Great Time to Invest in Silver!

[DLD]

32.07 not bad for a weekend short run if you have some liquid. I think we will see even lower prices opening of Asian market and further losses when NY opens. Maybe 29.00? Anyway, I just put a bid in for 8 rolls of America Silver Eagles and my bid is right at spot. 13 hours till auction ends so we will see. If not I still have the guns out and i am trying to murder everything moving.

 

[youknowme123321]

is there a year the nickels must be dated before???

 

[DLD]

is there a year the nickels must be dated before???

No, any Nickel will do. You may find some old war nickels or buffalos but for the most part, just plain old Nickels. They do take up space, I buy $500 at a time in bank bags. A big closet or even small bedroom can fill up quickly. But remember, if you need to, you can always pay anyone with those rolls of nickels! They will never be less than 5 cents and they are guaranteed to skyrocket the second the USA stops minting them in their current metal content.

Increase in metal values
In the first decade of the 21st century, commodity prices for copper and nickel, which make up the five-cent coin, rose dramatically, pushing the cost of manufacturing a nickel from 3.46 cents in fiscal year 2003 to 11.18 cents in fiscal year 2011. In an attempt to avoid losing large quantities of circulating nickels to melting, the United States Mint introduced new interim rules on December 14, 2006, that criminalized the melting and export of cents (which as of 2011 cost 2.41 cents to produce) and nickels. Violators of these rules can be punished with a fine of up to $10,000, five years imprisonment, or both. The rules were finalized on April 17, 2007.[106][107] On October 4, 2012, a newly-minted US nickel contained $0.054683 worth of metal, 1.0936 times its face value, at closing market price.[108]
Mint Director Henrietta Fore in 2004 asked Congress to fund research into lower-cost alternatives to present coinage metals. Although the initiative lapsed when she left office in 2005, in 2010, Congress passed the Coin Modernization, Oversight, and Continuity Act, directing the Mint to explore alternatives to the present compositions of the six denominations, from cent to dollar. In 2011, the Mint awarded a contract to study the issue to Concurrent Technologies Corporation of Johnstown, Pennsylvania. Although the contract does not expire until 2013, under the legislation, the Mint is to provide a detailed report to Congress and to the Treasury Secretary by December 14, 2012.[107] The Mint expects demand for nickels in commerce to increase from 840 million needed in Fiscal Year 2011 to 1.08 billion in 2015.[109]

All sited through Wikipedia

 

[youknowme123321]

Time to start buying nickels

 

[DLD]

Time to start buying nickels

Very much so. I pick them up in $500 bags. Anyone who is not hoarding their nickels is just plain dumb. I also picked up a couple rolls of ASE's and 8 rolls of Quarters. Hoping for a bigger drop before I shoot the main guns.

 

[ninja_42]

Sounds like sound advice DLD.
I would definitely invest some into silver if I had more money to spare.
Unfortunately all of my money is tied up atm.

 

[DLD]

Sounds like sound advice DLD.
I would definitely invest some into silver if I had more money to spare.
Unfortunately all of my money is tied up atm.

WIthout risk you could start by investing in US Nickels at face value (5 cents). You will need some room to store as they add up fast but currently, the Nickel has a melt value twice it's face value. We can not melt them but very soon, when the Nickels metal contents are changed, the value with be easily 10 times face within a year. Even if I am dead wrong, the Nickel will never be less than 5¢, so you will never lose.

With Silver it is still a good time to get in, I am starting to think that it will remain sideways until election is over. This will give people a chance to grab some. The sideways trading is definitely due to the current administration manipulating the dollar....as soon as the election is over Silver will jump to $40+ again IMO.

 

[youknowme123321]

So say I have $100 worth of pennies that are dated between 1982 or before. So this $100 worth of pennies is worth $200. How do I get that $200? And how will I get the increased value of nickels in the years to come?

 

[youknowme123321]

anyone ever hear of goldmoney.com? any good?

 

[TRRbogie]

So say I have $100 worth of pennies that are dated between 1982 or before. So this $100 worth of pennies is worth $200. How do I get that $200? And how will I get the increased value of nickels in the years to come?

Check with your local coin store. Many of them trade in copper pennies - same with nickels when the time comes.

 

[TRRbogie]

anyone ever hear of goldmoney.com? any good?

No experience with them, but the 3.99% fee on top of SPOT for silver, and what looks like some ID verification process would be a red flag for me. Compare that to what you'd pay at Provident Metal (above).

I'd stay away from anbody that's advertising on cable. Even if they're legit, somebody's got to be paying for their advertising overhead.

 

[youknowme123321]

thanks TRRbogie

 

[youknowme123321]

So does it matter if it's coins or bars? I'm completely new to this and trying to learn quickly before silver prices increase. Does it matter if I buy coins or bars? Thanks

Right now I am leaning toward 1 oz OPM .999 Fine Silver Bars.

 

[youknowme123321]

So with nickels, say i have $100 worth of nickels and in 2 years the melt value of a nickel is 20 cents making my $100 worth of nickels worth $400. Will I take these nickels to my local coin store and ask them for something around $350-375 for my $100 FV nickels?

Thanks for all the help. Just trying to get as much of a grasp as I can from reading about nickels and silver

And I just noiticed the nickels MV is now worth less then 5 cents

 

[stingrey]

First, recession or not, the increase in the federal debt to twice its current level will reduce the value of the dollar. If you have a 1000 dollars today, it may have the buying power of 100 dollars in ten years. Or another way, it may take a wheelbarrow full to buy a car for instance. The more money is printed without backing, the less value it has.

That is why silver (and gold) are good investments. They are real, tangible wealth. If the dollar collapses, you still have real money, not a piece of paper backed by nothing.

 

[DLD]

First, recession or not, the increase in the federal debt to twice its current level will reduce the value of the dollar. If you have a 1000 dollars today, it may have the buying power of 100 dollars in ten years. Or another way, it may take a wheelbarrow full to buy a car for instance. The more money is printed without backing, the less value it has.

That is why silver (and gold) are good investments. They are real, tangible wealth. If the dollar collapses, you still have real money, not a piece of paper backed by nothing.

A man after my heart!

 

[commercial]

hi dld, i'm too late to read this topic. I should have read it back last August.

Do you think it is still better as of now to invest in silver/gold? And btw, do you think it is a good investment even if i'm not living in US/ countries that does not have silver coins?

TIA

 

[TRRbogie]

Good article with some basic info re silver investing - http://www.silverseek.com/article/silver-series-silver-investment-part-3-8866

 

[TRRbogie]

Even if you don't live in the US, you can buy Silver coins/bullion - many countries mint coins/rounds/bars - www.providentmetals.com has stuff from a number of them. Not sure if they ship outside the US, or if shipping costs make it cheaper to find a supplier closer to you.

 

[Powersnake12]

hi dld, i'm too late to read this topic. I should have read it back last August.

Do you think it is still better as of now to invest in silver/gold? And btw, do you think it is a good investment even if i'm not living in US/ countries that does not have silver coins?

TIA

Its not too late.

The next leg up is about to start.

A dollar move today.

Get started

 

[DLD]

Its not too late.

The next leg up is about to start.

A dollar move today.

Get started

I just picked up 8 ounces of Gold! My offer was in before the spike and I accepted it thereafter I love when time works for me!

 

[acer33]

First, recession or not, the increase in the federal debt to twice its current level will reduce the value of the dollar. If you have a 1000 dollars today, it may have the buying power of 100 dollars in ten years. Or another way, it may take a wheelbarrow full to buy a car for instance. The more money is printed without backing, the less value it has.

I always say the paper is backed by future debt. rofl

I look at this debt chart sometimes to see where its all at

http://www.economist.com/content/global_debt_clock

 

[rakas]

Looks like all the QE in the system has prompted a surge in stocks above the values we should expect for stagnant/sub-par growth, could be a good 10% contraction so what out for a surge in gold and silver this year.

 

[Powersnake12]

$14 move for gold today.

$.32 move for silver.

Looks like they've bottomed.

Time to accumulate.

Cheers.

 

[DLD]

$14 move for gold today.

$.32 move for silver.

Looks like they've bottomed.

Time to accumulate.

Cheers.

Yeah, I picked up a pound of gold and a half box of ASE's. Will continue to grab these bargains and I plan on a big trade up to property when the rise comes. Great freaking bargains! I almost got a complete Tiffany set of silver in original condition, from 1890 for spot price of silver! I lost the auction by nothing. I am amazed at how everyone is unloading their wealth? Can't they see the future?

 

[DLD]

Also, forgot to mention, have $1000 in nickels and about the same in pennies, going to try to get my numbers up here too. Lastly, would love to cop a half pound of platinum...we will have to see.

 

[8incyclops]

Silly question can you buy any metal in bulk and melt it down yourself to sell in smaller amounts?

 

[DLD]

Silly question can you buy any metal in bulk and melt it down yourself to sell in smaller amounts?

It is currently illegal to melt us coins. If it where legal one could easily double his money day after day for all time with nickels done. A Nickel, being 5¢ has a average melt value of about 10¢ (between 8 and 12). If you had a cauldron that could handle 100,000 nickels per day ($5000), every melt you would clear any where from $4000-$6000. This could be even higher by melting down copper pennies where you would triple your investment in a melt. Believe me, many people do this and get away with it. People have been melting silver coins for a long time now.

Consider a silver dollar with a face vale of $1 but a melt value of $23.00....25 times the value! Imagine in 1980 when the price of silver went from $6 to $48.00! The complete transfer of wealth by the value of silver! People who held on to their quarters and halves and dollars all cashed in and became rich. The same thing we will see again and it will happen with copper, zinc and nickel.

I am not sure how to feel about the current state of silver and gold but a good chance to buy PM's cheap. I hope we see a sharp increase similar to August of 2011 where I can cash out and buy some beautify property! I have always turned every dollar I have into metal and I am waiting for the chance to really see a transfer in wealth in my own life!

 

[8incyclops]

It is currently illegal to melt us coins. If it where legal one could easily double his money day after day for all time with nickels done. A Nickel, being 5¢ has a average melt value of about 10¢ (between 8 and 12). If you had a cauldron that could handle 100,000 nickels per day ($5000), every melt you would clear any where from $4000-$6000. This could be even higher by melting down copper pennies where you would triple your investment in a melt. Believe me, many people do this and get away with it. People have been melting silver coins for a long time now.

Consider a silver dollar with a face vale of $1 but a melt value of $23.00....25 times the value! Imagine in 1980 when the price of silver went from $6 to $48.00! The complete transfer of wealth by the value of silver! People who held on to their quarters and halves and dollars all cashed in and became rich. The same thing we will see again and it will happen with copper, zinc and nickel.

I am not sure how to feel about the current state of silver and gold but a good chance to buy PM's cheap. I hope we see a sharp increase similar to August of 2011 where I can cash out and buy some beautify property! I have always turned every dollar I have into metal and I am waiting for the chance to really see a transfer in wealth in my own life!

Thanks for the reply I've been looking at buying metal before but never did now I'm going to start collecting,our coins in oz are not pure silver but a mix but i can buy direct bats from our mint,I've seen 1 oz silver bars on eBay selling now for around $40-$45 when silver is only $28 last time I checked,I was thinking of buying in bulk then melting down 1 oz bars and selling for a profit not now but later on when it rises more.
I have some cash saved up I want to buy heaps but a bit unsure either gold,silver or platinum.

 

[DLD]

Thanks for the reply I've been looking at buying metal before but never did now I'm going to start collecting,our coins in oz are not pure silver but a mix but i can buy direct bats from our mint,I've seen 1 oz silver bars on eBay selling now for around $40-$45 when silver is only $28 last time I checked,I was thinking of buying in bulk then melting down 1 oz bars and selling for a profit not now but later on when it rises more.
I have some cash saved up I want to buy heaps but a bit unsure either gold,silver or platinum.

Safest place to buy silver is in either Silver Eagles or Silver Junk Change. How I do this is by being a vulture on the desperate on ebay. I look for auctions listed at like 2-3 am, 24 hour auctions from people with terrible feedbacks. I know I am going to get it cheap and I know if I am ripped off Paypal will protect me. I can't tell you how much I have scored using these methods.

 

[DLD]

You're a tricky bugger DLD.

You got to be in this day and age. Giving free advice online does not pay too well The money I am making (some of the time) is from my skill in precious metals and art

 

[8incyclops]

We're do you sell your metal? You also must have a lot if you can one day sell and buy a house

 

[DLD]

We're do you sell your metal? You also must have a lot if you can one day sell and buy a house

I usually do not sell unless I need to free up paper. Currently I hold more than enough to buy a couple of houses

 

[lexyz222]

Is this a global thing DLD, or are the markets for gold and silver different for the USA v UK?

I might start investing in precious metals. Is silver still the big thing?

 

[acer33]

I wonder if the recent banker money grab in Cyprus will have any effect on gold and silver.

The government there is just pulling 6-10 percent of peoples savings out as a tax across the board, to give it to the IMF i believe, I think it might spook depositors in the debt ridden EU and they may look to invest elsewhere, perhaps in gold.

 

[acer33]

This is what im talking about...

Keep Your Money Safe
by Stuart Wilde - March 17, 2013

...
Cyprus has gone belly up owing money to the International Monetary Fund and other global money lenders. They came up with an austerity plan but it’s not enough to satisfy the demands upon them. They have been ordered by the EU to seize 10% of the money in people’s private bank accounts. This has caused panic withdrawals from ATMs. British troops in Cyprus will be reimbursed by the British government for any losses they suffer.

Obama is passing a law that will allow the American security agencies to go into any bank account in the country, ostensibly it is a con job about money laundering, but in practice it allows the government to see who has cash that can be stolen and who hasn’t.

http://www.stuartwilde.com/2013/03/keep-your-money-safe/

 

[DLD]

Is this a global thing DLD, or are the markets for gold and silver different for the USA v UK?

I might start investing in precious metals. Is silver still the big thing?

In my opinion it is Global and the efforts you put forth should be a wide spectrum of metal collection. Remember, buying nickels and pennies is not a negative investment in any way, it will only benefit you in the future and a bank will take a house payment in pennies and nickels if need be, with no loss in face value. Silver and Gold should be seen as progressive store increases as you can afford them and when the price is down. Never sell unless there is a spike that truly benefits you. Otherwise, hold on to all metals as they will always go up in value. Currently silver is a great deal and smart to buy as much as you can. Gold, may still be overpriced at this point but it breaking $1600 brings some hope to it's future. Gold, in this scenario, is the longest investment and it ties up a lot of paper for a small amount of metal. I did not start buying gold until I had a healthy stash of silver, nickel, copper and zinc.


The global nature of this is mainly set in the nickel, zinc and copper. The reason why the US government is buying back these metals and phasing out these coins content with clad is because the metals in them are the very metals of our future, metals that create batteries and in every sense, the world is moving in this direction. Once pennies and nickels have been phased out you will see a rise in price 10x face and beyond. Look at these metals in the same way smart people saw silver in 1965! Grab it with both hands and store it like a squirrel!

 

[rakas]

Is this a global thing DLD, or are the markets for gold and silver different for the USA v UK?

I might start investing in precious metals. Is silver still the big thing?

Most commodities are denominated in $ however there are secondary markets in the UK.

Precious metals can be a good investment but like any investment you need to do enough research to know when they are cheap to buy and expensive to buy unless your sole aim is to stop your cash being liquid. Unless your trying to avoid tax then right now you want your money in cash looking for investments (provided you don't believe the economy will implode) because a lot of stock is still relatively cheap, commodities are hit and miss right now with gold overvalued but oil probably undervalued.

Silver i would avoid right now as like gold the price is relaxing as investors have more economic confidence. It's probably worth buying at under $10 if your prepared to hold long.

I wonder if the recent banker money grab in Cyprus will have any effect on gold and silver.

The government there is just pulling 6-10 percent of peoples savings out as a tax across the board, to give it to the IMF i believe, I think it might spook depositors in the debt ridden EU and they may look to invest elsewhere, perhaps in gold.

That would indeed have had a significant effect had it been a large country however Cyprus has a GDP about the size of Wales, it's nothing to worry about.

In my opinion it is Global and the efforts you put forth should be a wide spectrum of metal collection. Remember, buying nickels and pennies is not a negative investment in any way, it will only benefit you in the future and a bank will take a house payment in pennies and nickels if need be, with no loss in face value. Silver and Gold should be seen as progressive store increases as you can afford them and when the price is down. Never sell unless there is a spike that truly benefits you. Otherwise, hold on to all metals as they will always go up in value. Currently silver is a great deal and smart to buy as much as you can. Gold, may still be overpriced at this point but it breaking $1600 brings some hope to it's future. Gold, in this scenario, is the longest investment and it ties up a lot of paper for a small amount of metal. I did not start buying gold until I had a healthy stash of silver, nickel, copper and zinc.


The global nature of this is mainly set in the nickel, zinc and copper. The reason why the US government is buying back these metals and phasing out these coins content with clad is because the metals in them are the very metals of our future, metals that create batteries and in every sense, the world is moving in this direction. Once pennies and nickels have been phased out you will see a rise in price 10x face and beyond. Look at these metals in the same way smart people saw silver in 1965! Grab it with both hands and store it like a squirrel!

Pence actually costs only about 0.3p at the moment (they did change 2p's about a decade ago) however your cents are worth more than double (i assume they are made from Nickel?). Agreed with most metals.

 

[Rainbowwolfrain]

Today the price of silver (AG) has dropped again. The market closed today at $29.08, last August the price was beyond $42.00. I think we have come very close to a low for this year and I believe it is a great time to invest. If we see a peak in August, as we did last year, people could practically double their money.

If you want to learn about PM investments check out the KITCO site, they have a affluent users forum and tons of great advice.

WHY OH WHY WAS I NOT HERE IN THOSE EARLY YEARS DLD you the man

 

[DLD]

WHY OH WHY WAS I NOT HERE IN THOSE EARLY YEARS DLD you the man

When my house fire happened someone stole all of my silver and gold. That was my retirement

 

[LONGERDICK7+]

When my house fire happened someone stole all of my silver and gold. That was my retirement

Fuck Mike that's horrible . I thought I was one of the fewest here with a bad luck streak.No more bad ever.Prayers

 

[DLD]

Fuck Mike that's horrible . I thought I was one of the fewest here with a bad luck streak.No more bad ever.Prayers

Thanks

 

[LONGERDICK7+]

Thanks

Have you ever thought how is going to be your 2024

 

[DLD]

Have you ever thought how is going to be your 2024

I am not sure. I have no money and nothing in savings as it was all in gold and silver
I pray God shows me a way to survive this.

 

[LONGERDICK7+]

I am not sure. I have no money and nothing in savings as it was all in gold and silver
I pray God shows me a way to survive this.

God will help us to find a way to improve our lives now we are going through but God will not turn his back on us.. You're a gifted manThe light of God will show us where to go

 

[DLD]

God will help us to find a way to improve our lives now we are going through but God will not turn his back on us.. You're a gifted manThe light of God will show us where to go

This will all be dealt with is 6 days. God will always protect you so be sure to pray and put your faith in Jesus. The economy is so bad I can't buy silver or gold or anything else. Food, gas, energy is crippling and we need a change desperately. I promise if things work out we will all benefit to a better time.