Silver is not a good investment anymore

[Ronnie 666]

The problem with investing in PM is that you cant pick the bottom. I remember buying gold in the 1998 for $300+/oz and then in 1999 it fell to under $300. Was I pissed off. I cant tell you how many times I bought and then sulked for weeks when the prices fell. Sometimes for months or even years. In all the time I bought gold and silver I almost never picked the bottom. Now 12 years later who cares. You will never pick the low points and never sell at the top. That should not be your aim. If it is go to the casino - it has better odds. Stay in the market unless you see governments stop printing money, support business and productivity and balance their budgets. Seen that recently ?? Not on this planet . So who cares if gold is $1500, $1600 or $1700 or silver is $31 or $34. In 3, 4, 5 or 6 years it will be higher. It is better to be in the market a year or two earlier than 5 minutes after the crash that is to come.

Why do people worry about this ? there are so many more important things to worry about. Worry about you family, your relationships and your health. Once they are gone you have nothing. Gold and silver will be just fine. As long as you dont borrow money to buy - all will be well.

 

[Ghost Story]

my philosophy is only buy what you can afford to sit on for the rest of your life, don't cash it in out of fear or because you got a bee in bonnet about buying a motorbike or a pool or what ever, for me this is not a get rich quick scheme its about putting a few dollars away for a rainy day, now i know i am getting old because i am starting to sound like my old Man. OH DEAR.

 

[Silverbullet08]

If I had kept my money in the bank I would have been earning 6% every month, I get out of the silver scene for 3months in hope it would rise when i return, now I have returned and its in the high 20s -.-

You bought into the hype when silver was $45/oz and you got burnt.
Anything is a bad investment if you buy it at the very top.

Doesn't make it a bad investment in the long term.

Unless ur a day or week trader.... this is a time based game... we all know this.
You mate hate urself at the current time thinking u made a wrong choice, but in years to come, ull be forever thankful!!!

On a side note, are u open to offers for ur stash?

 

[RetardedMonkey]

There's cycles in the GSR - a lot of people got caught up in "silver going to the moon!" hype and ignored the relative values between gold and silver.

End game right there.

 

[M.Thurlow]

I have only been collecting silver for past few months and i know everyone has different opinions but id rather collect coins and bullion i find it fun. But like i said everyone has a different opinion.

 

[Photonaware]

If I had kept my money in the bank I would have been earning 6% every month, I get out of the silver scene for 3months in hope it would rise when i return, now I have returned and its in the high 20s -.-

Crickey !
6% PER MONTH
Sounds like a Mafia Bank to me.

Did you mean to say 6% per annum ?
So $10,000 invested in the bank would see a gain of $600 in a year before any tax deductions ?

If on the other hand you are genuinely getting 6% per month regular income ( not added to the principal ) that is earning you $7,200 per year.
Equivalent to 72% return.

Someone has their wires crossed I think.
Sorry to disappoint if you were misadvised.
However, if you can earn 6% per month from a bank, would you mind sharing it's name with us and we will all be piling billions into it next week.

 

[Bazil]

I have only been collecting silver for past few months and i know everyone has different opinions but id rather collect coins and bullion i find it fun. But like i said everyone has a different opinion.

Hit the nail!

 

[ironwood]

I have only been collecting silver for past few months and i know everyone has different opinions but id rather collect coins and bullion i find it fun. But like i said everyone has a different opinion.

Hit the nail!

I second that! I like the fact that I have physical silver in my hands. It's something about actually having silver/gold in my possesion that intrigues me. I bought/buy silver bullion as a long term investment(at least 5 years), and collect the numis for fun. Plus it's something to pass

down to the next generation if it's not sold before I die. I also have a reason to be a member of this forum to learn from and meet other people.

 

[Sargeant Argent]

I'd say silver is a hell of a lot better investment now at 31 than it was at 46.

 

[Rad Dood]

Excellent topic stackers..Always interesting ,informative and often humerous.As a new nooby,I can learn much from these forums. All I wish to add is that silver is definitely a long term (waiting game). Mr 6% would do well to research the metal itself and from that interpret where it could go as a result Rgds Rad

 

[thatguy]

Silver is neither a good investment nor a bad one, it all hangs on timing (yes even with fundamentals taken into consideration)... this can be said for almost any investment except for time with your children, there in no bad time to invest in your children

 

[wrcmad]

... this can be said for almost any investment except for time with your children, there in no bad time to invest in your children

Huh? No matter how good your investment timing is, children are (and always will be) a very expensive, loss-making venture!

 

[thatguy]

... this can be said for almost any investment except for time with your children, there in no bad time to invest in your children

Huh? No matter how good your timing is, children are very expensive, loss-making venture!

Just ask tiger wood's parents

 

[mike titanic]

Welcome to the forum Rad.My take is similar.I stacked up a few ounces(stopped counting after 500)and then really began to collect coins that I found interesting and pleasant.If I pay alot over spot its ok because I really wanted it.For example the HR dragon,or the 2001 britannia.The only thing that I wont do is buy a common silver ounce for a high percentage over spot but thats just me.

 

[BBQ]

If I had kept my money in the bank...

* I'd be giving the oppressor more power to create money under a fraudulent fractional reserve system
* ...money outside my control, supporting all sorts of despicable money-making ventures I would not be comfortable with
* I'd definitely be making the world a far worse place by giving more power to the banks by allowing them to play with my money rather than me
~~~~~~~~

That said, saving in silver is not for everyone.

Patience is needed sometimes, other times not. I first bought in 2010 and made modest profits pretty quickly, not that this was my goal; my goal was to kill banker profits and simply stay ahead of inflation on most things, which I have succeeded in doing (so far).

Plus the way the silver (paper) prices are manipulated makes it a less convincing and certainly less 'sure' (and less liquid) investment for many. I know people that are risk-averse and they wouldn't dream of doing anything with their money except keeping it in the bank. Funny because I consider this one of the riskiest and least rewarding propositions. Especially with the limitations banks impose on getting your own money out.

If you are certain you have made the right decision regarding silver, the lack of profits shouldn't phase you; I wouldn't worry about it. Some trade physical on the volatility as the year goes on, to some success. Others do not.

6% returns per year is nothing to write home about anyway; I would never feed a banker for those pitiful returns.

It's completely understandable if you had expectations that weren't met though. With all the talk of how it SHOULD be priced higher or how it's going to blow its top, it's discouraging to not have those expectations met at this point in time (if these were your expectations).

 

[renovator]

If I had kept my money in the bank...

* I'd be giving the oppressor more power to create money under a fraudulent fractional reserve system
* ...money outside my control, supporting all sorts of despicable money-making ventures I would not be comfortable with
* I'd definitely be making the world a far worse place by giving more power to the banks by allowing them to play with my money rather than me
~~~~~~~~

That said, saving in silver is not for everyone.

Patience is needed sometimes, other times not. I first bought in 2010 and made modest profits pretty quickly, not that this was my goal; my goal was to kill banker profits and simply stay ahead of inflation on most things, which I have succeeded in doing (so far).

Plus the way the silver (paper) prices are manipulated makes it a less convincing and certainly less 'sure' (and less liquid) investment for many. I know people that are risk-averse and they wouldn't dream of doing anything with their money except keeping it in the bank. Funny because I consider this one of the riskiest and least rewarding propositions. Especially with the limitations banks impose on getting your own money out.

If you are certain you have made the right decision regarding silver, the lack of profits shouldn't phase you; I wouldn't worry about it. Some trade physical on the volatility as the year goes on, to some success. Others do not.

6% returns per year is nothing to write home about anyway; I would never feed a banker for those pitiful returns.

It's completely understandable if you had expectations that weren't met though. With all the talk of how it SHOULD be priced higher or how it's going to blow its top, it's discouraging to not have those expectations met at this point in time (if these were your expectations).

Anyone thats smart &/or has enough money will have some in the bank collecting at least some guaranteed returns . You dont gamble with everything you have.... Thats called madness . 6% compounding paid monthly is better than wishing .

 

[upandaway]

To the OP,

No bank is paying 6% monthly end of. You may get that in a year gross! Silver is still a good investment but the easy trend up from the early part of the century is done of course.

Over the years I've been buying though the most important thing I think I've learnt is that patience is more often than not a trade in its self. $31 is a good level don't get me wrong, but if you can buy at mid twenties sometime this year it will be a bargain and a half!

Throw the GSR play in for the next 2-3 years as other posters mentioned and I'll be very happy thanks.

Modern life depends on the stuff almost like water! We may get another flash crash that scares the living daylights out of most of us but it won't stay there long and is a buying opportunity.

If you learn from the fantastic help here you should do very well. I've had and continue to get some great help on purchases from guys like Yennus and Maggie which easily offset fluctuations and volatility.

Frankly, if you can't beat what a bank is offering being in silver you're doing something seriously wrong.

 

[errol43]

^^6% less inflation, less tax = 2 to 3%. Does anyone here on SS really believe that the official figure on inflation of less then 2%? They certainly don't shop where I do nor pay the same type of bills..Rates electricity, gas car rego, insurance for car and houses are always on the move up. Most groceries have gone up except for bananas and other fruit.

I'm afraid you'll need more than 2% on your bank investments to pay these extras.

Regards Errol 43

 

[BBQ]

You dont gamble with everything you have.... Thats called madness . 6% compounding paid monthly is better than wishing .

I'm not suggesting gambling with everything you have; but you can keep cash outside the bank too...without enriching them. Probably a minor point in a world just interested in profits at any cost, but a point nonetheless.

 

[BBQ]

Frankly, if you can't beat what a bank is offering being in silver you're doing something seriously wrong.

This has been my experience too. Though I guess it all depends on when you bought.

Especially as a new stacker, not all have come to see that what banks offer is essentially piss compared to what they can do with a little info and wise purchase here and there. Even outside the silver world completely, it's extremely easy to make 6%.

If silver is volatile and that's a complaint, monetize this volatility.
Just keep some cash at the ready.