Is Buying Silver Bullion a good idea? Any thoughts appreciated also!

[davidking623]

Just wondering what the general thinking is on this subject?

 

Thanks

 

Davidking623

[MTHead-migration]

I voted No. If I'm going to spend money on silver it's going to be in coin form. Preferably World coin form. Might I suggest you look at some Italian, Swiss, German, French silver?

[delekkerste]

Just wondering what the general thinking is on this subject?

 

Thanks

 

Davidking623

 

It will prove to be a much better store of value than CGC-graded comics, methinks.

[shadroch]

I buy junk silver. A couple of times a year I hit some local coin shops and pick up various coins that were due to be melted down. In my neighborhood they tend to be Mexican types. Have a few hundred of them and add about 50 a year. Also buy 5 to 10 Silver Eagles and a few Peace Dollars each year. Guess thats bulk silver.

[jtryka]

I'd rather have gold, but I do buy silver, at least a roll of silver eagles every year, plus junk silver every now and then. I also agree with MTHead in that foreign silver is pretty cool. I buy for melt value from a local dealer that comes to the local show each month. Lately I've been fascinated by coins that were once pegged to the dollar, like Panama, Columbia etc. such that the coins have the same silver content as US issues. Though Swiss and French francs are probably some of the nicest designs for silver coins with the standing and walking Liberties.

[davidking623]

Thanks guys for your input! I would appreciate more as I feel very strong about owning bulk silver its a commodity that will balloon overnight or during the day and I am buying it only for that reason.Gold is nice but I believe above ground Silver is more rare because of the uses of silver vs. Gold.Thanks

 

Davidking623

[davidking623]

Just wondering what the general thinking is on this subject?

 

Thanks

 

Davidking623

 

It will prove to be a much better store of value than CGC-graded comics, methinks.

 

Yes this is where I will make a real killing on Silver from the Sales of CGC Graded Comics!

 

Davidking623

[cybersharque-migration]

The problem with silver is that its primary "use" was photographic, and that demand has tanked thanks to the digital revolution. There are still some artistic people making silver gelatin prints, and there are even people printing digital photos onto high-end silver papers, but the enormous amounts of silver eaten up by Kodak and the like are kind of at an end.

 

Next blip in precious metals will be the downturn in platinum thanks to the displacement of catalytic converters by hybrids and alternative-fuel engines. But that will take longer, and platinum will always have enormous industrial uses as a catalyst. But unless there's a real uptick in people wanting to hold silver coinage, the underlying dynamics for silver are downward. I suspect that the only reason silver is up is that people see it as an alternative to gold, which is overheated (though I think silver will turn down sharply long before gold does, because Arab money will continue to salt bucks away in gold for the foreseeable future).

[davidking623]

Hello and interesting insight! But to be fair so everyone can know the true facts about the use of Silver you should probably start here Silver uses!

 

And since I am talking about it why is it the only one that has a users assciation why doesnt Gold or platinum or pladdium or Copper have one its because the users of this Metal is making it more Rare above ground than Gold! Heck even the people that want to keep this stuff at record low prices tell us its rare! For your pleasure of reading it. Silver Eft making the Silver users assciation take notice!

 

At any rate if Silver goes down I will only be smiling as my dollar buys more Silver!

 

Davidking623

[EZ_E]

The problem with silver is that its primary "use" was photographic, and that demand has tanked thanks to the digital revolution. There are still some artistic people making silver gelatin prints, and there are even people printing digital photos onto high-end silver papers, but the enormous amounts of silver eaten up by Kodak and the like are kind of at an end.

 

Next blip in precious metals will be the downturn in platinum thanks to the displacement of catalytic converters by hybrids and alternative-fuel engines. But that will take longer, and platinum will always have enormous industrial uses as a catalyst. But unless there's a real uptick in people wanting to hold silver coinage, the underlying dynamics for silver are downward. I suspect that the only reason silver is up is that people see it as an alternative to gold, which is overheated (though I think silver will turn down sharply long before gold does, because Arab money will continue to salt bucks away in gold for the foreseeable future).

 

Very intelligent post which will probably hold true.

 

Also worth mentioning is that many Radiology departments are going filmless due to digital radiography. This alone is a huge section of the silver market.

 

There is a silver recovery system on chemical processors which recover much of the silver on x-rays which is washed away, which proves the amount of silver used is enormous.

[davidking623]

The problem with silver is that its primary "use" was photographic, and that demand has tanked thanks to the digital revolution. There are still some artistic people making silver gelatin prints, and there are even people printing digital photos onto high-end silver papers, but the enormous amounts of silver eaten up by Kodak and the like are kind of at an end.

 

Next blip in precious metals will be the downturn in platinum thanks to the displacement of catalytic converters by hybrids and alternative-fuel engines. But that will take longer, and platinum will always have enormous industrial uses as a catalyst. But unless there's a real uptick in people wanting to hold silver coinage, the underlying dynamics for silver are downward. I suspect that the only reason silver is up is that people see it as an alternative to gold, which is overheated (though I think silver will turn down sharply long before gold does, because Arab money will continue to salt bucks away in gold for the foreseeable future).

 

Very intelligent post which will probably hold true.

 

Also worth mentioning is that many Radiology departments are going filmless due to digital radiography. This alone is a huge section of the silver market.

 

There is a silver recovery system on chemical processors which recover much of the silver on x-rays which is washed away, which proves the amount of silver used is enormous.

 

Silver at 9.50

 

Davidking623

[davidking623]

The problem with silver is that its primary "use" was photographic, and that demand has tanked thanks to the digital revolution. There are still some artistic people making silver gelatin prints, and there are even people printing digital photos onto high-end silver papers, but the enormous amounts of silver eaten up by Kodak and the like are kind of at an end.

 

Next blip in precious metals will be the downturn in platinum thanks to the displacement of catalytic converters by hybrids and alternative-fuel engines. But that will take longer, and platinum will always have enormous industrial uses as a catalyst. But unless there's a real uptick in people wanting to hold silver coinage, the underlying dynamics for silver are downward. I suspect that the only reason silver is up is that people see it as an alternative to gold, which is overheated (though I think silver will turn down sharply long before gold does, because Arab money will continue to salt bucks away in gold for the foreseeable future).

 

Very intelligent post which will probably hold true.

 

Also worth mentioning is that many Radiology departments are going filmless due to digital radiography. This alone is a huge section of the silver market.

 

There is a silver recovery system on chemical processors which recover much of the silver on x-rays which is washed away, which proves the amount of silver used is enormous.

 

Silver finding support at 10.00 Gold looks to be finding support at 550.00

 

Davidking623

[shanonmore]

I've been bulking up via my coin dealers "junk" silver and buying more canadian bullion silver from him. I think it's a good investment. I've been watching the Silver Market for a while now and it tends to be going Silver's way right now and to me, that shows that I should bulk up where I can in case it justs goes higher due to various posts and websites I've visited.

[davidking623]

Silver closed at 10.53 New York

 

Davidking623

[davidking623]

Silver flirting with 11.00 spot at 10.94 right now!

 

Davidking623

[davidking623]

Silver at 11.19

 

Davidking623

[davidking623]

Silver at 12.15

 

Davidking623

[davidking623]

Silver 12.61

 

Davidking623

[EZ_E]

Also worth mentioning is that many Radiology departments are going filmless due to digital radiography. This alone is a huge section of the silver market.

 

There is a silver recovery system on chemical processors which recover much of the silver on x-rays which is washed away, which proves the amount of silver used is enormous.

 

However, of the dozen hospitals which I have worked at, only one of them were almost completely digital. They would print films as a hardcopy only incases where the films were to be sent out. Even with the advent of the PACS system (Picture Archiving and Retrieving System) which stores patient film data, a hardcopy is still usually printed out which continues to place demand upon silver usage.

 

From: davidking623

 

Helo it is really amazing to watch I have a nice little stash!How high can it go there is a question I am afraid to answer I think it can go really high in the long run as it really is rare and a indispensible metal that has new uses for it all the time!I just read a article on Superconductivity that it may have a need of 50 million ounces or more a year with in 10 years of use the uses keep coming up for it and if you took the time you should get at least a little what ever you could afford even if it is a little some is better than none! Silver is closing on 13.00 right now as I type this! Where will it go I dont know again for sure but Silver is a investment opportunity of a lifetime and I really recomend physical Silver. If your looking for a short term gain I probably would'nt recomend it that strong but as a mid to long term wow great thing to invest in!Right now as we speak they are trying to find some 130 milliion ounces for the Silver ETF which is Physical Silver investment vehicle,althought not approved most likely a great 99% chance that it will!Let me tell you this right now there is 4 times less Silver in above ground form than Gold. Gold is at 600.00 right now and Silver is at almost 13.00 when I heard that and really figured that out for myself I went on buying silver 7.00 dollars back in August! I am going to go buy a little tommorow if I can find it!

 

Good Luck,

 

David

 

Just got this PM from David. His excitement and enthusiasm shines through. He certainly makes some excellent points.

[jtryka]

Of course, I agree with a lot of what David is saying, but I think it's important to look beyond the industrial uses. The powers that be have a vested interest in proliferation of fiat currency and perpetual inflation, the hidden "tax" that affects all us poor plebians. They have done a remarkable job of PR convincing most people that gold and silver are mere commodities, with silver having more industrial uses. They have worked hard to completely dispense the truth that BOTH metals are monetary metals, and have been for much of human history. The US dollar was defined in the Coinage Act of 1792 in silver, not in gold:

 

"...Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver."

 

Although it also proscribed gold eagles, half eagles and quarter eagles to be minted, it also included this important provision from Section 11:

 

"And be it further enacted, That the proportional value of gold to silver in all coins which shall by law be current as money within the United States, shall be as fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value in all payments, with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals."

 

This section shows that the founders believed silver to be equal to gold in a monetary sense, though in a larger proportion. Note that there was no such fixed ratio of coins made from copper! Silver is a monetary metal despite what the "experts" would have you believe. Mexico today has a movement to make silver once again money in that nation perennially besieged by inflation of fiat pesos, and the Middle East and India have historically trusted silver as money. Those of us who understand that "silver is an industrial commodity" is a myth will be far more prepared for the current rise in metals prices as faith in government paper continues to wane.

[davidking623]

Of course, I agree with a lot of what David is saying, but I think it's important to look beyond the industrial uses. The powers that be have a vested interest in proliferation of fiat currency and perpetual inflation, the hidden "tax" that affects all us poor plebians. They have done a remarkable job of PR convincing most people that gold and silver are mere commodities, with silver having more industrial uses. They have worked hard to completely dispense the truth that BOTH metals are monetary metals, and have been for much of human history. The US dollar was defined in the Coinage Act of 1792 in silver, not in gold:

 

"...Dollars or Units—each to be of the value of a Spanish milled dollar as the same is now current, and to contain three hundred and seventy-one grains and four sixteenths parts of a grain of pure, or four hundred and sixteen grains of standard silver."

 

Although it also proscribed gold eagles, half eagles and quarter eagles to be minted, it also included this important provision from Section 11:

 

"And be it further enacted, That the proportional value of gold to silver in all coins which shall by law be current as money within the United States, shall be as fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value in all payments, with one pound weight of pure gold, and so in proportion as to any greater or less quantities of the respective metals."

 

This section shows that the founders believed silver to be equal to gold in a monetary sense, though in a larger proportion. Note that there was no such fixed ratio of coins made from copper! Silver is a monetary metal despite what the "experts" would have you believe. Mexico today has a movement to make silver once again money in that nation perennially besieged by inflation of fiat pesos, and the Middle East and India have historically trusted silver as money. Those of us who understand that "silver is an industrial commodity" is a myth will be far more prepared for the current rise in metals prices as faith in government paper continues to wane.

 

Well put my friend!

 

I am 44 years old at this time and with all my Silver buying in the last 8 months I came to understand the true meaning of Gold and Silver as monetary values, they have always been and always will be money!!Although I never understood it thru all this time its funny how brainwashed we are as a socieity. Here Paper is money and that is all you know then how do you say otherwise when you really didnt know in the first place and that was all your were taught! Now when I have a 20 dollar bill in my hand I see it for what it is and not what it was PAPER = GOLD OR SILVER my counterweight balance says Silver or Gold your choice paper doesnt even weigh anything and yet it has value becaue the government makes us to believe it does! All I know is our government is a fraud for this as you truly cant print Gold or Silver like you can with Paper! Now the government doensnt even let us know how much they print as with 3M no longer being reported.Trust me I know its a 24/7 operation now as they devalue our paper by the second! not that it really had any value in the first place!

 

I made a comment the other night to someone, that our dollar was going down in value again tonight! He said to me where do you really get this infomation?He must of thought I meant our dollar against the Euro or the Pound but went on to rave about the euopeans dont want to accept our dollar and join us in the Fiat system and that our dollar was doing just fine! My reply was this: Wow I didnt mean to upset you here but on Friday I could buy a lot more Silver with the Dollar and come this Monday Morning I cant buy as much with my dollars,You really need to take a look at your thinking and learn to think outside the box! He didnt seem to have much of a reply to that!

 

At any rate with Mexico looking at making the Silver come to life one day thru legislation there it would be a good thing as those people really like Silver as money and you know what so do I

 

Davidking623

[davidking623]

Silver is going up again (13.31 right now)and I wouldnt want to mislead anyone with a investment,but must ask anyone that is reading this now that I have found a chart that that is similar with the 1979 Silver Chart and the chart we now have going on right now 2005-2006 Chart! I found this to be of such excitment I have now posted this here for the 4th time this evening and would encourage anyone to buy some at least a little of Silver in a physical form not anything that is paper form.If you go buy yourself 7 ounces of Silver right now that will set you back a little around a 100.00 dollars,but at least you will have more than most people around the word would have.I am not recomending the bank here I am just encouraging buying a little of what ever you can afford as it truly is a investment opportunity of a lifetime long term and with this news possibly shorterm for the first time in my thinking! Here is the place to go look at this chart that I speak of as Silver hit 50.00 dollars back then and now Silver is much more rarer than Gold so I wonder what diffrence it could make, WOW, WOW I am excited!!!!!!

 

http://news.silverseek.com/CliveMaund/1145234883.php

 

Davidking623

[EZ_E]

Jeff and David, outstanding posts with valid points!

 

Inflation is simply an increase in the money supply, period! I don't care what kind of convoluted definitions modern day economists place on it, it doesn't change its true meaning.

 

As the money supply increases w/o any sort of backing apart from confidence in our fiat money system, its purchasing power decreases. Furthermore, the gov't borrows money to pay interest to the FED w/o paying down the principle. This is leading to an exponential increase in our nation's debt. We, as a nation, currently owe many multiples of the actual currency actually in circulation. Furthermore, the US gov't pays the Federal Reserve to do what the constitution empowered congress to do. It is all just a big scam enacted at our expense.

 

So, of course, silver and gold is a sure bet when hyperinflation is happening. Post WWII Germany people were trading wedding bands of gold for a loaf of bread. Either that or a wheelbarrel full of worthless Marks.

[davidking623]

Post WWII Germany people were trading wedding bands of gold for a loaf of bread. Either that or a wheelbarrel full of worthless Marks.

 

 

In a outside thinking mans way of thinking I have got this covered also! I have wheat in buckets to make into flour.all Water should be a supply to beconcerned with as well as some Oil and some salt sugar and dry yeast.I think I have this one covered also why take chances with your investments and keep lots of gun around with bullits to supply,Still thinking outside the box!

 

Davidking623

[davidking623]

Silver 13.40

 

Davidking623

[EZ_E]

David,

 

Just keep your stash on the down-low. If and when things do get tough then mobs will have no qualms about robbing your stores.

 

Just as it is prudent to have six months of income saved it is also very prudent to have a store of food and supplies.

 

If and when our economy takes a serious downturn, the general populace will make a run on supplies which will not only cause more inflation but will seriously strain the availability of goods.

[MunkyMan95]

Now you guys got me all scared! I feel like I'm preparing for some kind of nuclear war here. Yikes!

[EZ_E]

Now you guys got me all scared! I feel like I'm preparing for some kind of nuclear war here. Yikes!

 

History often times repeats itself. Our gov't operates on a debt system that can not continue indefinitely. If someone ran their household or a business like the gov't runs our country then they would be bankrupt and out of business in no time.

[davidking623]

Now you guys got me all scared! I feel like I'm preparing for some kind of nuclear war here. Yikes!

 

The reality is we are right next to Iran and they have enriched uranium,they say for for nuclear reactors.Iran doesnt like Israel! It really matters what Bush thinks because we know he isnt pulling out of Iraq in his term!

 

Davidking623

[davidking623]

Well Silver has been quite a ride and with silver being jerked down by the commercial shorts without anyone buying till it tanked to 11.80 I believe! Silver is the real deal and the Silver ETF is up and running and has already consumed over 20 million ounces of real Silver! Silver is at 14.40 right now and is looking to charge its previous high somewhere in the 14.70 mark 15.00 is the biggest resistance and when it gets there it will be up up again!Are you in or on the sidelines watching?Im in!

 

Davidking623