Anybody invested in precious metals?

[Paddy]

Specifically silver? It's at $15 and seems to be appreciating a a pretty good clip.  I have about 1500 Washington Silver Quarters and just doing some quick math it looks like they're worth about $2.75 each in silver content (.018084 * $15/oz). 

How should it be purchased?  In bullion form or silver coins (I keep possession), or in some kind of silver stock (mining, futures, ??)

[Manedwolf]

I have a bunch of Silver Eagles (1oz) put away, picked them up when it was a lot lower. They're pretty easy to get hold of almost anywhere. I don't care about the ones that cost more for certain years, I have no interest in what coin collectors value, because that's of no relation to the bigger metals market. I just got whatever was cheapest, for the silver content.

Usually when I picked them up, they were right at spot or about ten cents over spot, that's all.

I also poke through the junk serving dishes at thrift stores and the like and occasionally find a heavy sterling (92%) piece, they often don't know what they have. The hallmark will reveal such. I've got a bunch of that that I might have someone smelt into ingots eventually. Or do it myself if I can figure the best way to melt it down and skim off impurities.

I wish I'd bought more gold about $200 ago.

[Bogie]

Oh yeah... I _love_ thrift stores...

[yesitsloaded]

I have invested heavily in steel tubes set into wood. I also have a bunch of metal cylinders with a pointed end laying around. There seems to be some sort of powder in there that I can hear rattling around. I'm not sure what they are, but they might be worth something one day.

[Waitone]

I've taking delivery on silver bullion for a while now.  I want to continue to do so however my source has stopped delivery.  I can purchase E-silver where they vault it.  I consider taking delivery on silver to be the same as owning a fire extinguisher or a home defense weapon.  More than likely it will not be needed but there is no substitute should it become necessary.  I was purchasing through PhoenixDollar.com  For some reason they have decided to suspend delivery.  (Are they looking at a future run up?)

[CAnnoneer]

Why are you buying silver? It gets tarnished and every time you clean it, you lose a bit. Gold or platinum would make more sense albeit cost much more.

[Paddy]

Why are you buying silver? It gets tarnished and every time you clean it, you lose a bit. Gold or platinum would make more sense albeit cost much more.

Because silver has many more industrial uses than either gold or platinum, and is likely to appreciate much faster.

[yesitsloaded]

Really? I would think gold would have more off the top of my head. It's a better conductor, more ductile, more malleable, and retains it's luster. Then again if we are trading in specie I would assume that the kind of stuff gold is used for won't exactly be in high demand.

[Manedwolf]

Why are you buying silver? It gets tarnished and every time you clean it, you lose a bit. Gold or platinum would make more sense albeit cost much more.

Well, you don't touch it. If you keep silver coins or ingots in plastic cases in a safe, it doesn't tarnish. None of mine have. Touching it gets sulfur from your skin on it.

[Gewehr98]

I'm invested heavily in steel and wood tubular things, myself.  They seem to be appreciating quite nicely.   

[thebaldguy]

American Eagles in Gold and Silver are popular; you can find them all over with a search for American Eagle Coins. Other countries make gold coins as well. You can also invest in mining companies, or in a precious metals mutual fund or in a gold/silver ETF. Stock brokers will steer you away from actually holding bullion/coins, as they won't make any money. If you have a place to safely store them (gun safe, safe deposit box, etc.) go for the coins/bullion. You can buy/sell them through a coin dealer. I like the ideal of holding the metal I paid for. If a market collapses, I'm not so sure that those stocks/bonds/ETF investments will come through on their promises. If they don't, what can you do about it? Think about how Enron, Charter, Tyco, and all those other firms walked away with investors' money. Hold the coins and bullion yourself.

To be honest, it might almost be too late to get into the market as this point. However, I have read lots of opinions that the precious metals market will continue to rise a lot for a while.

[Manedwolf]

Silver Eagles make good trade goods in case of total disaster too, I think. Mankind always likes shiny precious metal, and if credit cards wouldn't work because of power failures, I think you'd be more likely to find someone who would trade a fill-up of gas for a shiny SOLID SILVER COIN, etc...

[280plus]

I have a nice $1000 bag of 40% 1963 (64?) Kennedy halves that I'll sell you. Something like 274 oz x $15= $4110 + shipping. It weighs 74 lbs, just so you know... 

[Manedwolf]

BTW, pre-82 pennies are now worth quite a bit more than their face value in copper content. After that, they're mostly zinc.

At current rates, I think the value is somewhere around 160 pennies is $3.00.

It is, however, illegal to melt them. They passed a law last December.

[280plus]

yea, I was telling you guys somewhere else about how we used to toss the zinc pennies in the nitric acid bath at this place I worked and they'd fizzle like Alka Seltzer and make orange smoke. It was cool. I got caught by the plant manager once and he asked me why I was doing it and I said, "Because it's cool." And he said, "Why,,, yes it is." 

[longeyes]

The apocalyptically-inclined say bags, small coins.  The investors and speculators say buy "SLV."   The hard-core SHTF types say ammo will be worth a lot more.

[K Frame]

Some in precious metals mutual funds. Good returns on my Vanguard account.

[karlsgunbunker]

Morgan Mint is still selling Morgan, Peace, and Silver Eagle dollars for $14.95.
It's one of each per order but I buy one of each at a time.

the Eagle is the best value at 1oz of silver the morgan and peace have about 3/4oz of fine silver each.
Silver can be used as an antibacterial agent.
Put a silver dollar in your water barrel and it will kill any bacteria in the water.
The pioneers used this method while crossing the plains.

one of the many uses of silver.

[280plus]

I'd be willing to bet there's some electrolysis or galvanic thing going on with that. Interesting.

[Perd Hapley]

Does silver have any anti-zombie properties? 

[karlsgunbunker]

During the Revolutionary - Civil War Era it was common to put a silver dime in a wound before bandaging.

[Perd Hapley]

During the Revolutionary - Civil War Era it was common to put a silver dime in a wound before bandaging.

Was that to prevent zombie-tude? 

[CAnnoneer]

I can see precious metals as an inflation shelter, but not as a SHTF precaution. Training and supplies would be far more valuable. If you offer me silver or gold for my supplies or services, I will politely refuse the trade while laughing inside.

[Manedwolf]

I can see precious metals as an inflation shelter, but not as a SHTF precaution. Training and supplies would be far more valuable. If you offer me silver or gold for my supplies or services, I will politely refuse the trade while laughing inside.

But would the typical sheep refuse the trade?

I remember reading a book called "Alas, Babylon", wherein a stupid lady was trading away food for big TVs because she'd be rich "when things got back to normal".

I think that'd be how most of the masses would be.

[CAnnoneer]

But would the typical sheep refuse the trade?

You got a point there.