I’m at my father-in-law’s, getting my ration of FOX News. (TV’s always on, whether anyone is watching or not.)
So, how do you buy silver “on special”?
They’re also advertising gold, but it doesn’t seem that gold is “on special”.
And then there’s the “official pillow of the National Sleep Foundation”.
FWIW, I have no idea what commercials they show on CNN, MSNBC, etc.
Conservative talk and news is funded greatly by gold sellers. No, don’t. Though I would buy silver sooner than I would buy Gold. I used to buy silver mining shares at low and sell high and did well, but it has remained at a low point for the last few months. If you intend to buy for a long position, buy SLW shares. But there is no reason in my opinion to see prices of silver (which slw shares are tied directly to) go up anytime soon. It has been drifting up and down in the 18 - 20 range. That is significant gains if you can time and monitor with a lot of money. But I haven’t had the time recently to watch like that.
I say buy silver mining shares because your transaction costs will be super low. Buying real precious metals have transactions costs as high as 30%. Then you have to store it. Usually they con you into storing it with them at high cost and ruins the purpose of buying physical metals to begin with.
If you really want to have some gold for when the shit hits the fan, go buy some silver coins at your local coin store. You will still pay a premium, but less. Still better than buying jewelry.
So, how do you buy silver “on special”?
Was it a commercial for one of the Stansberry newsletters?
Could it be this:
http://en.wikipedia.org/wiki/Coin_roll_hunting
I have owned shares of CDE for years. It was good to me for awhile but has been horrible lately.
Last I checked their cost of production was around $19 an oz.
So, I am not sure you want to invest in them unless you are looking to take a gamble at the low price of $5.19.
Good luck with whatever you decide.
The add is for Lear500.com. I don’t know them, but I’m not planning on buying silver. Goodness knows if I did, then the price of silver would really plummet. I’ve never gone into investing in precious metals. Too cautious, I guess.
Yes, it’s funny that guys like Glenn Beck have ads that are mostly get rich quick schemes. It’s as though their audience was a bunch of suckers.
So, how do you buy silver “on special”?
Step 1) Run a bunch of radio ads claiming that Obama/The Fed/The Chinese/ is conducting some sort of vast conspiracy and that runaway hyperinflation is just around the corner.
Step 2) Sit back and wait for the chumps (usually elderly folks barely scraping by on a low 6-figure retirement portfolio) to call in.
Step 3) Sell Granny a bunch “numismatic collector coins” or some other such bullshit at a 25% or so markup over the spot price.
Step 4) Wait for Granny to realize that regardless of whatever Obama/The Fed/The Chinese/etc. are up to, the people down at the grocery store are still denominating their transactions in those old and tired US dollars that the nice man on the phone so convincingly argued to be worthless, so she’s gonna have to sell off some of those coins if she wants to, you know… eat.
Step 5) Buy back some of Granny’s coins, this time for 25% or so under the spot price.
In the early 80’s, a buddy convinced me to buy silver. I bought 100oz bars. 10 of them as I recall. I bought them for $9 an oz.
Shortly thereafter, they went up a few dollars then down more. Finally, about 10 years later I sold 9 of them for about $10 an oz. Of course, you pay a fee to buy and also a fee to sell so in the end it was near breakeven.
I kept one bar. I have used it ever sense as a paperweight. And as a reminder to never do that again.
BTW, I just checked. Silver is currently at $15 an oz. So in the 35 years I have owned that silver bar, it has only grown in value about 50%. A really lousy ROR.
Why didn’t you sell them when it was $40? You would have made 30 grand.
Why didn’t you sell them when it was $40? You would have made 30 grand.
So you advocate ‘market timing’ as the solution. Interesting. That is not mentioned in those commercials cited above.
BTW, when it was $40, somebody was a buyer, thinking that it was going up. I guess they just weren’t as smart as you.
I advocate buying when low and selling high when folks are greedy/frenzied.