15 Years of Buying Gold and Silver – Is It Worth It?

15 years now of buying gold and silver How is it going for me would I do it Again what would I change and what would I say about it to a friend well I will Tell you but the first round's on you [Music] [Applause] People tend to dial in on gold and Silver when there's a clear crisis with Potential wide implications and it's Happening right now the banking crisis That has people looking for ways places To park some savings outside the Industry now if you do any amount of Research you're going to come across the Idea of holding gold or silver or both And if the price movement at the time Were to support that ideal it's doing Right now the price is going up so it Seems like a good idea well that becomes A little bit of a confirmation of sorts For me when I came in we had the crisis But we didn't have the price run it was 2008 we had the financial crisis it took A few years before the prices shot up so I came in during a panic but I wasn't Panicking personally I might have had a Little bit to do with the price at the Time I started this channel in 2020 when the New Panic was setting in and I thought Maybe I could give a few tips on what to Buy and then maybe point out a few Pitfalls to avoid and a big one of those

Was just getting caught up in the fear Of missing out it's a swell that's Pretty easy to get caught up in when you Can actually see the gold price is Directly affected by the same fear that Has you tuning in in the first place you Can actually see gold price move on Market sentiment where it falls on the Fear and greed scale so when the Market's freaking out when the risk Aversion is high the price of gold is Going up and any story of potential Catastrophe feels more real based on the Evidence of increased buying and higher Prices so in other words a lot of people Come into gold and silver in periods of Relative panic I mentioned that I'm on my 15th year of Buying now that means that I saw the 2011 price spikes in gold and silver Particularly in silver in this other 2013 drop and then of course I've been Closely tuned in since 2020 as well I've Had a channel since then the catalysts Of 2008 and the Catalyst of 2020 they're Very different and the Catalyst last Year in 2022 well that was different too The Catalyst this year different again But in all of these cases there have at Least been pretty clear patterns and What I'll tell you after buying and Selling both gold and silver for 15 Years is that precious metals are not a Magic route to Financial Freedom and

It's coming from somebody who's Obviously a fan of them I have a YouTube Channel focused on the stuff and I hold A fair amount but it's probably fair to Say though that not everyone needs gold And silver and that's not Financial Advice I'm not qualified to give it I Really I don't think anyone should take Financial advice from gold or silver Channels this is simply my take on the Subject from a personal perspective Whether or not I do it again past Present future and what I might tell to A friend or family member about it the Spoiler here is that I would do it again I'm pretty clear on that friends family They would be a case-by-case call and I Enjoy it so that makes it very easy for Me to save with it personally and I like It enough to buy it rather than say Wasting money on things I don't need Price spikes they don't push me to buy More price drops they don't scare me to Sell but I'm not sure that all my Friends and family would have that same Perspective So just generally speaking I would say Anyone sticking to a scheduled buying Plan will find that over time it becomes Significant it has become a very Practical and relatively significant Backup plan for me now if I ran into a Major emergency I'd have enough gold Built up to allow a decent runway for me

And my family to get back on our feet And I think that everyone would like to Have that there are just a lot of Considerations in play here opportunity Cost it's a big one to consider if You're buying gold or silver rather than Dumb things that you don't need well There's very little downside but if You're buying it instead of investing Investing in growth assets well then It's a harder call In my personal case I did not buy gold Or silver with any money that I had set Aside for Investments and I think that's Important in my early 30s when I started I was wasting money and I was paying Bills I had less discretionary income so What I did was I carved out a monthly Budget from subscriptions that I didn't Need some money I was already spending I Stopped and I did a few things to kick Off a little bit more in passive income So my gold and silver purchases they've Never really affected my take-home pay I Could have used that money in other ways But I didn't cut into what I would call Normal operating expense and like I Mentioned it never prevented me from Investing to me that part is just really Important because if I was to compare The total gains of my gold and silver to The gains of some of those Investments That I made in my early 30s well my Medals wouldn't look very good my Apple

Stock for instance that has outperformed My gold and silver exponentially now if I compare that instead to spending cash That has come and gone over the years Well I still have the gold and the Silver it has appreciated in value but I've burned plenty of cash and that's All worth zero So if you think of metals as savings Savings that you're not going to need For everyday expenses maybe you'll never Need it at all maybe you'll hand it down To your kids well from that perspective Gold and silver can be pretty great They've definitely worked out well for Me now there are a few things that I Would change if I could go back mostly It's a detail here or there so let's Just get those out of the way first So one thing that I've noticed over time Is that I calculate my total Holdings in Ounces and if there's a waste in buying I would say that it's in high premium so As much as I enjoy a few of my nicer Coins the excitement that I get from Buying something different well it Almost always wears off I have a handful Of coins that I paid more for that I Would probably buy again but I found That I much prefer a tube of one thing Over a pile of random things and had I Stuck to my plan for those two or maybe Three things well I would have more Ounces today

And this is a good example of this this Is a 2021 High Relief gold Liberty it Came with the 50 premium and I couldn't Time the purchase meaning I couldn't buy It when the price of gold was low so I Could have an ounce and a half of gold Instead had I just bought when it made More sense now I might buy this one Again but it's probably only because I Have a YouTube channel this one it shows Up on my spreadsheet as a single ounce Of gold it just has an asterisk and that Means that even though I know it has Value I also know that I'm gonna have to Spend more time with it if I ever want To get that back out the opposite's true As well paying less for a coin well that Hasn't done much for me either the Excitement of low prices Fades over time Too I've picked some up at a discount Coins that I don't normally buy because Maybe they were 20 maybe 40 dollars Cheaper than what I typically grab but That feeling that I saved a buck it just Always wears off quickly too and I'm Pretty sure that I've given back any of That savings by now anyway I've sold off My crew gram fans my britannias even Some Maples recently to consolidate back A little bit I've sold Isle of Man coins Some series one lunars over the years Too I still have a few things like this Proof Buffalo that maybe I thought was Fun at the time I felt like it was a

Deal because I got it for the same price As a bu Buffalo but today I would really Just rather have what I normally buy and The only reason that I hold on to this One is just that it looks good on camera The more important part of this by far Comes from the basic intrinsic value of It all those details of what I'm buying How I feel about anything that deviates From plan it's pretty minor and they're Specific to me I would steer clear of Most of those deviations just to make Things a lot easier but the far more Important part is simply what building Up a stack of metals can do for you I Mentioned this earlier I could subsidize A few years of expenses by selling down A few ounces of gold each month but I've Never had to cut into savings in any Substantial way to buy the gold to be in That position there have been times Where maybe I felt like I was behind Maybe I needed to catch up but I've Mostly resisted that feeling and just Stuck to buying with income that wasn't Already earmarked for anything else Anything important and because of that I Don't have any significant regret Now if there's one thing that I'll say Though there is a reason that I focus on Gold on this channel I've just done much Better with my gold purchases than I Have with my silver purchases over the Years and outside advice well outside

Advice on Silver has been wildly Inaccurate along the way so just like I've cut way back on my silver purchases These days I don't think that I'd be Buying much of it if I was starting over Right now maybe it'll come around but This Spike and then the collapse of Silver that kicked off in 2011 alongside Just a consistently higher premium they Made me careful about silver and once Again it's not advice it's just simply The difference that I've come to Experience over the years between those Two metals both I would say were a good Way to save for me Silver simply had a Much higher acquisition cost that's due To premium and then a much slower Appreciation based on when I was buying And the price movement inside that time Frame so to the question of whether it's Worth buying gold and silver well it's Definitely been worth it to me with that Specific plan that I mentioned not Giving up investment capital in my Younger years not going crazy and not Rushing in every time the market panics And I think if you follow similar plans It could be a good thing for you too I Think that's an objective take just Clearing away all the popular noise of The hour just looking at it from the Perspective of what it has amounted to Versus the effort it took to get there And hopefully that helps I don't have

Anything to gain either way but I just Know how nice it is to be able to get The perspective from somebody who's been At it for a while before you come in So let's call it good theory I know some Of you out there have been at this a lot Longer than I have we'd love to hear From you and if you're new well let us Know if anything has been different for You it'd be good to get a few more Angles so hit us up in the comments and Then while you're there be sure to hit The like button if you found any of this Interesting be sure you're subscribed With notifications turned on if you'd Like to see more on the topic and if You're still here thanks again for Watching I always appreciate your time Take care [Music] Foreign [Music]