SIGforum.com Main Page The Lounge Bought two more pounds of Silver today...my thoughts on precious metals
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Member |
I'm still investing in my retirement plans...plus I'm 10 years away from my military "pension" and some % of medical as well. Probably about 125-150% of base pay overall by the time I'm done... With that said, I have land already in GA, nearly 4 acres on a 17 acre family-owned plot...so if I don't buy more I have my land to move to when I retire. Any dollar I've saved is worth less than it was yesterday. The only tangible assets I had otherwise were my guns and ammo. So I'm up to several pounds of silver and about a pound of gold. Even if they don't increase from the average this year, I still feel better about having those than my cash. Maybe I'm being a little doomsdayish when I think about being able to barter with them at a later date but even if I'll sale them in 10-30 years I think it'll still be better than saving cash at this point. I'm not putting my investment money into metals. Instead I'm putting my "fun" money into metals. And for me that's a better investment at this time. I don't know if yall will agree but I feel good about it at this time. Only time will tell if that's a foolish confidence or not. 10 years to retirement! Just waiting! | ||
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| Member |
I feel good on my silver position, mainly becuase I was able to acquire it sub $10 and in the $teens. I have 50x silver to gold. Trying to get that ratio lower but gold keeps going up and the premiums on fractional is horrible. I don’t buy any mining stocks, my precious metals are all physical in my posession. I wouldn’t recommend more than 10% of net worth in precious metals. But if you have no debt and guaranteed pension etc maybe more if your comfortable with it. | |||
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| Smarter than the average bear |
Like any investment or speculation, you can make or lose money in the short run with gold or silver. In the long run, both stocks and bonds have outperformed gold; not sure about silver, but I’d guess it’s the same. As far as barter material in some end of world scenario, I personally think you’re much better off holding guns and ammo. | |||
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| Member |
I have about 30lbs of silver and I don’t know if I should sell it or hold on to it for a while. | |||
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| Member |
Even with the greater return, do you feel the difference, in that portion of your investments is worth not having the tangible asset? 10 years to retirement! Just waiting! | |||
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| Smarter than the average bear |
I possess guns and ammo, so I do have a tangible asset. I just chose ammo instead of gold or silver. | |||
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| Member |
Gold may be useful if/when society resets. But, The Government can seize it or just outlaw its use. I am not sure where you could place assets and be safe. Real estate is only yours as long as the taxes are paid. Ammo is too heavy to move and/or secure when you are away. Food is perishable and also hard to move/hide/secure. Wife and I have had this conversation. What has lasting value? Welcome to barter town/Book of Eli. The collapse of the dollar/hyper inflation is likely coming. A digital currency will be pitched to the masses and IRA's will likely be targeted as only the wealthy have them. With the masses having no retirement or morals and ethics, it is a short jump to confiscate from the "wealthy" 40 percent. The truly wealthy and connected will not be affected Wish I had an answer | |||
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| Experienced Slacker |
There's a certain point where prepping with anything becomes storage for someone else with more ability to take than you have ability to defend. I am not faulting anyone for stashing things away for emergencies, or even kinda long term lean times. Just remember, for something to have value -- beyond personal use, you have to have other people willing to trade for or buy it. | |||
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| Green grass and high tides  |
A pound of gold  "Practice like you want to play in the game" | |||
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His Royal Hiney |
I have a question and a heads up. I can't imagine you buy whole pounds of silver right? What's your average unit size? I do envy you. I thought about buying gold when it was at $300 an ounce early 2000s to 2005. Missed that boat and thought it was high at $1600. I finally bought some a couple of months ago at $2400 and now it's $2500. The heads up is that being you're 10 years from retirement. And I don't know how old you'll be, now is the perfect time to start planning your cash flow in the early years of your retirement to minimize your taxes in retirement. If you have the cash flow and are qualified, I hope you're funding your Roth IRA accounts as in 10 years you have the option of pulling from those Roth IRAs without having to report the cash to anyone. What that means is that if you're going to retire before you're 65 and qualified for Medicare, you can pull money from your Roth accounts while qualifying for subsidies to cover your health insurance. "It did not really matter what we expected from life, but rather what life expected from us. We needed to stop asking about the meaning of life, and instead to think of ourselves as those who were being questioned by life – daily and hourly. Our answer must consist not in talk and meditation, but in right action and in right conduct. Life ultimately means taking the responsibility to find the right answer to its problems and to fulfill the tasks which it constantly sets for each individual." Viktor Frankl, Man's Search for Meaning, 1946. | |||
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Knowing is Half the Battle |
I had a small collection of silver from my high school days going to farm auctions with my dad but I went gangbusters in the 2011-ish silver run up and am still bag holding from then. There are many others. I think silver will have a lot of trouble going much over $30/oz because the bag holders will start selling then. Gold is a different story. The last time I bought gold was in 2012, 2014, and 2018 when I bought a 1/10th AGE for each of our kids when they were born. I should have bought more, but the S&P500 would have outperformed it anyway. I did buy my first 1 oz gold coin this month via Costco, they have a really slick online process and are cheaper than anywhere else. If you are Executive you get 2% rewards back plus whatever CC points you are running. I picked up a 2024 Buffalo for $2510 before my 3% rewards back between Costco and my CC, so I was getting it at less than spot then. They rotate the offerings a couple times a week, I don't think actually sell out, they just kill the order option. You can always find their current offering on the Sports Memorabilia category: Costco BullionThis message has been edited. Last edited by: Scuba Steve Sig, | |||
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| Ammoholic |
Your mileage may vary, bit I don’t think of precious metals as an investment. I think of precious metals (including lead & brass) as insurance. | |||
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goodheart |
I have a precious metals IRA; invested about 1/2 in gold, 1/2 in silver (Canada twin maple leaf $2 coins). Since purchase, gold has done very well, silver has not risen much at all. I'm thinking about getting out of the silver portion. _________________________ “ What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.”— Lord Melbourne | |||
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| Conservative Behind Enemy Lines  |
I buy silver not because I'll ever see any profit in it, but because as the dollar gets killed off by the Democrats, silver will always retain value. | |||
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| Member |
Yep. | |||
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| Member |
Gold and silver are both up about 21.3% YTD so there's that. ____________ Pace | |||
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| Member |
At the end of the day hawking silver and gold is a business. They’ve been doing it forever. Barney Miller “The Sighting” Seas 4 Ep 22 / Airdate: May 11, 1978 Phillip Brauer has been warned of an imminent global financial meltdown that would reduce paper monetary assets to a value less than the paper itself. ____________________________________________________ The butcher with the sharpest knife has the warmest heart. | |||
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| Ammoholic |
Gold and silver are up 21.3% YTD when measured in fiat dollars. Do gold and silver buy 21.3% more stuff of tangible value? | |||
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Not quite right |
I don't hold silver. Too bulky and there are storage issues. But if I had as many pounds of silver as I do of ammo... but I digress. All my precious metal hoarding is just gold. 1oz Maple leafs and I paid just over $250oz for them. I've been kicking myself ever since I almost jumped on doubling my holdings when it dipped below $1,100. The nice thing about gold is you can hold a quarter of a million dollars worth of it in one hand. With silver you'd fill a whole room with the same dollar amount. | |||
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| Not quite right |
Did you mean $2,510? | |||
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SIGforum.com Main Page The Lounge Bought two more pounds of Silver today...my thoughts on precious metals
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