- Joined
- Sep 4, 2020
- Messages
- 9,361
Going to sell half and take profits.
The other half is insurance against madness.
Ben
The other half is insurance against madness.
Ben
Today, Saturday I just bought a couple grand worth of Silver
- Thread starter Rick
- Start date
Help Support Homesteading & Country Living Forum:
Too bad you aren't near me...at least I don't think you are. I might consider buying some of it from you, even at today's prices. I would feel better with the money going to someone here on the board, so I might be willing to buy, even though spot prices are high now. Although...I suspect I couldn't buy enough from you. Sounds like you are going to dump a fairly good sized chunk of metal!
I think things are still too iffy, corrections have already started, heard some rumblings of $3,000 and up that is coming.
It is an interesting thing, the value of gold.
I've bought gold, so you would think I want it to go up.
But, I didn't buy it as an investment. I bought it has a hedge.
So, if gold goes down, one of two things is happening:
I've bought gold, so you would think I want it to go up.
But, I didn't buy it as an investment. I bought it has a hedge.
So, if gold goes down, one of two things is happening:
- Everything is going well, and my hedge is unneeded. That is good news!
- Everything is going down or sideways in a way that none of us could have predicted...that is bad news.
It's always a good day to trade Federal Reserve Notes for money.
I picked up a new 2022 British Sovereign a few weeks ago. (Don't remember if I posted this; I don't think I did.)
Usually Sovereigns (just short of a quarter ounce coin) look like the one on the left, with St. George killing the dragon (since 1817).
But they have a special one year issue coin for the Queen's Platinum Jubilee (70 years), which you can see on the right.
I usually buy older coins (100 year old coins that still trade at around spot+4%), but I figured I'd convert some savings into one of these limited run jubilee coins. Besides, the local coin shop isn't getting the older coins in any more.
Usually Sovereigns (just short of a quarter ounce coin) look like the one on the left, with St. George killing the dragon (since 1817).
But they have a special one year issue coin for the Queen's Platinum Jubilee (70 years), which you can see on the right.
I usually buy older coins (100 year old coins that still trade at around spot+4%), but I figured I'd convert some savings into one of these limited run jubilee coins. Besides, the local coin shop isn't getting the older coins in any more.
- Joined
- Dec 8, 2017
- Messages
- 8,017
I glanced at the PM market this morning and when I looked, gold was just barely above $1900. I told hubs if it fell below that $1900 mark, I may have to get some more. It looks like it's bounced up slightly, but worth keeping an eye on.
Wow. Didn't think I'd see $18xx for a while. Interesting.
PM sale today ! 
Though premiums are High.
Though premiums are High.
Yep, gold in the upper $1800's, oil at $97.~, and my Exxon stock at $80.~ (was $88 a while ago), what's the world coming to?
Welcome to the show folks, keep your seatbelt securely fastened at all times, things can go up and down a bunch.
Enjoy the ride!
Last edited:
I just popped in here to see what others were saying - It dropped pretty sharply.
Also - not specific to PM (maybe) but Wells Fargo fired 550 mortgage processors Fri. the 22nd - it's getting rocky. Something's getting creepy.
Also - not specific to PM (maybe) but Wells Fargo fired 550 mortgage processors Fri. the 22nd - it's getting rocky. Something's getting creepy.
Short lived 1800s...fastening your seatbelt is probably the best advice.
In my experience (amateur observation over the past 5 or so years), premiums always lag on the drop (which makes some sense).PM sale today !
Though premiums are High.
A quick drop and a quick rise rarely lets you take much advantage.
But, a drop that stays low for a few days allows the premiums to come down.
WF has been in hot water many times before because it is crooked.
Like busted for creating fake accounts that their customers never knew about to boost their numbers:
It's like scooping out the cat litter-box...
Just when you think it is cleaned out, you come back in a few days and it still has turds in it
.On topic: Silver is always a good buy, WFC stock, not so much
:
Last edited:
Little bit of a wild ride today!Welcome to the show folks, keep your seatbelt securely fastened at all times, things can go up and down a bunch.
Enjoy the ride!
DOW down 809, tech-heavy Nasdaq loses 3.95% (many yuppies pee'd their pants)
For the rest of us 'non-elite' people, gold and silver are doing just fine.
This is us holding our arms in the air and going "Wheeee!!!":
Last edited:
- Joined
- Jan 31, 2022
- Messages
- 424
I just learned that my husband had some life insurance. I'm considering investing it in silver. Is there a good place to go to watch silver prices that doesn't require a subscription? And do most of y'all do the purchasing and such on your own, or do you use a financial advisor? I just made an appointment to see one next week to discuss my 401K and options of what to do with it. My husband was the brains of the outfit, so I'm really at a loss trying to figure out what would be a wise course of action. I'd like to retire before I'm too old to enjoy it.
I have two ways to buy silver.
I buy actual, physical silver, the real deal, from a local coin store ("LCS") and take possession of the silver immediately. This is the most secure way to do it. For example, I might buy one or more (or a tube) of these...
Another way is to buy "paper silver" or "digital silver." For example, in my IRA, I buy silver exchange traded funds ("ETFs") or other securities which trade on the basis of silver. SPROTT PHYSICAL SILVER TRUST is one example.
Of course, lately, I buy gold rather than silver...which is to say, physical gold, or even paper or digital gold. I definitely prefer gold over silver. Your LCS will have physical gold for you, or you can buy gold ETFs. I prefer physical gold (shown below), but I also buy paper gold funds such as SPROTT PHYSICAL GOLD TRUST.
I buy actual, physical silver, the real deal, from a local coin store ("LCS") and take possession of the silver immediately. This is the most secure way to do it. For example, I might buy one or more (or a tube) of these...
Another way is to buy "paper silver" or "digital silver." For example, in my IRA, I buy silver exchange traded funds ("ETFs") or other securities which trade on the basis of silver. SPROTT PHYSICAL SILVER TRUST is one example.
Of course, lately, I buy gold rather than silver...which is to say, physical gold, or even paper or digital gold. I definitely prefer gold over silver. Your LCS will have physical gold for you, or you can buy gold ETFs. I prefer physical gold (shown below), but I also buy paper gold funds such as SPROTT PHYSICAL GOLD TRUST.
Last edited:
My heart goes out to you. Those two decisions will be the most important decisions you will ever make and will affect the rest of your life.
I can't recommend a financial advisor (yes, they are all required by law to be a 'fiduciary'
)All of them end up saying the same thing: "give me all of your money, and I'll take really good care if it
".The only
The other suggestion I can make is, if you don't have time to learn the ropes, don't try to do it yourself.
Some mistakes are impossible to correct later.
I don't want to be a negative-nanny, what you need to do, can be done well.
Last edited:
- Joined
- Dec 8, 2017
- Messages
- 8,017
You can look at market prices here:
Silver PRICE Today | Silver Spot Price Chart | Live Price of Silver per Ounce | Markets Insider
There's lots more out there too, even on sites that sell PM's like APMEX.com
I'd suggest looking through this entire thread for some good information. Like Tacitus, I like physical PM's. I have some in my IRA, but not much. I have bought from APMEX and a couple of others, but spot prices are fairly high right now. Still, if the price is low enough, spot prices won't hurt as much. I keep PM's in my cart so I can keep an eye on what the final price of the PM delivered to my home is. When that price hits my price range, then I buy.
Physical PM's probably won't help you retire. They are just a hedge for your wealth. It helps to diversify your assets. Hopefully my PM's will go to the next generation. But if things go south, I'll be glad to have them in my possession.
My financial advisor has no idea I have any PM's. It's none of his business. He can help me with tax planning, estate planning, and retirement portfolio planning, but I'll manage my own physical assets by myself.
Excellent words (I can't use the word 'advice').
I am far more concerned about her 401K.
Far more important are the dollars he will drain out of it every year, and if he cons her into annuities (which pays a really big 'front load' to him), she will be locked in to them for years.
I can't offer any
". Not fun.
Last edited:
- Joined
- Dec 8, 2017
- Messages
- 8,017
Well, we're under $1900 folks. I just wish spot wasn't so darn high.
Closed at $1,886.
Most puzzling.
It seems to have absolutely nothing to do with the rest of the market/economy.
I think it has more to do with a big change in supply/demand somewhere.
My best guesses would be:
A. Some mine somewhere has hit a really fat vein and has taken a big dump on the market...
B. Shanghai's high-tech factories being in covid-hibernation for months has led to a market surplus due to them not buying tons of it.
(You do know every electrical connector terminal is gold-plated, right?)
Last edited:
- Joined
- Sep 4, 2020
- Messages
- 9,361
Ditto what others said.
Get a fiduciary
Annuities are just insurance policy that are good for the insurance company and the person selling them.
Ben
- Joined
- Jan 31, 2022
- Messages
- 424
So a financial advisor is a fiduciary? And I have no idea what annuities are. Sigh. As I said, my husband was the brains. I can see I have a lot of research to do to try and understand even just the words, before anything about decisions. All I know is that my employer takes money from my check, adds some money to it, and it goes to a place called Voya. I occiasionaly get mail from Voya that has lots of charts and graphs that I find confusing.
In my last job I had a pension and they would periodically have someone from a financial firm come in and talk to us about opening an IRA. I went ahead and met with the gal one time, and said I was very concerned about know what companies my money would be invested in, as I had certain beliefs. My point was that I would not support any firms that promoted abortion, but she immediately jumped off the deep end and said oh yes, we have a special package for moral investing that avoids all firearms, ammunition, or alcohol! I explained to her that those were exactly the sort of companies I was interested in, and left her spluttering as I walked out the door.
At least the man I'm going to see comes highly recommended from a friend, and she's very careful with who she trusts, so there's that.
I will keep reading and trying to understand, I thank you for your responses.
In my last job I had a pension and they would periodically have someone from a financial firm come in and talk to us about opening an IRA. I went ahead and met with the gal one time, and said I was very concerned about know what companies my money would be invested in, as I had certain beliefs. My point was that I would not support any firms that promoted abortion, but she immediately jumped off the deep end and said oh yes, we have a special package for moral investing that avoids all firearms, ammunition, or alcohol! I explained to her that those were exactly the sort of companies I was interested in, and left her spluttering as I walked out the door.
At least the man I'm going to see comes highly recommended from a friend, and she's very careful with who she trusts, so there's that.
I will keep reading and trying to understand, I thank you for your responses.
So glad you are doing research.
All financial advisors are required by law from the FDIC to be a fiduciary.
...Just like all drivers are required by law not to exceed the speed limit.
Have you ever seen somebody speeding? Naa.
Both of these are unenforceable.
Voya has a huge base and a name to uphold.
in my book.
Last edited:
- Joined
- Sep 4, 2020
- Messages
- 9,361
Yes but there are some that imply they are financial advisors but are not fiduciaries.So glad you are doing research.
All financial advisors are required by law from the FDIC to be a fiduciary.
...Just like all drivers are required by law not to exceed the speed limit.
Have you ever seen somebody speeding? Naa.
Both of these are unenforceable.
Voya has a huge base and a name to uphold.
Ask straight out if they are fiduciaries.
Ben
They will all say "yes".
...Just like when I say that I never exceed the speed limit.
(Oh and that radar-detector is just to keep me 'informed'
)
Last edited:
Heh. Good point. Maybe they will.They will all say "yes".
...Just like when I say that I never exceed the speed limit.
