Precious Metals of Gold and Silver Pricing

The #1 community for Gun Owners in Indiana

Member Benefits:

  • Fewer Ads!
  • Discuss all aspects of firearm ownership
  • Discuss anti-gun legislation
  • Buy, sell, and trade in the classified section
  • Chat with Local gun shops, ranges, trainers & other businesses
  • Discover free outdoor shooting areas
  • View up to date on firearm-related events
  • Share photos & video with other members
  • ...and so much more!
  • teddy12b

    Grandmaster
    Trainer Supporter
    Rating - 100%
    40   0   0
    Nov 25, 2008
    7,661
    113
    I'll be the first to admit that beans, bullets and bandaids should be first on the list, but I also think precious metals of gold and silver have their place. I was talking with an in law yesterday who has to track the price of these materials for work as silver especially is one of the materials they buy and use. I asked him where he thought it was heading and it's all a crystal ball and best guess, but from what he indicated it seemed like now would be an outstanding time to buy.

    Where do you purchase yours?

    Who here tracks the gold & silver market?

    What sources do you follow?

    With the "coin shortage" do you think that's a validating reason to invest in some precious metals?
     
    Last edited:

    KittySlayer

    Grandmaster
    Rating - 100%
    4   0   0
    Jan 29, 2013
    6,473
    77
    Northeast IN
    ...he indicated it seemed like now would be an outstanding time to buy...

    Well it all depends on what your goal is.
    1. Making a profit?
    2. Diversifying your investment portfolio?
    3. Portable wealth for TEOTWAWKI?


    I have always struggled with the concept of making a profit(#1). As that graph keeps going up and I see my profit margin increase I also become more concerned we are getting to TEOTWAWKI(#3). So the best time to sell is as when the price keeps getting higher and higher. Trouble is that is those dramatic price increases are often times triggered by emotional fears of economic collapse.

    Glad I bought another stack for #2 and #3 this spring. Reluctant to sell for #1 anytime soon.
     

    teddy12b

    Grandmaster
    Trainer Supporter
    Rating - 100%
    40   0   0
    Nov 25, 2008
    7,661
    113
    Well it all depends on what your goal is.
    1. Making a profit?
    2. Diversifying your investment portfolio?
    3. Portable wealth for TEOTWAWKI?


    I have always struggled with the concept of making a profit(#1). As that graph keeps going up and I see my profit margin increase I also become more concerned we are getting to TEOTWAWKI(#3). So the best time to sell is as when the price keeps getting higher and higher. Trouble is that is those dramatic price increases are often times triggered by emotional fears of economic collapse.

    Glad I bought another stack for #2 and #3 this spring. Reluctant to sell for #1 anytime soon.


    My goals would be very much aligned.
    1. Make a profit? Not really, just trying to treat it like ammo and buy some while it's available and plentiful. Much like ammo I have some, but would like more.
    2. Diversify the portfolio? Not really my intent with this, but at the same time it's never a bad idea.
    3. TEOTWAWKI? Nothing built by man, ever lasts forever and some day this land will have a new flag and currency. If that happens in my lifetime then it wouldn't be a bad idea to have some precious metals that have always had varying degrees of value throughout the history of man.
     

    shibumiseeker

    Grandmaster
    Rating - 100%
    49   0   0
    Nov 11, 2009
    10,708
    113
    near Bedford on a whole lot of land.
    2 is my primary reason
    3 is secondary, and
    1 is a bonus if it happens

    Right now I'm selling some (but not all) of my silver because I can make a little profit, and that profit is being turned right back into buying more infrastructure for the Ranch, specifically more solar panels. It's probable that silver and gold will go even higher in the coming months and I might lose out on more potential profit, but regardless the solar panels I buy will have stable value and I can always use more and electricity is far more valuable than most people realize.
     

    spencer rifle

    Grandmaster
    Rating - 100%
    66   0   0
    Apr 15, 2011
    6,544
    149
    Scrounging brass
    Where do you purchase yours?

    Who here tracks the gold & silver market?

    What sources do you follow?

    With the "coin shortage" do you think that's a validating reason to invest in some precious metals?

    Usually locally - A to Z or Farifields - for "junk" silver. It's a known quantity and legal tender. It helps to be able to look them over first - some are very worn and therefore light. Quarters and half dollars preferred. For gold, Mexican pesos are usually a good deal, but not widely recognized and not in even fractional ounce sizes. Krugerrands are good but now very expensive. Provident is one possibility.

    I only follow APMEX or the dealer spot prices when I have resources to spend.
     

    snorko

    Grandmaster
    Site Supporter
    Rating - 100%
    361   0   0
    Apr 3, 2008
    8,294
    113
    Evansville, IN
    2 is my primary reason
    3 is secondary, and
    1 is a bonus if it happens

    Right now I'm selling some (but not all) of my silver because I can make a little profit, and that profit is being turned right back into buying more infrastructure for the Ranch, specifically more solar panels. It's probable that silver and gold will go even higher in the coming months and I might lose out on more potential profit, but regardless the solar panels I buy will have stable value and I can always use more and electricity is far more valuable than most people realize.


    I agree with the above for the most part. There is something very satisfying in owning a reasonably liquid asset that feels real. For a while whenever I would sell a gun and had no firm plans for the funds, I would use half to buy some silver. It all started with inheriting a couple mayonaise jars of junk silver from my grandparents. They were preppers before prepping was a thing.

    Most of my purchases have been online with 90% from Provident Metals. Bought some locally and off Ingo when the price was right. Provident is also a reasonable source to sell to. I was going to sell an amount soon if spot tops $30 and was checking the buy back prices at Provident. Most of the better-than-generic bars & rounds were will above spot for buyback.
     

    shibumiseeker

    Grandmaster
    Rating - 100%
    49   0   0
    Nov 11, 2009
    10,708
    113
    near Bedford on a whole lot of land.
    I agree with the above for the most part. There is something very satisfying in owning a reasonably liquid asset that feels real. For a while whenever I would sell a gun and had no firm plans for the funds, I would use half to buy some silver. It all started with inheriting a couple mayonaise jars of junk silver from my grandparents. They were preppers before prepping was a thing.

    Most of my purchases have been online with 90% from Provident Metals. Bought some locally and off Ingo when the price was right. Provident is also a reasonable source to sell to. I was going to sell an amount soon if spot tops $30 and was checking the buy back prices at Provident. Most of the better-than-generic bars & rounds were will above spot for buyback.

    $40/oz is my "sell all I have" price right now and will probably do a sell-back at Provident in that case just based on the volume as not many INGOers or local businesses have the resources for that volume. This is assuming we don't have runaway inflation in the next few months which is doubtful. I'm not sure $40/oz is in the cards, I see it topping out at $35 or so before it falls back a little. I do think it will stay above $25/oz for quite a while. At least a year or so. If it stays high enough many of the foreign mines will start ramping up production and it'll go back down again. Gold is the one that has surprised me in its high price for so long. Back in the early 90s I saw it at $275/oz briefly, but had no spare cash then. Even adjusted for inflation that's a heck of a deal compared to now.
     
    Top Bottom