I'm about to buy my first 2 oz of silver bars and I am wondering where to store them and if I'm making the right decision. Buying locally from a coin store referred by a family member. I am curious if anyone has documentation or video of why buying silver is worth it. I want to buy 2 oz every 2 weeks while I can afford it. I guess I just want to be reassured that this is a good idea cause it feels right but I'm new to this. If you have any info I would greatly appreciate it. Thanks for reading this. Please speak your truth.
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Like your username.
I think it’s worth it. Precious metals will hold their value because there is only a limited supply on earth, like land. It’s tangible. You can use it during wartime if necessary. It’s an investment that you can see, touch, feel, understand and have control over. Is it easy to steal/lose? Sure. Maybe invest in a safe? Much luck to you fren. Great to be in a position where you have extra money to invest. Consider yourself blessed and smart.
Thank you. Finally a smart one.
Thank you. One of the things I’ve been talking with my friends down here in Florida about also is investing in plants. I know it sounds a little kooky but think about it, if we are keeping it super old school, straight from God, straight from Mother Earth....the original “investment” was planting a seed and watching it grow exponentially....and some plants every provide “dividends” if they provide food. I think your silver idea is cool though. Doesn’t ever hurt to diversify and have a little of everything
speadEAGLE, two ounces of silver are worth less than fifty bucks.
Throw 'em in a drawer. They will never go "up" in value; they will simply retain value relative to an inflating currency. If 1oz were trading a thousand dollars tomorrow, it won't mean that your house is now worth ransacking to get two ounces of silver. It'd just mean that the dollar became worthless. If fifty bucks fills up the tank, then you'd need two thousand bucks in that scenario.
(This is why I tell people that PMs are store of value, but they are not investments per se, as they do not earn.)
My question is if you have silver bars, and if it comes time to use silver as currency, how do you split it up to purchase things & how much would it be worth? I understand the reasoning behind purchasing silver I'm just trying to understand how it will be used compared to the money system we use now.
No clue but I feel like that would only happen in apocalyptic type circumstances and Trump isn’t going to let that happen.
It makes me wonder should we look to purchase silver coins or bars.
the bars weigh as much as silver coins. 1oz is small so i'm assuming a bar would work same as 1oz coin.
Use the bars to pay for the more expensive stuff?
You buy silver in small amounts. No different than going travelling to a third world country with only $100's. You travel with various amounts in different pockets and don't flash your money around because that's a sure fire way to get robbed.
If one is buying precious metals for when SHTF, it should be in small $5-$10 barter amounts. it's easier to travel with, it's less noticeable, if someone steals it you're not out your entire amount. I prefer jewellery (partly because I'm a woman and like shiny things) but you can wear it if it comes to a point on this Earth that the economy has crumbled we're bartering for rice with bracelets.
The only reason to buy bars is if you're investing in it like you would long term stocks.
@ u/spreadEAGLE
um i guess but i just bought 2 oz. whatev just respond with your bs.
thanks I'll consider. coins sell in 1oz too so ill guess ill diversify my collection.
Investing in physical silver is fun. There are so many cool coins, rounds and bars. I've been buying for the past few years and don't regret any of my purchases. You have a good strategy of buying a set amount on a regular schedule taking advantage of dollar cost averaging. I learned a lot about buying silver from the r/silverbugs on Reddit. There are tons of silver stackers on Youtube that provide good information. Here's one guy I follow, Silver Dragons. https://youtu.be/BtKJABSPExo
Thanks i will
When I bought a large purchase of silver the man who helped me suggested I buy in coins for a smaller amount. Because if the economy crashes it will be easier To pay in coins rather than showing up with bars.
I have a large bag of old American Silver coins. They are a lot better to use for barter if need be in a catastrophic event than a sliver bar. I also have a number of gold coins, too.
Never sell those bags. Unlike bars, coins, even really beat-up ones, eventually become numismatic (attractive to collectors).
I don't intend to ever sell these unless it is absolutely necessary to sustain us in a time of desperate need... such as SHTF type of event. They will be passed down to our only child instead.
Bruh i had to duckduckgo everything you said. But i trust you for sum reason
stonks like stocks?
what do you mean? im confused but I like your terminology
Yep my 2 oz from local gold exchange last wknd. going buy 2 more this wknd. Heard they are finding tons of gold and other metals buried in the vatican tunnels so hope i'm doing the right thing and not wasting my money.
That's where my extra money is going.
It's cheaper in Mexico. You buy it here, you're wasting your money. Take a vacation south of the border, however? ¿Compras mucha plata? Puedes comprar un arma con lo que guardas.
I don't waste my money on precious metals in America. I spend it on bullets, brass, and powder. If you have a shred of sense, you'll go outside the country for your precious metals, bring it into the US in your truck, and sell it here for a severely marked up price - to people like the moron who downvoted me. LmFao.
That's good if you live close to the border, but for many it's not an option. And it could cost a lot just to travel there just to buy it.
Their silver is 97.5
There’s lots of fake silver in Mexico. Be careful.
There is a simple remedy for this predicament.
Buy with a group of people. This eases the costs of acquiring it. Larger quantities, lower price and you can split the cost per participant, and you obtain higher quality PM, with less risk of unfortunate accidents, and you evade the costs of having to travel across the border.
And it serves to tighten the bonds among you. Win win.
Hell yea. Keep your powder dry, fren. No passport so I guess I'm fooked. Oh, well. Stocking up on other things!