@air4mdc said:
Take this advice for what’s it worth, and I think it’s pretty sound and worthy of some thought on your part.
Being twenty-three and a contractor the odds are pretty favorable that you will switch careers or something will happen to your job in the not so distant future.
So, my advice to you is forget stacking silver. And gold is too uncertain for you to invest in and to see a good return for how much you would need to invest in to make some money. Remember, silver and gold does not pay dividends.
You need to stash some cash first off. At least six months of emergency money.
Then you need to look into a company sponsored 401K. Max the contribution out. Or start a Roth or an IRA with an investment firm if your company does not sponsor such an investment.
Then if you have some discretionary funds left over to play with after paying bills and having money for everyday living expenses, then, maybe buy some silver.
Personally, I would not purchased more than ASE a week.
It’s all about time.....and the compounding of your investment.
Get into the stock market and ride the highs and lows for the next 30-40years. Max out and you will have several million plus.
I would highly discourage my children from investing in PM’s.
Just for the heck of it.....look at FDX, BABA and ADBE. These are investment returns.
Again.....forget silver and gold. You will never get rich on it.
Collect for fun and enjoy this as a hobby not an investment.
I certainly appreciate your advice and opinion friend. And I agree being a contractor isn't a what you would call retirement job, but there will always be a need for construction and I would consider myself pretty well rounded in all trades. That being said, making returns off silver would be awesome but I have long term plans more for it being security for my son when I'm gone. My plan is to buy 100 to 200 in ASEs a week for five years . And then I'll see how it goes from there. But if the plan doesnt go as planned it will not ruin collecting for me. I've got bitten by the coin bug and don't think that can be undone lol. But again I certainly appreciate your advice and I shall be cautious with my journey with pm. And again thank you to everyone who has commented and gav me there advice on where to start. It is very much appreciated!!
Security lies in a diversified portfolio - not to mention life lessons from Dad! If silver is the security, something really bad happened in between.
All comments reflect the opinion of the author, evn when irrefutably accurate.
A twenty-three year old with a kid needs money in a savings account, and a pretty fair amount of it, before they start to plunk $2500+ per week (?) into silver bullion coins or into any form of coins.
As for leaving a legacy to some heir, you are likely to be alive another sixty years (unless your work or your recreation involves unusual physical risks). You do have a lot of living ahead of you. You are not expected to have this stuff totally all figured out before you are twenty-five, or thirty, or thirty-five.
I'd suggest buying two rolls of silver eagles (forty coins) as a one shot way of 'scratching the itch' that you have at this moment. Presently, silver is neither real expensive, nor is it real cheap. Buy the two rolls now and see how you feel about the coins and about your future prospects in six months or so. Build some savings. Kids are expensive. Life is unpredictable.
@TwoSides2aCoin said:
Picked up a few hundred FV in 90%. Want some ? Former contractor spamming here.
Will message you
My point was primarily for numismatic purposes. If you want to play the bullion game, go ahead. The returns for cherry picking are much greater.
You’ve had a few threads showing the gift of finding such (DDO’s, Wide AMs, etc., ). Why bulk up on silver or gold bullion when you can do better (margin wise) finding collectibles in the lot ? ( 90%).
Sorry to go off course. Thinking coins here.
I hope your putting 10% to 15 % at works 401K program FIRST right? Everything I buy is after the 15% goes into the 401K to get the companies FREE % of match money!!!!!
Some times one thing will work for one and not for another. I look for all kinds of way to buy at a discount and I think you should do the same. You or anyone can buy eagles at $1.50 to $2.00 over spot. Try to find stuff you can buy at spot or back of spot or even some cherry picking that will off set some of your perches and some time pay for all your perches if you find the right one's. It will take a bit of work but can be fun and will pay off in the long run. But that is just me dumb Type2.
@air4mdc said:
Take this advice for what’s it worth, and I think it’s pretty sound and worthy of some thought on your part.
Being twenty-three and a contractor the odds are pretty favorable that you will switch careers or something will happen to your job in the not so distant future.
So, my advice to you is forget stacking silver. And gold is too uncertain for you to invest in and to see a good return for how much you would need to invest in to make some money. Remember, silver and gold does not pay dividends.
You need to stash some cash first off. At least six months of emergency money.
Then you need to look into a company sponsored 401K. Max the contribution out. Or start a Roth or an IRA with an investment firm if your company does not sponsor such an investment.
Then if you have some discretionary funds left over to play with after paying bills and having money for everyday living expenses, then, maybe buy some silver.
Personally, I would not purchased more than ASE a week.
It’s all about time.....and the compounding of your investment.
Get into the stock market and ride the highs and lows for the next 30-40years. Max out and you will have several million plus.
I would highly discourage my children from investing in PM’s.
Just for the heck of it.....look at FDX, BABA and ADBE. These are investment returns.
Again.....forget silver and gold. You will never get rich on it.
Collect for fun and enjoy this as a hobby not an investment.
I certainly appreciate your advice and opinion friend. And I agree being a contractor isn't a what you would call retirement job, but there will always be a need for construction and I would consider myself pretty well rounded in all trades. That being said, making returns off silver would be awesome but I have long term plans more for it being security for my son when I'm gone. My plan is to buy 100 to 200 in ASEs a week for five years . And then I'll see how it goes from there. But if the plan doesnt go as planned it will not ruin collecting for me. I've got bitten by the coin bug and don't think that can be undone lol. But again I certainly appreciate your advice and I shall be cautious with my journey with pm. And again thank you to everyone who has commented and gav me there advice on where to start. It is very much appreciated!!
Security lies in a diversified portfolio - not to mention life lessons from Dad! If silver is the security, something really bad happened in between.
I'm just saying that one of the things I would like to build up to leave behind sir
@TwoSides2aCoin said:
Picked up a few hundred FV in 90%. Want some ? Former contractor spamming here.
Will message you
My point was primarily for numismatic purposes. If you want to play the bullion game, go ahead. The returns for cherry picking are much greater.
You’ve had a few threads showing the gift of finding such (DDO’s, Wide AMs, etc., ). Why bulk up on silver or gold bullion when you can do better (margin wise) finding collectibles in the lot ? ( 90%).
Sorry to go off course. Thinking coins her
I'm still doing both my main interest is still in error coins in coins at general lol don't get me wrong
@BillDugan1959 said:
A twenty-three year old with a kid needs money in a savings account, and a pretty fair amount of it, before they start to plunk $2500+ per week (?) into silver bullion coins or into any form of coins.
As for leaving a legacy to some heir, you are likely to be alive another sixty years (unless your work or your recreation involves unusual physical risks). You do have a lot of living ahead of you. You are not expected to have this stuff totally all figured out before you are twenty-five, or thirty, or thirty-five.
I'd suggest buying two rolls of silver eagles (forty coins) as a one shot way of 'scratching the itch' that you have at this moment. Presently, silver is neither real expensive, nor is it real cheap. Buy the two rolls now and see how you feel about the coins and about your future prospects in six months or so. Build some savings. Kids are expensive. Life is unpredictable.
Okay I will take your advice and see how I feel about the first couple rolls. And he's definitely expensive LOL but any amount of money I spend my son is well worth it because he's awesome and I love him :-)
@Type2 said:
Some times one thing will work for one and not for another. I look for all kinds of way to buy at a discount and I think you should do the same. You or anyone can buy eagles at $1.50 to $2.00 over spot. Try to find stuff you can buy at spot or back of spot or even some cherry picking that will off set some of your perches and some time pay for all your perches if you find the right one's. It will take a bit of work but can be fun and will pay off in the long run. But that is just me dumb Type2.
I found a local coin shop that sells them $2 over spot price my friend and I'm definitely not looking for any kind of returns anytime soon LOL and I'm most definitely still putting my main efforts towards error and variety coins
@BillDugan1959 said:
A twenty-three year old with a kid needs money in a savings account, and a pretty fair amount of it, before they start to plunk $2500+ per week (?) into silver bullion coins or into any form of coins.
As for leaving a legacy to some heir, you are likely to be alive another sixty years (unless your work or your recreation involves unusual physical risks). You do have a lot of living ahead of you. You are not expected to have this stuff totally all figured out before you are twenty-five, or thirty, or thirty-five.
I'd suggest buying two rolls of silver eagles (forty coins) as a one shot way of 'scratching the itch' that you have at this moment. Presently, silver is neither real expensive, nor is it real cheap. Buy the two rolls now and see how you feel about the coins and about your future prospects in six months or so. Build some savings. Kids are expensive. Life is unpredictable.
Okay I will take your advice and see how I feel about the first couple rolls. And he's definitely expensive LOL but any amount of money I spend my son is well worth it because he's awesome and I love him :-)
Of course, silver has popped upwards by 40 cents per ounce since I wrote that this morning!
@BillDugan1959 said:
A twenty-three year old with a kid needs money in a savings account, and a pretty fair amount of it, before they start to plunk $2500+ per week (?) into silver bullion coins or into any form of coins.
As for leaving a legacy to some heir, you are likely to be alive another sixty years (unless your work or your recreation involves unusual physical risks). You do have a lot of living ahead of you. You are not expected to have this stuff totally all figured out before you are twenty-five, or thirty, or thirty-five.
I'd suggest buying two rolls of silver eagles (forty coins) as a one shot way of 'scratching the itch' that you have at this moment. Presently, silver is neither real expensive, nor is it real cheap. Buy the two rolls now and see how you feel about the coins and about your future prospects in six months or so. Build some savings. Kids are expensive. Life is unpredictable.
Okay I will take your advice and see how I feel about the first couple rolls. And he's definitely expensive LOL but any amount of money I spend my son is well worth it because he's awesome and I love him :-)
Of course, silver has popped upwards by 40 cents per ounce since I wrote that this morning!
@TwoSides2aCoin said:
" Silver will go back down to $10.00 *. " Wait for the drop, then load up.
I read that here, a couple years ago.
Well I've been studying up on the highs and lows of silver and in the past 5 years and in the past 5 years I think the lowest silver has been was somewhere around 13 bucks per ounce I think don't quote me on that. And the highest per ounce was somewhere around 38 I believe per ounce
Have fun. Many of us been living/dealing with the highs and lows for years. The stuff goes up and it goes down. Who knows how much to get ? Inching in only made me wish I would have dove in, not dipped my toes apprehensively. But, it's a good thing there are like-minded people in it, too. Otherwise, we wouldn't be sharing and baring it all out here.
I prefer assembling coins, and stacking eagles was not that fun for me but a lot of customers go that route. They look good in an album, though. Year over year, that is.
Well I'm 23 I'm a contractor so I make fair amount of money so I'm more than confident I can gradually build up and whatever I decide to start buying which I think I'm going to start with ASE's
Contractor? stack copper wire and pipe
No Way Out: Stimulus and Money Printing Are the Only Path Left
Something else to consider........
If your going to stack that much silver you better have a very large safe and I wouldn’t mention a peep to anyone about your hidden treasure.
I have some friends that have six figures to play with in PMs and they don’t even fool around with physical silver because of how much space a large amount would take up.
My experience tells me that your taking the wrong approach to a successful financial portfolio.
@air4mdc said:
Take this advice for what’s it worth, and I think it’s pretty sound and worthy of some thought on your part.
Being twenty-three and a contractor the odds are pretty favorable that you will switch careers or something will happen to your job in the not so distant future.
So, my advice to you is forget stacking silver. And gold is too uncertain for you to invest in and to see a good return for how much you would need to invest in to make some money. Remember, silver and gold does not pay dividends.
You need to stash some cash first off. At least six months of emergency money.
Then you need to look into a company sponsored 401K. Max the contribution out. Or start a Roth or an IRA with an investment firm if your company does not sponsor such an investment.
Then if you have some discretionary funds left over to play with after paying bills and having money for everyday living expenses, then, maybe buy some silver.
Personally, I would not purchased more than ASE a week.
It’s all about time.....and the compounding of your investment.
Get into the stock market and ride the highs and lows for the next 30-40years. Max out and you will have several million plus.
I would highly discourage my children from investing in PM’s.
Just for the heck of it.....look at FDX, BABA and ADBE. These are investment returns.
Again.....forget silver and gold. You will never get rich on it.
Collect for fun and enjoy this as a hobby not an investment.
I certainly appreciate your advice and opinion friend. And I agree being a contractor isn't a what you would call retirement job, but there will always be a need for construction and I would consider myself pretty well rounded in all trades. That being said, making returns off silver would be awesome but I have long term plans more for it being security for my son when I'm gone. My plan is to buy 100 to 200 in ASEs a week for five years . And then I'll see how it goes from there. But if the plan doesnt go as planned it will not ruin collecting for me. I've got bitten by the coin bug and don't think that can be undone lol. But again I certainly appreciate your advice and I shall be cautious with my journey with pm. And again thank you to everyone who has commented and gav me there advice on where to start. It is very much appreciated!!
“There will always be a need for construction”......that’s not a realistic statement if you were in the construction trade during “The Great Recession.” Construction trade was hit hard for about 5-6 years. I believe some areas are still depressed.
Change careers.....be a nurse and you will always have a job.
@air4mdc said:
Take this advice for what’s it worth, and I think it’s pretty sound and worthy of some thought on your part.
Being twenty-three and a contractor the odds are pretty favorable that you will switch careers or something will happen to your job in the not so distant future.
So, my advice to you is forget stacking silver. And gold is too uncertain for you to invest in and to see a good return for how much you would need to invest in to make some money. Remember, silver and gold does not pay dividends.
You need to stash some cash first off. At least six months of emergency money.
Then you need to look into a company sponsored 401K. Max the contribution out. Or start a Roth or an IRA with an investment firm if your company does not sponsor such an investment.
Then if you have some discretionary funds left over to play with after paying bills and having money for everyday living expenses, then, maybe buy some silver.
Personally, I would not purchased more than ASE a week.
It’s all about time.....and the compounding of your investment.
Get into the stock market and ride the highs and lows for the next 30-40years. Max out and you will have several million plus.
I would highly discourage my children from investing in PM’s.
Just for the heck of it.....look at FDX, BABA and ADBE. These are investment returns.
Again.....forget silver and gold. You will never get rich on it.
Collect for fun and enjoy this as a hobby not an investment.
I certainly appreciate your advice and opinion friend. And I agree being a contractor isn't a what you would call retirement job, but there will always be a need for construction and I would consider myself pretty well rounded in all trades. That being said, making returns off silver would be awesome but I have long term plans more for it being security for my son when I'm gone. My plan is to buy 100 to 200 in ASEs a week for five years . And then I'll see how it goes from there. But if the plan doesnt go as planned it will not ruin collecting for me. I've got bitten by the coin bug and don't think that can be undone lol. But again I certainly appreciate your advice and I shall be cautious with my journey with pm. And again thank you to everyone who has commented and gav me there advice on where to start. It is very much appreciated!!
“There will always be a need for construction”......that’s not a realistic statement if you were in the construction trade during “The Great Recession.” Construction trade was hit hard for about 5-6 years. I believe some areas are still depressed.
Change careers.....be a nurse and you will always have a job.
It's not that there wasn't a need for construction. It's that there wasn't money for building houses during the recession. Construction will always be around no matter what I think I'm going to stay right where I'm at
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
@Baley said:
My advice, if you must buy silver bullion, is to buy items you will enjoy owning, looking at, photographing, and showing to family and friends, even if you end up losing money on them when sell time comes, and even if you grow old and die owning them for decades waiting for them to go up and they go to your heirs.
@ccmorgan said:
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
Thanks for the advice man I shall post here and then what I buy
I found a local coin shop that sells them $2 over spot price my friend and I'm definitely not looking for any kind of returns anytime soon LOL and I'm most definitely still putting my main efforts towards error and variety coins
Wow... well at least you will always be known as a collector...
I found a local coin shop that sells them $2 over spot price my friend and I'm definitely not looking for any kind of returns anytime soon LOL and I'm most definitely still putting my main efforts towards error and variety coins
Wow... well at least you will always be known as a collector...
Yup, only a coin collector would be happy to pay a 10+% premium for the honor of owning a commodity and not expect any returns. And, of course, 5 years from now, if they sell the same coins for a 50 cent "profit" on the spread, they'll consider it a "gain" rather than the loss that it actually is since just about any other investment would have yielded more over a 5 year period. smh
All comments reflect the opinion of the author, evn when irrefutably accurate.
@ccmorgan said:
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
Yes, apparently silver spikes every 30 years. Of course, stocks yield an average of 10% per year over 10 year or longer periods. So, by the rule of 72, assuming a conservative 7% stock return, if you buy silver today at $17 and you buy an S&P500 fund for $17, 30 years from now the silver has to be worth $136 to be a better investment than the S&P500 fund.
All comments reflect the opinion of the author, evn when irrefutably accurate.
The math above is not quite right but I agree with your main point. 1) the average investment return does not vary depending on the time period measured (since it’s an average) but the variance will be relatively smaller over longer periods. 2) an investment that returns 10% doubles every 7 years, so it would double more than 4 times in 30 years. Silver would have to be worth $296.64 to match that return.
All that said, the main reason to invest in commodities (or other assets with lower expected returns) is that these investments will perform well when stocks don’t. Physical silver as an investment is a poor choice because of the spread (and storage issues) and you are already long metals with your coin investment (although errors are probably less correlated than say, MS63-5 Morgans).
We have no idea whether or not the S&P 500 (and the companies/stocks which comprise it) will even exist in 30 years. That's the kind of risk that most people don't much think about.
Americans are like fish in a very large and stable financial pond. We assume (or don't notice) the relatively placid water all around us. American stability since the end of the Second World War is exceptional in history, kind of like Britain from 1815 to (say) the Boer Wars. After the relative stability and prosperity of the nineteenth century, very few British could have expected the butt-whippings their country went through in the twentieth century.
People with a little historical perspective buy precious metals as a hedge against uncertainty, not to simply make a big killing.
A twenty-three year old is well placed to buy a little gold and silver. They have a lot of time.
@ccmorgan said:
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
Yes, apparently silver spikes every 30 years. Of course, stocks yield an average of 10% per year over 10 year or longer periods. So, by the rule of 72, if you buy silver today at $17 and you buy an S&P500 fund for $17, 30 years from now the silver has to be worth $136 to be a better investment than the S&P500 fund.
Not even 1% of my $$$ goes into silver. I've lost much more just buying mint/proof sets from the mint over the years. It's something I like to do not just for the $$$ but that's a nice + if it happens.
@ccmorgan said:
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
Yes, apparently silver spikes every 30 years. Of course, stocks yield an average of 10% per year over 10 year or longer periods. So, by the rule of 72, if you buy silver today at $17 and you buy an S&P500 fund for $17, 30 years from now the silver has to be worth $136 to be a better investment than the S&P500 fund.
Not even 1% of my $$$ goes into silver. I've lost much more just buying mint/proof sets from the mint over the years. It's something I like to do not just for the $$$ but that's a nice + if it happens.
I'm not arguing against buying coins or silver because you like it. But you have to separate the collecting aspect of it from the "investment" aspect of it. If you buy silver eagles for $20 each now and sell them for $22 each 5 or 10 years from now, that is NOT a good investment. It's better than a lot of other hobbies, you got most of your money back (considering inflation). But your "investment" didn't even keep up with inflation much less other investment opportunities including things as mundane as savings bonds.
All comments reflect the opinion of the author, evn when irrefutably accurate.
@david3142 said:
The math above is not quite right but I agree with your main point. 1) the average investment return does not vary depending on the time period measured (since it’s an average) but the variance will be relatively smaller over longer periods. 2) an investment that returns 10% doubles every 7 years, so it would double more than 4 times in 30 years. Silver would have to be worth $296.64 to match that return.
All that said, the main reason to invest in commodities (or other assets with lower expected returns) is that these investments will perform well when stocks don’t. Physical silver as an investment is a poor choice because of the spread (and storage issues) and you are already long metals with your coin investment (although errors are probably less correlated than say, MS63-5 Morgans).
Yes, you are quite right. I actually figured the yield at 7% just for safety's sake but neglected to mention that. Correction made.
All comments reflect the opinion of the author, evn when irrefutably accurate.
We have no idea whether or not the S&P 500 (and the companies/stocks which comprise it) will even exist in 30 years. That's the kind of risk that most people don't much think about.
Americans are like fish in a very large and stable financial pond. We assume (or don't notice) the relatively placid water all around us. American stability since the end of the Second World War is exceptional in history, kind of like Britain from 1815 to (say) the Boer Wars. After the relative stability and prosperity of the nineteenth century, very few British could have expected the butt-whippings their country went through in the twentieth century.
People with a little historical perspective buy precious metals as a hedge against uncertainty, not to simply make a big killing.
A twenty-three year old is well placed to buy a little gold and silver. They have a lot of time.
Let's not get all dramatic. The stock market has existed for 200 years and will exist in 30 years (barring Armageddon). The companies comprising any index change frequently which is why you buy large stock funds with hundreds of stocks not individual stocks with the bulk of your assets. If Armageddon strikes, you are right, your stocks are worthless. But, so's your gold and silver. You'll need bullets and beans.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I found a local coin shop that sells them $2 over spot price my friend and I'm definitely not looking for any kind of returns anytime soon LOL and I'm most definitely still putting my main efforts towards error and variety coins
Wow... well at least you will always be known as a collector...
Yup, only a coin collector would be happy to pay a 10+% premium for the honor of owning a commodity and not expect any returns. And, of course, 5 years from now, if they sell the same coins for a 50 cent "profit" on the spread, they'll consider it a "gain" rather than the loss that it actually is since just about any other investment would have yielded more over a 5 year period. smh
Well I'm not looking to get rich off of it. So you can take your bias opinion somewhere else thanks have a good day.
Seriously, you should also consider fractional gold in that percentage of PM's you decide is appropriate. Otherwise, you'll find yourself with 50 pounds of silver in a couple of decades, and wondering how you got there...
I'd suggest a five figure coin in the Stacks-Bowers auction. I mean, you gotta think long term, at your age. I can't pick the coin you'd be bidding up, but that's where I would go with my money. Then again, this is the crux. We are in a hobby, not an investing class. Investments ? That scares me, here.
I retired at age 53. How did I do that since I am not a CEO or politician?
I saved 20% of my income since I was 21. Company matches in stock savings plans (later 401k's) only added to the total. Invested in the stock market for the long haul. Never stopped investing except for two brief periods when buying/selling homes. I did not buy hot cars (except for a single splurge on a 1976 TransAm - cost me $5600 but sold it for $6200 - wish I still had it - but I digress.) Did not buy other expensive items (or coins). I lived comfortably.
I stayed away from precious metals as an investment. You see, there are many forces that "control" the markets. I manufactured auto catalysts for years using platinum, palladium, and rhodium. The more I learned about these markets, the more I decided to stay away from gold and silver. Too much risk for my taste.
I enjoyed 32 years of rising stock markets and the compounding that time provides. I started small, but the nest egg always grew, and grew, and grew.
Last of all, if you are not financially astute (and MOST people are not), I recommend finding a financial advisor that can help you meet your goals. (I am not a financial advisor and don't recommend any particular company - but I was lucky and found a great one about 20 years ago.) I turned over my assets to him to manage and started to take it easy. He has done a great job for me.
I know this goes against the grain for many people. But it is simply about priorities and what YOU spend YOUR money on.
Good luck.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
@Cameonut said:
I retired at age 53. How did I do that since I am not a CEO or politician?
I saved 20% of my income since I was 21. Company matches in stock savings plans (later 401k's) only added to the total. Invested in the stock market for the long haul. Never stopped investing except for two brief periods when buying/selling homes. I did not buy hot cars (except for a single splurge on a 1976 TransAm - cost me $5600 but sold it for $6200 - wish I still had it - but I digress.) Did not buy other expensive items (or coins). I lived comfortably.
I stayed away from precious metals as an investment. You see, there are many forces that "control" the markets. I manufactured auto catalysts for years using platinum, palladium, and rhodium. The more I learned about these markets, the more I decided to stay away from gold and silver. Too much risk for my taste.
I enjoyed 32 years of rising stock markets and the compounding that time provides. I started small, but the nest egg always grew, and grew, and grew.
Last of all, if you are not financially astute (and MOST people are not), I recommend finding a financial advisor that can help you meet your goals. (I am not a financial advisor and don't recommend any particular company - but I was lucky and found a great one about 20 years ago.) I turned over my assets to him to manage and started to take it easy. He has done a great job for me.
I know this goes against the grain for many people. But it is simply about priorities and what YOU spend YOUR money on.
Good luck.
Finally somebody that make some sense and did it right.......besides myself
Comments
Security lies in a diversified portfolio - not to mention life lessons from Dad! If silver is the security, something really bad happened in between.
All comments reflect the opinion of the author, evn when irrefutably accurate.
A twenty-three year old with a kid needs money in a savings account, and a pretty fair amount of it, before they start to plunk $2500+ per week (?) into silver bullion coins or into any form of coins.
As for leaving a legacy to some heir, you are likely to be alive another sixty years (unless your work or your recreation involves unusual physical risks). You do have a lot of living ahead of you. You are not expected to have this stuff totally all figured out before you are twenty-five, or thirty, or thirty-five.
I'd suggest buying two rolls of silver eagles (forty coins) as a one shot way of 'scratching the itch' that you have at this moment. Presently, silver is neither real expensive, nor is it real cheap. Buy the two rolls now and see how you feel about the coins and about your future prospects in six months or so. Build some savings. Kids are expensive. Life is unpredictable.
Re-cycling is where it’s at. Pedal to the metal, as it is known, in the biz.
My point was primarily for numismatic purposes. If you want to play the bullion game, go ahead. The returns for cherry picking are much greater.
You’ve had a few threads showing the gift of finding such (DDO’s, Wide AMs, etc., ). Why bulk up on silver or gold bullion when you can do better (margin wise) finding collectibles in the lot ? ( 90%).
Sorry to go off course. Thinking coins here.
``https://ebay.us/m/KxolR5
@TwoSides2aCoin
As long as you know where you are going...................you are never "off course"
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Bad transactions with : nobody to date
I hope your putting 10% to 15 % at works 401K program FIRST right? Everything I buy is after the 15% goes into the 401K to get the companies FREE % of match money!!!!!
I’m a lost investment counselor Boston. I don’t like telling anyone where to go ...Especially if it requires risk.
``https://ebay.us/m/KxolR5
Some times one thing will work for one and not for another. I look for all kinds of way to buy at a discount and I think you should do the same. You or anyone can buy eagles at $1.50 to $2.00 over spot. Try to find stuff you can buy at spot or back of spot or even some cherry picking that will off set some of your perches and some time pay for all your perches if you find the right one's. It will take a bit of work but can be fun and will pay off in the long run. But that is just me dumb Type2.
Hoard the keys.
I'm just saying that one of the things I would like to build up to leave behind sir
I'm still doing both my main interest is still in error coins in coins at general lol don't get me wrong
Okay I will take your advice and see how I feel about the first couple rolls. And he's definitely expensive LOL but any amount of money I spend my son is well worth it because he's awesome and I love him :-)
I found a local coin shop that sells them $2 over spot price my friend and I'm definitely not looking for any kind of returns anytime soon LOL and I'm most definitely still putting my main efforts towards error and variety coins
Of course, silver has popped upwards by 40 cents per ounce since I wrote that this morning!
" Silver will go back down to $10.00 *. " Wait for the drop, then load up.
``https://ebay.us/m/KxolR5
Dang that's good I suppose lol
Well I've been studying up on the highs and lows of silver and in the past 5 years and in the past 5 years I think the lowest silver has been was somewhere around 13 bucks per ounce I think don't quote me on that. And the highest per ounce was somewhere around 38 I believe per ounce
Have fun. Many of us been living/dealing with the highs and lows for years. The stuff goes up and it goes down. Who knows how much to get ? Inching in only made me wish I would have dove in, not dipped my toes apprehensively. But, it's a good thing there are like-minded people in it, too. Otherwise, we wouldn't be sharing and baring it all out here.
I prefer assembling coins, and stacking eagles was not that fun for me but a lot of customers go that route. They look good in an album, though. Year over year, that is.
``https://ebay.us/m/KxolR5
One can buy ASE's with something extra:
United States ASE 1999 Silver - Painted
It came with a Certificate of Authenticity!
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
Don't
If you do, invest in slv on scottrade or somethin like it
Buy your son a house
Contractor? stack copper wire and pipe
No Way Out: Stimulus and Money Printing Are the Only Path Left
Something else to consider........
If your going to stack that much silver you better have a very large safe and I wouldn’t mention a peep to anyone about your hidden treasure.
I have some friends that have six figures to play with in PMs and they don’t even fool around with physical silver because of how much space a large amount would take up.
My experience tells me that your taking the wrong approach to a successful financial portfolio.
“There will always be a need for construction”......that’s not a realistic statement if you were in the construction trade during “The Great Recession.” Construction trade was hit hard for about 5-6 years. I believe some areas are still depressed.
Change careers.....be a nurse and you will always have a job.
I’d go with 90% U.S. silver coins. Meaty Franklin and Kennedys. Easy to buy in any amount, and highly liquid. Also quite cool!
Good luck!
Dave
It's not that there wasn't a need for construction. It's that there wasn't money for building houses during the recession. Construction will always be around no matter what I think I'm going to stay right where I'm at
Thank you!
Lots of varying advice here, so I'll just tell you what I do.
First you must have patience if your long term goal is to make some $$$ while your at it, mine is.
I but a little at a time when the price dips. The last few years silver has been in the $15-$20 range but you can still buy when it dips to 15-16ish/oz. SD bullion is a good place to buy generic rounds or 10oz bars. I watch for specials that co-inside with a market dip. .49 over spot with free shipping ect. Also paying with a personal check vs the additional fees with credit cards is important too. I also buy morgans ect IF and only IF the price is right and that depends heavily on condition. This you have to learn yourself. Flea markets, coin shops ect are usually better than the internet due to elevates prices and shipping.
Don't worry if you buy in the $16-$18 range then the price tanks. Buy more as the price dips. This is where the patience comes in. Most people buy high and sell low to "cut their losses" this is especially true with stocks and retirement funds and is the exact opposite of what you should do. You may have a temporary loss on paper but you solidify it when you actually sell.
I made a decent amount of $$$ with this method 5+ years ago when silver went to $40-$50/oz.
Good luck and let us know from time to time what you buy.
Is he in Afghanistan? If so be safe!
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
Like these:
https://www.apmex.com/product/98052/silver-antique-statue-frank-frazetta-collection-6-piece-set
Successful card BST transactions with cbcnow, brogurt, gstarling, Bravesfan 007, and rajah 424.
Thanks for the advice man I shall post here and then what I buy
Wow... well at least you will always be known as a collector...
Yup, only a coin collector would be happy to pay a 10+% premium for the honor of owning a commodity and not expect any returns. And, of course, 5 years from now, if they sell the same coins for a 50 cent "profit" on the spread, they'll consider it a "gain" rather than the loss that it actually is since just about any other investment would have yielded more over a 5 year period. smh
All comments reflect the opinion of the author, evn when irrefutably accurate.
Yes, apparently silver spikes every 30 years. Of course, stocks yield an average of 10% per year over 10 year or longer periods. So, by the rule of 72, assuming a conservative 7% stock return, if you buy silver today at $17 and you buy an S&P500 fund for $17, 30 years from now the silver has to be worth $136 to be a better investment than the S&P500 fund.
All comments reflect the opinion of the author, evn when irrefutably accurate.
The math above is not quite right but I agree with your main point. 1) the average investment return does not vary depending on the time period measured (since it’s an average) but the variance will be relatively smaller over longer periods. 2) an investment that returns 10% doubles every 7 years, so it would double more than 4 times in 30 years. Silver would have to be worth $296.64 to match that return.
All that said, the main reason to invest in commodities (or other assets with lower expected returns) is that these investments will perform well when stocks don’t. Physical silver as an investment is a poor choice because of the spread (and storage issues) and you are already long metals with your coin investment (although errors are probably less correlated than say, MS63-5 Morgans).
@jmlanzaf
We have no idea whether or not the S&P 500 (and the companies/stocks which comprise it) will even exist in 30 years. That's the kind of risk that most people don't much think about.
Americans are like fish in a very large and stable financial pond. We assume (or don't notice) the relatively placid water all around us. American stability since the end of the Second World War is exceptional in history, kind of like Britain from 1815 to (say) the Boer Wars. After the relative stability and prosperity of the nineteenth century, very few British could have expected the butt-whippings their country went through in the twentieth century.
People with a little historical perspective buy precious metals as a hedge against uncertainty, not to simply make a big killing.
A twenty-three year old is well placed to buy a little gold and silver. They have a lot of time.
I wish that I was 23 and know all that I know now
Not just about PM's
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb, Ricko
Bad transactions with : nobody to date
Oh hell, I was an complete idiot at that age. Now I am just stupid.
'Wee are too soon old, and too late schmart' - old German saying.
Not even 1% of my $$$ goes into silver. I've lost much more just buying mint/proof sets from the mint over the years. It's something I like to do not just for the $$$ but that's a nice + if it happens.
I'm not arguing against buying coins or silver because you like it. But you have to separate the collecting aspect of it from the "investment" aspect of it. If you buy silver eagles for $20 each now and sell them for $22 each 5 or 10 years from now, that is NOT a good investment. It's better than a lot of other hobbies, you got most of your money back (considering inflation). But your "investment" didn't even keep up with inflation much less other investment opportunities including things as mundane as savings bonds.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Yes, you are quite right. I actually figured the yield at 7% just for safety's sake but neglected to mention that. Correction made.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Let's not get all dramatic. The stock market has existed for 200 years and will exist in 30 years (barring Armageddon). The companies comprising any index change frequently which is why you buy large stock funds with hundreds of stocks not individual stocks with the bulk of your assets. If Armageddon strikes, you are right, your stocks are worthless. But, so's your gold and silver. You'll need bullets and beans.
All comments reflect the opinion of the author, evn when irrefutably accurate.
.
Well I'm not looking to get rich off of it. So you can take your bias opinion somewhere else thanks have a good day.
Buy low, sell high.
I don't think I've seen that offered yet.
Seriously, you should also consider fractional gold in that percentage of PM's you decide is appropriate. Otherwise, you'll find yourself with 50 pounds of silver in a couple of decades, and wondering how you got there...
I'd suggest a five figure coin in the Stacks-Bowers auction. I mean, you gotta think long term, at your age. I can't pick the coin you'd be bidding up, but that's where I would go with my money. Then again, this is the crux. We are in a hobby, not an investing class. Investments ? That scares me, here.
``https://ebay.us/m/KxolR5
I retired at age 53. How did I do that since I am not a CEO or politician?
I saved 20% of my income since I was 21. Company matches in stock savings plans (later 401k's) only added to the total. Invested in the stock market for the long haul. Never stopped investing except for two brief periods when buying/selling homes. I did not buy hot cars (except for a single splurge on a 1976 TransAm - cost me $5600 but sold it for $6200 - wish I still had it - but I digress.) Did not buy other expensive items (or coins). I lived comfortably.
I stayed away from precious metals as an investment. You see, there are many forces that "control" the markets. I manufactured auto catalysts for years using platinum, palladium, and rhodium. The more I learned about these markets, the more I decided to stay away from gold and silver. Too much risk for my taste.
I enjoyed 32 years of rising stock markets and the compounding that time provides. I started small, but the nest egg always grew, and grew, and grew.
Last of all, if you are not financially astute (and MOST people are not), I recommend finding a financial advisor that can help you meet your goals. (I am not a financial advisor and don't recommend any particular company - but I was lucky and found a great one about 20 years ago.) I turned over my assets to him to manage and started to take it easy. He has done a great job for me.
I know this goes against the grain for many people. But it is simply about priorities and what YOU spend YOUR money on.
Good luck.
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
Finally somebody that make some sense and did it right.......besides myself