Sound advice?

[sam1952]

Just have some time this morning so thought I'd share a story that got me started in gold and silver.

In 1990 I was in a jewelry store shopping for a gift for my wife. I was having something special made and got to be friends with the jeweler. One day while in the store an elderly gentleman came into the store and the owner knew him. He went over and took care of some business with him in about 10 minutes. After he left he showed me a one ounce gold krugerrand. He explained to me that he came in once a month and sold one coin to him. He called it his mad money.

He further explained that the gentleman was a self employed retired plumber. During the course of his life when he did a job and didn't need the money the guy would buy a gold krugerrand. My guess was whenever the guy did a job for cash rather then suff it in a soup can he bought gold. Maybe he didn't trust banks as was common for people who grew up in the depression. All speculation on my part.

Anyway I thought to myself what a nice idea. So I started buying what I could afford. Trying to buy something once a month whether an ounce of gold, ounce of silver or a roll of 90 % coins. I had some times when I went months without buying anything and some where I bought more. In hindsite I wish I had been more disciplined but I did something.

Times are different now and buying gold and silver for many of you is different then just putting something away. My point is for many of you time is on your side. Even if its a silver coin a month it adds up.

I think what if I had stuck a FRN in a soup can what the buying power would be today... Guess I smile when I think of that....

[justinc.1089]

The ironic thing is sticking a federal reserve note in a bank account right now is about the same as sticking it in a can, except that it will actually stay in the can lmao...

Which is what has got me buying silver now. Its pointless and stupid for me to keep my savings in dollars in a bank account, I think. I'm still keeping some cash, but I'm saving as much as I can in silver now. I'm just starting the process of buying silver with my savings. And I'm planning on trying hard to get as much silver as I can this summer when I'm out of school and able to work more. My goal is 50 ounces, but its a lofty goal lol.

[nayjevin]

Diversify - types of coins, places purchased, and places stored.