WHAT TO BUY GOLD OR SILVER

[trdking]

As an investment, the smaller value has to go up a lot less to get you your percentage. If it falls it will hurt you less. A very old wise man told me years ago that if gold is at 600 an oz it has to go to 1200 to double your money but if silver is at 5$ it only has to go to ten Makes good sense

 

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[Idahodutch]

As an investment, the smaller value has to go up a lot less to get you your percentage. If it falls it will hurt you less. A very old wise man told me years ago that if gold is at 600 an oz it has to go to 1200 to double your money but if silver is at 5$ it only has to go to ten Makes good sense

Randy, good words.
From my limited experience, silver is much more affordable, but be forewarned. . . It is also more volatile than gold, or at least has been over the past 50 years. Silver imo, has enormous potential. I have a feeling that this coming run, that has barely even started, is going to really make gold hard to afford to buy. If gold doubles over the next year or two, and you haven't acquired any yet, do you think you would then?
I played it safe and got some of both as often as budgets allowed.
Just to clarify, were talking the physical coins or bars of gold and silver.

I know it's not for everyone, but it is an excellent way to save real money. If you really need to liquidate it for something, it is the most liquid asset that there is. You can easily exchange it for local currency anywhere in the world, and most likely, for centuries to come, with no problem. I do not know of any currency that is not gold or silver, that the same could be said for. If it is my savings, I want it to be the best form, for today, tomorrow and whenever.
I do know guys that made lots and lots of digits, but they used those digits to acquire physical metal. They were fortunate, but in reality, so was I, because at least I have some.
Everyone has to make their own decision, and I respect that.

 

[trdking]

Randy, good words.
From my limited experience, silver is much more affordable, but be forewarned. . . It is also more volatile than gold, or at least has been over the past 50 years. Silver imo, has enormous potential. I have a feeling that this coming run, that has barely even started, is going to really make gold hard to afford to buy. If gold doubles over the next year or two, and you haven't acquired any yet, do you think you would then?
I played it safe and got some of both as often as budgets allowed.
Just to clarify, were talking the physical coins or bars of gold and silver.

I know it's not for everyone, but it is an excellent way to save real money. If you really need to liquidate it for something, it is the most liquid asset that there is. You can easily exchange it for local currency anywhere in the world, and most likely, for centuries to come, with no problem. I do not know of any currency that is not gold or silver, that the same could be said for. If it is my savings, I want it to be the best form, for today, tomorrow and whenever.
I do know guys that made lots and lots of digits, but they used those digits to acquire physical metal. They were fortunate, but in reality, so was I, because at least I have some.
Everyone has to make their own decision, and I respect that.

I also own both, I don't really buy it as an investment but I bought a lot of silver at 5 - 7 dollars an oz when it was that cheap. I also bought a lot of gold at 275 to 350 and on. I still buy it at todays prices and it all evens itself out. It was an investment it turns out. The reason I buy commodities is to off set currency. If our dollar tumbles, precious metals go up and if it is a total bust on our currency the precious metals become the currency. Continuously buy small affordable amounts. Buy it at the very best prices you can and hold it for the rainy day. BTW the best silver to buy is worn out US silver and canadian currency that has no numismatic value. You can get back of spot deals and if it ever becomes currency it has consistent weights in small values so you won't have to take a hack saw to your bars to trade for small items

 

[Idahodutch]

I also own both, I don't really buy it as an investment but I bought a lot of silver at 5 - 7 dollars an oz when it was that cheap. I also bought a lot of gold at 275 to 350 and on. I still buy it at todays prices and it all evens itself out. It was an investment it turns out. The reason I buy commodities is to off set currency. If our dollar tumbles, precious metals go up and if it is a total bust on our currency the precious metals become the currency. Continuously buy small affordable amounts. Buy it at the very best prices you can and hold it for the rainy day. BTW the best silver to buy is worn out US silver and canadian currency that has no numismatic value. You can get back of spot deals and if it ever becomes currency it has consistent weights in small values so you won't have to take a hack saw to your bars to trade for small items

I'm glad that it has worked out for you like it has. I had a couple of situations that solved by liquidating a good portion. Was able to work it out later to replace and add as well. But silver was a bit more than 7 by that time.
Also agree . . Good idea to have some old silver currency for a bit of diversity. Can get fractional gold same way . . Gold Sovereigns usually have small premiums and are kind of cool looking. Old Mexican gold Pesos for some diversity in fractional coins or even a way to spend less than $100 for a gold coin. Small gold bars . . 1 gram bars I think are around 60 US right now, not sure.
There is such a variety of old/new, gold/silver, coins/bars. It is a good idea for newbies to spend some time to get an idea of what they are really interested in. Highly recommend only dealing with reputable businesses unless you have testing methods. Not worth the risk imo. We worked hard for that toilet paper and don't want to be swindled out of our toilet paper.

 

[A2coins]

I buy silver plus youwill get a different reply from anyone you ask and the people who say do this dont do that if they knew what to invest in and collect they would be rich. Who knew a 70 hemi cuda covertible off the showroom floor for 5 grand would be worth millions now how many of the I know it alls haave one parked in their garage lol

 

[Idahodutch]

I buy silver plus youwill get a different reply from anyone you ask and the people who say do this dont do that if they knew what to invest in and collect they would be rich. Who knew a 70 hemi cuda covertible off the showroom floor for 5 grand would be worth millions now how many of the I know it alls haave one parked in their garage lol

Tommy,
For someone starting out, it can be difficult . . . maybe even somewhat overwhelming, trying to figure out what are the good forms of silver to hold, or perhaps . . . which forms are the easiest to liquidate if the need were to arise.
There are also varying premiums associated with different pieces. Insights from someone in the business would be fantastic, if you would be willing to share some of your experience a bit? Not asking you to post advice, just sharing a bit of experience is all
Sincerely,
Idaho Dutch

 

[A2coins]

I like to but the apmex or Mattheys bars know companies serial numbers on them for verification, some like silver coins. though they would need to be refined to use easy to liquidate . I know silver is a great conductor and is used in lots of the electronics we use today. There is just as much being thrown away every day when people toss their old electronics. Any investment comes with risk I like silver because even though it hasnt risen much in a while it hasnt fallen alot either so it holds its value like putting money away. I read many books about it it comes down to how much risk you want to take how long you want to keep your investment,,,,, turn over time. There is no one big answer usually the less risk the less payout. I wish you luck Google 10 good reasons to buy silver its a very informative article. Tommy

 

[Idahodutch]

I like to but the apmex or Mattheys bars know companies serial numbers on them for verification, some like silver coins. though they would need to be refined to use easy to liquidate . I know silver is a great conductor and is used in lots of the electronics we use today. There is just as much being thrown away every day when people toss their old electronics. Any investment comes with risk I like silver because even though it hasnt risen much in a while it hasnt fallen alot either so it holds its value like putting money away. I read many books about it it comes down to how much risk you want to take how long you want to keep your investment,,,,, turn over time. There is no one big answer usually the less risk the less payout. I wish you luck Google 10 good reasons to buy silver its a very informative article. Tommy

We picked up a 100oz Johnson Matthey poured bar over thanksgiving. The premium was about a buck over, but silver was also down a bit.
Besides. . . I liked the bar. (too bad it is not gold)

I sure would hate to get hit in the head with one of them . . . it would be like getting hit in the head with a shot put ball.
Its hard to carry more than one in each hand. . . . . anyway, glad we got it.
Idaho Dutch

 

[Timecop67]

If I had to do it over......I would put more money into platinum and gold as my silver stock is getting extremely heavy. My bank teller tried to lift my safety deposit
box but couldn't budge it. I told her it was all Gold. lol. With inflation, National debt, natural disasters and more wars on the rise.....metals are a sure thing going into the future along with guns, prepper tools, dry food etc. Stocks in my opinion are similar to Ponzi schemes....just don't want to be holding them if we ever get a repeat of the 29 crash. Some other reasons to hold metals which is money off the GRID: divorces, bankruptcies, shielding money from inheritance taxes, or Nursing home rackets.

 

[Idahodutch]

TimeCop,
Funny story about the safety deposit box

Can you imagine putting that into a back pack? If the pack held up, the back might not

When the Silver to Gold ratio swings back . . . at some point I want to trade most of the silver for gold.
Lots easier to fit into the back pack and carry if need be.
Idahodutch

 

[fistfulladirt]

Everyone should own at least one four-nines-fine gold buffalo, and also silver eagles!

 

[Megalodon]

Reading this thread, I think the responses would be more appropriate in a prepper's forum. Buying metals as an investment is like buying a commercial property storage facility as an investment - but refusing to rent out the units, just to sit on the "investment" waiting for appreciation. Let me be clear. Metals are not investments. There is a difference between speculation in things and investing. At its best, holding metals can be a hedge against a market crash. But such crashes are rare. Its been 90 years since the 1929 market crash and how many people have failed to invest, and, as a result, have failed to grow wealth, since then, due to fear of such an unlikely occurrence. In addition, those who lost the most 90 years ago were those who borrowed money to invest - which is a foolish practice. There are a few who advocate for holding a small % of metals in an otherwise diversified portfolio as a hedge - but no responsible advisor would ever suggest more than 5%, if that much.

To claim that owning a share of a good company is a "ponzi scheme" shows the depth of ignorance about investing. Look at the products and services that you consider vital. Do you have a cell phone with a provider? Is that company a ponzi scheme? And if so, why would you knowingly participate in a crime. In reality, you recognize that it is a service you desire and for which you are willing to pay a price. Because of that, I invest in those companies. So i own shares of Verizon (VZ). Note: I'm NOT making specific stock recommendations but using this as an example. Do I hedge that investment with metals? No, because i think that is ridiculous. Instead, I hedge my Verizon stock with AT&T stock (T) - again, not recommending specific stocks - or stocks at all. If you liked telecom companies because of the dividends, its also easy to buy sector mutual funds like communications funds or telecom funds if you prefer mutual funds to individual stocks. Both have their place.

Do you have a favorite restaurant? Why do you like it and do others seem to like it as well? They are nearly all public companies and all the information you need is easily available online. I happen to like a sandwich shop called Potbelly's - but research shows that it is not profitable, so I haven't bought it. Maybe someday. What about the stores where you shop, or the clothes you like, or some of the services you use? What do your kids buy and why? Most of these are public companies and not "ponzi schemes". When you buy shares of them, you are a part owner of the company, albeit in a very small way. And some shareholders get special deals. When I owned Sturm Ruger decades ago, there was a shareholder discount, When I owned Rawlings even longer ago, there was a discount in their company store and shareholders could be introduced to ballplayers picking up their baseball bats back when they did such things. I don't like to bother athletes, but it is nice for kids.

Most people will never get ahead by collecting a small paycheck working for others. The only way to get ahead and to have any security is to live way below your means and invest every dollar above what you need to survive so you can have a bright future and retire in comfort. I taught myself in the 1960's before it was so easy to do research on the internet. Honestly, I taught myself more about real investing by the time I turned 10 years old than what I see in posts here. I saw my father work himself nearly to death around the clock for peanuts, fixing gas leaks during the day, then running dogs at a race track at night, and then washing floors at a college cafeteria in the early morning hours. Growing up in the Great Depression, he was opposed to real investing without understanding why. I also worked many physical jobs and tutored to put myself through college and grad school but always paid myself first by investing for the future.

The gov't provides incentives to real investing in the form of plans such as 401K, 401a, 403b, 457, and IRAs of several varieties that all defer taxes to a time when tax rates are more favorable to taking distributions. And then when you take distributions in retirement, you can invest your money in non-retirement accounts and the capital gains and dividends receive preferential tax treatment.

We like to look at and hold shiny things. I get that, but very few make money buying items at a high premium and selling them at wholesale - and to suggest that doing so is a rational alternative to investing is irresponsible.

 

[Idahodutch]

Reading this thread, I think the responses would be more appropriate in a prepper's forum. Buying metals as an investment is like buying a commercial property storage facility as an investment - but refusing to rent out the units, just to sit on the "investment" waiting for appreciation. Let me be clear. Metals are not investments. There is a difference between speculation in things and investing. At its best, holding metals can be a hedge against a market crash. But such crashes are rare. Its been 90 years since the 1929 market crash and how many people have failed to invest, and, as a result, have failed to grow wealth, since then, due to fear of such an unlikely occurrence. In addition, those who lost the most 90 years ago were those who borrowed money to invest - which is a foolish practice. There are a few who advocate for holding a small % of metals in an otherwise diversified portfolio as a hedge - but no responsible advisor would ever suggest more than 5%, if that much.

To claim that owning a share of a good company is a "ponzi scheme" shows the depth of ignorance about investing. Look at the products and services that you consider vital. Do you have a cell phone with a provider? Is that company a ponzi scheme? And if so, why would you knowingly participate in a crime. In reality, you recognize that it is a service you desire and for which you are willing to pay a price. Because of that, I invest in those companies. So i own shares of Verizon (VZ). Note: I'm NOT making specific stock recommendations but using this as an example. Do I hedge that investment with metals? No, because i think that is ridiculous. Instead, I hedge my Verizon stock with AT&T stock (T) - again, not recommending specific stocks - or stocks at all. If you liked telecom companies because of the dividends, its also easy to buy sector mutual funds like communications funds or telecom funds if you prefer mutual funds to individual stocks. Both have their place.

Do you have a favorite restaurant? Why do you like it and do others seem to like it as well? They are nearly all public companies and all the information you need is easily available online. I happen to like a sandwich shop called Potbelly's - but research shows that it is not profitable, so I haven't bought it. Maybe someday. What about the stores where you shop, or the clothes you like, or some of the services you use? What do your kids buy and why? Most of these are public companies and not "ponzi schemes". When you buy shares of them, you are a part owner of the company, albeit in a very small way. And some shareholders get special deals. When I owned Sturm Ruger decades ago, there was a shareholder discount, When I owned Rawlings even longer ago, there was a discount in their company store and shareholders could be introduced to ballplayers picking up their baseball bats back when they did such things. I don't like to bother athletes, but it is nice for kids.

Most people will never get ahead by collecting a small paycheck working for others. The only way to get ahead and to have any security is to live way below your means and invest every dollar above what you need to survive so you can have a bright future and retire in comfort. I taught myself in the 1960's before it was so easy to do research on the internet. Honestly, I taught myself more about real investing by the time I turned 10 years old than what I see in posts here. I saw my father work himself nearly to death around the clock for peanuts, fixing gas leaks during the day, then running dogs at a race track at night, and then washing floors at a college cafeteria in the early morning hours. Growing up in the Great Depression, he was opposed to real investing without understanding why. I also worked many physical jobs and tutored to put myself through college and grad school but always paid myself first by investing for the future.

The gov't provides incentives to real investing in the form of plans such as 401K, 401a, 403b, 457, and IRAs of several varieties that all defer taxes to a time when tax rates are more favorable to taking distributions. And then when you take distributions in retirement, you can invest your money in non-retirement accounts and the capital gains and dividends receive preferential tax treatment.

We like to look at and hold shiny things. I get that, but very few make money buying items at a high premium and selling them at wholesale - and to suggest that doing so is a rational alternative to investing is irresponsible.

That is quite the outpouring. As much as you are saying invest invest . . It sounds like you are struggling to continue to hold your views. Truth is truth. Gold and silver is money. Saving and investing are not the same thing. The OP just wanted to know a little bit about getting some gold or silver. And you sound like he should be should be listenig to you instead. No offence intended.
Sincerely, Idahodutch

 

[cudamark]

I buy silver plus youwill get a different reply from anyone you ask and the people who say do this dont do that if they knew what to invest in and collect they would be rich. Who knew a 70 hemi cuda covertible off the showroom floor for 5 grand would be worth millions now how many of the I know it alls haave one parked in their garage lol

Yeah, I know, I should have bought the convertible model......

 

[Treasureman25]

If we all would have just bought bitcoin 5 years ago none of us would be having this conversation!

 

[fistfulladirt]

If we all would have just bought bitcoin 5 years ago none of us would be having this conversation!

Buttcoin? No thanks

 

[Timecop67]

QUOTE=Megalodon;6394470]Reading this thread, I think the responses would be more appropriate in a prepper's forum. Buying metals as an investment is like buying a commercial property storage facility as an investment - but refusing to rent out the units, just to sit on the "investment" waiting for appreciation. Let me be clear. Metals are not investments. There is a difference between speculation in things and investing. At its best, holding metals can be a hedge against a market crash. But such crashes are rare. Its been 90 years since the 1929 market crash and how many people have failed to invest, and, as a result, have failed to grow wealth, since then, due to fear of such an unlikely occurrence. In addition, those who lost the most 90 years ago were those who borrowed money to invest - which is a foolish practice. There are a few who advocate for holding a small % of metals in an otherwise diversified portfolio as a hedge - but no responsible advisor would ever suggest more than 5%, if that much.

To claim that owning a share of a good company is a "ponzi scheme" shows the depth of ignorance about investing. Look at the products and services that you consider vital. Do you have a cell phone with a provider? Is that company a ponzi scheme? And if so, why would you knowingly participate in a crime. In reality, you recognize that it is a service you desire and for which you are willing to pay a price. Because of that, I invest in those companies. So i own shares of Verizon (VZ). Note: I'm NOT making specific stock recommendations but using this as an example. Do I hedge that investment with metals? No, because i think that is ridiculous. Instead, I hedge my Verizon stock with AT&T stock (T) - again, not recommending specific stocks - or stocks at all. If you liked telecom companies because of the dividends, its also easy to buy sector mutual funds like communications funds or telecom funds if you prefer mutual funds to individual stocks. Both have their place.


Most of the companies I have ever worked for have been "Legal Rackets" in one way or another. I won't go into specifics but just the way I see it and I have been around for 50 years plus. I get that your gung ho on the market but this market is way overvalued......too much debt and being propped up by the Fed, Trump & due for a large correction. Best to protect your asset base in this environment and Metals are just one store of value. Prepping. Do I see good times ahead?....Bible prophecy would predict major storms are on the horizon but you may not be one to believe. Could another crash type event happen? Absolutely but it won't play out the same way as the 1929 crash.

 

[Timecop67]

You lost me at “ Bible prophecy.”

Some of us believe in it some don't.

 

[fistfulladirt]

Some of us believe in it some don't.

Believe in what? The wording was very vague. What does weather have to do with economics?

 

[Timecop67]

Believe in what? The wording was very vague. What does weather have to do with economics?

The Bible prophecy as mentioned in "Revelation". I know it is beyond the scope of this thread but it will effect economics. Simply put
hard times ahead. The recent events in Australia have also been described as apocalyptic.