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?
Silver is HIGHLY manipulated. People know what it should be valued at based on price of big sister gold and the demand for physical silver. The problem is market manipulators have over sold silver x500 or more and are able to buy and sell "paper" silver as they need to keep the price suppressed. The Fed uses bullion banks as its agents to put on naked silver shorts on Comex to drive down the price. It enables banks to repurchase silver at lower prices.
This isn't the first time investors have attempted to free silver from it's captors. Silver wiped out the billionaire Hunt Brothers back in the 80s. Now silver is back in the news because of Reddit's recent GME's raid. It raised the question, could silver manipulation be broken?!
IF silver unwinds, it will be spectacular. But many investors with deep pockets have tried and failed. Silver seems to be the scam that never ends. lol!
Buy silver if you like silver. :)
Would you advise against buying silver as a way to store some of my savings away from the bank just in case the dollar crashes? I live in Canada. Right now our glorious leader is printing out cash and handing out gibs like a reckless maniac. Now there's talks of feds going after our RRSP to "stimulate" the economy which is the equivalent of 401K for you guys. You are going to see some interesting things happen to the Canadian dollar in the future.
I feel ya! I'm disgusted that Potato Biden is sending billions to Iran and every other country that hates our guts, while Americans are struggling. Hedging against inflation is wise. You already know recognized coins will cost more, but they'll be easier to resale or spend. And you will get a little more for them. Don't buy anything under an ounce. The premiums over spot are too high. (Gold is sold in 1/10 ounce coins, and it's a terrible value to weight ratio!) Don't buy anything colorized, special edition, or first strike. Bars are fine if you don't see yourself needing to use them as money or wanting to sell them quickly. Choose a brand people know, like APMEX.
I've bought and sold coins since I was a kid. If you buy coins you personally like, and you hold them for a couple years you won't lose. Just don't believe anyone who says silver is finally going to unwind and make you a millionaire overnight. The banksters that control the price, have managed to take down anyone who ever tried to corner their market!
Thanks for the heads up. I have zero delusions about making gains with stacking. I I see stacking purely as another option to protect some of my savings. With the way things are going. I just don't trust my government to keep too much money in the bank.