Gold & Silver FAQ

Buying gold or silver is easy. You can find it online or at any gold or silver shop. 

Heres the thing, you gotta know the difference between spot price and actual price. 

Actual price should vary between $1.00 over spot (good) to $1.50 over spot (average)

You should never buy silver in less than 1 ounce amounts, and gold in less than 1/10th of an ounce. 

This is because like most things, precious metals price over spot is lower in bulk. 

Coins and "collectible" bars are a ripoff because you usually get charged way over spot for "collectors value" that may or may not be real. 

Keep in mind a gold or silver "bar" or "buillion" can be as small as a postage stamp size and thickness 1 gram piece. 

Buy generic silver bars at 1 ounce and generic gold bars at 1/10th punce (though ideally buy 1 ounce or more if you can afford it, remember bulk = lower price)

You will almost NEVER buy precious metals at exactly market value, the person selling will always add a bit, never less than an extra dollar an ounce, if its more than 2 dollars extra per ounce its a ripoff. 

Scrap precious metals are a ripoff as jewelry and decoration quality metals are not pure and thus do not posess market value anyways. Plus buyers will always subrtract impurity from what they pay you, and will always sell it like its market value pure stuff. 

(Example, on ebay you can find PILES of scrap gold and silver, you will notice idiots dazzled by how impressive a pile of gold and silver looks bidding it past 2 or even 3 times its actual market value IF IT WERE PURE! its maybe %25 to %50 other metals like tin, copper, and zinc so its not only worth less than the already inflated price they paid, its worth less than .999 fine purity (purity measurement at which market standards apply)

So guys bit of 8 ounces of scrap silver at $250 whilst pure silver is only selling for $150 at that weight, and this stuff is mixed with tin so its only really only woth $100.

So basics: 

Know market value

Know what the expected fair price over market value is. 

Know what purity you are buying. (Market standard is .999 fine. if its any percentage less and that isnt deducted from price its a ripoff)

"Collectability" is almost always either unpredictable at best or false at worst.

Because spot prices per gram are usually pretty crappy, and most folks dont have enough money to buy it at higher amounts. 

Ideally gold is best bought by the kilogram to get the best price, but if you got money to buy it in those amounts you probably dont need to worry about spot price. 

Note: spot price means what you pay over market value to whoever is selling it. spot price on gold should be about $1 to $1.50 an ounce. 

On grams companies usually mark it up more for smaller weights. 

An example: market price per gram is currently $39.64 

The gold shop in my town sells it for $42 even. 

Thats a spot price of $2.36, which is fucking ridicoulous. 

1/10th ounce is at $1.30 over spot price. 


People go "okay, well its just a few bucks, why get so jewish about spot prices" 

Because if you buy an ounce of silver a week like I do, and plan to do so for a long term period then .50 here and $1.00 there will add up to hundreds of dollars over the years, which is money that you could have used to buy MORE.

MORE is bigger returns when markets spike. 

So if I bought 200 ounces at $2.00 over spot when it should be $1 over spot, and markets double thats 10 ounces more I could have sold at twice what I bought it at. 

When stockpiling precious metals over a long term period of time that $200 extra you spent on overly high spot prices translates into hundreds or even thousands of dollars in missed opportunity when big fluctuations occur.

Also collectors coins are horseshit. 

I aint talkin antiques, im talking modern commemoratives that are marketed as collectible.

They aint. They say "oh, we only made $1,500! Buy now before we run out! Limited time offer!" 

So they sell you a gold coin that has 1/10th of an ounce of gold in it at a %40 markup of what the actual gold content is worth because it MIGHT become collectible someday. 

Thing is, since its not even actual currency there are no laws saying that after all $1,500 sell out they cant just make another two, five, or ten thousand more (which they inevitably do)

Garunteeing that your shitty novelty gold souvenir is niether rare nor any more valuable than the metal content it contains. 

Unless its a verfied antique a professional assayer has valued at above its metal content do not fall for collectible scams. 

If your goal is to use metals as a savings method dont even buy these. The point of storing some of your savings in precious metals is to 
A) have a way of storing value that carries no 3rd party risk (wont lose it in a bank collapse, IRS or debt collectors cant garbish it, if you keep is secret your wife cant get half of it etc etc)

B) you can at any time liquidate it quickly to access its value

Antique coins worth more than their metal require negotiations, assayers verification, and locating a buyer who is willing to pay for it, which involves negotiations and time. 

So some day when you need access to that money NOW you are faced with a 3 to 6 week assaying and selling process to sell that $3,000 rare coin. 

You could have just bought $3,000 worth of silver and gold and can walk into any gold or silver store or pawn shop and sell it at just a little bit under market value to liquidate it within 5 minutes.

Yeah, you hear about gold and silver stackers and go "meh" and dont think much of it. 

Most folks only ever see a coin or two at a time. The first time you hold a 5 ounce or bigger bar you get this vague obsessive feeling like you gotta get more. 

Its like a squirrel packing away acorns, ya always gotta add a bit here and there to the stash. 

Once you get a good stack built up sometimes you just wanna take it out and look at it. You totally understand the old concept of scrooge-like misers a lot better. 

Its important to have restraint and to only use excess income a bit at a time because its very possible for it to become a sickness.

doamm1

You want a job with a field that hasn't totally been lost to saturation? Then look into being a meme trader. Yes, you can pump and dump those precious may mays along with those shitcoins everyone has been mining. They got into the game before you. Now because you don't have any skin in the game, you relegate yourself to blockchain explainer...but that's not going to be bringing in 100K a year, by any stretch of the imagination. Aim for reputation more than the money. Get a high status and the cash will follow. Very elementary.

OR

You can stay hung up on that same girl from high school that didn't want anything to do with you.
It's a fantasy world where you are running down the scenarios in your head going down the checklist of things that will never come to be. You put yourself in this situation because you are afraid to leave your comfort zone and try something new.

New employment, new pussy, new money.

What kind of trading do you guys actually do to afford to work for yourself, and with how much capital? None. You play videogames and jerk off all day making losing trades hoping for your precious coins to bounce back. Much like your love life, your precious coins never came to frutate...and you are looking for somebody to blame in the process.

Some people in the youtube silver community noticed that google's algorythms are nerfing any video that mentions silver, bitcoin, gold, pizzagate, and a few other topics.

So follow the money.