I don't recall a day this year (not saying there hasn't been one that I didn't notice) where silver was over $30/oz. There is supposedly a worldwide shortage of silver...who woulda thunk it looking at market prices. I love my cool designed rounds and bars, but when will silver really rise? At least consistently past the $30 threshold? It is pretty disturbing to think that we're just about at the point where 1BTC=2 oz Silver!
You made a mistake fragmenting your wealth into illiquid, useless tokens. They will never be worth anything. Expecting silver rounds to make you rich is no different from daydreaming about how your extensive collection of "collectible" plastic dolls or vintage bricks will make you rich.
Precious metals and silver especially have massive handling costs associated with them, which makes the entire thing a novelty/consumer affair,
not an investment. As a general rule of thumb, if you're "investing" in silver and your unit is not the metric ton, or if you're "investing" in gold and your unit is not the kilogram you're never going to show a net profit.
Forget about the entire thing, mark it down as yet another one of those cases where you (the naive, clueless, stupid-but-unaware) consumer got fooled by unethical salesmanship into parting with your cash for no benefit whatsoever. Try and learn from it, maybe.
Sorry to awake a sleeping giant here, but I just discovered and read through this. MPOE-PR, to put it lightly, you are 100% wrong. You lost me with your first post. And I imagine you lost everyone when you started asking how we know our silver is real, and FOR SURE when you mentioned the apocalypse. I really can't tell if its units of measurements you think are important or you're just using them to express volume?lol. If its a matter of units of measurement, if you have a pound of silver, I'll take it. You couldn't possibly want it since its not in a metric unit. No one would-it's worthless : / If you're talking about volume...you are mostly wrong. Although no shit sherlock to the greater volume, greater profit aspect of your statement. Here is a scenario...I buy one POUND of silver in January of 2003 at $5/oz. Then, in late April of 2011 I decide to sell it at $47/oz (spot prices source:
http://www.kitco.com/charts/historicalsilver.html). In 2003 I spent about $80 on my POUND of silver. In 2011 I sold that POUND for more than $685. So, off just one POUND I made $605.401. Sounds like a pretty good net profit to me!
Now, of course this is assuming that I bought silver at its spot price (although April of 2003 was not the lowest $ point of silver in the last decade). That rarely-never happens. But you call 1oz "tokens" a waste of money? I frequent several coin shops (nope, I don't pay for shipping, and yep, I know the silver I'm getting is silver)-$2 above spot is the highest premium for a generic round/bar at any of those shops. Talk about massive handling costs!
And I, the OP wasn't "fooled by unethical marketing". It must have been the historic success of precious metals as an investment that fooled me. Also, I don't have "a couple bars or rounds". I own about 200 oz of silver, and maybe five of of gold. And guess what's crazy??? I bought that gold at one price, and then when the price went up, sold some of it to the same place I bought it...and made a [net] profit! And no, I wasn't dealing in kilograms or metric tons. Unbelievable!
You have to be the worst "PR" rep ever lol.
