To expand on this excellent explanation: Do not buy diamonds.
Due to the DeBeers cartel, diamonds are expensive to buy but kind of worthless because there’s a giant stockpile of them.
e.g. you can buy a $1000 diamond then try to sell it back and be offered $200. The price is artificial because not only are they not that rare now, but we cn make them bigger, better and in any colour we like.
Which means DeBeers is trying to persuade everyone that natural diamonds, mined the old fashioned way with slave labour or giant, ecosystem wrecking dredgers, are ‘better’.
Anyway, Silver is also a weird one: It’s too stable. You buy a bar for $5 back in 1995, and now it’s worth $5, accounting for inflation. It doesn’t really lose or accrue value that much.
OK at this point you should know that:
1: I’m not a professional: This is not my field.
2: This is my opinion and if you’re intruiged, you should absolutely research the hell out of this
Ok that caveat done, this is where I’m going with this:
… Gold’s value is based on how much people are panic buying it. Republicans are always having A Moment and panic buying gold bars, pushing the price up.
Meaning the price is somewhat of a bubble, and there’s a point where it’ll burst and a lot of people will panic sell and drive the price into the ground.
This means that Silver is probably your best bet because the value won’t change very much, and there’s not a weird hyperinflation bubble happening, unless you want to speculate n the value of gold, which is a horribly high buy-in price, and you might not sell fast enough to avoid losing your shirt.
Bullion of any type is also partially scammy.
You can buy a plain bar with a little markup over the metal ‘sscrap’ price for the cost of processing (Casting a bar, assaying, certifying, packing, posting, someone’s profit…) and you will take a small loss when you sell.
But what you don’t want is the ‘collectable’ bars with buffalos or naked ladies or enamel painted eagles on.
I mean if you want one just because it’d make you happy, absolutely - I knew a guy who had a 1kg silver bar as a paperweight just to troll people who assumed it was fake. And I have a small 1 troy ounce bar I keep as a fidget toy.
The resale value of a ‘collectible’ bullion bar is… about the same as a plain bullion bar, so any extra you paid is a loss. Unless you can find someone who desperately wants to collect that set (Which is possible in the same way as winning the lottery is possible: It is, but you won’t).
Coins are also… eh. Actual real coins are a whole different thing. A lot of bullion comes in ‘Rounds’ - It’s fake coins. Bullion bars in disks to look like coins. They’re not legal tender, they’re just precious metals that are the equivalent of monopoly money.
You cannot spend them any more than you can spend a bullion bar, or a hallmark ceramic cupid.
There is a vested interest on the vendor’s behalf for you to believe that because they are circular and maybe have an eagle on, or a portrait of Trump, that they’re somehow worth more than the metal in them. They aren’t.
Bullion is very often sold as 999.0 fine. That’s 99.9 per-CENT pure. or 999 Per MILLE - It’s measured in parts per thousand.
This is an example of a bar that’s been damaged by handling - It’s mine, the one I bought to just hold and enjoy.
Handling isn’t just a cosmetic issue - It wears the bar down over time so it’s no longer 1 troy ounce exactly. Another thing you should watch for when buying.
A bar that hasn’t been handled will look more or less untouched, and be in a plastic case or bag. If it’s dirty or scratched and scuffed, it’s been someone’s play thing or possibly fake.
Beware of voins and bars that have soemthing in the description that admits that it’s impure - Fine Jewellry Silver? OK it’s mixed with Zinc to make it harder. Weird descriptions that make it sound like an SNL skit:
“Is it pure silver?”
‘It’s FREEDOM™ silver, and that’s BETTER! Look for the eagle stamp’
“So it’s like… 999.99 pm pure?”
‘FREEDOM™ silver is certified by the Trump Foundation!’
“OK but it’s pure silver.”
'Right but what’s the purity?’
“It’s 100% (shipped in) America FREEDOM™ silver!”
… it’s aluminium plated in silver that will rub off. There’s a lot of listing son non-bullion speciality sites doing this.
Or cheap “Chinese” bullion with zodiac stamps which won’t tell you the purity.
There are also a lot of Bullion sites buying and selling, who are… mmm let’s say they’re in the Trump school of economics.
The easy way to see who’s doing what is to Google for bullion live prices then compare to see if the market’s showing the same on multiple different sites like the Royal Mint.
Remember: If the price is too good to be true, read the small print, check the purity and the actual weight.
For example I left the bar on the left in my pocket and it shrank in the wash…
OK it’s a comically small but still very real bullion bar in its case. That’s what silver looks like when some asshole hasn’t been fondling it for years.
However, if someone did some creative photography and put that up, you might assume it’s a full size bar and miss that it’s small enough to fit in your ear. You think you’re getting ten big bars and… you’re getting ten chips, that have the value of about half a One Troy Ounce bar.
They are however very cool little novelties to give people. Now you know.
Anyway, unlike the metal I’m not precious. This is all my opinion. If someone (Looking at you @shymikka, if it would please you?) feels like explaining any parts that are wrong, dangerous or misleading DO IT.
Please. I do NOT want to steer someone wrong because they thought column inches = expertise.
baratheonpilled
2087
vaporwave
amandla
titsay
andulkaphoto
s-u-f-j-a-n-s-t-e-v-e-n-s
gracieabrams
