Silver ...the poor man's gold

Silver is something i spend a lot of time reading watching and learning about. I'm not saying you should buy some (even though i can't get enough) but i think its something my fellow clan members should HIGHLY look into.

Today's spot price for silver is $27.56, to buy 1 silver liberty coin would not put a hugh dent in your finances. With a free market the price could fall but silver will never be worth nothing because of its intrinsic value. I also beleive its not going down in the long run, here are some reasons why.

1) The historic ratio of gold to silver is 15:1, today its 48:1, i'll add that in the past 200 years its been 33:1, and in the finacial mess of 1980 it went to 17:1
2) For every 1 ounce of investment grade silver there is 5 ounces of gold. If there is more gold how can silver be 48 times less?
3) 70% of silver mined comes from other metals being mined like copper or zinc.
4) 70 years ago there was 10 000 000 000oz of above ground silver in warehouse inventories, today its estimated at 700 000 000oz.
5) Industrial demand is consuming silver, batteries and cell phones, lightbulbs, computers, tv's, water purification, etc.
Most of the silver used in the industry ends up in a landfill site where its lost because its not economically viable to recover it.
6) Industrial demand creates a silver deficit that now runs between 50-100 million ounces per year

This is economics 101 supply and demand, the numbers don't lie. Gold might be desired but silver is needed.

There is also a group of brokers and economists (and others) who believe that silver is being manipulated by various banks like JP Morgan, some believe even the chinese are the ones doing it. I have no ideal if thats true or not, some of what i see makes sense and other stuff seems a little far fetched. It may be possible that silver is indeed being manipulated and if it is then i would expect an over correction in silver prices before it finds its true value.

If you want to buy some i have bought most of mine at Gainsville coins, i've never had a problem and their prices are sometimes cheaper than others. I think it was Ammex that offers free shipping if you live in the states. Also watch ebay, its too bad some americans don't ship to Canada cause there are some really good deals once in a while, like being sold for spot price which NEVER happens up here.

I'll sell you my silver

I'll buy your silver

15 more reasons

http://seekingalpha.com/article/248724-15-reasons-to-own-silver-going-forward

You trade stocks, Br8kaway?

LOL, no B pressure welder by trade

Silver just punched through $38 an ounce today, if you bought some when i originally posted this you would be looking at just over a 38% return on your investment, not too shabby.

Saweeeet! If anyone ever gets into stock trading, hit me up on skype, csr_scott. We have a small group chat with pretty awesome traders. Playing anything from penny stocks with prices of .0001 to nasdaq big board stocks in the $10 - $30 range

if you guys know the numbers of tomorrows megamillions drawing, I'd love to know them.

bankonit wrote:

if you guys know the numbers of tomorrows megamillions drawing, I'd love to know them.

I have bought the winning ticket already- no need to add to my millions.

4 8 15 16 23 42

1 person won that Mega Millions. Was it you, Sen?

Hey Scotter82, here are the 2 mining stocks i was talking about...

Orko Silver Corp..tsx.v ok share price $2.90

This company has a large holding in Mexico(45% production interest in La Preciosa) and with the potential nationalization of silver mines in Bolivia some people believe PAA buying Orko might be a possibility.
Resources estimated at 145 million ounces, with 142 million outstanding shares.
770 holes drilled, its in a very advanced exploration stage.
On a speculative note, depending on production levels, La Preciosa might have the potential to becoming the worlds 5th largest silver operation.

Conway Resources tsx-v - CWY share pice 0.085

Conway is a mining exploration corporation that owns four gold properties and one rare metals property in Quebec
-10.73 grams au and silver credits
-21 veins and counting
-dewatering permit close in hand(may)
-more trenching and sampling to begin shortly
-5 thousand meter drill program planned
-L.O.I. with Quebec's 2nd largest mine developer to dewater and development of belleterre mine
-newly appointed C.F.O.
-1.2 MILLION in the bank
-10 million line of credit secured
-road right to site
exploration on litco-1(ree property) underway beside v.cre

I own Orko and plan on buying CWY very shortly, i'm not telling you to buy this...do your own DD.....

I'll look into them.

On a side note, LTUM today....DAMN I found it around .28 and was screaming about it to everyone in the chat, but didn't have free funds to play it......hit a high of 1.34!!!! Doh