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- čas přidán 24. 10. 2023
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banking, finance, gold, silver, precious metals, cash, wealth preservation, economic uncertainty, financial independence, store of value, means of exchange, alternative finance, bank withdrawal, financial strategies, personal finance, financial system, economic trends, global economy, investment, asset allocation, monetary policy, inflation, deflation, wealth management, fiat currency, currency devaluation, financial education, financial literacy, monetary history, financial freedom, financial planning, asset protection. - Zábava
I remember when gold was at $300 per ounce. Back then, I never even considered $1900 an ounce gold but here we are and people will scoop up gold eagles and britannias in a heartbeat.
I remember when it was 85
My mom dad was stacking back then .
I thank them for my inheritance
I do too, however, what else could you have gotten instead of an ounce for that money back than?
It's not like you got any real returns, just a lot more monopoly money.
$300 back then had a different value than $300 today, so don’t feel too bad about it. It is just how inflation works. Price and value are two separate things.
@@Janky2912What he got was a safe store of value. His savings could not be inflated away (stolen by government) because they were in the form of gold. No printing press on the planet can crank out more gold bullion.
Same argument for who would buy bitcoin (not that I'm in or not into) at 1$ or 10$ or 100$ or 1000$ or 70000$. Value is what someone is willing to pay for anything
You have to remember that Gold price isn’t really going up, it’s the currency losing its value. If Gold ever reached £10,000 and stayed there, then it would sell just as easy as £1600 sell right now. People won’t want to keep hold of money if and when it starts to quickly devalue imo.
I remember in 2012 when gold was £1100 and people were saying who would buy at that price, then it went back down to £700/£800 but had you bought at those highs and held it long term then you would be very happy you had bought it, we will look back at these prices in the not too distant future and wish we had backed up the proverbial truck.
Every ounce of gold is owned by somebody, none is ever left wanting a home its just what you want to accept for it, the buyer will always want to buy it but for as little as he can pay and the seller always wants to sell it but for as much as he can get and time sorts out the rest.
I think the important thing to remember is if you’re buying gold and silver, these are long term item, with long term goals. If you’re trying to make a quick turnaround for profit, these are the wrong items to purchase for that goal. Of course this is just my own two cents, but as someone who stacks, this for me is more of a security positioning in a portfolio that I’m diversifying.
Well said!
Finding a buyer willing to buy at the right price, that's the unspoken counter party risk for physical metals.
It’s not spoken bc it’s not a risk. There are millions of chinese right now scrambling to find and buy gold to get out of their failing yuan. Same thing in Japan with the yen. You’d have to be a retard to hold any fiat currency right now as the Fed is burning the dollar to the ground, and every other fiat is tied to the dollar in some way. If something is denominated in dollars, such as treasuries or bonds it’s being sold. Big time.
Bullion dealers will buy
There is no counter party risk to metals. If you cannot sell it, you/we are in huge trouble and they have outlawed it due to national security (LOL) concerns. But, that is why you need cash, food, water, security. There probably be a dry spell while the fallout settles and people start peeking their heads out of their homes.
Gold has always been expensive and haven't we had a record breaking high for Gold most years for the last 2,000 Years?? I'm very fortunate that I get well paid, (and thank my God everyday) have £0 of debt and think I manage my money pretty well, but even I have to give a second glance when buying anything these days. My Gold and what little Silver I buy now is down compared with the last 6 years or so of buying PM's. Though in a crisis people will chase what they think is way to protect them. The only advice I would give is, if its too expensive and it will hurt your wallet don't buy it and buy the dips as best you can.
I think if the price stayed higher for a longer period, people would start buying it again.
They are probably waiting yo see what happens over the days after the price goes up.
Again; a very insightful video, thanks BYB
My silver and gold (in that order) are my savings account and inflation hedge. Lately though I’ve been polling local businesses to see how willing they are to exchange precious metals for goods and services. The response has been tepid at best but once the banksters institute digital currency we’ll see if things warm.
What everyone say that gold and silver is a hedge against inflation is just a copy and paste statement. Gold and silver are both measured in dollar. So if the inflation is -20% you'r gold and silver will both be down 20% to. To me you'r statement dont hold up.
@theaverageguy3884
Well you do you and I’ll do me.
@@theaverageguy3884. gold and silver are up massively over the last 100 years, and the buying power of a dollar is down 90%. Which sounds better? 😅
@@theaverageguy3884congratulations 🎊 👏 you just described how it is a hedge 😅
yes!!!how is it a hedge against inflation unless it went up 30% lately!? Everything EXCEPT gold and silver went up 30% in the last 3 years!!!@@theaverageguy3884
Its why I think fractional gold is the way to go, rather than massive single amounts
You are definitely right I used to buy 1oz Britannias gold and silver but now only buy sovereigns
It??? What is it?
@@thomasjensen6243 I think "it" is only having larger pieces of gold (i.e. 1 ounce) when smaller sizes allows you to sell small amounts when the market is unfavourable.
I've found having a mix of 1oz Britannia and sovereign is the best strategy for flexibility and maximizing returns
Sovereigns all the way. Atkinson bullion the best dealer
Great food for thought regards considering your exit strategy. Very informative
I think when it takes off after the currency crashes, lot’s of folk will move quickly towards it
I do like that little copper bar 😁
Thanks for the video BYB 👍
This is an age old arguement that pops up every few years. I'll wager back in year 2000 when gold was £275/oz they'd asked who'll buy at £500 or £1000 and here we are at £1600+. Pullback lasted all of 2 days. Back to £1638 today. The dollar is garbage but it looks like Sterling and euro are even worse.
Also selling on the TSF you're limited to a relatively tiny market. It doesn't have the clout of Ebay or public auctions.
Some wise words, thanks for sharing.
Big like number 110! Excellent video and thank you so much for sharing!
Great video 👍 it's very true that it can be a lot harder than people think to sell your metals at the price you want for them.
thanks for your honesty..... selling can be a prob
In my opinion, gold and silver is still under-valued. When the US Fed and the BoE eventually, (next year I think), reduce the interest rates back down and start printing money again, gold/silver prices will go up and there will be a major bull run that will last for a few years. Also, central banks are buying gold at record rates as they know what is coming with regards to a financial reset and digital currencies. The debt derivatives are mind blowingly enormous and unsustainable - it's multiple times bigger than the combined wealth of the entire world! I believe that when gold finally breaks through the $2k barrier, it'll never go below it again. Keep on stacking! Best wishes
Do you think early next year or more towards the end of the year?
@@James777921 my guess is towards the end of next year, but you never know. It could be earlier if the economy breaks and the Fed has no choose but to drop rates.
Very good points! Well done.
In times of chaos there are more opportunities to buy than sell if you have the funds on hands. If there is a complete collapse who would buy it? That is when you had better have other things you need stacked away, food, water, etc.
Zombies don't carry a wallet or have need of gold.
Great Question
That is my concern about gold and silver, who do you sell to if we have a major crash. Also, back in the Depression President Roosevelt outlawed the possession of gold and silver and made people sell to government at the price they set. All the advertisers don’t address this possibility. Please do a video about this.
I really don't think you will have any trouble if gold shoots up. I remember 2011. FOMO kicked in and people were buying at ridiculous prices thinking it would keep going up!
Here’s the deal: 1) Only put $ into silver & gold that you won’t need for at least 5 years. 2) By holding for the long-term, you can choose WHEN to sell and odds are VERY good that you (or your kids/grandkids) will realize a profit.
I am not so sure that the reason to accumulate Gold and Silver is to use during the crisis, but rather once things begin to normalize you once again, have a solid asset
Correct. During the crisis the MOST precious metals are lead and brass. Those get you through the crisis.
The gold and silver help you recover after the crisis.
Most people in Venezuela didn’t own gold or silver before their currency and economic collapse. They figured it out pretty quick and soon they were swimming in sewer outfalls looking for gold or silver. It won’t be any different in North America. Gold and silver are money, the most respected medium of exchange in the world. It doesn’t matter how much a society dismisses them, when their dollar collapses the race for gold and silver begins, proven over and over and over again. But people will still learn the hard way.
Look at Marie Theresa coins.....valued all over the world. A known purity and standard. In ww two the UK had to pay North African people in silver Marie Theresa's. The stamps were done in India.
They did not want promises or paper , they wanted silver.
This isn’t true, quite a lot of people did have a lot of gold and silver and when their money collapsed, they sold it and ran out within weeks. There was a few interviews that stated that the people who had those metals just stayed afloat a bit longer than the rest but all it did was buy them time before they faced the same conditions as everyone else, they actually turned to the American dollar as a save haven
@@DD-ye9bb the USA dollar as a safe haven, now that’s gonna be the lie. People in Venezuela are still very happy to use gold and silver as a medium of exchange.
Spot price will need to settle at the highs for it to be the new norm and considered a reasonable amount as standard IMO even if alot of us state it is undervalued we still feel cheated at a sudden surge for buying
in a crisis nobody will have money. gold is for trading. silver is for buying.
Since Gold and Silver are MONEY, I can make an educated guess in saying "No one will buy it", but instead I would ask "What will your gold buy?!"
Where I live, there are three national banks and they all buy and sell gold, its just another commodity to make money on and silver can be used for barter when cash is banned.
There will always be a buyer for silver because of it's industrial use. IMO.
I just think it's cool to own gold. Gold is only forged in supernovas/kilonovas so it feels like a tremendous privilege to collect and hold a solid oz of gold. They say about 3.5 Olympic swimming pools would hold all the Earth's mined gold. If gold has the added benefit of being a hedge or alternative currency, that's just a bonus in my eyes. I also have silver though
dealers is the obvious answer for gold.. and if you are that skint that you need to sell the gold on a weekend then you probably shouldn't have been holding it in the first place.. in general people who buy non fractional gold aren't doing so because they might need to offload it at a car boot sale at the weekend - there is no VAT, CTG to worry about and so doing it on the books isn't an issue
Cool video, subscribed. I don't know what to do for sure as I'm new to buying gold. I'm way too frightened to buy from random people online and the story you gave of some c*** scamming people makes me want to be even more cautious. I hope that sob gets caught by the police and does jail time or by an upset victim and, well, something else happens so the scammer never does it again. Anyway, I know I'm going to be paying more premium for buying from big companies, but at least I know the coin will probably be what they say it is. As a matter of fact I bought my first gold coin last night on the Royal Mint website, supposedly it will arrive tomorrow. That was just a test and I bought something that is more for sentimental reasons and don't care if I ever sell it in the future.
Mostly I want to buy things that will at least keep their value for some years and then sell them. More like a place to keep money than whether they increase in price. I take the point of who will want buy these things in the future as in what exit will be available when desired. I don't really want to learn the in's and out's of buying things like watches, artwork, gems, numismatic value coins etc... Other investment vehicles like stock, bonds etc... are a separate consideration in my plans, I've got that covered.
People will wait and see what happens next. They need to get used to new prices, and if gold stays around at a high price for long enough, then they will buy. But, I think holding off for a few weeks or months is the right thing to do. I hope silver drops in price, I really want some 2023 germania mint coins.
It seems people misinterpret the concerns of gold stackers when you come across the typical retorts of “you can’t eat gold” upon our mention of ‘economic downturns.’ We don’t imagine a faltering market leading to an apocalyptic scenario where severe hunger is rife! And we don’t expect gold to work miracles or make us super wealthy in the space of a decade, as crypto traders believe and project that belief onto us. Nah, we just want gold to appreciate annually at a rate that consistently beats inflation (say 7%, but that might err on being a bit optimistic) and a store of wealth independent of the fiat system. Consider it a savings account for the tactile inclined!
Transacting in gold/money is a trade, like any commodity. More sellers the value goes down, more buyers the value goes up. If you have to sell gold for fiat currency then the spot price is really just an indicator, the price buyers are willing to pay is the real price.
Love the 100 Sole Peru coin. I got one myself.....just awesome gold coin.
It’s probably a good idea to have a mix of various sizes of both gold and silver
So it's a good idea to be rich. Gotcha.
Rich is a relative term mate...
@@thomasjensen6243
Here in the states, the local dealers vary widely one their selling and buying prices.
I am blessed to have an LCS that is very fair. For the past 4 years or so, he has always bought gold and silver at or over spot. When ASE's were hot, he was paying $8 over spot for them.
Currently, he is buying American Gold Eagles for spot +$20 (he sells them at spot +$110)
He is selling 10oz silver bars at spot +$3 (buying at spot +$.50)
When he gets the 100oz bars, he sells them at about $2 over spot (and buys at spot, or $.50 under, depending on whether he already has any on hand, since they are harder for him to sell)
You are correct in saying bullion always seems expensive.
I bought my first 1/10oz gold Eagle for $38 (premium included) - At the time, that was expensive to me. (If I had a crystal ball, I would have taken a loan and bought $50k worth!) - At that time though, gold had been very steady in price, and it seemed like it would be forever before you could see real gains.....
I tell people all the time....just buy it - don't wait for it to go down. Buy it steady....The best strategy I have seen is to look at your disposable income each month, and save 25%, use 25% towards your prepping supplies for hard times, put 25% towards gold and silver (balance the values) and then use the other 25% to treat your family to adventures.....
I currently have 6 kilo of silver and just 6 Oz gold.
I’m going to buy 2 Oz of gold a month and plan to do that for 5 years (take the monthly average price spread)
And if I end up with exactly what I’ve put in .. I’ll still be relatively happy.
Gold and silver is the new money 💰 Get ready!!
I remember 2011. FOMO kicked in and people were buying at ridiculous prices thinking it would keep going up.
I'm no way gonna buy right now, but my current holdings, a small amount is finally worth more than what I paid for it.
Sold some 9ct this weekend, got a great price
This is why I just have an account that's denominated in gold and silver, and offers a 0% spread. Purchasing and liquidation happens all in-house.
gold is the currency, you dont have to sell it. I owed a guy 4k for a home repair and we had talked about gold before. that is what I paid him in from my stash as I was a bit short of cash at the time. there will come a time when the dollar is a hyperinflated mess anyway. I am about to pay another guy in silver to cut some trees.
Quite right. I would readily accept payment in gold or silver coins for my own goods and services. It is not difficult to do the conversion from fiat money pricing to bullion pricing.
At current silver prices, for example, a one ounce Silver American Eagle is equal in value to what many restaurants charge in fiat currency for a nice dinner meal these days.
Probably the prices needs to settle in a little bit, and if it's the same in 1 month, I am pretty sure we ll have a slightly diffrent feelings about it all.
Easy to buy, but hard to sell even for spot, you don’t see any of these silver/ gold bloggers taking anything to a shop and trying to sell it, cause you won’t get spit, and when the price goes high, no one will buy.
Local banks might go back to holding but who would trist them🎉🎉🎉🎉
It's always easier to buy than sell! You never know what something is worth until you try to sell it!
My Father had a saying, "Its only worth what someone else is willing to pay."
Let it find its new ath and come back a bit before selling, when some people will believe it will go higher...
below spot price gold on social media is almost always a scam, not being real gold but a counterfeit. Stay away from it! Always buy from a reputable dealer.
I like the idea of digiGold for that very reason. I like the real thing of course, and would love a couple of ounces to have and hold in my hands, but at the same time it's a long term thing just like stocks shares and bonds. Silver is a little different in that I like it in a numismatic form and it's more realistic (at least in my budget constraints) to collect. Platinum? meh...it's pretty but I'd rather have silver.
Gold and silver (even that lovely bar of copper you have there) has what cash doesn't have, an intrinsic value.
Precious metals are exactly that. Precious.
Cash is merely a token of acceptance, where the market is prepared to accept a certain amount of cash in exchange for whatever commodity.
Precious metals are "outside the box" of that, because as the value of cash falls (inflation, or exchange rates, or both) the value of the metals rise, because the cash is becoming "worthless" in comparison to the metals.
Having a quantity of metals means you always have "today's cash" locked up in them.
Imagine spiralling inflation (Argentina right now) where money is devaluing at an alarming rate. A hoard of gold and silver coins means their value increases day by day. What those coins can buy yesterday, they can still buy next month, whereas the cash will not.
If it's cheap, buy gold and silver.
If it's expensive, buy gold and silver.
In the long run, you will be glad you did.
The royal mint told me they will always buy your gold off you for -4% spot price of gold, which i know isnt great, but if desperate and in 20-30 years + if gold has gone up 500% or more, 4% doesnt really matter right? Thats my desperate option in the long run if need be
Already happening. Premiums dropping like a rock. Many dealers are now buying far below spot or not at all.
Does it matter when buying bullion coins if they have marks on for value
what difference is the spot price as long as you sold it for more than you bought it ?
It must depend on were you live. I have never had any problem selling metals. In fact when prices rise , the dealers have fomo buyers that will only buy when it's on the match up , if there is good reason. Remember , we are only the tiny fish in this world .
In the U.S. people tend to forget the taxes they will pay for the silver and gold they sell to a reputable dealer. Subtract that from the spot price at whatever point its at and its a harsher awakening. Its basic math.
After a period of "trading anything for anything", eventually after the initial reserves of anyone that has a surplus of anything is eradicated... people will want something that reliably offers a sustainable lasting store of value for trading. This will vary for awhile imo, but eventually history will again lean on gold and silver as the value go to's for barter, trade, and wealth preservation. jmo. Be blessed because this sure is a mess!
What about selling to a bullion company or TRM? Do they offer shoddy prices or something?
There are lots of companies and people willing to buy gold. It is unrealistic, and therefore ridiculous, to imply that you should expect to sell at an unrealistic price/above market value. Obvious that buyers want a gross profit/margin.
For exemple shops sell a kilo silver for 800 but they buy it from you next day for 550. Thats how they make the money haha.
The "high" has to become the new norm before people "who are in the know" will buy it. Otherwise you're trying to sell gold at a temporary high to other people in a forum that also know its a temporary high, it won't wrk well. The forum will work best when there is a temporary low, but some unfortunate individual needs to sell up gold to pay something like medical expenses.
Why would you convert gold to fiat? I think it best as a token of exchange for big ticket items like land, housing etc., and avoid the taxes that go with sales.
100%
exactly gold is for generational transmission of wealth as hedge for inflation, and also as you mention to buy another hard asset in difficult times when the seller is in need
I remember the all time highs of gold at $600. Nobody was going to buy it according to media. Hah. Zerohedge reports Central banks loses on debt securities of $100 trillion and climbing. All time highs over and over again. People think in days not economic systems.
You are that people, kid.
It always goes up look at the comment, s imagine at 1900 dollars an now Dec 5 2023 ,,,over 2100 dollars talk of 2500 end of 2024 ,,easy sell here in Scotland every city signs everywhere gold bought here ,,I got excellent price at cash converters ,,£50 a gram ,but terrible price at jewelry shop ,,😮
please tell me where I can buy gold below spot. I would love to buy below spot.
In Spain more people are aware of gold and silver I have items I can purchase now with either
If you’re stocking for yourself to get rich your stacking , for the wrong reason, I am stacking to leave as an inheritance.
Just give it some time and wait till (hopefully it will never happen) Iran and possibly Turkey and/or Egypt get involved in the Middle East. The strait of Hormuz being mined and closed and 1/3 world's gas and oil exports stop. Even if the price of gold will go to the range of $2100-2500, there won't be many people willing to sell and there will be many willing to buy, paying like 10% over spot, just to make sure they will be able to buy gold.
The LCS is dependent on their bank. With a limited number of LCS (Local Coin Shops), you may not be able to sell when needed (such as SHTF). Then, barter will be the only way. How much gold for a gallon of milk?
Good point!
You would use silver for small daily transactions like a gallon of milk. Gold is only for larger purchases. This is why lots of folks also stack constitutional silver coinage.
Nobody has to buy it because gold is money on itself and silver to
Who will buy this wonderful morning such a sky i never did see me oh my
Hi I sold all my gold at the nice price and paid my mortgage off 20 years earlier. The high interest rate gave me the push .so I am debt free but absolutely broke. Nothing in the bank but maid 100.00 grand in property equity in 6 years. I hv a roof over my head the fridge is full all the bills are paid .whT more do you whant
When CHTF Central bank would but AT any price !
When gold and silver go up,dealers will buy it add premiums to it and sell it for a profit. JUST LIKE THEY DO TODAY.😂
Don't sell any precious metals for speculation. Only sell to meet some financial crisis/hard obligation. Some people in Venezuela sold their gold when it appreciated 3X. They thought they made a killing and a wise decision. But then, within 2 years there was a currency hyperinflation and the gold price went over 25X from that 3X price in their devalued currency. That should be a warning to all. Don't fall into that trap.
sell your gold/silver eventually when it's a mess out there (stagflation coming...) and you can buy another hard asset with it like a house at a price below market because the seller will be in need
You can’t eat gold.
Long term food storage has value.
I don't understand how someone could offer under spot, in my head it's like buying a barrel of oil under market price. Spot should be spot. Thanks for opening my eyes.
yeah when you go to sell they are will be like nah something way under spot... I saw this dude bring in an entire monster box of silver eagles on a pawn channel. The pawn buyer paid spot price for silver eagles ...really blew mind...you will not get that premium back as clamed.....I would guess generic would be some what under spot etc.
Gold.typically drops in July August and rises towards the end of the year so I never buy those months and this year we have Ukraine and Israeli war going on . I've never understood it but some people insist on buying high, so must sell at ATHs, I don't need to do that to make a profit . Side note as gold is cyclical true DCA isn't the best strategy and a modified DCA is superior .
How timely. I just sold a couple thousand dollars of silver that i accumulated over 10 years and bearly booke even. Never again... did use to pay off c/c debt. Now live by the rule if I cant afford to pay cash. I dont deserve it.
NO ONE will be ABLE to AFFORD IT !!!!!!!
Don't need to sell it, just use it to buy stuff.
Its a much bigger picture, it comes down to supply and demand like anything else, as the fiat currencies around the world collapse and they are especially the federal reserve US Dollar, there will be a bank run everyone at the same time and this will cause a precious metals shortage a sellers market just like any other market all gold will be worth spot and more, thats what i see, i have little doubt
Thought gold was higher in May.
My LCS pays SPOT for gold and silver
What you gonna do when SHTF, trade your gold bar for a loaf of bread?
Once the normal person realizes what we learned eons ago, they won’t just buy pm’s, but demand you to sell it to them at ANY PRICE, but this won’t last long.
Just paid 2k for 1 oz my first coin I paid below 300 dollars.
I enjoyed your video, but I think it misses the point of why we stack gold and silver. You don’t stack so you can convert it into fiat currency after a currency collapse. That would be blindingly stupid.
You stack so that you can use gold and silver to purchase tangible goods or services from others in hard times when fiat currencies are worthless and not being accepted anymore by the general public.
History proves this to be the case. In countries like Argentina, Germany, and Zimbabwe, so-called “hard money” (gold and silver) would purchase a great deal after hyperinflation destroyed the currencies of those countries.
At the end of the day, no commerce can happen after an economic collapse unless you have something of real value to offer for other things of value. Gold and silver are SAFE stores of value. Paper fiat currencies are not.
Keep on stacking! 👍🏻
exactly, during the mess you'll eventually use silver to survive and once the mess is over you'll buy real estate, land, house with your gold for bargain price
Silver is best bet
if economic collapse rears its ugly head, then a person will barter with his silver, and proceed as needed to convert gold to silver for more of that trading. Buy and hold gold in the meanwhile because it appreciates in its metal value more rapidly than does silver.
I could care less if the price goes up, its not like I'd ever trade back for monopoly money, that was always a one way transaction, when and if the situation may arrise I'd trade it for something else I need.
Meanwhile, wake me up when it makes a new low
Just wait until people need a wheelbarrow of fiat toiletpaper to buy one bread. They wish they had bought it earlier…
There is alot of fraud...so i would only buy from a dealer
"The World is a complete, crazy poo-fest right now" - funny but true.....