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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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.