This is Why I am DONE With Silver and Will NOT be stacking more of it in 2021 - I AM SERIOUS!!
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- Опубліковано 8 вер 2024
- #silversqueeze #gold #silver
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Our government, here in the U.S. printed a whole lot of paper bills. They sent me $1400 worth of play money as 'stimulus'. I am stimulated to buy physical silver with it - all of it! And why not? - with Basel 3, inflation, rising energy costs, Bit-coiners losing faith in their market and getting into MY market..why not keep on buying while I may?
Ok, good for you but only if you can hold it for 20 years. If you are expecting it to go to thr moon you will be waiting forever
I'm not stopping.
That's the spirit!
Bitcoiner here, the smart ones aren't "losing faith," it's just stuck in a spot where buying or selling isn't a smart idea. It's stuck in a "wait and see" price action. Meanwhile, the impending economic crisis isn't slowing down, so we want to keep accumulating SOMETHING. So, here some of us are :)
@@BackyardBullion 20 years? I think that a good portion of silver investors will be in this for 20+ years, That’s what investing is, Investing is like watching paint dry while Gambling is getting in it for a quick turnaround, It’s like Going to Vegas for the weekend. I would recommend Gambling to anyone who is in such a rush, I have no clue when it will happen but Silver will eventually go up, it’s inevitable and If I die with a ton of silver I will be just as happy that my children will benefit from it :) I think Silver even with premiums is still a good deal. I would love to see 20 more years of cheap silver before the price goes up as this gives me even more time to buy as much as I can.
It’s funny how the last few weeks, everyone has been saying, “buy, buy, buy”...but this week, people are saying, “no more”. I think I should quit watching UA-cam “stackers”. I have only been following a few channels like this, and only VERY recently began watching them; I can see the futility in it, and won’t be watching anymore videos about “stacking”. My gut has never been wrong, and I will continue to listen to that, and that alone. When silver goes down, I’ll be ready. When silver goes up, I’ll also be ready. Thanks for the honest talk. 🐰❤️🇺🇸✊
They said buy buy buy because they had affiliate bonus codes and earn mega bucks from UA-cam ad revenue. Click bait and hype train. I speak the truth and that's all I want to do.
@@BackyardBullion I appreciate that, dude. 🤝
😜😜😜😜😜
A wise choice, Mike "Baloney" is another one to unsubscribe from if you can, also any channel that puts a thumbnail up saying silver will make you a millionaire
@@poultonreal The thing about Robert Kiyosaki is that I can only listen so many times to his story about discovering the allure of gold during his Viet Nam years. I truly appreciate his service to our country, but even I change up my anecdotes when I'm storytelling in front of an audience.
My problem with buying silver is the 20% VAT.
We have no tax on numeric coins here were i live, so thanks for small favors
Same
We don't have that for coins here. I know a billion dealer that charges only a 10-12% premium over his investment grade silver. That's acceptable to me, and Im not going to buy on the second hand market because I don't like to be scammed. Only if I personally knew the seller would I consider that.
I do believe gold is the main thing to invest in right now. Especially here in the U.S with these crazy premiums on silver eagles. However, I don’t think silver has lost it’s good invesment potential quite yet. I think the gold/silver ratio will continually keep closing in, so I will still be buying silver here and there before silver gets to where most people think it should be at in relation to gold.
Thanks for sharing, I also feel like gold is the safer long term bet, silver will be a giant rollercoaster and will have a lot of people stuck holding high value metal
Americans have no idea that other silver exists, other than the ase eh?
@@TheNoobish001 silver premiums are up everywhere, silver eagles are just a radical example. I personally like silver bars myself, but am fond of coins as well
Bitcoin has been highly speculative and extremely volatile !!! I've been all in GOLD FUND for a couple of months!! Too many conditions just favoring gold prices recently.... such as ultra-low interest rates, real yields get more negative due to the increasing hyperinflation, the unlimited QE's since the last Mar. 2020, new waves of Covid pandemic in Asia, all commodities' prices soaring, and the crypto prices tumbled recently due to trading bans by many central banks, all forming the perfect storms for the skyrocketing gold prices !!!
@@TheNoobish001 not this American. I have some eagles but most of my silver is maple leafs and Philharmonics. I also have bars. I never saw the point of paying 2 or three bucks more per Oz for the same amount of silver.
if i had a dollar for every person who said there done with silver,i,d be quite well off. i personally do not like those high premiums on silver eagles. i,ve now switched to silver bars and continue with gold purchases if you can find the right deal.
@@heatherkittleson3984 too fragile
@@heatherkittleson3984 won't help you when the power goes out in a bad situation.
Isn't that the point of gold and silver, holding it for value when inflation hits?
Totally disagree but to each his own. No interest in gold at this time. Won’t sell and leaving it for my daughter, 20-30 years down the road. Good luck with the gold.
Thanks, it's each to their own and I have the best of both worlds, a sizable silver stack and a continually growing gold stack
@@BackyardBullion 650oz is still sizeable (when it comes to carrying it), i couldn't face moving 2500oz in event of relocating.
BTW, Im still waiting for my 1oz gold completer QB from Chards, maybe this week....
Funny, I got from from my parents who brought in 1989, still have it $$$. It was 380 a ounce.....So tell me more.....
The only thing is... the Governments can no longer pay its debt at high interest rates. They will talk about it, and may raise a small amount only to temper down inflation fears. At the end of the day the have their hands tied. They can not raise rates enough to slow the inflation enough.
i done also! 12,000 ounces of silver is enough. i will keep buying platinum and some gold. by the way my cost average on my silver is $8.50 a ounce and i am 62 years old and to old to wait 20 more years.
Holy moly, that's a lot of oz of silver!
@@BackyardBullion i was a little above that amount so my wife and i started to sell some to cut it back. but remember i have been stacking for 54 years now.
A lifetime stack for sure.
Great job! Sell some and enjoy You're last 30-40 years!
I'm a small-time, sloooow stacker, but the premium shift has meant I'm taking it even slower AND only doing 90% US for now.
I did see a online dealers put a couple of bullion coins on sale last week, so they were just below the deal I can get on junk. But 90% scratches my collectors itch and seems like it will always be eminently re-sellable, so I'm comfortable there for the rest of the year. Unless things change drastically. Again.
Thanks for stopping by and sharing!
Check out the 'Junk silver only' group on Facebook! Plenty of Constitutional silver there all the time for good reasonable prices!
I am still stacking , plus I am invested in a few silver coin series, plus I take stacking Silver and Gold like a investment hobby.
VAT doesn't help matters, that's basically a 20% discount on gold.
Silver coins being taxed is just criminal. They are legal tender and should be exempt.
@@TheLiamis There are a few countries in the EU that are exempt (you can problably guess) even though offictially it is taxed in the EU, but Brexit screwed that up....
There's always loopholes to help the rich excape tax. Many coins are exempt from capital gains tax. If people knew more they wouldn't open a savings account.
As long as I have worthless fiat I'm going to try and trade it for metal.
We have already had hyper inflation. Inflation is an increase in the currency supply. Higher prices are a result of inflation, which we already had.
Silver has never really been a viable stacking metal for most in the uk due to vat. Personally I think silver will go much higher. It's needed for solar panels and other green energy investments. I also would never waste money on numismatics, at least not for investment. You could lose a lot of money this way. But some is fun for just collecting. Gold is the money of kings :)
Numismatics are a waste of money..absolute dying hobby and will be valueless
I don’t think “never” is the word you are looking for when you reference the last few decades of fiat… unless you ignore the hundreds of years before that where silver was the fundamental store of value for generations of gentlemen.
Most people buying silver right now, dont expect silver at $1000 the next few years. However silver at $ 130 is a fair bet, the coming few years, maybe even the next 12 months is my bet. Been stacking since 2004, and still buy when I come over a good trade at or arround spot.
Everyone will have a personal price point to either apply the breaks or consider cashing out. I think metals are doing what there supposed to do over time.. sure wish I’d have bought in at £5 an ounce way back when.. If we want our holdings to maintain inflationary value; we have to accept tomorrows purchase may well cost us more.. 😉👍🏽
That's fine because soon there probably won't be much left for you anyway. With green industry and everyone trying to protect there wealth.
Except silver does not protect wealth. It doesn’t even keep up with inflation
@@crunch9876 True enough for now at least.
@@crunch9876 😂😂😂😂😂😂😂 lmao , don’t talk about shit you don’t understand
@@joshtrujillo3732 I’m not talking shot I’m talking facts. Silver had historically neither inversely tracked inflation nor has it even kept up with inflation.
@@crunch9876 what does? So I can buy more price manipulated silver?
It all depends on when you plan on liquidating your stack and how healthy your stack currently is. If you only have a few oz's you may have to suck up these premiums and just go long. I wouldn't worry too much because if precious metals take a dive next year it will be because national debts don't really matter and MMT is effective.
Yes indeed, I am very much at the end of the stacking phase, now I just wait!
Did u just say MMT is effective?
@@evanjobe9485 Couldn't have.
I also have put silver buying on ice.
I think silver will rise significantly and might never return to pre 2020 price levels, but I also think it could have a temporary sharp pull back. if that happens I'll get more, if it doesn't I can live with that
Yep, I think the exact same way
If you put you 1 oz britannia on ebay you can sell it for 35£ but if you try and sell it to a bullion dealer they wont offer you more than 20£ -- even to the point that some will not offer any for sale for months, why is that ? -- same is not the case for Gold .
“A bad buy right now” is a good way to put it. The logistics for silver haven’t made sense to me for a while now. Cheers!
Yeah I just got my first 1/10 oz 2021 gold Britannia. Love the new security Feature
They are stunning coins and amazing to have that detail on a 1/10 oz gold!
@@BackyardBullion I know so small but the details is outstanding
@@silver123stack3 Yep, couldn't agree more. Plan on stacking more of those myself and saving to get 1/4oz & hopefully a full 1oz Buffalo or Saint Gaudens!
I think in the long run, current prices are still cheap. Also, looking at the gold/silver ratio, it makes more sense to buy silver, even with higher premiums.
I would not be surprised if some shark causes the price to plummet so they can scoop up silver at discount prices when holders panic and sell their stack. The market is so manipulated it's crazy and really hard for the little guy to gain a foothold. The "premiums" are simply profiteering by sellers taking advantage of the so-called "shortage" of supply. Still, I'd rather buy a silver coin than 5 coffees a week. Something is better than nothing but I wouldn't go into debt to acquire the metal. MY TWO CENTS.
I went deeper than I'd like in PMs recently even with the silver premiums. I had a small amount before from a few years back but something about all this massive money printing and continuous UBI-like programs coming out...has me a bit worried, and came back in this year. I don't even really want it to popoff like others think it will. If it does then sweet, but tbh I just want to lock in value in some form instead of holding cash. The outlook of the dollar doesn't look too good, unfortunately. So I'm coming in from a defensive position not for speculative gains.
If it dips back to what it's been in the past then I'm ok and will continue stacking at those prices. If SHTF then at least I'll sleep a tiny bit better. Lol
Good to know, thanks for sharing your thoughts. I agree it is important to have a diverse group of assets
You can avoid the high premiums and VAT by buying silverware from auction houses at spot and sometimes are scrap price. So any increase in silver price will be reflected in the scrap price of the silverware. Much of the purchased silverware can be resold on eBay or auction houses. The items that cannot be resold I have melted down into 500g bars.
So when shtf, your "rare" piece might be worth a little over
spot
Yeah, basically
I’ll always buy the dips, since it has out performed gold this year
Agree on most points, we've had plenty of time at manipulated suppressed prices to stack value silver, now is the time for low premium gold.
Curiously, my ratio status has shrunk to 10 - 1 silver to gold. I have now inflation proofed my retirement income for the next 12 yrs.
Good stuff, we are certainly of like minds!
Never sure when I hear statements about 'new' silver mines opening up this summer. It can take up to 2 years to commission a new mine, and until 2019 there were very few in the pipeline as other silver principal mines were shutting down and only secondary mines were still delivering silver. Mothballed mines will open up pretty quickly, but I think it'll be 2022 before any significant additional production arrives from silver mines.
My sentiments exactly BYB. The premiums on bullion now will kill the dollar-cost-avg of my stack. Concentrating on semi-numis and graded coins instead. Thanks for sharing. Liked and subbed. Cheers and stay safe.
I also agree with you concerning generic silver bullion, I haven't bought any this year. The second hand market is the way to go and especially with UK Sterling silver, flatware and other tableware can be bought below the current spot price (when you calculate the pure silver content).
Thanks for sharing, appreciate you stopping by and commenting. Anything around spot or below is perfect. High premiums at dealers because of the silver squeeze movement, no thanks.
Bitcoin has been highly speculative and extremely volatile !!! I've been all in GOLD FUND for a couple of months!! Too many conditions just favoring gold prices recently.... such as ultra-low interest rates, real yields get more negative due to the increasing hyperinflation, the unlimited QE's since the last Mar. 2020, new waves of Covid pandemic in Asia, all commodities' prices soaring, and the crypto prices tumbled recently due to trading bans by many central banks, all forming the perfect storms for the skyrocketing gold prices !!!
So, in what situation would you admit you’re wrong? $50, $60, $75 silver?
Sustainable prices for silver at $50 plus, then I will admit I was wrong. For now, I can see a run up to those levels and then a total dump on the market. When silver goes that high, you will have to time the market very well to even get any profit.
There isn't really a right or wrong. Even if silver goes to $75 what did the other PMs do. Bear in mind BB is from the UK many variables are dependent on region should as premiums , postage , taxes, timeframe, liquidity (ASE king in USA britannias in UK) what's good for one individual isn't necessary good for someone else .
Yes indeed, it's easy to forget about this.
In 2000 silver was $8 an ounce.. in 2021 it's $24 an ounce us dollars.. silver is not a quick buck but a future investment.. keep stacking people.. love from OZ
There's a clique within the stacking community. Silver stackers in particular; they all agree with each other. I'd rather follow down to earth channels like this one because you're logic is on point and you're not afraid to voice a contrasting opinion. I don't think silver will be worth too much more to my generation nor my son's. Like silver stackers I collect silver because it's so much easier to acquire, but my focus is gold; and when I find myself awestruck by silver pieces I have to level out.
I hear people claim that bitcoin can go to zero, yet no one ever presents evidence. If you don't understand bitcoin just say so, nothing wrong with sticking to what you know and admitting what you don't know.
Btc will never go to zero! I'd rather buy btc at 30k than silver at 30$ but that's just me personally I bought most of my silver at 14$ so I'm content with that it's now time to stack sats!
Turn off the internet, bitcoin goes to zero what more evidence do you need that that?
@@BackyardBullion Are you trolling? Just because you turn off the internet doesn't mean bitcoin goes to zero. That's like saying all of your currency is worthless because the bank closed for the day. When you turn the internet back on it's still there.
Sorry buddy, but when shit hits the fan and war comes, or a natural disaster then how can you use your crypto, you cannot. Cash, gold, silver, real things have value. Bitcoin isn't real, it's just numbers on a screen
I purchased most of my si;ver at 414 to $16 oer ounce. Save for collectables I am more cautious.
Most if my stack is for " prepping" not speculation. Tobbacco is far more barterable.
I agree 100%. I'm out on Silver and all in gold and cash. I took a double bagger and sold all my silver for cash. I'm keeping all my gold til 2023-2025...
We would see drop in prices if interest rates would be close to real inflation. If they go to 5% that is still just half way trough and inflation will push prices of PM up, especially when high rates will cause massive debt fallout.
I swapped to gold about a year ago, im happy with the decision. 45 years of only silver was boring, finally.
Glad I quit silver over a year ago when dealers whacked up premiums after spot dropped to £11. Much rather have my beautiful gold that doesn't take up loads of space.
Yep, me too. Thank you for commenting!
@@BackyardBullion you're welcome
On a late night two weeks ago, I clicked a link and bought $100 of silver from China. I actually thought it was a US distributor. Yeah, all FAKE.
Oh no, that sucks, did you get your money back
In the US, when interest rates hit 18% in 1980, silver hit $50 so I'm not sure that higher interest rates mean lower silver.
After not buying any silver eagles the past year or so, I bit the bullet and purchased two full tubes of them a couple weeks ago as a last hurrah in 2021. I'm definitely done for now as well, looking more into gold for the rest of the year.
Thanks for stopping by and sharing, bet those cost a pretty premium! Hold for 30 years and you will be very happy I think!
@@BackyardBullion luckily in in the US and I personally know a lot of other older stickers that are selling. Paid $4 over spot for the two tubes.
I too am getting interested in gold as my silver stack is quite sizeable. Will get into 90% silver for kids and grandkids. Gold on the other hand, is looking promising.
Silver prices going up doesn't correlate to producers mining more. This has been said by many miners. It takes years to ramp up production significantly for many miners. Agree that rising interest rates will affect the price negatively and hope to see some good buys soon too
We’re very fortunate to have been buying silver back when it was dirt cheap, it’s rare that silver stackers are able to double their money. I had some zero Interest credit debt I’ve been putting off for a year, I know I bought quite a bit of metals with it when it was cheaper, soon I’ll be looking to sell some of my stack to pay back the debt, so it effectively worked out very well for me, now I’m dollar cost averaging into some crypto through these lows, I know preppers and stackers tend to hate crypto with a passion but for me it’s about diversification and also prepping for a potentially digital financial future, it’s seems like that is the way things are going. Would like to hear more of your thoughts on that topic byb, thanks! Hope you’re healing up fast.
Thanks my friend, the knee is on the mend thanks.
for someone who sells silver be careful on what you say said Mr Ratner
Literally no idea what this means
@@BackyardBullion He was the owner of a jewelers in the 90's who said the stuff he sold wasn't worth it..Ruined him / look at gold now..I don't understand what you are saying.. It can only go up because humans are pathetic greedy things
Hi BYB, I'm collecting two of each of the QB 10oz coins and due to current conditions, I missed the White Horse of Hanover. So after a search, I found Bleyer Bullion in the UK, which had them. The shipping cost was £26.50, but I did not have to pay VAT which would have been £110. The conversion fee to Canadian dollars was at the market rate and not the usual 4% more. This was through WISE money transfer from a bank debit and their fee was just CDN$1.07. Since I already have two of each of the first 8 coins, I decided to go for it, rather than quit, which I almost did. Hopefully, the last coin will be a little more available here in Canada, though the UK route may be cheaper. We'll see. I already have three sets of the 2oz QB's. And the QB 1oz bullion gold Completer is on my radar.
I completed a monster box of gov coin 2 years back and then put the long term breaks on. I'm 40% up including recovery of premium. The longer you hold it the better the return that's for sure. I've been on the side line all year saving cash and watching gold go down and sideways. Don't feel the drive anymore to buy PM as I hit my long term stacking targets. It would have to a big dip that gets me buying again as I want to maintain my low average rate.
Good to know my friend, there is such a thing as too much silver and each person needs to decide what is right for them
Buying silver is a waste of money. get out of this manipulated bullshit market,
Premiums are ridiculous..... I've gone cold turkey.... and haven't looked back
a wise choice, well done
"When interest rates go up." WIsh I had an ounce of silver for every time I've heard that the past 12 years. Anyhoo, I'm intrigued with silver holding above $27 US and feel that may be acting as support versus resistance going forward. My plan is to start unloading portions of my stack when the price crosses $40 and I think (hope) that's going to happen within the next year. With most of my stack bought around $14 to $20 I'd be happy with that.
Mark my words, interest rates will go up, not massively, but they will go up
@@BackyardBullion metals have gone up with rates in the past
@@BackyardBullion if they go up the economy implodes. The us fed tried before and failed.
@@MrDukeeeey exactly! Rates aren't going anywhere
I only began stacking in January here in the States. I just finished my 2021 tube of ASEs and am 3-4 oz. away from finishing each of my "International" tubes: Brits, Krugs, and Maples. Once those are completed in mid-to-late June, I'll shift gears more aggressively to gold. (Currently have 185 oz. of silver and 2.5 oz. of fractional gold).
Much common sense stated here! Thanks! And ignore the critical comments directed at you...a famous American president once said that "you can't please all of the people all of the time".
That's a nice looking stack you have going there, thanks for sharing 😜
I really am not bothered about the negative comments, but some people can be so closed off to anything they don't like to hear. It's actually quite enlightening and I would rather 100 sensible viewers than 10,000 idiots that just want to destroy our economy and world. Thanks for commenting and stack on!
I kind of agree with this, sadly I didn't start stacking much before this year but I did as much buying as I could earlier, and as the spot prices and premiums continue to jump I'm going to slow down my buying of solver now that I have a base I am comfortable with... I feel like each person needs to think about how much of a base they need and it may still make sense to keep buying until you reach that point, doing so by seeking bargains along the way... I don't see inflation rate increases driving silver/gold down much at all though. I've also been doing a mixture of bullion and high premium collectable items.
Totally with you. I have only been buying gold lately. I am recovering other metals including silver but no longer silver stacking like I used to.
Glad to hear it, thanks!
@@BackyardBullion Yeah I love stacking silver but the premiums are just too high.
It's sad, I love silver so much!
I think you're right , especially about base bullion grade silver , it's too high a premium , I'd buy coins with special designs that will always command more , and low mintage proof , but as you say , gold may be the best buy at the moment..
We are of the same mind it would appear 😜
@@BackyardBullion Yes , especially regarding that gold 1oz completer coin...
: )
Well reasoned, I follow your logic. Trained as a scientist, so it's hard to buy alot of a "luxury" metal instead of a "useful" metal. Love new tech, so planning to get all sizes of the laser etched gold Britannias.
Thanks, glad to hear your thoughts. Those new. Britannias are absolutely stunning!
I've been buying constitutional silver at very reasonable prices.
The secondary market is very dry here in the states, bullion dealers beat most LC's and places like ebay have even higher premiums. Dollar cost averaging buying when I can
Sounds good, thanks for sharing
okay so as a person just starting, should i just get more gold rn or get as much silver as possible while i still can? 6g gold 8 oz silver rn
Unless you are buying bigger gold pieces you will be paying higher premiums on the grams and such. Maybe silver is better, but it's just so high premium right now because of the silly silver squeeze movement. Dealers are happily cashing in on people's gullibility
@@BackyardBullion The high premium is an indicator of a real shortage of the item, and on the long run, the spot price will be driven towards 40 and 50$ within few months. Traders of silver are not dumb nor they are greedy, they are seeing this happen shortly. wait and see
You can invest in pslv, or a vaulted silver dealer through apmex will let you exchange your balance for physical PM at a later date when you feel premiums are more reasonable. I currently buy silver this way and will convert it to gold once the ratio maxes out. I have a physical stack already as well. But I think spot silver is insanely cheap - the premium is the issue.
I picked up .9999 gold for 24.95 over spot.
I have been stacking Sovereigns . Very low premium and just under 1/4 oz
They are amongst my favorites
I’m buying silver from 1986, mostly collecter silver. I can make more money on the collector items, then basic bullion. Silver isnt a investment for me, but i hold it as a insurance, for situations like venezuela. If you stack silver for that reason, the price doesnt mather.
Thanks for sharing your insights, I would tend to agree but I will personally be cashing out if we get some very high prices.
As long as I have worthless fiat I'm going to try and trade it for metal. I like silver and gold. When the silver to gold ratio drops, trade silver for gold. Silver and gold are still on sale!!!
But if you stack for a Venezuela event then BULLION is what you want. Weight. Weight. Weight. As much weight as you can get.
@@bobspizza7444 On Palisades Gold Radio a couple fo weeks ago they said for 21 ounces of silver, you can pay rent, food, utilities for one year in Venezuela. That's not alot of weight!!!
@@lilirobin7136 not all collapses of currency will be the same in a different country. I have been stacking for 6 or 7 years. Have never bought an eagle or a fancy coin. I get bullion rounds. Constitutional and small bars. Y'all can stack whatever you want, but I figure if some form of collapse comes no one will care if it's a pretty ounce or a regular ounce. It will melt the same and be worth the same.
Totally agree, I came in around £18 to £19 pr ounce, I have paid near £30 for the odd coin, not for bullion but numismatic. Fortunately, where I am, I can still get silver coins for £25 ish VAT free delivered. I'd stop too if the avg price was hitting £30 I'm still in to gold too. My belief is that it would be easier to liquidate the sam monetary value of gold than silver in a pinch.
Thanks for sharing, we seem to be of the same mind and that's good to know.
I stopped totally. I'm in American, the tax for people who don't buy 1500.00. I'm a 5 coin buyer per pay check. Not worth it.
Great video...Or is this just the REAL price? I agree with the gold right now BUT to be comfortable with my future In HAVE to put away a certain amount each month. Thanks BB.
It's down to every person and their circumstances. Thanks for sharing!
@@BackyardBullion Agreed my friend, I make smart purchases, almost my whole stack is Perth mint/ ASEs/maples/coins/stuff with lower mintage's besides the bigger stuff. I don't do the generic much, I am holding for many many moons away. Thanks!
"Interest rate goes up, Gold & Silver prices go down." That's the narrative they want us to believe.
It's verifiable fact, but sure OK
The question is do interest rates go up because the Fed is front running inflation, which would be bearish for PM's. Or will interest rates chase inflation, which would be more bullish.
I don't think interest rates will rise meaningfully until the inflation cat is well out of the bag. So I'm still bullish at these prices.
I see your 2021 1 oz gold queens beast completer coin there. I bought three of those recently, I think those will appreciate in the future.
100% agree of what was said in this video even though I am gold stacker! I reckon myself buying silver low minted or trying to buy some particulare series with a higher premium is not a good choice either as with silver it is so much new stuff comming out all the time it is hard to say if in 20 years someone will bother to buy your piece no with higher price. Maby it is just gold stacker point of view but I only buy as close to spot as possible without any other values! Great video anyway mukka
Thanks buddy, appreciate the feedback
Been stacking gold and silver and buying mining stocks. Still holding some, but I'm switching to crypto now. Bitcoin, etherium, and cardano seem to have more upside potential.
I disagree. I believe we are near the largest economic collapse we have ever seen. Worse than the Great Depression. People will lose faith in fiat and demand for precious metals will only increase. Not immediately. But at the end of the crisis, silver will buy you food, gold will buy you houses. Both are good investments. And so are food and ammunition.
Did you even watch the video and my reasons? I don't think silver is bad, I just have bought cheaper and have a decent stack already, don't want to pump up my average price per oz by doubling my purchase prices.
@@BackyardBullion I watched it and read some of your comments. I’m sure you’ve got enough silver. I understand. I disagree however with the assumptions you make. They fit in a sensible economic climate. Then yes, Silver would be likely to crash at one point. Then yes, €100/oz would not be realistic. But when we’ll see hyperinflation and see the dollar and euro crashing, PM’s (and other things even more) will become invaluable. Silver can go to even 10000/oz because nobody would want hyperinflated fiat anymore.
They’ve been printing money like crazy, especially the past year. Soon the Fed will be increasing the interest rates, to counter the inflation, but they are too late to the repair the damages they’ve caused.
If I were you, I’d probably feel the same about stop investing in silver and going for gold. But not because of the premiums, only because of the quantity you already have. Imo it doesn’t matter how much you pay for ‘em at this stage. It matters how many of ‘em you have. I don’t care about the price in fiat. Fiat means nothing to me.
Can't argue. I've too been buying more gold. Only silver I'm buying are things I'm collecting. At least it can't go to zero and will probably continue to run.
Indeed, well said buddy. Thanks for stopping by and commenting!
Never got started in Silver purely because of the VAT. Money went into Gold instead and will continue to do so.
Good to know thanks for sharing!
@@BackyardBullion I would love a big pile of shiny silver one day like yours though 🙂 you have some stunning coins in the collection.
Joshua, why should I delete my channel exactly?
@Joshua Pett 🤣 what a stupid thing to say.
@Joshua Pett calm down bro hes laying out his reasons , Might not be what you want to hear , Never follow the Crowd do things for yourself
I'm buying a little more silver but maybe only a 10oz bars at good deals. I'm only going to buy a couple more 10oz bars (Engelhard, Sunshine, JM, & A-Mark)
& only if I find a good deal right now $310-$315 a little more for Engelhard for their liquidity. I feel buying 10oz bars is right on the money but can save on Premiums.
Finishing up the Marvel series. Got 2 Spidermans on the way at the greatest deal available 1x raw & 1x red slabb NGC MS70 First Release!
Just need the Black Panther to finish it up. Then it's fractional gold from here on out! Traded my 2 duplicates QB 2oz dragon & 2oz griffin out for 2x 2021 Britannias, 1x toned 2010 ASE, Mavel coins Hulk, Iron Man, & Thor. So 4oz out for 6oz! Price equals out fairly well, my buying cost average was low. My exit strategy is always the buying part as low as possible for high liquid coins & bars. I also was able to get a hold of one of the Awakening Infinity 5oz coins low mintage of only 2,000 for $202!
At the end of the day.. It is a precious metal so surely it shouldn't be 'exactly' cheap, no?
Don't get me wrong, it feels wrong to pay £30+ per ounce when one started staking @ £12.50 but did the premium drop much with the Corona dump.? No?
Paper price does not indicate silvers true value in my opinion
I started buying silver when it was around 4 dollars an oz and today I purchased a 5 oz bar my wife thinks the premium was out of this world but stacking silver is a way of life for me. I love it and I'll never stop .it's funny the wife wants me to stop but the kids that are all grown up support my silver buying habits. go figure
Buy silver till we get to a 50-1 ratio silver to gold price ! Buy them both if you get to 50-1 exchange your silver for gold !
But the premiums are not representative of those ratios, that's the point I am making
@@BackyardBullion True in the name of preserving wealth is my intentions only ! I think we both know the fiat currency we are using has its end in site and state sponsored crypto will take the war !
Finally, gold is king. Well atleast in the UK....
Gold has always been king in my eyes at least!
No VAT for starters
Yo he overdosed on silver. RIP Backyard Bullion.
Yep, first world problem to have too much silver!
His skin is turning dark grey!
For over a year now I have only bought the odd individual silver coins to complete series I am collecting. I bought the bulk of my silver in 2015 - 2018 and it's a considerable amount so I don't feel the need to be buying at todays prices especially given the premiums and the 20% VAT brought in after Brexit. I wish the silver squeeze guys all the best and if the price rose dramatically I would be very happy as their argument and the fundimentals seem sound but nothing seems to follow fundimentals any more absolutely everything is manipulated to keep the plates spinning.
Thanks for sharing my friend. The thing I am concerned about is that there are so many people who think they are going to become instant millionaires with silver, not the case and there will be a lot of people left holding expensive metals for decades and some of them will end up losing money.
@@BackyardBullion The only possible scenario I can see for silver to go to the kind of outragous prices that some are touting is if the financial system completely collapses and JP Morgan decides to recapititalize itself with it's massive silver holdings. We have seen with oil going negative that sometimes the disconnect between asset reality and the asset derivative beomes so great that it snaps and with silver it would be snapping in the other direction. I view silver as insurance more than a speculative asset and something tangible that I can hide outside any cashless system if that is ever brought in.
Thank you. Brilliant to hear your sensible viewpoint. I was going to buy one or the other and it’s helped!
Glad it was helpful!
@Backyard Bullion (anyone else can answer as well) : I live in the US and I am totally new at buying precious metals and I have a question. If there is a total economic collapse and the US dollar basically becomes worthless, will silver (and gold, for that matter) become more valuable (price-wise), less valuable, or stay the same?
Stay the same. You will be able to buy approximately the same amount of stuff with your silver and gold as you did before, it won't suddenly mean a few oz of silver will be enough to live off
Agree, as silver is a little less liquid than gold you want to have a larger margin of safety when buying. Fortunately, the silver (and platinum) part of my long term reserve is complete and am focussing on gold right now.
How's the Backyard Bullion Blunderbuss coming along?
It's all about the margin of safety for sure. The blunderbuss is very strong at 5 now!
I stopped buying silver bullion last year as I found it to be too expensive. If silver goes up much further I may well sell most of my stack and collect the profit.
or buy gold ?
I agree with your thought process. Perhaps converting silver to gold may be worth considering.
Soon; surely. Not yet I'd say. The GSR still needs to correct appropriately
I agree with Joseph, hold everything I have right now and wait.
Thats funny.
What's funny?
Agreed. GSR may not be ideal when viewing bullion, however, collectible gold pieces with good pedigree that can appreciate over time may be worthwhile. Anyway, good vid & good topic.
I like your honesty! I only buy semi-numismatic coins so I'm more of a collector. Cheers.
Good to know, thanks for stopping by and commenting!
The good money will sell off in stocks which will cause a crash leading to transitory hyperinflation with money then flowing into Gold and no one's to blame for the speculation because everyone's to blame 😜
I don't think this will happen, hyperinflation of the US $ or the GBP £ would literally cause wars, riots and famine, the powers that be would just intercede and stop it.
Ibeen buying since 2016 silver and some gold and 925 sterling silver at estate sales like forks, spoons ect. at resonble prices. And still buy silver if the price is right.
Good to know, thanks for sharing!
I'm basically in agreement with you. I am not stacking at the moment, just buying lower premium gold every once in a while and collectible silver. On that note, I'll be trying to get my hands on a few of the 'CC' Morgans coming out tomorrow :)
Slightly different for you as you sell silver but for you personal stack concentrate on gold ,( maybe platinum although that's not my thing) you probably have enough silver -VAT and premiums are ridiculous and I don't see that changing anytime soon ) don't sell what you have just don't buy anymore . I made that decision a couple of years ago therefore my silver has averages at £ 13-20 an oz delivered. How times change when I started I was 100% silver switched to 50-50 by price last two three years moved to 00% gold for new PM purchases.
Gold is king. Silver is good also. Silver squeezes up more aggressively but is too heavy and takes up too much space. If you have 25oz of gold and 1000oz of silver that's enough. The rest of your money you should invest in miners and other equities and you'll be protected always. P.s. silver will reach 30+ within a few weeks and gold 2000+. Invest in real physical assets but also you need cash and other equities
Forget coins buy bars. Silver is going to the moon🚀🚀🚀🚀🚀🚀
Short-term I agree (6-18 months). Longer-term I think metals are going to boom as soon as we realize inflation and debt are going to drown us. 1970's inflation levels incoming!!
The spot price is a total lie. Short squeeze it; silver spot barely moves up while premiums skyrocket? Ridiculous. I'm just waiting for a better selling point. The only real good time to buy silver is during a crash, in my opinion. At $5 ozt, I'd even pay a 100% premium.
$1-15 range could be a real money maker, but we're nowhere close to that now and won't be until another crash, I think. I will be long at least 50ozt just in case of emergency hyperinflation though.
The bank bailout was only ~£500 billion and silver value went to around $50/oz. Who knows what could happen after trillions were added to the money supply recently. Gold is a solid option but I haven't explored it a whole lot yet.
I've been using my silver to swap for gold. Like you, I'm tired of the high price of silver. I've been stacking it since 1989. Unlike gold, which has been steadily going up since 2015, actually since the 1990s, silver goes to $30, then back to $22. I went into overdrive buying silver early last summer; I just finished buying gold sub-$1800. In fact I slammed it at $1685. But now I'll wait for the inevitable pullback. With silver it's a given. And if push came to shove, I'm good with my gold stack. Next week I'll get the Una 100 oz. silver bar to complete the trifecta (I bought the 10 oz. silver and the 1 oz. gold when they were issued)... and yes, those low-number coins may get me to buy some silver. Rolling in wombats now...
WOW! I like your "Queens Beasts" in gold!? I was able to get the silver.....it's such a cool coin with ALL the beasts!!! I think you're right, nothing only goes up and no way you'll make a millionaire with silver. It's supposed to be a way to preserve your wealth OVER TIME!!!! When it made $50 in 2010 or 2012, it hasn't been that high since! let's hope though!
They are stunning coins in both proof and Bullion love them! So many people want a get rich quick scheme, but it's just not going to happen
I am buying kilos of silver over here and some coins that are more collectable from the second hand market. But again you have confirmed my thoughts on the market and buying gold.
Would still love to buy some American ‘constitutional’ silver but it’s really hard to get hold of in Europe at anywhere near spot.