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?
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 a roll of silver coins in case shit goes crazy with our CAD. Of course I will still have emergency 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 picked up my first roll of Canadian coins here about 3 weeks ago. It’s been pretty difficult to buy locally here. Where I live there are three shops within a 20 minute drive and while silver spot is $28ish the oz locally is selling for $32-35. I’ve always felt that something is worth what someone is willing to pay, and this proves that fact. The “price” is being set by demand which I love. You can get minted or generics. The generics are cheaper if you come across some and just want to stack saving you the small premium of a minted item. I have a good reserve and now just put back 10% of my pay a month in to whatever I can get the best deals on.
https://silverprice.org/silver-price-canada.html
Now it's spotting at $34ish and selling at $43ish near where I live.
See I see that as a great sign personally some might not. I picked up a two100oz bars for almost spot last week. Deals can be had you just have to look right now. I’ve bought from the online guys but their ebay stores are generally cheaper so always look there if you don’t buy locally.