I haven’t seen anyone on this board talking about gold or silver. We are interested in buying SILVER, but have no clue which company to deal with, since there are so many.
For hard metals you may want to check out a local brick & mortar outlet. Many have been around a while and have a reputational record you can check out.
I have been a precious metals investor for seven years, and frankly, the entire experience has been tough. I am holding, not selling, but also not buying. I still believe in “the dollar must depreciate because the US Treasury must default on the massive Federal debt in real terms” story but I don’t know when it will happen. The dollar is soaring, it’s the cleanest dirty shirt in the laundry. The payoff is somewhere in the future, if at all.
The strength of the dollar and rising real interest rates are headwinds for gold.
My advice is not to buy silver, it’s too volatile and the premium is too large. Don’t buy gold or silver mining shares. Also very volatile.
I think it’s fine to buy gold ETF in a brokerage account or IRA. Symbols are GLD, GLDM, IAU, SGOL. But if you must own metal, look at Kitco.com, sdbullion.com, texmetals.com, Amex.com. Don’t transact with a local coin store unless they have a regional or national reputation as a bullion dealer. Buy 1 ounce coins or bars, fractionals I think are a waste of money.
I don’t regret buying gold, I do regret buying miners.
As Clark says, no more than 10% of the portfolio to gold. It’s probably a good time to buy it.
Gold has performed better than the stock market in 2022!
Which company? There are many. I have used ColoradoGold.com for decades. Good solid people. Good prices. Easy to work with. Others I have used that have been very reputable in a sketchy business are SDBullion.com (probably the cheapest) and APMEX.com the biggest with the largest variety. You can’t go wrong with any of these three.
Stay with silver bullion, and stay away from numismatics.
Agreed, the valuation is subjective and never in your favor.
So you want to invest in something that is the same price as it was 100 years ago?
I cannot image any reason to do that…
Then again, there is nothing like knowing how to find your own gold. Besides the recreation involved. I’m not talking about going to Alaska like the TV show, rather 49 of the U.S. states have gold waiting to be found. I used to pan and search for nuggets in northern Georgia. Know which state definitely does not have gold? Hawaii.
Thank you! Appreciate the historical silver data info.
Thank you! I really appreciate all of the good information.
Thank you! I really appreciate the company recommendations.
Thanks! We could use some recreational activity. Could be a fun. No gold in Hawaii??!!
I’m fully in favor of owning gold and silver if you like it from a scientific / geological / aesthetic / artistic / historical point of view. I think my coins are great, I think I’ll always keep one copy of each of the different types I own - Canadian Maple Leaf, Krugerrand, Australian Kangaroo, USA Buffalo.
The Georgia gold rush began in 1829 and pretty much ended when most folks headed for Sutter’s Mill. But gold is still being mined there. We visited the gold museum in Dahlonega a couple of months ago.
There is a former gold mine you can tour that’s basically under the WalMart parking lot.
Newmont Mining still runs a mine in Victor, Colorado. Kind of an interesting little Colorado Mountain town. You might tour there someday.
I thinking mining geology and mine engineering are terribly important, this whole energy revolution we are trying to create depends on cobalt, lithium, copper, silver, other metals. And uranium. If you have a young person in your family, inspiring them to pursue a STEM career focused on energy metals could be the best outcome of being a metals investor.
I second the recommendation for APMEX as a dealer. Nail down an order, then I send them a money order, so there won’t be any record of checks or credit card payments for the FEDs to see if government tries to re-regulate precious metals ownership…
I have read that the Amish save in precious metals, and will sell at spot price when needed, but haven’t had time to investigate this.