Friday, May 3, 2024

Of Course, I just Bought 3K Worth of Silver...

 ....from SD Bullion, delivered yesterday, and today they sent me an email about how the price of silver just dropped. So I guess in my case that would mean a few days early and a bunch of dollars short!
Now wait a cotton pickin' minute, I just checked the prices on Canadian Maple Leaf BU coins, my recent purchase was 100 of them at $30.18 per coin shipped and the price today is $30.24 so I have to wonder what they mean by the price of silver just dropped. I wonder because it most certainly is higher than it was on April 24th when I placed my order. Either they are spouting bunkum (read the "Did you know?" section on that page) or their price went up in after April 24th and before now; then again dropped down from whatever it went up to in between those dates.
Regardless, they had the best price, that I found on silver BU Maple Leaf coins when I placed my order. Right now, I am thinking SD Bullion & APMEX will be my go to companies whenever I purchase bullion coins. I think right now, at spot prices, I have about $8,700.00 in silver and about $8,100.00 in gold. I am slowly building up hat I have and hope to get it up to at least $30,000.00 to $50,000.00 before the U.S. economy collapses as there is no doubt in my mind that will be happening within the next ten years at most and then my cash will become useless and my government pension will disappear. That is unless someone knows how to perform actual economic miracles far above the powers & abilities of mortal men. I am sorely tempted to give a big immediate boost to my bullion stock by buying another 20 or 30Ks worth right now but I am afraid that the bullion prices will drop markedly if Trump is elected. If they keep at the same price or go a bit higher after the election I may just roll the dice and get it all at once. Of course if the prices do fall substantially I will buy - buy - buy and the temptation to buy it all at once to hit my goal will be strong.  Until then, I am going to buy some every month, less than I amount I just bought but at least some to keep my stock growing. I should have done this decades ago.
One thing about my buying habits is that when it comes to gold I have usually purchased 1/4 ounce coins. Buying that size coin adds a considerable amount to the cost but there is a reason I go that extra expense sometimes. I figure it this way, if there is ever a total collapse of our economy, which is most definitely on the horizon considering the trillions of dollars we are in debt as a nation and the unrestrained spending habits of politicians spending money they do not have. Think of hyperinflation in Germany in the 1920 & 30s - no one could have guessed what was coming and coming on super fast within only a couple of years. In Germany a loaf of bread costing an outrageous 163.00 Deutschmarks in 1922, going up to 1,500,000.00 (one million five hundred thousand) Deutschmarks in 1923 and capping out at about 200,000,000,000.00 marks (two hundred billion marks) at the height of their hyperinflation. Joe Biden and the dems & RINOs keep spending and think printing more dollars will alleviate the inflation problem but sooner or later we will be called upon by our creditors to pay up and then our economy will fail totally, that is if not sooner just on its own without even one creditor asking to be paid. It will make the Great Depression look like a bull market. (Note how Biden no longer says how great is Bidenomics!)
 So, it is just as possible here as it as in Germany and look at the result there - the rise to power of the Nazis (to whom our current crop of radicals on the left appear to be very similar in ideologies). In such a case of an economic collapse here, it might be very wise to have smaller sized bullion coins to buy things. Start pulling out a few one ounce coins and maybe get ripped off at gunpoint or just by way of the deal. Pull out just enough in smaller gold coins, sure you can get ripped off at gunpoint but I think it less likely to get ripped of in the deal end of it. Knowing the price ahead of the deal being finalized and using smaller coins allows you to go retrieve just what you need then come back and pay the guy. Think about it, if you use only one ounce coins and want to buy what cost only 1/4 ounce of gold, who will do the cutting of the larger coin and the weighing of the pieces to assure it is spot on. Then again, if they rob you and take a one ounce coin you are losing a lot more than a quarter ounce.

If I never need to rely on bullion for living expenses, then my son and daughter will get an extra bonus in my inheritance.
All the best,
Glenn B