How To Buy Scrap Silver?

Am I a smart individual to buy silver and work hard to buy more silver?

• I'm 16. I'm currently finishing off my first year in community college, then I'll transfer to the University of Washington to acquire a Aeronautical and Astronautical Science degree. I've read many books about gold and silver, my family really likes gold (they're asian) but they do not care about silver. I've been putting a lot of my attention on learning about silver and buy silver rounds. Now, I have near 10oz of silver in hand, I'm currently selling on ebay and doing anything that I could possibly do to buy more silver, then I'll focus on survival items (I already got a lot of magnesium, a 1300lumens flashlight) and emergency food when I have the funds avalible. Is what I'm doing smart or am I just an idiot? should I put my focus more on community college (I have a 4.0 currently though), please help?

• Answer:

  Why are you posting the exact same question from two different accounts? Yes you're smart to work hard, but to buy silver no, buying survival items definitely no especially not perishable items. Silver is a commodity, it will always be silver. The increases that we have seen in gold are quite unremarkable, had you bought in the 80's you would've made a whopping 2.33% per year in gold, 5.95% per year if you bought after it crashed, all while stocks were returning 18% to 22%. Silver is lagging gold, it has lost the film industry and hasn't been the source of coins for a very long time. Factor in the spread for taking delivery which is often as high as 40% then you've lost as much as 64% right off the bat and require the metal to increase 1.67 times for you to break even, selling on ebay means you get one of those spreads back minus a little because you're trying to charge someone else most of the spread. Disasters are low probability events. You almost never use a disaster item and you hope you never will. Disaster items should be items in your day to day life, one of those bending Bic lighters to light candles and your BBQ easily replaces magnesium. Is 1300 lumens necessary for survival? A handy hand cranked LED light in the trunk of your car will be enough. If you're in a flood prone location, a used axe in the attic would be good if you get trapped and the cost would be amortized over many years but even then you don't want to spend much. Cans of soup and rice that you use every few day is better than MRE's that expire. Filling the bath with water provides water during emergencies.