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ecsmac
14th September 2008, 17:43
Hi All,

Add another newbie (and one of those lurkers mentioned recently on another thread). Just started investing in silver. I'll give you the why and then I have a question (if no one minds).

Why? Two reasons. The first is that I've been watching all the bailouts (i.e., printing of money on a truly monumental scale). Read a couple of books, mostly about the economics of printing money and deficit spending. Secondly, I've been a reader of Ted Butler for several months. Not sure I agree entirely with what he says, but can agree with the basic fundamentals. Mostly, I can't see how the dollar can be supported at current levels with all the printing of money. All of the above led me to this forum (been lurking for about a month).

So, I've jumped in during the last couple of weeks. Two 100 oz bars, 150 Phils, 100 Maples. Gotta slow down for now as I basically spent my "money to burn." My question - the bars are 100 oz bars from Ohio mint purchased through Bullion Direct. I can't find any mention of the real / perceived quality of the Ohio bars. I did find a thread that someone put out that listed the Engelhard & Johnson/Mathey bars at the top, but no mention of the Ohio stuff. Now I'm just a little worried if I made a good choice on the bars.

And one last question - bars or rounds? My goal in the next few years is 3000 to 5000 oz., but want to make the best choice regarding type.

Thanks to all (and truly enjoy the commentary here).

Longhaul
14th September 2008, 18:51
Good thing you spent your "money to burn" on money that won't burn. It's a really great way to save buying silver. I get the feeling I've bought something, but it's actually to save. The more I buy the better I feel.

I'm sure the Ohio bars are fine, rounds are good too, nice to have some change.

clr8ter
14th September 2008, 18:57
I buy bars/rounds/coins - whatever strikes my mood at the time. I'll have to admit having a preference for coins, in adition to spot, there may be some numismatic value there, too. Although I noticed that BD Nucleo Exchange has some Engelhard Prospectors on it, which seem to be very popular & hard to come by. Decent price, too. This weekend I picked up 60 APH, cheaper than the prospectors. There has been a lot of talk lately about those, and they look cool. Either way, any .999 can't be bad........

skijake
14th September 2008, 19:01
Welcome! I won't go into what kind of silver is best to own. There are alot of threads on that discussion and I feel it is all personal taste. I don't own Ohio bars but I bet they are perfect as a Silver investment. There may be better and or different choices to make and by the time you have your first 1000 ounces collected you may find you have favorites and find yourself leaning that way. Don't worry about it. Since you are buying in on the low side of the market you will enjoy the price appreciation of all your silver. You can sell what you want out of your personal stock and accumulate what you feel is the best. The important thing is you have crossed the bridge. Congrats and Good Luck!:cool:

balou2
14th September 2008, 19:28
As someone paraphrased, there's no "right" way to invest, other than to just invest. Personally, variety is the spice of life. I've got 1 oz rounds and bars, 5 oz bars, 10 oz bars, 25 oz bars, 100 oz bars, and some coin. Nice to see a little stash of varying styles.

Tribal Warrior
14th September 2008, 23:20
For any newbie to the PM's sector,,,all I can say is BUY!!

Drumblebum
15th September 2008, 15:14
Good time to start, too with silver on clearance...

Not like some of us, who are into 5 figure declines in only a few months!:mad:

But then again, it don't matter, cuz I AIN'T SELLIN'!!

Welcome to metals, enjoy your stay...

Android
15th September 2008, 15:22
Welcome, from a fellow lurker-turned-newbie...

My main stash is Engelhard, but have been loading up on the Ohio 100 oz bars recently. Wish I would have bought more Ohio, actually, because they are a better value for the same .999 silver.

My second wish is to have more cash now, coz the prices are soooo lowwww....dang...

nuslvrkwen
15th September 2008, 15:35
Keep buying what ever .999 bar or .9999 coin you can afford. Silver is on Sale NOW! YES this IS money that WON'T burn! The best part about this type of investment is there's no 'short'. How ever long you hold on to your collection is LONG. Even if the price goes up from here, considering where silver was in March and even since July! Consider the price difference to be price difference - NOT a devaluation!

Lehman Brothers, Morgan Stanley, Bear Stearns, Freddie/Fannie Mae and Indymac bank all used their spare money to go under. NONE of these entities actually HAD bullion as a resource. Dumb ain't it?:|

Welcome to the end of being dumb! Actually, that was a compliment! If all the bail outs made you worried; you'll feel much smarter now! WHY? Because those of us that bought at higher prices still don't consider our purchases to be a loss! The spot price says one thing, but the value of the metal says another. With all that's going on now; and NONE of us able to see what will happen next, I think I speak for all of us on this forum; we're GLAD we GOT SILVER!!:o