Precious Metals: Love or Leave Them?

I buy Precious Metals, I have Gold, Silver, Rhodium, Platinum, and Palladium.

My favorite is Silver. Why Silver? It has the most potential. Currently at $15.03 ounce and it's high was $49 an ounce twice. Once in 1980 and 2011. Everyday there are more usages for silver, cameras, mirrors, electronics, solar panels, cars, Jewelry, and it is critical in medical devises. It could be first metal to go extinct. Less mining, actually silver is mostly mined in copper mines. The price is too low to go very deep. So, you have less new silver and more usages. Silver is set to explode in the future. It is a long time hold for now, but it will be worth your time. I have bars, coins, antique candles sticks, Silverware and jewelry.

Silver Morgan Dollar
Silver Morgan Dollar

Gold Is mostly an investment to insure your other assets. It is up to near $1400 an ounce. Its high was $1900 an ounce. Unlike silver everyday there is more gold than day before. It will never go extinct. It is used mostly in Jewelry, Bullion coins and bars. I am not a big fan of Gold. Most of my Gold is in the form of Jewelry, because the Gov't won't confiscate Jewelry. The Gov't did confiscate Gold coins and bars in 1933. If they did it once, they could again. So, if you buy Gold coins or bars, I would get Canadian. I think 10K , 14K, 18K or 22K Jewelry is the safe way to go. You can buy broken gold Jewelry at spot or below. 10Kt is 42% gold, 14Kt is 58.5%, 18kt gold is 75%, and 22Kt gold is 90% pure gold.

Gold Jewelry
Gold Jewelry

Platinum is around $850 an ounce and reached $2100 an ounce. Bars and coins are probably the best form to buy. Jewelry in Platinum is harder to find .

Precious Metals: Love or Leave Them?

Palladium is near all time high prices now, not a good investment, as it will drop by 50% soon, especially if economy comes to a halt.

Precious Metals: Love or Leave Them?

Rhodium is a great investment at current $3250 per ounce price. It is used in almost everything silver is used for. Its all time high was $10,100.00 an ounce. Rhodium is rare and mostly comes from one source, South Africa. A strike or accident at their mines and it skyrockets.

Precious Metals: Love or Leave Them?

These metals are for insurance for depressions, recessions, and economical collapses. Platinum, Palladium and Rhodium are best when economies are booming and product production is highest.

Gold is best for Depressions, as everything's value drops, but Gold will drop the least. Silver is good for High Inflation periods.

Precious Metals: Love or Leave Them?

The rule of thumb is have 10% to 15% of your net worth in Gold and Silver. Like 10% Silver and 5% Gold.

Precious Metals: Love or Leave Them?
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Most Helpful Girls

  • NightFlirt

    Gold, silver, platinum and rose gold are my favorite metals, but give me gems and I'm a very happy girl. They don't even have to be diamonds. Rubies, Emeralds, sapphires I just love the way gems sparkle in the light.

  • Secretgardenblood

    Good mytake

Most Helpful Guys

  • i find this very interesting. you have inspired me to start collecting my aluminum waste for resell.

    • Jimhflmn

      I don't care much for gold, diamonds, etc., so I would be a fan of leaving all but what is needed for industry left in the ground. Example: Diamonds are used for polishing and cutting in industrial situations.

    • @Jimhflmn if it wasn't considered a precious gemstone, it would only be valued for what it really is.

  • Thanks for sharing. Found this Take very interesting.

What Girls & Guys Said

  • Curmudgeon

    But with the advent of digital cameras, hasn't the demand for silver bromide in old fashioned film dropped off dramatically?

    That said, precious metals as commodity trades and as an inflation hedge are always desirable, at least a small amount, in any portfolio.

    • There was a period where silver was reduced in that industry , but now cameras have silver, in them

  • Since silver represents 25 years, gold represents 50 years, and platinum represents 75 years, does Rhodium represent 100 years?

    • That makes logical sense and I like that. Not officially. There are other Precious metals too.

  • I loveeeee gold. I’m addicted to jewelry, ever since I was a kid :)

  • NoPoliticsPleeease

    None of it will matter once the RFID chip is the norm sure it will have value but coins will be done and paper money

    • You can't make anything out of paper or chips.

    • Just like people pay with their phones now eventually the rfid chip is going to replace it and eventually become the only way to buy or sell. It also will store your medical information.

  • No_Archons

    this is a breath of fresh air, some ACTUAL solid advice, thank you

  • Anonymous

    Gold and silver are only worth what they are valued at.