unlv123 said:
I was looking to potentially invest in buying silver and was looking to get some insight as to when to purchase / what to purchase and if to purchase.
I have watched silver pricing go up from 12.50 an ounce to about 14.50 over the past couple months. can anyone speak to expectations or if this is a good investment?
It depends on your situation. Do you want to buy physical silver? Many recommend taking possession of the actual metal to avoid what is termed counterparty risk. You can buy the maple leaf one ounce bullion coins but you will pay a premium over what is called 'spot' or 'wholesale'. This is because of an overall shortage of available coinage due to huge demand.
Buying a silver exchange traded fund like SLV has its risks. I have heard that there are rumours circulating that funds like SLV may not actually have the amount of metal in their possession that they claim to have. Also, there have been questions about title (ie. who actually owns the bullion) and whether or not they have been leasing it out for bullion banks to sell in the open market. They are not supposed to do this but there is so much corruption and price manipulation in the system, you have to be extremely careful. That is why many recommend simply buying the physical bullion and storing it in a safe deposit box.
As to timing, you should have considered your purchase last month. Silver has been on the rise lately but if you can handle the possibility that the price may weaken somewhat after you buy, then don't worry about it. Go ahead and buy. If you want to chance it, you can wait for a pullback but if the price really starts to move (as I personally feel it will) you might get left in the dust.
Check out Ebay to see what silver maple leafs are going for. This will give you some idea on what you'll end up paying.
