Precious Metals

[Coleman]

Anyone else watching this market right now? Silver and Gold are on a tear.

I own a little bit of silver and gold, more as a hobby than anything (less than 1% of my net worth), its fun to see this though.

[Hards Alumni]

Anyone else watching this market right now? Silver and Gold are on a tear.

I own a little bit of silver and gold, more as a hobby than anything (less than 1% of my net worth), its fun to see this though.

Do you have it at your house? 

[Coleman]

Do you have it at your house? 

Nice try. Bank deposit box

[Hards Alumni]

Nice try. Bank deposit box

haha, but for real.  Some people say they 'own' gold or silver, and don't have hands on it.

Good to hear you do.

[warriorchick]

I just do whatever William DeVane tells me to do.

[WarriorFan]

I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!

[Hards Alumni]

I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!

Exactly.  I understand it as a hedge against the dollar, but that is for trading only.  Also, if there is a global financial collapse holding a chunk of metal isn't worthless, but it isn't the store of value some folks think it is.  Currency needs to be fungible, divisible, portable, durable, and acceptable.  Gold isn't all of those things.

[Coleman]

I have a friend who proudly told me that in response to the impending certain collapse of the entire global monetary system he had bought several bars of gold.
My response: "cool, where are they?"

The PERTH (Australia) MINT!!!!

WTF good are they for you there if you live in Wisconsin and the global monetary system has collapsed?????

I have never understood why people buy Gold as an investment.  If you have enough money that you need your own personal reserve currency, OK, but as an investment, it doesn't pay dividends, its valuation is largely inverse to the dollar so if you're a dollar earner in a dollar society there are no net gains, and you have to pay to store it!!!

Yeah I am not one of those people who thinks the world monetary system is going to collapse (although I do think we are in for a bit of moderate inflation in the next couple years with all of the liquidity currently being pumped into the economy). I collect shiny because its fun. It is basically a hobby.  My retirement savings are 90% stocks and my reserves are in cash.

I bought most of my silver when it was $14-$18 an ounce. If we hit $30, I will probably cash out. Easy money.

[Jockey]

Yeah I am not one of those people who thinks the world monetary system is going to collapse (although I do think we are in for a bit of moderate inflation in the next couple years with all of the liquidity currently being pumped into the economy). I collect shiny because its fun. It is basically a hobby.  My retirement savings are 90% stocks and my reserves are in cash.

I bought most of my silver when it was $14-$18 an ounce. If we hit $30, I will probably cash out. Easy money.

Common date low grade silver dollars are hard to find for under $32-$34. I've got a ton of them. I bought high grade coins for my collections, but whenever prices were favorable, I'd buy bulk by the roll. 1,000s for as low as $7-$8 dollars a coin.

Like you say, it's getting close to that time. Our economy is in trouble for the long haul, so I think we may have a couple years margin here, but why not take the sure profit over a gamble.

[MU Fan in Connecticut]

My company makes copper wire and raw material dropped quite a bit at the onset of Coronavirus but has skyrocketed the last month.

[NorthernDancerColt]

I just do whatever William DeVane tells me to do.

For a true Thespian advocate for precious metals, look no further than Joe Turkel, who played Lloyd the bartender in the Shining. When Jack tried to pay his bar tab with fiat currency Federal Reserve Notes, Lloyd clearly referenced Silver Certificates while he proclaimed, "your money's no good."