Any precious metals folks on here?

[jakedaawg]

I am interested in investing in silver.

Where can a guy go to educate himself about such investments?

Not sure I trust the folks that sell it. Also not sure if its wise to buy at a time when they are advertising selling.

Where do you find out about the things that make the price go up and down. Things like production costs and different demands?

There must be a good honest read somewhere and I just dont know enough to know what I don't know.

 

[MTboatguy]

I just started paying attention to the market when I started, I watched bid price, going price and what the local dealers were charging above spot

Kitco is a good website to learn a lot about precious metals on, one thing I don't do is buy coins, I only buy bullion, the extra costs of minted coins is often times hard to recover unless there is a massive jump in spot price. Most precious metals are actually pretty stable right now because the economy is doing so well. If the economy goes downhill, prices will go up, and it will go the other way if it continues to get better.

But this website is a good one to do research on and they are honest people.

https://www.kitco.com/charts/livesilver.html

 

[dwco5051]

How much money could you afford to lose and not want to jump off a bridge. That should be the first thing to think about before investing in any commodity. . Agree with MT stay away from coins unless you enjoy collecting and seeing them in a display case in your den. I sold some silver in late Jan of 1980 because I needed cash for an emergency at close to 25 dollars (which would be about 75 in today's dollars). Shortly before that it reached around 49.50 in 1980 dollars. Options, futures, and commodity trading is not for the faint of heart.

 

[aspeck]

It is risky if you are doing the large commodity lot deal. If you are talking about buying coin, bullion, or other form, that isn't as bad. The guys above don't like coin, but coin give you 2 chances to grow in value ... the coin itself and the precious metal in the coin. But that means it also has 2 ways to decrease in value. I have done decently with coin, although that is looking at the value of coin, not the actual sale of coin (I don't like to sell shiny or floaty things after I buy them! LOL!). Wall Street Journal and on line you can follow and track the trends of the different commodities. Keep looking that the news coming from the countries that are the major producers of those countries. I like coins because I can buy a little at a time. I was able to get some gold Krugerrand several years ago ... they have appreciated nicely since their purchase.

 

[gm280]

All I can say, and this is a secret so don't tell everybody, buy low sell high. But keep that info under your hat... :gossip: