Post: #1

I've noticed there are some serious investors on the site so I was curious what your opinions on precious metals are.

I'm extremely ambivalent about gold because its seems like its super over-valued with everyone and their mom praising it/selling it. Everyone saying it can't fail etc. But at the same time, It does seem like its only going to go up in the future (as long as Uncle Sam keeps printing away). Maybe this explains all the volatility of late.

I think it would be cool to own some physical gold bullion, but unfortunately, I'm not rich yet and could only buy a few Ozs.

Silver on the other hand, you can get tons of coins. Does anybody see Silver dipping back to ~$25 or gold dipping back to ~1500? I'd like to buy some.

I've got 3k in a platinum ETF, mostly on a whim, and b/c its selling for less than gold.

Post: #2

(02-07-2012 02:22 AM)_DC_ Wrote:  I've noticed there are some serious investors on the site so I was curious what your opinions on precious metals are.

I'm extremely ambivalent about gold because its seems like its super over-valued with everyone and their mom praising it/selling it. Everyone saying it can't fail etc. But at the same time, It does seem like its only going to go up in the future (as long as Uncle Sam keeps printing away). Maybe this explains all the volatility of late.

I think it would be cool to own some physical gold bullion, but unfortunately, I'm not rich yet and could only buy a few Ozs.

Silver on the other hand, you can get tons of coins. Does anybody see Silver dipping back to ~$25 or gold dipping back to ~1500? I'd like to buy some.

I've got 3k in a platinum ETF, mostly on a whim, and b/c its selling for less than gold.

Respectfully, most of those questions have been answered already. Just do a thread search for "precious metals". Here is a previous thread:

/thread-3759.html

here is another perspective: /thread-6727.html

.
Good hunting to you.

Post: #3

(02-07-2012 08:16 AM)Entropy Wrote:  

(02-07-2012 02:22 AM)_DC_ Wrote:  I've noticed there are some serious investors on the site so I was curious what your opinions on precious metals are.

I'm extremely ambivalent about gold because its seems like its super over-valued with everyone and their mom praising it/selling it. Everyone saying it can't fail etc. But at the same time, It does seem like its only going to go up in the future (as long as Uncle Sam keeps printing away). Maybe this explains all the volatility of late.

I think it would be cool to own some physical gold bullion, but unfortunately, I'm not rich yet and could only buy a few Ozs.

Silver on the other hand, you can get tons of coins. Does anybody see Silver dipping back to ~$25 or gold dipping back to ~1500? I'd like to buy some.

I've got 3k in a platinum ETF, mostly on a whim, and b/c its selling for less than gold.

Respectfully, most of those questions have been answered already. Just do a thread search for "precious metals". Here is a previous thread:

/thread-3759.html

here is another perspective: /thread-6727.html

.
Good hunting to you.

Thanks. Sorry, didn't even bother searching :\

Post: #4

Buy only physical gold and silver.

Post: #5

(02-07-2012 02:51 PM)Raoul Wrote:  Buy only physical gold and silver.

Indeed. If you can't hold it, you don't own it.

Post: #6

For real, I've just been waiting for my opportunity to buy. I think the American Eagle bullion coins are really cool and it'd be nice to have something in hand as opposed to seeing just stock numbers. Obviously the plan for holding physical is keeping them for a while. There is no point paying 80 over spot (in the case of gold) only to sell them right back. I've just been waiting for the next dip. The links above are good general advice but I just wanted some opinions on if Silver and Gold will go down again in the next few months to give me my window.

Does anybody have any opinions on also buying for possible numismatic reasons? E.g.

Mintage 1997: 4,295,004
Price: $42.69

vs.

Mintage 2010: 34,764,500
Price: $38.68

It seems like it is well worth the extra cash to pay get a 1997 coin that is almost 10x as rare. Also, I'd like to figure that many of those 1997 coins are no longer in brilliant uncirculated (which is how they're being sold).

Post: #7

(02-07-2012 09:38 PM)_DC_ Wrote:  For real, I've just been waiting for my opportunity to buy. I think the American Eagle bullion coins are really cool and it'd be nice to have something in hand as opposed to seeing just stock numbers. Obviously the plan for holding physical is keeping them for a while. There is no point paying 80 over spot (in the case of gold) only to sell them right back. I've just been waiting for the next dip. The links above are good general advice but I just wanted some opinions on if Silver and Gold will go down again in the next few months to give me my window.

Does anybody have any opinions on also buying for possible numismatic reasons? E.g.

Mintage 1997: 4,295,004
Price: $42.69

vs.

Mintage 2010: 34,764,500
Price: $38.68

It seems like it is well worth the extra cash to pay get a 1997 coin that is almost 10x as rare. Also, I'd like to figure that many of those 1997 coins are no longer in brilliant uncirculated (which is how they're being sold).

If you are interested in investing in silver and or gold do not buy american eagles they are too expensive and treated only a little over spot. What I do is buy sterling silver from different sources and hold on to them in that form. This way, I can buy larger amounts at spot price or below. If you want to know more message me.

Post: #8

(02-08-2012 09:26 AM)chairman Wrote:  

(02-07-2012 09:38 PM)_DC_ Wrote:  For real, I've just been waiting for my opportunity to buy. I think the American Eagle bullion coins are really cool and it'd be nice to have something in hand as opposed to seeing just stock numbers. Obviously the plan for holding physical is keeping them for a while. There is no point paying 80 over spot (in the case of gold) only to sell them right back. I've just been waiting for the next dip. The links above are good general advice but I just wanted some opinions on if Silver and Gold will go down again in the next few months to give me my window.

Does anybody have any opinions on also buying for possible numismatic reasons? E.g.

Mintage 1997: 4,295,004
Price: $42.69

vs.

Mintage 2010: 34,764,500
Price: $38.68

It seems like it is well worth the extra cash to pay get a 1997 coin that is almost 10x as rare. Also, I'd like to figure that many of those 1997 coins are no longer in brilliant uncirculated (which is how they're being sold).

If you are interested in investing in silver and or gold do not buy american eagles they are too expensive and treated only a little over spot. What I do is buy sterling silver from different sources and hold on to them in that form. This way, I can buy larger amounts at spot price or below. If you want to know more message me.

Can you break this down a little more?

Post: #9

I started a small business while a Freshman in high school where I would go to estate sales that were advertising sterling silver and gold jewelry from craigslist. Because estate sales want to get rid of their inventory in a 2-3 day span the people there are willing to sell gold and silver for scrap and or lower therefore giving you a supply of extremely cheap metal commodities. Normally, I can get around 20% lower than scrap value because everyone knows me (there are usually only 4-5 estate sale companies per area) and I was willing to pay fully in cash. With about 3-4 estate sales a week, you can easily find 400 oz of sterling silver and 10 oz of gold per month. Usually I do not hold the silver for long and try to make money off the margins. I send my stuff to a refinery (http://www.northernrefineries.com/) where I get 91% of the scrap (for gold it is like 97%) amount so normally I will make around 10-12% of the scrap value of the silver so around 400 dollars a week. This is just my idea though, one can easily just stockpile the silver and gold and sell after 6 months or so. The major issue with this plan is that it requires you to live in a large metropolitan area for there to be enough of quality sales each week. I live in the Bay area so, I have access from San Fran to San Jose.

Post: #10

(02-09-2012 05:00 PM)chairman Wrote:  I started a small business while a Freshman in high school where I would go to estate sales that were advertising sterling silver and gold jewelry from craigslist. Because estate sales want to get rid of their inventory in a 2-3 day span the people there are willing to sell gold and silver for scrap and or lower therefore giving you a supply of extremely cheap metal commodities. Normally, I can get around 20% lower than scrap value because everyone knows me (there are usually only 4-5 estate sale companies per area) and I was willing to pay fully in cash. With about 3-4 estate sales a week, you can easily find 400 oz of sterling silver and 10 oz of gold per month. Usually I do not hold the silver for long and try to make money off the margins. I send my stuff to a refinery (http://www.northernrefineries.com/) where I get 91% of the scrap (for gold it is like 97%) amount so normally I will make around 10-12% of the scrap value of the silver so around 400 dollars a week. This is just my idea though, one can easily just stockpile the silver and gold and sell after 6 months or so. The major issue with this plan is that it requires you to live in a large metropolitan area for there to be enough of quality sales each week. I live in the Bay area so, I have access from San Fran to San Jose.

Wow.

I am impressed.

Pure hustler.

Post: #11

(02-09-2012 05:04 PM)thegmanifesto Wrote:  

(02-09-2012 05:00 PM)chairman Wrote:  I started a small business while a Freshman in high school where I would go to estate sales that were advertising sterling silver and gold jewelry from craigslist. Because estate sales want to get rid of their inventory in a 2-3 day span the people there are willing to sell gold and silver for scrap and or lower therefore giving you a supply of extremely cheap metal commodities. Normally, I can get around 20% lower than scrap value because everyone knows me (there are usually only 4-5 estate sale companies per area) and I was willing to pay fully in cash. With about 3-4 estate sales a week, you can easily find 400 oz of sterling silver and 10 oz of gold per month. Usually I do not hold the silver for long and try to make money off the margins. I send my stuff to a refinery (http://www.northernrefineries.com/) where I get 91% of the scrap (for gold it is like 97%) amount so normally I will make around 10-12% of the scrap value of the silver so around 400 dollars a week. This is just my idea though, one can easily just stockpile the silver and gold and sell after 6 months or so. The major issue with this plan is that it requires you to live in a large metropolitan area for there to be enough of quality sales each week. I live in the Bay area so, I have access from San Fran to San Jose.

Wow.

I am impressed.

Pure hustler.

Thanks man, just trying to get the money to get from under my parents.

Post: #12

(02-09-2012 05:06 PM)chairman Wrote:  

(02-09-2012 05:04 PM)thegmanifesto Wrote:  

(02-09-2012 05:00 PM)chairman Wrote:  I started a small business while a Freshman in high school where I would go to estate sales that were advertising sterling silver and gold jewelry from craigslist. Because estate sales want to get rid of their inventory in a 2-3 day span the people there are willing to sell gold and silver for scrap and or lower therefore giving you a supply of extremely cheap metal commodities. Normally, I can get around 20% lower than scrap value because everyone knows me (there are usually only 4-5 estate sale companies per area) and I was willing to pay fully in cash. With about 3-4 estate sales a week, you can easily find 400 oz of sterling silver and 10 oz of gold per month. Usually I do not hold the silver for long and try to make money off the margins. I send my stuff to a refinery (http://www.northernrefineries.com/) where I get 91% of the scrap (for gold it is like 97%) amount so normally I will make around 10-12% of the scrap value of the silver so around 400 dollars a week. This is just my idea though, one can easily just stockpile the silver and gold and sell after 6 months or so. The major issue with this plan is that it requires you to live in a large metropolitan area for there to be enough of quality sales each week. I live in the Bay area so, I have access from San Fran to San Jose.

Wow.

I am impressed.

Pure hustler.

Thanks man, just trying to get the money to get from under my parents.

Very....good idea!

I will have to use that!

Post: #13

Ruthenium and Rhodium are also hot commodities. I don't have anything invested in this because precious metals are not my forte, even though my Ph.D. thesis involved several of them.

Post: #14

(02-10-2012 02:15 PM)at350zguyy Wrote:  Ruthenium and Rhodium are also hot commodities. I don't have anything invested in this because precious metals are not my forte, even though my Ph.D. thesis involved several of them.

Unfortunately I can't find a US ETF of Rhodium. You can buy physical Rhodium but its a "sponge". If it was a cool coin I'd be all about it.