katei4 said:

These websites are trustworthy?

katei there are certain site which are reliable. If you are completley unaware of site then you should have some basic idea about what exactly you are trying to sell. If you want to sell gold then what is the current rate of gold what is the carte you are planning to sell.

Silver Shortage?

Because of the many industrial uses of silver, and its value as a precious metal, he does believe the long term prospects for gain on a silver investment are still better then other PMs, including gold. And I agree that while most of the gold that has ever been minded is still around somewhere, silver gets used up in some applications. And lately, many investors were having trouble with shortages at local dealers, and even large online dealers, for common silver bullion products. In other words, he believes that silver is in short supply, even if that is not public knowledge.

However, all of us who watch markets know that the metal price is very volatile, and in the short term, is not a game for the faint of heart. A better strategy is to invest slowly and do our best to buy on the dips, not the spikes. Of course, during the hype and cries of shortages, it is much more tempting to push the buy botton, and that my friends, is the hard part of the game.

Right now, I am sitting on my pile and watching. I could regret this, as silver could spike over $20 again. I could be relieved if silver drops as some reserves are dumped on the market to keep the price down.

Again, I am not any sort of professional investment advisor and you must DYODD! Comments?

Still it does look convenient, and probably will be the same money a person would get at a pawn shop, jeweler, etc.

A bullion dealer may do better if you explain to them that you understand what you have.

I guess people should "shop" for the best place to sell, just like they would "shop" for the best place to buy! However, for people that have unused items made of precious metals, this looks like a simple way to sell them. As they state in their terms, you can always refuse the offer.

I will try to come up with some other examples, but to be simple, a silver dime could buy two candy bars in the early 50's when they were 5 cents each. Now, if that same silver dime is worth about $1.20 because of the bullion content, it can still buy 2 candy bars.

So realistically, buying silver, gold, or other PMs does not seem to be as much about making a huge profit as it is about keeping the value of your money intact.

Right now, with the dollar down, oil up, and recession on the horizon, I don't see any reason to be bearish. I would never tell anybody to invest everything they have in one market. However, setting aside some percentage of savings into a "real" saving vehicle like precious metals is something people should look at.

Right now, the value of a dollar is fluctuating wildly, so the value of gold or silver can actually be the baseline you can measure your savings with.

But I am not a financial professional, and everybody needs to do their own research. Any commodity investment is risky. It is up to the investor to do their own research!

I am reading some PM newbies who bought silver at $20 or gold at $1k who are really worried about their investment. Of course, most of us have been playing this game a long time, and we have added to stacks when silver was $6 and gold was $600, so we can average the price over that long term move, and losing a little here and there is no reason to panic when looking at long term gains.

I am still bulllish, and even added to my stack a bit this week-end. However, I am not quite ready to plunge back in with both feet at these levels. I could either be very relieved next week or I could be kicking myself. Nobody has a crystal ball.

Please add your thoughts to the forum!