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Silver investors lost their asses over the last 8 years.

 
Anonymous Coward
User ID: 76536385
United States
05/05/2018 01:35 AM
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Silver investors lost their asses over the last 8 years.
In September 2011 Silver dropped to $31 an Oz. You lost $4 an Oz. The last chance you had to get out even on his investment was one year later.

Two years later in Aug 2013 silver was at $25 an Oz. Ever since then silver has gone down to $16 an Oz and stayed around there until 2018. If you didn't get out he has lost a lot of money.

You didn't mention that any profit on silver you make has to be reported to the IRS. If you sells it as bullion it's a 28% capital gains tax. When you buy silver you normally have to pay an extra fee on top of spot price and when you sell silver you have to pay an extra fee too. Normally you don't get to buy it at spot price unless you're buying 10 Oz or more. You said you were only buying it one Oz at a time. That means you were probably paying 10% over spot price.

Let say you pay 10% over spot price for one Oz silver and sell it at 10% of it's current value. Then you have to pay the 28% capital gains tax when he sells it as bullion.

Also, you probably had to pay extra for shipping and handling at least once. Lets add an additional 5% for shipping and handling.

You would have to make 53% profit on each Oz of silver to cut even. Does that sound like a good investment to you?

Lets assume you sold your silver in Aug 2011. Silver was $44 an Oz. You had 50 Oz of silver too. You paid $175 in fees buying the silver. Lets assume you pay another $175 selling the silver. You made $8 per Oz on 50 Oz of silver, which is $400 profit.

You owe 28% tax on that profit, which is $112. You paid $300 buying the silver and selling the silver. You paid $88 or %5 in shipping and handling of that silver. Which means You lost $100 after selling it assuming you sold it at $44 an Oz which was the highest silver has been since 2011. Currnetly silver is $16 an Oz. If you sold it at $16 an Oz you lost a lot of money and you could only get relief by using that loss as a tax write off.
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 01:38 AM
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Re: Silver investors lost their asses over the last 8 years.
I didn't even calculate in inflation here. stoned

See investing and college is all rich mans game. Don't even go there if you're a working man. Just work, be happy and die. nutkick
Anonymous Coward
User ID: 76526212
United Kingdom
05/05/2018 01:44 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
bro tim

User ID: 73686302
United States
05/05/2018 01:47 AM

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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212


Actually there is colloidal silver which you can eat
Anonymous Coward (OP)
User ID: 76536385
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05/05/2018 01:50 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212



I just watched a YouTube video of some guy saying college is a scam and he was buying silver at $36 an Oz back in 2011. He was thrilled to be making a profit of $4 an Oz. I guess he doesn't know about the taxes and fees cruise
Anonymous Coward (OP)
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United States
05/05/2018 01:50 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212


Actually there is colloidal silver which you can eat
 Quoting: bro tim


It's good for the bones.
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 01:57 AM
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Re: Silver investors lost their asses over the last 8 years.
Isn't is sick we're surrounded by money whore parasites in America? stoned
Anonymous Coward
User ID: 76540404
United Kingdom
05/05/2018 01:57 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212



I just watched a YouTube video of some guy saying college is a scam and he was buying silver at $36 an Oz back in 2011. He was thrilled to be making a profit of $4 an Oz. I guess he doesn't know about the taxes and fees cruise
 Quoting: Anonymous Coward 76536385


How do the irs find out when you sell on ebay etc?
SNOWIE

User ID: 76534011
United States
05/05/2018 02:01 AM
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Re: Silver investors lost their asses over the last 8 years.
Silver will be priceless.
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 02:06 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212



I just watched a YouTube video of some guy saying college is a scam and he was buying silver at $36 an Oz back in 2011. He was thrilled to be making a profit of $4 an Oz. I guess he doesn't know about the taxes and fees cruise
 Quoting: Anonymous Coward 76536385


How do the irs find out when you sell on ebay etc?
 Quoting: Anonymous Coward 76540404


You better just hope you don't get audited and they check cash deposits in your bank account. Also, they dealers who buy silver have records and sometimes report it. The IRS has other ways of finding out.
FissionSurplus

User ID: 76490488
United States
05/05/2018 02:06 AM
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Re: Silver investors lost their asses over the last 8 years.
I bought a lot of silver when it was down around $20. So if I were to sell now, I would lose my ass. So I keep it and just wait. I have eternal patience for this sort of thing.

There's a group of men in London who decide the silver price twice a day (and the gold price, once a day). It is not necessarily market driven. They have their paper ETFs which are quick a bronco ride, if you are so inclined. The physical silver has been kept artificially low for years, and we're powerless to do anything about it.

There will come a day when the physical silver will be worth a lot more, and that's what I'm waiting for. No I can't eat silver, but I got food and an underground aquifer of the sweetest, most pure water ever. The silver is for later.

Covering all the bases. Besides, I like to look at the new ones. They're shiny.

baby
Anonymous Coward
User ID: 55721322
United States
05/05/2018 02:16 AM
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Re: Silver investors lost their asses over the last 8 years.
Not if you bought at $7.00

and sold at $40.00 ( ; )

and you can eat the Canadian

Silver Maples that are .9999 for

making colloidal silver...

but not the U.S. dollars that are only .999


Silver is too heavy...to carry

but may be leveraged with gold

in the next upswing...or not ! ( ; )

A few hundred ounces along with

some "junk silver" for change...

might be useful for trade...

but so is lead and brass...

wheat, corn, rice,oatmeal, beans, and oil/fats,

salt, sugar, honey, spices...

are for eating...packed in 5 gal.buckets with
mylar bags and oxygen absorbers.
Anonymous Coward
User ID: 55721322
United States
05/05/2018 02:17 AM
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Re: Silver investors lost their asses over the last 8 years.
Ecclesiastes 12:9

Not only was the Teacher wise, but he also imparted knowledge to the people. He pondered and searched out and set in order many proverbs.

Proverbs 9:9

Give instruction to a wise man, and he will be yet wiser: teach a just man, and he will increase in learning.

Proverbs 21:20

There is treasure to be desired and oil in the dwelling of the wise; but a foolish man spendeth it up.
...

...

Luke 12:42

The Lord answered, “Who then is the faithful and wise manager, whom the master puts in charge of his servants to give them their food allowance at the proper time?


Matthew 10:16
Behold, I send you forth as sheep in the midst of wolves: be ye therefore wise as serpents, and harmless as doves.
Anonymous Coward
User ID: 68967809
United States
05/05/2018 02:33 AM
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Re: Silver investors lost their asses over the last 8 years.
In September 2011 Silver dropped to $31 an Oz. You lost $4 an Oz. The last chance you had to get out even on his investment was one year later.

Two years later in Aug 2013 silver was at $25 an Oz. Ever since then silver has gone down to $16 an Oz and stayed around there until 2018. If you didn't get out he has lost a lot of money.

You didn't mention that any profit on silver you make has to be reported to the IRS. If you sells it as bullion it's a 28% capital gains tax. When you buy silver you normally have to pay an extra fee on top of spot price and when you sell silver you have to pay an extra fee too. Normally you don't get to buy it at spot price unless you're buying 10 Oz or more. You said you were only buying it one Oz at a time. That means you were probably paying 10% over spot price.

Let say you pay 10% over spot price for one Oz silver and sell it at 10% of it's current value. Then you have to pay the 28% capital gains tax when he sells it as bullion.

Also, you probably had to pay extra for shipping and handling at least once. Lets add an additional 5% for shipping and handling.

You would have to make 53% profit on each Oz of silver to cut even. Does that sound like a good investment to you?

Lets assume you sold your silver in Aug 2011. Silver was $44 an Oz. You had 50 Oz of silver too. You paid $175 in fees buying the silver. Lets assume you pay another $175 selling the silver. You made $8 per Oz on 50 Oz of silver, which is $400 profit.

You owe 28% tax on that profit, which is $112. You paid $300 buying the silver and selling the silver. You paid $88 or %5 in shipping and handling of that silver. Which means You lost $100 after selling it assuming you sold it at $44 an Oz which was the highest silver has been since 2011. Currnetly silver is $16 an Oz. If you sold it at $16 an Oz you lost a lot of money and you could only get relief by using that loss as a tax write off.
 Quoting: Anonymous Coward 76536385


Not losing if you hold on to it.
Anonymous Coward
User ID: 76540394
United States
05/05/2018 02:53 AM
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Re: Silver investors lost their asses over the last 8 years.
I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them....
Anonymous Coward
User ID: 29174545
United States
05/05/2018 03:08 AM
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Re: Silver investors lost their asses over the last 8 years.
The banks are loaded up on physical gold and silver.

He who has the gold and silver makes the rules.

That is all you need to know.
mondali2

User ID: 76546226
Thailand
05/05/2018 03:24 AM
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Re: Silver investors lost their asses over the last 8 years.
That is the most ridiculous Op I have seen in a while.

Bought 4 pounds of silver at $3 per ounce. another 50 oz at $7. Don't sell it to dealers and you pay no taxes, cash transactions only. I pay no taxes any way haven't for over 20 years. I do not voluntarily use FRN. You shouldn't either. This is why you have to pay taxes, you haven't objected yet. lol
mondali2
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 03:27 AM
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Re: Silver investors lost their asses over the last 8 years.
I bought a lot of silver when it was down around $20. So if I were to sell now, I would lose my ass. So I keep it and just wait. I have eternal patience for this sort of thing.

There's a group of men in London who decide the silver price twice a day (and the gold price, once a day). It is not necessarily market driven. They have their paper ETFs which are quick a bronco ride, if you are so inclined. The physical silver has been kept artificially low for years, and we're powerless to do anything about it.

There will come a day when the physical silver will be worth a lot more, and that's what I'm waiting for. No I can't eat silver, but I got food and an underground aquifer of the sweetest, most pure water ever. The silver is for later.

Covering all the bases. Besides, I like to look at the new ones. They're shiny.

baby
 Quoting: FissionSurplus


Don't forget to factor in inflation after all those years of waiting. cruise
Anonymous Coward
User ID: 74422807
France
05/05/2018 03:36 AM
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Re: Silver investors lost their asses over the last 8 years.
That is the most ridiculous Op I have seen in a while.

Bought 4 pounds of silver at $3 per ounce. another 50 oz at $7. Don't sell it to dealers and you pay no taxes, cash transactions only. I pay no taxes any way haven't for over 20 years. I do not voluntarily use FRN. You shouldn't either. This is why you have to pay taxes, you haven't objected yet. lol
 Quoting: mondali2

FRN? I assume that means federal reserve notes, or paper money....how do you get around not using them?
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 03:45 AM
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Re: Silver investors lost their asses over the last 8 years.
Anonymous Coward (OP)
User ID: 76536385
United States
05/05/2018 04:00 AM
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Re: Silver investors lost their asses over the last 8 years.
I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them....
 Quoting: Anonymous Coward 76540394


Silver is overproduced and is no longer money. It used to be money.
Anonymous Coward
User ID: 75684849
United States
05/05/2018 05:27 AM
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Re: Silver investors lost their asses over the last 8 years.
Great video and topic OP. I am for sure only going to buy Gold from now on. Silver is just junk if this man is correct and overproduced.
Anonymous Coward
User ID: 76503390
Canada
05/05/2018 05:38 AM
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Re: Silver investors lost their asses over the last 8 years.
What should we do with our silver op?

Should we take it down to garbage dump?
Maybe the good people at the city dump will let us unload our silver at the garbage?
May be a small fee but at least will be free from our silver curse.



.
Anonymous Coward
User ID: 76536692
Australia
05/05/2018 05:42 AM
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Re: Silver investors lost their asses over the last 8 years.
Just wait until Russia introduces the silver rouble. Silver is the black swan
Anonymous Coward
User ID: 76537171
Canada
05/05/2018 05:45 AM
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Re: Silver investors lost their asses over the last 8 years.
Paper investors are losers.
They have nothing.

Physical owners still have their silver.
It is and has been recognized as money for the last 5000 years.


Just waiting for the collapse of the fiat currencies.
Anonymous Coward
User ID: 76503390
Canada
05/05/2018 05:49 AM
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Re: Silver investors lost their asses over the last 8 years.
CANT EAT SILVER

cruise
 Quoting: Anonymous Coward 76526212


Correct!
And Bitcoin sandwiches are just delicious!




.
wtf richard

User ID: 75357389
United States
05/05/2018 05:50 AM

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Re: Silver investors lost their asses over the last 8 years.
I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them....
 Quoting: Anonymous Coward 76540394


Silver is overproduced and is no longer money. It used to be money.
 Quoting: Anonymous Coward 76536385


That's why they stopped minting currency with silver because it is overproduced, yeah?
Anonymous Coward
User ID: 53927732
United States
05/05/2018 05:53 AM
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Re: Silver investors lost their asses over the last 8 years.
Just waiting for the collapse of the fiat currencies.
 Quoting: Anonymous Coward 76537171


Except in a world with generally stable societies that probably wont happen. For a long, long time.
BRIEF

User ID: 39607259
United States
05/05/2018 05:57 AM

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Re: Silver investors lost their asses over the last 8 years.
Isn't is sick we're surrounded by money whore parasites in America? stoned
 Quoting: Anonymous Coward 76536385


Money is a tool. It improves quality of life.
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
BRIEF

User ID: 39607259
United States
05/05/2018 05:58 AM

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Re: Silver investors lost their asses over the last 8 years.
I must be old....I bought my silver position at <$3.00 Oz.....since its a worst case scenario insurance plan, I still have them....
 Quoting: Anonymous Coward 76540394


Silver is overproduced and is no longer money. It used to be money.
 Quoting: Anonymous Coward 76536385


It's absolutely money. Go to any coin shop or numismatist.
I never forgive and I never forget

I am a licensed firearm holder. I will, under protection of law, use lethal force if attacked.

Briefcut4892
Anonymous Coward
User ID: 76247325
United States
05/05/2018 06:16 AM
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Re: Silver investors lost their asses over the last 8 years.
Haha op is got hurt trying to date silver





GLP