Peculiar comment by local coin dealer about PM's

piecesofme

He blamed pm's not having any legs (as far as rising in value the way he feels they should be) on the younger generation not being into the hobby and knowing how to save.
I was quick to remind him that silver is up 18% in the last 12 months and that I know for a fact that he has benefited from it.

He wasn't having it, he thinks silver should be at least $30/oz and said if "kids" were buying it for their future the way they should be that would cause greater demand and therefore a rise in value. He says the younger generation doesn't know how to save because they're given everything either by their parents or the government.
I thought about it for a second and decided just to nod in agreement so we could move on to our business because I was pressed for time.

Is there anything that you would like to say about his view, either in agreement or counter?

MsMorrisine

if monkeys bought silver it'd be $100

1630Boston

If monkey's could buy silver I would have a few as pets.

piecesofme

@MsMorrisine said:
if monkeys bought silver it'd be $100

Unsure what this means or eludes to pertaining to the topic. Did a high speed plane just fly over my head?

BLee23

I likely fit in the category of someone your dealer considers a "kid." I have been trading in silver for over a decade. When I started buying it was in the mid-9's. I watched its meteoric rise and subsequent fall. Neither had anything to do with the purchasing power of the younger generation, and I do not believe spot price in general does either.

There are some young people that choose to invest their money in silver, others that have found other places to park their savings, and others that have no money to save.

I am sure he thinks all younger people are living off of handouts, however, like many people I know I have worked very hard to develop and advance in my career. He may wish that PM's were the savings vehicle of choice for young people, but the fact is there are many, many places to park your money other than metals. He may just be behind the curve on other options with the younger crowd wondering why his generation hasn't caught up yet.

cohodk

One generation blaming another for their woes. Indeed, history does repeat.

Downtown1974

hmmmm... while I agree that supply and demand will move prices, I disagree that the burden of low spot prices is resting on the shoulders of "kids" lack of saving.
Sounds like he wanted to spark some political dialogue with you.

MsMorrisine

@piecesofme said:

@MsMorrisine said:
if monkeys bought silver it'd be $100

Unsure what this means or eludes to pertaining to the topic. Did a high speed plane just fly over my head?

Nah

I'll leave off the but's and just note the seller is dealing in if's & and's

MsMorrisine

@Downtown1974 said:
hmmmm... while I agree that supply and demand will move prices, I disagree that the burden of low spot prices is resting on the shoulders of "kids" lack of saving.
Sounds like he wanted to spark some political dialogue with you.

And.....

Do they have anything to save?

1630Boston

In my humble opinion, and having a 12 year old growing up fast................Things have changed exponentially in many ways over the past 1 or 2 generations. I worked on 'computers' before they had keyboards, monitors or mice. I remember when the TV broadcasting shut off at 10 and then 11 o'clock. There are so many factors affecting the present and next generations that I think 'blaming' them for our investment objectives is just not right.

Only my opinion.

piecesofme

I hope this doesn't cause any contraversy (probably spelled incorrectly lol). It was not meant to pit one generation against another or anything like that, so I really hope no one takes it too personal. I just posed the question if you have anything to say just to have some conversation here.
I agree with most of what was already mentioned. The dealer may be a bit out of touch and unwilling to catch and keep up with changing times. I think he may have been coming from the angle that he'd like to see some fresh new faces coming into his 35+ year business, and it may sadden him to not see that happening. He was probably blowing smoke to me saying it's the younger generations fault for the lack of interest in the hobby. In fact, I blame the older generation (myself included to some degree) for not doing a better job passing the collectors torch.
I did make a concerted effort with mine, but you can only lead a horse to water so many times.

1630Boston

@piecesofme
I took no offense to your post and do not take it personally. Actually I thought your post was a great post .
I think that you provoked a lot of opinions here, none wrong and none correct. Just valid opinions..
Thank you for posting, any discussions are a learning experience.

1630Boston

@piecesofme
I have to 'force' my son to fill his clad dime folders with coins that I give him when I get home from work.
So I totally agree with your thoughts.
And having grown up on a farm...................I agree with leading a horse to water.

Baley

The metal-handling world, including all the dealers and folks like those that visit this board, is absolutely awash in silver collectibles.

Of course we'd like the younger folks to buy this stuff from us at ever higher prices and make it into components for electronics.

ricko

I seriously doubt the theory put forth by the dealer in the OP.... kids do not invest in PM's for their future..well, maybe there are one or two ...there is always the exception to the rule.... Metals are down, the dollar is up.... Europe is in major flux....Those are the pertinent points. Cheers, RickO

hchcoin

Most people (young and old) don't know how to manage their finances. Most people are up to their eyeballs in debt and most people don't budget let alone save. I think one of the biggest changes between older folks and younger folks is the creation and overuse of credit cards. I don't think many people in their sixties and older had credit cards when they were 18. Kids these days are sucked into the debt trap as soon as they turn 18 and they struggle under the enormous burden and most can't pay for their bills let alone buy silver.

I also agree with @cohodk

TwoSides2aCoin

Children are kids to the age of 25 nowadays. When I was a child, adulthood was expected of me at the age of 12. And by the time I was 15 I realized it was adults who complicated life. And that meant I was partially to blame.

PerryHall

@TwoSides2aCoin said:
Children are kids to the age of 25 nowadays. When I was a child, adulthood was expected of me at the age of 12. And by the time I was 15 I realized it was adults who complicated life. And that meant I was partially to blame.

Things are a lot different now. When you were a kid the life expectancy was only 35.

DrBuster

Get off my lawn you stupid kids, especially when you've never asked to cut it for money because your folks coddled your sorry ass.

BLUEJAYWAY

One thing I do know is based on info. from our realtor friend. The melenials are not that much interested in home ownership at this point in time. Apartment living is the choice for those that she deals with. For previous generations home ownership was the goal. Now maybe not so much. Mobility is a key factor for them. In my area we have had a glut of new apartment complex building. So maybe their goals are changing and their view of how they look at the future including the PM investment arena is not as appealing to them. I have one friend who is a milenial and he is buried in silver. As is a fellow boomer friend. Difference being the milenial bought high (when price for silver was +$30) assuming a higher valued ceiling, while the boomer bought low and can ride out the fall. And the pace of the new world has heightened. Where we sat with our books trains,stamps, coins, and other leisure hobby's the new group is more go,go,go. My milenial nieces are a perfect example. No interest in PM's/coins whatsoever. This does not even factor in their involvement with all the new tech. devices coming onto market by the hour. They will be a dictating force from here on out and will set the guidelines. After all the milenials are now the majority in the marketplace, and they will be the new targets for consumer goods by manufacturers.

derryb

Balancing a checkbook should be taught in school.

Colleges should ban credit card companies from setting up booths to lure in the suckers.

PaleElf

You all sound like my grandparents.

cohodk

@derryb said:
Balancing a checkbook should be taught in school.

Colleges should ban credit card companies from setting up booths to lure in the suckers.

Yes, censorship is much better than education. Lol.

derryb

fitting comment from the forum's head censor. lol.

ricko

Balancing a checkbook WAS taught in school when I was in High School.... and yes, millennials seem to be living in the moment, all social without goals...oh yes, they do have 'wants', but somehow think 'it will just happen'.... no plans to achieve those wants....without a plan, they have no goal. The very term plan indicates an objective. I am watching my grand daughters (college educated) awaken - albeit slowly - to reality. Cheers, RickO

cohodk

@derryb said:
fitting comment from the forum's head censor. lol.

I've never censored anything. I do call out and correct erroneous, misinformed and just plain wrong comments. If you feel I call you out most often then it's because you are most wrong.

Your comment about credit cards is the same as that used for gun control. Why do you constantly fight against personal responsibility?