Silver

The spot price for silver is between twenty-six and twenty-seven federal reserve notes per ounce, and has been there for a couple days.  In fact, it has been under thirty for the better part of six weeks.  Anyone who has been following the precious metals market for more than a few months knows that this is an open invitation to buy.  Hell, I “bought” some two years ago at thirty-seven.  Probably not so smart, but the guy owed me, and he had silver.

My PM portfolio is already silver heavy at about fifty-seven percent based on current spot prices.  It is a lot easier to come up with fifty to sixty bucks for two ounces of silver than it is to save up the better part of two C-Notes for 1/10 ounce of the yellow metal – the smallest coin commonly available.  One-gram gold bars are available for about the same as two ounces of silver, but I prefer coins.

I’ve been dabbling in precious metals for well over ten years.  Recently, I’ve been buying a little bit every month.  I’m torn at the moment.  Do I pick up a few ounces of silver now while the price is so inviting, or should I ignore the “buying opportunity”, wait another payday and get a $5 Eagle like I had planned?  Or do I wait a little longer and get a gold quarter Eagle, getting a better cost-to-weight value as compared to the smaller 1/10?

Decisions, decisions.

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2 Responses to Silver

  1. Wraith says:

    As long as it’s :

    1) In your PHYSICAL POSSESSION, not a ‘certificate,’

    2) In small enough denominations to use in real-world barter and trade(no one’s making change for a 1-lb gold ingot for a gallon of gas or a box of ammo), and

    3) Not traceable back to you by any records(remember, FDR jacked our gold last time around),

    then it’s all good.

    • alaskan454 says:

      Thanks for stopping by!

      1) Absolutely

      2) The only silver I have is in one ounce coins (I am considering fractional silver via pre-’65 “junk silver” but haven’t bought any yet) and 1/10th ounce gold

      3) Since I buy through a non-local dealer, which involves shipping, it could be traceable, but I don’t make it easy – cash for money order mailed to dealer, not payment via debit card

      So how am I doing?

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