Precious Metals: How many....

reply to post by zippy1958


Thank you zippy. I'm not panicing even though the price on silver has dropped $1/oz. since I purchased it yesterday. I'm in it for the big pay off. Historically it was as low as $5/oz. just a few years ago. But has also been as high as $50/oz. in my lifetime. Many "experts" (in 2006) predicted the price of silver would skyrocket by 2008. Instead it has gone down.

Silver deposits in the USA and Canada have declined and currently latin american countries (specifically) Peru and Mexico lead the world in silver production. They have been mining those areas for centuries. Will those areas start to run low in the future? Demand has been outstripping supply in silver since the early 90s.. Silver is very cheap, perhaps unrealistically cheap. I believe it's a good investment.

I want to look around locally for the smaller (coins) items. You're right though- it is addictive.. I need be mindful of my spending habits, especially in these economic times!