slv is a way to play the silver market. if you feel gold and silver are going up due to industrial demand etc you can buy it if you think the economies of the world are sllowing down you can sell it. its a nice way to play silver without the leverage of the futures markets. i hope you wernt looking for a buy it sell opinion because i cant do that. look at a chart of slv at barcharts.com and form an opinion. regards heart222
Fish, although the slv etf is a way to gain silver exposure, it is among the least desirable available options.
IMHO, buying shares of SSRI, opening an account at www.goldmoney.com (they also have a silvermoney option), or outright purchasing silver bullion and finding a safe storage place are much better options than the etf.
The etf is another way the manipulators are using to prevent people from taking delivery of physical metal.
If you only own the etf, you own paper and not silver.
Dollar cost average with any option(s) you choose.
IMHO, buying shares of SSRI, opening an account at www.goldmoney.com (they also have a silvermoney option), or outright purchasing silver bullion and finding a safe storage place are much better options than the etf.
The etf is another way the manipulators are using to prevent people from taking delivery of physical metal.
If you only own the etf, you own paper and not silver.
Dollar cost average with any option(s) you choose.
many of the brokerage firms can arrange the storage of gold or silver at a small fee. most allow you to buy product at around 5% over the spot price and the storage which is in DE is minimal. You may not want to take delivery because reselling it may be a problem where as it comes out of the storage its not an issue. dont know if the discount guys allow for this but the full service do. heart222
heart222 said:
It appears Goldmoney.com charges only 2.5% over the spot.......
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DAWOOF---Dumb question from a neophite Goldmoney onlooker..........
Is FEDERAL INCOME tax required on GOLDMONEY profits?
Can LOSSES be deducted if they occur?
If so, does one compute the storage of the metal also?
Thanks
The reason I ask is because GOLDMONEY allows for payments to other members.......so if I buy $8000 in Gold and transfer 9000 to you(which is essentially currency) down the road, how is that taxed?
Is FEDERAL INCOME tax required on GOLDMONEY profits?
Can LOSSES be deducted if they occur?
If so, does one compute the storage of the metal also?
Thanks
The reason I ask is because GOLDMONEY allows for payments to other members.......so if I buy $8000 in Gold and transfer 9000 to you(which is essentially currency) down the road, how is that taxed?
Have to agree with Woof on the option of using GoldMoney as a means for accumulating gold or silver, especially as an alternative to an ETF. Premiums, paperwork and redeemability are much lower (on gold at least -- the silver cannot be used as money per se as of yet.)
You might head over to dgcchat.com if you have any questions you'd like to post at their list on the subject. You'll find a fairly helpful support community and comments from James Turk himself not infrequently.
Phaedrus
You might head over to dgcchat.com if you have any questions you'd like to post at their list on the subject. You'll find a fairly helpful support community and comments from James Turk himself not infrequently.
Phaedrus
