When should we buy metals? Silver, Platinum, Gold, etc?

Camelfilter

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If you were going to buy silver it should have been in Dec. Before they broke the Virus story! DR
Actually PM’s dropped a goodly bit along with the other markets. Unusual.

PM’s are coming back up round now tho.

A local large dealer was completely out of non-numismatic silver today. All types out. Markedly unusual, however expected due to the pricing as I mentioned above.
 

Camelfilter

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Local dealer had all in stock yesterday (American, Canadian, Chinese etc).

Rogue Valley Coin and Jewelry Medford.

Good folks, highly recommend for Southern Oregon/N Cali folks. They just re-opened this week (I believe).

Shut down just shortly after my post above due to the Covid.

Converted some collectible coins to silver Maple leafs rounds. Will likely be doing some more.
 
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I have a friend/coworker that has $200k in cash just sitting there. The bank he was with irritated him so he cashed out.

As a friend, I couldn't let him just hold on to funny money. I shared what I know with him and he decided to diversify his portfolio.

His first purchase was $11,199 in gold coins and I walked him through his purchase. Shortly after his first purchase, he ordered another $7k.

He is going to purchase more in the near future. I should also mention he owns property and he is renting the house.

$11,199 worth of coins :D
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I've been watching gold go up last few weeks/months. I have a feeling it will continue to climb now with the whole Covid thing. As we draw nearer the election expect prices to climb, but depending on how the election turns prices could go dramatic in either direction.
 
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Well, I spoke with my buddy tonight, he ended up getting 30 ounces of silver bullion (coins). :s0133:

I know the day will come when he will hug me and probably kiss me on the cheeks (he is an Arab lol) and thank me for exposing him to the idea of owning real money.

Let us not forget, JP Morgan said, gold is money, everything else is credit.

Folks, if you are on the fence, do not wait! buy what you can afford and feel comfortable with. I am keeping a close eye on the market, and yes the stock market will probably go back up and look very attractive. But if you study history and do your research, we have some bad times a head of us, and you should do your best to protect yourselves and your family and friends. In my opinion, you are buying insurance that will come to your aid in the near future.

I will continue to buy gold, silver, ammo, and keep a small chunk of cash on hand. Hopefully when the time is right, I'll go after buying my first house. I am a bit over a year away from turning 40 and I take this stuff very seriously.
 
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I’ve been buying precious metals for a really long time , at the time silver was really cheap . Then the Hunts tried to corner the market and drove it up high the price collapsed then it went crazy again in 2008. Both times I HODL’d for dear life the next time it decides to go into outer space I’ll sell and hopefully realize a small profit .. here is the truth for those who want to buy precious metals and become silver or
Gold bugs.

buying Gold and Silver are poor investments and if you have aspirations akin to Peter Schiff you will surely lose money, commodities trading is very dangerous and can help make you poor really fast if you do not know what is going on . If you are buying precious metals as an inflationary hedge then yes they can help protect your wealth. Please just do not become ignorant or caught up in the hype designed by salesmen to sell you gold and silver .
 

gmerkt

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For common people, owning PM should be like an insurance policy. You buy it just in case, then leave it alone. Let traders worry about changing numbers. Yes, it doesn't pay interest. Neither do insurance premiums. It's just there in case you need it. Hopefully, you never will. But if you do, regardless of its perceived value of the moment, it's there for you. A silver bar or gold coin will never be worth zero. If it turns out you never need it, maybe your children can benefit.

My opinion, which is worth what I'm charging for it: Gold is holding at a kind of floor around $1,700, and is a bit pricey for me. I want to wait a while and see where it goes from here. Could be in future, $1,700 will seem like a bargain. Silver, I think at $17 is still underpriced, particularly with its historically wide ratio to gold. Silver might burble along in the teens for some time, or it may pop if gold goes nuts. I don't think we'll ever see $3 silver again in our lifetimes. Especially considering the expansion of paper assets. Platinum, still in a range where it's been for a while, low $800 you probably won't get hurt buying more but of the three, it's most sensitive to changes in industrial use.

I listened to a presentation the other day where the guy said, "This is better than gold bullion, mines or ETF's." He was referring to gold royalty companies. These are outfits that essentially give cash to miners for development in return for a stake in future output. Eh, hard metal above ground in my hand is less risky. True, less potential for the Big Strike. But how many go bust compared to those who hit the Big One. Hard pass for me on royalties.

Predicting the future for PM's is fraught with much uncertainty. One guy I've read who has a fairly long timeline like myself has made some observations. There are secular moments when precious metals go crazy, the result of mania. Like 1980, 2011, maybe entering one now. If you have magical timing and can recognize these at their peak, and you want to cash in, these are the moments. Otherwise, just stay the course in the "insurance" mode. Those who bought on the dips will be okay in any event. It's less comfortable to be the guy who buys at the peak.

Always remember that the value of paper money changes. That's why you shouldn't get too wrapped up in what you pay for PM. Because as time passes, paper money loses value. Since paper (fiat) money became the accepted medium of exchange, there has rarely been a government that couldn't resist monetizing debt and debasing the value of their currency.

If you're gonna be a long term buyer of PM, make yourself a kind of value index. Just some columns on a piece of paper, maklng a note of what you paid for a given amount of PM. Then for the same date, record the cost of a week's groceries, a gallon of gasoline, your property taxes, your wages, or whatever cost of the moment you might think is relevant. This might be useful in future so you can gauge the value of your metal in a situation where paper currency has gone very far south. The government Bureau of Labor Statistics already does this but I don't trust it.
 

dplev4

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A very very small percentage of precious metals makes some sense, to the extent you are saving it for an emergency. I don’t consider it in my investment portfolio.

if you bought gold shares some time ago and held them wonderful. You should make money when you sell. For myself, selling coin through a broker is too uncertain.
 
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dplev4

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Here is an article from today's MarketWatch that sums up my feelings. Yes its a bit wishy washy, as are all investment recommendations, but I think it is reasonable and fair. I would still keep a small amount of actual gold on hand, but I emphasize small, because its value is for an emergency and not as an investment.

 

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