Originally posted by peanuts
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Is now the time to do it? What are some of the reasons for selling? What are the reasons for buying? If I do buy, should I buy physical bars of gold and silver? Should I just buy either the GLD or SLV ETF's? Are people crazy? What's going on with these commodities? Is one better than the other?
Here's an 8 year chart of Gold:
This is what Silver has done since January, 2000:
One day, I will inherit physical gold and silver. But I've been thinking of starting my own little stash of Silver bullion, today. What do you think? Should I do it?
Here's an 8 year chart of Gold:
This is what Silver has done since January, 2000:
One day, I will inherit physical gold and silver. But I've been thinking of starting my own little stash of Silver bullion, today. What do you think? Should I do it?
about 25 years ago i acquired about 100 10 oz. bars of silver ingots that were cast by an outfit called Sunshine Mining. I took them from a friend to settle an old debt. I credited him somewhere between $2.50 and $3 an oz. just to get the debt settled because that was all he had left to offer. he was a gambler and had been on a really bad slide and was down on his luck. That price was just a bit lower than what silver was selling for at the time. I remember that year I was giving them away as stocking stuffers for Christmas presents. as it turns out it wasn't long before the Hunt brothers tried to control the silver market and the price shot up from around $3 to $50 an oz. Each bar, I had about 80/90 of them left after what i gave away as Christmas presents, went from about $30 each for a 10 oz bar at $3 per oz. to almost $500 for a 10 oz. bar at $50 per oz. I took them to a dealer and sold them for $400 per bar cash. I still have about 10 or 15 of them left laying around the house. I use them for paper weights. I sold 65 of them at $400 each during that run up. two weeks after i sold them the bottom fell out of the silver market and the price dropped back down to under $10. the guy that i got them from originally ended up commiting suicide by shooting himself in the head with a 22 cal. pistol. I went to his house one morning to check on him and to see what he was up to and to see if he needed a stake to get back on his feet and found him dead in his bed. he had been dead for about 3 days. the pistol was still in his hand.
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