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Handling costs. If it has $28 worth of silver in it, why would anybody want to sell it to you for $28? Somebody has to pay for manufacturing, shipping and handling. That somebody is you.
I didn't ask the justification for charging it - that's what the traffic will bear. I asked the justification for paying it. Ten percent of any investment as an added expense is ridiculous.
The ask on an ounce of silver is currently $26.73; to pay $30.50 (the lowest price round easily found) is more than 14% in fees and shipping is added for orders under $500. Who would do this? And why?
[quote=Larry Caldwell;59106372]
Gold was not a bad investment for those who bought when it was $1300/toz, maybe not so great at $2000/toz. The dollar has only lost 10% in the last 5 months.
So when gold hits 3000$ will you say that 2000$ "was not a bad investment"?
I do not own gold but I have been hearing it is good to have in case of the collapse of the dollar. I am confused why gold is a better investment. I would imagine that if one invests in gold, you don’t get gold in your hands you may get a statement. But if the economy collapses and we have a SHTF situation, what good is that paper statement? Am I wrong to think this way?
people seem to think gold is real and cash is fake. the reality is that they both operate on the same principle; faith. gold isnt actually useful so it doesnt have value in a SHTF scenario. within the confines of our current system, gold generally does well when currency and the stock market doesnt. so if you want to hedge against economic turmoil, it may make sense to include gold in your investment portfolio.
Gold was not a bad investment for those who bought when it was $1300/toz, maybe not so great at $2000/toz. The dollar has only lost 10% in the last 5 months.
So when gold hits 3000$ will you say that 2000$ "was not a bad investment"?
I have way more gold than I need, which I bought when it was $175/oz. I almost sold some in '80-'82 when it hit $1000, more than the $3000 you seem to like. I decided to stay broke. I also have 17 lbs. of coin silver, which Salvation Army priced as plate because it didn't have a Sterling stamp. Back in the '60s, it was cheaper to melt down coins than buy silver.
Metal is just metal. All it does is fill up your safe deposit box. Other than a few trivial purchases, I spent my money on stuff that is actually worth something, like a home, tools, a shop, acreage, a tractor, etc. Yeah, I reload, but that's just a hobby. I shoot black powder, but that's just a hobby too.
It amazes me that most people can't tell the difference between money and wealth. Nobody in their right mind keeps their money in money, or their gold in gold.
Even investors who call gold a "barbarous relic" that "has no yield" own some.
Precious metals aren't an investment, they are an inflation hedge.
There is disagreement on how much of a person's portfolio should be in precious metals, but common figures I read vary between 1-10%. Let's say you have 100k to invest and you opt to put 90k in equities and 10k in PMs. Then the financial system more or less collapses and your 90k is gone but your 10k in PMs soars in value and is now worth $100k. You just saved your nest egg. Even if it only soars to 50k, half a nest egg is better than none.
The problem with gold and silver is that you can't eat it. If a person only had a $1000 to spend and asked me if they should buy gold or silver, depending on their circumstances, I would probably advise them to either buy long-term storage food or invest in some raised garden beds.
The other reason to own PMs is that they are portable. The government can freeze your bank account, banks can close, bitcoin can't be redeemed without internet, grid, and a functioning banking system. But most people could hide most or all of their savings under the gel soles in their shoes in the form of gold coins, and there isn't a country in the world they can't convert them into local currency.
The federal reserve note (commonly called a "dollar") has existed since around 1913, and has only existed in it's present fiat form since 1971. Gold has been money for many thousands of years, and still is. Plan accordingly.
For those who can't decide to buy more silver or more ammo, now the choice is easier - you can get both at the same time. Of course there's a price to pay. In this case the bullets won't fire and the silver bears a premium of almost 50%.
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