With silver dropping like a rock, it ight be tie for me to invest.

After payday (tomorrow yay!). So what do you all think I should get? Junk? ASEs? Bars? Maybe a Morgan? And should I perhaps wait a bit longer and see how far it'll drop? Opinions please.

 

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Buy what you know a lot about. Buy what you like. Buy whatever you are sure you can resell for close to melt or better even in a bad silver market. If you buy what the dealer is pushing or buy on a whim, a few hours after you get home you're going to say to yourself, "Why did I do that?"

 

I see what you're saying Cloudsweeper. What do I know? Franklin and Kennedy halves. Maybe I will stick to those. Or perhaps pick up a Walker to two, always wanted one.

And sorry guys, I'm not really that horrible of a typist, my m key just sticks a bit.

 

I'd go for a mix of everything you listed. Although I tend to favor ASE's.

 

The fundamentals of silver and gold have not changed. Our currency is inflating and PMs are a true store of wealth. If you are holding for the long term (10+) years, you will not be disappointed in your purchase of silver whether that be 90% "junk", ASEs, or generic rounds/bars. Don't wait too long to purchase because you can always use dollar cost averaging to your advantage.

With that being said, get your hands on something silver you've always wanted right now

 

Couldn't agree more with this logic!

 

Stay away from junk silver. For example, don't buy worn junky Franklins & Kennedy’s when you can cherrypick higher grade ones for little or no premium. Or, buy circulated Walkers & Mercs at close to melt. Since we've just had and unprecedented rise in PM's based more on fear than anything else, I don't like the long-term outlook for PM's. WHEN the economy recovers, hmm, what's going to happen to the fear factor that drove PM's up? If you include numismatic value in your buying, you soften your losses if/when the crash comes.

 

When the economy recovers?

Recovery means return to a previous state. Do you think the economy is going to return to the excessive/irresponsible debt fueled unsustainable consumption based potemkin economy that we had during the 2000s? People are buying PMs because they know the only solutions to these problems will require severe disrupting and fundamental changes to the economic structure of the USA. This isn't a long downside to a business cycle and the traditional solution of the last 40 years, trying to cover it by printing money, isn't going to work this time. This doesn't mean they won't try and thus the $ is being destroyed. It's only saving grace at the moment is the Euro, but that finally gets settled, it's next.

Anyone who has looked at this in any detail knows the economy isn't coming back despite the hopium constantly spewed by the mainstream media. This is why they are buying PMs. I think it will be clear enough when the time comes to start selling PMs but IMO, we are no where close to that point.

 

1964 John Pinches British Monarchs Seven-Piece Silver Medals Set

Like this? Just came in the mail today.

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One thing to keep in mind if you decide to buy from a local dealer is this.....................Will there be any silver left to buy after this recent drop in the spot price in silver? The reason that I am asking this is when spot dropped from $40 to just under $30, then local dealers in my area either 1.) were cleaned out by other silver buyers or 2.) took it off the showcase to wait for spot silver price to go back up.

 

As usual, good observation.:thumb:

 

Yeah, that happened in the 1980's too, took 2 years for dealers to accept the new low prices. They waited in the hopes it would "recover". And why not, when the price is swinging wildly, wait and see what happens rather than take a loss.

 

I like junk silver, mostly for collector purposes, and it doubles as stacking, but I prefer mostly bullion because you can melt it if you need to (I'm not sure about ASE's as legal tender so let's disregard those). It's a lot easier to add other types of metal than to separate it out. Plus you can get nice quality BU coins for low premiums if they don't have added numismatic value, which could potentially make greater profits if the effort is spent getting them graded.

 

The smartest guy I know sold 34k worth of silver last month and bought a house. It's called buy low sell high. Silver was at all time highs and real estate is at all time lows.

 

I don't recall hearing anyone lately talking about expecting the real estate market being due for pickup, but then again if you wanted to build a shelter out of precious metals you're looking at a bit of a price increase.

 

The economy will recover and attain new highs as it did even after 1929. It has recovered some and we could be out of this in 18 months if DC could agree on a recovery program. Yes, reputable economist all agree, as do I, you spend your way out of a recession and worry about the debt after the recorvery. If you think this recession is the end of humanity as we know it, well good luck to you, it's the only way PM's could continue to rise.

 

Not talking about anytime soon, but who knows. I rarely make financial decisions based on the short term. Short term financial planning is called speculation and most speculators get burned, although a few do make fortunes, most lose.

 

I think a recovery in this timeline is possible, but if they couldn't make the right decisions after the 2008 scare until now, it doesn't exactly inspire confidence that there is anything else that will jolt them into making decisions that benefit the masses instead of a few elitists. I'm looking at negative real interest rates for my primary barometer on metals, as well as money creation. Interest rates will probably have a lot to do with any successful recovery, but right now the game is borrow for free and loan back to the borrower to make profits on the low interest. Between that and high frequency trading algorithms that are now running in the nanoseconds, the strong hands in the economy right now are not adding much, if any productive capacity which I believe is necessary for the foundation of a solid recovery. I'd rather be broke and cursing the price of PM's in a strong economy with a strong dollar than being made rich at the expense of the greater good, but I feel the best course is to be able to function in any situation so that my livlihood is not dependent on any particular outcome. I think we will ultimately see a recovery after the current monetary system is reformed, new rules enforced to eliminate the risky gambling in the market (prevent shorts provided by fractional reserve banking, enforce position limits, remove margins, etc), and a new or revised currency backed by some kind of metal standard or, less preferably, a global currency basket without a metal backing which would be at risk of the same mistakes. The idea of paying the debt after a recovery isn't impossible, but at current debt levels it would require a recovery lasting longer than some governments do, and the amount of debt thrown into the system since 2008 has not proven to be very effective so far.

 

It took WWII for that to happen. Sure if we have something on that scale, then you might want to re-evaluate your financial positions.

 

This is what I meant by disruptive changes to the financial structure of the USA. Dont expect this anytime soon.

Too much cheap credit destroyed the economy. It began with the dot-com boom and then jumped to real estate. All while we were exporting our only wealth creating part of the economy, manufacturing, to other countries. So how do they attempt to fix a problem caused by too much cheap and irresponsible credit, oh, by making it even cheaper and more irresponsbile (goverment now takes the risk). If it were a hollywood script nobody would believe it, yet here we are an entire nation suffering from mass delusion because nobody can accept the fact "we" have been living in a financially unsustainable manner. It's pretty simply what caused the ongoing failure and pretty simple what needs to happen to fix it. Yet this isn't happening because it means drastic changes to the status quo and the status quo isn't ready to let go.

The entire concept put forth by the mainstream media that we are nothing but "consumers" should be offensive yet it's so engrained in the consience now that we have holidays devoted to the concept. i.e. Thanksgiving-Black Friday, Shopping Monday, etc. These things didn't exist a generation or so ago. No economy can exist on consumption. It's production that produces jobs. Yet when do you hear them talk about that now?

FDR's solution's of the 1930s were ineffective and led to a decade of more stagnation and they are being repeated again except that we have abandoned the good part of FDR's solutions. So in the long term, PMs will continue to be a good buy.