autogeekonline car wax, car care and auto detailing forum Autogeek on TV
car wax, car care and auto detailing forumAutogeekonline autogeekonline car wax, car care and auto detailing forum HomeForumBlogAutogeek.net StoreDetailing Classes with Mike PhillipsGalleryDetailing How To's
 

» Detailing Classes

New Dates Available for the Autogeek Roadshow!
Page 1 of 4 1234 LastLast
Results 1 to 10 of 34
  1. #1
    Senior Member Calendyr's Avatar
    Join Date
    Jun 2013
    Location
    Montreal, Quebec
    Posts
    3,907
    Post Thanks / Like

    Precious metal investing

    Hey guys,

    how are you all doing during the down season?

    I have been in vacation for the last 2 weeks and I am loving it

    I decided to take a real estate investing course this winter and start building a rental property investment during the downtime for detailing.

    My goal is 66 doors, and I expect to be able to do that within about 5 years.

    I also started investing in precious metals as a hobby, and I am converting my emergency funds into physical silver right now.

    If you are interested in that subject or are curious about it, here is a video I posted yesterday on a new youtube channel I created :

    If you feel like it, have a look, comment on it, subscribe and give a thumb up or down. All these will help me.

    I copied the style of the other youtubers doing silver stacking videos. I don't know if that is something people will enjoy, I like it but I don't think the same way most people do... so any advice would be welcome.

  2. #2
    Senior Member dcjredline's Avatar
    Join Date
    Mar 2012
    Location
    Upstate NY
    Posts
    3,203
    Post Thanks / Like

    Re: Precious metal investing

    Real Estate is a great idea, metals not so much. If you just like shiny things and enjoy displaying them thats cool but dont replace an emergency fund with gold/silver bars man!!! REALLY BAD investment over the long haul. Then there is the matter of them being "Valuable if the economy collapses" FALSE. If the economy collapses things like FOOD and WATER will be more valuable.
    "Dirt likes detergent so much better than the surface that it's attached to, it'll leave that surface to go hang out with the soap"...aim4squirrels

  3. #3
    Senior Member Calendyr's Avatar
    Join Date
    Jun 2013
    Location
    Montreal, Quebec
    Posts
    3,907
    Post Thanks / Like

    Re: Precious metal investing

    Quote Originally Posted by dcjredline View Post
    Real Estate is a great idea, metals not so much. If you just like shiny things and enjoy displaying them thats cool but dont replace an emergency fund with gold/silver bars man!!! REALLY BAD investment over the long haul. Then there is the matter of them being "Valuable if the economy collapses" FALSE. If the economy collapses things like FOOD and WATER will be more valuable.
    What makes you say it's a bad way to keep emergency funds? If you leave it in the bank, you loose 2 to 3% per year in inflation. Metals keep up and outperform inflation slightly. And are super liquid. I can go to my local metal dealer today and sell everything I have. The only downside to physical metals is that when you purchase it you pay a premium, which is the store's commission. That varies from 2% to about 15% on the stuff I am interested in. So if I was to seel immediatelly after purchasing, I would have a loss. This is not exclusive to metals, mutual funds have the same issue, stocks as well.

    And yes, real estate is the ticket. I cannot wait to finish my training and get started.

  4. #4
    Super Moderator Bobby B.'s Avatar
    Join Date
    Sep 2009
    Posts
    2,006
    Post Thanks / Like

    Re: Precious metal investing

    Very cool! I just started collecting poured silver pieces in October just before Halloween. I'm not really doing this as an investment, but more as a hobby for me and my son. I know I pay a high premium for poured silver, but I like custom unique pieces and limited edition numbered pieces.

    I appreciate coins and the artwork that goes into them, but haven't purchased any coins yet. I don't know enough about coins to start collecting them. I was going to go up to Orlando last weekend for the FUN show and figured I would just wait until next year when I have some more knowledge about coins.

    I fallow a bunch of pour artist on Instagram and it's just amazing to see what they can create out of Silver & Gold. I hope to purchase at least 1 or 2 Gold pieces this year for my collection.

    Good luck!

  5. #5
    Senior Member
    Join Date
    Jul 2017
    Posts
    284
    Post Thanks / Like

    Re: Precious metal investing

    Quote Originally Posted by Calendyr View Post
    What makes you say it's a bad way to keep emergency funds? If you leave it in the bank, you loose 2 to 3% per year in inflation. Metals keep up and outperform inflation slightly. And are super liquid. I can go to my local metal dealer today and sell everything I have. The only downside to physical metals is that when you purchase it you pay a premium, which is the store's commission. That varies from 2% to about 15% on the stuff I am interested in. So if I was to seel immediatelly after purchasing, I would have a loss. This is not exclusive to metals, mutual funds have the same issue, stocks as well.

    And yes, real estate is the ticket. I cannot wait to finish my training and get started.
    You can get a CD at 2% and itís a much safer and liquid investment than precious metals. And decent mutual funds cost zero dollars to buy and sell... regardless of how long you hold them. Only front loaded funds would lead to a loss if sold quickly, and frankly, if you buy a front loaded fund, you got suckered.

    I do like your real estate strategy though! Keep working on that one!


    Sent from my iPhone using AGOnline

  6. Likes custmsprty liked this post
  7. #6
    Senior Member Calendyr's Avatar
    Join Date
    Jun 2013
    Location
    Montreal, Quebec
    Posts
    3,907
    Post Thanks / Like

    Re: Precious metal investing

    Quote Originally Posted by Bobby B. View Post
    Very cool! I just started collecting poured silver pieces in October just before Halloween. I'm not really doing this as an investment, but more as a hobby for me and my son. I know I pay a high premium for poured silver, but I like custom unique pieces and limited edition numbered pieces.

    I appreciate coins and the artwork that goes into them, but haven't purchased any coins yet. I don't know enough about coins to start collecting them. I was going to go up to Orlando last weekend for the FUN show and figured I would just wait until next year when I have some more knowledge about coins.

    I fallow a bunch of pour artist on Instagram and it's just amazing to see what they can create out of Silver & Gold. I hope to purchase at least 1 or 2 Gold pieces this year for my collection.

    Good luck!
    There is a youtube channel where the guy pours silver during a live stream, if memory serves the channel name is Silvers Dragons. I watched 2 of those live pours and it's very tempting to purchase one Not as an investment but just for the cool aspect of it

    For coins, you have to decide if you want to be a stacker (buy the coins and bars for the metal value) or a collector (buy in the hope the items will become wanted and increase in value) or a mix of the two. My next video touches on that a little bit. Me, I am a stacker but I am also making a collection of bullion coins with no collector value. It allows me to make a hobby out of the investing. Loose a little bit of money doing that, the coins usually cost 2 to 5$ more than an equivalent bar, but that's ok, I get a lot of fun doing it so I don't mind the expense.

    Can you give me the links to the artists you follow on Instagram?

    I plan to get into gold this year too. I think I will start with a 1/4 ounce Maple Leaf.... will see

  8. #7
    Senior Member Calendyr's Avatar
    Join Date
    Jun 2013
    Location
    Montreal, Quebec
    Posts
    3,907
    Post Thanks / Like

    Re: Precious metal investing

    Quote Originally Posted by jdgamble View Post
    You can get a CD at 2% and it’s a much safer and liquid investment than precious metals. And decent mutual funds cost zero dollars to buy and sell... regardless of how long you hold them. Only front loaded funds would lead to a loss if sold quickly, and frankly, if you buy a front loaded fund, you got suckered.

    I do like your real estate strategy though! Keep working on that one!


    Sent from my iPhone using AGOnline
    That's true. Mutual funds have management fees though, and it is very possible to loose money even if the market is up because of it.

    Precious metals are not for everyone. I like them but can totally understand why you might not.

  9. #8
    Senior Member 57Rambler's Avatar
    Join Date
    May 2019
    Location
    Columbus, OH
    Posts
    520
    Post Thanks / Like

    Re: Precious metal investing

    Ask the Hunt brothers about investing in silver ...

  10. Likes rlmccarty2000 liked this post
  11. #9
    Senior Member
    Join Date
    Jul 2017
    Posts
    284
    Post Thanks / Like

    Re: Precious metal investing

    Quote Originally Posted by Calendyr View Post
    That's true. Mutual funds have management fees though, and it is very possible to loose money even if the market is up because of it.

    Precious metals are not for everyone. I like them but can totally understand why you might not.
    Iím an index fund investor. I pay basically zero management fees. Fidelity actually has zero fee funds. They track the indexes exactly. Vanguard is about 0.03%.

    For a hobby, I get what youíre doing. I used to collect coins and I liked them.

    For an investment, not so much. There are many better options.


    Sent from my iPhone using AGOnline

  12. Likes dcjredline liked this post
  13. #10
    Senior Member AV8R's Avatar
    Join Date
    Apr 2010
    Posts
    124
    Post Thanks / Like

    Re: Precious metal investing

    Stop listening to Fox news on sirius! lol

Page 1 of 4 1234 LastLast

Similar Threads

  1. My Precious
    By Mike Phillips in forum Ask Mike Phillips your detailing questions!
    Replies: 13
    Last Post: 09-17-2019, 07:12 PM
  2. Investing in Paint Reading Guage
    By maestrodetailer in forum Auto Detailing 101
    Replies: 1
    Last Post: 08-27-2016, 10:11 PM
  3. Replies: 8
    Last Post: 04-08-2013, 04:22 PM
  4. My Precious
    By Dubbin1 in forum Off-Topic
    Replies: 27
    Last Post: 06-28-2011, 01:41 PM

Members who have read this thread: 75

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

» July 2020

S M T W T F S
282930 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1