I think not - especially at today's price (just below $29 per Troy ounce as I write this). I don't invest in pure silver but I do buy sterling items that might have value for their original intent as well as value based upon silver content - mostly sterling flatware. I would feel comfortable buying today.
Both silver and gold have dropped in price dramatically recently but silver's rate of descent has been worse. The gold-silver price ratio is just under 55 today. I think this is moving toward the high side. That means that I think gold is overvalued compared to silver. So, if precious metals rebound, I think silver has a chance of rebounding more strongly than gold in percentage terms.
In the not too distant past, silver hit $10 per Troy ounce and that needs to be taken into account. But since then, we've also seen $50 per Troy ounce. So, maybe we're at a regrouping point where accumulating silver is appropriate. I plan to do so. But don't expect miracles overnight!
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