I Sold My Gold & Silver For More Than $10,000...Why Precious Metals Are Worth Buying...
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- Опубликовано: 9 сен 2024
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I would love to have a secret door or cabinet where I open it up and I have tons of silver bars like that.
Nah I want a swimming pool full of gold coins and swim in it like Scrooge McDuck
Wise words Jeff and very mature. Its there when you need it and you can always start the journey again at any time, it never ends only continued love of these pieces never ends. Coin collecting/stacking is the best hobby you're literally saving money and enjoying it while you're doing it, fabulous. take care
My gold and silver stash helped me out 10 years ago when I was in a bad spot. I did not make a profit (also not too much of a loss) but man was I happy I had the stash when a financial disaster suddenly came along. So yeah, buy it with the intention to sell it for profit somewhere down the road, or as an insurance fot whatever may come. Like Jeff said, it's money you won't spend easily and is usually the last thing of value you have when you need to pay a bill your bank account won't cover. (as Jeff covered before there are more situations in which you may be happy to have some precious metals)
glad to hear that and Im ok with not making a profit or o some money on the investment as long as its there if I need it thats my main goal...most people rely on cash and they lose money to inflation most dont even know that or think about that lol so even cash in the bank wont see a profit :)
@@cutlerylover Very true! TBH I did not count inflation myself but you are completely right. Fortunately we are finally getting some interest on savings again, be it very low and in no way compensating for current inflation.
I don't like selling my metals, but I can't deny that having them has saved my bacon in the past. One June I had a car insurance payment and a property tax payment in the same month and then my fridge died. Thank goodness for my half ounce of gold!!
It's all eye candy to me until....it's not. I've not sold any but can understand how it can be painful. Thanks for sharing. 🙂
I don't buy knives planning on making a profit, but I do have a stack(s) of U.S. Mint Gold & Silver. Also, I bought a couple Copper rounds at my local Black Rifle Coffee dealer! One is a "Buffalo Nickle' & the other a Jab at the "Bit-Coin" market. The Bit Coin round is going to my nephew since he's invested in & mining it. Good job at making a profit & I agree that we can't take it with us, so use it when you need it.
Sadly, the dire economic conditions now and worse coming will necessitate many doing this same thing
its a catch 22 becasue when things get bad is when I want morte of this stuff, but it is what it is for now...
man this breaks my heart jeff,you are going back to that paycheck to paycheck feeling! but i understand ya gotta do what ya gotta do.take care.
Jeff why has your income decreased so much? You've always seemed and sounded, and looked, like a capable person. It surprises me that you aren't as successful as you want to be (by the sounds of it).
well YT is my main income although I have other jobs and that in come has steadily decreased which is out of my control...many factors including content people want to see that cant be shown becasue of policy changes...
@@cutleryloverhave you considered putting the non YT friendly content on rumble?
@@infernoofawesome4112 yes but the problem is I have to be paid for my time and there's no money to be made on rumble its bad enough here already plus the viewership there is so weak in comparison...maybe one day well see...
@@cutlerylover I wasn't sure how it worked. I was thinking you could do sponsorships and stuff. I hope it works out for you cause I'd love to see you be able to make whatever videos you want
I’ll play devil’s advocate here. Buying a new 50,000 dollar truck and then having to sell “stuff” to pay off debt sounds like an unwise economic plan.
Actually my truck costs me almost the same as my previous SUV did thats why I uplgraded...better asset better in the winter have more storage for what I need but costs me the same price...A financial advisor would suggest selling it paying off debt and driving a rust bucket around wondering if it will die on you but that advisor also wouldn't want to commute with you to work lol so I keep a HIGH priority on reliable transportation so I can go make money for bills consistently...so from an outside view it may seem dumb but I care more about having reliable transportation than my toys or investments...Also its a timing issue some of the stuff im selling is worth more now so its a good time to sell whereas it maybe worth less in the future depending on demand...
I can’t remember your first new vehicle, maybe the Charger? All I’m saying is if that vehicle was something more sensible and reliable that you could drive for 10 or more years, you’d be way better off financially now.
@@cutleryloverA Toyota Carolla is just as reliable as your Tacoma and like half the price. Snow isnt an excuse either, I live in Canada out in the country where no plows go, good winter tires do wonders.
Your right about that you can always get gold and silver back. The thing is not to get yourself in debt in the first place. Try not to spend money you don't have. That's why I only spend cash on my play thing's time what not. So I can see the money leaving my wallet. Using a card and not writing down what you spent it on is much easier than pulling out CASH! especially big bills cash you will see that leaving than money in writing.
Nothing wrong with selling, especially to pay off interest bearing debt.
Jeff out of curiosity,and you may have answed in other videos,but what are tour other jobs ? I work in infrastructure,and i need a second job and need ideas,that can go with my schedule
We need to make this guys channel blow up again man… it’s so sad seein all the people I used to watch a lot growing up kinda fade away..
Fair play man, thats what its there for.
If anyone is unsure about long term value in precious metals ……..when I started collecting coins/rounds in 7th grade (1986) silver was around $3.85/oz and gold around $300ish/oz. It just keeps going up up up. It really is worth putting away and forgetting about it😎👍
Generally speaking, 5000 years ago, you could buy 300 loaves of bread for an ounce of gold. Today, you can buy 300 loaves of bread for an ounce of gold.
@@thingamujigger1585 thats not accurate...even at $4 a loaf which is expensive bread an ozt of gold can buy you 500 loaves and no one really knows how much bread you could have had 5000 years ago...lol I know what your saying but the value increases with time 5,000 year sago only rich people had gold common peopel uses silver or other forms of money
@cutlerylover "generally speaking"...point is that precious metals is real money. It is a preservation of wealth. The metals value or exchange rate for fiat has much less to do with the metal's worth increasing. The real reason for the increase in the metals is the decrease in the buying power of the fiat dollar. My comment had more to do with "principle" than "accuracy"....generally speaking.
After the pandemic and the riots started, I found firearms & ammunition is an awesome investment as well.
The last video I watched from you, you were selling as well. You mentioned buying with a credit card on promo with 0% interest. I hope things work out for you, been a long time viewer
thanks yes that line of credit will have interest in a few months which I refuse to pay lol thats part of the debt im paying off :) I had to throw 3k on there to make my truck deal happen...
Jeff I really think it is silly to trade silver to clear your debt. I would have just gotten another job and started to live more frugally and sold ANYTHING else.
You are gonna look back at this video for years to come as the metal prices go up and up seeing how much you could have profited.
I am buying gold right now. Seems massively undervalued. DCA'ing into crypto as well, but I expect it to drop a bit more before it starts pumping again.
I hope you're working on getting that income up because by your own admission you're heading the wrong direction. Income should always increase with age. Don't know if you ever listened to Dave Ramsey but he preaches the simple method of cut expenses and raise your income to get out of debt. It's simple but not easy. Then you can really start stacking.
yes ive been listening to Dave for years now but I dont agree with everything he has to say his way of thinking of outdated although the principles are still good...and yes ive been working on several new jobs in the last year to offset cost of living but its not as easy as hey Ill ujst make more money lol otherwise everyone would do it...location job opportunities cost of travel ect are all factors as to why some people just cant afford to live in an area and I do have to move eventually...
@@cutlerylover Where would you like to move? In a city?
Better off just buying stocks and etfs
It's good to have those and precious metals, never put all your eggs in one basket.
$2386 per ounce today.
what percentage of your income do you save/invest ?
Wow very nice coins ❤❤ ❤
I like dividend stocks because they pay me cash and I don't have to sell
if you had enough money to invest you can live off dividends :) I dont invest enough to make much difference so I invest in stocks I feel will double within a few years...
I personally don't like debt too.
Premiums make me sad lol
You would do better stacking cash and buying bonds/ buy S&P 500 would do better too
I would never stack too much cash even if I was rich...it just loses value, I do own a bond lol as in one just becasue but thats also a bad idea in my opnion...
What is this man's income? I'm guess mostly YT.
Debt freedom is wonderful and well worth the sacrifice.
Sounds like it’s time to get a job🤔
thanks but I have 4 jobs currently :)
He's pretty much always had a job since I found this channel. Not sure why you'd assume he's not a working man.
Hope you got out of USGO…..
Im still holding 10% of my USGO and if I sold today I would make a profit its in the green..but im not looking to sell right now I hold for the long term...