I Bought My First Bullion Ever!! A 1 Kilo Silver Bar

[jolteon]

I have saved my money for over three years. Three weeks ago I finally had enough money to buy a 1 kg silver bar!!!! It is already paying off when I bought it for under 16$ an ounce. I plan to check the prices on February 1st! Here are a couple pictures of it!!!!


My plan is to sell at around $25-$30 range!
Is that a good number? Anyway, my plan is to double my money and buy a AT Pro! And the rest goes back to bullion investing! What do you guys think? Reply Soon
Jolteon

 

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[SilverHoarder07]

I have saved my money for over three years. Three weeks ago I finally had enough money to buy a 1 kg silver bar!!!! It is already paying off when I bought it for under 16$ an ounce. I plan to check the prices on February 1st! Here are a couple pictures of it!!!!
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My plan is to sell at around $25-$30 range!
Is that a good number? Anyway, my plan is to double my money and buy a AT Pro! And the rest goes back to bullion investing! What do you guys think? Reply Soon
Jolteon

Sounds like you are off to a good start. I have that very same type of bar...not as shiny as others but the dull powdered look has its place.

I am looking to sell off in the 32_35/range which may be quite a bit away but hey, its fun all the same.

I say do what makes you happy...if you can get that detector with such a discount I say go for it.

Remember, you haven't made any money until you sell.

 

[jolteon]

Good point remember if it hits 30 it can go up OR down back to 15 it always goes up and down

 

[ecoast]

nice.

it's gonna be tough to buy a can of spam when the shtf with that!

 

[Marchas45]

You'll make Fiat or Currency when you sell your Silver as Silver and gold are Money. Lol Keep Stacking

 

[jolteon]

Yeah I forgot to mention my other part of my plan silver go up, I sell at 25-35 dollar range I know that does not sound like a lot of money however that would be double! If it goes down I buy a half a kilo bar because I literally can't afford another one

 

[coinbug]

PMs aren't the best choice for a SHTF scenario. Medical supplies, food, and ammunition are better bets.

PMs are protection against the debasement of fiat currency. Today, for example, the ECB announced 1.1 trillion in "Quantitative Easing," which is a fancy word for theft.

That's a very nice silver bar, Joltean, congratulations!

 

[jolteon]

Thank you coinbug like I said before this is the first billion I ever bought so I do not know if I will make a quick buck or if I will stack I am very happy with it!!!

 

[xr7ator]

Food, water and fuel....I hope it never comes to that! HH ALL

 

[joncutt87]

Don't forget booze and tobacco

 

[SilverHoarder07]

Don't forget booze and tobacco

Source of water and some basic equipment and I can take care of beer all day long! I don't have much use for tobacco so your on your own there.

 

[fistfulladirt]

Toilet paper will trump all those.

 

[jolteon]

Toilet paper will trump all those.

I DEFINITELY AGREE

 

[bradley1719]

In a world without "fear", silver has no business being in the $25-$30 range right now, or in the short term future. If it gets to that point then it will be only because of fear. It was fear that took us up to almost $50 and it was a lack of fear that has dropped us down to below $16. So if you want to try and gauge where silver will be in the next few years, think only about fear, not about some of the ridiculous assertions made by silver and gold bugs or the people who misunderstand fiat currencies and quantitative easing.

The ECB quantitative easing will do in Europe exactly what it did in the US: it will stave off the deflationary spiral that we were facing. Although it will take some time, it will eventually help with the problem and reduce fear over the long term. And without fear, silver should be sitting somewhere under $16. Long term, it will be worth more than that. But in the short term it just isn't worth $25-$30 without the fear aspect.

There are a lot of people who really don't understand fiat currencies at all and why they are needed. Suffice it to say that there is not a single country left in the world using a gold or silver standard. And that is because they ALWAYS fail for the same basic reasons. I won't go into those reasons here because I don't want to hijack this thread. Fiat currencies are a necessity and anyone who thinks otherwise really doesn't understand them. I do not proclaim to be an expert either. But I can understand basic logic.

 

[jim4silver]

In a world without "fear", silver has no business being in the $25-$30 range right now, or in the short term future. If it gets to that point then it will be only because of fear. It was fear that took us up to almost $50 and it was a lack of fear that has dropped us down to below $16. So if you want to try and gauge where silver will be in the next few years, think only about fear, not about some of the ridiculous assertions made by silver and gold bugs or the people who misunderstand fiat currencies and quantitative easing.

The ECB quantitative easing will do in Europe exactly what it did in the US: it will stave off the deflationary spiral that we were facing. Although it will take some time, it will eventually help with the problem and reduce fear over the long term. And without fear, silver should be sitting somewhere under $16. Long term, it will be worth more than that. But in the short term it just isn't worth $25-$30 without the fear aspect.

There are a lot of people who really don't understand fiat currencies at all and why they are needed. Suffice it to say that there is not a single country left in the world using a gold or silver standard. And that is because they ALWAYS fail for the same basic reasons. I won't go into those reasons here because I don't want to hijack this thread. Fiat currencies are a necessity and anyone who thinks otherwise really doesn't understand them. I do not proclaim to be an expert either. But I can understand basic logic.

Bradley,

I thought you believed the run up in 2011 was upward "manipulation", do you now feel it was natural supply and demand?

In any event, there are lots of reasons to be afraid nowadays when it comes to nations' debt levels, currencies, etc. Just look at the poor Euro fools losing their a$$e$ re: buying power- gold has made great gains lately in Euros. Actually the US QE was supposed to stimulate the economy and prevent deflation, but I believe the real reason it was designed was to bail out banks- in part to allow banks to dump lowered valued assets to the fed who bought them from said banks at higher levels (this was during one of the QE's, I think the last one), and also to help keep the interest rates near zero. An added benefit was to force the sheeple to yank money out of savings (at 1% interest or less) and play it in the stock market casino where there would presumably be higher yields.

When the stock market is high the sheeple think all is well, so they ignorantly say the economy is doing well simply because the stock market is up, even though the under-employed and unemployed numbers (who no longer get benefits and thus aren't counted) grow and wages stagnate. Even stock bulls have to admit the last few years' run up was in large part due to the various QE programs, even if indirectly.

As far as saying QE was done to prevent deflation is not correct (that might have been the "stated" reason, just like saying we went into Iraq to get nuclear weapons or whatever it was), and one can see today we are having what some call "deflation" all around, so if you assertion is correct, then QE failed because we are seeing deflation pretty much everywhere (except food prices).

I agree we can never have a truly "backed" currency because those in power lack the will and honesty to not spend beyond our means (nor the sheeple disciplined enough to work hard and not want free stuff all the time), because if they aren't promising the US sheeple free stuff all the time, they won't get elected. Any politician of any party that preaches austerity or so here will not get elected. I wonder what our parents' parents' generation would think (those who lived in the 20s, 30s, 40s, etc) if they came back today and saw all the whiny, pi$$y folks who always find a reason to claim they are entitled to something and want the GOVERNMENT to provide it for them or to take it from the "rich".

Funny you say all backed currencies fail, so do all fiat currencies. Go back to Rome and see what happened to them when they reduced the silver content of the denarius from 99% to less than 1%, which is akin to what we do now with printing paper money. Even the british pound was once backed so it has not been a fiat currency the whole time. The US has had past failed fiat currencies like the Continental and Greenback which came before the dollar.

The truth is that everything in life is cyclical. This has played out for thousands of years: Start with a currency with built in value like gold, silver, seashells, etc, then over time dilute it so the government can promise things and pay for things it otherwise cannot afford, in time inflation grows and the value of said currency diminishes, then eventually confidence in said currency crashes and some new currency comes out that is again possessed with built in value- rinse and repeat. We will see that again after some big financial crash if the sheeple wake up. But even then over time those in power will seek to gain and will dilute some more, etc. There will be times when having real assets (silver, gold, seashells) is smart and saves your a$$ and times when it won't.

I love this example: what would you rather own now, a 1920's era US $20 gold coin or a US $20 note from that era (let's assume no numi value in the bill)?

The key now will be having assets that retain value if things start to collapse again. 2008 was not a fluke and from everything I read, the financial institutions as a whole are on shaky ground now even more than then. With the removal of Dodd Frank provisions recently re: derivatives it is not hard to see the writing on the wall.

The only reason the dollar has lasted this long is because due to Bretton Woods agreement (the spoils of winning WW2) where we got the world reserve currency status. There is much going on in BRICS nations (who are teaming up with some of our allies) to start exchanges and such that do not use the dollar anymore for trade. Thus the dollar will fail someday too, but maybe it will be in 5 years or 25 years?

Does anyone really think we or any other country plan to pay off their debts? We are at $18+ trillion and our food stamps use grows daily, etc. I guess if everyone still has confidence in things we can carry on for a while.


Just my opinion.

Jim

 

[bradley1719]

Bradley,

I thought you believed the run up in 2011 was upward "manipulation", do you now feel it was natural supply and demand?

Jim

Jim, don't waste your time with me. I do not intend to get into a conversation with you for the very reason that you consistently try to say that I said things that I didn't. Then when I come back and correct you (even using simple logic), you claim that I am waffling or lying. It just isn't so.

The comment above is just another case in point. I said nothing about supply and demand or upward manipulation in my comment above. What I said was that the price run up was about fear. Nothing more, nothing less. Fear has nothing to do with manipulation or supply/demand in this case. I can have plenty of supply but the price can go up anyway due to fear. And there doesn't need to be manipulation involved for fear to take control. If you can't understand the basic logic of those statements then I can't help you. As for the rest of your post, regurgitating the common PM bull fallacies doesn't impress me at all. Saying the same thing over and over again (despite the fact that it is illogical) doesn't make it right.

Again, I have no interest in hijacking this thread so this is not the place for such a discussion. Good day.

 

[jolteon]

Wut?

 

[jim4silver]

Jim, don't waste your time with me. I do not intend to get into a conversation with you for the very reason that you consistently try to say that I said things that I didn't. Then when I come back and correct you (even using simple logic), you claim that I am waffling or lying. It just isn't so.

The comment above is just another case in point. I said nothing about supply and demand or upward manipulation in my comment above. What I said was that the price run up was about fear. Nothing more, nothing less. Fear has nothing to do with manipulation or supply/demand in this case. I can have plenty of supply but the price can go up anyway due to fear. And there doesn't need to be manipulation involved for fear to take control. If you can't understand the basic logic of those statements then I can't help you. As for the rest of your post, regurgitating the common PM bull fallacies doesn't impress me at all. Saying the same thing over and over again (despite the fact that it is illogical) doesn't make it right.

Again, I have no interest in hijacking this thread so this is not the place for such a discussion. Good day.

All I will say is if the price of silver went up in 2011 to near $50 (which it did), that price move was from either supply/demand, or manipulation, or maybe a combination of both. For the record I believe the run up in price then WAS manipulation, which I define as a party or parties with unlimited or very large sums moving a market in the direction they want due to said large sums of ownership irrespective of the "demand" or "supply" factor being considered. Some signs of such manipulation to drive price down are big trades where tons of metals are dumped at the same time (and not staggered out to help get the most $$$ from the sale) usually in thin market hours like overnight, etc, that seem to have a huge effect on the price and set the tone for the next trading day(s).

If people buy an item due to fear that is DEMAND. Demand does not mean supply is lacking per se. Take Apple products. Demand is generally huge despite the fact that there is plenty to go around. Perhaps you believe that supply/demand means only there is a totally correlated relationship between the two. Usually there is such a correlation over the long term, but short term prices can go up or down irrespective of supply if demand is high enough.

Although I am too busy/lazy to do the research, back in the day when you posted as TreasurePirate you used to say to those who claimed the price of silver falling was due to manipulation, "what about when the price goes up, isn't that manipulation too", or something to that effect.

I am glad though that you disagree with my views, because if we agreed on this I would have to have be immediately taken to a Marchas sponsored intervention session to get my mind right again.

Just my opinion.

Jim

 

[bradley1719]

Wut?

You asked if $25-$30 was a good time to sell. In order to answer that question one has to state where they think the price of silver is going. My belief is that this short term upturn is based on fear only. If that fear doesn't last, then the price of silver may never hit $25-$30. Obviously, it is also possible for the price of silver to go to $100+ based on fear or other phenomenon. You have to ask yourself what the most likely scenario is. Just be sure to base your decision on logic and not the typical fallacies that PM bulls like to spew.

My belief (and it is just my opinion) is that without major fear, the price of silver would be less than the price you paid for your silver bar. If someone believed that the fear was going to continue to subside over the next couple of years then it could also be possible that you will lose money on your bar over the short term.

All just my opinion which I'm assuming is ok since you asked us for our opinions. If you don't want my opinion anymore then I am happy to withdraw my comments.

Good luck.

P.S. - That's a beautiful silver bar. I have to imagine that holding a kilo of solid silver in your hand is an amazing feeling. My largest silver bar is only 10 ounces. But I love how it feels in my hand.

 

[jolteon]

You asked if $25-$30 was a good time to sell. In order to answer that question one has to state where they think the price of silver is going. My belief is that this short term upturn is based on fear only. If that fear doesn't last, then the price of silver may never hit $25-$30. Obviously, it is also possible for the price of silver to go to $100+ based on fear or other phenomenon. You have to ask yourself what the most likely scenario is. Just be sure to base your decision on logic and not the typical fallacies that PM bulls like to spew.

My belief (and it is just my opinion) is that without major fear, the price of silver would be less than the price you paid for your silver bar. If someone believed that the fear was going to continue to subside over the next couple of years then it could also be possible that you will lose money on your bar over the short term.

All just my opinion which I'm assuming is ok since you asked us for our opinions. If you don't want my opinion anymore then I am happy to withdraw my comments.

Good luck.

P.S. - That's a beautiful silver bar. I have to imagine that holding a kilo of solid silver in your hand is an amazing feeling. My largest silver bar is only 10 ounces. But I love how it feels in my hand.

No I appreciate your comment thank you