Posted on 01/29/2021 10:56:24 AM PST by amorphous
I bought several 100 ounce bars yesterday. Heraeus, Pan American, etc. $2575 each. I’ve been trading silver and gold with one guy for many years. He usually sells for spot plus $1.00.
www.texmetals.com
They will ship it to you, or store it in their vault and keep an online account for you like other brokers; but unlike paper silver it is an inventory of your holdings in their vault.
Imagine that. Who’da thunk metals would go up during a pandemic and a stolen election?
Good to see you’ve so far survived the pandemic! :)
You would have to be screaming out of control bullish on silver to do that; because you’ll produce a 10% penalty on the 401K withdrawal and pay maybe a 7-8% premium on your physical silver.
500 oz silver is under $15K. I don’t consider that a life changing amount of money. But if you like having 35 pounds of metal sitting around.....
Don’t get me wrong; I love silver and gold and I own both. I wish I owned more, although I am selling some silver these days. I also consider them ordinary commodities, like wheat. They just don’t go bad.
Silver is not going up or down. One ounce of silver is the same in 2021 as it was in 1821.
It’s one ounce of silver.
What has changed is the value of the dollar.
In 1821 a dollar could buy you one ounce of silver.
In 2021 it takes twenty five dollars to buy an ounce of silver.
The relative price of silver will only increase because the supply of silver will not markedly increase while the supply of dollars has skyrocketed.
Supply & demand in action.
Normally I recommend people buy silver or gold as hedges for a portion of their wealth and I strongly advise against thinking of these things as investments.
With some eight trillion dollars added to the currency supply in the past year I’m reconsidering my views and think it’s time to see silver and gold as investments AND hedges against inevitable inflation.
Provident Metals is the place I go to. They test their supply to make sure it’s not counterfeit and there is a TON of counterfeit silver from China on the market these days.
I recommend buying rounds or coins because people are mentally conditioned to view such things as money. Meaning someone who will accept a one ounce Eagle for a sale may well refuse a one ounce bar for the same transaction because they do not view it as ‘money’.
And in a SHTF scenario you’ll need people to accept your silver as currency and not just a commodity for trade.
Agree. But I believe for now silver is a better bet than gold. Even so, I recommend everyone take care of the essentials first, like long term food supplies, etc. And diversify your investments. Don’t go all in with just one sector.
Get a “Monster” box of
Silver Dollars.
I read that the bars are more liquid than coins.
I have been watching the price and want to do this soon.
I have a small 401K from a place I worked only a few years. Since I’m sixty, I was thinking about cashing it out and buying silver 1oz bars.
But how do I know that the bars are .999 silver?
Honestly, I’ve gotten so cynical that I’m concerned the bars will be silver plated. I’ve never bought metals as an investment so this is new and a little scary.
100% agreement on silver versus gold!
Old advice I received many years ago:
“In hard times you need gold to buy your neighbor’s car, his house, or his daughter. You need to have silver to buy gas, groceries, pay bills, and etc. because if you get a bag of groceries and hand over a gold coin the grocer might well say “Thank you” for the tip and keep it.”
I’ve expanded my stash based on this advice and I’ve added one ounce copper rounds which ran around $1 each when I bought them. Good for a loaf of bread, pint of milk, a few rounds of ammo, stuff that’s not worth a whole ounce of silver let alone gold.
That is why I was thinking of staying away from coins.
Silver’s job as a “store of value” has been pathetic for 35 years.
“I read that the bars are more liquid than coins.”
Here’s an easy test for you:
Take a bar and a coin and ask a kid at the gas station or the guy at the liquor shop which one looks like money to them.
Times change...
The one thing that has been consistent is the falling value of the dollar.
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