Hey I’m a 19 year old that’s just getting started in life. I’d like to get advice from you guys on gold and silver. I have no idea what I’m doing :/
I’d really like to know which one I should buy and why. I’d also like to know any other advice.
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Buy one (or two) silver eagles every pay day. $25-30. Take another $25-30 and buy ammo... gold is sexy but silver and lead have more upside when shtf...
Silver eagles are like 38.00 right now.waaaay to high premiums. You can get maples for 28ish.
If I can't get culled eagle for less than 28, i go maples. I like the coin more honestly.
I like the maples better as well. Beautiful coin.
Blue collar... I am 73 years old. A Grandpa. So I will tell you my story about gold and silver as I would tell my grandson today. Remember, advice is worth every penny you pay for it. I grew up in the 70's when gold and silver went CRAZY. There was inflation at the time. Raises I was getting were on the order of 15% a year for several years. Gas shortages and lines to fill up your vehicle. I remember talking to my peers at the time who had mining shares. They were selling shares at 300% profit or more and buying boats and cars and such. It was quite and education at the time. It has never, ever, repeated that performance in my life. I lost a lot of money in mining shares. But!! I started buying gold coins whenever I could afford it. One here, one there. Always when prices were up!! I got gold fever and bought high. Don't do that. If you want to invest in gold, buy a gold coin from a reputable dealer when you have extra money to spend and gold takes a shit. It is not an investment. It is insurance to be put away and never sold unless you really really need the money. That said, I was buying gold at 500 dollars and ounce. (could have been 300 if I wasn't dumb) But over time I amassed a considerable amount of coins which I have in a safe deposit box. Also, I started saving silver coins which were in circulation at the time. Again, putting them away for later. They are called Junk Silver for some reason. Again, you can buy any amount you want from a coin dealer and put them away. If Biden and the communists destroy the currency it may happen again but don't get carried away. Stack coins when you have extra money or can sacrifice a little for your future. You are not going to get rich quick on precious metals but they might some day save your ass.
Junk silver because they are only 90% silver.
Money for when money is not money.
Google search local coin shops in your area. Go there and tell them you want to buy gold/silver bullion coins like American Silver Eagle or American Gold Eagle. Silver Eagles are running about $25 bucks right now. Gold's are about 1800-ish. These coins are priced based on the Bullion price which fluctuates daily. That's the safest way to invest in gold/silver. You can also ask for "junk silver" which are older silver coins that contain 80% silver. Newer coins contain none.
Thanks man
What do I do with them after that? Like when we go on the bimetallism standard, what do I do?
Idk how this works
Buy silver. Your going to sit on it for at least 40 years. Its insurance against inflation or other calamities. It will at least hold its value not lose value like paper.
You can always take them back to the coin shop you got them from, or any other precious metal dealer and sell them back. Or you can trade for goods based on the current bullion price. It's easy to sell them. Everyone wants to buy them.
Hey man, I started stacking around your age. Without knowing your income, I would suggest starting out with silver coins. I started out with silver rounds and now buy minted silver. I use JM bullion, but mainly because i get a military discount. Use echecking or crypto to get the best deal. Make a goal for this year. 20ozs? 50? 100? Idk you're budget, but set a goal every year. I'm 28 now and had a large amount, until I was in a nasty boating accident and lost it all somewhere in the middle of the Atlantic. Lemme know if you have any question...
Local coin shops are the way to go if you've got one close btw. Also known as lcs.
At least you are trying.
When I got started, I didn't know anything either.
I recommend you check out YT. Check out Silver Dragons, George Gammon, Lynette Zang, ITM Trading, Silver Chartist, and I Love Prosperity for a start.
You should find your way from there.
Good luck.
Check out S D B O U L L I O N . C O M (I don't think that's allowed to link here) then just buy silver and gold whatever you can afford, and just store it away, I've been doing this for years and it's worth tens of thousands of dollars now and I didn't spend that much! I started buying gold at about $1,000/oz and Silver when it was about $15 - they have all sorts of designs. Also, if SHTF for real, you will have a better trading opportunities by buying a bunch of 'junk silver' -- like dimes and quarters that are silver, then you won't have to shave off pieces. But yeah, just think of it as an investment and DO NOT TELL ANYONE YOU HAVE IT OR WHERE YOU KEEP IT OR YOUR STORABLE FOOD EITHER - just don't brag about it - if shit goes down your friends and family will be the first to come take your food and money, and also buy ammo all the time.
Check out these charts, make sure "D" is selected to the right where it says "GOLD" this means each bar is one day the price has fluctuated:
GOLD: https://www.tradingview.com/chart/?symbol=CURRENCYCOM%3AGOLD
SILVER: https://www.tradingview.com/chart/?symbol=CURRENCYCOM%3ASILVER
PALLADIUM: https://www.tradingview.com/chart/?symbol=CURRENCYCOM%3APALLADIUM
Whence cometh the question? I suspect you have some idea.
It would be beneficial to read a book on archive.org: Coin's finance school. Start there.
I see people saying that we should stock up on gold and silver. Idk which one I should get, and why. Also what do I do with it after I buy it?
Silver is a lot more affordable for now (as far as per/ounce)…and seems to be what lots of people think has the most upside. Lock it up in a safe and leave it alone until the day comes that you need to sell it or barter with it. Good luck stacking.
There may come a time when precious metals extend to brass too. It is always prudent to have several options to barter. Each option has it' s own merit. Silver is important because of it's antiseptic properties. Gold is important especially on a monatomic level to sustain human mental development, etc.
But there are times when little flasks with whiskey, vodka, paper towels, napkins, condoms, toothbrushes, etc, may yield much more in terms of value.
Hence diversification.
at 19 best advice is to get licenses to sells stuff. Anything you have an interest on:
https://www.dol.wa.gov/listoflicenses.html#:~:text=List%20of%20Licenses%201%20Accountants%20%28Board%20of%20Accountancy%29,Rehabilitation%20Facilities%20%28Department%20of%20Health%29%20More%20items...%20
things like real estate is big money. THEN, you can buy whatever tf you want.
Got three days? Venezuela was our last socialist experiment turned disastrous. Gold and silver skyrocketed in value. They are a store of value while your paper money erodes. Gold mainly. Governments hold it so should you. 10% of your wealth should always be precious metals per many investment houses. When shtf physical assets, things you can hold, will be barterable and worth something. Not a $40k vapor coin "nothing" like Bitcoin. Diversify, hold real things, good luck. It's coming
When shtf nobodys gonna be wanting gold or silver, they gonna be hungry and that stuff is too hard to chew. Learn how to farm and or forage. Wild medicine will also be necessary.
The bigger the buy, the lower the premium. 1000oz bars (~$25K) are only $1-$2 over spot, compared to 100oz bars that are usually $2.50-$4.00 per oz. over spot. 10oz bars are roughly $3-$5 over spot. 1oz silver rounds (not made by a sovereign national mint) are the cheapest way to buy smaller amounts. They're typically in the $3-$5 over spot range as well. But the more you buy, the lower you pay over spot.
The smaller the denomination, the easier to use/trade/sell later. It's worth being aware of this.
For decades, the best buy was Constitutional "Junk silver", which is pre-1964 US coins - dimes, quarters, half dollars, silver dollars produced by the US Mint that are 90% silver content. Unfortunately, Constitutional silver has become so popular, the premiums on it have soared in the past year. Even still, I always recommend picking up some Roosevelt or Mercury dimes before you get anything else. In a pinch, the dimes, which are 1/14th of an ounce of silver, would be the most liquid, usable form of payment you could use for gas, bread, milk, etc. For instance, say silver goes to $100/oz. It would suck to have to use a 1oz silver round to pay for something that was worth say $10 if the seller couldn't "make change". However, each dime would be worth $7.14 so it would be easier to part with just two of these (1/7th of an ounce).
American Silver Eagles (ASEs) are the "gold standard" (pun intended) around the world. Unfortunately, ASE premiums have been offensive for the better part of two years now, in the neighborhood of +$10 per ounce. So if silver spot price is $23.50 today, the ASEs go for $33.50+ each. Not a great deal....
Other sovereign mint coins (Canadian Maple Leafs, British Brittanias, Australian Kangaroos, Austrian Philharmonics, South African Krugurands, etc.) are also over-priced in comparison to everything else but ASEs. I don't recommend these unless you're really into diversifying. But of course, if you live in the country of their origin, I recommend these over American constitutional silver and ASEs.
In the end, it all comes down to how much you have to spend and what your main goal is. For pure wealth preservation, the big bars are the way to go. For easy liquidity, the Constitutional silver is far and away the best. For the most bang for your buck in smaller dollar amounts, silver rounds are the way to go.
If I were you, assuming you have $5000 or less to invest, I'd get a 45%/45% ratio of Constitutional and rounds and use the remaining 10% on some ASEs. If you've got $5k-$10k, maybe mix in a few 10oz bars or a 100oz bar. If you've got over $10k, replace the silver rounds with 100oz bars as they are basically at or near the same premiums. The problem with silver rounds is that they're easiest to counterfeit and not a lot of people recognize them.
If you've got less than $2,500, I'd recommend a 50/50% mix of rounds and Constitutional.
Good luck and welcome on board the train! Hopefully you've joined reddit.com/wallstreetsilver/ ...if not, stop on by and join up. There are over 180,000 people there who will happily answer all your questions. This is where the party is at, about to get a lot bigger too!
BTW, the best prices out there are typically from SD Bullion. They're amongst the most reputable bullion dealers who typically have the best prices. And they don't short the market to hedge their customer purchases (like APMEX & JM Bullion and all the rest for the most part). I've been buying from them for years and never had a problem.
You are getting sound advice, make sure to get a little bit of everything.
Junk silver, in an economic collapse, may be the only money you will have to buy goods and services. I bought .50 pieces, quarters and dimes. They may be the only thing you have between you and starvation.
Silver bullion is good to but that is more for larger ticket issues.
Gold bullion is for the big stuff, mortgages, asset purchases. There is a risk of gold confiscation, so mix it up with actual gold coins. A St Gaudens $20 coins are a little more than 1 oz bullion but they have consistent resale value (being collector coins). They are nearly 1 oz in gold.
Hide it, store it a vault (not in a bank), don't tell anyone what you have. It will be hard but keep it to yourself.
A valuable lesson I learned, you tell someone in passing that you got it, when shit hits the fan, they will be on your doorstep to take it away. Tell no one.
You're gonna need a serious safe unless you want to pay for a vault service. Safety deposit in a bank is bad news. They may find some reason not to give it to you, or you won't have it when you need it. Check out youtube before you dive in
Wallstreetsilver on reddit or gab. Tons of info. Dont get too caught up with the moon talk,it may happen,it may not.
After you've stocked up on food, tools, etc., then look at storing your extra wealth in gold and silver. The physical metal that you can hold in your hand, not certificates, gold IRAs, or anything else like that.
Sorry, have to come back one more time.
Check out copper. It is priced right, very affordable right now.
Copper is already a hot commodity and will only get better.
It is a PM (precious metal) that you buy cheaply but will end up having a big payoff.
Lead, if you know what I mean, is a sure fire metal that you want to invest in as well.
Whether the dollar crashes and our economy goes to shit or we keep trucking along as debt slaves, PM is your hedge against the worst. Buy when and what you can.
Remember something...dollar bills are paper based on faith and is called Currency. Gold and silver are MONEY. Understand that distinction.
In the end, don't trust banks, don't trust anyone with your stash, it will save you in the end.