Bought a silver paper weight.

[Hugo Drax]

They look really neat. plus its a nice paperweight that has some intrinsic value.

http://www.geiger-edelmetalle.com

Anyhow Silver and gold have taken a massive hit, I wonder how all the gold/silverbugs who plowed money into these investments must feel seeing the prices plummet to a point where now you can buy them and use them as paperweights in the office.

 

[brianmanahan]

how much over spot did you have to pay?

 

[SKORPI0]

http://www.apmex.com/product/78284/10-oz-silver-bar-geiger-security-line-series


About $178 for the 10 oz. bar.

Product Details
As low as $1.79 per oz over spot!

Qty ------------ Check--------CC
1 - 19-------- $171.00---- $177.84
20 - 44------- $169.00---- $175.76
45 or more--- $167.00---- $173.68 -

This 10 oz. Platinum bar is about $11k. :\

 

[Imp]

I want one... Not because I think gold or silver will help me in the coming apocalypse, aside from paying the gondola captain, but because it's so cool.

 

[brianmanahan]

eh, i prefer to get ancient coins instead. they cost way more for the silver though.

gold ancients are actually much closer to actual gold prices.

 

[Hugo Drax]

I want one... Not because I think gold or silver will help me in the coming apocalypse, aside from paying the gondola captain, but because it's so cool.

they do look cool. buy it for the novelty factor. but you would be paying 2.92 over spot if you buy 1 or 2 on credit card.

you are definitely paying over spot. The funny thing is not too long ago people were paying 230 dollars for that same bar. at APMEX

I ordered two of them for paper weights. I guess technically this is an office supply so it should be tax deductible as a paperweight not an investment. :biggrin:

 

[ImpulsE69]

I don't understand this mentality. At some point prices are more than likely to go up right? It's not really different than stocks or 401k's in terms of going for the long haul, not the short haul.

Or am I missing something? Has everyone turned to the must flip quick fast cash now?

 

[Imp]

eh, i prefer to get ancient coins instead. they cost way more for the silver though.

gold ancients are actually much closer to actual gold prices.

With how much the ancients loved to use lead in everything (not just for transmuting lead to gold), I'd be wary of using anything pre-1995.

 

[Hugo Drax]

I don't understand this mentality. At some point prices are more than likely to go up right? It's not really different than stocks or 401k's in terms of going for the long haul, not the short haul.

Or am I missing something? Has everyone turned to the must flip quick fast cash now?

The problem with physical PM as an investment is the wide bid/ask spread and the liquidity compared to the SPY ETF for example.

Also metals have a carry cost associated with as well.

With something like the SPY ETF you are investing is a very liquid much lower risk investment that will provide better returns over time. Also you can hedge easy against risk via collars, straight long put positions or just selling OTM calls to collect some risk premium for holding the ETF. That way you collect dividends and call premiums.

PM is a musical chairs investment, you are trying to find a greater fool willing to pay more for some inert metal than you did and of course hope that when the music stops you have a chair to sit on.


Now if you do want to invest in it for some reason, I would not recommend more than .3% of your entire investment portfolio in PM's

 

[Spungo]

I think it would be nice if more people were interested in gold and silver. People seem to be genuinely shocked to learn that their comic book collection and old baseball cards are worth nothing. That doesn't really happen with gold and silver. I inherited a bunch of silver dollars from my dad after he died, and a rough calculation determined that these silver dollars contained about $500 worth of scrap silver. That's actually a terrible return when compared to an investment like owning shares of Disney or Coca Cola, but it's still a hell of a lot better than a stupid baseball card. In the mean time, silver can be used as a shiny paper weight or shiny eating utensils. A baseball card doesn't really do anything.

The cool thing is that people don't know what gold and silver are worth, so they're not likely to be stolen. Someone can look at $200 worth of silver, know that it's silver, and still not feel any desire to steal it. Leave $200 cash on your desk at work and see if the cleaning people take it.

 

[Matthiasa]

They know what its worth but is marginally harder due to the requirement of fencing it.

 

[dave_the_nerd]

I don't understand this mentality. At some point prices are more than likely to go up right? It's not really different than stocks or 401k's in terms of going for the long haul, not the short haul.

http://silverprice.org/silver-price-history.html

Prices of a commodity - and silver is a commodity, not money - don't have to rise. In fact, if we get better at making it / finding it / mining it, prices will go lower and stay that way.

 

[John Connor]

With inflation the rich will be burning their cash to stay warm.

Personally would have gold and silver in my fireproof safe. I'm a SHTF kind of guy and would rather eat than suck dick for food.

Just sayin'. Shit ain't getting any better.

 

[WelshBloke]

With inflation the rich will be burning their cash to stay warm.

Personally would have gold and silver in my fireproof safe. I'm a SHTF kind of guy and would rather eat than suck dick for food.

Just sayin'. Shit ain't getting any better.

Maybe you should buy some air-conditioning before you buy any gold or silver?

 

[lxskllr]

With inflation the rich will be burning their cash to stay warm.

Personally would have gold and silver in my fireproof safe. I'm a SHTF kind of guy and would rather eat than suck dick for food.

Just sayin'. Shit ain't getting any better.

Canned goods. Not only are they useful, they make good paperweights. If the shit hit fan, I have as much use for a bar of silver as I do a set of tits.

 

[WelshBloke]

Canned goods. Not only are they useful, they make good paperweights. If the shit hit fan, I have as much use for a bar of silver as I do a set of tits.

A couple of kilos of heroin would probably get you quite far as long as you combine it with some really big guns.

 

[lxskllr]

A couple of kilos of heroin would probably get you quite far as long as you combine it with some really big guns.

Cocaine would be good too. High trade value, and legitimate medical use.

 

[sourceninja]

...

 

[Brainonska511]

They look really neat. plus its a nice paperweight that has some intrinsic value.

Its intrinsic value is that it can be used as a paperweight. And maybe a little value in that it can be melted down and used in some small-scale industrial process, or melted into a bullet to kill a werewolf. Other than that, it's just a shiny rock.

It has extrinsic value, because people believe and have faith that they can trade the object for goods and services. Just like paper money - everyone uses it because they have faith that it can be used to obtain goods and services they need. Money, be it paper, shiny rock, or something else, came about to provide a common means for people to exchange goods and services.

In a SHTF scenario, shiny rocks would be useless. The winners would be those holding weapons, food, clean water, and shelter.

 

[SunnyD]

Does it bother you that every time you use it as a paperweight you're reducing it's value by causing it to rub some silver off by abrasion?

 

[Kwatt]

As an investment I like silver better than gold.(My IRA holds silver in a fund)

Silver has more known uses (~10,000?) than anything but hydrocarbons (~30,000?)I believe. Most silver has been lost. There is less silver above ground than gold. The USGS stated that is the most likely element to become extinct.


.

 

[Virge_]

The digitization of currency killed the gold standard long ago and only the oblivious banked on it. Bitcoin simply came along and solidified it's obsolescence.

This is just the result of the obvious. I still have a few friends who spewed the silver thing constantly, I'm sure they're considering taking up a drinking habit right about now..

 

[Red Squirrel]

It kinda looks like an ipod at first glance. Apple lawsuit incoming...

I kind of want a gold ingot for decoration, would be a fun conversation piece. If anyone can lift it with one hand right off the table they can keep it get a free beer.

 

[WHAMPOM]

They look really neat. plus its a nice paperweight that has some intrinsic value.

http://www.geiger-edelmetalle.com

Anyhow Silver and gold have taken a massive hit, I wonder how all the gold/silverbugs who plowed money into these investments must feel seeing the prices plummet to a point where now you can buy them and use them as paperweights in the office.

Real Gold/Silver bugs? Buy all they can afford "cause idiots buy when prices go up instead of bottom.

 

[Kelvrick]

I started buying silver coins for kids when I get invited to friends' kids' birthdays rather than another toy that will end up in the landfill.