As I mentioned in my first post over in the Silver forum, I'm a new investor currently in college with about $1250 invested in silver, totaling just over 42 troy oz and 20.6% of my total worth. I'm considering getting involved with gold as well. At most, I'd be buying 3 1/10 oz rounds over at Monarch Precious Metals, for a total of $441 (plus shipping, etc). On the other hand, I could buy another 15oz of silver, growing my stack considerably. With many decades ahead of me (hopefully), what would be the best place for my money? I'm in this for the long run, feeling that precious metals will serve me better than a 1% interest savings account. I currently have no expenses, but no stable income either. Thanks, Andrew O
Hello Andy, If you aint sure ( no one can be 100% ) than buy 2 * 1/10 oz gold rounds and rest buy silver. Its nice to have some gold too
I know some here will disagree but myself being recently finished uni in the last 2 years, but It is great that you are starting to stack silver now. Absolutely brilliant. But without a stable income I would not be putting too much into Pm's. Yes they may be better than a 1% interest account in the long haul. But the nature of college, if you want/need some funds at a certain time, there is no guarantee that the silver is going to be worth more than you bought it for when you are forced to liquidate. You dont want to be in that position. Particulary with the volatile nature of the Pm's and silver especially. I would still buy the odd piece here and there but I don't think It would be wise to sink large % of your wealth into an asset that is volatile. I think a good alternative is a high interest online account (not pluggin any but I found Usaver to be the best) you can get over 6.5% interest with money on call for college/uni expenses if/when they present themselves. With all that said though to answer your original question, I think it would be good to have a little bit of gold, however with those sizes, premiums will kill you. There is comparitively less premiums for silver of the same $ value. Personally I went too heavy in gold and wished i went for more silver. You can always swap your silver for gold later, (and make a nice gain too if the GSR continues trending down). There are a lot of posts on stack allocation, have a read through them and form your own opinion. In re reading this, it probably hasnt been helpful at all and did squat for answering your question.
If you are paying $441 for 3 * 1/10 oz gold rounds than the premium is minimal. Liquidating either silver or gold will NOT be a problem. They are volatile, + or - , but cash is declining, only - .
Sorry to chop up your post Andrew, but it better serves to lay out your situation. You're not in a great position financially. You're young, in college (University) with no steady income and just a few grand in your pocket. Between your ears! A good education is worth more than gold or silver. It weighs nothing, you can take it everywhere for free, no one can steal it from you and with it you can earn more future gold and silver than you can ever imagine. You're at a perfect place in your life to do extra courses that will pay-off dividends. There's nothing harder than going back to study as a mature ager! But you're also at a vulnerable financial time in your life when sh!t just happens and you need a few grand cash up your sleeve. You are unique in this world, far more rarer than gold and silver, you have a specific talent and destiny to identify and develop and people will give you their gold for that talent. IMO, Now really isn't the time to concentrate on stacking. If you really have to buy something, why not hedge your bets and just use half or a quarter of your savings, and of that put half in silver/half in gold? Study Hard Dude!
Get gold. Even at your stage, the practice of it is good to get into. Also, understand the difference between gold and silver. Gold is wealth. Silver is a speculation. I.E. Gold is something you buy to keep. Silver is something you buy to sell.
Tend to agree with this. With only 20% of your liquid assets in PMs though, I reckon the 1/10oz coins are a good idea - they were my "entry size" into rebuilding my gold portfolio. Very liquid for disposal, particularly via this forum when priced sensibly. But as CH said, don't overcommit to PMs if you're fiscally challenged - a few grand cash on hand is always a good thing.
I have both Gold and Silver and wouldn't be without either. Silver is the speculative play, but Gold is for life.
1/5 of an ounce is very doable, and I can still get my 8oz to bring me to a steady 50oz stack. I think I'll see how this week goes, and probably put an order through at some point. I know there's only so much people can speculate, but is this "the time to buy?" Should I be saving this ~$550 for an unexpected dip? That's really all I have to invest at this point; anything beyond $600 will get into my reserve that I'd rather not touch. So... now or later? EDIT: For what it's worth, I have a coin shop in my hometown that I can visit whenever I get home from college, so a transfer from PM to fiat would be possible (although I'm planning for this to be the tip of the iceberg in a large long-term investment).
Lots of people didn't buy at $26 waiting for a pullback. Then waited at $27. Then waited at $28. If you're in accumulation mode, just buy when you have the cash available.
