With the unpredictable times we live in every cent and choice is becoming important. I look at life as I have a 2 point lead I might have the lead but one slip and I could be struggling. Every detail in life matters these days
As I listen to how you talk about your LCS having tons of inventory and he isn't really selling too much, and buys keep coming in... that is why I am always a supporter of a couple different small business local coin shops.
I started as a collector 5 years ago. Turned into a stacker within first 6 months of collecting. Its the smartest financial move I've ever done. The metals will explode sooner or later. Either way, I will keep stacking for my enjoyment and especially for my grandkids future. In 10-15 years, theres no telling what the price of the metals or the state of society will be.
Silver will preserve your purchasing power, don’t expect more than that in the coming years. If silver commands $100 an oz, you can bet the cost of living has risen accordingly. This isn’t a bad thing, it just means silver, gold and precious metals have done their job.
Sorry but I don’t care if people aren’t buying! Has nothing to do with me. People are financially in pain so they are selling( not thinking) the herd is for the most part is usually wrong!
I think we are in for hard times as well....basically hard times are beginning now, imo. That said, over my way, the LCS is still doing more selling than buying. I think the differences will be different in every area for people in the US.
Stores that sell non-giftable items generally see fewer sales in the run up to the holiday season as many people are committed to buying gifts with their wages. Also,folks who went all in the recent dip may now need to play catch-up on items they skipped over purchasing, including holiday gifts.
I've backed off for three reasons. First, I got hit by a $14K home repair. Thankfully, I had the fiat in the safe for it. (Those that don't keep a good stack of cash handy are crazy, imho. Stack some cash first, then get your bullion.) Second, the holidays are coming and we're hosting some family from outside the US so we'll be spending a lot more on gifts this year. Lastly, the dip is not a distant memory. It's fresh in the mind. I have a hard time buying the same ounce of gold for close to $2K when it was $150 less just a few weeks back.
people dont have alot of extra money because of bidenomics, and i wonder if he charge alot more than online dealers. for instance my local lcs sells generics for 30 and ounce for buffaloes. imho
It's the holiday season preparation. Plus, Americans are being hit by the current administration's policies and inflation. We will still find a way to stack even if we need to trim it. ❤
Geez, maybe the holidays are coming up... Thanksgiving and Christmas travel plans need to be made and paid for... presents are starting to be purchased... and for some New Years plans are being made... I wouldn't buy silver either if I had all that coming up!
People CAN choose not to waste any money on fruitless/useless items or NYE. If people want to get metals, they will and not waste that cash on other wasteless items.
Premiums are keeping buyers away, plain and simple. If you purchase silver from your LCS, you pay a high premium, if you’re selling silver, they’re paying spot, or slightly above. If housing is going down and unemployment is going up, bullion dealers and your local LCS’s will feel the pain, the same as Walmart, Costco and car dealers. No surprise there.
