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PM's are simply another basket of wealth portability. Same as the example of lead & brass (or perhaps firearms).I call it boomer Bitcoin. They are just shiny rocks. They have no real purpose, no real value. Just a market that is set by the market itself, along with big wig market movers and the idea that it is a "hedge against inflation".
If you want to invest in metals, lead and brass hold their value well.
Diversify if one can & one wishes.
Oversimplified example, in "normalcy", its easy to transport quite a bit of value of PM's. Even by plane (in carry-on) domestically without ANY TSA hassel. Not so much with ammunition &/or firearms. Just keep it under 50(ish) pounds-depending on the airlines weight restrictions.
Another point about PM's, being a "basket" of wealth. They are for after "whatever" economic / social calamity occurs. When some type of "normalcy" returns AND we THEN have a want/need.
Just as in folks mention lead/brass/loaded ammunition as stores of wealth! I won't be selling any of ours amidst some social/economic calamity. Perhaps after, however not during.
In short, PM's are just another basket. Folks should diversify. How they do so, and how much they do so, is pretty individual/family dependant.