Opinions on Investing in Gold and Silver

[fearlesscat10]

I'm planning to expand my horizons from bitcoin to precious metals. I'm still holding btc, but I'd like to spread my investments.

Opinions? I'm also based in the Philippines and from what I've heard, gold and silver trading isn't really common here.

I'd also like to hear experiences from people who've already tried investing in gold/silver.

[Decksperiment]

At least you wont lose your gold to scammers if you stash it in a box somewhere..

[collins6542]

I'm planning to expand my horizons from bitcoin to precious metals. I'm still holding btc, but I'd like to spread my investments.

Opinions? I'm also based in the Philippines and from what I've heard, gold and silver trading isn't really common here.

I'd also like to hear experiences from people who've already tried investing in gold/silver.

I would definitely invest in precious metal. Precious metal investing is how I got started in investing. I am now a novice dabbler in Bitcoin. I have invested heavily in Silver over the past year due to its low price. AG is at some of its lowest in the past 5 years. hovering anywhere between 14.40 and 16.50 USD per .999 Pure OZ of AG. (Spot value is not included on this)

With Spot, it is like a transaction fee based off of the brand or type of silver you are buying... If you were buying JM Bullion, you would expect to pay anywhere from 2 - 5 USD over spot, whereas buying Sunshine Mint, you arent paying as much. Personally, a majority of my collection is JM Bullion due to each bullion bar 1 OZ or greater is stamped with its own personal ID Code.

[Wardrick]

Don't invest in gold unless you have a lot of money. It's not worth it. If you're looking to invest in a precious metal I'd recommend silver.

[fearlesscat10]

At least you wont lose your gold to scammers if you stash it in a box somewhere..

You wouldn't lose bitcoin to scammers either if you just kept it inside a paper wallet or cold storage.

I would definitely invest in precious metal. Precious metal investing is how I got started in investing. I am now a novice dabbler in Bitcoin. I have invested heavily in Silver over the past year due to its low price. AG is at some of its lowest in the past 5 years. hovering anywhere between 14.40 and 16.50 USD per .999 Pure OZ of AG. (Spot value is not included on this)

With Spot, it is like a transaction fee based off of the brand or type of silver you are buying... If you were buying JM Bullion, you would expect to pay anywhere from 2 - 5 USD over spot, whereas buying Sunshine Mint, you arent paying as much. Personally, a majority of my collection is JM Bullion due to each bullion bar 1 OZ or greater is stamped with its own personal ID Code.

I see. Have you profited from silver yet? If so, how much?

Don't invest in gold unless you have a lot of money. It's not worth it. If you're looking to invest in a precious metal I'd recommend silver.

Yes, I see your point. One OZ of gold already hurts my pockets.

[WEB slicer]

it's a long term investment for people who have enough money to wait 10+ years for a decent return.

[fearlesscat10]

it's a long term investment for people who have enough money to wait 10+ years for a decent return.

So for example, I'll only really profit from it once I retire?

[chmod755]

Don't invest in gold unless you have a lot of money. It's not worth it. If you're looking to invest in a precious metal I'd recommend silver.

Start with silver. There's a nice silver community on reddit.

it's a long term investment for people who have enough money to wait 10+ years for a decent return.

Agreed, it's a definitely long-term thing.

Keep in mind that there are different types of coins: bullion (typically 90%+ pure gold/silver), collector coins (there's only a limited amount of this coin) and junk (e.g. old U.S. coins with some silver in it).

[collins6542]

At least you wont lose your gold to scammers if you stash it in a box somewhere..

You wouldn't lose bitcoin to scammers either if you just kept it inside a paper wallet or cold storage.

I would definitely invest in precious metal. Precious metal investing is how I got started in investing. I am now a novice dabbler in Bitcoin. I have invested heavily in Silver over the past year due to its low price. AG is at some of its lowest in the past 5 years. hovering anywhere between 14.40 and 16.50 USD per .999 Pure OZ of AG. (Spot value is not included on this)

With Spot, it is like a transaction fee based off of the brand or type of silver you are buying... If you were buying JM Bullion, you would expect to pay anywhere from 2 - 5 USD over spot, whereas buying Sunshine Mint, you arent paying as much. Personally, a majority of my collection is JM Bullion due to each bullion bar 1 OZ or greater is stamped with its own personal ID Code.

I see. Have you profited from silver yet? If so, how much?

Don't invest in gold unless you have a lot of money. It's not worth it. If you're looking to invest in a precious metal I'd recommend silver.

Yes, I see your point. One OZ of gold already hurts my pockets.

I have not made much of a difference. For me it is more about backing your paper wealth with a precious metal wealth.. If I invest in Silver, and the US Economy goes to heck... then I would still recoop my financial wealth with the silver I own by using it since it still has retained its global value.

[nsimmons]

I made a killing buying physical from 2010-2013, I unloaded my silver around 40, weeks before the April collapse.
With the rally in the USD, my the gold has held its value or appreciated compared to my local currency CAD. I bought some at 1100 CAD, when the exchange rate was nearly par, and my last oz at 1600 CND.

The slippage is less the more gold you buy.
It costs me 10% to get in and out of silver. ~3% for an oz of gold, less for a kilo.

How has your local currency done against the USD? If its falling consistently, you could protect some wealth.

I only buy government minted bullion. Americans like junk silver, but for me gold maples are the cheapest.

[chmod755]

I only buy government minted bullion. Americans like junk silver, but for me gold maples are the cheapest.

I'm not Canadian, but I own some maples too. Here in Austria many banks are selling gold coins and small gold bars (I don't know if you could sell to them tho)

It costs me 10% to get in and out of silver. ~3% for an oz of gold, less for a kilo.

In many countries gold is tax-free, but silver isn't.

[matrix zion]

I'm planning to expand my horizons from bitcoin to precious metals. I'm still holding btc, but I'd like to spread my investments.

Opinions? I'm also based in the Philippines and from what I've heard, gold and silver trading isn't really common here.

I'd also like to hear experiences from people who've already tried investing in gold/silver.

both bitcoin and gold might be a good to hold.

[Darude Sandstorm]

I was a big fan of gold before I discovered bitcoin. I think there's more potential for profit in the short term and it's far better as a currency. Gold may have more value as a long term investment though as bitcoin may come and go as fast as it arrived but gold will always be around and have intrinsic worth.

At least you wont lose your gold to scammers if you stash it in a box somewhere..

Not really. If your house gets burgled and it's discovered you'll never see it again just like bitcoins. At least with bitcoins you can see where your coins went on the blockchain.

[stevegreer]

There is only one option with precious metals. Buy physical. If you don't hold it, you don't own it. In other words, stay away from buying paper gold and silver on the commodities market. I don't mean to sound paranoid, but if the global economy was to ever collapse, those paper certificates will be worthless.

I'm not sure how many coin shops you have there in the Philippines, but from what you wrote, it doesn't seem like there are many. That's usually the best place to buy because, at least here in the States, you won't have to pay tax on your purchase. Plus, you won't have to pay shipping if you buy local.

With that said, it is all personal preference from there. Buying so-called "junk" silver, pre-1965 U.S. dimes, quarters, half dollars and silver dollars, which are 90% silver, is a good place to start. Sometimes the silver dollars can carry a premium though, especially if they are in really good condition. So I would recommend starting with dimes and quarters first. Other people stick to the bullion, the 99.9% pure rounds and bars. I prefer bars as they usually carry a smaller premium than the rounds do. Then there are the government issued coins such as the American Eagle and Canadian Maples. These can carry pretty hefty premiums, but can also command a hefty price over spot when you resale them.

Of course, the last tidbit of advice is to only buy from reputable places. Avoid eBay as you can't be sure what you are buying is real. Many people have gotten burned from buying fake gold and silver. I hate to say it, but the Chinese are notorious for selling fakes on eBay.