Well here goes nothing.....

Crash of 87? Why? Did you sell everything the very next day?

I guess I hadn't heard of anyone who had loss carryforwards from that event. I went to normal very quickly.

 

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Nope, I haven't read Ruben's (?) threads; this has been in the works for 7 or 8 years. In effect, I am lending mild support for the OP's actions.

And right now, I'd rather own $10K's worth of silver than $10K's worth of rare coins. Since the first of July, you have seen me selling off odds and ends, not because they have a bad future, but because they are relatively illiquid.

 

I ignore trolls 'as signals' though, and just because someone said something on the interwebs doesn't make it true. There's zero indication that Americans are pouring into Silver; quite the opposite in fact. Americans are still 'short' and net sellers.

I don't read 'CoinTalk' as indicative of the mainstream. Do you?

 

doug444-
Never met anyone (i.e. retail investor) who could successfully "trade" PMs, but for those who want to try trading AVOID BUYING BULLION. That cost-basis is way too high.
Use a brokerage account (PM ETFs.) The Paper PM cost/premium is almost nil and you need not worry about storage/burglary/etc.

This very basic sensible information is totally lost on someone hunting dime rolls for their future but that's how it goes LOL

 

It's not really that sensible if your reasons for holding physical PM are not met by ink on paper investing.

 

fatima-
That's not germane to doug444's point about TRADING. Holding isn't trading. You're chasing the tail in circles, here. People who panic in and out of investments ("gamble") shouldn't lock in the biggest possible losses with the largest headache, should they? Again: refer to the OP's case, not some other.

What do you suppose s/he paid, for premium? 10%? 20%? In a brokerage account, the cost is $9. a trade.

 

I believe it was you who brought up dime rolls to be held to the future. You compared your recommendation to that which obviously isn't trading either.

 

HOLY MOLY! I can't believe this thread exploded like this...lol .

I DID NOT do this for end of world scenario. I don't think that's gonna happen but if it does silver won't be any WORSE then cash or stocks IMO. I don't want silver indexed stock , because its worthless paper. I don't understand why you would want a piece of paper that says you own silver then actually owning silver......my 2 cents

You got that right brother!

My bad, your correct. I don't really consider my 401k because I wasn't smart enough to invest in it when I was young. I just started 5 years ago so there isn't all that much it here. Besides why would I sell my 401k at a PENALTY?
This is not a short term investing plan. I am not going to sell if silver hits 40..... But sometimes life happens and I feel this is the best fit for my particular situation. It's personal and Frankly embarrassing so I won't bother you with it. Hopefully it all works out.

 

You are correct that one post doesn't constitute a signal in the sense of buy or sell. But for me it is a signal of sentiment when folks start to go all in. I read cointalk and everything else as indicative of sentiment. In the late 90s, it was shortly after the old AOL investment chatrooms hit their peak and were filled with tech stock believers that it was time to exit the market. It will be the same here -- when the folks who should know better don't, the market might be getting a high and the bull market a bit old. But you are right that it will take more than one post.

 

Uhh, because its is not worthless paper......
Because you won't crushed by the premiums...
Because you don't need to worry about it getting stolen, lost in a flood, lost in a fire etc.
Because you don't need to pay for storage or insurance...
Because you don't need to worry about counterfeits...

 

i think gold and silver are good moves to bad you didn't do it sooner you would be even happier.you may want to buy some coins as some of the more demanded coins have out performed silver and gold since about 2004.not all coins of course fall into this catagory.that is another way of taking advantage of buying in at this late date unless gold or silver should make another big jump.

 

Burp.....indigestion.

Re-thought what I posted. Bad taste......sorry

 

This presumes that little fish like us can move the markets. In today's world of high frequency trading that just isn't true anymore. The parable of the shoe shine boy no longer applies IMO.

 

Luckily for me I don't plan on selling my money. I flip dollars for coins, not the other way around but yes, you make a good point, which is why I keep my receipts just in case I need them. I will add though that WA is the only state that will not be impacted one way or the other by the fiscal cliff outcome. So then how can this be true if the outcome has the potential to change the capital gains tax? I don't know the answer, it just begs the question in my mind.

 

Interesting thread. I've enjoyed reading this. Though everyone has their own strategy. Hope each reaps benefits.

 

Institutions can't really high frequency trade bullion. The mechanics of markets might change, but the psychology does not. Also, please note that I said this is only a first sign that the wrong mentality is creeping into the market. It isn't a sell signal yet, but this is the mentality that will lead to the end of the bull market.

 

I seriously do not know where you got that idea from sir. If the politicians are feeding you this line of bull then I would say you need better politicians, (don't we all though). All states will be greatly affected. US tax collections are massively larger than ANY state collections, so anything the US does with tax policy will by its very definition affect all states.

How any politician from any state can tell their constituents with a straight face the massive, historical tax increases that will be passed soon will not affect their state is beyond me. Maybe they are going for the "big lie" theory.

 

In addition to all of the (logical) reasons mikem2000 already stated, you need to be clear here. The ONLY scenario where a "worthless piece of paper" is not the same as owning the physical commodity itself is the scenario of a complete melt-down. And, in the case of a complete melt-down, no one is going to care that you have silver -- they are only going to care if they have food, shelter, warmth, water, etc. Thus, you're in a bit of a Catch22. But, if you like to keep a few thousand ounces of silver around the house just in case you "need" them, go for it. I'm not stopping you.

 

Not a big fan of studying history, eh?

 

Well, given that we haven't experienced the "Armageddon" yet, it's not exactly history.

During the Great Depression were there lots of people trading silver and gold trinkets for food on the streets? I think not. You precious metal fan-boys will always think what you want to think, and find some snippet of history to support your cause -- but I'm an analytical and logical person, and the "scenarios" simply don't pan out in a 21st Century world. I'm not going to "fight" or "debate" a topic such as this because in the end it's just a pool of opinions -- nothing more.

If you want to fill your basement with silver and gold (and based on your avatar, probably also firearms), have fun. I'm not stopping you.