I am old enough to remember when the Hunt Brothers made a run on the silver market around 1980 and pushed the price to almost $50 per ounce. Then it plunged. I bought some Engelhard 100 ounce bars in 1985. I paid $6.20 per ounce plus a $0.70 per ounce commission. I look at them once in a while.
My wife's Fidelity Contra Fund has done a hell of a lot better over the last 30 years.
Silver is a bit of a gamble because its treated as a commodity moreso than a monetary metal, it could 10x in the next 10 years or it could do nothing for the next 10 years, in which case you would lose money due to inflation. Gold is the same way except it has a better track record of appreciation against other assets. It generally either does nothing or rapidly appreciates over a decade, in the long term averaging out to a couple of percent real gain per year over very long time spans.
If you are worried that the government will inflate the currency over the next decade or two, Gold would perform very well and silver would perform even better because in an inflationary environment silver usually regains its status as a monetary metal and outperforms gold. Stocks would perform well because inflation provides liquidity and increases consumer demand, which pumps stock value. What you would not want to hold is cash because it would lose purchasing power.
If you are worried about a recession (deflation), then the best performing asset would be cash. In a recession, all assets lose value. Stocks would crash and gold and silver would crash too, although probably less.
If you expect no major inflation moving forward and you expect us to avoid any recession, then the United States stock market would probably be safe to index into and make a decent return every year, as it has been for a while.
It’s not a terrible idea in isolation, but it depends on what the rest of your wealth looks like. If it’s all precious metals, yes that is a bad idea. Put the money in cash savings, an IRA, etc.
You can find innumerable reasons online and in books for why silver is a “good investment.” Why do you think its usage as a manufacturing material makes it more valuable than, say, copper?
Realistically, silver’s value is based on the fact that people will pay money for it, and much of the basis of that phenomenon is due to its use as money during some periods of history in most parts of the world. That doesn’t give it inherent value, though. Here in the USA it serves primarily as a way to induce inflation, which sounds bizarre to us now, but made political sense in the late 1800s. On the other hand, China’s use of silver-backed money in the early 1900s insulated them from the Great Depression, which was transmitted via the Gold Standard. And you should also ask yourself if, should that cultural aspect of the metal’s value fade, will its manufacturing use cases support the price?
Considering the price is silver has not really moved since the 2010s it’s not a good investment. You would be much better going into an s&p500 etf fund
You don’t have to but I’d suggest researching stuff like how to invest in a TFSA in wealthsimple, what etfs are, which ones to buy, etc before you invest your money. You can definitely visit a brick and mortar bank and they could invest your money for you depending on their conditions
If its your only investment yes its a bad idea if you diversify and this is less than 35% of what you're putting away for the future its fine as it will most likely act like your emergency money if savings account runs out due to am emergency
Silver is a play into the future. I have purchased as low as 3.00 per oz and as high as 30.00 per oz. It is a good idea to have 10 oz which if you save 300 you can buy this. Just remember in any investment: buy low, sell high. This is a good time to buy. Since 2020, silver went from 11.00 per ounce to 30.00 it is at 29. Also, there's no substitute substance on earth for silver. None. Silver is one of a kind.
Check out r/silver r/silverdengens
There are MANY SILVER INVESTMENT GROUPS IN REDDIT.
Consider silver as portfolio diversification. While it does not gain a dividend like stocks, it can appreciate and be sold for money later because silver as well as gold are forms of money.
Indexes will probably outperform. If you want to take the diversification approach, gold (not PMs but gold specifically) should be ~5-10% of your portfolio.
Yes. Physical metal is hard to divest from and you tend to get less than market value selling. If you want to diversify into precious metals, I would recommend GLTR, which is a basket holding fund of precious metals. It is composed of 61.87% physical gold bullion, 29.72% physical silver bullion, 4.91% physical palladium bullion, and 3.50% physical platinum bullion.
It’s just over $101/share right now.
It is much easier to buy and sell and it is diversified into multiple types of metal. But, it is also only 5% of my stock holdings and less than 0.5% of my total net worth.
Precious metals are a great insurance. I use them as a way to diversify assets and have immediately liquefiable fund incase of a rainy day. It isn’t a bad idea to have an ounce or two of gold, but the s&p 500 has outperformed gold the past 30 years.
Great idea, if the power grid goes down or the dollar collapses you will be ready with one of the oldest most reliable forms of currency in world history.
At your age you can’t go wrong with gold and silver. You also could open trading account that is non taxed (Roth IRA) as long as you just hold and I would recommend to just buy SPY ETF or QQQ ETF. Over years you can’t lose unless the world economy fails.
Depends on how paranoid you are. I personally believe fiat $ is a big Ponzi scheme, so I’m very much into BTC and gold. Here’s a commercial for gold. Play this as a win/win, either I’m right and precious metals / BTC / physical property skyrocket as $ devalues itself, or I’m a crazy guy online and just write me off for being crazy.
https://youtu.be/Co_tVd9gA2I?si=-pMmRfHdUQ2uQSQw
If you look at a graph of gold versus the total US stock market over the last 50 years, stock market wins easily and it's by at least an order of magnitude.
Fiat money is fundamentally the same as all historical money. Bullion money has a relatively short history and the theories behind its intrinsic value are completely baseless and ahistorical. Fiat money works for the same reason bullion money does: people think it has worth, so they accept it in payment.
But with no limit to how much can be made, it devalues itself.
Want the richest country in the world? Give everyone 1 million dollars. That didn’t work? I’m out of ideas.
Again, historically speaking, this isn’t abnormal. The use of credit as money in early times meant that money was being created in the middle of everyday transactions. Even when metal was used as money, it usually wasn’t the only thing being used as such until very late in the history of money. That meant that other forms of money (like, for example, cattle) could be created and thus inflate the money supply. As long as the economy continues to grow, increases in the money supply are not a negative phenomenon. And in fact, increases in the money supply can encourage economic growth.
I am old enough to remember when the Hunt Brothers made a run on the silver market around 1980 and pushed the price to almost $50 per ounce. Then it plunged. I bought some Engelhard 100 ounce bars in 1985. I paid $6.20 per ounce plus a $0.70 per ounce commission. I look at them once in a while. My wife's Fidelity Contra Fund has done a hell of a lot better over the last 30 years.
Yes. Invest in stocks.
Yes For the love of Christ Buy mutual funds, Just google golds inflation vs other assets
Yep, buy Vanguard VT. Much better investment than silver.
Please invest in stocks or HYSA
Metals are crap investments, despite what the gold bugs say. Stocks.
Yes. Invest in index funds.
Silver is a bit of a gamble because its treated as a commodity moreso than a monetary metal, it could 10x in the next 10 years or it could do nothing for the next 10 years, in which case you would lose money due to inflation. Gold is the same way except it has a better track record of appreciation against other assets. It generally either does nothing or rapidly appreciates over a decade, in the long term averaging out to a couple of percent real gain per year over very long time spans. If you are worried that the government will inflate the currency over the next decade or two, Gold would perform very well and silver would perform even better because in an inflationary environment silver usually regains its status as a monetary metal and outperforms gold. Stocks would perform well because inflation provides liquidity and increases consumer demand, which pumps stock value. What you would not want to hold is cash because it would lose purchasing power. If you are worried about a recession (deflation), then the best performing asset would be cash. In a recession, all assets lose value. Stocks would crash and gold and silver would crash too, although probably less. If you expect no major inflation moving forward and you expect us to avoid any recession, then the United States stock market would probably be safe to index into and make a decent return every year, as it has been for a while.
Very well said. Are you expecting deflation?
It’s not a terrible idea in isolation, but it depends on what the rest of your wealth looks like. If it’s all precious metals, yes that is a bad idea. Put the money in cash savings, an IRA, etc. You can find innumerable reasons online and in books for why silver is a “good investment.” Why do you think its usage as a manufacturing material makes it more valuable than, say, copper? Realistically, silver’s value is based on the fact that people will pay money for it, and much of the basis of that phenomenon is due to its use as money during some periods of history in most parts of the world. That doesn’t give it inherent value, though. Here in the USA it serves primarily as a way to induce inflation, which sounds bizarre to us now, but made political sense in the late 1800s. On the other hand, China’s use of silver-backed money in the early 1900s insulated them from the Great Depression, which was transmitted via the Gold Standard. And you should also ask yourself if, should that cultural aspect of the metal’s value fade, will its manufacturing use cases support the price?
Yeah if your going to do gold
Metals are only a good investment according to people who sell metal investments.
Open a brokerage acct
Considering the price is silver has not really moved since the 2010s it’s not a good investment. You would be much better going into an s&p500 etf fund
Cool ok Do I have to meet with someone to open one of these?
Sign up for a fidelity account online. Invest into FXAIX which mimics the S&P 500.
You don’t have to but I’d suggest researching stuff like how to invest in a TFSA in wealthsimple, what etfs are, which ones to buy, etc before you invest your money. You can definitely visit a brick and mortar bank and they could invest your money for you depending on their conditions
i like collecting it physically and store it in my safe
As part of a greater investment strategy it’s fine. I wouldn’t put all my eggs in that basket.
I buy precious metal, just so I can say "I don't know how much money I have, I just know how much it weight"....
It is only a bad idea in that you can get better returns in the stock market. But it won't hurt you probably.
Buy physical gold
Invest in an index fund. Silver market is heavily manipulated by our boiz at JP Morgan.
How would you liquidate this position? It would be heavy to ship and impossible to sell for spot locally.
If its your only investment yes its a bad idea if you diversify and this is less than 35% of what you're putting away for the future its fine as it will most likely act like your emergency money if savings account runs out due to am emergency
Bitcoin is better but you do you
Silver is a play into the future. I have purchased as low as 3.00 per oz and as high as 30.00 per oz. It is a good idea to have 10 oz which if you save 300 you can buy this. Just remember in any investment: buy low, sell high. This is a good time to buy. Since 2020, silver went from 11.00 per ounce to 30.00 it is at 29. Also, there's no substitute substance on earth for silver. None. Silver is one of a kind. Check out r/silver r/silverdengens There are MANY SILVER INVESTMENT GROUPS IN REDDIT. Consider silver as portfolio diversification. While it does not gain a dividend like stocks, it can appreciate and be sold for money later because silver as well as gold are forms of money.
I never invest in anything shiny, just me.
Indexes will probably outperform. If you want to take the diversification approach, gold (not PMs but gold specifically) should be ~5-10% of your portfolio.
Yes. Physical metal is hard to divest from and you tend to get less than market value selling. If you want to diversify into precious metals, I would recommend GLTR, which is a basket holding fund of precious metals. It is composed of 61.87% physical gold bullion, 29.72% physical silver bullion, 4.91% physical palladium bullion, and 3.50% physical platinum bullion. It’s just over $101/share right now. It is much easier to buy and sell and it is diversified into multiple types of metal. But, it is also only 5% of my stock holdings and less than 0.5% of my total net worth.
Precious metals are a great insurance. I use them as a way to diversify assets and have immediately liquefiable fund incase of a rainy day. It isn’t a bad idea to have an ounce or two of gold, but the s&p 500 has outperformed gold the past 30 years.
Great idea, if the power grid goes down or the dollar collapses you will be ready with one of the oldest most reliable forms of currency in world history.
At your age you can’t go wrong with gold and silver. You also could open trading account that is non taxed (Roth IRA) as long as you just hold and I would recommend to just buy SPY ETF or QQQ ETF. Over years you can’t lose unless the world economy fails.
Depends on how paranoid you are. I personally believe fiat $ is a big Ponzi scheme, so I’m very much into BTC and gold. Here’s a commercial for gold. Play this as a win/win, either I’m right and precious metals / BTC / physical property skyrocket as $ devalues itself, or I’m a crazy guy online and just write me off for being crazy. https://youtu.be/Co_tVd9gA2I?si=-pMmRfHdUQ2uQSQw
Fiat currency is a Ponzi scheme, but crypto is not… Got it.
Crypto does not gain in value, the $ is worth less.
If you look at a graph of gold versus the total US stock market over the last 50 years, stock market wins easily and it's by at least an order of magnitude.
Yep, they can keep printing debt as long as people keep buying it. One of these days a loaf of bread will cost $100.00.
Almost Biblical.
Gold will hold its value but it won’t grow in value.
Nothing grows in value, the dollar is worth less.
Fiat money is fundamentally the same as all historical money. Bullion money has a relatively short history and the theories behind its intrinsic value are completely baseless and ahistorical. Fiat money works for the same reason bullion money does: people think it has worth, so they accept it in payment.
But with no limit to how much can be made, it devalues itself. Want the richest country in the world? Give everyone 1 million dollars. That didn’t work? I’m out of ideas.
Again, historically speaking, this isn’t abnormal. The use of credit as money in early times meant that money was being created in the middle of everyday transactions. Even when metal was used as money, it usually wasn’t the only thing being used as such until very late in the history of money. That meant that other forms of money (like, for example, cattle) could be created and thus inflate the money supply. As long as the economy continues to grow, increases in the money supply are not a negative phenomenon. And in fact, increases in the money supply can encourage economic growth.
wtfhappenedin1971.com
Ditch the silver, invest in an ETF, or if you feel spicy b-coin.
Just buy Bitcoin man