Sunday, November 2, 2008

silver is silver

Some people believe that in order to be able to make any money off of silver that you have to buy well preserved coins or bullion or some really nice proof sets with a mirror like finish in the striking.

At one time that may have been pretty close to the truth but these days we live in a totally different world where people that are purchasing silver are doing so for a couple of reasons.

1. quick buck( retarded)
2. long term market rising(smart)

because of the shortage of silver, coin and metals dealers are charging such a high premium that it in order to brake even on your silver the market has to rise seven or eight dollars just to break even.

So I believe that for your best chance at making a profit you should buy silver in the cheapest form that you can which in most cases is 90% silver(US. quarters, dimes and halve dollars dated before 1965). you can usually get them for a pretty low premium and each dollar of face value contains .715% of an ounce of pure silver.

So in the end, when the stuff is all getting melted down to be used for one of many industrial uses, it doesn't matter how pretty it is.

No comments: