Episode-1134- Understanding and Investing in Silver
Summary: TweetCustom Medallions a Just One Option for the Silver Investor. I’ll promise right up front that this will not be a TSPMint.com infomercial. In fact I will spend the majority on the show on other types of silver, why silver is a great investment and why many “fears” and “concerns” with buying silver are not worth worrying about. I also want to talk about the real and false reasons behind the recent drop in precious metals pricing. There are two things going on here, prices should be coming down but not as far and not as fast as they are. Just as speculation can drive up a commodity (especially when it is going up some via real market forces) so too can speculation drive a commodity down. Additionally I want to really discuss why I suggest only 5-10% of your wealth in silver and gold and why I don’t recommend platinum and palladium in that number. I will also discuss why I don’t recommend jewels or even really jewelry in that number, though jewelry can be one great way to increase metal holdings. Join Me Today As We Discuss… Why I focus on silver over gold The delta still favors silver Silver has many uses that use it up Silver is the common man’s currency Silver is more widely available and for now incurs less oversight Types of silver and what makes each unique Generic bars and rounds (ounce and fractional) Custom medallions and pieces (ounce and fractional) Collectable silver (numismatic, affinity, etc) Bars (5 ounces and up) American Silver Eagles International Government Issued Silver (Aussie, Canadian, Mexican, etc.) U.S. Pre 65 Silver Coinage (90%) Methods of storing your silver In slab floor safe Fire proof safes Private storage Bank safety deposit box Silver banking (why I don’t like it yet) Paper silver Buried in the ground (don’t do this!) The multi cache method (a little of all) Inventory and audit Don’t think you know, know Don’t think in dollars (it will make you happy and sad about nothing) Do inventory types, not just ounces Do photograph items in type stacks (for insurance) Do update your inventory often Final thoughts If you don’t think you can afford silver right now you can’t Take a balanced approach This is not likely to make you rich, but it might, who knows Selling silver is never as smart as trading it Don’t worry about confiscation, really don’t do it Resources for today’s show… Members Support Brigade Join Our Forum Members Support Brigade 13Skills.com Join Our Forum Walking To Freedom TSP Mint TSP Gear Ready Made Resources – (sponsor of the day) Bulk Ammo – (sponsor of the day) Remember to comment, chime in and tell us your thoughts, this podcast is one man’s opinion, not a lecture or sermon. Also please enter our listener appreciation contest and help spread the word about our show. Also remember you can call in your questions and comments to 866-65-THINK and you might hear yourself on the air.