Whats a better buy now, silver or gold?

[Roadquest]

Re: What's a better buy now, silver or gold?

Silver is the best buy, at this time for the average person. The adverage working man like me. Would
not have the funds to buy heavy into gold. Silver is in for the biggest rise in quite a while. And I believe
by Mid April it will be clear, that silver is a better buy.

RQ

 

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[jim4silver]

Re: What's a better buy now, silver or gold?

Silver is the best buy, at this time for the average person. The adverage working man like me. Would
not have the funds to buy heavy into gold. Silver is in for the biggest rise in quite a while. And I believe
by Mid April it will be clear, that silver is a better buy.

RQ

I have roughly equal value in both. I hope they both rise. Silver is cheaper but gold has more appeal as a safe haven for big money buyers, like countries, banks and other financial institutions.

If there is a depression and people stop buying as many goods that contain silver, such as electronics, this could put a bit of a damper on silver's price. The only thing that is going to make silver's price go up is investor demand in the near future I believe. I hope that joe six packs all over decide to buy silver, and gold too.

Jim

 

[Seajay]

Re: What's a better buy now, silver or gold?

Hey Pigiron,

You are living proof that 'Stupid is as stupid does." Granted, the US does have it's share of problems, but you might want to check out your own outback yard. A little internet research reveals that your country has it's share of problems dealing with the same vices you mentioned in your post; an example of the pot calling the kettle black. The day you and Australia have their houses in order is the day you all are in a position to lecture the US. Frankly, it sounds like envy. With all the problems we face, people from around the globe are lining up to come to America. I don't see or read about people beating down the doors to get into the land down under; unless it's for a week of vacation. After that, they head home. Now regarding silver and gold.
Both metals are set to climb in price. I think it is a matter of preference and affordability. I have some of both. Picked up some Mercs, Franklin halves and silver quarters (30s-50s) for 10 and 11 times face a week ago; Morgans and peace at $15.00 each. These coins run VF condition. As far as as storage goes, buy a bigger doggone box! SS, as per usual, you have made your points. It is amazing to me how the younger (?) generation disregards the wisdom, instruction, and the experiences of the aged. Now there is a precious commodity!

Seajay

Seajay

 

[Silver Stripe]

Re: What's a better buy now, silver or gold?

Silver is the best buy, at this time for the average person. The adverage working man like me. Would
not have the funds to buy heavy into gold. Silver is in for the biggest rise in quite a while. And I believe
by Mid April it will be clear, that silver is a better buy.

RQ

I have roughly equal value in both. I hope they both rise. Silver is cheaper but gold has more appeal as a safe haven for big money buyers, like countries, banks and other financial institutions.

If there is a depression and people stop buying as many goods that contain silver, such as electronics, this could put a bit of a damper on silver's price. The only thing that is going to make silver's price go up is investor demand in the near future I believe. I hope that joe six packs all over decide to buy silver, and gold too.

Jim

Hi Jim,
I was told to keep it in thirds, gold, silver, and cash (for good deals that pop up). I need the cash for hunting anyways. Anyways without consciousely doing that, except keeping the same amount of cash, I bought whichever I wanted when I wanted. Well the other day I took inventory and to my surprise I'm at about 1/3 gold, silver and cash. But then to my surprise I found I have a full equal part of 90%- skewed my 3rds all up having 4 of them now haha, then again as spot goes up my cash is falling below 1/3 too but its all good. Wonder if the metals will get the summer blues again this year or if "bailout/stimulus mania" will drive them through the roof. Watch and see I guess.
HH to ya, Mark

 

[seger98]

Re: What's a better buy now, silver or gold?

I look at it this way, if I buy one ounce of gold for $1000.00 how many ounces of silver can I buy for the same amount of money? Right about 71 ounces, so if the price goes up say $5.00 on silver I would be up $355.00, that would mean gold would have to sell at $1355.00 an ounce to make the same profit!

Which one do I think is more likely to happen? Silver at $19.00 an ounce or gold at $1355.00. I will go with the silver!

 

[Roadquest]

Re: What's a better buy now, silver or gold?

Gold is a fine investment. I don't think anyone can argue with that.
But, lets be piratical, how many of us " Joe six packs " can afford to buy
a large amount of gold. I am aware, that there are a few people here that
are flush, and can buy the gold. By all means do that.

But, lets just say that the dollar collapse. And silver and gold will be " money "
of chose. How many of your local stores are going to have change for your
two thousand dollar gold coin, or bar.

I think a lot of silver would be used to buy goods. Sure, I know the dollar will
never fail. It just chicken little saying the sky is falling. Right?

RQ

 

[Jack_MIghtyheart]

Re: What's a better buy now, silver or gold?

For all the reasons above, I'm going with silver. Also, I can get more silver than gold, and I like piling it all up and looking at it. I guess in that respect, I'm not so much investing in silver, as I am just hording it. <.< >.>

 

[Bumpstick]

Re: What's a better buy now, silver or gold?

I try to buy both. I prefer silver eagles and pick up some small fractional gold coins 1/10 and 1/4 oz as my weekly paycheck warrants.
The US eagles are quality minted coins and I will give a little extra for them. Quality older US mint state coins when available.
When things get tight it is easier to move small fractional coins then the pricey 1 oz gold or bullion stuff.
If you prefer gold; I suggest the $2.50, $5.00, $10.00 Mint State US collector gold. Good up side for the collector.

 

[jim4silver]

Re: What's a better buy now, silver or gold?

But, lets just say that the dollar collapse. And silver and gold will be " money "
of chose. How many of your local stores are going to have change for your
two thousand dollar gold coin, or bar.

RQ

Even if the dollar does collapse, I don't ever see us going to a barter economy where you will use silver and gold to buy groceries. For one, not enough people have gold or silver, so everyone else without will be rioting in the streets and looting if it comes to that. And for those who do own it, how long will it last? If I had to use my gold and silver to buy groceries, it would not last long.

I think a worst case scenario for us is more like Zimbabwe where they have skyrocketing inflation and start printing one billion dollar notes, or perhaps some new alternative currency. In either case, the benefits of silver and gold will be preservation of buying power, which is why I buy both of them.

I try to buy both. I prefer silver eagles and pick up some small fractional gold coins 1/10 and 1/4 oz as my weekly paycheck warrants.
The US eagles are quality minted coins and I will give a little extra for them. Quality older US mint state coins when available.
When things get tight it is easier to move small fractional coins then the pricey 1 oz gold or bullion stuff.
If you prefer gold; I suggest the $2.50, $5.00, $10.00 Mint State US collector gold. Good up side for the collector.

I like the old US gold too and have some. Back when you could get it near spot it was a great deal, but now the premiums are way too high for me. Basic circulated coins are selling for 200 to 300 over the spot price of gold per ounce, and MS coins are ridiculous in price in my opinion. Some people buy these because of the idea they would be exempt in a confiscation. Since there is no confiscation now, nobody knows for sure what would or would not be exempt if this were to happen again. I think if it did happen again (and I am in the camp who does not believe it will happen for various reasons), all gold would be confiscated except for maybe jewelry. But if things got to the point where they confiscated, everything could be ordered turned in jewlery included.

Right now I when I buy gold I am getting the cheapest, most recognizable coins I can get (Mexican peso coins, 20 francs, etc). To me gold is gold, except I don't buy bars only coins made by a government mint--no private mint stuff for me.

Jim

 

[Gettintoknowsomethin]

Re: What's a better buy now, silver or gold?

I found this news story today. If this is true there is no telling what the gold price might climb to in 2009! Sources from GATA (the Gold Anti-Trust Action committee) report growing distress for participants in the COMEX gold contracts, where a commercial party is very short and in deep trouble. They have sold more gold bullion than they can deliver. They are likely one of the big banks who violate the law with impunity, with USGovt sanctioned protection. By that is meant they routinely do not post 90% of the metal as collateral that they illegally sell. This is naked shorting by any other name. There are reports of grave concern over the upcoming June gold option expiration. If too many deliveries are ordered, then the commercial shorts would be under stress for exposure for naked shorting. They will eventually be caught in a bind and default on contracts. The important loaded monthly contracts are March, June, September, and December. The COMEX has tried to limit the ability of buyers to take delivery, running them around in circles, and entangling them in red tape, all clearly restraint of trade endorsed by the USGovt. Such rules are not in effect for cotton or soybeans or crude oil or pork bellies. After all, a financial crime syndicate has taken control of the USGovt, ever since Robert Rubin took charge at the USDept Treasury in 1992. His major project was to gut the nation of its gold, for the private profit of his friends. Recall Rubin came from Goldman Sachs. Rubin was the author of the Strong Dollar Policy which brought ruin to the nation. Hey, just my opinion!

Background inventory strain has come from unexpected sources. The Germans have demanded that gold bullion held in US custodial accounts be returned to their owners, with physical gold shipped back to Germany. The Dubai bankers have demanded that gold bullion held in London custodial accounts be returned to their owners, with physical gold shipped back to the United Arab Emirates. They are following the hired German counsel. In all likelihood, neither US nor London sources are in possession of all the gold held in those custodial accounts, since at least some of it probably was improperly leased. By that is meant without owner permission or knowledge. So an uproar could come soon with charges of gold bullion theft, or at least failure of fiduciary responsibility. Theft is a simpler description

 

[Seamuss]

Re: What's a better buy now, silver or gold?

I buy a lot of silver and dig up a lot(plenty) of gold. I do buy small amounts of gold in tenth ounce rounds. Small amounts of gold is worth as much to me as large amounts of silver. Easier to hide also.

The alternative is the greenback. And everyone should know how worthless the greenback is.

If your investing with a limited amount of funds then silver is the best way to go and by no means do you invest so much into it that you need to sell some at the end of your pay period. Buy it to sit on it for the long term.

 

[Gettintoknowsomethin]

Re: What's a better buy now, silver or gold?

I hope the gold price will rise some by 2010 I bought $20,000 worth in 1966 and its still sitting in the SDB at the bank all covered with dust. But at the price I paid back then my hopes are to have a good profit when I do sell. I also have been buying mint rolls of silver eagles and 10 ounce bars of silver as of late. Its expensive to rent a box at the bank but I guess it helps you sleep good at night!. I dont think inflation will be that bad for at least 3-5 years out from now and I retire in 6 years. Although I know you wont get rich buying PMs at least the government cant print more gold!. I have noticed that the central banks around the world have been buying gold for their reserves lately. Its odd for them to buy like they have been doing as traditionally they have only sold. I wonder if they know something about the nations financial future we dont know about?

 

[Silver Stripe]

Re: What's a better buy now, silver or gold?

Congrats on the forsight to buy all that gold, you do have more faith in the banking system than I do though. HH Mark

 

[Gettintoknowsomethin]

Re: What's a better buy now, silver or gold?

Lately, I have been haveing second thoughts about my safe deposit box!. I dont have a choice but to leave my stuff in the bank for security but now I see some states are takeing your box at local banks to fund their goverment operations!http://www.youtube.com/watch?v=UdB2YiymmUc

 

[Seamuss]

Re: What's a better buy now, silver or gold?

Lately, I have been having second thoughts about my safe deposit box!. I don't have a choice but to leave my stuff in the bank for security but now I see some states are taking your box at local banks to fund their government operations!http://www.youtube.com/watch?v=UdB2YiymmUc

This is exactly the reasons I don't trust the banks and the government to hold my valuables for me.

The phrase,"I got your back", or "We're the government, we're here to help", comes to mind when I see this going on.

The economy still sucks and I still don't trust the banks. Their up to no good and will always be up to no good. I go to the bank to visit my money. My money talks real loud when I'm there. It says "GOODBYE" to me when I'm in the bank. Good reason to take it out andbuy gold and silver.

If you want to survive this economy, then trust fewer people with your valuable and sit on them yourselves.

 

[jim4silver]

Re: What's a better buy now, silver or gold?

Lately, I have been having second thoughts about my safe deposit box!. I don't have a choice but to leave my stuff in the bank for security but now I see some states are taking your box at local banks to fund their government operations!http://www.youtube.com/watch?v=UdB2YiymmUc

This is exactly the reasons I don't trust the banks and the government to hold my valuables for me.

The phrase,"I got your back", or "We're the government, we're here to help", comes to mind when I see this going on.

The economy still sucks and I still don't trust the banks. Their up to no good and will always be up to no good. I go to the bank to visit my money. My money talks real loud when I'm there. It says "GOODBYE" to me when I'm in the bank. Good reason to take it out andbuy gold and silver.

If you want to survive this economy, then trust fewer people with your valuable and sit on them yourselves.

If you own your own home, there is no reason to use a SDB in that you can have a fire proof, hidden safe installed. But if you rent, you cannot do this. I trust the local thiefs less than the banks. At least I can sue the banks if they breach a contract.

Jim

 

[Gettintoknowsomethin]

Re: What's a better buy now, silver or gold?

I just cant see people paying $1500+ for an ounce of gold. Much less buying several hundred oz at once. However I can see people paying $50 for silver because its been done before. $1100+ hasn't. You have more middle class in the world then rich, far more. So I see the rush on the poor man's metal because it has so much room to move and 10 times more people can afford it. We all know there's a shortage now imagine then. In my town there's gold coins all day long,,, but the silver is gone as soon as it trades hands.....I'm wrong about a lot of stuff but I think this makes sense...... but to think of it nothing makes sense anymore. If the price on gold was $1500+ per ounce it would be because it was in high demand therefore easy to sell for that price.

 

[Roadquest]

Re: What's a better buy now, silver or gold?

Bad post pig.

Nobody asked for your opinion on what kind of people lived in the USA. If your really in Australia then how could you have an accurate judgement on the people here. My point is your post was offensive and tacky. You need to delete it.....

nylangelo, I just caught this. And I don't usually respond to something that was
clearly ment to cause a stir. Not all Australia people have the opinion
of pig. In fact, I have never meet another one that doe's. There's good people and
theres a hole's everywhere. Anyway, I buy silver when I can, gold is to high for my
budget. I think in the long run, those that buy silver will have a good return.

Roadquest

 

[Roadquest]

Re: What's a better buy now, silver or gold?

Obama Administration pushes IMF gold
by Lawrence Williams

The U.S. House of Representatives has passed a bill which included an expanded credit facility for the IMF and effective U.S. approval for the proposed IMF sale of 400 tons of gold.
The Obama administration has pushed a bill through the U.S. House of Representatives approving $106 billion in supplemental funding, primarily for the Iraq and Afghanistan 'security' efforts, but attached to it was also an expanded credit facility for the International Monetary Fund (IMF) of a massive $108 billion which included an agreement to allow U.S,. members of the IMF Board to agree the proposed $13 billion sale of 400 tons of IMF gold to shore up its finances.
In theory the US. approval of the IMF gold sale, which still has to pass through the U.S. Senate would be the final hurdle in the gold sale actually going ahead. But despite this there was virtually little or no impact on the gold market. In part this may be because of scant publicity being given to this part of the funding approval, but also in that firstly the gold market has largely discounted the IMF gold sale anyway, and secondly in that the IMF has said it will dispose of its gold in an orderly manner through a system such as the Central Bank Gold Agreement which limits sales volumes in a given year.
However the current CBGA runs out in September and there has been no announcement yet of a renewal beyond that date. Given Central Bank gold sales under the CBGA appear to have dropped sharply over the past year it may be felt there is no longer a necessity for a new Agreement. Indeed indications are that some major Central Banks, notably the Russian and Chinese ones, as well as some Middle Eastern banks, are likely to increase gold holdings in part in an attempt to diversify reserve dependence away from the U.S. dollar given the mixed views on the greenback's future path due to the huge amounts of money being pumped into the U.S. Economy to try to stave off recession - or even depression.
In their April Fortis Bank metals monthly, the London based VM Group commented that "There are some good arguments against a CBGA renewal. The original 1999 Agreement arose from a structural weakness in the gold market. Back then, a class of investors (the Central Banks) believed they were massively overweight in gold and wanted to sell; the Central Banks decided to collaborate on a selling programme in order to ensure that they drip-fed gold onto a market that was already very weak. Those conditions are arguably no longer relevant.
"If there is no renewal of the CBGA, that would send a tremendously bullish signal to the gold price, at a time today when there are many more actors on the buy-side (such as private investors) and an obviously slowing interest to sell.
"This would boost gold's status as a reserve asset, giving holders greater flexibility in how they bought and sold it. It would also encourage other Central Banks with large forex reserves but little gold (such as China) to buy. After all who wants to buy something for which they need an Agreement in order to re-sell?"
But back to the U.S. Moves. Writing in the Wall Street Journal, economist Judy Shelton comments: "The Obama administration went to great lengths to get the IMF its billions. Last week, congressional leaders received a letter that made a firm connection between global economics and global security. "We know from the 1930s that a protracted global economic slump can foster undesirable and unforeseeable reactions to hardship and adversity," it stated. "Financial hardship and poverty breed desperation, which helps terrorist networks to attract new recruits with messages of hate, violence and intolerance." The letter then urged Republicans and Democrats to support the President's request for IMF funding. "We believe that the current instability poses a significant risk to the long-term prosperity and security of the United States." It was signed by Secretary of State Hillary Clinton, National Security Adviser James Jones, and, most notably, Secretary of Defense Robert Gates."
Shelton's view is that this was an attempt to pressure representatives into voting in favour on the grounds that a well financed IMF might provide a further bulwark against global financial collapse leading to global instability and would thus be a threat to greater U.S. security. She questions this both on economic grounds and on whether the IMF is indeed the right vehicle to handle such a policy.
"Officials concerned about global security are right to recognize that financial instability breeds discontent and fosters social resentment that can challenge ruling interests and topple whole regimes." says Shelton. "The question is whether short-term fixes -- in the form of emergency loans to a flailing government, the sort of assistance the IMF is prepared to offer -- provide a solid foundation for economic growth."
Part of the problem, in Shelton's view, is that the IMF is no longer capable of fulfilling its role of overseeing an international monetary system because, since the end of the Bretton Woods era there is effectively no global monetary system and that all the IMF can offer nowadays is "the prospect of lurching from one short-term economic fix to the next."
Where does this leave gold? One would think that overall such moves will end up being long term positive for bullion. If and when IMF gold sales do hit the market there may be short term adverse consequences, but if this gold is seen to be quickly absorbed (perhaps by Central Banks looking to build gold reserves) then there could be a quick rebound.
Fundamentals don't necessarily look good for gold at the moment, but the gold market is notable for ignoring fundamentals at least in the short term. It has been retaining its price levels reasonably well in the face of low jewellery demand and a resurgent dollar - both normally very adverse factors. Investment demand seems to be stable. People are still nervous. Gold still offers a degree of wealth protection which most other markets do not at this continuing time of economic turmoil.

 

[Gettintoknowsomethin]

Re: What's a better buy now, silver or gold?

I look at it this way, if I buy one ounce of gold for $1000.00 how many ounces of silver can I buy for the same amount of money? Right about 71 ounces, so if the price goes up say $5.00 on silver I would be up $355.00, that would mean gold would have to sell at $1355.00 an ounce to make the same profit!

Which one do I think is more likely to happen? Silver at $19.00 an ounce or gold at $1355.00. I will go with the silver!

GOLD AT $1355.00 (THATS MY GUESS!) GOLD IS BETTER THEN SILVER FOR INVESTMENTS!!!!!. The price on gold also isnt as unstable as silver. And I find its much easyer to hide $20,000 worth of gold then $20,000 worth of silver! I can hold $20,000 worth of gold in one hand try that with silver!