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  • Precious metals investing

    I decided to delete my posts and not contribute any longer.
    Last edited by TheMaster; 09-27-2011, 09:43 AM.

  • #2
    Re: Precious metals investing

    100 oz bars is a little steep for me. I like the silver Maple Leafs from Canada. I buy a few at a time when I can spare the cash. Back when gold was around $850 I thought of cashing in some E bonds and buying gold Maple Leafs. I kept waiting for the price to take a good dip before buying. It never took a dip. I still have the bonds.
    Oh well, it is what it is. (Sorry Frankiarmz, I couldn't resist).
    Last edited by DSurette; 05-22-2011, 08:53 PM.
    When seconds count, the police are only minutes away.

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    • #3
      Re: Precious metals investing

      last time I bought copper pipe, and some steel flat bars for a project, I thought I had invested in PM,
      Push sticks/blocks Save Fingers
      ~~~~~~~~~~~~~~~~~~~
      "The true measure of a man is how he treats someone who can do him absolutely no good."
      attributed to Samuel Johnson
      ~~~~~~~~~~~~~~~~~~~
      PUBLIC NOTICE: Due to recent budget cuts, the rising cost of electricity, gas, and oil...plus the current state of the economy............the light at the end of the tunnel, has been turned off.

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      • #4
        Re: Precious metals investing

        I do not know how many have realized this,
        but #1 scrap steel and wheat grain (currently) is about same price per pound, and for a good many years scrap steel was worth about 1/3 to twice more than most grains,

        it is kinda makes one wonder when old junk out in the tree row, is worth more than one food crop, on how we value things,
        Push sticks/blocks Save Fingers
        ~~~~~~~~~~~~~~~~~~~
        "The true measure of a man is how he treats someone who can do him absolutely no good."
        attributed to Samuel Johnson
        ~~~~~~~~~~~~~~~~~~~
        PUBLIC NOTICE: Due to recent budget cuts, the rising cost of electricity, gas, and oil...plus the current state of the economy............the light at the end of the tunnel, has been turned off.

        Comment


        • #5
          Re: Precious metals investing

          I bought some gold and silver some years ago, 6.75 silver and 420. on the gold. Your talking about buying now and I'm trying to decide if it's time to sell yet.
          info for all: http://www.hoistman.com http://www.freeyabb.com/phpbb/index....wwtoolinfoforu --- "I like long walks, especially when they are taken by people who annoy me."

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          • #6
            Re: Precious metals investing

            I would sell. I have always been dubious of major investment in precious metals. The return is dependant on market price (not to be confused with value) and initial investment. The thing is that even if you had put 50 grand into gold 5 years ago your only getting 50 grand out if you sell. Mind you 50 grand ain't nothing to sneeze at but it's less than a years wage and a one time shot. gold and silver have very little real value in the market at all and the price is soley dependent on what ever someone values it because it's all shiney and such and makes good bling. Real investment should be made in precious commodity stock or those things that keep you alive such as food and medical stuff.
            sigpic

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            • #7
              Re: Precious metals investing

              I don't invest in the actual commodities, but do invest in a fund of precious metal mining (etc.) companies.

              USAA Precious Metals and Minerals: USAGX quotes & news - Google Finance

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              • #8
                Re: Precious metals investing

                Reminds me of the old Wheel of Fortune where you went shopping at the end. Had that gold bar in there you could buy.

                Might be smart to do. Like anything, timing.


                J.C.

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                • #9
                  Re: Precious metals investing

                  JC, what I'm saying is that it takes a huge investment to make a huge profit. The investment does not pay dividends.
                  sigpic

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                  • #10
                    Re: Precious metals investing

                    Investing in silver or gold is a gamble but investing iron ore dug out of Aus is a real investment and with fully franked shares where the tax is paid before you receive your dividend is like printing money all cheers for china

                    Tony

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                    • #11
                      Re: Precious metals investing

                      When I worked at the mine gold was at ~$250/oz. we ran broke down equipment and barely made payroll. crushing sorting, and selling the tails was the only thing keeping us afloat, and eventually it didn't. The only one making any money there was the guy doing boulders for landscaping. My boss thought that at $400/oz, we'd see mines reopening all over the place. Now, at over $1000/oz for several years, the place is open again, but still just selling aggregate.
                      This is my reminder to myself that no good will ever come from discussing politics or religion with anyone, ever.

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                      • #12
                        Re: Precious metals investing

                        Silver is up almost 5% already today. Its volatile but money can be made on the swings.

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                        • #13
                          Re: Precious metals investing

                          Here is my plan. 3 times that I know of silver has gone up alot, once was when the hunt brothers tried to corner the market the other time was when gold went up huge in the early 1980's or maybe late 1970's. well when silver goes back down to single digits . I'm going to buy an ounce a week. I believe in my life I'll see another run up. I don't see any huge value in gold or silver. I don't think it is used that heavily in industry. I think it is pure speculation driving the price which is fine by me. if this plan works like most of my other investments......well lets just say I'm still working

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                          • #14
                            Re: Precious metals investing

                            Silver will never go back down to single digits again. I would be very surprised to drop below 20 again. I really think we have some unavoidable inflation on its way that will drive the price up fairly quickly at some point. So far big jumps have been fear of what everyone knows will eventually hit.

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                            • #15
                              Re: Precious metals investing

                              You may be right Josh, especially about inflation. but I'll bet silver will be down to single digits, just like it always has. If not then my plan for rich's has been foiled........again

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