Is silver better then a term deposit in a bank?

Nabullion Dynamite said:
centenario said:
Nabullion Dynamite said:
I don't know if I'm missing something but where do you get interest rates like that? My banks saving account has almost zero return interest I don't know much about this stuff where do I put my money that has 5% compound interest rate as mentioned?
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LOL i don't know any bank that will give you 5% interest on a savings account. Maybe in Dubai?
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Thats what I'm asking, what account nets you 5% as mentioned in this thread
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Guido and Vinny's supersaver...good luck collecting. ;)
 
Although not technically a savings account, I have had very good returns with the P2P lending platforms.

I have been receiving an average of 12%, which beats the hell out of the paltry interest currently being offered by the banks.

In the USA, the best known P2P platforms are "Prosper" and "Lending Club", but there are similar investing websites in most other countries.


For you guys in Australia: https://www.societyone.com.au/
 
Eureka Moments said:
Golden ChipMunk said:
Put yours money in the bank and you will get compound interests, but put silver in SDB you will get nothing.
Does that make sense? As long the govt. don't takes $$ after four years.

As yours silver quantity from beginning will be still the same as the day you took out after 4 years.
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Hardly anything you post makes sense.
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QFT
 
Icon said:
I have about 70K in my bank, and I make around $350 a year interest.
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But we're talking compound interest which works out much better the longer your in, providing you keep adding to the principal.

On a side note. With diligence, a bit of risk taking & patience you can do much better than that return on the SM. Quite easily beat this paltry return of your hard-earned $'s & in short time. Certainly not have to wait a year.
 
Nabullion Dynamite said:
centenario said:
Nabullion Dynamite said:
I don't know if I'm missing something but where do you get interest rates like that? My banks saving account has almost zero return interest I don't know much about this stuff where do I put my money that has 5% compound interest rate as mentioned?
Click to expand...

LOL i don't know any bank that will give you 5% interest on a savings account. Maybe in Dubai?
Click to expand...


Thats what I'm asking, what account nets you 5% as mentioned in this thread
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Guy's this is for australia. Sorry, I dont think america has any interest rises for now, when you put money into the bank as a term deposit say for 1 year they will use your money to give out loans to others but your money will always show that its in your account, your just being the lender and thus making the bank pay you instead of paying the bank, here in australia we have interest rates at 5% meaning if you have 1million dollars, you'll get just under 50000 bucks a year.
 
DanielM said:
lshallperish said:
The way I see it is if you have 1000 ounces and you bought it at 20 bucks and it increased by 1 dollar, you've just made 1000 bucks something the bank would take a year to give to you.

Last time we saw silver drop below 20 aud was around 2010.
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And if it goes down $1? And the effect of premiums when selling or buying?
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Wont really matter, you have 4 year's til you start losing money. If it went down by 1 dollar you got 4 year's til it goes back up, which it will. 20 is close to being on the bottom, sure it could go lower but thats a risk you need to take.
No different then stocks
 
lshallperish said:
Guy's this is for australia. Sorry, I dont think america has any interest rises for now, when you put money into the bank as a term deposit say for 1 year they will use your money to give out loans to others but your money will always show that its in your account, your just being the lender and thus making the bank pay you instead of paying the bank, here in australia we have interest rates at 5% meaning if you have 1million dollars, you'll get just under 50000 bucks a year.
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Oh, I gotcha. I forget the majority of this forum is australian. I just looked up a term plan for my bank, the interest rate was .05% Sucks :(
 
I'm no economist or accountant... but with half a brain...

My savings account interest isn't far off 1% but GDP is 2%... so losing 1% each year...

So every year i might as well throw a pound coin in a river.

The way I see my precious metal investments are... they could go up and down but long term hopefully will be a great investment for my daughter.
 
ScottyRS said:
My savings account interest isn't far off 1% but GDP is 2%...
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Did you perhaps mean CPI? Or does GDP not mean gross domestic product in the UK?

Either way, I have had some fair returns in the past, using 3 month term deposits with deposit amounts in the vicinity of $100k. But those returns were of course taxed and reduced by inflation.
There's probably smarter ways of investing than bank term deposits but that's what I did.

But why not add silver into the mix? The thing is, there's no guarantee either way. Silver will not appreciate your wealth if it sits in the doldrums, and there's the premium gap to jump over when selling, but a 3% return from a bank is not going to be of any benefit if inflation jumps to 3%.

The good thing about silver is that unless you choose to sell, any decline in the physical mass of the metal in your posession will remain negligible for periods shorter than, say a trillion years.
 
lshallperish said:
Say you have 1000 ounces of silver purchased at 20 bucks per ounce and sold 1000 ounces in 4 years time when/if silver reached 30 bucks per ounce, that would mean when you sold your silver you made 10000 dollars more in 4 year's. Within that 4 year's you would of made 3600 bucks in a bank.
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Then than would of would have.

Buy more silver.

It's the least of your worries.
 
Who the hell wants to lug around 1000 ounces of silver...........................who the hell can get rid of 1000 ounces of physical silver in one hit while the price rides high.

I see buy back at under spot from the retailer, which means you have to do a hell of a lot of selling to the public to get rid of a 1000 oz of silver for a better price than what the retailer will give you........................the selling cost and time out weigh owning bulk silver by a mile.

Gold is so much easier.
 
betterinvestmentthanshare said:
..who the hell can get rid of 1000 ounces of physical silver in one hit while the price rides high.
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Easy as piss

Just before the price of silver plunged below $40 I saw a dealer walk into W Davis wheeling a large travel luggage suitcase.
He pulled out over 100 silver kilo bars, threw the bundles of cash into the suitcase and left.
 
trew said:
betterinvestmentthanshare said:
..who the hell can get rid of 1000 ounces of physical silver in one hit while the price rides high.
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Easy as piss

Just before the price of silver plunged below $40 I saw a dealer walk into W Davis wheeling a large travel luggage suitcase.
He pulled out over 100 silver kilo bars, threw the bundles of cash into the suitcase and left.
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Are you suggesting W Davis isn't very good at this caper?

That's not very nice. :)
 
Gorth said:
ScottyRS said:
My savings account interest isn't far off 1% but GDP is 2%...
Click to expand...
Did you perhaps mean CPI? Or does GDP not mean gross domestic product in the UK?

Either way, I have had some fair returns in the past, using 3 month term deposits with deposit amounts in the vicinity of $100k. But those returns were of course taxed and reduced by inflation.
There's probably smarter ways of investing than bank term deposits but that's what I did.

But why not add silver into the mix? The thing is, there's no guarantee either way. Silver will not appreciate your wealth if it sits in the doldrums, and there's the premium gap to jump over when selling, but a 3% return from a bank is not going to be of any benefit if inflation jumps to 3%.

The good thing about silver is that unless you choose to sell, any decline in the physical mass of the metal in your posession will remain negligible for periods shorter than, say a trillion years.
Click to expand...


He did say he only had "half a brain"
 
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