minusonebit

There are two ways to invest in metals:

1. You buy your metals from someone who sells them (apmex.com is my preffered dealer) and you take physical delivery of them just like you take delivery of a book you buy on Amazon. You know you have your metals because they show up in your mailbox 7 to 10 days later. (Most dealers let the extremely paranoid pay cash over the counter and take immediate delivery, if you're worried about a scam or something.)

2. You buy metals from a company that buys on your behalf and stores them in thier opinion of a safe place. You get a statement telling you how much of what you have, just like a bank. Most rich people do this. IMHO, they are fools for it.

I dont like the second route and I go for the first one. I distrust so-called metals browkers who store in the same way I distrust banks and for alot of the same reasons. There is too much oppertunity for someone to pull an iBill.

History does repeat. And I am very familar with the 1980s as it relates to gold and silver prices. You have a point. Right now is not a time to buy in for gold or silver en mass I dont think. For people who to date have no gold or silver, its probably not the best time for them to start pouring everything into metals. It wouldnt be a bad idea for them to buy a small amount and hold and see where it goes.

I am still picking up silver little by little but I have curtailed my purchasing to a great extent. At one point, I was dumping every free cent I wasnt using to buy food into silver even to the point that I sold a couple of cars to do it. At this point, I am holding and waiting and watching. I sold about 12% of my stake as I felt I deserved a reward for my hard work, but I dont think it has gone as high as it will go yet, so I hesitate to dump a major stake when I really have no need for a ton of cash at the moment.

No investments are entirely safe. Right now, metals are is safe as it gets. Thats what I am saying.