I'm a stacker. I'm constantly looking at silver and gold prices, the spread, inventories, premiums, derivatives in SLV, etc, etc.
The obvious trend since SVB went down was a move to towards safer assets, let it be a "too big to fail bank (lol)", government securities (lol), and precious metals. Premiums on 1 oz silver rounds (generic) are nearly $5 anywhere you look. My local coin shop (LCS) was charging $4.75 per ounce over spot on generics, which is actually lower than the vast majority on JM bullion and SD bullion.
With silver spot being 24.25 as we speak, a $5+ premium is nearly a 20% premium on the price. Higher premiums almost always mean high demand and low supply. Inventory on the comex is dropping at a pretty staggering rate (277 million oz left) and the entire comex could be drained with a mere $6.6 billion dollars.
My LCS said it's been insane since the banks began to fail. Way more buyers than sellers.
The price of silver specifically has been artificially suppressed by the big banks through derivatives and artificial contracts traded amongst the big banks. As inventory continues to drain, the dollar falls, BRICS grows it's membership, and uncertainty remains, precious metals SHOULD skyrocket.
Ultimately, I don't invest in PMs are a get rich quick scheme, but they really are a great store of value. Not investment advice, but holding silver and gold, while you can still get it, could be an answer to rapidly rising inflation.
I'm with you on that. I NEVER saw my silver as an "investment" in the sense that I would buy low and sell high. If I did that, I would just be exchanging silver for a larger amount of fiat (worthless) currency.
Nope, my silver was put away, safely, and "forgotten about" against a time of financial crisis when the dollar fails and silver (and gold) are the only means to buy needed things like food and gasoline.
It also helps to have sufficient lead to protect said silver and gold. Just sayin'...
I'm doing the same thing. I got a $5,000.00 unexpected bonus from work at the end of the year. I bought $5,000.00 worth of silver coins for my "just in case" stash. Wasn't expecting it so I didn't miss it.
Where do you buy silver coins?
I bought mine at https://www.jmbullion.com/silver/
Depends on where you are, but search your local area for a silver dealer. If you’re in Canada I’d do a search for a Royal Canadian Mint authorized reseller, or you can go to a major bank (and pay a premium). I’m sure most countries have something similar.
silvergoldbull.ca, colonialacres.com, canadianpmx.com, thecoinshoppe.ca
For the leaf stackers
There are pros and cons for where you buy. If you buy online you will have to use a bank account or credit card to make the purchase (with a large fee added to CC purchases), that of course is all traceable, so whatever you purchase will be known. If you buy from a local coin shop (LCS), you can pay with cash and remain anonymous. The problem I have with my LCS is... I only have 1 near me (other than pawn shops, but those are usually ripoffs). He has the best prices but very little selection. He usually never has what I am looking for. I will go in looking for gold and he will only have silver rounds. Sometimes he doesn't even have much of that. But he is typically considerably cheaper than the online guys (and non-traceable!). And you get to leave with your metals. Online stores can take a week or more to ship out your purchase and then you have to be home to sign for it.
The online stores have a huge variety and usually have stuff on sale. I (unfortunately) usually end up going there to make purchases, because I can put in an order 24/7, I can buy as much as I want and almost always exactly what I want.
I put in an order when the bank failures started a couple weeks ago and when I got my order, the package had been opened and silver was missing! I had to make a police report and hope that everything gets resolved :/ This is a major drawback to ordering online, but everything is insured by the seller, so now I am just waiting to see what happens. I have made many orders in the past, and this is my first issue like that. I really hate a thief!
Ya, I don't rly wanna buy online...no trail. So just search for local coin shops near me? Pawn shops last resort?
I get mine at moneymetals.com
I use JM bullion because of the military discount I get. If JM is high, I'll check out SD bullion. I try to use my local coin shop and much as possible and have a good relationship with them.
What about other metals? I bought a little platinum, but also a roll of lead (from home depot) & I'm thinking of maybe getting some tin & copper. Metals we might need if things go down
By "lead" I was referring to ammunition.
Kek
All metals are a good store of value because they are used to actually make things.
For example, copper is great because it is the primary tool for electric power transmission. Or it is the primary metal in bronze, or a thousand other uses. Same for all the other metals, including platinum. Each of these elements have unique properties that people have found use for, some more than others.
Iron is probably the most useful, but also the most plentiful, so its not necessarily the best investment unless you plan to actually use it yourself.
Because we live in an electric world, silver is probably the most useful v. the amount available (not to mention it's "beauty" properties). Copper is up on the list as well, mostly because it has similar (albeit inferior) properties to silver, without being as rare. Tin, nickel, lead, titanium are all very useful. Aluminum as well, but that is the second most plentiful so it falls into the same category as iron.
Basically, imo, you can't go wrong with any metal asset. All are worth far more than the volume it takes to store them. All of their values will go way up if the SHTF.
Agreed. Even nickle can land you a nice plus.
few years ago, saw copper bullion at good price, so spent $50 for 10 x 1lb blocks...NOW that price for same thing is around $250...
I like the full metal jackets to protecting the metals.
Yea you've gotta be able to protect what you've got. I'm far more leveraged in brass than PMs.
👍
Why not just put it in a vault?
Exactly what I've done.