Gold and Silver
Never able, so it seemed, to keep a balance in my check book and needing something that I knew I would hold onto, a number of years ago, from a local dealer, I purchased ‘one’, ‘one ounce’ "American Eagle". And as years went on, with my thought of owning one pound of gold, over ‘many’ years I purchased, one at a time, "American Eagles", "Canadian Maple Leafs" and "German Krugerrands".
In time my lady friend, whom is now my wife, had a financial problem so I sold fourteen of my 16 ounces of gold ( at a nice profit) and kept Two of the "Eagles".
At that time I thought that I would rather own silver so, having enough money left over after helping my then girlfriend, at $11.00 an ounce, I bought 300 silver "rounds" that, by the way, contain 99.9% silver.
Every now and then when the silver prices dropped, if I had a few extra dollars I would buy another ten silver rounds and now have a total of (Still have the two gold coins) 450 silver rounds that (along with the two Eagles) are kept in a bank vault…
Which actually, unless there is some historic value to that silver coin, the round contains 99.9% of silver whereas a silver dollar is still a dollar or, if taken to a dealer, because that silver dollar contains less silver than a silver round, it is less valuable than the round.
The “spot” cost of silver goes up or down proportionately with the “spot” cost of gold... When the market last closed on (early because of Good Friday) 4/9/20, the spot price of gold was at $1,689.60 an ounce and silver at $15.50...
No matter what the ads might say… Think about it! What the hell could you do with an American Eagle? Other than a “dealer”... who knows what the value of that coin is, and how much change to give you for that cart of groceries?
So, in my opinion… And it is ‘only’ my opinion, unless one has a lot of money to invest on something that they will be holding onto a long time, silver is a much better buy, and easier to use a ‘few’ in exchange for...?
