Tuesday, October 28, 2008

SHTF: Silver prices are wayyyyyy down!

The Junk Silver Blog is here.

Take a look at the Kitco graph on your right. Silver is below $9.00 an ounce. Historically, silver is down over 5.00 from a year ago. That means today is a great day to buy some silver.

Silver can be purchased in bullion or rounds, from a dealer or from a pawn and jewelery store. As you know, I prefer my silver in a form which everyone is familiar with and recognizes.

Of course, I am talking about pre-1965 U.S. silver dimes, quarters and halves also known as "junk silver"

When prices are down, buy. When prices are high, laugh. Unfortunately, all of us buy when the panic is on and sell when we feel like it.

I plan on stopping at my neighborhood jewelery store this afternoon and see what they have in stock for a roll or two of pre-1965 junk silver dimes. I consider it a hedge after seeing what happened to my 401K this past month. Ouch.

Besides, I think sometime those Roosevelt and Mercury dimes will be worth quite a bit more before this is all over.

I am not an investment adviser, but I am entitled to my opinion on junk silver and precious metals.

See the Junk Silver Blog Here.

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