Price of metals?

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I watch the business news every day. Some so called “experts” are claiming gold will hit $3,000 either this year or next. I don’t try and predict anything. And I am no longer in the accumulation stage in my life as I just recently retired. I personally don’t think metals are a good investment, but that is just me. If you decide that metals are a good investment for you might check out silver as it usually goes up faster than gold. But when the bottom falls out it will go down faster as well.

When I was “Buying metals” I was actually buying collector coins (silver, gold and platinum) as a collector, not as bullion and not to make any money. Many years later when I needed money to fund a project I sold my collection on eBay and made a very nice profit.

If you want to speculate, I suggest you buy a Silver or Gold ETF that is designed to simulate the rise and fall of Silver or Gold. ETF’s are easy to buy and sell and you won’t have to find someone to buy your actual metals. JMHO
 
NEVER buy any "paper" silver or gold. If you don't physically have it, you don't have it at all. If you are looking to hold some precious metals in the event of economic calamity, no one will deliver your paper gold when the excrement hits the rotating oscillator.
 
I bought S&G from the 70's to the 90's and finally dumped it at the best price I could. They always say it's undervalued and going up bla bla bla... you can't even sell it for bid unless its to another sucker. in 30 years I would have made more in interest from a savings account.

As for coins- only the MS-investment grades can be in the money- i have Coin Prices mags from the 80's that show "official" collector values for XF-AU higher than today's rags... but you won't get that either. Dealers will never buy any where near the listed value and their buy/sell premium will get you every time. Used to be 1~3% but recently I have heard numbers as high as 10% off bid...
I also have to laugh at those buying the shiny 1 oz copper rounds for $5 ea since there is only .25 of spot copper in them, they will never get their money back.

I have a gold fund in my IRA... been there 20 or 30 years and is just now making a little money.

My SLV ETF in my Roth was making money on a weekly buy/sell roll but then I got caught at the high a few years ago and it hasn't recovered yet- so that is another loser... Short term, you can play the market but you have to have turn over to make $$ -holding long term doesn't play like they used to promise us (even if you do make a little long term, don't calculate inflation values if you want to keep smiling.
 
No doubt there are much better investments in the markets than metals. Metals generally only go up in value when there is panic and/or insecurity setting in somewhere in the world. But I also don’t think metals are a good investment for a SHTF scenario either. Most retailers are not set up to accept gold or silver as a currency. And it will take time for them to figure out how to in this scenario. If they even decide to do so. They are basically set up only for cash and electronic transactions. And most people who are looking for staple items don’t want metals, they want TP, food, ammo, etc. The better bet for SHTF scenarios are to stock up on items that will disappear quickly when supplies dry up such as TP, food, ammo, medical supplies, drugs, etc. But this is JMHO.
 
The broader market is rallying again this morning. The Dow futures are up 1.25%. The S&P 500 is a fraction away from a new record high.

And gold is down approximately 3.5% or around $75 as I write this.
 
In 1993 my dad sold everything he had and spent it on silver and gold coins.
He is still waiting for the price of silver to reach $50/oz and gold, $2500/oz.
I don't think is he going to live long enough.
 
DrEarlCordova said:
In 1993 my dad sold everything he had and spent it on silver and gold coins.
He is still waiting for the price of silver to reach $50/oz and gold, $2500/oz.
I don't think is he going to live long enough.
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He did really well with gold then. But yeah, when it comes to silver, you can't listen to everyone else. Yes, the market has been artificially manipulated. Yes, at some point it will finally equalize. But no,...nobody can call when that's going to happen. And all the ads you see from gold sellers saying "Now is the time to buy, the market is primed to explode" are all guys who bought it when it was low and are now doing their best to drive it higher to sell to the suckers.

When it's the right time to buy, NOBODY is telling you its the time. The time to buy ammo is BEFORE the panic. The same with gold and silver.
 
Suck My Glock said:
When it's the right time to buy, NOBODY is telling you its the time. The time to buy ammo is BEFORE the panic. The same with gold and silver.
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That is right on target! :lol:
 
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