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Is silver a good investment right now?
Posted on 5/30/24 at 10:43 am
Posted on 5/30/24 at 10:43 am
My step-son seems to think so and invests in it. I'm on the fence and I'm a non investor. All my extra $$ goes back into the farm, fertilizer, spare parts etc. Thanks
9
Posted on 5/30/24 at 11:24 am to Chief One Word
Sounds like you’re both preparing for doomsday, just in different ways.
Posted on 5/30/24 at 11:44 am to Chief One Word
I sold mine 2 weeks ago. Held it for 11 years and barely broke even. Honestly I probably lost $400 total out of 175 oz.
Posted on 5/30/24 at 11:49 am to Chief One Word
in what way?
mining stock? ETF? trade futures? or physical?
here is a futures chart
LINK
shite, nevermind then if you do not comprehend what i discussed above .
mining stock? ETF? trade futures? or physical?
here is a futures chart
LINK
quote:
and I'm a non investor.
shite, nevermind then if you do not comprehend what i discussed above .
Posted on 5/30/24 at 12:25 pm to SouthPlains
quote:
Sounds like you’re both preparing for doomsday, just in different ways.
Sounds to me like he’s running a farm business.
quote:
All my extra $$ goes back into the farm, fertilizer, spare parts etc.
Posted on 5/30/24 at 12:41 pm to Chief One Word
I have a decent amount, but it isn’t a good investment, it’s only insurance and a retention of wealth and buying power. If it becomes a good investment, then we have bigger problems to deal with..
Posted on 5/30/24 at 2:11 pm to CamdenTiger
quote:
I have a decent amount, but it isn’t a good investment, it’s only insurance and a retention of wealth and buying power. If it becomes a good investment, then we have bigger problems to deal with..
This is the reason I have some gold, silver and platinum. In no way do I look at it as an investment. It is just a way of putting some of your wealth in hard assets.
Oh, and storing physical silver gets to be problematic given the low price per ounce.
Posted on 5/30/24 at 2:18 pm to SloaneRanger
I have done well trading mining stocks especially AG.
Posted on 5/30/24 at 5:47 pm to sonoma8
11 years and the shite is still 40% lower than all time highs.
Posted on 5/30/24 at 6:12 pm to Chief One Word
quote:
All my extra $$ goes back into the farm, fertilizer, spare parts etc.
If this is NOT a troll then NO it’s not a good investment for you. Need sooooo much more info i.e. age, family, income, retirement, etc etc.
Posted on 5/31/24 at 9:32 am to Chief One Word
No, metals are rarely if ever a good "investment"
Posted on 5/31/24 at 9:40 am to Chief One Word
Precious metals are a pretty silly investment based on your lack of exposure to any other asset class. Don’t invest in silver or gold.
Posted on 5/31/24 at 10:36 am to TigerTatorTots
quote:
No, metals are rarely if ever a good "investment"
he can make money trading futures but that is out of his league.
Posted on 5/31/24 at 1:50 pm to Chief One Word
Rather than investing in the metal (which is a logistical PITA), invest in high-end third-party graded collector grade coins.
You still have to do your homework but a graded & certified 1907 St Gaudens Wire Rim variety $20 US Gold Piece in Uncirculated State will long-term out-perform raw metals and occupies the space of 10 baseball cards.
I've been collecting rare coins and bullion for 50+ years.
Had I focused the money I've invested in the types of coins I'm referring to here, ($10k each and up) over the years, instead of the $100k I've got, I'd have $500k in value.
Still the $500k would be much less than if I'd have instead not invested in anything coins or metal but invested the same amount in a Dow Index fund.
Regular US silver or gold coins for their silver or gold are a long-term loser.
High grade certified collector coins are the only way to go if you must choose something in precious metal.
Plus you get to look at this $60k piece of art:
You still have to do your homework but a graded & certified 1907 St Gaudens Wire Rim variety $20 US Gold Piece in Uncirculated State will long-term out-perform raw metals and occupies the space of 10 baseball cards.
I've been collecting rare coins and bullion for 50+ years.
Had I focused the money I've invested in the types of coins I'm referring to here, ($10k each and up) over the years, instead of the $100k I've got, I'd have $500k in value.
Still the $500k would be much less than if I'd have instead not invested in anything coins or metal but invested the same amount in a Dow Index fund.
Regular US silver or gold coins for their silver or gold are a long-term loser.
High grade certified collector coins are the only way to go if you must choose something in precious metal.
Plus you get to look at this $60k piece of art:
Posted on 5/31/24 at 7:40 pm to Chief One Word
If you want to double your money by december…. Yes load up on silver miner stocks right now
Posted on 6/1/24 at 10:07 am to CamdenTiger
quote:.
I have a decent amount, but it isn’t a good investment, it’s only insurance and a retention of wealth and buying power. If it becomes a good investment, then we have bigger problems to deal with..
I don’t know of anyone who’s paying attention to monetary policy who DOESN’T ALREADY see that we have bigger problems to deal with, and that they manifest in the form of a bubble. Which is plenty of reason to own an asset that is tied less to the failing US fiat
Posted on 6/1/24 at 12:57 pm to soccerfüt
quote:
Had I focused the money I've invested in the types of coins I'm referring to here, ($10k each and up) over the years, instead of the $100k I've got, I'd have $500k in value. Still the $500k would be much less than if I'd have instead not invested in anything coins or metal but invested the same amount in a Dow Index fund.
Can numismatic coins hold a value during hard times?
Posted on 6/1/24 at 8:21 pm to dstone12
quote:
Can numismatic coins hold a value during hard times?
If you have tin snips and can cut chunks off to buy a chicken or the like. It's been done since time immemorial.
Posted on 6/3/24 at 6:34 am to OccamsStubble
Well said, Stubble …
Physical metals are insurance against the failure of fiat currencies, which are 100% guaranteed of failure throughout history.
It is a wise choice to have physical metals as a portion of every diversified portfolio.
Just my dos centavos, but golds’ next leg will take it to $2,680/oz once the current consolidation has completed, likely by Q1’25 ish. Silver will likely outperform over the same period, but I don’t have my targets completed yet for silver.
Good luck with your decision … good fortunes
Physical metals are insurance against the failure of fiat currencies, which are 100% guaranteed of failure throughout history.
It is a wise choice to have physical metals as a portion of every diversified portfolio.
quote:
Sturdy central bank gold buying since 2009 and a rising gold price has grown the precious metal’s share of global international reserves to the detriment of fiat currencies.
By the end of 2023 gold surpassed the euro and the next fiat currency to be challenged is the US dollar.
Just my dos centavos, but golds’ next leg will take it to $2,680/oz once the current consolidation has completed, likely by Q1’25 ish. Silver will likely outperform over the same period, but I don’t have my targets completed yet for silver.
Good luck with your decision … good fortunes
This post was edited on 6/4/24 at 1:01 pm
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