Bitcoin is surging past $70k, Gold is sitting at an all-time high of about $2200 per ounce and I’m buying silver? Come on man, chase the action. Everyone’s doing it! Well I wouldn’t be The Anarchist Investor if I was going along with the crowd. So this weekend, I bought more silver.
Investors vs Gamblers
FOMO abounds right now. Lots of folks are chasing action in Crypto, Gold, and AI stocks. There are promises of riches beyond their comprehension. One YouTube title I saw today was, “Bitcoin is Parabolic, Make Millions”. In 20 years of investing in a multitude of markets, I know when someone is making statements like that, it’s time to take profit…not buy more. Gamblers chase the action. Investors use time to make money.
The irony of the call to action to “Make Millions” right now is that the millions were made when everyone was sleeping on Bitcoin, Gold, AI stocks, etc. The millions were made if you were stacking Bitcoin all along when it was at $40k. The millions were made if you were stacking Gold at $1700 per ounce. When everyone is piling into something, the real money is made where everyone currently isn’t. That’s why I’m stacking silver and looking to take profit on the Gold and Bitcoin I’ve already accumulated when the hoopla was much less.
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Garden State Gold & Coin
Pro tip: call around to coin shops and dealers to see what their pricing is. The online premiums were about $2.50 per ounce for larger orders. I was looking to pickup some silver rounds and some of the premiums were quite high at the local shops too. One shop told me the best bet was to buy 10 ounce gold bars and quoted me $28 per ounce. That would’ve been an approximate $3.50 premium from Friday’s closing price.
When I called Matt at Garden State Gold & Coin, he offered me quite the deal. I knew I was done calling around at that point. The shop is quaint and nicely put together. I brought the family with me so we all piled in and I had a momentary heart attack when my youngest bumped into a vertical, glass display case in the front window. After that crisis was averted, I was able to introduce myself to Matt and get down to business. He had a few eagles but the deal he offered me was for these:
The tubes of these that he had are in pristine condition. They commemorate the Canadian special forces brigade that fought during World War II. I’m an anti-war guy but history is history and this was an incredible deal. I won’t divulge exactly what I paid for them but I can assure you they were a much better price than $3.50 over spot per ounce. I am very happy with this purchase and I’ll probably hold on to these for a long time. Matt specifically instructed me to “sell these last”.
Garden State Gold & Coin is in the middle of Boonton, NJ which is a thriving community. Much of Morris County has become built up and expensive and Boonton is reaping the rewards of people and businesses looking for a slightly lower cost home in which to setup. In fact, there are several really nice coffee and nick nack shops along the main drag. Matt recommended one a couple store fronts away.
Java Smugglers
Java Smugglers Cafe and Health Bar has a cool vibe. Their coffee is very high quality and the interior of the shop has an awesome personality. The coffee itself is either stored or finished in bourbon barrels. When you drink it, you feel like you’re having a boozy drink without any of the negative effects. My wife and I shared a mocha that was incredible. The price of the coffee was also very competitive compared to other boutique cafe’s and Starbucks. I can’t recommend this place enough. I’m certain visiting Java Smugglers after trips to Garden State Gold & Coin will be a regular outing for us.
Silver
Silver right now is in a trading range between $20.50 and $26.50. It’s a huge consolidation dating back to the end of 2022. There’s no guarantee it’s going to brake above $26.40 and resume rallying. However, as addressed in prior articles, I feel like we’re headed towards a 5-10 year period of economic malaise in the US. This will see elevated inflation along with sluggish economic growth. This meets the textbook definition of stagflation. Under that scenario, commodities and specifically precious metals do exceptionally well. The dollar and other risk assets that won’t be able to retain their pricing power will suffer. Boring old silver may become one of the darlings of the investment world again.
PS - after the Great Financial Crisis, Gold was the first precious metal to rally. But in the two years after that, Silver kicked its’ butt. True story!
Conclusion
The money is made before the rally when you’re investing in things that the masses aren’t looking at right now. When the excitement comes, it gives you an easy way to realize your profit and start stacking the current thing that is unloved.
And if you’re ever in the Morris County, NJ area, hit up Garden State Gold & Coin and Java Smugglers!
Get something out of this article? Awesome! Please let me know in the comments, and feel free to share this post with your friends. It would help a lot!
****Keep in mind that investment and investment results are very much based on you as an individual. I am not an investment advisor. I’m a dude with an opinion. Do not rely solely on the discussion here to inform your investment decisions. Always make the investment decisions that are right for you and your situation****