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  #1  
Old 04-18-2011, 04:34 PM
ferndchamp ferndchamp is offline
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Default Advice Please!

Hello there, this is my first time posting on these forums. I would like some advice about these precious metals. I bought some precious metals about a month ago and the metals have been doing great. I am really thinking about buying more now. The thing is that the metals cost a little more than they did when I bought them. I would like to know if you think that it is still worth buying these metals at these prices. I wanted to spend around 15k in metals. I was thinking about 70% silver and 30% gold. The thing is that I am probably going to cash out in about 1-2 years, depending on the market status. Do you think gold is going to go up, how about silver? I know your responses are opinions but they are greatly appreciated. My goal that I am striving for is to buy a new home. Thanks in advance for your opinions and thoughts.
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Old 04-18-2011, 04:36 PM
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999FINE 999FINE is offline
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No the PM bull is over
Now its all about the USD bull


welcome...
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  #3  
Old 04-18-2011, 04:37 PM
ferndchamp ferndchamp is offline
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One other thing, if you suggest to buy pm, what do you suggest I buy 100oz bars of silver or coins? How do you get the best deal?
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Old 04-18-2011, 04:42 PM
ingots ingots is offline
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Quote:
Originally Posted by ferndchamp View Post
One other thing, if you suggest to buy pm, what do you suggest I buy 100oz bars of silver or coins? How do you get the best deal?
not gonna tell you what you should do but i will tell you what i did this weekend.......


I bought more gold and silver at these levels.....guess what im up already.....

i would also suggest buying some smaller denoms of pm's as well just in case the dollar does explode selling big bars for a loaf of bread or whatever may be hard to get back some change........ just saying....

always DYODD
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Old 04-18-2011, 04:50 PM
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Ryanferr Ryanferr is online now
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Personally I am selling my silver gradually. I am a college student and first bought in when I was a freshman. I am now entering my senior year with an unpaid internship and need money for next year. I have been lucky enough that my profits from silver (once totally liquidated) will exceed what I have been making working everyday for the past 3 summers. I do, however, expect the price to continue going up. Nothing has happened from the Fed or Congress to indicate any serious changes. If I thought prices were going to go down I would be selling it all now, instead of over time. Ultimetly you have to do your own due diligence. Everyone has different takes on the economy, politics, and more specifically PM's. Moreover, you have different wants, needs, and investment desires than we do. But just a word of advice, this board is pretty biased. Everyone in here loves PM's, loves buying PM's, and loves talking about PM's. You will be hard pressed to find someone on these boards bearish on PM's. That is not to say the posters here are not intelligent - in fact I would argue the contrary. However, if you really want a well rounded view on the markets, you should look multiple places and read opinions of the bears. If the bull argument makes more sense than the bears, or vice versa, then act accordingly!

In my experience when ever I think silver is at the top I am wrong....I got all scared when I was still buying at $19...thought $20 was the ceiling....got all scared buying at $28...thought $30 was the ceiling....got scared buying stocks when silver was at $35...thought $40 was the ceiling.....who knows man, who knows....
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"We said simply that we were too old to trade silver, preferring to leave this enormously volatile metal to those younger and/or more courageous than we. We abhor volatility. It is our bane, and silver defines volatility. Thus, we do not trade it and have not and will not." -Dennis Gartman
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Old 04-18-2011, 04:57 PM
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999FINE 999FINE is offline
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Listen to this man, he speaketh the trutheth

Quote:
Originally Posted by Ryanferr View Post
Personally I am selling my silver gradually. I am a college student and first bought in when I was a freshman. I am now entering my senior year with an unpaid internship and need money for next year. I have been lucky enough that my profits from silver (once totally liquidated) will exceed what I have been making working everyday for the past 3 summers. I do, however, expect the price to continue going up. Nothing has happened from the Fed or Congress to indicate any serious changes. If I thought prices were going to go down I would be selling it all now, instead of over time. Ultimetly you have to do your own due diligence. Everyone has different takes on the economy, politics, and more specifically PM's. Moreover, you have different wants, needs, and investment desires than we do. But just a word of advice, this board is pretty biased. Everyone in here loves PM's, loves buying PM's, and loves talking about PM's. You will be hard pressed to find someone on these boards bearish on PM's. That is not to say the posters here are not intelligent - in fact I would argue the contrary. However, if you really want a well rounded view on the markets, you should look multiple places and read opinions of the bears. If the bull argument makes more sense than the bears, or vice versa, then act accordingly!

In my experience when ever I think silver is at the top I am wrong....I got all scared when I was still buying at $19...thought $20 was the ceiling....got all scared buying at $28...thought $30 was the ceiling....got scared buying stocks when silver was at $35...thought $40 was the ceiling.....who knows man, who knows....
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Old 04-18-2011, 04:56 PM
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Ryanferr Ryanferr is online now
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Quote:
Originally Posted by ferndchamp View Post
One other thing, if you suggest to buy pm, what do you suggest I buy 100oz bars of silver or coins? How do you get the best deal?
if you are looking to invest 15k, then yes, 100oz bars may be an economical avenue. I myself initially invested less than 3k into PM's, and thus did not need 100oz bars. Just keep in mind the 10oz bars, rolls of American Silver Eagles and such are much more liquid than a 100oz bar. A trade off exists between the two....lower premiums vs liquidity. If you can develop a formula to figure out the perfect bundle, please let us know. But if I had to make a suggestion, I personally favor the 10oz bar.
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Buy high, sell higher

"We said simply that we were too old to trade silver, preferring to leave this enormously volatile metal to those younger and/or more courageous than we. We abhor volatility. It is our bane, and silver defines volatility. Thus, we do not trade it and have not and will not." -Dennis Gartman
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Old 04-18-2011, 04:58 PM
theplantguy theplantguy is offline
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Quote:
keep in mind the 10oz bars, rolls of American Silver Eagles and such are much more liquid than a 100oz bar.
I can sell 100 oz bars just as quickly as I can sell 1 oz bars
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Old 04-18-2011, 05:02 PM
ncdirtdigger ncdirtdigger is offline
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buy that which has the lowest premium. When you see interest rates go into the positive (higher than real inflation) and unemployment drop, and government debt decrease, and the Fed stops monetizing the debt, then it's time to sell.
I would buy some 1 oz rounds as part of my stack, so if I had a need to get some emergency cash, I wouldn't be forced to sell a large bar to get funds.
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Old 04-18-2011, 08:42 PM
ferndchamp ferndchamp is offline
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Thanks for your advice. It is greatly appreciated.
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