Silver!
 

So what are your thoughts on investing in silver bullion

Prices are almost at a record high, the highest was about $50
Many people think its gonna spike to around 200 per 1 oz

you're talking about bullion? like actual hard physical tangible silver?

Well I believe its better than silver certificates and some ETFs

Here's a tip for you - if the news is going crazy over it and "all the people think it's going to spike", then you've already missed the boat.

^sort of disagree. people were saying that when silver jumped from 17-18 to 28ish and now its at 37.5 right now. 50% gain in about 2 months.
other people have been forecasting 50-100+ in silver for a long time. historically silver has been at a much closer price ratio to gold and now we may just be seeing that correction.

historical data for silver and gold is going right out the window. Silver seems to be the new gold and the undervaluation of silver will no longer hold going forward. The markets are already seeing the tidal wave of silver coming in with exploration, miners and pure play companies going through the roof.

sounds like a decent investment for someone who doesn't have a shit load to spare .. but how? where to buy Silver?

Silver spot price is at $43.40 US right now. A 1 ozt normal Canadian Maples is about $45-$46 Cdn at local bullion dealers and $2 more for the special edition Canadian Maples which right now is the Grizzly Maple. J&M, Border Gold, VBCE sells them as well as most coin shops. You can also find some on craigslist but only buy from them if you are looking for a special edition Maple not sold anymore in stores because craigslist sellers' prices is always higher then the store. You can also buy rounds and bars which is a little cheaper but it's not as easy to unload when you need to as the Maples. Austria Philharmonic and Australia silver bullions (koala, kookaburra, etc.) are also easy to unload but it's hard to find them locally and if you do there's a huge premium on them. No point in buying those as it's only 99.9% fine compared to the Maples which is 99.99% fine. I would stay away from American Eagles and Chinese Pandas because there's are some fake ones out there made in China.

J&M
VBCE
Border Gold

$45-$46 in stores
http://www.oldcolonycapital.com/wp-c...er%20Maple.jpg

$47-$49 in stores 2011 Grizzly Bear
http://goldcoinsecrets.com/wp-conten...in-150x150.jpg

$49-$51 on criagslist 2011 Timber Woilf
http://goldderoyale.com.au/shopping_...1285736116.jpg

$49-$51 on craigslist 2008, 2009, 2010 Olympic
http://img859.imageshack.us/img859/6...hqehdmes6o.jpg

^ Thanks for all the infomation. Just a couple more quick questions:

- Is VBCE a reliable coin shop?

- When you mentioned rounds and bars are a little cheaper but not as easy to unload as the Maples, do you mean some coin shop would refuse to buy them back even when the shop has a listing for buying price?

thanks again for advance

VBCE is reliable but they're not a coin shop. They deal mostly with currency exchange but they also sell physical precious metals. With all bullion dealers, make sure you call ahead and ask if they have stock. Lately all of them seem to run out of stock due to demand. They say that silver goes out as fast as they can get them in.

There are so many refineries big and small that makes round and bars. Not everyone is going to recognized all of them so you might have a hard time selling them if you need cash. If you buy it from the shop and want to sell it back to them, then they should be able to buy them back no problem since they recognize it. It's just normal everyday people is not going to want a round or bar. Besides you're only saving about $1 more or less per ozt then a Maple.

I've been told that some of the banks sell pressed and certified 10 and 100 ounce bars and that's the best best place to grab them but I'm not sure which ones they are. Anyone pick up any bars?

The only Canadian bank that does that is Scotiabank but their premiums are higher then the bullion dealers. Also you can't buy from Scotiabank if you don't have a bank account with them. And if you do buy from the local bank branch, then you have to wait days maybe weeks for them to give it to you. It's not something they keep in stock like the bullion dealers.

Scotiabank

thanks again for advice :bowdown:

I will just stick with Maples coins to save the possible problem down the road ...

The Canadian Maples is more desirable due to it's fineness and can sell easily sell to anyone around the world with a huge premium :bigthumb:

So where would be the best place to go if you were to buy $10,000 in silver?

If you want physical silver then any of the above places except Scotiabank would be the best place to go. Keep in mind that if you're buy $3,000 or more in one transaction or multiple transactions in the same day at the same store, the store is required by law to report it to the government. If you want paper certificates then most of the bullion dealers also sell them or you can buy it through your brokerage account.
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What's the advantage and disadvantage of having it reported to the government?

I don't think there is any advantages. Lots of disadvantages such as the government knows you have precious metals and can recall it if they ever wanted too. You never know.

I don't know if right now is a good time to get into silver. Spot price is now $46.30us/ozt. That's a $3 increase in 3 days which is just CRAZY. And about a $7 increase since the beginning of the month. I think it's due for a correction soon but don't take my word for it.
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^ a bubby told me buying and holding Maples coins, we are just the bearer which means the government can recall them when they want ... but when we buy silver bars, we are the owner, can anyone confirm this?

i dont think any disadvantages. i bought silver bullion @ $20/ounce. so $2000 for 100oz (didn't give any id), now gov. recall silver sold at abover $3000 and not $2000 (just because they know who is buying it) doesn't make sense.

last time when i went with my friend, she was buying sil 100oz at $3500. they asked for her id. i asked the rep . do they share with govt this info. he said no. just they are required to keep info on file cause transaction is over $3k.

edit: also dont buy silv at Banks. just buy any place which will charge u least over spot price. bank is not it.

So I wake up today thinking I should go to the store and buy some silver so I check the spot price and see that it is now at $47.68 us/ozt. A $1.38us gain in ONE DAY. I'm going to pass and hope that there will be some kind of correction next week before buying.
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It's almost touching $49 us/ozt in Asian trading for Monday April 25th. I wonder how European and North American market will do today.

To the moon, silver futures up 5%

there's a guy i know trading 92 silver futures contracts, he's pulling in like a million bux a day. hahaha fuckin crazy.