Consider This FIRST - Should You Store Your Cash In Gold?
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- Опубліковано 2 чер 2022
- Should you store your cash in gold? Is converting savings to gold a smarter or safer bet than storing it in cash? There is no single answer, but we can look at the considerations.
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An important thing to remember: When you convert cash to gold, it (obviously) means that you are spending your cash. The thing is, if you have any debt (Mortgage, car loan, credit cards, student loans) and you take your cash to buy gold rather than pay down debt, your gold purchases must include the interest charges you are accumulating. This is one of the (many) opportunity costs of storing cash in gold and can have significant impact on overall returns and your bottom line (net worth). Spend wisely and have your money work for you !
The highest cost you must consider is losing $15,000 for every $100,000 of cash you hold to inflation ( Shadow Stats)
I wouldn’t buy silver or gold with money I would need a year later. I feel very blessed to be able to own the gold that I have. But, it’s long term savings.
Yeah, good stance. Cheers!
Gold and silver are money, we use fiat currency to transact.
#1 reason I buy precious metals: I cannot save worth a damn. Took 20 years to realize if it isn't taken out of income automatically for things like 401k or ROTH IRA, it gets spent.
I don’t care about the price. Price is what you pay, value is what you get. The value of fiat currency is 0.
I only care about the number of ounces I have.
I had saved up $40k over a few years in order to realize a 20 year long plan to move houses this spring 2022. The $40k was to be used for moving expenses, closing costs, inspections, etc. It became clear around September 2021 that we were going to be stuck in our house another 3 to 4 years. I pretty much immediately converted that cash into a roll of 20 AGEs. I think I'm up around 2% on that purchase, really no difference than just holding the cash, but it saved me from investing the cash into a potential losing investment, or outright spending it, as I'm still going to need that cash in a few years. With inflation it seemed like a decent move, time will tell just how decent of an idea it was.
I think you'll end up way ahead in the 3-5 year hold.
If you still got a few years I’m sure you’ll be up even higher by time you liquidate
@@BringingTheHeat-VBC unfortunately I can't stand the tyrannical rule of Illinois any longer. As a resident of this hell hole of 49 years it's time to move on to greener pastures. Our state tax alone has gone up over $4000 in the past couple years. Losing our ass here.
@@BringingTheHeat-VBC here in California property owners and business owners they really stick it to you with taxes. But a's for property at least we have prop 13 that limits that increase to 2%.
I’d love to hear how it turns out. Good luck!
I buy gold because it's relatively liquid but at a certain point the minor hassle of selling it keeps me from buying things I don't need.
I know I'm in a very lucky position, but savings account rates have been shit for a while and I don't want extra tens of thousands of dollars sitting in my checking account just waiting for me to feel like I should ball out. Having my checking account relatively low makes me feel a sense of money urgency I otherwise wouldn't
It’s all in the time frame. While I would “bank” gold for 10 year use or 3 year use, I am not comfortable with 6 mos to 18 mos.
Short term the only thing you lose with gold is basically premium. Still worth it to store my emergency fund in gold, in my opinion.
Yep, sounds about right. 🤜🤛
I agree with you and see cash and gold as having different strengths and weaknesses, so for me it
would not be good to convert short-term cash into gold or silver. Both of these are volatile assets
and what I need most from short-term assets is stability. If we were talking 3-5 years or more, then
gold definitely gets the nod, even for shorter terms, but I would still keep at least some cash on hand.
I'm with you on long term goal gold, although my shot is 20 years or more, just like financial planners suggest at minimum. Also cash last year had 6% inflation and this year is 8% inflation. That beats the 2% loss +3% premium on gold buys last year. You still "win" even on losing!
@@edb3877 I agree, but with the current inflation rate, some would argue that the dollar is volatile right now.
I put cash in gold and disappeared that gold. I can't lose it. I can't spend it. It doesn't exist... until it has to.
That makes sense to me. 🤜🤛
A little midnight gardening?
@@ndrthrdr1 Yep... growing wealth.
Sounds like sound management to me.
Like iv said on other channels with great results and everyone concerned knowing its safe with me can you post the location I shall find and store 8t for you
Wait a minute, we’re supposed keep cash?
How else are you going to cover those days at the track?!
@@2is1gold goldbacks 😂😂😂
Thank you for sharing, this helped me alot.
Timely topic we were I. The midst of deciding holding cash or converting to gold…thanks for the food for thought.
I happy to be back. Your channel is amazing and inspirational.
Hey thanks! I appreciate that!
Dollar has lost purchasing power from 1913 to today 98% down ….. so I would expect and think cash is doing way worse than gold …. Right?
Depends on timing. We’re converting dollar values to dollar values, though, so purchasing power doesn’t factor into the math here. Cheers!
If you had coins from 1913 you would be doing great
@@geoffrobinson Yes, and if you had cash from 1913 it would have a little
collector value but that would be it since it is no longer redeemable for FRNs.
$20 an oz to $2000 an oz in 100 years. Ya 98% inflation sounds about right.
@@AudioMayhem100 Yes, it's way up there, being a lot more than most people realize.
That $2000 is 100x $20, makes it seem like only 1% of the US$s buying power remains.
This is way beyond sad, IMO, it's criminal.
Converting fiat to gold is essentially what every gold holder does which ironically includes central banks. Taking a percentage of one's capital and converting it to gold equates to doing the same as central banks. Gold isn't a gamble unlike other investment vehicles, it's a store of wealth and should be viewed as such for many reasons. Holding 100% of one's windfall from a sale of an asset is rather silly as the annual rate of inflation will result in a net loss of wealth of at least 3% per year. Cheers!
That's a great point. I'm in a 2-3. year time horizon and on the fence as to whether I put cash into gold. Not knowing much about PM performance relative to equity market crashes, I'm not confident that the metals tank along with stocks. I'm hopeful that gold does present that buying opportunity.
Going by what some people say, if you have 10 years of food, and no debt, you should leave your cash in the bank to become worthless, as you can't eat gold and silver.
I am beginning to think, people who say you can't eat gold or silver, have no money to buy it with.
I have long thought that the phrase "you can't eat gold or silver" is an intellectually vacuous
comment. Being able to eat something does not have to define its value. There are MANY
things in life that are useful, valuable, necessary, and that cannot be eaten.
I agree that the comment does ring of sour grapes / envy.
Gold and silver are long-term savings only for me. I actually plan to pass it all down to my kids, assuming I don't have a pretty dire financial emergency.
Stacking gold for the long game. Emergency funds already been set, got a stack of fiat in storage for "just-in-case" so any left over "play money" goes into growing the gold stack. A few silvers I like to collect here and there, but it's all about the gold. Got hypnotized by those Buffalos...gotta build a stack of them...hey, a new goal to set! Thanks for sharing "2 is 1"
I'm actually in the process of buying 18 1/4 oz gold eagles from money we received from the sale of an income property. I believe it's safer in gold right now versus in the bank or other markets that are in a bubble. It's for long preservation or maybe to get back in real-estate once the bubble pops.
Another great episode to start the morning to .. I love how you keep the channel true and brutally honest unlike a lot of pro gold or pro silver just talk about the hype and the good side , this is so important for people who are starting out to see before getting caught up in a hype and short term investment. In my opinion you buy gold hoping to never have to sell it and ideally for it to go up substantially in value before and while your children inherent it . Thank's for the great content and sharing your knowledge with everyone.
Hey thanks, Frank! Have a good weekend!
!
@@2is1gold Thanks man, hope you have a great weekend also
Solid advice! Long term!
🤜🤛
Love your videos, always on point.
Thanks!
The most important question you must answer is, "am I wanting to invest (grow) or preserve my assets. Whichever you choose, the stock market is no man's land. Grow your money with ugly, un-sexy businesses like trailer parks, laundromats or hipster businesses like legal weed, distilleries, etc. Metals are for locking in your earnings for the future.
I'm happy enough to stick money into gold that I might need some day, but that some day is almost never in the foreseeable future. I have made a "withdraw" from my gold holdings but that gold had been bought nearly a decade before. Not exactly a fast turn around.
Great video! Thank you for sharing your reasonable perspective. Your channel is an oasis of financial reason with no hype 😄 Best wishes to all! 🏝
Thanks Michael! Have a good weekend!
@@2is1gold you too!
Ok buddy, you have to many good conversations. Particularly about accumulating wealth. Ill subscribe.... so that being said. I believe if you have more cash than AU or AG you should convert half. Then continue to stack! My OP
I can see that. I like having some cash savings, but there’s a point where it stops making sense to me too. Cheers!
I have a 1/3 rule. I put 1/3 of my assets in Gold/Silver (2/3 in Gold, 1/3 in Silver), 1/3 in cash (2/3 in bank, 1/3 physical), and 1/3 in Crypto/Stocks (2/3 stocks, 1/3 crypto).
It’s never a wise idea to put all eggs in one basket, even though you earn more in return if things go in your way.
The cash I have is for at least 6-12 months of use. Stocks and crypto is for short term investment and earning. Gold and Silver is for long term savings and investment.
If there’s ever any financial storm, I would convert half of my cash to PM. Still leaving some cash for daily survival use of course.
If things go well and I have extra cash lying around, it would go to stocks/crypto.
So I put cash as a middle buffer, and then Stocks and PM are both ends of my chart and shift whenever I see how the market is going globally.
That’s just how I think how assets should be diversified. You won’t earn too much in a one time short term goal. But in the longer term, I’m sure this way would last you to your death and be passed on to your children. Just sharing how I do things :D
Nice
How would you split this strategy to include debt payments and rent along with the 1/3 in cash, crypto and metals?
@@ryanbaileyboxing To answer your question.. I don’t really have debts. I only buy things I can afford. Also, I only buy something when I have at least 3 times the cash I have saved. So if an object costs $100, I need to have $300 cash at least. I only use credit cards for the cash backs.
As for housing, we rent. I live with my wife and we are living in a very small suite room. Yes, it’s not even a studio, it’s just a suite room. 90 square feet. That’s all. Rental is like 950USD a month. My wife and I split, so it’s like 475USD a month for me. And utilities are included in the rental already. So no need to worry about that.
Sure I have student loans, but it’s like a 10USD a month payment.
We eat pretty plain, two meals a day, just oats and home made salad. Around 100USD a month. I work close to where we live. So transportation cost is not much of an issue.
Honestly just only my monthly expenses would be only 600USD. (That’s alresdy including everything, the rest is for savings/investments) And along with my wife’s, we do manage to get at least a 1/4 ounce of gold a month, or a tube of silver every 3 months. I buy Britannia and Britannia’s only.
Oh and I live in Hong Kong, I just use USD for an easier estimation for you :)
@@ryanbaileyboxing oh and we only use the cash we have for all the expenses. After paying all expenses, it’s roughly around 1/2 of our cash in bank (the 2/3 bank cash portion of the 1/3 monthly income). Cash in hand probably only for sudden taxi emergency. Or stores that do not accept credit cards.
@@ryanbaileyboxing and if there is any extra spare cash lying around. It would be our little treats for anything we want to do. After all, you can’t just be an all dull no fun life..
Cash in the bank belongs to the bank! That's the problem!
Yes, that IS a problem and potentially a HUGE problem. How such a perversion of law
came to be is truly shameful and disgusting. Isn't it odd that depositors are labeled as
"unsecured creditors"? Time was when OUR MONEY was all the security we needed
and banks were thrilled to have it in their vaults to support their lending program.
Courtesy Dodd Frank!
Cash gold silver all essential. Real estate any commodity other than the metals all essential to secure a solid retirement. Never gambled in the market and never will.
Great analysis but gold is only half of the story. In the one year, five year and ten year scenario’s what has happened to the purchasing power of the cash dollar itself? Both hidden away in your own private safe or within a financial institution like a bank? How does the loss of the purchasing power of that dollar compare to the gains/losses of the value of gold? For instance, if the loss in value of gold in the one year scenario is about 4.5% how much purchasing power of the equivalent dollars was lost in that same year? The current rate of CPI is about 7% year-over-year. If my way of thinking is correct I would have lost about 2-1/2% less having the gold than holding cash dollars. Even less if I had left them in the bank where fees are charged. How about a “Part 2” of this story with the other half of the analysis added? Appreciate your videos immensely.
The math is interesting. Because this video talks about converting gold back to cash and compares it directly to cash savings, the inflation component is removed from the equation. If we were to compare to purchasing power we’d have to account for inflation figures and gold would have to appreciate further. That’s where it gets complicated. Whose figures do we use? Cheers?
It all depends on circumstances. I’m up 17% on gold since i started stacking last summer thanks to some great deals i got. If i had saved the money instead i would be down. Still keeps a month worth of expenses in i owe you notes, i feel that’s enough for me.
If you have the luxury of choice when you sell and can hold for more than a few years the risks are lowered.
For me a portion of the long term savings averaged in to gold suits me. When I get lump sums in through the year it's sure tempting to just buy tubes of gold coins but I feel money is better invested elsewhere for growth and returns.
Great video 💪🏻
Thanks!!
I really appreciated this video! For anyone considering converting their cash to “gold,” would you ever consider using GLD, IAU or one of the goldminer ETFs like GDX? In theory, using GLD or IAU would remove the premium risk and using GDX or even GDXJ could add potential leverage to a cash-to-gold conversion.
(I know goldbug purists will scoff and tell me paper gold isn’t real gold, but if you’re looking at a short-term conversion i.e. less than 5 years, maybe using ETFs is a less risky method?)
I use GLD and IAU personally for anything that will be inside a trade window. It’s not popular around here, but it’s convenient. Cheers!
I never want to churn my stack-which means selling gold to get cash for short term needs. I have no credit cards. I have to try to keep enough cash around to cover short term needs and emergency's. Your answer for how much cash to keep around will vary.
Long term hold as you explained. Not a get rich quick scenario. Diversification is, IMO, important for investments. PM’s are a savings with slow and normally steady growth over time.
There is no get rich quick with gold
@@goldeneye70 exactly.
Interestingly, I pay $8 a month to have my bank account. If I had $10k in my savings, I’m paying $96 a year to keep it there. The yield is a joke, so it’s hardly worth mentioning. But let’s say it gives me $16 a year(that’s generous). I’m losing 0.8% per year just having it in there. The nice thing is the liquidity…but gold is pretty liquid too. Either way, I think having gold with the risk of losing a few % is better than having it in a savings account where I’m guaranteed to lose .8%…just my 2 cents. I think the best thing is both. Look at gold as a 10 year bond and savings as savings.
That makes good sense. Cheers!
For small-timers with a 1 year hold period, consider I bonds with a yield of 9.62% currently, locked for 6 months. Yes you forfeit 3 months interest for holding periods under 5 years, but it's a small penalty given current yield in relation to the banks. Max of $10k per yr.
Subtract 15% for inflation for every dollar you hold.
At the rate that cash is losing purchasing power, I feel that I can no longer hold it. I have pulled over $23K out of a 401(k) and IRA this year already and have converted it.
Interesting video. After seeing those numbers I am slightly questioning my investment into PM's. Long term wealth preservation has been my reasoning. On a positive note it makes me smile and I feel like an Egyptian King when I take it out to admire/touch.
Yes, there is more to holding gold in our own hands than the US$ value it has.
I bought several ozs. of gold at around $1200 an oz. and that has looked pretty good for
the past few years. Not that this was why I bought it but it doesn't hurt to be in the black
on any asset purchase. And, unlike some of the things I own in the stock market, none
of my gold or silver has lost half of its value in the past 6 months.
Gold is a long term life hold for me......saling in the short term a person will lose money because of premiums.
🤜🤛
I hold no gold but have been bullish on silver. I first purchased silver eagles in 2018 when they were approximately $18 each and now that hold of silver eagles has ramped up to nearly $40 each. From my perspective, I think silver has a far greater upside, at least in the short term, than gold. I would be interested in a discussion around this topic.
Maybe u are right, only problem at least where i live is 20% VAT on Silver...
And most off the Europe same...
Silver is industrial commodity, it get used allot, if there is a shortages, u bet prices will go up for sure...
I keep what most would consider to much disposable income as gold. I'm not big into investing aside from a managed annuity. My greatest asset is definitely my farm, but gold makes up almost 40% of my savings. I'm ok with staying middle class and not taking part in other investments. I don't need the extra stress in my life.
Amen, I resemble that comment.
If you’ll like to add some stress you could hold more cash and lose 15% to inflation each year (Shadow Stats).
Every $100,000 in cash is worth $85,000 at the end of 365 days.
@@CAPTAINACTION7 That sounds like a great idea. One so good that millions of Americans are doing just that, but they have no stress because this is America and the dollar is the world reserve currency.
Should you store cash in gold? Good question. Let’s ask Russia, China or India. In it for the long run.
Spot-on....Gold is a Very Long Play.
Now silver, - it is very volatile, and has the POTENTIAL to give good (or great) returns. (As well as good-to-great losses!)
It is really a matter of timing, and not being too greedy at the exit strategy.
The #1 priority when getting in to metals, is never risk any money that you may need back soon....If you do not have a healthy cash reserve, then you may be forced to sell metals when you are upside down on them. (Some folks have told me, well, that is a risk you take....My response is that metals (when done properly) is among the safest ways to store cash (excess cash).
IMO, over time, gold is not as much about savings/investment as it is about insurance/uncertainty. I pay for insurance for my health, house, car, etc. I also "Pay" for my money insurance by buying gold. These days, we all suffer from recency bias in that we all think that ultimately the dollar and US economy will be fine. The only rational reason we think that though is because for our lifetimes, it has been fine. Still almost everyone here knows that 100% (not 99%) of all fiat currencies have eventually failed. Also, almost everyone here knows in their bones that something is very very wrong (whether it's the economy, society, politics, etc. or all of it) currently. My advice to family and friends is to try and ignore their recency bias and buy some money insurance. Right now is the right time-Not only is that insurance on sale, amazingly, people can buy that insurance even after they already know the house is on fire.
There’s some of that for me too. I’m not ready to sound the alarm yet, though. I think it’s a slow burn. Cheers!
Agreed, but I would throw a little into silver as well. It’s undervalued. Especially if they keep using it industrially (which they will) and hammering the green agenda.
I tend to move cash if it's short/medium term into a gold ETF in some proportion, if it's longer term then I go physical. No idea if the strategy is any good but it's gone ok for me so far 🤷
That makes sense to me.
Never thought about a gold or a silver ETF but I'm wondering I guess you could skip on the premium by holding the ETF and therefore make a better short-term investment with that vehicle. Would that be the case do you think.
Hi, 2. I hold my gold. I do not convert it back into cash. All my gold older than three years is worth more than I paid for it. At this point in time, banks do not pay much interest. I have about a third of my savings in gold. If it was my decision alone, I would double my percentage. I would be comfortable doing that. *TYU*
I only buy gold or silver for long term
🤜🤛
What about the stock market crashing? IRA’s? Isn’t long term gold/silver better- passing down to grandchildren? Especially if your already retired?
I’ve been pretty wrapped up in the doom & gloom surrounding the usd for the past couple of years. last week I had lunch with some of our landscape contractors, immigrants mainly from central/South America. They have a lot more confidence in the gringo dollar than most of us do, it’s got me rethinking some things-
No doubt they have had experience with a truly lousy fiat currency that would
make the US$ and other 1st world currencies look a lot better to them.
When the national currency in Zimbabwe crashed hard in 2008, people there
were using US$, Euros, and gold flakes as their money for buying necessities.
That’s a good mindset reboot. Always refreshing to hear from somebody working (literally) their way up from a harder background. Cheers!
USD - cleanest shirt in a pile of dirty fiat currency laundry - this is what you friends are reporting. That and they view Gresham's Law in effect - the crap currency gets spent first and you hold the strongest store of value as the last resort.
Do the 1/4 eagles have the same missing reed security feature that the full ounces have?
Great video again thank you!
I'm holding off gold and saving cash.
I see the price of energy causing a deep recession, assets including gold should fall.
Then when Powell folds like a wet noodle I'll buy.
🤜🤛
That's a great point. I'm in a 2-3. year time horizon and on the fence as to whether I put cash into gold. Not knowing much about PM performance relative to equity market crashes, I'm not confident that the metals tank along with stocks. I'm hopeful that gold does present that buying opportunity.
@@andyb8838 2008/9 is what I'm looking at. Gold went down with the market then sprang up after they started the first QE.
Why did the mint never mint a silver dollar size copper coin? Nowadays if we had a copper coin that size it would be used as a dollar coin. I would like a copper coin like that to use in circulation.
You are right on a short term basis does not make sense if you are going to move the fiat currency again shortly. You mentioned a sale of property keep in mind the bank bail in laws in effect. Anything over $250,000 subject now to your bank taking it to bail them out if they are in financial trouble. With the low/no interest rate you get at a bank maybe you should be your own bank? At least your money will be yours only.
I'm still trying to figure out just why it is our responsibility whenever the banks make egregious
mistakes with money that is in their care. That depositors are then given shares in a failing bank
to compensate them also seems idiotic.
How do you sell it?
Taxes, capital gains?
Off topic but when are you getting a Libertad? I just picked up a reverse proof gold libertad. Only 500 were minted. It's not for stacking but I'm sure you can afford to buy one libertad
When they make them in 32mm diameter! 😅
@@2is1gold you don't need to fill a tube of Libertads, you can just get one for the collection
I converted cash to gold enough to keep us afloat for 6;months. Working to one year. Than I will hold cash in case the markets crash. Than I want to invest stocks that pay dividends.
I see the link for JM Bullion. How do I use your channel to give you some props when buying?
Thanks Danny. I think If you start at www.jmbullion.com/2is1 it’ll let them know that visit came from here. No pressure, though!
@@2is1gold I need some 100 OZ solver bars. Thanks, dude.
I converted to gold for the medium to long haul. Best Regards!
🤜🤛
Said it before and I'll say it again, I'm SO glad you don't have a myopic, doomsday outlook like so many other precious metals channels.
I mention stocks, IRAs or 401k's on any other metals channel and I get flooded with so many "the sky is falling!" comments. It gets old fast.
Yeah, I don’t fault anyone for moving out of a market or asset, but the idea that we’re dwelling on a cliff gets old. Cheers!
I think we have a big downturn coming and it will hit everything. Metals will get cheaper if you can get them.
Gold is just insurance against a dollar crash for me. My kids or theirs may have a drink on me.
Ha. I like that angle. Cheers to good old dad.
3 months of cash on hand. then precious metals in reserve! or rub the genie lamp and use your wishes!
Ha! Solid plan.
Anytime one of the precious metals is on sale and I have sideline cash or even investment money… I pick up as much as I can. I don’t even give it a second thought.
You are right. That is the spirit of a business man
Is it a good idea for Americans to buy Sovereigns? Would it be a little more difficult to liquidate them on this side of the Pond as opposed to Eagles? I appreciate what you're doing and as always, forever endeavor my friend.
They’re well known, but my local shop owners don’t pay much for any old European (or off-weight) gold. Cheers!
I think the timing is right to put all of your extra cash and then some into gold because it's going to go up
I’m always careful about going all in. I’m certainly paying attention, though. Cheers!
Think it's important to own your property, have no debt and also have an emergency supply of cash first. Then get some Gold & Silver as either an investment or storage of wealth. But what the headline here should be, is that you recently completed a property sale. Those proceeds won't be going to buy Gold and instead will be going towards something else. The plan is to....buy a hot rod. 😆
VT247
We don’t have a crystal ball to see the effects of war ….instability caused a huge swing….some people took advantage of that
Taking stock of the gold coin s I've purchased in the last 18months, I have to say I'm in the negative say for one I bought on a whim. A 20franc Swiss Helvetia I'm up about 20$ which ironically is the hardest coin to sell in my opinion. Go figure 😀 Needless to say I'm in it for the long haul.
I have dozen of these and LOVE the hundred plus years old aspect and history they have. Doesn't have to be long term I've sold 1 here and there for around $50 profit someone else seeing what I do and to them better than a new no storyline gold coin. Just my opinion and experience. Stay safe and Peace from Kansas!
@@kscoins4787 I agree with you Kansas on most points. I bought it because there's no way I'd buy a Indian head at the obsurd prices folks are asking especially when there not graded. Love the Swiss miss but they are a hard sell. Sticking with age. Silver on the other hand can be a quick flip pretty easily when buying peer to peer. I've made a few bucks lately but nothing big.
Yeah, 1 year makes no sense. I just sold some property, I don't trust inflation, I got a lot of metal.
🤜🤛
I don't plan to liquidate any of my precious metals until I'm retired. I just make sure I have enough fiat to cover expenses. If an unexpected emergency comes about I have other assets I can part was with.
Cash for anything I need in 12 months. Also cash for emergency fund. Gold is the best place to store wealth with a 3-5 + year hold time.
Smashed “like” button #491 👊before having a Four Roses neat on the backyard deck. 🥃
Enjoy the weekend! ☀️🎉
Here’s to the simple pleasures. 🎯🥃 (I hit it with some Angostura orange bitters in the summer months, btw.) have a good weekend!
Feels lately like I am holding the bag on all of my assets. Bitcoin/gold/silver/stocks all are down since I have been buying in them for the last 2 years. Now I am down on them but I have not sold them so it is not a realized loss. But I am still down on everything I invested into and I took the diversification approach. Ironically to mitigate risk and hold good purchasing power. However as I see the inflation of all goods/services have gone up but my investments for the last 6 months are performing poorly even my gold/silver is down during a high of inflation? What is going up? Everything I pay for and buy on a day to day basis. What is going down is my investments. I think the best investment right now is buying stuff in bulk hell buying gas a couple days earlier and filling the tank cause the prices keeps changing ever other day here. Shot up 60 cents in the past two days.
I understand the feeling. 2022 hasn’t had much going up. I’m not concerned about it not coming back but I’m not enjoying the wait. 🤜🤛
Everyone is getting wrecked this year man.
I would like to know how you're getting gold at 3-5% in the UK the lowest I have found is 7%. Unless buying in bulk ofc
In the US, I can find 1 oz Britannias or Kangaroos for 3-4%, CMLs for 5% and AGEs and Buffalos for 5-6%. Anything "fun" or fractional will be 7% or higher here. Cheers!
@@2is1gold a gold 1oz Britannia at lowest for me is 7.22%. Gold Sovereigns are lowest at 7.05%
You should at least put cash in a I-bond or something if you don’t want immediate access to it. Some sort of asset. Land, stocks of companies with solid returns & history, commodities, etc
🤜🤛
Is it a safe move to convert my bulky silver stack into gold? Then repeat? Are they that much different?
Both metals have their uses, advantages, and disadvantages. I have a large amount of silver,
mostly ASEs, CSMs, and US 90% silver coins. This is pretty close to a 40-40-20 split, along
with a few silver bars. I would like to convert some of my silver to gold but would want for
it to be a time when silver is relatively expensive and gold is relatively cheap. We know that
this is the case via the gold to silver price ratio or GSR. Currently, the GSR is in the low 80s,
which suggests that silver is cheap and gold is expensive, so not the best time for a silver
to gold conversion, IMO. Back in 2011, the GSR was in the area of 33:1, which would be
the time when I would be converting silver to gold. In most cases, one cannot make a
straight trade unless they have a good relationship with a good local coin shop that will
do this. For the most part, such a "trade" consists of selling silver to the shop and then
buying gold from the shop in a 2-part deal. Some time later on, one can reverse this deal
when the GSR gets back above 75 or so. This costs some money to do but it also can
increase the size of one's stack by quite a lot. This is well worth doing IF the numbers
and the deal are favorable. If not, then just hold onto what you have until they are.
I'm a newbert at this stuff but I did just return from my LCS with a gold coin- and a silly little question hit me. Did the polite little girl who helped me at the counter get any love (commission)? They sell spot + 120 (6.5% ish) and I was just wondering if it even matters to them as the employee taking the time with me. They probably get a tad, but just wondering ?
Good question. I don’t know the answer, but I assume it’s something that varies place to place. Cheers!
Cash on hand and cash in savings, to me, are a first line of defense. Gold, right now for me is a little too rich, however, I buy silver every week and have been for over 5 years. Precious metals, to me, are part of my Wealth Plan. So, since cash is my first line of defense, my silver will be for generational wealth and when needed, a nuclear option when it is time to be on offense.
crude oil production peak in 2010 .
the price of gold and silver grow .or better say . the dollar lose value by inflation .
i wish a have half of those coins .
you need some currency to pay bills, buy gas or food and so on. but i think savings can be gold, silver and platinum. yes gold can go up or down but has your currency you hold ever gone up? currency is designed to go down every year (called inflation).
It’s true. If we were factoring in inflation, gold would need to appreciate more. Cheers!
@@2is1gold inflation is a killer. i have a modern woodman account that pays 4% interest a year and with inflation i loose money every year. most people do not understand inflation. its like when people buy $50 in scratch off lottery tickets and win $20 they say i won $20 not that they lost $30.
The different colored desktop for your video genuinely made me think the background hadn't rendered lol.
Ha! I’m filming from the wilderness today!
@@2is1gold Ah, the country house? 😉
My thought is that we're entering a bear stock market, and there will be some historic opportunities to buy things like S&P500 index funds in the next 12 months. A cash reserve for that could be a wonderful thing, especially if you already own gold.
The bear is here. If you have a 401 it register's. Nothing is normal inflation goes up and metals tank. The logic is there is no logic. All our wealth is controlled by assholes doing algorithms.
Having good fortune doesn't always mean money. But having lots of money requires a lot of responsibility. I think the stats are in 2020 less than .01% of the population had the need to file estate tax returns. In that case it's basically 55 cents on each dollar goes direct uncle sam. Seems prudent for those in that situation, to have a micro fort Knox for themselves, something to hold on to and ultimately pass on. Instead of keeping that amount of cash in the bank, exposing it to heavy taxation on an estate. Enjoyed the video, never thought of PMS as a investment vehicle short-term long-term only if any but mostly just a preservation of wealth and capital a guard against Fiat dollars and inflation.
Yeah, estate taxes are a problem. They just beg for people to try to work around them. The buy, borrow, die model is a good example. I agree on having PMs as a wealth transfer since cost basis would reset. Cheers!
@@2is1gold got to watch out for those boating accidents you know. 😅
I didn't hear anything about Inflation affecting the The value of cash Is during the year
The case given was gold vs cash where the gold is converted back to cash again, so inflation affects both equally. Cheers!
You need smaller denominations of a cheaper metal for common barter transactions...... gold will be worth much much more by the time we switch to a barter system like that......
I think I’m getting ready to drop about $5000 at JD Bullion for liberty 1 ounce coins . Better then letting my savings get inflated
I can’t think of anything clever to say tonight, so I’ll just say this is a good video with helpful information. That, along with a like, will, I hope, make your algorithm skyrocket…
To the moon, Jeff! Hope you had a good weekend.
Cash in the bank. Not your cash but loaned to the bank who can suddenly decide they need to KEEP IT, or most of it.
I’m not particularly concerned about that, but I do like some backup options. Cheers!
CASE IN POINT: CYPRUS, 2013
"In One year you would have lost 1.5% of your cash" BUT Remember your loss of purchasing power during that time which is substantially more.
In the case I laid out, it was being converted back to cash, so the lost purchasing power would be in addition to the loss. More reason to hold longer. Cheers!
Your not losing money because gold and silver IS MONEY.
Diversify Dont just pile it all into gold or silver or stocks or cash. Spread savings around. That way when time comes you need to draw from your savings you can draw from whatever one is doing best at the time.
That being said... I hope you actually read that book and its not just a prop. Awesome story of revenge. Everyone should read it. Just not the abridged version. They cut half the damn story out. No the movies they skip the real messed up revenge. Good stuff =P
Agreed on diversification 100%. Same with the book. The movie is absolutely terrible despite the big name actors. The book, though, is one of the best of all time. Cheers!
What ever you have... hold and watch... and remember to - hang on... :)
Done
If I converted cash to gold I wouldn't think twice I will do it in a heart beat because I would want to save 3 to 6 months savings of persevering my wealth.
I have about 8 yrs saved in gold and silver, my goal is to have 20 yrs saved when I retire in 10 yrs.
@@lamarravery4094 My gold holdings are for paying my property taxes in hard times and
also to sell to supplement my income in the future. I've been retired since 2004 but
can see the time coming when a lot of what we have today will disappear because
the state and fed govs simply cannot continue to operate with fiscal irresponsibility,
as they have for decades.
You’re not considering a very important factor.
The dollars you hold are being eaten by inflation at the rate of 15% annually.
Gold has a small profit for the year and we are all hoping that it will increase similarly to the way it did in the 70’s - 80’s.
Don’t think the dollar, what’s left of it, can defy gravity much longer but WILL loose at least 15% of its remaining value a year ( Shadow Stats).
Here's a fun question for you guys: If someone told you that they'll give you either 9 gold eagles or 500 silver eagles for free, but you won't receive them until January 2040, which would you choose?
I’d take the gold no question. I’d take gold at the current 80:1 ratio.
@@2is1gold I figured you'd say that. Don't think the ratio will come down in the long run?
@@TXLionHeart maybe you're aware of the historical average is 16 to 1. It may never get back to that probably not. I can't see silver staying at 80 and at times over 100 to 1. I wish I'd been looking at the market in that time when it was over 100 to 1 anything over 85 is pretty much a buy on silver.
@@sur-real3416 Yes, and I'm aware that the ratio it exists in the earth is half of that. I bought a bunch in 2020 when it was very cheap relative to gold. So, which are you picking? The gold or the silver?
@@TXLionHeart 🤔...🤔... Decisions, decisions, well, as a long time silver bug, I'll have to go what's with behind curtain number three I'll take the gold, final answer. 👍🙋
No. You don't really "store your cash in gold". You store your cash in a safe underneath your floorboards.
Oh you were out on the lake this week, weren't you?
Maybe. 😄