OT: Investing in silver

[Gringo]

Depends on who you are, your financial situation, and such. Father of 3 young ones, barely making ends meet - probably a bad call. Older, DINKS, extra capital laying around - who knows.

It depends. If the 75% of the sale of his house is only a portion of his overall portfolio, then possibly. However if it is 75% of his total portfolio then I disagree.

Any quality investment manager will not recommend putting 75% of total capital in one growth stock, regardless of the life / financial situation. At the very least the recommendation would be to spread the investment among multiple growth companies.

Of course it can work out, but the risk is really high.

I guess what I'm saying is scrappy has a huge set of brass balls. I hope it works out.

 

[sledog]

Get the bullets. They ostensibly work against vampires in a pinch.

 

[superjohn]

If you really want a safe investment in precious metals, start stealing copper pipes and wires from construction sites.

Or slide under cars with an electric saw and steal catalytic converters. Good money and it gives you a rush of adrenaline.

 

[raf46]

So instead of having paper cash every paycheck to blow on crap i figure just invest in silver and let it sit and accumalate over time. Ive thought of junk silver (90% pre 65 coins), bars, rounds (non monetized coin medallions), and monetized collectable coins. I decided on

View attachment 9602
(5 oz America the Beautiful coins)

as they can increase in two possible ways. 1. collectability - some earlier versions have doubled and tripled in value and 2. silver price rising.
Any thoughts suggestions from any seasoned precious metal stackers?

CONNECTICUT MUNICIPAL funds are exempt from state and federal taxes. Is tax free money as long as you reside in and buy CT Munies.

 

[SubbaBub]

Glad to see the BY knows as much about personal finance as it does everything else which is not much. If you are buying precious metals as a cash equivalent hedge against inflation as part of a diversified portfolio or as safe harbor between investments then that's fine. If your intention is to time the price of a commodity based on a hunch about short term price movements, then you are bound to be wrong. You may as well just give it to me. I promise I'll do something cool with it.

But, if you insist on getting financial advice from strangers on the internet, you could do a lot worse than reading these:

http://www.reddit.com/r/personalfinance/wiki/commontopics

http://www.reddit.com/r/personalfinance/wiki/investing

 

[The Smart One]

....But, if you insist on getting financial advice from strangers on the internet, you could do a lot worse than reading these:...

Isn't that the age we live in? That of the internet. Its like the library of the past. Tons of info to be had. Im investing silver and am open minded to any type of info I can get. I have tried getting financial advice from those in person and I look back at it and regret the wasted time.

 

[Danzz]

There is no true safety net but the key to investing is diversification. You really don't want to bet it all on one roll of the dice. This isn't my invention, it is the advice any reputable investment advisor will give you.

 

[SubbaBub]

Isn't that the age we live in? That of the internet. Its like the library of the past. Tons of info to be had. Im investing silver and am open minded to any type of info I can get. I have tried getting financial advice from those in person and I look back at it and regret the wasted time.

The question isn't to buy silver or not buy silver, but why are you buying it and is there a better use of your capital.

The best financial advice isn't sexy. It's quite boring. The links I provided contain what are widely considered the best long term strategy for financial independence. Especially, if you are not already wealthy and can leverage various other strategies.

 

[Sky ball]

I have about $5,000 worth of newer silver dollars. Worth about $24 each last I checked. I did not acquire as an investment but as a currency need when the Zombie Apocalypse happens and banks are closed and you can't get any cash. Silver will be Gold! Huh? LOL