What's up YouTube Silver dragons here And today I am joined by Sean Reynolds The customer service manager at bullion Max welcome back Sean hey it's great to Be here it's great to have you I'm Really excited for this video because We're talking about the right time to Purchase precious metals and dollar cost Averaging and all those things so let me Just ask you right out the gate when is The right time to buy silver and gold There's only one answer for that 20 Years ago and today True that right Absolutely I mean let's face it if you Bought outside the year 2000 and you Held it holy guacamole you got a great Return on uh on your investment and That's where the long game is ideal it's Your best friend in in Precious Metals It's not for flipping it would be great To buy it and never have to trade it Sell it give it away whatever okay but You did buy it for a reason and Hopefully that reason is either for Protection for yourself your family Um as an investment to to buy and hold Maybe it's going to become a down Payment for a house who knows but it's Important that you acquire your medals In an affordable way yeah for sure you Know I had someone just recently ask me Uh it was like a few days ago they said Should I buy right now or should I wait
A few months and kind of see what Happens and I was like Um if it were me I would would buy right Now and also buy in a few months right Because we don't exactly know I mean I Don't have a crystal ball we think maybe It'll go up or down but we're all just Guessing at the end of the day right That's right you know and Um Today might be the best price it's going To be going forward we we don't know but Then again if it does fall okay as long As you don't cash out you don't realize A loss you got a loss on paper okay but That's where buying a hold comes in Because if you don't sell quickly when It dips down you don't get that loss but If you hold it through a couple of Upcycles now you're making money again That's that's why time is so important To uh to doing that Um I think for people who are just Really sitting on the fence and Grappling with that idea That's a good time to maybe spend half Of what your budget was going to be Because if it goes down you'll be glad That you just spent half of what your Budget was and now you can make a Purchase at the lower amount If it goes up you go well thank God I Bought some because I got that at the Lower rate and now I'll make the the
Rest of my purchase you know there are All kinds of strategies like that that You can employ that help with your Dollar cost averaging which uh how would You define that I know a lot of people Think about the term and think they Might have a feeling for what it means But how would you define that well There's two ways to do it you could Either spend the same amount every other Week or every month or you could buy the Same amount of medals uh for example you Buy 20 ounces every week or every month Or whatever your budget is but you have Consistency it's slow and steady wins The race so a lot of people they just Buy every paycheck they'll put it in Their budget and they say okay I already Know 250 dollars is going to Silver and Either I'll get 10 ounces or I'll get Nine or whatever maybe I'll get 11 Ounces I don't know but that's what I'm Spending so I think it's just slow and Steady and I I really do think that's The best strategy yeah and I hear from a Lot of people first of the month You know this is when I buy my my 10 Ounce silver bar and that's all they buy But you're right it's a reasonably Priced order it's something they would Be able to do each and every time so There's not a reason not to do it And so yeah slow and steady most Definitely try not to to buy so little
That you're ever paying for shipping You're probably better off to to save up Until you've got more than that 199 Dollars so that at least you're putting All your money toward metal so sometimes Waiting just a little longer you know Since you're what you're trying to buy Is metal well buy just metal don't pay For shipping you certainly never want to Pay for shipping that that's a wonderful Point I would say you know when I first Started stacking I had such a small Budget that I would save up for a week And only be able to buy one ounce and so For me what my strategy was I would just Go down to the local coin shop literally Buy one ounce because that's the only Way you can really do it effectively and Like you said not have to pay for Shipping Um but yeah a lot of people don't have a Local coin shop near them or maybe their Prices are pretty whack and so they Prefer to buy online and so yeah you got To save up for at least that that 200 Bucks or whatever it is going to be in The future I mean who knows that how Long it'll stay 200 I remember when it Was just a hundred bucks for most of the Dealers and those days are long gone Yeah yeah you know inflation like Everything else Um I have a a collection or it's one Customer but there are three women who
Pull their resources and make regular Orders so that they always can can beat The shipping amount but there are times When they Place some pretty significant Orders either because we had some unique Products that they were interested in or Other times it was just you know just Enough to meet the minimum but I would Say they order twice a week wow and oh And they always pay by check that is the Way either uh ACH E-Check or physical Check uh so you don't have to pay those Additional fees no one wants to pay the PayPal or credit card fees that's just It's terrible Yeah it is and what's most important is Getting that lock on the price because When you do place your order and you're Going to send this payment separately or You're going to set up an ACH payment What's most important for you to know is The price is locked but we're also Setting aside the inventory for you so Don't worry about how long it might take For a check to arrive because they Always show up eventually no big deal But at least your price is locked you're Going to get your stuff and uh and like I said we've set aside your inventory as Well so if you ever get an order placed And we haven't received your check yet And you see that something is sold out We still have yours it may look like It's sold out but it sold out for new
Orders not for you that's actually more Set aside so yeah that's awesome that You guys do that let me ask you this Sean is there ever a bad time to Purchase precious metals that's a really Good question because we already talked About the crystal ball and the not Knowing so I think where the market is Is not a reason not to buy Where I think some people make mistakes In purchasing precious metals is perhaps Taking successful stocks Cashing them out and buying metals and Expecting this amazing performance I Think you're most effectively purchasing Precious metals when you've got extra Dollars hanging out So maybe in a savings account or maybe In your checking account where there's Still it's it's paper money but it's Just stored away somewhere okay that's That's a great source of funds for Purchasing precious metals because the Last thing I would want to do is hear About somebody who got in so deep that Almost as soon as they received their Delivery they have to cash out because They cut themselves to the quick there It's like they heard about metals and They just bought into the message a Little too strongly I think you can Overdo it given your family budget and All the other responsibilities that you Have
Um I think you need to make sure that You still meet those responsibilities And don't jeopardize those things but Otherwise anything extra you have yeah That's that's where those funds really Ought to come from yeah that's a really Good point silver and gold they're not a Get rich quick scheme and additionally Your other point if you buy and then Have to sell immediately or within a few Days you're basically always going to Lose money because of the premium so you Really want to hold it for as long as You can hopefully decades that's best Case scenario and that's where you're Going to see the real returns I think Absolutely it's it's kind of like the Best time to buy joke you know 20 years Ago oh okay so that's that's hindsight But my goodness what a great story it Tells so maybe today is the day to set Up the next 20 years who knows yeah That's crazy to think about all right Well hey we really appreciate your Thoughts Sean always good to hear from You and uh we look forward to having you Uh on again in the future sounds great
