this silver coin cost me about 90 dollars (6 dollars delivery from shop to me, 70 dollars price of silver, and about 14 dollars delivery from Britain and production cost).
Still, this was one of cheapest silver. Silver bars are actually higher in price per gram. this is 31.1 grams coin, so about less than 3 dollars per gram.
After seeing a recent rise in prices of silver, and then a drop, I realized I should take advantage of drop in price before prices rise again, and I have some extra money, so I bought this.
Now, if silver drops more in price, I will buy more of it.
this silver coin maybe is worth 90$ now, but in future that value is projected to increase to at least 900$ after 20 years. this is a long term investment.
I admit I was also offered Australian kangaroo coin which was 30$ dollars cheaper than this one, however, if I am going to make my first investment in silver coins, I would rather not start with Australia.
Also, this isnt me bragging about my wealth. this is reality.
Have you calculated what your $900 gains from you silver investment will be worth in 20 years?
Silver is predicted to increase 10x every 20 years, similar to gold. So after 40 years, that means 100x return.
this is very sufficient to defeat inflation, because silver and gold increase in price faster than many other products do.
If I left my 90$ as they are and didnt invest, after 40 years I would have 90$, but they would also be reduced by inflation.
I also plan to expand investment in crypto currency, investing in multiple crypto to see if any will skyrocket after 20 years.
But I also invest in jewelry, and hand made jewelry which isnt from rare metals, but is still valuable, as well as jewelry from anime.
If there is any investment strategy I prefer, it is diversity.
Jewellery can be an investment, but it is generally considered a
risky, long-term asset rather than a liquid financial instrument like stocks or bonds. For most people, new jewellery is a lifestyle or emotional purchase with high retail markups, meaning it often loses value immediately after purchase.
I agree about jewelry being risky, but not really when we talk of long term. All my investments are long term. I dont do short term investment, nor see the point in it.
You want to be rich when you are still young and not when you are retired and too old to enjoy it.
You want to be rich when you are still young
Investments take time. My parents worked for over 30 years and they have nothing in life because honest work doesnt pay off, investment does.
Warren Buffett's advice on work and investing centers on
long-term value, understanding what you own, investing in yourself, living frugally, and patience, emphasizing that work fuels investment, but smart investing makes money work for you, focusing on durable businesses, not fleeting trends, and that risk stems from ignorance, not volatility. He stresses buying solid businesses with competitive advantages, using low-cost index funds if you don't enjoy stock picking, and always prioritizing understanding over speculation.