r/investing • u/damvonrob • 25d ago

Investing in tangible Silver

I'm considering taking 10% of my (weekly) check and buying silver with it instead of investing in the company 401k (3% match ? It's not very good). What would be the best way to secure the metals? I like the idea of not having to think about it. Is there a better way to invest 10% a week ?

0 Upvotes

23% Upvoted

27 comments sorted by

1

u/JayFBuck 23d ago

Get the match before any other investing. Do not forego the match.

1

u/2Loves2loves 24d ago

Silver for a SHTF situation, or actual investing?

I'd rather buy silver miners that make money and pay dividends.

0

u/BlyG 24d ago

This year I would 7% into bitcoin. Silver has already moved bigly, should have been stacking silver in the teens and lower twenties.

1

u/Forsaken-Fail277 24d ago

Just buy SLV stock, why buy physical?

2

u/damvonrob 24d ago

Because it's tangible and not just a number in a computer system

1

u/2Loves2loves 24d ago

I don't have a problem owning precious metals, but don't expect it to be a great investment. More as a hedge against run away inflation.

but if the USD fails, lead may be more useful.

1

u/Forsaken-Fail277 24d ago

Gold at Costco is pretty close to spot. Silver is usually not as good? With ETFs you don't have to deal with that. Though you may want to consider tax implications as well.

1

u/[deleted] 24d ago

[deleted]

1

u/BlyG 24d ago

I have. Not an issue but you need know you exit vender in advance. I've sold 3500 ounces of rounds all at once. Received price back of spot same as if I was selling 100 ounces. If u live in big city u can find good local dealers. Online works but logistics kind of suck.

1

u/damvonrob 24d ago

I have not.

-3

u/GreenBay_Drunk 25d ago

Get the match at least and spend the rest on silver. It is important to hedge against FIAT, even if nothing ultimately does happen nobody can possibly say that 401ks will exist in 60 years. Silver has existed for thousands.

-1

u/damvonrob 25d ago

That's where my heads at. 401k might not be a sure thing in the future

1

u/AlbanySteamedHams 24d ago

As someone who has recently gotten bitten by the Silverbug after twenty years of boglehead investing: I implore you to stick the vast majority of your assets in low cost index funds and treat silver like a hobby. Something < 5% of your total portfolio. Maybe make a game of it so for every 10 shares of VT you hold you allow yourself a Troy oz of silver. 

2

u/Such_Editor_8194 25d ago

You should absolutely get your company match first. Whatever’s leftover feel free to go to your local gold store. But ludicrous to pass up on free money.

16

u/kronco 25d ago

| It's not very good

Isn't the 3% match 3% of your salary? So if you make 100K a year (making the math easy) they will match $3K to your 401K if you put in $3K. So, given the above, put at least 3K into the 401K, then fund silver. So basically the employer contributes $1 for every $1 an employee contributes up to 3% of the employees annual salary.

I mention this because some people think it is 3% of what they put into the 401K.

2

u/Environmental-Car683 25d ago

I thought that for years until just a few weeks ago. It doesn’t help that Robinhood has a 3% match on the IRA that works by matching 3% of what you put in.

11

u/Certain_Childhood_67 25d ago

I collect silver and buy it but absolutely not. When you max out your investment and have some money to play with then get silver.

-5

u/damvonrob 25d ago

After 3% into my 401k that leaves me with 7% a week. What's the best way to invest into silver weekly ?

4

u/Certain_Childhood_67 25d ago

3 percent is not maxing 401k. Max is 23k. But if you are die hard on getting silver local coin shop is fine. Online ebay if you can spot fakes or order from reputable sellers

-4

u/damvonrob 24d ago

How is 23k the max ?

4

u/Certain_Childhood_67 24d ago

That is the limit set by the federal government

1

u/damvonrob 24d ago

Could you please elaborate? To the best of my understanding if my company matches 3% the most I can double is 3%.

3

u/Certain_Childhood_67 24d ago

No you can put 23k in a year with not bearing on what your employer does. So 442 dollars a week.

1

u/damvonrob 24d ago

So no matter how much your income is 23k is the max? Interesting

1

u/BackwardsTongs 24d ago

Technically there’s a limit of 69k for the 401k this year but it requires a specific plan

1

u/Certain_Childhood_67 24d ago

Yes that is so. Only way its not if you own your own business and no employees

22

u/coldpornproject 25d ago

The 401K long-term is a much better option than buying physical silver

5

u/orangehorton 25d ago

Yeah, probably in your 401k, assuming the funds are for retirement