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ehhhh, that is the general consensus lol. i mean, it all sounds logical, so...
on a side note, i have always liked buying small amounts of gold, and slowly building up a collection. although i do constantly check prices like a crazy person xD!, in the long run, regardless how much you are spending each time, it is still a "safe" thing to do.
my grandfather used to buy 1oz of gold for himself every year of his life as a reward to himself. each year gold went up in price, and he still buys 1oz regardless. looking back now, he still made a huge profit (if you're doing this for that reason ;p)
EDIT: i also look at it this way. a few years ago when the economy was still a bit better, i invested into BMO's GIC. after 2 years, my 5000$ turned into 5400. now you wont get that much for 5000$. however, if i had bought 5000$ worth of gold, i would probably had ended up with over 6000$ after 2 years. it really depends how you want to look at it, as a short term investment? like the GIC, or a long term investment like my grandfather.
What's your outlook on bullion in the mid-term (3-5 years)?
I'm predicting that gold will double and silver will triple.
I think the endgame of the current Euro financial crisis will be another Lehman Brothers moment in either Europe or America and we will see another financial crisis similar to what happened in 2008. But this time it's going to be a whole lot bigger because since then the banks have only gotten bigger (thus adding more systemic risk) and the central banks of the world are saddled with unprecedented debt from previous bailouts and stimulus packages. I think when this crisis comes, investors will rush to precious metals because the US dollar and US treasury notes will no longer be seen as safe. This is when the price of gold and silver will skyrocket. Your thoughts?
I think gold and silver are solid long term investments, they will continually appreciate in value indefinitely as demand increases and resources become more difficult to access. In the 3-5 year term however, 200-300% gains are very optimistic, imo. The market for gold and silver spiked during the initial stages of the recession with nervous investors running towards a safe asset and seeing as no market has entirely recovered, and arguably the recession hasn't even ended, a lot of the money that will be put into gold is already there. Not that more money won't flow in as the market becomes more unstable, but I don't think it will more significant than 100% for gold and maybe 150% for silver. I have a fair bit tied up in silver, so hopefully you're right and I'm wrong.
I'm more bullish on silver than on gold because I think there is already (and has always) been a lot of interest in gold as a preserver of wealth (gold has been used as money for 5000 years). And as more and more people learn about the destructive effects of massive money printing by the central banks, more and more people will start to get into gold.
As this process unfolds, the price of gold will become "unreachable" to many/most average investors. When this happens, I believe that these investors will start to pile up on silver because (imo) silver is the "poor man's gold." And as Im sure all of you know, when everyone starts to "get in" on the "greatest investment of the decade" thats when prices start to soar and prudent investors will start to sell.
Also, silver is one of the most useful commodities in the world. Silver is used in computers, cellphones, solar panels etc. And I think the demand for these products can only grow whereas silver is a finite resource. This is a lethal combination for long-term investors.
Look like you got the silver bug. If you wait till next week or so, VBCE and most bullion dealers will have the 4th coin in the wildlife series maple leaf available. I usually like to buy a tube of these but only when the price of silver is low enough for me. You might still be able to find some of the 3rd coins in the series at the bullion dealers. http://www.mint.ca/store/news/newest...About+the+Mint
Look like you got the silver bug. If you wait till next week or so, VBCE and most bullion dealers will have the 4th coin in the wildlife series maple leaf available. I usually like to buy a tube of these but only when the price of silver is low enough for me. You might still be able to find some of the 3rd coins in the series at the bullion dealers. http://www.mint.ca/store/news/newest...About+the+Mint
Thanks for the heads up snoop!
Yea! I am definitely a silverbug. I think will triple in 3-5 years so Im buying as much as I can now.
How many coins are in a tube? And is there a discount buying in tubes? Thanks.
A RCM tube holds 25 coins. There's usually no discount when buying the wildlife series in tubes but there is when you buy 2 tubes of regular maple leafs but not much discount though. Wildlife tubes come with blue lids and regular tube comes with yellow lids.
And if you have money laying around get a Kilo Coin from the Perth Mint
A RCM tube holds 25 coins. There's usually no discount when buying the wildlife series in tubes but there is when you buy 2 tubes of regular maple leafs but not much discount though. Wildlife tubes come with blue lids and regular tube comes with yellow lids.
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Quote:
Originally Posted by Ulic Qel-Droma
lol did u pull the trigger? i didn't... sigh, sorta wish i did now. shoulda shorted silver futures on the daily chart. woulda made a nice %.
Ha I didn't realise how long it's been since I checked this thread. Can't remember if I did but if I made a comment on it, I probably did well that day. This thread's gotten a lot more active
Some interesting pieces of information from titans of the industry (James Turk of Goldmoney.com, Eric Sprott (billionaire) and founder of Sprott Asset Management, et al):
The historical price ratio between silver and gold for hundreds of years has been about 16:1. This is so because this is roughly the ratio of silver to gold present on planet earth.
At this moment, silver and gold is trading at roughly 50:1, so silver is tremendously undervalued. To add to this anomaly, silver is immensely more valuable as an industrial metal than is gold (silver is used in computers, cell phones, solar panels, etc.). So technically, silver should be trading at ratios even lower than 16:1.
James Turk, Eric Sprott and many other very brilliant people assert that the central banks of the world have been manipulating the gold and silver market for years-trying to keep their value low relative to their respective currencies. And because silver is a relatively small market, they (the central bankers) are trying to keep the price of silver depressed as to indirectly keep the price of gold down. But in doing this, the central banks (and their affiliates, ie. Wall Street banks) are hemorrhaging massive amounts of money on their shorts. Eric Sprott et. al. assert that this artificial manipulation of the gold/silver markets cannot be sustained because it's getting way to expensive and they (the central banks) will eventually throw in the towel. And when this happens, both gold and silver will soar and the historical price ratio of silver to gold @ 16:1 will return. In today's dollars, that would make silver worth $107 per ounce.
^interesting! i heard of something similar before, but i heard silver was closer to gold than 16:1. either way, same theory. silver SHOULD be worth more than it is. and when the correction happens, silver should shoot up like crazy!
hope you guys all the best of luck! i am a Gold fanboy though, i dont really buy silver. i just buy gold... maybe i should though eh? lol ;D
there is another thread for $20 canadian coins (1/4oz) with a face value of $20
seems like a decent deal considering you cant lose money even if silver tanks
then again you lose out to annual inflation until silver prices hit over $80/oz
Does anyone know how the Canadian government views bullion? There must be some reason that there is no tax on bullion (I am guessing because it is considered "money"). But if it's money, then why does one have to pay capital gains on "money?"
Money making money still gets taxed. Of course there'd be no tax if u started buying stuff in gold straight up.
Quote:
Originally Posted by LIKEABOSS
Does anyone know how the Canadian government views bullion? There must be some reason that there is no tax on bullion (I am guessing because it is considered "money"). But if it's money, then why does one have to pay capital gains on "money?"
Lets just say I called today regarding the 20$ face value on the canoe coin and it's already selling at 23$.
Quote:
Originally Posted by Synarchist
there is another thread for $20 canadian coins (1/4oz) with a face value of $20
seems like a decent deal considering you cant lose money even if silver tanks
then again you lose out to annual inflation until silver prices hit over $80/oz
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