How do you choose between silver or gold?

barsenault

barsenault

Well-Known Member
I've been primarily a silver bug. I have very, very little invested in gold. However I debating with myself on changing that philosophy for a couple reasons. A) you don't need a lot of room to store gold, and b) seems to be the go to metal among smart money. What I don't like is knowing I can buy 60'ish silver coins for the price of one gold coin. It appears as though 60 coins will perform better than gold over the long-term...percentage wise. But, what happens if the industrial side of silver slows down for whatever reason (economics, new discoveries to displace expensive silver, etc...). It doesn't seem like silver is viewed as money as much as gold is. How do you decide between buying silver or gold, or do you buy both? I'm watching gold rush, and to see the labor and energy it takes to dig up gold is quite astounding.
 
Have a bit of both?

Though I have only made profits on silver so far. Gold not so much.
 
Gold is money to the rich. Silver is a crapshoot, despite what MM and others say. It has been too long since silver was money and the industrial uses preclude silver being money again.
 
Thanks for the responses, it helps a lot And dccpa, I'm beginning to lean more and more in your line of thought based on all that I read and listen to. I won't sell my silver, but I'm putting my purchases on hold, God knows I have enough! Thanks everyone.
 
Argentum said:
look at gsr then decide
Click to expand...

This is what I follow. Over 55, buy silver, under 55, buy gold, roughly to that effect. Your personal trigger point may be miles from mine.
 
Or if you believe the hype of guys taking their book like this fella, well...LMAO.

sgtreport.com/2013/11/1000-for-one-ounce-of-silver-dont-laugh-andy-hoffman/
 
Happy to say, I just ordered my first ever buffaloe 1 oz gold coin. The beginning of my gold stack. Yippee. Now I have to pray that provident sells authentic gold coins. :-)
 
use your left hand or right hand between silver and gold :)

swap and on and on, to increase your ounces in both. continue to lock in.
 
For some of us, it's not so much whether we buy lots and lots of ounces of silver or less ounces of gold, it's more like I don't have enough money at this time to buy any meaningful amount of gold....and I will not buy a 1 or 5 gram (Pamp Suisse or any other brand) gold bar....the premiums on such products are outrageously high.

So, I stick with buying small amounts of silver coins every once in a while when I can get a good price. Eventually, I will have enough bullion/coins to trade up from a small safety deposit box to a medium size....all in good time....I'm not in a hurry....silver prices aren't going anywhere too far from where they are now any time soon. If you get too anxious, you make mistakes.

That said, I do believe that silver can be replaced today and more so in upcoming years industrially in some applications. But, that replacement will happen only if industry can implement the manufacturing of the new replacement material at a lower cost than to stay with the use of silver. If silver price drops, manufacturers will probably have little incentive if the cost savings isn't significant to switch materials. If silver climbs high, manufacturers that use silver will do everything in their power to produce cheaper which means potentially replacing silver with some other material.

In terms of backing a currency...I am not smart enough to know if silver will be such a metal; gold more likely.

I do know that of the few people I know personally who are buying metals, all favor silver and one is a millionaire.
I think the common belief among those people is that pm's will climb significantly higher in value at some point and that silver will be better to own in such a time because the relative value of goods compared to metals will be such that an ounce of gold for example will be too great for everyday needs.

And finally, here in the US, there have been record sales of silver bullion and collector coins from the US Mint while gold products have done no better than average I believe. So, lots of people are really into silver more than gold perhaps....and probably will be for quite some time.


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if you "feel" you need to buy gold, you should start acummulating it until you "feel" lkke you have enough.

Thats how I do it anyway.
 
Clawhammer said:
if you "feel" you need to buy gold, you should start acummulating it until you "feel" lkke you have enough.

Thats how I do it anyway.
Click to expand...

u cannot have enough gold ;)
 
mmissinglink said:
For some of us, it's not so much whether we buy lots and lots of ounces of silver or less ounces of gold, it's more like I don't have enough money at this time to buy any meaningful amount of gold....and I will not buy a 1 or 5 gram (Pamp Suisse or any other brand) gold bar....the premiums on such products are outrageously high.

So, I stick with buying small amounts of silver coins every once in a while when I can get a good price. Eventually, I will have enough bullion/coins to trade up from a small safety deposit box to a medium size....all in good time....I'm not in a hurry....silver prices aren't going anywhere too far from where they are now any time soon. If you get too anxious, you make mistakes.

That said, I do believe that silver can be replaced today and more so in upcoming years industrially in some applications. But, that replacement will happen only if industry can implement the manufacturing of the new replacement material at a lower cost than to stay with the use of silver. If silver price drops, manufacturers will probably have little incentive if the cost savings isn't significant to switch materials. If silver climbs high, manufacturers that use silver will do everything in their power to produce cheaper which means potentially replacing silver with some other material.

In terms of backing a currency...I am not smart enough to know if silver will be such a metal; gold more likely.

I do know that of the few people I know personally who are buying metals, all favor silver and one is a millionaire.
I think the common belief among those people is that pm's will climb significantly higher in value at some point and that silver will be better to own in such a time because the relative value of goods compared to metals will be such that an ounce of gold for example will be too great for everyday needs.

And finally, here in the US, there have been record sales of silver bullion and collector coins from the US Mint while gold products have done no better than average I believe. So, lots of people are really into silver more than gold perhaps....and probably will be for quite some time.


.
Click to expand...

Great insight. Thanks for sharing. And I agree. One of the main reasons I went from silver to gold is my silver stack is getting a bit too heavy. If I had to bug out with my family for whatever reason (hurricane, collapse, etc...) i have quite a bit of weight in silver. It would be nice to take several ounces of gold, and know I have the equivalent in silver. Another reason is gold will be my spending money in retirement. I'm only buying bullion, so I'm not so attached to the stuff like I am my semi-numismatic (kooks, pandas, gilded, colored, and britannias) and numi coins. So, with all that being said, it's not easy for me to pass up 60 kooks for the price of 1 dang ounce of gold, but a man's gotta do what a man's gotta do!! :-). Really appreciate everyone sharing their thoughts. I think if silver were to get to a 100 an ounce, industry will def do everything in their power to come up with a replacement wherever possible, leaving more supply, driving down prices. I'm just not a believer in this 'silver is almost gone.'
 
JoeFromNorthCarolina said:
You buy gold for numismatic... numismatic/bullion
you buy silver for numismatic / bullion
Click to expand...

Would you mind elaborating a bit regarding this comment. Not sure I follow.
 
barsenault said:
Great insight. Thanks for sharing. And I agree. One of the main reasons I went from silver to gold is my silver stack is getting a bit too heavy. If I had to bug out with my family for whatever reason (hurricane, collapse, etc...) i have quite a bit of weight in silver. It would be nice to take several ounces of gold, and know I have the equivalent in silver. Another reason is gold will be my spending money in retirement. I'm only buying bullion, so I'm not so attached to the stuff like I am my semi-numismatic (kooks, pandas, gilded, colored, and britannias) and numi coins. So, with all that being said, it's not easy for me to pass up 60 kooks for the price of 1 dang ounce of gold, but a man's gotta do what a man's gotta do!! :-). Really appreciate everyone sharing their thoughts. I think if silver were to get to a 100 an ounce, industry will def do everything in their power to come up with a replacement wherever possible, leaving more supply, driving down prices. I'm just not a believer in this 'silver is almost gone.'
Click to expand...

Replying to you and ML both:

ML my clients have been mixed re silver and gold. The early buyers were mostly silver, but then I was buying mostly silver too. The early buyers included millionaires. Around March, 2011 when silver got to $35, I decided gold would be the better way to go for future buying. And for myself and friends/clients, most of the purchases since that date have been gold. But the clients who were not interested in buying pms in the early years are now buying and they are buying almost exclusively gold. How much of that choice is due to my preference for gold, I don't know. But the clients who are worth 8 figures are only buying gold.

It would not be easy to substitute other metals for silver in industrial applications. The amount of silver used per product is not significant, so those products are not that sensitive to the price of silver. Even if they could substitute other metals, there are more patent applications for silver than any other metal. And the medical uses for silver are growing daily. Consider that film used to be at least half of the usage of silver and now it is a small portiion. Yet, even with the decline in film usage, the amount of ounces used in industrial applications has grown. Silver has too many current and future industrial and medical uses to be allowed to be money again.

At least in the US, the young people are more interested in digital money via debit cards, phones, etc. They don't have much interest in paper money and none in precious metals.

Not related to this thread, but I need to get to work and don't want to search for the appropriate thread. I read last night that the surge in bitcoin pricing is due to the fact that the Chinese are now 62% of the bitcoin market. Should the Chinese government get involved, bitcoin could be due for a severe price correction. Then again, maybe the Chinese government is behind the surge in Chinese buying as a way to avoid the USD.
 
dccpa said:
barsenault said:
Great insight. Thanks for sharing. And I agree. One of the main reasons I went from silver to gold is my silver stack is getting a bit too heavy. If I had to bug out with my family for whatever reason (hurricane, collapse, etc...) i have quite a bit of weight in silver. It would be nice to take several ounces of gold, and know I have the equivalent in silver. Another reason is gold will be my spending money in retirement. I'm only buying bullion, so I'm not so attached to the stuff like I am my semi-numismatic (kooks, pandas, gilded, colored, and britannias) and numi coins. So, with all that being said, it's not easy for me to pass up 60 kooks for the price of 1 dang ounce of gold, but a man's gotta do what a man's gotta do!! :-). Really appreciate everyone sharing their thoughts. I think if silver were to get to a 100 an ounce, industry will def do everything in their power to come up with a replacement wherever possible, leaving more supply, driving down prices. I'm just not a believer in this 'silver is almost gone.'
Click to expand...

Replying to you and ML both:

ML my clients have been mixed re silver and gold. The early buyers were mostly silver, but then I was buying mostly silver too. The early buyers included millionaires. Around March, 2011 when silver got to $35, I decided gold would be the better way to go for future buying. And for myself and friends/clients, most of the purchases since that date have been gold. But the clients who were not interested in buying pms in the early years are now buying and they are buying almost exclusively gold. How much of that choice is due to my preference for gold, I don't know. But the clients who are worth 8 figures are only buying gold.

It would not be easy to substitute other metals for silver in industrial applications. The amount of silver used per product is not significant, so those products are not that sensitive to the price of silver. Even if they could substitute other metals, there are more patent applications for silver than any other metal. And the medical uses for silver are growing daily. Consider that film used to be at least half of the usage of silver and now it is a small portiion. Yet, even with the decline in film usage, the amount of ounces used in industrial applications has grown. Silver has too many current and future industrial and medical uses to be allowed to be money again.

At least in the US, the young people are more interested in digital money via debit cards, phones, etc. They don't have much interest in paper money and none in precious metals.

Not related to this thread, but I need to get to work and don't want to search for the appropriate thread. I read last night that the surge in bitcoin pricing is due to the fact that the Chinese are now 62% of the bitcoin market. Should the Chinese government get involved, bitcoin could be due for a severe price correction. Then again, maybe the Chinese government is behind the surge in Chinese buying as a way to avoid the USD.
Click to expand...

Thanks dcc. Just more confirmation that I'm sticking with buying gold from here on in. Until I feel I have enough of a stack (roughly 60 oz of bullion) to make me happy, I won't be returning to my love of silver. My personal taste is for silver. I think they are a prettier coin...minus milk spots. However, I need to diversify, and be smart, so I put my emotions on hold, and will start to suck up gold. I watched another episode of Gold Rush' yesterday. Amazed at what people will do for the yellow stuff. I hope it goes down to 1,000 and stays there for sometime to come. I don't mind at all if Jim Rogers is right. I hope to God he is!!
 
I agree to a large extent with dcc and barn.

If I had money to spend and not worry about (I have been unemployed for 3 years due to a work related injury and the measly monthly check from the insurance company barely gives me enough to pay for a pair of baseball game tickets once in a blue moon) I would be buying gold. The simple fact is I just simply can not afford it....I somehow manage to save a little amount each month and look to see if there are any good deals in a couple or so silver rounds or coins. Some time down the road, when I have a steady stream of meaningful income, I may be able to put away a tiny bit of gold in my SDB. But right now, the contents is rather a bit sparse with only monocoloring (silver).


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