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Silver Collection 2011 - Bullion Bars Coins Jewelry - Stacking For The F...
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I've been collecting silver for about 6 months. My collection ranges from 50% coins up to 99.99% silver maples. I've also purchased a lot of sterling silver jewellery. I'm not sure buying sterling was a good idea, but I figure silver is silver.
Anyhow, the SLV market recently peaked at $48.50 per ounce, but currently resides around $35. However, if you look on eBay, physical silver trades a lot higher than the SLV.
I've been reading information provided by Sons of Liberty (link provided below) According to these folks, silver is an incredibly undervalued metal and should increase substanially in the months to come. This group goes on to say that silver has been manipulated by a group called "The Pilgrims," for over a hundred years. If this is true, then silver definitely could make some leaps and bounds.
I'll confess thay my true intention is to make money purchasing silver. I've bought during the dips and have held onto everything hoping that silver will trade above the $50 high reached back in the early 1980's. It seems like a plausible scenario if you look at the historical data. Furthermore, I've been informed that the banks that hold physical silver are lending it out at a ratio of around 20:1, which makes sense considering the economic collapse of the US banking system during 2008.
I've been listening to youtube silver hoarders and speculators (like Peter Schiff) who seem to sincerely believe that an economic collapse is imenent. It's difficult to know who to believe since many of these folks are very "long," in silver and have a lot to gain if the price of silver increases. Nevertheless, the silver market seems like a logical choice to invest your money given the economic uncertainty we're experiencing around the world.
I've visited a few 3rd world countries and realized that I don't ever want to experience extreme hardship. In fact, I want to help others overcome hardship by making smart decisions.
Buying silver has been quite an adventure; there have been a few tense moment when buying silver on the street. A few times I purchased fake silver from people who actually thought they were selling me real silver. Another time I purchased something that was silver plated. Luckily, Canadians are a fairly honest lot of folk and I was able to return or negotiate a better deal on my purchase. Since Silver plated items hold no interest to me, I've tried to avoid them as much as possible.
Silver is silver? I hear this a lot on you tube, but don't really understand. For example, if I have a silver maple from 1996 and one from 2006, there is about a $10 difference. It usually depends on the amount of coins that were manufactured. So, I think a lot of people are collecting coins and not buying based on weight. Actually, this is a benefit to me, since most of my coins are quite old and have collectible value. Still, I think there will come a time when the value of the metal will surpass the value of the antiquity.
In conclusion, There are many ways to collect silver and I believe that silver will increase to a level higher than $50 in the near future. Youtube videos have been a huge inspiration for me to purchase more and more silver. My collection isn't that large compared to H1INC, Silverfuturist, etc. But, I'm condifent that I've bought into something that will help my portfolio in the years to come. Keep stacking!
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