This is my entry into the silver forum writing competition.
I’m a newbie to precious metals but one of the first things I learned was the importance of research, patience and understanding in this volatile market and the nature of metals. It’s not a get rich scheme like so many of us new folk can like to envision of such things. Like buy some gold or silver today and sell it for more next week. There’s risks involved that if you’re not careful will reach deep into your pockets and leave a nasty taste in your mouth.
A healthy amount of distrust as well as common sense will help keep you safe in this market, for not everything that glitters is gold or silver for that matter, there’s lots of fake metal bars out there on the likes of Ebay say with home pored silver bars.
As someone very new to all this it can be very intimidating to say the least, and quite often we can feel foolish and dumb not knowing the most simplest of things. But don’t be afraid and let that stop you asking questions of what I will call the elders of metal stacking/collecting and investing. They will have a lot to teach us fresh faced stackers and investors that will help guide and keep you safer.
For me getting involved in metals is a long term and I don’t like to use the word investment but it is in a way, an investment into the future. It can also be used as a way to hedge against the loss of value in fiat currencies and in so doing protect our future selves.
Thinking long term in the last 20 years:
Silver has risen - 252%
Gold has risen - 458%
Platinum has risen - 120%
My advice to everyone new is just these words: practice self-control, be thoughtful, be careful and most of all just be patient, for gold, silver and the rest have been around for thousands of years and they’ll be around a few more too.