djwayne
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I'm buying silver...
I'm now buying silver as I think it's a good investment....if I would have bought silver instead of all the recording gear I' bought years ago, I'd be very rich by now. So I've decided to start buying silver to add to my retirement nest egg....here's a picture of what I got today !! There's no guarantees with the price of silver, but maybe, just maybe it may go up in value....
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Leadfoot
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Re: I'm buying silver...
2013/12/12 20:36:05
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That's a nice chunk o silver you got there djwayne. I've been thinking about getting into some of that too. I'm tired of watching my 401k go up and down, and wondering if the US dollar will even be worth anything by the time I'm ready to start drawing from it.
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bapu
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Re: I'm buying silver...
2013/12/12 20:37:15
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I'd want platinum. Double or Triple would be nice.
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bitflipper
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Re: I'm buying silver...
2013/12/12 20:51:03
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30 years ago I worked in a photo lab, where we recovered silver from the photoprocessing chemicals, which was then sold. Great little scam, since the IRS had no way of knowing how much silver the lab recovered. A service would come out, pick up the sludge and refine it into ingots. They'd also advise us when it was a good time to sell, or if we should hoard it.
Then one month the price of silver took a sharp rise. The service said hang on to the silver, it's going through the roof. Sure enough, it quadrupled in price in just a couple of weeks. So my coworkers started buying silver, too. My boss picked up $2k worth and asked me if I wanted to go halves on it, but my wife adamantly refused and I had to decline the offer.
Lucky for me, not so lucky for my boss. Turned out the price of silver had been artificially inflated when the Hunt brothers tried to corner the market. Once their scam was blown, the price of silver plummeted and never recovered. My boss - and good friend - hung onto that silver for the next 30 years. He died last year, never having seen those ingots ever be worth $2k again.
 All else is in doubt, so this is the truth I cling to. My Stuff
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djwayne
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Re: I'm buying silver...
2013/12/12 20:51:30
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Thanks, Well the price of silver goes up and down too....I'm gambling the price will go up again....the price is fairly cheap right now, so I decided to buy in a little. Either or, it's good to have some in case of emergency I could sell it off and get my money back....I'll never see the money I spent on my old DA-88 again....
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djwayne
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Re: I'm buying silver...
2013/12/12 21:19:27
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Well the above silver bar sells today for around $200, it wasn't long ago that they were selling for $450.....so the price could very easily rise again, who knows ??
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Rain
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Re: I'm buying silver...
2013/12/13 02:03:40
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TCB - Tea, Cats, Books...
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craigb
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Re: I'm buying silver...
2013/12/13 03:02:48
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Hey, feel free to gamble however you want, but I think you probably would be better off buying "close to vintage" guitars instead. They're more fun than some cold metal then you can sell them for more after they become vintage. 
Time for all of you to head over to Beyond My DAW!
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Mesh
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Re: I'm buying silver...
2013/12/13 08:55:43
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Good for you djwayne!! I think gold and silver will be worth far more than the US dollar.
Just wondering and I'm only going from word of mouth here, but isn't gold that's the more valuable commodity/better investment?
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Guitarhacker
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Re: I'm buying silver...
2013/12/13 09:18:11
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☄ Helpfulby Mesh 2013/12/13 09:32:34
As soon as the dollar crashes the precious metals will skyrocket in price. The question is ..when will that occur? I don't know, but I do know that no other nation has ever done what the US of A is doing right now in a fiscal sense and survived it with intact currency.
We are inflating our money supply to the tune of 40Billion or so a month. Anytime the fed hints that it might stop or slow down the pumping, the stock market does down. So it's artificially propped up. At some point it will collapse..... not if... but when.
Certainly to have some gold, silver and other metals is not a bad thing. Long term food storage and water as well as guns and ammo are a good investment ...... Just don't get too paranoid over it.
My website & music: www.herbhartley.com MC4/5/6/X1e.c, on a Custom DAW Focusrite Firewire Saffire Interface BMI/NSAI "Just as the blade chooses the warrior, so too, the song chooses the writer "
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djwayne
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Re: I'm buying silver...
2013/12/13 09:57:23
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Well gold prices are very expensive, you're looking at $1,225 an ounce right now. It was at $1,600 not too long ago, so if you bought in then you have lost a lot. Silver is considered the poor man's gold. It's cheap enough that poor people can invest in it, yet has great potential for rising in price.
As far as guitars go, I already have a few, and don't have room for more. They can also get easily damaged by accident or humidity, so you have to be very careful with them....silver you can pile in a stack and not worry about it.
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djwayne
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Re: I'm buying silver...
2013/12/13 10:11:40
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You have to be careful when buying gold or silver, because there's a lot of counterfeit stuff out there, that can even fool the experts....best to buy only from reputable dealers and stay off of ebay !!!
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Mesh
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Re: I'm buying silver...
2013/12/13 10:41:35
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djwayne
You have to be careful when buying gold or silver, because there's a lot of counterfeit stuff out there, that can even fool the experts....best to buy only from reputable dealers and stay off of ebay !!!
Very true. Just the other day, this guy paid $735 on Ebay for just a photo of the Xbox 1....(thinking he was buying the console).....although it was advertised as a "photo", being listed in the console section, and it's not catagorized as a scam, but it's somewhat unethical in motive in tryring to make money off of unsuspecting customers. Can't trust anyone these days.........very sad. http://news.cnet.com/8301-17938_105-57614630-1/teen-pays-$735-for-photo-of-xbox-one-on-ebay/
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djwayne
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Re: I'm buying silver...
2013/12/13 10:57:39
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The counterfeit silver and gold look very real. My mother bought me a gold coin she paid $100 bucks for it...of course it was fake. She thought she was doing me a great service, but got suckered. If that coin was real it would have cost her about $1,250. But instead she bought a gold plated coin that was worthless. It looks nice, but I know it's a fake.
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jbow
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Re: I'm buying silver...
2013/12/13 21:01:01
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I have 7 ros of 1964 and older quarters. I got them for between 95 and 105 bucks each. They are in my safety deposit box along with a bunch of Morgan silver dollars. I like silver because when it all falls apart it will be at a value where you can spend it... gold might be a little harder to spend. Guns and alcohol are always a good bet for trade if things fall apart. I wish I had bought gold back in the early 70s when it was 34 dollars an ounce. Investments are always a gamble, more so because of people who manipulate markets.
Julien
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Leadfoot
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Re: I'm buying silver...
2013/12/13 21:14:34
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When my grandpa passed away, he had a bunch of brand new 1964 silver dollars. I think I got 5 or 6 of them. I wonder what they're worth.
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craigb
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Re: I'm buying silver...
2013/12/13 23:06:21
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Leadfoot
When my grandpa passed away, he had a bunch of brand new 1964 silver dollars. I think I got 5 or 6 of them. I wonder how many new plug-ins I could get with them...
CDC'ed.
Time for all of you to head over to Beyond My DAW!
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Leadfoot
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Re: I'm buying silver...
2013/12/13 23:44:49
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craigb
Leadfoot
When my grandpa passed away, he had a bunch of brand new 1964 silver dollars. I think I got 5 or 6 of them. I wonder how many new plug-ins I could get with them...
CDC'ed.
LOL... 
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slartabartfast
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Re: I'm buying silver...
2013/12/14 04:31:31
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About the only thing you can say about commodities is that on a small scale at least, you will still have something to show for your investment when the price goes down. With paper assets you can't even melt them down to fill teeth. That is if you actually take possession of the stuff itself as opposed to buying futures etc. The problem then is that like diamonds, the guy who just sold you an ounce will offer you substantially less if you offer to sell it back to him before you take it off the counter, and less still plus an assay fee to confirm it is the real stuff if you take it home and bring it back the next day.
Clearly the central banks of the world are trying to force savings into the "economy" by loaning other banks money for free, and devaluing currency via "quantitative easing." Given the fact that insured savings are not keeping pace with inflation, everyone is tempted to put their money into stocks, commodities or (if they have short enough memories) real estate.
There are no fundamental reasons why the stock market value should be greater now than in 2007. The increase in value of stocks is entirely due to the implicit subsidy by the Federal Reserve et al. The smart money knows that, and there is a very high probability that if the subsidy is withdrawn, there will be a sudden massive flight from equities that will leave those who cannot execute orders in milliseconds holding the bag again. The situation is similar in other alternative savings options like gold or silver.
Whatever else you may think, you are buying into a bubble, and if you are not planning to get out quickly you stand a good chance of being burned. Alan Greenspan (the arch enabler of the real estate bubble, and father of the great recession) supposedly asked some of his banker friends why they took the risks that ruined their businesses in 2008 and was told that they all knew it was a bubble built on bull excrement, but they figured they would be smart enough to get out in time to leave the rest of the investment community stuck with the losses. Most of them were not that smart.
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KenB123
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Re: I'm buying silver...
2013/12/14 08:08:47
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How about purchasing 'bitcoins', the new up-and-coming virtual currency?
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auto_da_fe
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Re: I'm buying silver...
2013/12/14 08:43:15
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I have all my money in Royal wedding and birth memorial plate sets. Sure to increase in value.
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Guitarhacker
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Re: I'm buying silver...
2013/12/14 09:42:16
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Currently, and over the past several years, the historic ratio between gold and silver prices has been way off. Silver should be much higher according to some experts who study these things. Somewhere north of $50/oz. So you also have this factor at work IF.....if those ratio's ever correct themselves back to the historic norms. Since 1687, the gold-to-silver ratio has ranged from 14.14 to 99.76 (see chart below). Over this period, the average gold-to-silver ratio was 27.28 and today (March 8, 2012) the gold-to-silver ratio is 50.09.If silver were to rise to bring the gold-to-silver ratio back to its long-term average, the silver price must rise to $61/oz. (Of course, gold prices could also fall to lower the ratio. But let's assume gold is priced at fair value.)If the ratio were to return to the pre-1900 average of 16.13, the silver price would have to rise to about $105/oz. ^^^^^^ from this site: http://seekingalpha.com/article/422081-324-years-of-the-gold-to-silver-ratio-and-195-silver of course if you google or bing the phrase "historic ratio gold to silver" you will find lots of opinions. Most agree that silver is currently, vastly under-priced in the markets.
post edited by Guitarhacker - 2013/12/14 09:44:32
My website & music: www.herbhartley.com MC4/5/6/X1e.c, on a Custom DAW Focusrite Firewire Saffire Interface BMI/NSAI "Just as the blade chooses the warrior, so too, the song chooses the writer "
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57Gregy
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Re: I'm buying silver...
2013/12/14 09:44:59
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I won't care about gold or silver when it all falls apart; I'll want to know who's got the coffee.
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djwayne
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Re: I'm buying silver...
2013/12/14 10:47:48
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KenB123
How about purchasing 'bitcoins', the new up-and-coming virtual currency?
I'm very leery of bit coins... many people are saying it's just a big Ponzi scheme. lose your password and you lose your stash....I feel better having physical silver right in front of me.
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djwayne
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Re: I'm buying silver...
2013/12/14 10:49:35
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Guitarhacker
Currently, and over the past several years, the historic ratio between gold and silver prices has been way off. Silver should be much higher according to some experts who study these things. Somewhere north of $50/oz. So you also have this factor at work IF.....if those ratio's ever correct themselves back to the historic norms.
Since 1687, the gold-to-silver ratio has ranged from 14.14 to 99.76 (see chart below). Over this period, the average gold-to-silver ratio was 27.28 and today (March 8, 2012) the gold-to-silver ratio is 50.09.
If silver were to rise to bring the gold-to-silver ratio back to its long-term average, the silver price must rise to $61/oz. (Of course, gold prices could also fall to lower the ratio. But let's assume gold is priced at fair value.)
If the ratio were to return to the pre-1900 average of 16.13, the silver price would have to rise to about $105/oz.
^^^^^^
from this site: http://seekingalpha.com/article/422081-324-years-of-the-gold-to-silver-ratio-and-195-silver
of course if you google or bing the phrase "historic ratio gold to silver" you will find lots of opinions. Most agree that silver is currently, vastly under-priced in the markets.
I don't pay attention to gold/silver ratio's . They are two different commodities, and don't mean much.
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djwayne
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Re: I'm buying silver...
2013/12/14 10:58:55
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slartabartfast
About the only thing you can say about commodities is that on a small scale at least, you will still have something to show for your investment when the price goes down. With paper assets you can't even melt them down to fill teeth. That is if you actually take possession of the stuff itself as opposed to buying futures etc. The problem then is that like diamonds, the guy who just sold you an ounce will offer you substantially less if you offer to sell it back to him before you take it off the counter, and less still plus an assay fee to confirm it is the real stuff if you take it home and bring it back the next day.
Clearly the central banks of the world are trying to force savings into the "economy" by loaning other banks money for free, and devaluing currency via "quantitative easing." Given the fact that insured savings are not keeping pace with inflation, everyone is tempted to put their money into stocks, commodities or (if they have short enough memories) real estate.
There are no fundamental reasons why the stock market value should be greater now than in 2007. The increase in value of stocks is entirely due to the implicit subsidy by the Federal Reserve et al. The smart money knows that, and there is a very high probability that if the subsidy is withdrawn, there will be a sudden massive flight from equities that will leave those who cannot execute orders in milliseconds holding the bag again. The situation is similar in other alternative savings options like gold or silver.
Whatever else you may think, you are buying into a bubble, and if you are not planning to get out quickly you stand a good chance of being burned. Alan Greenspan (the arch enabler of the real estate bubble, and father of the great recession) supposedly asked some of his banker friends why they took the risks that ruined their businesses in 2008 and was told that they all knew it was a bubble built on bull excrement, but they figured they would be smart enough to get out in time to leave the rest of the investment community stuck with the losses. Most of them were not that smart.
Looking at past performances of silver...I know it can go either up or down from where it's at now. I was spending my money on electronic goods which have all gone waaay down in value and is practically worthless and outdated now. Hopefully silver will at least retain it's value over the years and give me a nest egg for my retirement. Anything is better than electronic goods.
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bitflipper
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Re: I'm buying silver...
2013/12/14 13:21:30
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The thing about metals is that they have intrinsic value, separate from market-based fantasy pricing. That means they'll always be worth something, no matter what. As long as silver and gold and platinum continue to have industrial uses, and as long as their scarcity remains constant (i.e. alchemy doesn't suddenly become a real thing) then you're at least assured their value will never fall to nothing. Unlike bitcoins, virtual real estate, or Chinese guitars.
All else is in doubt, so this is the truth I cling to. My Stuff
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craigb
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Re: I'm buying silver...
2013/12/14 15:50:38
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What Bit said is exactly why I used to trade commodities. Back in '76 I saw my grandfather's stock go from $140/share to zero in two weeks (much longer story). Commodities are always worth something and there are usually safeguards in place to prevent huge swings such as what took place when the Hunt brothers tried to corner the silver market (my Uncle lost $330k thanks to them - real money, not "on paper"). If you look at all the most traded commodities, you'll see that all of them go up and down all over the place over time with two exceptions. The first is Silver thanks to the Hunt brothers, but if you take out that one huge spike then it looks like the rest. The second is the S&P 500 which, of course, is tied to stocks and that is an artificial market based on human fear and greed. I've got a 200 year chart that covers two pages of one of my trading books and it literally starts at the bottom left corner of one page and goes in a fairly straight line to the top right corner of the next page. The "crashes" look like tiny little corrections at this level.
In 1999, I had 89 contracts of Gold worth several million dollars expecting a big jump up (which happened). Unfortunately, I set my goal about six points too high and lost about $300k in profits (including losing over $170k in one day!), but still came out very nicely overall. Trading is certainly NOT something for just anyone to try. It can eat up the emotional types. That said, I don't see any good reason to own the actual commodity when I can control it for far less.
Time for all of you to head over to Beyond My DAW!
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djwayne
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Re: I'm buying silver...
2013/12/14 16:10:03
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Owning the actual commodity to me means real wealth in my hands. I don't want paper. Having silver right here in my hands is a no bull s___t way of having wealth. I can sell it anytime I want. I can store it for as long as I want...I don't want some shady finance manager getting his hands on my wealth. This is the real deal. I don't want some banker handling my finances right into the ground...I don't want some fast talking stock broker, selling me stocks that become worthless in time. I don't want some music store salesman selling me junk that loses it's value in no time. If times get tough, I can always pawn it off as it's regarded as very valuable goods at the pawn shops. Guitars ?? Not so much.
If I would have bought silver years ago, I'd be very rich right now...so now it's a good time to get started as far as I'm concerned. I wish I had lot's more.
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spacealf
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Re: I'm buying silver...
2013/12/14 16:38:11
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Fiat money.
I have 6 bottles of wine though. Oh, that is to drink though!
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