The Market goes down
One of my long term investment interests includes silver coins and bars. I’ve been watching the market of recent and have been looking at the price of silver go up and down. My concept being that historically, when markets tank the costs of precious metals (silver, gold, platinum and palladium) tend to triple or quadruple, as they did most recently in Argentina during the 2000 economic collapse.
Now, I think it’s a long shot that the US dollar will suffer as greatly as the Argentinean dollar did when the US to Arg dollar rate went from 1:1 to 1:3 overnight, but as a “hedge bet” the investment is something I like to have as a “just in case” scenario.
I’ve watched the price of Silver go from $13.98 at the beginning of the month, to just under $11.30 a few minutes ago. Depending on what it does, I may have to buy plenty of shinnies!
ETA: I decided to not buy any additional silver as I wanted to have a small surplus of cash. The price is now higher then when I first posted.
Shoulda woulda coulda!
Now, I think it’s a long shot that the US dollar will suffer as greatly as the Argentinean dollar did when the US to Arg dollar rate went from 1:1 to 1:3 overnight, but as a “hedge bet” the investment is something I like to have as a “just in case” scenario.
I’ve watched the price of Silver go from $13.98 at the beginning of the month, to just under $11.30 a few minutes ago. Depending on what it does, I may have to buy plenty of shinnies!
ETA: I decided to not buy any additional silver as I wanted to have a small surplus of cash. The price is now higher then when I first posted.
Shoulda woulda coulda!