All this talk about silver prices falling, but no mention of gold

Discussion in 'Bullion Investing' started by myownprivy, Mar 24, 2020.

  1. myownprivy

    myownprivy Well-Known Member

    It's the same old song. Everybody on bullion forums is obsessed with silver. Why?

    Silver "recovered" to $14 an ounce. Meanwhile, gold is over $1630 an ounce! In the same month that silver fell from about $17 to about $14 (a drop of 18%), gold has held strong.

    To put $10,000 into gold, one would need 6.1 ounces--an amount small enough to hide in one shoe.
    To put $10,000 into silver, one would need 714 ounces. An amount that wouldn't even fit in a shoe box. (And if you bought it in bars to fit in the box, it would break the box if you moved it!)

    If you put $10,000 into gold in the beginning of the month, you'd be about even if not slightly profitable.
    (About $1588 to about $1630)
    If you put $10,000 into silver at the beginning March, you'd be (about $17.1 to about $14 now) you'd be down about $1,800


    And silver is ugly!
     
    xCoin-Hoarder'92x likes this.
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  3. longnine009

    longnine009 Most Exalted Excellency

    Don't you know? We buy it to annoy you.
     
  4. longnine009

    longnine009 Most Exalted Excellency

    Too good of a mirror for you?
     
  5. -jeffB

    -jeffB Greshams LEO Supporter

    If I put $10,000 into gold, I get a small handful of coins. If I put it into silver, I get boxes of coins.

    Some of us like coins.
     
  6. longshot

    longshot Enthusiast Supporter

    We don't all think silver is ugly. And you gotta admit a few thousand dollars of silver makes a more impressive stash vs. the same amount of gold.

    Now if I had the funds and inclination to buy lots of PM's, I'd possibly agree with your perspective.
     
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  7. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    If I sent you my address, would you send me $10K so that I can buy some gold?
    ~ Chris
     
    slackaction1 likes this.
  8. -jeffB

    -jeffB Greshams LEO Supporter

    Condescending comment about people who talk about "bullion investing" but don't even have $10K to spend, coming in 3... 2... 1...
     
    slackaction1 likes this.
  9. myownprivy

    myownprivy Well-Known Member

    No, I don't think most people magically have $10,000 to buy bullion. But I do think the average middle class person in their 50s or 60s (average age for this board?) has accumulated about $10 grand of bullion over time.

    So think about this:
    In a time of financial downturn and political panic, you could drive down to the coinshop with a couple ounces of gold to sell for $1630 each. Everyone can carry two ounces of gold.
    Or, if you were a silverbug instead, you could drive down there with your silver that has lost 18% of its value and lug 233 ounces into your car. Can all of you even carry 233 ounces of silver? Not everyone in 50s or 60s are particularly mobile.
     
    crazyd likes this.
  10. Collecting Nut

    Collecting Nut Borderline Hoarder

    Why must I sell all of my pm's at the same time? I like to go out. Driving relaxes me. It's nice to leave the house once in awhile. You're telling me something I don't like or support but it fits your gold narrative.
     
    xCoin-Hoarder'92x likes this.
  11. cpm9ball

    cpm9ball CANNOT RE-MEMBER

    Perhaps you could send me $10K so that I can buy some gold? ~ Chris
     
  12. longnine009

    longnine009 Most Exalted Excellency

    OP should bring this urgent information to the attention of Morgan collectors. They are just aching to save room by collecting dry flies instead of those big ole cart wheels.They just need a Great Corrector to lead the way.
     
  13. -jeffB

    -jeffB Greshams LEO Supporter

    Oooh! And a dramatic last-second pivot to condescension over physical ability!

    (233 troy ounces is a bit under 16 pounds, or about the same as two gallon jugs of milk. Yep, that's a difficult carry for some folks. Most find ways to adapt, or people to help them.)
     
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  14. Randy Abercrombie

    Randy Abercrombie Supporter! Supporter

    I am just wondering whats wrong with having plenty of both? I like em all. No silver is not ugly.
     
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  15. Collecting Nut

    Collecting Nut Borderline Hoarder

    Aren't dry flies used for fishing? Lol
     
    slackaction1 likes this.
  16. Heavymetal

    Heavymetal Well-Known Member

    My safe deposit box weighs 45 pounds. I calculated around 300 Troy oz silver last year.
    I sure hope I can get to it when I get back to Syracuse. Lobby is appointment only, I hope that will mean me.
     
  17. myownprivy

    myownprivy Well-Known Member

    No, but really. How many of you are disabled? I guarantee you a larger percentage of this forum is disabled than a sports forum, video game forum, toy forum, card collecting forum, etc. Coin collectors are older. Older people have higher rates of disability than younger people.

    So you have to think about that. Yes, carrying 233 ounces of silver is an issue for disabled folks. Carrying 2 ounces of gold is not.
     
  18. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    That's the cool thing about silver, if I'm in downtown Chicago I won't fear for my life with silver in my house! :p
     
    Collecting Nut likes this.
  19. myownprivy

    myownprivy Well-Known Member

    Granted, there is nothing prettier than silver when you open a roll of halves and you find a Franklin. Compared to cupronickel, silver is gorgeous.

    But compared to gold, silver is, well, silver... Second best.
     
    xCoin-Hoarder'92x likes this.
  20. Collecting Nut

    Collecting Nut Borderline Hoarder

    Not everyone shares this opinion.
     
    xCoin-Hoarder'92x likes this.
  21. xCoin-Hoarder'92x

    xCoin-Hoarder'92x Well-Known Member

    A roll of AU+ 1964 Kennedy's, any week!!!
     
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