Silver, Buy or Sell?
The World Gold Council says many U.S. investors are buying silver, which has appreciated much more than gold. It's also cheaper by the ounce. (Track Silver Prices Here)
The downside of owning physical silver is that $10,000 in gold can be held in your hand. $10,000 in silver...is a lot of silver.
Bill Cramer of St. Louis wanted to actually own the silver. After all, he's from the Show Me State. So when he called his broker back east to try to take possession of 5,000 ounces he bought in 2003 at $4.94 an ounce, he was told he couldn't. It was in "a pool". He immediately sold and then bought actual coins from Missouri Coin, losing a little in the transaction but buying peace (or piece) of mind.
As Cramer explains in our interview, he has no intention of selling.
Steve Gomez, on the other hand, has been selling. The co-founder of TodayTrader.com, he bought silver in 2009 as a hedge against the dollar. Last week he sold 40 percent, after doubling his money. He likens the run up in silver to the run up in real estate. Just as Donald Trump started holding real estate seminars as housing peaked, Gomez jokes, "If Donald Trump comes out next month and starts selling silver under the Trump Silver Brand...that might be a cue to sell some more." You can watch his interview here.
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