Originally Posted by Spartikis Originally Posted by

Well guys its been a wild ride but I'm moving out of the precious metals game. I've been stacking precious metals for over a decade, both when the prices were high and when they were low, always waiting for these hunks of metal to "go to the moon". For years I read articles about how hyperinflation was looming just around the corner, likely to kick in later this year or next at the latest! Funny to look at those articles/posts from back then.



I got into PMs back when I was young, had little financial knowledge and bought into the lies, mainly from watching YouTube videos made by people who wear tinfoil hats and articles written by companies trying to sell me PMs. Sadly that ignorance cost me thousands of dollars, the only positive is I was young enough I didn't have all that much money to invest so my losses were minimal, in comparison to my net worth.



Over the last decade I've watched as the stock market doubled in value, I passed on investment opportunities because I thought PMs were the only sound investment. Two years ago I sold a portion of my stack to help pay off my house, I took a loss but it was worth being debt in a short time span.



I guess it took awhile for it to set in that investing in PM was a terrible investment, if you can even call it that. its like being on a sinking ship, you're in denial at first, but eventually you are presented with a choice, stay on the ship and likely drown with the others or grab a life vest jump off and start swimming towards the nearest land.



I found it interesting how difficult it was to sell PMs for a fair price, I called a dozen coin shops in my area and not a single one was paying above spot for Eagle and maples, some as much as $2 below spot, needless to say I was baffled, I was always told to pay the extra premium as you would get it back when selling, BS! I got closer to spot on the 90% junk silver. I took the biggest hit on the US Mint anniversary coin sets, every single set except the 2011 25st anniversary set lost nearly half its value, cool looking coins but a kick in the pants when it comes to an investment.



And one last thought...my parents retired recently and moved to a wealthy gated community in Florida and I've had the luxury to visit quite often. While there I've met dozens of millionaires and one thing I found interesting was not one single person said they got rich investing in precious metals. In fact most laughed at the idea of PMs even being considered an investment. IMO PMs are fun to dabble in but are no substitute for real wealth producing assets such as dividend paying stocks, a 401k, IRA, mutual fund, rental properties, investing in a small business, sources of passive income, etc...



If only I could tell the 22 year old version of me to max out his 401k instead of investing in coins.



Farewell!



Spartikis