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

[wired]

$2500+ for gold in the next few months seems a lot more possible now, doesn't it? lol
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Depends. It could spike and then drop . Russia is rolling out their Corona vaccine next week and if we get through testing of ours and the world economies starts to stabilize a bit you could see it potentially hit $2500 short term in the next 3-4 months or less then drop like a stone afterwards.

 

[GWS]

I think I'll sell off some silver if it hits 35/oz

 

[Angie]

Sad I didn't buy more in March.

 

[TTSX]

I would but an ounce or two once in a while from my local pawn shop when I could get them for a Jackson, premiums included. Just fun to have a small pirate's treasure but nothing serious. Serious investments, imho for a SHTF (I hate that phrase so much) scenario are cigarettes and liquor. An addict would give his left nut for a smoke if there weren't any at any stores anywhere. Just my opinion.

 

[Camelfilter]

.... Serious investments, imho for a SHTF (I hate that phrase so much) scenario are cigarettes and liquor. An addict would give his left nut for a smoke if there weren't any at any stores anywhere. Just my opinion.

Useful for "minor" disruptions/local/regional type stuff. Getting thru checkpoints/roadblocks "easier" once you know folks a bit better/schedules & such. That kind of stuff.

As to using such as trade/barter in a true/full on SHTF/WROL type situation? That's a big nope.

Anyone looking for such wouldn't have anything worthwhile, vs the generalized risk of attempting to trade in such.

IMO.

That's not to say don't have any of such available. Would be useful as "gifts", or to sweeten a deal if such is near struck, or if in NEED of particulars (medical comes to mind, thru an intermediary).

 

[Old Noob]

I would but an ounce or two once in a while from my local pawn shop when I could get them for a Jackson, premiums included. Just fun to have a small pirate's treasure but nothing serious. Serious investments, imho for a SHTF (I hate that phrase so much) scenario are cigarettes and liquor. An addict would give his left nut for a smoke if there weren't any at any stores anywhere. Just my opinion.

You forgot AMMO!

 

[XoXSciFiGuy]

I think silver coin (US quarters, pre-64?) are the best overall. Or maybe even better, genuine silver dollars. This is if you plan to use them for actual spending in a survival situation. Like someone else said back there, it could be hard on you paying for a can of beans with even the smallest gold coin. A few of them might be okay, for the bigger purchases.

As far as gold goes, it often follows either the rate of inflation, or how much demand there is for it. But another reason it goes up is because the cost of digging it out of the ground goes up, too. It is also heavily used in computers, etc.

Remember the Old Man on Pawn Stars? He was a heavy buyer of silver. Maybe he knows something.

If you're going to invest in alcohol or tobacco, maybe Everclear is your best bet (190 proof) and buy the tobacco in sealed cans (Bugler, Top Tobacco), not in cigarette package form. They will dry out quickly and become Toasty Crap. The cans will last much longer, especially kept in a cool, dry place with few temperature fluctuations.

 

[Cavedweller]

I think I'll sell off some silver if it hits 35/oz

That might be a little to soon. I haven't tried to buy any so I don't know, but one of those metal market analysts was saying last night that the real price of silver right now (the amount you'd have to pay for a silver eagle at a dealer, if you could find one) is 33/oz. Said the comex market price only represents paper contracts, and expects a price melt-up as more and more people demand actual physical delivery. Another was saying it was impossible to find wholesale silver bars right now. Anybody bought any recently?

 

[EHJ]

That might be a little to soon. I haven't tried to buy any so I don't know, but one of those metal market analysts was saying last night that the real price of silver right now (the amount you'd have to pay for a silver eagle at a dealer, if you could find one) is 33/oz. Said the comex market price only represents paper contracts, and expects a price melt-up as more and more people demand actual physical delivery. Another was saying it was impossible to find wholesale silver bars right now. Anybody bought any recently?

You can buy it - and lock today's price - but all the folks I know say they are 2 - 3 months on delivery.

Everyone I deal with all think 100 silver is not that far off.

 

[wired]

You can buy it - and lock today's price - but all the folks I know say they are 2 - 3 months on delivery.

Everyone I deal with all think 100 silver is not that far off.

$100 silver? My eye. 6 months from now the whole hedge market will collapse as the stock market is flooded with money.

 

[citizen a]

I like gold as a small hedge in a portfolio, my physical supply I fully expect it to be part of my estate as a wealth transfer between generations, so the short term price changes don't mean much to me. Still, it pays no interest, dividends, or rents and it really is the ultimate 'greater fool theory' asset.

 

[Camelfilter]

That might be a little to soon. I haven't tried to buy any so I don't know, but one of those metal market analysts was saying last night that the real price of silver right now (the amount you'd have to pay for a silver eagle at a dealer, if you could find one) is 33/oz. Said the comex market price only represents paper contracts, and expects a price melt-up as more and more people demand actual physical delivery. Another was saying it was impossible to find wholesale silver bars right now. Anybody bought any recently?

Traded for rounds a few weeks back, no problem.

Given today's run up, no idea.

 

[kbf64]

 

[EHJ]

In 2008 I got thrashed.
Liquidated all I could as fast as I could.
Was already holding metal - but I locked up everything to hold in physical silver. At 10 bucks I knew it was safer there than anywhere else.
3 years later - I jumped out at 5 for 1.
In the following year I started buying when it dropped to 25... all the way down to 17.

I like gold as a small hedge in a portfolio, my physical supply I fully expect it to be part of my estate as a wealth transfer between generations, so the short term price changes don't mean much to me. Still, it pays no interest, dividends, or rents and it really is the ultimate 'greater fool theory' asset.

Actually - physically holding intrinsically valued metal is the very antithesis of the 'greater fool theory' asset. IMO.

Greater Fool Theory: What It Means in Investing, With Examples

The greater fool theory argues that prices go up because people can sell overpriced securities to a "greater fool."

www.investopedia.com

Greater fool theory - Wikipedia

en.wikipedia.org

 

[kbf64]

Gold Price - gold up another $60 and ounce!

 

[Stomper]

Buying PM's.... do you own it on "paper", or do you have the ACTUAL PHYSICAL specimen.... if you own it "on paper", then you may as well just have greenbacks.

 

[biggie24420]

If you asked for my opinion, I would not sell anything anytime soon, I would acquire as much as possible (do what you feel comfortable with).

Some of you think the prices will tank. Sure, it's all about cycles. But for now, I think the PM prices are going to the moon. I mean we have unlimited QE! printing those dollars out of thin air will have consequences.

When the time is right (studying the cup formation) I plan on converting a lot of my PMs into something else, land/property/housing etc.

I am more focused on silver these days. Back in 2011 when gold was $1900+, silver was $50 or so. Right now, gold is one $2050 and silver is over $27. Silver is more volatile and I wouldn't be surprised if it hits or goes over $100/oz in the near future.

 

[Medic!]

So if silver is a good idea?
How much should a person have?

 

[biggie24420]

Buying PM's.... do you own it on "paper", or do you have the ACTUAL PHYSICAL specimen.... if you own it "on paper", then you may as well just have greenbacks.

Agreed 110%!
If you don't hold it, you don't own it. If I was buying and selling in the market, maybe SLV and GLD is the way to go. For personal protection, I would never mess with paper anything. Physical metals is how you do it correctly in my opinion.

 

[biggie24420]

So if silver is a good idea?
How much should a person have?

As much as you feel comfortable with. Personally I am 75% in gold and 25% in silver. I am starting to focus more on silver now days.

I don't know what your obligations are with regards to family (kids), how much you take home, how much debt you have etc.

For me, I have no kids, single, I claim 0 when it comes to my taxes, so I get taxed the most. I have a car payment, and basic credit card debt (I use plastic over cash 90% of the time) I have money aside to pay my cards right away. I don't spend if I don't have the money to pay for it right away, I am not paying 14%+ in credit card interest, F them lol and I gain points with my cards but I digress.

I have about $5k left on my car at 2.89% interest. I pay rent (hope to buy a house in the near future), and no student debt loans.

June and July of this year, I personally have spend close to $1k on silver. I have bought probably 20 or so ounces of silver (1 oz. silver coins).

I am not licensed to give you investment advice, but if you wanna send me a personal message on here and give me an idea of how much you have to play with, I will be more than happy to give you my personal opinion. I have nothing to gain, I do not have any connections with any businesses..... not trying to sell anything and gain anything from anyone. simply an opinion and advice.