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In the event of total market collapse I will just cash everything in - hopefully before the crash and with the hope that eventually the market will recover.
Good luck with that.
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In the event of total market collapse I will just cash everything in - hopefully before the crash and with the hope that eventually the market will recover.
Look, you believe what you believe and I can appreciate that and none of us are here to try an influence anyone otherwise. I happen to think you're logic is a little flawed, but wtf do I know? PM investing is definitely to preserve capital--we agree there 100%. Where I think you're being foolish is completely discounting PM vs the Market and\or mutual funds AND "hoping" (your words not mine) to cash everything in before the crash. You and everyone else are hoping for that and unless you're connected, the chances are so slim...FWIW, I am NOT saying that investing in the Market is fruitless or stupid. I am saying that diversification is the key.
My recommendation for anyone is 15-20% of they INVESTMENTS be in PM as a hedge. I'm not an "all or nothing" kinda guy. I'm rocking the 401k--which still has not recovered from 2008. However my gold purchases in 2008 have far exceeded the paper "assets" in value. A buy in the $930oz neighborhood is looking like pretty good even now @ $1380oz. It was spectacular @ $1900oz. My 401k still hasn't reached it's previous 2008 levels. Again, YMMV.
Gold and silver aren't even really performing "better or worse" like stocks, only thing changing is perception of the dollar in highly manipulated financial markets, which of course always fail. How long rigging can last is anyone's guess.
In the event of total market collapse I will just cash everything in - hopefully before the crash and with the hope that eventually the market will recover.
I had a friend who never wore seat belts because he said "If I get into an accident, I'll just reach over and snap it on."
Every time I hear the hype about PM's I go an check out the performance over time. It seems like people (institutional and professional investors) try to time their buy/sell cycles with stock market performance. They invest in metals when the market is sucking, and dump them when the market is cruising (like now). As far as I can tell, the only reason to buy PM's is to preserve value or capital. You are not going to make money, not a lot anyway but you likely have something that you can sell in the event of a total market collapse.
I had a friend who never wore seat belts because he said "If I get into an accident, I'll just reach over and snap it on."
Professional investors? I would imagine those investors arent doing too well...gold/silver prices seem to fluctuate exactly opposite the stock market. It's almost fail proof that when the market has a really good day, gold/silver trickle down a bit...and vica versa.
If anything, you want to buy gold/silver when the market is UP, then sell when its DOWN...
Just checked APMEX, and silver is at $19.80.
Im overseas and totally out of the loop...but wtf happened yesterday? Silver below $20, gold lost $70+, AND the market was down 350+?
Just checked APMEX, and silver is at $19.80.
I think this is good though, not just for a buying opportunity. It means the sheep are calming down and think things are getting better. They aren't really, but it is a self fulfilling prophecy. Things will be a little better for a while, giving me more time to prepare.
Would someone like to educate me on spot price versus 'out the door' price?
It looks like it costs the dealers the 'spot' price, then they add 18-25% ??
Thanks, Rider.
I have been reading those sites, and wonder at their use of terms like 'small premium'.
Is there a good site or two that are known for the lowest prices? Talking about one ounce bars or coins, not the 10 or 100 ounce ones...
Thanks again, I'll search for those articles now.
Gainseville Coins has a good rep around here?
They have a good rep but aren't known for great pricing.
Is there a good website with a list of places in new england/MA? I'd rather spend $200 at a time locally.
Throwing my 2 cents out here... I'm 31 now but have been buying silver for the past 3 years for novelty reasons, hedge against SHTF scenarios and for long term investing. At no point am I purchasing physical silver for monetary investment to reap at the retirement age. Hopefully when I hit the ripe old age of dead my silver will go to someone in my family and they can do with it what they will. I purchase mostly round bullion in all sizes - 1/10, 1/4, 1/2 and 1 oz. I have a couple stackers but that won't do well when SHTF.
All of my silver has been purchased thru Buy Silver Coins, Silver Bullion and Buy Gold | Gainesville Coins and never had a problem with them. I do hate the idea of paying for shipping but it seems to be the easiest way for now. I'm sure there are good stores/pawn shops etc but I just don't know where they are.
Is there a good website with a list of places in new england/MA? I'd rather spend $200 at a time locally.
THIS.
Plus--I am _not_ a fan of buying metals on plastic for 2 reasons: 1) it costs you interest unless you're paying it off immediately and 2) it COMPLETELY takes out the anonymity out of the equation.
I may be screwed then, because they'll know I have silver and an 'arsenal' waiting for them. I buy ammo online, most of my guns were bought out of state and shipped to a local FFL. Plenty to track me down. Then again, they'll probably ask me to raid my own house considering how bad inter-agency communication is.