Thoughts on Gold and Silver in today's Market

A while back I started snagging silver rounds and 10 oz bars, and occasionally 1/2 oz gold trinkets (coins and bars) purely as a secondary savings, buying only when premium prices were reasonable over spot price.
Always using extra money, it seemed like a safe way to put something away for the future without sticking it in the bank, and a hedge against inflation.
And they're pretty...

Anyone else?

Yes, have a bit of silver saved for the bartering days acoming. Although I tell you what, it is easy to be greedy about actual precious metals- looking at them makes me feel all scroogey and rich.

Silver is tough. Spot means nothing on silver. You will be charged spot plus every time. To make anything worthwhile it has to move significantly. If you bought in 95, I think it was $5/oz, and sold now be worth it. If you're buying for investing, I think you need to bold it for a long time. If you're buying for shtf buy smaller denominations.

I'm not buying for investing. (But I wouldn't avoid making a few bucks if the option presented itself). Mostly I'm buying for SHTF and basically another way to save cash for a rainy day that doesn't involve a bank. Not that I'm even remotely going to empty out my savings, but just another option, just in case...
I've switched most of my retirement funds to safer options as I close in on retirement in 638 days (who's counting?)

Just mostly a not keeping all the eggs in one basket.

been collecting coins since i was 8 yrs old. My first job was at a coin stand at the local farmers market in the early 80's.

waytomany?s wrote: ↑

Sat. Apr. 08, 2023 8:22 am

Silver is tough. Spot means nothing on silver. You will be charged spot plus every time. To make anything worthwhile it has to move significantly. If you bought in 95, I think it was $5/oz, and sold now be worth it. If you're buying for investing, I think you need to bold it for a long time. If you're buying for shtf buy smaller denominations.

I have some silver eagles that i paid 8 dollars each for in the late 90's
They are over 32 dollars each now for the raw coin

if you don't get into the bidding on ebay you can get some silver for a few dollars over spot, also check walmart.com. there's a bullion dealer selling on their website for 3.50 an ounce over spot (that's about as low as you will find unless you are a silver dealer buying silver from customers)
I have a friend that is a coin dealer, he buys silver at the coin shows.

My Money is on Copper. After that Nickel, Cobalt and Lithium. We need at least 1000% more copper in the next few yrs and possible 4000% more. It takes 16 years to open a mine(First you must discover a source) and start producing more copper. Forget about doing it in the US. The same people who are mandating all these EVs are against and cancelling mine projects.

"Biden Administration Revokes Mining Leases Near Minnesota's Boundary Waters"
https://news.yahoo.com/biden-administration-revok ... 36427.html

I always know where the price of copper is going as i buy copper wire for house wiring on a regular basis. Im using up the last of my 12-2 wire i bought about 2 yrs ago(The good old days) at $59 a roll. Its now $159 a roll and has been for the past about yr and a half. I think it will go up more before it ever goes down again. I paid $41 a roll for 14-2 and thatq is now $124 a roll. Worse yet, even when it was cheap iv had thieves break into a house i was working on and cut all the new wiring out of the walls before the drywall went up.

k-2 wrote: ↑

Sat. Apr. 08, 2023 12:24 pm

My Money is on Copper. After that Nickel, Cobalt and Lithium. We need at least 1000% more copper in the next few yrs and possible 4000% more. It takes 16 years to open a mine(First you must discover a source) and start producing more copper. Forget about doing it in the US. The same people who are mandating all these EVs are against and cancelling any new mine projects.

"Biden Administration Revokes Mining Leases Near Minnesota's Boundary Waters"
https://news.yahoo.com/biden-administration-revok ... 36427.html

It wasnt just Biden who was against that. The mine would have been upstream of the Boundry Waters area. Who knows, maybe some day it will happen but right now its not worth the possible downside risk. Almost every group was against it except those wanting political or financial gain from it.

But I do agree copper and the others you mentioned could be very good investments. Im surprised scrap copper have not surged the last few years. it bounces a little but with all the copper needed for green energy it seems like it would be higher. Its sure went up for wiring a house, as has been mentioned.

If the SHTF I dont want to be bartering anything. I just want to stay away from all the crazies.

Paper wrote: ↑

Sat. Apr. 08, 2023 9:47 am

Mostly I'm buying for SHTF...
Just mostly a not keeping all the eggs in one basket.

SHTF ? Whatcha ya gonna do, club people over the head with a 5 oz. gold piece? Ow.

Diversification is an OK reason. One can buy stock in gold companies as an alternate too.

I suppose for SHTF one would want farming land and guns and ammo. And toilet paper. And keeping up the full collection of Steven Seagal movies updated for future generations knowledge of the arts.

lincolnmania wrote: ↑

Sat. Apr. 08, 2023 10:45 am

I have some silver eagles that i paid 8 dollars each for in the late 90's
They are over 32 dollars each now for the raw coin

Hear about the employer who was paying his employees in $25 gold coins ? Trying to tell the IRS he paid employees $50/month , cause the coins were $25 currency ?

IRS did not like that. He got dinged.

Still buying on the dips (the last couple of weeks were some good buying opportunities). Gold and silver, mostly silver since the Gold/Silver ratio is 85-1.
But I'm also still pumping close to the max into my 401K, have a couple other Roth IRA's and 2 homes that are paid for.
Tick tick tick

443 days and counting.

Consider a gold stock CXBMF.
CXBMF Calibre Mining

warminmn wrote: ↑

Sat. Apr. 08, 2023 2:01 pm

If the SHTF I dont want to be bartering anything. I just want to stay away from all the crazies.

Ill second that. Its a damn shame we even have to worry about things like that.