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geekhack Community => Other Geeky Stuff => Topic started by: cmadrid on Sat, 25 July 2015, 11:51:33

Title: Does anyone buy silver?
Post by: cmadrid on Sat, 25 July 2015, 11:51:33

Just wondering if anyone else has been (or thinking about) buying silver lately.. Spot prices for silver are something like 14.50 an ounce, but I haven't been able to find anywhere you can actually buy silver for that price.

I picked up a few silver eagles for $19 each tho.  At least there is no sales tax on buying money in MO.

Title: Re: Does anyone buy silver?
Post by: absyrd on Sat, 25 July 2015, 12:15:44

I invested in gold a while back. My toof crumbled and I went with Au. Now my mouth is much more rich than it was when I first got it.

Title: Re: Does anyone buy silver?
Post by: cmadrid on Sat, 25 July 2015, 12:32:18

Golden teeth ftw!  Better than mercury teeth

Title: Re: Does anyone buy silver?
Post by: fohat.digs on Mon, 27 July 2015, 11:51:13

Silver is about 20x more abundant than gold in the planet.

Down through history, the relationship in prices was in roughly that ratio.

In recent years, since the early-1980s precious metals insanity, gold prices have skyrocketed while silver has not followed at nearly the same rate.

So, yes, at 1/50th the price of gold, silver is a bargain.

Title: Re: Does anyone buy silver?
Post by: CPTBadAss on Mon, 27 July 2015, 12:26:02

I want gold. I guess silver is ok but I'm about those gold bars.

Title: Re: Does anyone buy silver?
Post by: nubbinator on Mon, 27 July 2015, 15:51:18

S'all 'bout dat platinum CPT.

Title: Re: Does anyone buy silver?
Post by: GL1TCH3D on Mon, 27 July 2015, 16:03:57

I buy silver coins from work

Title: Re: Does anyone buy silver?
Post by: telnet on Mon, 27 July 2015, 17:41:04

This was two years ago when I was into trading silver.
Pen for scale.

(https://i.imgur.com/4BxMqbi.jpg)

Title: Re: Does anyone buy silver?
Post by: jdcarpe on Mon, 27 July 2015, 18:15:11

Quote from: telnet on Mon, 27 July 2015, 17:41:04

This was two years ago when I was into trading silver.
Pen for scale.

Show Image

(https://i.imgur.com/4BxMqbi.jpg)

That's cool, but what do you do with a $1500-2000 bar of silver? Not many day-to-day purchases at that amount. :)

Title: Re: Does anyone buy silver?
Post by: CPTBadAss on Mon, 27 July 2015, 18:46:31

Quote from: jdcarpe on Mon, 27 July 2015, 18:15:11

Quote from: telnet on Mon, 27 July 2015, 17:41:04

This was two years ago when I was into trading silver.
Pen for scale.

Show Image

(https://i.imgur.com/4BxMqbi.jpg)

That's cool, but what do you do with a $1500-2000 bar of silver? Not many day-to-day purchases at that amount. :)

Keep it in a sock next to a safe near your bed. You think soap hurts? Try bar of silver in a sock. And then you can sell it for moneys. It's genius really.

Title: Re: Does anyone buy silver?
Post by: telnet on Mon, 27 July 2015, 18:58:08

Quote from: jdcarpe on Mon, 27 July 2015, 18:15:11

Quote from: telnet on Mon, 27 July 2015, 17:41:04

This was two years ago when I was into trading silver.
Pen for scale.

Show Image

(https://i.imgur.com/4BxMqbi.jpg)

That's cool, but what do you do with a $1500-2000 bar of silver? Not many day-to-day purchases at that amount. :)

Think of it this way, GH and artisian caps, such as clacks, are mainly well know by keyboard enthusiasts.  Regular people have no idea GH exists, nor would they understand why a person would buy a clack $500+.

Similar is with physical bullion, if you're in the know, you know traders and where the physical bullion exchanges are.
Such a bar is nothing special at those places. 

I bought the physical bars mainly for fun, stuck it in the bank, waited for the price to go up, then sold it. 

Title: Re: Does anyone buy silver?
Post by: cmadrid on Mon, 27 July 2015, 19:10:44

Nice bars!  I just have a few 1 oz silver eagles myself..

Title: Re: Does anyone buy silver?
Post by: GL1TCH3D on Mon, 27 July 2015, 20:20:19

Quote from: telnet on Mon, 27 July 2015, 18:58:08

Quote from: jdcarpe on Mon, 27 July 2015, 18:15:11

Quote from: telnet on Mon, 27 July 2015, 17:41:04

This was two years ago when I was into trading silver.
Pen for scale.

Show Image

(https://i.imgur.com/4BxMqbi.jpg)

That's cool, but what do you do with a $1500-2000 bar of silver? Not many day-to-day purchases at that amount. :)

Think of it this way, GH and artisian caps, such as clacks, are mainly well know by keyboard enthusiasts.  Regular people have no idea GH exists, nor would they understand why a person would buy a clack $500+.

Similar is with physical bullion, if you're in the know, you know traders and where the physical bullion exchanges are.
Such a bar is nothing special at those places. 

I bought the physical bars mainly for fun, stuck it in the bank, waited for the price to go up, then sold it.

Except that precious metals are inherently valuable and artisans have artistic value.

A regular person I'd assume would understand that a bar of gold is worth quite a bit.

Anyway still cool

Title: Re: Does anyone buy silver?
Post by: tp4tissue on Mon, 27 July 2015, 21:04:29

why would you guys bother... they got the digital version..  boom.. you're rich.. boom you're poor..

Save you the gas money of running around.

Title: Re: Does anyone buy silver?
Post by: GL1TCH3D on Mon, 27 July 2015, 21:19:14

Quote from: tp4tissue on Mon, 27 July 2015, 21:04:29

why would you guys bother... they got the digital version..  boom.. you're rich.. boom you're poor..

Save you the gas money of running around.

Except that precious metals will always be valuable in almost any society.

For thousands of years humans have been obsessed with shiny metal.

It's very unlikely that we'll suddenly stop valuing it.

Unless of course you mean gambling in which case that's not really an investment.

Title: Re: Does anyone buy silver?
Post by: Dr. Drats on Mon, 27 July 2015, 21:19:36

I actually just got 10 1oz silver maple leafs today. 17 a piece.

Title: Re: Does anyone buy silver?
Post by: Hak Foo on Mon, 27 July 2015, 22:26:14

I like my silver with more of a theme to it...
(http://i.imgur.com/aEEnbMm.jpg)

Working my way through a type set of Veiled Head (1893-1901) coinage. Just need the two larger gold pieces and the Maundy coinage... so in other words, anyone wanna buy a Kia?

Title: Re: Does anyone buy silver?
Post by: heedpantsnow on Mon, 27 July 2015, 22:33:08

A few years ago we would buy silver dollas from the mint. Over $100 was free shipping, charge to card, no fee. Collect the miles/points; deposit coins to pay card bill. Could manufacture around ~3k points per month without raising eyebrows.

Went on vacation for several years totally free on those points!

Title: Re: Does anyone buy silver?
Post by: telnet on Mon, 27 July 2015, 22:41:21

Quote from: tp4tissue on Mon, 27 July 2015, 21:04:29

why would you guys bother... they got the digital version..  boom.. you're rich.. boom you're poor..

Save you the gas money of running around.

Very true, but in my case some of the mining offices, one of the bullion exchanges, and my bank were all within a 15 minute walk.
I would go there to stretch my legs and grab a coffee on the way back to the office.

Also the bars make for great paper weights.  :thumb:

Title: Re: Does anyone buy silver?
Post by: tp4tissue on Tue, 28 July 2015, 13:39:45

Quote from: GL1TCH3D on Mon, 27 July 2015, 21:19:14

Quote from: tp4tissue on Mon, 27 July 2015, 21:04:29

why would you guys bother... they got the digital version..  boom.. you're rich.. boom you're poor..

Save you the gas money of running around.

Except that precious metals will always be valuable in almost any society.

For thousands of years humans have been obsessed with shiny metal.

It's very unlikely that we'll suddenly stop valuing it.

Unless of course you mean gambling in which case that's not really an investment.

Well, you're right that people value gold and silver metals.. but it is very possible that we could suddenly stop valuing it,  because it's actually in abundance on earth..

The reason they're valued at all is because RICH PEOPLE SAYS SO....  the people who closely influence the money supply..


SO the entire concept of PRECIOUS is actually the product of governance rather than an inherent property of said material.

Title: Re: Does anyone buy silver?
Post by: Axollott on Tue, 28 July 2015, 14:33:49

There is a mexican millionaire that has been promoting silver as a more secure way to store money that fiat currencies. He sells coins in his bank but I've been distracted in other stuff to research if it's indeed a more secure and/or better way to store money. I've been saving in dollars since some years and with the recent increase in exchange rates I have about 20% more these days. I'm still wondering when I should sell them.

Title: Re: Does anyone buy silver?
Post by: telnet on Tue, 28 July 2015, 14:48:45

Quote from: Axollott on Tue, 28 July 2015, 14:33:49

There is a mexican millionaire that has been promoting silver as a more secure way to store money that fiat currencies. He sells coins in his bank but I've been distracted in other stuff to research if it's indeed a more secure and/or better way to store money. I've been saving in dollars since some years and with the recent increase in exchange rates I have about 20% more these days. I'm still wondering when I should sell them.

That mainly makes sense in a global context where you don't have a stable currency. 
If you earn and spend your money locally then you have to consider the price of silver and the buying power it has against your local currency.
Just look at a 10 year silver chart, it's not flat, it changes based on the market.  http://www.kitco.com/charts/popup/ag3650nyb.html (http://www.kitco.com/charts/popup/ag3650nyb.html)

The question of when to sell is one that all traders ask themselves.  There is no perfect time to sell, you never know what will happen.