ONLINE, is actually VERY easy to use. You can check your bonds anytime you like, very easily. Myself, I wish I never bought them. Maybe someday I'll be glad I did!!

I don't believe that any one here has the right to pass judgment on you, including me. We are all strangers to you here, fingers on a keyboard. You have asked for advice regarding metals, and hopefully each opinion posted has given you food for thought. Good luck, both with your decision for investment, and with school.

And I think I would nix the meeting in the parking lot...

Lucy

 

It isn't a matter of cheating or not cheating. It is the mentality of being willing to let money sit idle so that someone else [in this case the government] will lend you more support. You are at the age when you should be learning to actively manage investment, not hiding it. It doesn't matter what investment vehicle you choose. Just learning how to use money to make more money might turn out to be more useful than most of what you learn in college. I had both of my kids open accounts at Scottrade when they were in high school using the money they made from working summers. Now, both of them know much more than their peers and are doing very well. Good luck.