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Publius
New Member
USA
20 Posts |
 Posted - 05/31/2009 : 21:38:13
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I have wanted to jump onto the PM bandwagon for some time, but my money was tied up in other areas. Now that I am able to buy large quantities, the prices are skyrocketing. So, does anyone think silver will drop down to or below $14.75, or gold below $950.00? Or are these PMs just going up and up from here on out? Should I just buy now? I am not looking to make any profit, just looking to protect the value of my money as the dollar Zimbabulates. 
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TenBears
1000+ Penny Miser Member
USA
1021 Posts |
Posted - 05/31/2009 : 21:44:59
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| Buy a set amount each month that you can afford. That way you can dollar cost average your PM holdings. |
"Rich," the Old Man said dreamily, "is not baying after what you can't have. Rich is having the time to do what you want to do. Rich is a little whiskey to drink and some food to eat and a roof over your head and a fish pole and a boat and a gun and a dollar for a box of shells. Rich is not owing any money to anybody, and not spending what you haven't got." Robert Ruark
there are too wild Indians...
there are too wild Indians...
there are too wild Indians...-----still taunted
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buyingsilvers
Penny Collector Member
441 Posts |
Posted - 05/31/2009 : 21:58:21
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| buy in slowly. A lot of panicked investors have gotten burnt by jumping in both feet without looking. |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Silver Surfer
Penny Pincher Member
USA
148 Posts |
Posted - 05/31/2009 : 22:31:45
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My approach has been a cautious one. Dollar-cost-averaging into silver. Hoarding as much as I can afford. No plans to sell. Many people believe, hyperinflation will cause a spike in PMs. Others think PMs will take a hit if the economy worsens. Unfortunately, there is no crystal ball to guarantee us the right answers. Learn all you can and ultimately go with your gut instincts.
The following articles may be helpful:
What Rises 3 Times Faster Than Gold?
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Gold: It's a bargain at $930 an ounce
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The Changing Importance of Gold
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Shorting Gold: 12 Reasons For Making The Case For This Contrarian Investment
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"Of all tyrannies, a tyranny exercised for the good of it's victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busy-bodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their own conscience." - C.S. Lewis |
Edited by - Silver Surfer on 05/31/2009 22:32:55 |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 05/31/2009 : 23:09:10
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The swings in silver only seem turbulent if you're looking at short-term investment. I've got all my PM money in silver and don't plan on buying gold until silver rises significantly relative to gold or until gold becomes significantly cheaper. The WORST thing you can do is hold onto paper investments that are losing money; the second-worst thing you can do, IMO, is treat precious metals as an investment to make money on rather than long-term financial insurance--which is the way we should view it, with the U.S. dollar heading for hyperinflation. Here are a few links with some food for thought on silver:
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You might also send a message to C140Cessna. He's probably the biggest silver bull on this board and could give you some things to think about.
One more thought: I don't consider silver to have "skyrocketed"--it's still about 1/4 below it's peak of about $22 an ounce in March 2008, but adjusted for inflation, it's absolutely rock-bottom compared to the record price it hit in 1980. Just my two cents, buy all the silver you can, while you can, and don't look back. You'll be very glad down the road that you did. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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sumrtym
Penny Sorter Member
36 Posts |
 Posted - 05/31/2009 : 23:35:30
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quote:
Originally posted by Nickelless
One more thought: I don't consider silver to have "skyrocketed"--it's still about 1/4 below it's peak of about $22 an ounce in March 2008, but adjusted for inflation, it's absolutely rock-bottom compared to the record price it hit in 1980.
You know, you were making sense regarding the main play of precious metals as a hedge to maintain value, not make money, till you made that statement. That's like saying tulips are rock-bottom adjusted for inflation since their record price in 1637... |
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highroller4321
1000+ Penny Miser Member
USA
2648 Posts |
Posted - 05/31/2009 : 23:51:07
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If you are just looking as PM's as a hedge against the USD than it doesnt really matter what price you jump in at because we all know the dollar is just going to keep weakining! Unless they finally smarten up and start to fix the issues!
I guess it depends on what you consider a "large quantity" and what other goals you have for your PM's.
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Copper Penny Investing
www.portlandmint.com |
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Nickelless
Administrator
USA
5580 Posts |
Posted - 06/01/2009 : 00:31:34
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quote:
Originally posted by sumrtym
quote:
Originally posted by Nickelless
One more thought: I don't consider silver to have "skyrocketed"--it's still about 1/4 below it's peak of about $22 an ounce in March 2008, but adjusted for inflation, it's absolutely rock-bottom compared to the record price it hit in 1980.
You know, you were making sense regarding the main play of precious metals as a hedge to maintain value, not make money, till you made that statement. That's like saying tulips are rock-bottom adjusted for inflation since their record price in 1637...
Adjusted for inflation, silver would have to hit close to $250 an ounce to be at the same price level now as it was in 1980. I stand by my statement. |
Visit my new preparedness site: Preparedness.cc/SurvivalPrep.net
--Latest article: Stocking up on spices to keep food preps lively
---------------
Be prepared...and prepared to help: http://www.survivalblog.com/charity.html
Are you ready spiritually for hard times? http://www.jesusfreak.com/rapture.asp |
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sumrtym
Penny Sorter Member
36 Posts |
Posted - 06/01/2009 : 19:38:05
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| Again, though quoting 1980 prices is like quoting tulip prices in 1637. The reasons behind that move had to do with unrestrained speculation and market manipulation. |
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Publius
New Member
USA
20 Posts |
Posted - 06/01/2009 : 21:44:50
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Thank you all for the wealth of information. I think my conclusion will be to favor silver over gold, at least for now. And to hoard copper cents, of course. 
Bottom line, the dollar is DONE, and I doubt the folks in Washington are going to change their ways or that the American people will wise up. Such is life.
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Time to buy silver or gold?
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