Who's jumping into Silver today? Flirting with 52 week low.

Did you jump in? If so, at what price and what did you buy, SLV or the real stuff?

I agree it has room to go down. Depending on your time frame, I don't think buying now will hurt you. It's selling now for about .79 over spot. Close to that over fixed.

You are probably correct about the downdraft. But, I jumped in today at $18.22 anyway.

On a separate note, I am warming to buying physical for diversification and novelty. I'm thinking silver eagles. Anybody care to jump in on recommendations for physical purchase? Jump right in here.

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I jumped in today at $18.22 anyway.

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You timed it well. You're up almost 2%.

There are lots of online sellers from ebay which I would avoid to the mints themselves. I use jmbullion.com the most because shipping is already calculated in the price and they usually have some of the lowest prices. This makes it easy as there is nothing to calculate. If you are in a large enough city there will be some local sellers, try a coin shops or try the yellow pages. If I had a local dealer with comp. prices I would go that route as I did in the past. I live in a rural area and can order it way cheaper than driving to purchase face to face. Either way just check both out and see what you prefer. If you overpay a bit on small amounts in the begining it will not kill you to learn the ropes. The fees or price over spot you will pay to purchase will depend greatly on the amount and size piece you purchase as well as shipping if applicable. Just have some fun and pick up an ounce here and there till you learn the ropes a bit, thats one great thing about silver, at todays price you won't lose a lot trying learn how to buy.

Many of the paper pm's aren't pm's at all, but are largely commodity pools as defined by the CFTC. Many say so right in their prospectus for those that ever read these things. They say this because they are required to say it. They don't necessarily advertise it.

This being fact, and it is, when you look at the expense ratios, this is really the most expensive way to own pm's, although in few cases would you ever have a right of redemption, so you never really own pm's.

The only benefit as I see it, and it is a large benefit, are the swaps they can enter in to due to volume and capital. The swaps help stabilize pricing to nav. If it is an etn, there is no way they could survive without swaps. ETN's really need to be risk managed well in order to meet their note obligations. We just saw, again, another series of etf's and etn's that stopped creating more unit trusts and shares. Happens all the time.

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“As an owner of iShares, you will not have the protections normally associated with ownership of shares in an investment company (emphasis mine) registered under the Investment Company Act of 1940, or the protections afforded by the Commodity Exchange Act of 1936.”

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WOW, just wow.

BTW, good posts.

And to go further before I'm off to my daily golf game, go ahead and research who actually owns the bars allegedly held by SLV. Click on the link. It takes you to JP Morgan. It indicates bars are "assigned" to the trustee.

And if you're still not convinced, take out that prospectus and see how easy it is to convert your shares to the silver they "own". Or gold in the case of the other EFT.

I guess they call them ETF's.

I think they likely do have the bars assigned, but when you match up what is assigned to what JPM has shorted, you can draw your own conclusions.

Trade the paper, because that is what it is, paper, own the metal if you want to, but make sure you actually own metal.

Warren Buffet played against JPM. He lost. They took his silver at $6.00 that he shorted against.

When you trade paper, you are trading against JPM. When you own metal, you are betting eventually fundamentals win. Eventually could be a long time. The when is the question no one can answer.