Always been wanting to buy the physical kind just never understood why buy physical with a premium when you can buy slv or gold without a premium. Today piqued my interest with silver down 5%
Risky seeing that you are buying something that is valued against itself. Money is atleast valued against other currency. Gold was like what $1500-1600 6 months ago? Now what is it, $1300. Lost 2% today alone.
you can't look at gold or silver like that. gold and silver are real money. - pretend you open a vault from an ancient egyptian tomb and it has gold and whatever currency they used at the time.....what has more value today? Gold and silver are real money and at the rate we're printing money and devaluing the dollar I wish all my money was in gold or silver. I read somewhere that since the FED has come into existence $1 is now worth .03 today and the value of gold is many many many times higher I'm not a tinfoil hat guy, but our dollars are pretty useless and we keep printing, silver and gold will rise....
ok so mock me pouhe....do tell what happens to the value of our dollar over time? Just checked, silver was $5 20 years ago and is up 400% to $21 today meanwhile a $100k in cash in 1993 isn't worth $400k today.....so care to validate your argument?
Yes, I've heavily invested in Gold, which I've buried in several different locations around Houston. Or have I?
Ask yourself why is it that you want to own physical gold. Is it because you think it is going up or that your dollars are devaluing? If that's the case then buying GLD or SLV is fine. Or are you trying to put away some of your wealth in safekeeping for years, or even generations to come? If that is the case, do you think millennias from now when people open up your ancient tomb those couple of shares of GLD will be worth anything? Those are the instances you buy physical. Dollars are not useless. They are currency and our medium of exchange. You are going to have a troublesome time bringing a gold nugget to McDonalds trying to buy a Big Mac. Yes, fiat currencies will devalue over time, meaning gold, and other physical assets are guaranteed to eventually go higher and higher. Which is why it is prudent to have some saving in precious metals. But until we are grocery shopping with wheel barrels of cash, I'm still going to keep some dollars to pay my bills and eat and such.
But to answer your question, I hold roughly a quarter of my net assets in allocated bullion. And contribute about 5% of my paycheck to it every month. It is savings. The reason why I buy physical is because, as savings, I have zero interest in taking on ANY counter party risk whatsoever, regardless of how negligible. And the only things in the world guaranteed without counter party risks is physical holdings, not paper receipts like GLD/SLV.
There are assets more profitable than cash holdings and less volatile than gold or silver. For good reason our central bank makes an earnest effort to minimize excessive inflation or deflation.
I invest in physical chocolate and silk stockings. I have piles of it in my underground sealed bachelor pad. If we learned anything from Hogan's Heroes, when the apocalypse comes gold won't mean jack **** vs my stash of chocolates and silk undies So yeah, I'm invested heavily in the future
