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This is what I am talking about. I don't mind investing in silver, but why do I have to be the 25-30% behind before I even start. I think you are right, it is a scam.Originally Posted by kidicarus13
No, it's not a scam any more than the grocery store is a scam, Home Depot, the car dealer, the gun shop, or the farmer with a vegetable stand is a scam - buy any of those items today and try to sell them tomorrow for exactly what you paid for them today. You don't get to buy other retail things at wholesale, why should PM's be different: the dealers have lights to keep on and space to rent, if they sell it to you at $20, and buy it back from you at $20, how are they supposed to keep the store open?
If you bought a case (5,000rds) of .22 ammo in January of 2012 for $200, you couldn't sell it back to the vendor the next day for $200. However, if you saved that case until January of 2013, you could have very easily sold it for $600. Now, would buying a case for $200 that I couldn't flip the next day for $200 be a scam? or would waiting 12 months and flipping it for 3X what I paid simply be construed as gouging?
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Sawin - Feedback thread.
LOL. Silver like your mortgaged house are not investment. All appreciating items are leverage against the USD. A great example was during the melt down... gas price was skyrocketing.. Your USD dropped in value. Meanwhile I used a monster box of American eagle to purchase one of the rental condos. (2009 a box of silver was $4750.. Post melt down was $23000.)
Now the clear and free condo is my own lil money printing machine which returned my initial cost of $4750 within 10 months.
Hatidua explained it very well on the mark up part.
The silver I bought in 2006 for $4 is now worth over 500% what I paid for it. As the mortgage meltdown approached it kept climbing and peaked near $50 an ounce. I have some silver I paid $30 for. Truth is I bought something I hope I never have to use. So yes, some of my silver is worth 30% less than I paid, but I can almost guarantee you that 10 years from now, I will be way ahead financially. It is not something I bought planning to sell next week. And as for trading for real goods, I see all the time "will trade for precious metals".
Last edited by BushMasterBoy; 10-15-2013 at 16:05.
i understand where you're coming from.
For instance, spot is 21, the markup is 5.50 for 26.50 and then add 10% sales tax for a grand total of 29.15
I think spot will go above 30, I just don't know when.
Last edited by roberth; 10-16-2013 at 08:50.
Like I've said before, and some of you already get it, I'm buying physical PM's along with useful goods and learning practical skills, as an insurance policy... all of this could turn out to be a positive investment at some point in my life, or it could turn out to be a bad one, but either way, I have at least some form of "wealth security" beyond the dollars in my bank... that's all it is.
If you bought an ounce of silver for $25 this week, would you miss the $25? Would your budget suffer? If so, don't buy it... if you wouldn't miss it and still eat well, and would spend that $25 on something else with zero tangible value, then I would ask "why not?".
Last edited by Sawin; 10-16-2013 at 10:48. Reason: typo
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Sawin - Feedback thread.
I should not have used the word SCAM, I don't believe it's a scam per se. I just don't see other investments losing 25-30% off the top when you invest in them. PMs are for some and not others and I'm glad we all have choices.
Last edited by kidicarus13; 10-16-2013 at 11:01.
Lessons cost money. Good ones cost lots. -Tony Beets
Maybe because it's not an investment?
So gold is not an investment? Your goal is not to make money (or lose less "value") when you buy physical gold? I must know more!Maybe because it's not an investment?
Lessons cost money. Good ones cost lots. -Tony Beets
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