Silver and gold......really a scam?

[Baron Von Murderpaws]

I thought "precious metals" were supposed to go UP in downward shifts of economic times.
At least I've always heard that.

So why is the silver and gold I bought two years ago worthless now?

I bought my boullion coins from a 5 star online precious metals dealer, with the paperwork and reciepts. It's all been sitting in my safe since I bought it.
It's not all that much, but still...............

I've always been told thats why people want to hoard the stuff, because the price "skyrockets" in times of economic downturns.

I've checked the current prices of silver, gold, and copper, and they've continually gone DOWN in price.......from the price I paid when I bought them.

Was I suckered?
Are "precious metals" like diamonds? Worthless?

 

[Winston]

I thought "precious metals" were supposed to go UP in downward shifts of economic times.
At least I've always heard that.

So why is the silver and gold I bought two years ago worthless now?

I bought my boullion coins from a 5 star online precious metals dealer, with the paperwork and reciepts. It's all been sitting in my safe since I bought it.
It's not all that much, but still...............

I've always been told thats why people want to hoard the stuff, because the price "skyrockets" in times of economic downturns.

I've checked the current prices of silver, gold, and copper, and they've continually gone DOWN in price.......from the price I paid when I bought them.

Was I suckered?
Are "precious metals" like diamonds? Worthless?

I understand your frustration, I was taught the same thing. But then I discovered something, during the French Revolution bread was more valuable, by weight, than gold. And here, in North Carolina, during Colonial times they would melt down gold to make bullets, and one 14 pound gold nugget was used as a door stop for years.

Here is the thing, all the gold in the world would fit in a cube that is 23 meters on all sides. Yet that much gold is traded daily on international exchanges. Hoarding gold for a coming apocalypse is a fool's gambit, because if things go really bad, like in France, bread will be worth more than gold. Better to stock up on good whiskey.

 

[Toddsterpatriot]

I thought "precious metals" were supposed to go UP in downward shifts of economic times.

Why would they go up then?

 

[Oddball]

I thought "precious metals" were supposed to go UP in downward shifts of economic times.
At least I've always heard that.

So why is the silver and gold I bought two years ago worthless now?

I bought my boullion coins from a 5 star online precious metals dealer, with the paperwork and reciepts. It's all been sitting in my safe since I bought it.
It's not all that much, but still...............

I've always been told thats why people want to hoard the stuff, because the price "skyrockets" in times of economic downturns.

I've checked the current prices of silver, gold, and copper, and they've continually gone DOWN in price.......from the price I paid when I bought them.

Was I suckered?
Are "precious metals" like diamonds? Worthless?

They're not worthless....Gold is over $1,800 oz and silver is around $21.50.

I scooped up a bunch of silver a few years ago when it bottomed out @ $11.00.

Who are you buying from?

 

[Synthaholic]

Why would they go up then?

This is you admitting the economy is good.

 

[Toddsterpatriot]

This is you admitting the economy is good.

Why do you feel that?

 

[Dont Taz Me Bro]

The price of metals go up and down like any other commodity

 

[KissMy]

I thought "precious metals" were supposed to go UP in downward shifts of economic times.
At least I've always heard that.

So why is the silver and gold I bought two years ago worthless now?

I bought my boullion coins from a 5 star online precious metals dealer, with the paperwork and reciepts. It's all been sitting in my safe since I bought it.
It's not all that much, but still...............

I've always been told thats why people want to hoard the stuff, because the price "skyrockets" in times of economic downturns.

I've checked the current prices of silver, gold, and copper, and they've continually gone DOWN in price.......from the price I paid when I bought them.

Was I suckered?
Are "precious metals" like diamonds? Worthless?

If you bought numismatic coins, then you will likely lose.

However precious metals have been rising at a good clip. 8.3 fold increase over 20 years ain't nothing to sneeze at.

Currently the Fed is tightening monetary policy, raising interest rates, increasing the value of the US dollar while Biden slashes deficits.

Just watch prices explode the next time a republican president is elected so they can loosen monetary policy & increase deficits as the always do.

 

[Toddsterpatriot]

If you bought numismatic coins, then you will likely lose.

However precious metals have been rising at a good clip. 10 fold increase over 20 years ain't nothing to sneeze at.

Currently the Fed is tightening monetary policy, raising interest rates, increasing the value of the US dollar while Biden slashes deficits.

Just watch prices explode the next time a republican president is elected so they can loosen monetary policy & increase deficits as the always do.

10 fold increase over 20 years ain't nothing to sneeze at.

Pulling numbers out of your ass again.

 

[HereWeGoAgain]

The Wife and I considered stockpiling cash and putting it in the gun safe.
Only around 10 or 15 K worth but with the advent of digital money cash will likely be worthless as anything but to wipe your ass with.
Gold on the other hand has a better chance of holding its value but again it's not a sure thing either if the gov tries to make it illegal tender which has happened in the past.
It makes you wonder if ammo and food wouldnt be the better choice.

 

[Oddball]

The Wife and I considered stockpiling cash and putting it in the gun safe.
Only around 10 or 15 K worth but with the advent of digital money cash will likely be worthless as anything but to wipe your ass with.
Gold on the other hand has a better chance of holding its value but again it's not a sure thing either if the gov tries to make it illegal tender which has happened in the past.
It makes you wonder if ammo and food wouldnt be the better choice.

Junk 90% silver coins are best for stockpiling for use in trade....Nobody is going to have change for denominations as small as gold quarter eagles.

 

[HereWeGoAgain]

Junk 90% silver coins are best for stockpiling for use in trade....Nobody is going to have change for denominations as small as gold quarter eagles.

That may be true come to think about it.
But then who knows what gold or silver will be worth if the shit hits the fan?
Common ammo may be the better choice like 9mm or 5.56.
With the coming digital money who knows?

 

[Concerned American]

The Wife and I considered stockpiling cash and putting it in the gun safe.
Only around 10 or 15 K worth but with the advent of digital money cash will likely be worthless as anything but to wipe your ass with.
Gold on the other hand has a better chance of holding its value but again it's not a sure thing either if the gov tries to make it illegal tender which has happened in the past.
It makes you wonder if ammo and food wouldnt be the better choice.

Nothing is sure. I have stockpiled lead and food. They are the only things that will sustain you in apocalyptic times. I am not a doomsdayer, but being prepared will never fail you. Money is only good in civilized times and I fear we may be seeing less than civilized times in this country.

 

[Concerned American]

That may be true come to think about it.
But then who knows what gold or silver will be worth if the shit hits the fan?
Common ammo may be the better choice like 9mm or 5.56.
With the coming digital money who knows?

Digital currency is a bigger fool's errand than precious metals. Digital currency is exactly good for nada.

 

[Oddball]

That may be true come to think about it.
But then who knows what gold or silver will be worth if the shit hits the fan?
Common ammo may be the better choice like 9mm or 5.56.
With the coming digital money who knows?

Coin has survived as tender for centuries.

Using ammo for trade is risky, as those trading with you could use the ammo to shoot you and just take it.

 

[fncceo]

Actually, the largest gold consuming countries in the world are India and China where gold is still the most widely used dowry and wedding gifts and the global price of gold will rise during their wedding seasons.

If, for some reason, Indians and Chinese decided to abandon the custom and gold fell out of favor for gifts and ornaments, the global price of gold would plummet.

People who buy gold as a hedge against inflation make up a small part of the global gold market and don't have much influence on value.

 

[HereWeGoAgain]

Nothing is sure. I have stockpiled lead and food. They are the only things that will sustain you in apocalyptic times. I am not a doomsdayer, but being prepared will never fail you. Money is only good in civilized times and I fear we may be seeing less than civilized times in this country.

Yep...
We have plenty of food,ammo and water.
It'll easily last a couple of years,if it goes beyond that were pretty much fucked.
But then as long as the garden comes up we'll be good for several more years.

 

[HereWeGoAgain]

Digital currency is a bigger fool's errand than precious metals. Digital currency is exactly good for nada.

Yep..
Of course we dont have a say if the gov wants to go digital.

 

[HereWeGoAgain]

Coin has survived as tender for centuries.

Using ammo for trade is risky, as those trading with you could use the ammo to shoot you and just take it.

There is that.
But if you break out the gold as a trading medium the same thing will happen.
But at least you didnt arm the people after your shit.

 

[Oddball]

But if you break out the gold as a trading medium the same thing will happen.

Not if they have no bullets.