/biz/ - Business & Finance

[Anonymous No.3639845]

Anyone here buy precious metals as a savings account?

For example, I don't see the point in having a savings account (seeing as how I wont earn shit for interest), and I'm very bad with saving money. But I like spending money and buying things. Thus, I decided to spend 20% of my monthly income on silver coins and bars, and throw that in a safe and pretend its my savings account. I figure it'll hold its value better than cash will, and doing some research, I see that the demand for silver projected to rise as industrial demand for raw material increases. Combine that with the supply side of the equation - each year, the world demands more silver, while each year, the world is mining less. As the supply decreases and demand increases, there will be a smaller gold to silver ratio in the market.

Am I being retarded or what? I still have a checkings account and a stock portfolio.

[Sage No.3640034]

>>3639845
I think it's a perfectly good idea, OP. 20% is a reasonable amount, the price is pretty stable, it's a good hedge against economic downturn, and precious metals are the second most liquid commodity after cash so no worries if you need to convert quickly.

[Anonymous No.3640068]

>>3639845
The sage was unintentional, by the way (phone posting, auto filled), have a bump.

[Anonymous No.3640113]

>>3639845
10-20% of your portfolio, at the very least.

[Anonymous No.3640207]

>>3640113
swag

[Anonymous No.3640209]

can i buy anywhere with cash at london spot price? i haven't traded metals in years the price seemed to stagnate

[Anonymous No.3640254]

>>3640209
spot price is the same everywhere I believe.
I haven't been able to find a place that doesn't charge a buck or two over spot. But sometimes you can find deals on secondary market 10oz bars at spot price. I use apmex or ebay

[Anonymous No.3640266]

>>3639845

Silver and gold are necessities for anyone in the age of central banking and fiat currency. They're safe havens, albeit manipulated ones.

[Anonymous No.3640321]

>>3640266
rumors are $50 an oz in 2020

get stackin

[Anonymous No.3640336]

>>3640266
My only concern with holding physical gold and silver is this

cant the government just confiscate it? like they did in 1933

[Anonymous No.3640484]

>>3640321
2020 bitcoin halving lol

[Anonymous No.3640501]

i was going to do this. im absolutely horrible with saving money. but i bought bitcoin instead, learned TA and began trading and have been doing pretty well. BUT it has become like a second job. i think its worth it and i enjoy it. maybe later down the lines ill buy some bullion to sit on but im 23 and am pretty reckless. just sharing my experience.

[Anonymous No.3640615]

>>3640336
well good thing this isnt 1933

[Anonymous No.3640693]

>>3640336

They never went door to door looking for the shit, but it was effectively illegal.

Too bad I don't give a fuck and I have more steel and lead than I do any other metal.

You can get around that, because from what I remember, only "bullion", i.e pure metal, was what it applies to. Old U.S 90% silver coinage and some gold coins would technically be untouchable.

[Anonymous No.3640725]

This is 2017 motherfuckers. Nobody is buying precious gold. This is not the 90's.

Buy crypto now. You owe it to your Grandchildren.

[Anonymous No.3640740]

>>3639845
i have about $5k worth of silver in my safe deposit box

ama

[Anonymous No.3641220]

>>3640725

Crypto is intangible. Great medium of exchange, no intrinsic value. I'm not debating this.

[Anonymous No.3641281]

>>3640740

What measures? Motly government minted, private minted, or both evenly? I have over $2k in metal, most of it in silver, some in scrap jewelry gold and some various gram gold bars.

Biggest piece of silver is 10 troy oz, smallest is some 90% silver quarters, and 40% silver Kennedy half dollars. Generic mints are Sunshine and A-Mark, government coins are Canadian Maples, British Britannias, some Aussie Kangaroos, and U.S Eagles coming in last.

[Anonymous No.3641326]

>>3640615

[Anonymous No.3641335]

there is an abandoned silver mine not too far from me, might steal some silver ore if i am bored one day.

[Anonymous No.3642100]

>>3641281
Its generally advised you dont buy generics for safe haven purposes

Because dealers and buyers will need to check them closer when you want to sell and they will never ever offer a good price.

Stick to gov minted, people trust these more as its a crime against the state to counterfeit this type of bullion.

[Anonymous No.3642341]

>>3639845
not retarded, I do exact same. silver good long term hold as savings

[Anonymous No.3642410]

>>3640254
comparesilverprices.com for the best price

Thank me later

[Anonymous No.3642420]

>>3642100
sunshine mint makes blanks for the US mint so consider them trusted.

They also have a security image on the coins/bars themselves that will eventually be put on silver eagles.

[Anonymous No.3642439]

>>3641335
Steals not a metal, it's an alloy. Retard

[Anonymous No.3642447]

>>3642420
RMC bars are nice if you can look past the shitty press quality...haven't got a single 10 ounce bar without jagged edges.

I guess sunshine mint bars aren't "government issued" but theu might as well be...much nicer wuality and consistency. Plus, 9999 silver is just a gimmick.

[Anonymous No.3642759]

29 ozs of silver, as long as it stays low I'll keep adding to it. Will eventually invest in gold once I get big boy bucks

[Anonymous No.3643084]

Ordered these last night I think it will push me up over 400 oz silver

[Anonymous No.3643464]

>>3643084

Buying decorative silver items isn't really that great of an idea mate - gotta tuck that shit away in the floorboards and shit.

[Anonymous No.3643481]

what coin is this

[Anonymous No.3643482]

>>3643464
I'll be sure and run all my ideas by you to make sure they're good
I wanted it so I fucking bought it

[Anonymous No.3643843]

>>3640615
Solid kek anon and I don't say that often

[Anonymous No.3643887]

>>3643084

>he buys Atlantis Mint edgy faggot shit

[Anonymous No.3643910]

I do too OP. Most silver and a few others with crypto.

[Anonymous No.3644603]

>>3640209
Sadly, buying silver in the UK is a total rip off. You'll end up paying up to twice the spot price. One reason it's so expensive is that the government consider it an industrial material, so add VAT. I'm so envious when I hear of Americans buying up silver at a fraction of the cost. But that's our government, dude; they don’t want the common man owning precious metals, they want us staying in fiat.

[Anonymous No.3644613]

>>3644603
*fraction above spot.

[Anonymous No.3644640]

>>3642439
Ba dum, tsch.

[Anonymous No.3644690]

>>3639845
not only do you not get anything in a savings account you loose money if inflation is higher than your interest rate and remember the only the way to measure inflation is the price of gold