Quote:
Originally Posted by FlyingScot
You answered the more important question--silver is a high risk asset. It should not be a large % of anyone's portfolio (unless they are a professional)
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The Silver Story.
A local independent semi-retired -mostly - contractor.
2010 - 2012
He listened to certain radio programs. Viewed certain national news programs.
And they convinced him that the dollar was going to collapse. That there was going to be anarchy in the streets. That the US dollar would no longer be accepted at stores. So he loaded up on dry goods and canned goods. Purchased an item to prevent people from entering his home.
Not having any excess money. He mortgaged his home for $100,000.
Searched all local dealers for silver coins. Traveled around the lakes region to jewelry/pawn/coin shops.
He bought silver dollars at around $34 - $37.00 per coin. A little lower/a little higher. Not any rare coins. Just ordinary regular silver dollars.
He died broke. He died of complications of Covid - as the same radio and TV folks convinced him that a vaccine is not needed and a plot by the govment.
But that story is for another posting.
The year he died - silver was hovering around $17.00 per ounce.