Silver bars?

LeesaxJune · February 2012

Has anyone ever heard of registering for silver bars? My fiance would like to register for these as an investment into our future. The price of silver and gold are always going up, and he thinks that this would be a good idea. Any input?

tldh · February 2012

Actually, the price of silver and gold do not always go up. They've been going up in recent years because of the crappy economy but there will come a point where they begin to lose value.

As to your question, take the money that people give you for your wedding and buy silver and gold on your own. What you are planning is a cash registry and is nothing less than rude.

LeesaxJune · February 2012

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_registering-gifts_silver-bars?plckFindPostKey=Cat:Wedding%20BoardsForum:34Discussion:8e12fbeb-1cf7-4fa1-87d0-964169cf3f5dPost:fb58ffdb-ab88-4304-aed7-9b701acae722">Re: Silver bars?</a>:
[QUOTE]Actually, the price of silver and gold do not always go up. They've been going up in recent years because of the crappy economy but there will come a point where they begin to lose value. As to your question, take the money that people give you for your wedding and buy silver and gold on your own. What you are planning is a cash registry and is nothing less than rude.
Posted by tldh[/QUOTE]

Actually, not planning a cash registry. We are registering for other things, but my fiance wanted to also register for the silver bars as something to put away, and maybe one day invest in our future with. We are not asking for cash. Thank you, though, for the advice. :)

SCogs18 · February 2012

I agree with PPs. Don't register for the silver bars. If you guys really think it's a good investment (I'm not so sure it is) buy them with any money you are gifted for the wedding.

jessicabessica · February 2012

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_registering-gifts_silver-bars?plckFindPostKey=Cat:Wedding BoardsForum:34Discussion:8e12fbeb-1cf7-4fa1-87d0-964169cf3f5dPost:d10ee83c-fb35-4f3e-9a26-b02f4b7d1f68">Re: Silver bars?</a>:
[QUOTE]In Response to Re: Silver bars? : Actually, not planning a cash registry. We are registering for other things, but my fiance wanted to also register for the silver bars as something to put away, and maybe one day invest in our future with. We are not asking for cash. Thank you, though, for the advice. :)
Posted by LeesaxJune[/QUOTE]

You don't have to register for cash for people to give it to you. Even if you register at BBB/Macys/etc., I am sure some of your guests will give you cash, which you are free to use to buy silver bars, put under your mattress, or whatever you would like. It doesn't matter if you register for other things, once you put money on your registry (in any form), it's a cash registry.

Edited because I didn't understand at first.

Avion22 · February 2012

The logistics behind buying silver bars might make it kind of difficult.

1. Where do silver bars come from? Specifically, where is it mined? When I think of precious metal mining I usually think of extremely poor conditions and underpaid workers, but this might not be the case with silver (I honestly don't know).

2.. Where do you even BUY silver bars?

3. How would your guest get these to you? Mail them? Seems expensive (silver is heavy) and risky (theft).

4. What would you do with it when you get it? Safe deposit box?

5. How do you sell it in the future to liquidate your investment?

Personally it seems a lot easier to just take money that people give you and invest in stocks, bonds, start an IRA, do mutual funds, invest in real estate, or a million other options that don't involve a hunk of metal that was probably mined under inhumane conditions. Just my .02.

hoffse · February 2012

Ummm... I vote for mutual funds with your cash gifts. It's a much better investment. Silver bars aren't the greatest thing ever, and it's tacky to regsiter for it. I don't even know how you think you'd accomplish that.

BTCarolus · February 2012

<div>I would first like to second everything PPs have said about registering for silver being = to registering for cash and very tacky. Also, you're not likely to find a coin or pawn shop that has a registry.</div><div>
The bigger issue is that your FI has no idea how investing in precious metals works. I think this is the bigger issue because your financial future is more important than your registry ;) You don't go for the bars (silver bars are around 1,000 USD per kilo right now, fyi, can your family and friends afford that for you?), you need minted coins. These are easily purchased in coin shops, usually priced by the ounce. I think the silver price has been hovering around 30 USD for the past few months, so that's what the prices are like. However, the silver market is super-inflated because A LOT of people went into it (and into gold, which is at like over 1,500 USD/oz!) after the 2008 downturn (the 2005 price, which I just looked up, was about 7 USD, which means there's been a huge increase!). I would definitely not buy now. You would definitely lose significantly if the prices decrease, which many people are predicting in the next few years. As to storage and liquidation, that's simple. You put them in your SDB (safe deposit box) and you make sure that they're insured (and that the bank is insured). To liquidate, you sell to a place that buys coins, jewelry, etc.</div><div>
</div><div>Safer things to look at buying would be treasury bonds (usually very stable, they make good long term investments), the old stand-by of mutual funds or stocks, private bonds (riskier), or an annuity (not so risky, but watch who's trying to sell it to you). There's also the CD-ladder technique (certificate of deposit), although interest rates are so low right now there's almost no point to CDs unless you've got a minimum of $10,000 to put into them. You should also seek sound financial advice, both by paying for it and by asking family and friends (who have experience with managing assets). And develop a long-term financial plan, set goals for yourselves, educate yourselves, etc.</div><div>
</div>In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_registering-gifts_silver-bars?plckFindPostKey=Cat:Wedding%20BoardsForum:34Discussion:8e12fbeb-1cf7-4fa1-87d0-964169cf3f5dPost:35759842-05f5-478c-8617-d25a51ac3e55">Re: Silver bars?</a>:
[QUOTE]1. Where do silver bars come from? Specifically, where is it mined? When I think of precious metal mining I usually think of extremely poor conditions and underpaid workers, but this might not be the case with silver (I honestly don't know). Posted by Avion22[/QUOTE]<div>
Silver is mostly mined in North and South America, Asia and Europe, with only a little bit of activity in Africa. So that's not really an issue. Plus a lot of it is above-ground already, not freshly mined. It is more of a problem for gold, which is mined a lot more in Africa (as are gemstones, but y'all already knew that).</div>

Avion22 · February 2012

In Response to <a href="http://forums.theknot.com/Sites/theknot/Pages/Main.aspx/wedding-boards_registering-gifts_silver-bars?plckFindPostKey=Cat:Wedding%20BoardsForum:34Discussion:8e12fbeb-1cf7-4fa1-87d0-964169cf3f5dPost:0cb1142d-2233-42be-8930-a39b49be4f95">Re: Silver bars?</a>:
[QUOTE]I would first like to second everything PPs have said about registering for silver being = to registering for cash and very tacky. Also, you're not likely to find a coin or pawn shop that has a registry. The bigger issue is that your FI has no idea how investing in precious metals works. I think this is the bigger issue because your financial future is more important than your registry ;) You don't go for the bars (silver bars are around 1,000 USD per kilo right now, fyi, can your family and friends afford that for you?), you need minted coins. These are easily purchased in coin shops, usually priced by the ounce. I think the silver price has been hovering around 30 USD for the past few months, so that's what the prices are like. However, the silver market is super-inflated because A LOT of people went into it (and into gold, which is at like over 1,500 USD/oz!) after the 2008 downturn (the 2005 price, which I just looked up, was about 7 USD, which means there's been a huge increase!). I would definitely not buy now. You would definitely lose significantly if the prices decrease, which many people are predicting in the next few years. As to storage and liquidation, that's simple. You put them in your SDB (safe deposit box) and you make sure that they're insured (and that the bank is insured). To liquidate, you sell to a place that buys coins, jewelry, etc. Safer things to look at buying would be treasury bonds (usually very stable, they make good long term investments), the old stand-by of mutual funds or stocks, private bonds (riskier), or an annuity (not so risky, but watch who's trying to sell it to you). There's also the CD-ladder technique (certificate of deposit), although interest rates are so low right now there's almost no point to CDs unless you've got a minimum of $10,000 to put into them. You should also seek sound financial advice, both by paying for it and by asking family and friends (who have experience with managing assets). And develop a long-term financial plan, set goals for yourselves, educate yourselves, etc. In Response to Re: Silver bars? :<strong> Silver is mostly mined in North and South America, Asia and Europe, with only a little bit of activity in Africa. So that's not really an issue. Plus a lot of it is above-ground already, not freshly mined. It is more of a problem for gold, which is mined a lot more in Africa (as are gemstones, but y'all already knew that).</strong>
Posted by BTCarolus[/QUOTE]<div>
</div><div>Thanks!

</div>

Silver bars?

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