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Old 12-28-2011, 02:21 PM
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Default Is silver gonna keep going down?



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I purchased some silver when it was in the 32.00 range, and ever since it is consistently going down. Just my luck. Do you think it is going to continue to drop, or is now a good time to buy? It is below 27 today.
Old 12-28-2011, 02:23 PM
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Well, looking at recent charts, silver pretty much held it's price for quite awhile. I personally think it is going to climb back up. I haven just recently looked into purchasing silver, so I will be buying. Weigh the possible pros and cons. If all else fails, just buy 5-6 1oz US American Eagles, you will be out less that 160$, and if it does climb, you have a good addition.
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Old 12-28-2011, 02:25 PM
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I would also like to add that I did not purchase a whole lot just a couple hundred dollars worth, so it is no big deal.
Old 12-28-2011, 02:36 PM
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I'm buying today at under 27 but I always buy
Old 12-28-2011, 02:40 PM
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I think it will go back up again. I'm buying while it's down.
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Old 12-28-2011, 02:44 PM
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It's funny, I was telling people all over these boards to sell their their silver when it was near $50. "It's a bubble" I said. "sell what you have now, don't be greedy, you'll lose out." I said.

Everyone was like "screw you, I'm buying more" . Now look.

Everyone always wants to think that the rules don't apply. They always want to believe that somehow we are bucking the trend, blazing new trails, in "uncharted territory".
BALONEY. Look now, I told you so. The silver market did EXACTLY what every sane person said it would. It adjusted, and adjusted hard.

Silver as an investment vehicle is about like having your money in a very, very low yeild CD. If you're lucky, it MIGHT keep up with inflation.
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Old 12-28-2011, 02:50 PM
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Sorry, but if silver was at 50 an oz, I would sell ALL of my stock. I mean every last bit.
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Old 12-28-2011, 03:29 PM
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Originally Posted by The Heathen View Post
Sorry, but if silver was at 50 an oz, I would sell ALL of my stock. I mean every last bit.
Yeah, but a lot of people on this board didn't. They were BUYING at 47.00! All the while talking about silver going up to 60.00, 80.00, even 100.00.
Just like people caught up in a bubble always do........

Me and few others kept saying that it wasn't sustainable, that they should get out now, and it was laughed at.
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Old 12-28-2011, 03:31 PM
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Quote:
Originally Posted by Chadf View Post
I purchased some silver when it was in the 32.00 range, and ever since it is consistently going down. Just my luck. Do you think it is going to continue to drop, or is now a good time to buy? It is below 27 today.
Hang on to what you have. I bought just under $31. As far as how low it may move is a good question I can't answer, but 27 seems like a good price and I wish I had more spare change to buy some more.
Old 12-28-2011, 03:37 PM
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Quote:
Originally Posted by Cannon Fodder View Post
Yeah, but a lot of people on this board didn't. They were BUYING at 47.00! All the while talking about silver going up to 60.00, 80.00, even 100.00.
Just like people caught up in a bubble always do........

Me and few others kept saying that it wasn't sustainable, that they should get out now, and it was laughed at.
That's ridiculous. I would sell at that price all day.
Old 12-28-2011, 03:45 PM
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Cool silver: buy

Quote:
Originally Posted by Chadf View Post
I purchased some silver when it was in the 32.00 range, and ever since it is consistently going down. Just my luck. Do you think it is going to continue to drop, or is now a good time to buy? It is below 27 today.

Keep buying. Buy into a correction. Or try to time the bottom which is what we all try to do and often fail miserably.
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Disclaimer: The information I provide is my unaffiliated opinion and not reliable as financial advice. Past performance guarantees SHTF.
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Old 12-28-2011, 03:51 PM
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Well I got laughed at when I bought at 4.00 and 6.00 and once for silver and 235.00 for gold. But we did it to have value to pay off taxes when money becomes worthless. I still don t see that changing. I'm not in it for a profit but to maintain our wealth.As for buying more we still do it until the crash comes.If not for us for our kids.
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Old 12-28-2011, 03:58 PM
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For us this is a mute question when we started purchasing silver it was for long term investment. We are still buying when we can. I look at it this way in 20 years when we get ready to retire it will be worth more. I can be sure of this because there isn't even enough gold or silver to cover all the hold orders (paper metal) that are in exsistence now what do you think it will be like in 20 years. Silver and gold prices are held down by greedy corrupt bank and elite big wigs, if the financial shtf I want to be sitting on a little mound of metal lol. It's like a insurance policy and investment all in one.
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Old 12-28-2011, 04:00 PM
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Chad,

The question is "why did you buy the silver to begin with?"

As an investment, like Cannon Fodder said, silver doesn't make much sense - it is inherently volatile. If you want a small percentage of your investment portfolio in silver, so be it - but there are other vehicles I'd rather invest in if I wanted volatile.

But as a hedge, different story. In the (admittedly unlikely) scenario where the EuroZone crashes, Greece and Italy default on their sovereign bonds, Euro banks take huge write-downs, US banks that bought into their bond positions (like Bank of America) also take huge losses, and a cascade of consequences is set into motion that winds up devaluing the US dollar and causing broad inflation -- in THAT sort of scenario having $5K or $10K or $20K in precious metals makes a lot of sense. This is particularly true in the case of silver coins, since expecting change from someone to whom you hand a gold Krugerrand for a quart of milk and a dozen eggs is sort of pointless.

If you've bought silver as an investment, then, perhaps a nice foreign small cap fund may have been a better option.

But if you're looking to put aside some hard currency that will not only retain value but will keep up with rampant inflation, then the current silver prices represent a buying opportunity and you should carry on accordingly.

How you view the current price point depends a lot on why you bought silver to begin with.

YMMV.
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Old 12-28-2011, 04:28 PM
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I've bought at many price levels, and I'll continue to do so. If you're ready to buy, do it. None of us can predict the future, so it's hard telling what silver will be like next week, or next month.
Old 12-28-2011, 04:31 PM
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Originally Posted by Octomonkey View Post
I've bought at many price levels, and I'll continue to do so. If you're ready to buy, do it. None of us can predict the future, so it's hard telling what silver will be like next week, or next month.
But you probably aren't doing it as an investment, are you? More of a hedge, or just to have it in case SHTF.

I think the danger is people reading stuff on here, and making really bad choices, like investing in PM's instead of stocks. For retirement and long term, not SHTF.
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Old 12-28-2011, 04:44 PM
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Quote:
Originally Posted by Grotius View Post
Chad,

The question is "why did you buy the silver to begin with?"

As an investment, like Cannon Fodder said, silver doesn't make much sense - it is inherently volatile. If you want a small percentage of your investment portfolio in silver, so be it - but there are other vehicles I'd rather invest in if I wanted volatile.

But as a hedge, different story. In the (admittedly unlikely) scenario where the EuroZone crashes, Greece and Italy default on their sovereign bonds, Euro banks take huge write-downs, US banks that bought into their bond positions (like Bank of America) also take huge losses, and a cascade of consequences is set into motion that winds up devaluing the US dollar and causing broad inflation -- in THAT sort of scenario having $5K or $10K or $20K in precious metals makes a lot of sense. This is particularly true in the case of silver coins, since expecting change from someone to whom you hand a gold Krugerrand for a quart of milk and a dozen eggs is sort of pointless.

If you've bought silver as an investment, then, perhaps a nice foreign small cap fund may have been a better option.

But if you're looking to put aside some hard currency that will not only retain value but will keep up with rampant inflation, then the current silver prices represent a buying opportunity and you should carry on accordingly.

How you view the current price point depends a lot on why you bought silver to begin with.

YMMV.
The reason I bought it was for a SHTF scenario. Like hyper inflation or something. I know I did not buy a lot, but didn't have a whole lot to spend. I'm trying to put a majority of my money into food, and stuff that can actually be used. I don't plan on ever selling the silver I bought unless I desperately need to.

After I get a better stash of preps going I may buy some more silver, or gold.

I read in another thread that people are hoarding nickels and, pennies as a hedge against inflation. What is everyones thoughts on this?
Old 12-28-2011, 05:08 PM
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I buy silver as a hedge against some unforseen collapse or financial debacle and nothing more. I have money invested elsewhere and buy silver when I have extra to spend on it. The dollar has hit its highest level in over a year now which may have something to do with it. I have a number of ounces in mind I want to have then I'll stop there probably and start investing more again elsewhere. I agree with what most here say that PM's should not be your prime investment by any means.
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Old 12-28-2011, 05:13 PM
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Default I bought at 33 - I caused the decrease in value :)


I decided to pick up around 100ozs when it was around 33 as a hedge. This was when the whole threat of a downgrade was being bandied about and how the Eurozone was being promised to suck us into a global downturn.
I'm disappointed that I'm not enjoying any return on my investment with it sitting under 28 atm, but... as I said - I picked it up for dire-situation-bartering and hedge more than growing my wealth. If it keeps dropping, I may pick up another 100ozs
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Old 12-28-2011, 05:15 PM
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So, after reading a few comments here, I have a question. My initial interest in purchasing silver was to have a valid form of currency in a shtf scenario, however. I am also interested in putting money into something that will yield a monetary return, any suggestions? PM me so this entire thread doesn't become derailed. Thanks.
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