Silver: How low will it go?

I’ve been watching silver lately as it is now severely down, even about $3 an ounce loser than 5 years ago before its big spike. I used to purchase silver rounds and hold them, but I eventually sold them. It is time to take a look at that strategy again. I do not want to buy any until I think the price is done dropping about as much as it is going to.A five year low is a pretty good barrier, so it may be about to bounce a bit.

I have two strategies with precious metals. The first is to buy and hold. This works great if Silver goes into another run, but I feel it will likely hang around in a range for a while. The second is to buy and flip. If it starts to go up, people get excited and will pay a bit more for it in anticipation. If you have a good source to get rounds, you can simply flip them for instant cash. This is a fun and profitable short term strategy to get money for further investing.

Gold is still too expensive for me at this point, though the flipping strategy does give a bit more profit per sale. I am watching that too, of course.

The double your money game!

This game is based on the concept of doubling. I read about it almost 10 years ago from a download by a guy named Stuart Goldsmith. I cannot currently find the download as the site seems to have been terminated.  But here is the general concept:

If you started with a single penny .01 and doubled it 28 times, you would have 1.2 Million dollars! Go ahead, figure it out for yourself. The concept is to start with a penny you find or are given and attempt to double that 28 times into $1.2 Million dollars.
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Why a money game as a hobby?

When I was first thinking about a new hobby, there are many things I would like to do. I have always loved the martial arts and enjoy expanding my training. I love to eat, work out, cars, gaming, the outdoors, and new technology. I would like to dedicate some time to most of these on a regular basis.

Doing just one of these things on a pretty regular basis can cost a pretty penny. Wanting to do them all consistently would be downright expensive. I wanted another hobby that the whole family could enjoy that would be beneficial and maybe allow us (or me) to enjoy some of the other things more often.\
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