Silver Spot $24, Supplies Down, What Gives?

There will be a day where people look back and say "I wish I bought it for 40,50,60,100,etc" ot is coming. Just watch

 

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Yep hindsight always makes us regret. I could have bought huge amounts of silver for under $2 an ounce, and double eagles in the $60 to $70 range.

 

And bagels for $.02/ea.

 

1960's......

 

If the YouTube carnival barkers aren't experienced economists or gold traders or haven't put their monie$$$$ where their mouths are.....I tend to not be that impressed.

Track record is key.

 

Yeah, but at what relatively would you give up? Even at $60 are you better off than investing in the Dow if you count dividends? I doubt it.

Coin collectors are an older group, and humans have a tendency to only remember nominal values of things, forgetting how expensive $60 or $70 was back then. My only regrets in coin collecting is not buying items simply unobtainable today at any price really.

 

Even then pay attention to the "track record". One of the oldest cons in the pm world is to every year publish how "pm is going o the moon this year!!!!!". Then, the one year in ten or 20 they are right, they brag to everyone how they "called it", ( btw pay me money for my next brilliant prediction). Even a broken clock is right twice a day, it does not make it a fine timepiece each time that happens.

 

The chance to buy Saints at < $100 and silver at $2 were quirks of history which are the ONLY thing keeping their long-run (50+ years) historical returns even within striking distance of the stock market and maybe even the bond market.

You had the price of silver and gold artificially held back for decades from 1933-1971. You also had demand for silver and gold coins dramatically lower because it was prohibited or questionable for Americans to hold gold (until legalized in 1975).

The low prices for small face value American coinage (Franklins, Barbers, etc.) also benefitted from the post-1970 explosion in coin collecting and precious metals prices. If you collected Franklins or Barbers or SLQs or whatever in the 1950's or 1960's, you probably saw decent appreciation over the next 40-50 years. If you started in the 1980's or later, you didn't.

All of these coins and PM's took off in the 1970's when oil went up 10-fold, gold went up 20-fold, silver went up 50-fold, etc. Inflation roared...exchange rates were all over the place...and even when it all stopped in the 1980's the 1970's were too close in the rear-view mirror for people to not hope for a repeat.

I'm sure many of you remember Howard "Ruff Times" Ruff and others who made fortunes on newsletters, speaking tours, and their own investments in the 1970's. They literally lived off that for another 20 years even though nothing they touched ever came close to recreating the 1970's performances (except commemoratives in the 1980's, for whatever reason).

I would not count on it happening again. If BitCoin stops sucking $$$ away from gold, then maybe common Saints trade at $3,000 when gold is $2,500 in a few years. But buy your coins as if their numismatic AND precious metals value never appreciates and maybe even declines.

That way, you'll never be disappointed.

 

Then you won't be impressed lol. They're generally bullion sellers who are more than happy to sell metals for dollars. Theres also basically a guaranteed minimum number of views you'll get if you just tell stackers what they want to hear

 

I almost made the mistake of commenting on this thread. Thank goodness I came to my senses.

 

Oh I know they were expensive back then, that was why I didn't buy them. I couldn't afford the $60 to $70 dollars.

Every does forget that, They look at old price guides and wish they could go back to that time and buy them at those prices, forgetting that for the time those prices were HIGH. What they don't tend to realize is that 50years from now the next generation is going to look back at the prices of coins today and say the same thing. "if only I could go back to 2021 and buy those coins at those low prices!"

 

Maybe in nominal dollars, but you won't find the HUGE increases in coin prices that were seen from 1970 to the present.

You'd need gold at 5-figures to see that kind of move !

 

I wasn't necessarily talking about gold coins.

 

Still waiting for my order from March; zero updates, other than it says the order is being minted.