On April 10, 2013, we had a Q&A session regarding “Investing in Silver” on Facebook and Twitter, where our fans and followers had the opportunity to ask our Director of VIP Services, Peter LaTona their questions about investing in Silver. Below is a recap of this session. To join in on upcoming Q&A sessions, make sure to like us on Facebook and follow us on Twitter. We look forward to your questions
Q What is your opinion of Brittania’s versus Eagles for 1oz silver?
A Truthfully these are both bullion coins produced by government Mints. They will both rise and fall with the price of silver. Some people just like collecting all the coins from around the world
Q I have $500 to invest. Do you have any advice for someone like me?
A If you are looking to invest $500 in silver I would buy the best deal we have going that day. You might even consider bars or rounds because the premium is smaller.
Q The premiums in “junk silver” is going up, could this mean there is starting to be less and less of it out there?
A It definitely means that there is less availability right now. It could be that the sellers are holding on for prices to increase or it could mean more investors are buying this product so the demand is increasing
Q The National debt is out of control $16.7 trillion. Silver and Gold prices were at record highs just a few months ago. Has the sequester given the markets a false hope that Washington is addressing the debt problem? Is this why Gold & Silver have taken a hit downward and do you believe like I do that it is only a matter of time until it skyrockets?
A I think you are on target. The same Fed Policy that drives up gold and silver is artificially making the stock market more attractive. At what point do companies need to produce real results and not just take advantage of cheap money?
Q With the recent crash in silver, are you buying or selling silver?
A To answer your question we are both buying and selling. I am sure you have a long term view on where silver prices will be three years from now. Make your decision based on that and do not worry about timing the market.
Q What do you think the outlook for Silver will be for the remainder of the year?
A We try to stay away from predicting prices and I would say that if anyone says they do know, they do not. Be especially cautious of a dealer who says prices are shooting to the Moon. They might just be selling you silver. I personally believe that the macro economic factors, money printing and geopolitical tension are all factors that favor gold and silver prices to increase.
Q With Silver & Gold going down in price, is it still a good investment? Compared to Money Market Bonds? It does not look like the fiat dollar is going anywhere fast.
A I did not say prices would go down, I can say that today right at this moment prices are down, but next hour who knows? I believe that gold and silver are a solid long term investment
Q When I buy or sell silver or gold at APMEX what do YOU report to the IRS?
A Form 8300 for cash transactions and 1099B for when you sell. If you pay by bank wire, personal check or credit card, it is not considered cash
Q The price of silver and gold is down but the price is down? If the demand is up and they keep running out of eagles shouldn’t the price be up?
A The price of Silver Eagles have gone up because they are in short supply. Everyone is buying because silver went down. This does not mean the overall supply of silver is scarce.
Q Hello Mr. LaTona, my question to you sir is with all major governments printing to infinity, where do you see gold and silver prices head by the end of 2013?
A There are very few people who really think all of this global money printing will turn out well. This is a major reason people are buying gold and silver…including the Central Banks who print the money
Q I was wondering what is a better buy, government backed coins like silver eagles and maple leafs or APMEX and sunshine mint silver coins and bars?
A I like the added security of having a coin produced by a government mint, but many people in my company prefer rounds or bars. The “spread” meaning the difference between what we pay you and you pay us is very similar on all these items, so you cannot make a bad choice.
Q How do you feel about the future of AGQ and SLW? What are your favorite Junior Miners?
A I think ETFs will be here for a long while as they are especially good for day trading. I honestly know little about mining companies.