Been thinking of dabbing into buying silver, mostly because it’s cheaper for me and easier to begin with. But someone I know who is a big gun buyer told me to, instead of gold and silver, go with finer rifles and pistols. More collectible. Not the $10,000 ones, more more in the 1-2k range pistols and rifles. I’m more familiar with them personally, and I don’t think they ever go down in value, from the ones I’ve had for years now.
Although I’m still very interested in buying silver or maybe one day gold, but what some of you, smarter than me financially, think about this? Do’s and don’t’s? Could guns provide similar financial holdings as silver, if the dollar goes poof? Thoughts?
Guns could be an okay investment, though I would say ammunition has a much higher probability of continuing to hike in value.
Silver on the other hand is guaranteed to be a solid long-term investment, if we can use the last several thousand years of history as any indicator.
During the Roman Empire, a day's wages for a roman soldier was a dime (1/10 ozt silver).
During the American industrial revolution, a day's wages for labor was a dime (1/10 ozt silver).
Consumption rates of silver have also sky-rocketed due to electronics, and historically, appears to be greatly (and artificially) devalued compared to gold, which is generally controlled by the same who run the central banks, and thus subject to nefarious market manipulation. Silver, being less rare, is less controlled and more likely to retain its value (or drastically increase, as the case may be) in the event of a market collapse.
The best advice I can give is to diversify. Buy some guns, buy some silver, buy some land, etc., etc.