being new to it, i am not sure how many highs n lows you have been thru but after years you learn not to panic or get to euphoric on these changes....fundamentally in my mind it is all about how can i safely save and store wealth without counterparty risk and debasing risk without having to "play" the stock market ...... i am very lucky to have a average cost in AG around ~10 a oz and buying a few hundred oz at 50 isnt going to change that .....also after a while and some volume it becomes more about storage and oz not the coins themselves ........ the main thing for me was i developed a fundamental understanding that dollars only have value as trade units not as value storage units precious metals are one storage unit i use along with things like tools...land...food.............sometimes it helps to look at pms in the same way you look at stored food once you have the food it really doesnt matter if the supermarket prices fluxuate you still have food units that are useable ......
it is very smart to buy the most desirable type of silver storage unit you can for your $ as long as you understand that the intrinsic value is in the metal and not the artwork on it
i know i am preaching to the choir .....just got to typing n didnt stop LOL
Yes sound wisdom and advice. The fact I know all this doesn't mean I dont appreciate you saying it. My one weakness is I find silver such a beautiful metal but yes I do temper it with reality. In essence its there to preserve wealth, even my few artistic shekels I keep on my mantle, even they are there to preserve wealth.
Yesterday I visited a Local coin shop whose owner knows how I roll. He pulled out a 10 oz Kookaburra round, which I dare anyone to find anywhere. A 2016 in perfect condition that never left its capsule. Along with it 8 pristine 2021 Krugerrand's. Both items at a very good price with no wait or shipping cost so theres 18 oz added with a smile. This morning I see silver is back up to the mid-40's. I didn't see as low a floor as others did as economic/industrial conditions just dont support a $40 floor.
I believe anyway. And next will be the rocket to the moon. Anyhoo as they are lowering me to the ground, or spreading my ashes, my kid will be dreaming of the corvette he always wanted and since I'll be dead then who cares ? Pity about the $USD I always loved and slaved for most of my life but its the way Empires go, always have, always will. They over-spend and inflate. Over print and over mint until it just can't be sustained.
It wasn't the Germans who destroyed Rome ; It was the silver denarius losing value until it became ass wipe due over minting and reckless spending and along with it the sestertius and asses. The only coin that mattered was the gold aureus but they had to try and hold on to that, or watch it being hoarded, and while gold remained gold there wasn't enough to save the lunatic spending by the Loonie Emperors and Rome eventually crumbled under the economic weight of its own making.
Name an Empire and I'll show you the same. The Greeks and their drachmas the same thing. Egypt ? Same , same. Spain, Britain...ect they all followed the same crumbling model. The enemy from within. And now we have America and the world it will drag down with it because its the most powerful world power ever. Economically most of all. It amazes me that nobody learns this lesson. These forever war's are killing us.
Spain fell due to the "price revolution". Even with all its stolen wealth it couldn't survive the mismanagement of it economy. It grew fat, lazy, and dependent on others for everything since it refused to invest in its own Industry. It spent fortunes on foreign wars, as bad an investment as you could think of. Like Rome did The government’s inability to efficiently manage its resources eventually weakened its military capacity and left it exposed to foreign competition and internal instability. England much the same, tho the English found cute ways to get around it they still had to defend an Empire that spanned 1/4 the world. The East India Company was one such way as was the largely unchecked slave trade, both transatlantic and sub continental. But even that dried up because slaves reproduce on their own while stealing them for sale became less lucrative so since it didn't really cost them anything they found God and freed the slaves in what little was left of their American colonies.
But the newly freed slaves still had to give two years of servitude before going back to work at slave wages on the sugar plantations while the Crown had to reimburse the slave owners for the value of the slaves. A move that further weakened the economy, caused inflation from over-printing, and helped cost them the remnants of their North American colonies.
Anyway you see my point. Were going down the same spiral and like you the only protection I see for the individual is the hoarding of precious metal.