 Buying Precious Metals |
| TheGrim |
 01/22/08 7:57pm
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#1
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 Corporal  Group: {MOB} Regs Posts: 31 Joined: December 9th 2006 From: Omaha, Nebraska Member No.: 2379  |
Hi all, I've been watching the markets lately and have been purchasing silver myself.
My plan is to be a pirate..haha, no but seriously, what do you all think of acquiring PM's as a way to preserve on's purchasing power. Grim |
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| Cpt. Snot Rocket |
01/23/08 9:51am
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#2
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 Colonel  Group: {MOB} Posts: 1304 Joined: February 26th 2006 From: South Bend, IN Member No.: 1615 |
Personally, I would never touch PM's. The volatility is crazy. I know its gaining against a sagging US dollar right now but it still ain't worth it. If you bought gold in the mid-'80's it would be worth exactly half of what you paid for it. And lately the average annual return is around 4% and that certainly isn't worth the risk.
Gold and silver have little intrinsic value as opposed to realstate. Also, gold/silver produce no income (like stocks do) and can be costly to store and insure. If you must, then buy mutual funds through an IRA to avoid storage, insurance costs, and the tax penalty on any gains you might get. Good luck! You'll need it! This post has been edited by Cpt. Snot Rocket: 01/23/08 2:04pm --------------------  "The most terrifying words in the English language are; I'm from the government and I'm here to help." – Ronald Reagan |
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Posts in this topic
TheGrim Buying Precious Metals 01/22/08 7:57pm
Rev Hi all, I've been watching the markets lately... 01/23/08 3:08am PFC Mustangman We always put our money in a mason jar and buried ... 01/23/08 12:28pm Kleerance I think it's a good hedge to the dollar. But p... 01/23/08 2:51pm
Rev That is exactly what I would stay away from right ... 01/24/08 7:50pm |
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