Which one is the best investment?

[littlemissmartypants]

Gold or silver?

How should I go about buying either? Or should I avoid both?

What advice do you have from personal experience on buying precious metals?

I'm trying to find ways to protect and hopefully grow my inheritance. With the state of our country looking precarious at the moment I'm trying to conservatively think outside of the box.

I appreciate any suggestions. Thank you.

❤️pants

[elleng]

1. Why buy such?

What would one do with such?

INVEST in decent Funds, which can be easily bought and sold, like INDEX funds (imo.)

[keithbvadu2]

2. Study pricing and go to a known coin/gold/silver shop. Absolutely avoid the tv ads.

They promote gold bullion and steer you to vastly overpriced 'collectible' coins.

Google for 'gold scams'.

[no_hypocrisy]

3. Buy gold from a reputable dealer.

Not all gold coins are alike.

For example, the South Afrikan Krugerrand is not as valuable as a Canadian Maple Leaf.

And appreciate the price you pay today may be a lesser value after you buy it; it's a commodity.

[littlemissmartypants]

12. I already have a 1923 silver dollar...

That my grandmother gave me when I was nine. That was a while ago, and I have been saving it, but mostly because she gave it to me. I've never really thought about the value other than that.

Thanks for your reply, no_hypocrisy.

❤️

[claudette]

4. A long time ago

I bought a whole lot of 99% pure silver dollars to leave to my estate - figuring even if silver crashed, they'd still be worth $1.00 each! LOL

Well, the value of those coins has more than doubled in all those years. However, make sure that those you are leaving them to don't mind going through the hassle of selling them for real cash. THAT could get tricky unless you know and trust the buyer will be honest and give you all that they are worth. I stopped buying them two years ago.

Added: Now I invest all my money in an IRA and Treasury Bonds.

[littlemissmartypants]

19. Interesting. Thanks. ❤️

[surfered]

5. Maintain a balanced portfolio. Gold could be a part of that.

[Jim__]

6. Can anyone you know recommend a financial adviser?

Investing in expert advice, an expert you know is reliable, is probably worthwhile.

[littlemissmartypants]

13. I have one. Thanks, Jim__. ❤️

[Fiendish Thingy]

7. Neither

If you’re trying to protect and grow your inheritance, the only thing worse than precious metals is crypto.

If you have a substantial sum (high five figures or more) you’d be better off finding a trustworthy fee-for-service advisor working as a legally designated fiduciary. Invest in a diverse, balanced portfolio at a risk level that suits your age and tolerance.

If the market collapses to the point where your funds aren’t safe in a balanced portfolio, gold or silver won’t protect your funds either.

[littlemissmartypants]

14. Got one, thanks. ❤️

[Firestorm49]

8. Stay the hell out of metals.

Unless you have a crystal ball better than everybody else’s, it’s a tough nut to crack. Gains are generally short term and unpredictable. Stick with stocks, bonds, mutual funds- something with a better track record than metals.

[littlemissmartypants]

15. Thanks, Firestorm49. I appreciate your candidly direct reply. ❤️

[bucolic_frolic]

9. The question is really about hedging the US Dollar

and thus is a query about allocation: what asset class will grow?

Owning physical assets is a pain to store and protect. Supposedly there are a handful of ETF funds that guarantee they hold the actual precious metal. One's in Australia as I recall.

Hi quality dividend paying stocks have merit. There are blue chip or large cap dividend growth ETFs.

Can't avoid mentioning AI. These companies are where Microsoft and Apple were in 1990, and Amazon was in 2005. There are plays on chips and memory which is to say hardware, software companies that leverage AI.

I'm not throwing this out there as an idea, just to illustrate missed opportunity. Nov 2 2022, Facebook (META) traded at $86.50. In 15 months it was $500.00, now it's over $600. Or take a look at the 10 year chart on LLY.

[littlemissmartypants]

10. Just looking at the LLY five got my attention. ...

Thanks for your reply, bucolic_frolic. I guess that I'll restrict my precious metals buying to jewelry.

Which I already have more than I know what to do with anyway.

❤️

[bucolic_frolic]

16. You know more than your think

and wise to consult all the DU armchair experts!

[littlemissmartypants]

18. Thanks. I learned long ago...

About the deep intrinsic value of the DU Braintrust.

❤️

[usonian]

11. Real Estate. (No, I didn't go to Trump University)

How else can you make $250,000 and pay no taxes.

Incorporate and get billionaire advantages?

[littlemissmartypants]

17. Got some of that. ...

Looking at establishing an LLC for the farm and branching out. Still thinking. I've never been anyone that makes moves in a hurry.

Not without justification, I am concerned about what President Psychopath and his merry band of thieves have planned for the FDIC and the Treasury.

So many seem to believe that the status quo is just going to keep puttering along. I'm not sure about that and I'm usually one of the two or three optimists there might in the room these days.

Thanks for your reply, usonian.

❤️

[usonian]

20. That was my 14,666th post. LOL

must be my "lucky" day.

I feel like the athlete who was so proud of his gold medal that he HAD IT BRONZED!

Cheers, best of luck and fortune going forward.

While others go backward.

[nmmi]

21. If you must ... Bob Carlson of Retirement Watch newsletter has some IAU - iShares Gold Trust ETF, "which is often

the lowest cost most liquid way to own gold".

He's also the author of some retirement finance books.

I don't have any gold or other precious metals and have not since a short time in the early '80s.

[A HERETIC I AM]

22. Gold and Silver and other precious metals are not "investments" per se, they are commodities.

Would you also consider taking a position in Corn? Or crude oil? Or pork bellies?

The best way to think about gold is as a way to preserve wealth, not to necessarily grow it. You mention you want to protect your inheritance, but speculating on commodities is a game best left to professionals. Does physical gold have a position in a well diversified portfolio? Yes, absolutely. But exactly how much of that portfolio depends on how much risk you are willing to take.

A good analogy I heard once;

In the 1880's a twenty dollar gold coin would buy you a finely tailored suit.

That exact same coin today would buy you a finely tailored suit.

Along the way it has gone up and down in value relative to that suit, but the point remains.

[bif]

23. IMHO, your safest bet right now is probably Money Market Funds

That said, almost all my money is still in Mutual Funds and stock.