I know very little about stacking or investing in precious metals. But once in a while I will see someone recommend stocking up on gold or silver. Lin Wood also recommended this so it piqued my interest.
Since I know very little about this stuff, I'm going to do my research before doing anything reckless. But every time I see a question like "should I buy gold or silver?" being asked on reddit or quora or whatever. They always get flooded with the generic "don't buy gold/silver, it's a bad investment blah blah blah".
I always see people telling others to not buy gold or silver but their actions suggest the opposite. If it's so bad, why are there still tons of people out there trading like no problem?
Context is everything, some folks were discussing not trying to 'short' silver because it is not the same sort of animal as is Gamestonk. Silver is, however, undervalued presently, buying some as an investment is not a terrible idea. Don't buy fancy coins unless you are collecting or just have the money and want to, buy bars or rounds, pure silver just not worked and so usually a better price per ounce.
Gold is not undervalued as is silver but is still a limited quantity, sort of, and rare so will be a decent investment too, from the perspective of preserving your equity.
Some folks who worry about money say buy gold/silver so when the dollar is worthless you'll still have riches. ..
Others don't want speculators playing, like trying to short silver or running up gold prices, because they do invest and wanna keep the prices low maybe.
The thing is to research it yourself, yeah, and know what it is 'you' want from gold or silver or platinum or coins or whatever. Don't impulse buy, usually it's not a good idea to buy from the ads on TV, check the prices on the exchange, watch the markets, look for bargains as you research what you need to know.
And whatever you do buy be sure you take possession of the actual metals, do not accept just certificates. https://files.catbox.moe/yj0kqe.jpg
Thanks. This is great info for someone like me who basically know almost nothing. All I've been told is that I should aim buy as close to the spot price as possible.
So I should just avoid coins in general when it comes to stacking? Not even the the standard eagle or maple leaf? I am not interesting in collecting. But I figured the standard eagle coin or maple leaf is easier to sell if I ever need to get rid of them since they're recognized by everyone.
Coins are more liquid if a scenario arises where you need to trade them (doomsday crash of dollar). Easier to move than bars that can be worth thousands. Bars are more certifiable and can put more pressure on the market since only so much silver is in high enough quality to be in the physical bullion market.
Do what's affordable to you. And do your due diligence research from multiple sources.
FD: I've bought some silver and will probably buy more.
Depends on a lot of factors only you can really decide. If you're looking then you already know coins can be a lot over the price... and sometimes you can find them cheaper in little coin shops and even flea markets, antique shops and such places.
Coins will always be worth at least spot price and hopefully above but folks might try to lowball that if you're looking to sell at the wrong time.
You decide, take enough time and decide, maybe mix your style up and see what suits you. Look at how rare or limited a coin might be, try not to go beyond a limited range unless it looks to be a true collector's thing later. A lot of coins are gimmicks I think, don't seem to accrue any value beyond the price of silver.
But it's your choice, coins worry me but if you want them try them. Don't do anything looking to get rich quick, it is an investment. Silver has to go up, there are real reasons why it is considered to be undervalued right now.
Remember to take physical possession.
https://files.catbox.moe/su3df0.png
Definitely not. I'm going into this with zero intentions of making gains. This way I don't get greedy and overextend myself. I want to stack as an extra option to protect some of my savings.
I live in Canada and I'm seriously concerned with our current government's reckless behavior of endlessly printing out cash. I thinking of starting small and just buying either a roll of standard maple leafs or some bars in case shit goes crazy with our CAD. Of course I will still have cash sitting in the bank. I'm not treating it as an investment, just as a way to protect some of the cash that I already saved up. I'm seriously worried about the future of Canada's currency lol. But I've been on the fence about it for a while. There's so much misinformation out there I'm getting analysis paralysis.
I have the same questions you have, but it is hard to get a straight answer. Everyone keeps telling me "gold does this, gold does that, not a great investment, blah blah".
I just want a vehicle that I can put my savings into that will hold its value. Simple as that. If the $ goes to zero, I want something that will have value.
I understand that if there is a total destruction of civilization, having trading supplies are a strong position.
It is my opinion, that physical gold and silver have been valued by mankind since the dawn of time and if all goes to hell, they will continue to hold value. I am not offering advice, but I think I am going to use that reasoning to determine what metals I buy.