jessiejeff

How Precious Is Silver?

"silver’s price is driven by industrial demand" ??? Silver's spot price is set by the paper futures market, and has little or nothing to do with industrial or invester demand. The physical, non paper silver price is closer to what it is selling for on ebay. At some point the invester shortages will swallow up the wholesale, industrial physical silver, and the paper prices will be brought in line with the true amount of the silver supply.

Trading Gold for Silver

Storing 100 oz bars in a bank safe deposit box-
The 3" x 10" x 22" box will store 20 bars and costs around $45 per year. This is about 0.15% of the stored value (at $15 / oz.).
Be sure to get a box location in the vault that is not above your waist. These 20 bars weigh 137 pounds, and you don't want to try to lift them up very far. Two people can make this job easier. I am an average size man (not a weight lifter) and can handle these boxes by my self without difficulty. Smaller boxes are easier to handle, but the cost per bar goes up (sorry- no info on this).
Be sure to get a metal box. A plastic box will break apart when you try to remove it.
Visit you boxes once a year. You don't need to really look at the contents. You want to appear as an active customer on the log sheets.

A Look at the Gold and Silver ETFs (Part I)

I have sold 100 oz silver bars on Craigs List for several years and never had any problems. You can always get the "ask" spot price so you come out 3-5% better than what a coin dealer will pay you. I keep the bars in my bank's safety deposit boxes and make the transfer in the bank's parking lot.