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Silver: Time to Buy the Hottest Precious Metal!
posted Saturday, 25 March 2006
Silver is beginning what looks like a strong rise in a powerful bull market that may last for years. You could buy silver two years ago for around $6 and ounce, and last year around $7-9 an ounce. Silver has continued to move up, now nearing $11 an ounce. In spite of this strong movement in price - far better than the stock market indices - there is much skepticism and ignorance. Most brokers steer people away from precious metals. Very few people even know where to buy silver or gold. Most people with 401k's haven't considered adding precious metals components. Folks, the time is coming when everyone starts hearing about gold and silver and a lot of money on the sidelines now flees to precious metals. That will be the time to sell, when metals make dramatic spikes upward in price. It won't be the time to start buying. That time is now.
You need to own silver in your own possession, not in someone else's electronic account. Once you have some precious metals as a base, you can add silver stocks like the rocketing Silver Wheaton (SLW), or Pan American Silver (PAAS) or Silver Resources International (SSRI).
Where to get silver? You can buy small amounts easily at Ebay at fair prices. You'll usually get a better deal buy buying $1000 or more of it from a low-cost provider such as Northwest Territorial Mint or Monex. Buy 90% silver coins, as well as bullion.
But for goodness sake, get some silver!
Gold is great also, but silver is moving faster and has the potential to grow at a much higher rate because it is actually more scarce than gold due to heavy industrial consumption. And governments no longer have large stockpiles to dump on the market if the price spikes.
There is the risk that the government will impose higher taxes in the future to penalize you evil-doers who have hoarded a nationally important metal for your own greed. But on the average, I think that those who have silver are going to be better off than those who put all there money into typical stocks and bonds. I suggest that 10-20% of your investments should be in the precious metals area, perhaps even 25% given the strength they will have as the dollar weakens in the future.
You need to own silver in your own possession, not in someone else's electronic account. Once you have some precious metals as a base, you can add silver stocks like the rocketing Silver Wheaton (SLW), or Pan American Silver (PAAS) or Silver Resources International (SSRI).
Where to get silver? You can buy small amounts easily at Ebay at fair prices. You'll usually get a better deal buy buying $1000 or more of it from a low-cost provider such as Northwest Territorial Mint or Monex. Buy 90% silver coins, as well as bullion.
But for goodness sake, get some silver!
Gold is great also, but silver is moving faster and has the potential to grow at a much higher rate because it is actually more scarce than gold due to heavy industrial consumption. And governments no longer have large stockpiles to dump on the market if the price spikes.
There is the risk that the government will impose higher taxes in the future to penalize you evil-doers who have hoarded a nationally important metal for your own greed. But on the average, I think that those who have silver are going to be better off than those who put all there money into typical stocks and bonds. I suggest that 10-20% of your investments should be in the precious metals area, perhaps even 25% given the strength they will have as the dollar weakens in the future.
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