Originally Posted by Braves_Fan
Buying silver is a long term investment and not for the flippers looking to make a quick buck. I just got into silver about six months ago and have been learning alot from several old coin guys of what to buy and not to buy. Gold and silver will probably go down more but you can't panic and sell out. Gols and Silver is the world's money and no matter what happens it's still wanted anywhere you go in the world. I try to focus on the Morgans and Silver Eagles because if something happens and I need the money I will be able to sell them fast becuase of their popularity and get most of money back.
I would offer the exact opposite. If you have the capital and the time to short term metals then it is possible to make money. In the long haul precious metals do not provide much of a return, barely beating inflation. I had a nice graph comparing metals, stocks, bonds, CDs, interest checking accounts over 100+ years that shows how lousy metals are. Great short term hedge (can't stress SHORT term enough), but poor long term return. Even the most recent run-up by gold barely beat my stock holding returns and it did so with much less volatility.
I'm referring purely to spot silver, not collectibles. Collectibles can buck the trend. My wife's family are major players in the metals/coin world. My father-in-law organizes one of the largest shows in the US and is constantly wheeling/dealing the stuff. Unlike stocks, metal isn't going to produce future profits.
Little money can be made in increments on the coattails of the big players. So, don't think you can't make money. Following the trend will make you money, just much less than those who created the trend and only if you are not greedy. The greedy will hold too long and miss the boat.