Three mistakes most people make when buying silver. You've been warned!

hello everybody i am spectacular the silver stack today i want to go over three mistakes that you're probably going to make when it comes to stacking silver [Music] all right first i do want to say that i am spectacular as you can see right here hopefully you're doing okay and you know if the video brings you value at all if you are interested in the information you know subscribe thumbs up leave comments down below i would appreciate all that stuff share it if you have the time you know i want to talk about three mistakes and i know these mistakes really well because maybe i've made a few of them or all of them and i think some of you can probably leave a comment down below and let me know if you've actually made one of these mistakes too and you probably have because they're pretty common mistakes and so without further ado let's get right into the mistakes first i want to say paying too much that is mistake number one or uno depending on you know what you speak mistake number one paying too much what does that mean well you know i have poured silver right here in front of me this stuff tends to have a premium because it's more art than it is just bullion value but we can ignore this stuff because that has a different value collect collector's value so like morgan dollars peace dollars you know numismatic stuff that's totally different than actually stacking physical silver just bullion only and what do i mean like paying too much i mean like i've seen many comments on my videos of people giving really terrible advice saying you know first of all it doesn't matter what you pay for silver because the true value is x and whatever x is they might say 500 they might say a thousand dollars 200 100 whatever the case may be because they believe that at one point silver is going to go to those numbers and that aside let's go ahead and keep those beliefs to the side it's not there right now so if you pay a crazy amount uh over spot for just regular bullion what favor are you doing yourself because the lower that you can pay obviously the more you can get so you know you gotta shop around for this stuff and uh don't always go after the first deal don't trust the websites either that tend to have the only the best deals there's actually a lot of illegitimate sites out there and people send me messages and emails all the time uh giving me different links for websites that are just fly by night they just they're there today they buy some silver eagles there for what seems like a too good to be true price and it is that website is actually gone tomorrow so trust reliable sites um you know that i've always suggested uh the big boys and girls like at max jm bullion monument metals well provident metals is owned by jm bullion now sd bullion uh silver gold bull there's so many different ones out there that are legitimate sites but there's just way more illegitimate sites also be careful about buying from just people on the internet now i tend to sell some precious metals once in a while i feel like i'm a reliable source and no i'm not selling any of this stuff so i don't even ask um but you know like you have to be careful there's uh you know forums uh reddit communities um etc that have people that are selling precious metals that are just making accounts and trying to lure people in and you know selling stuff to people that's it can be dangerous it can be scary and they're asking for um payment sources where there's no guarantees and no protections on your end so they could just go ahead and just not send you anything and you paid them and and now there's nothing that can be done so you know be careful who you trust um but you know back to the point don't pay too much and don't take advice from the wrong people there's people out there that like i said you know say oh silver is going to the moon silver's going to a thousand and when you hear that you get antsy in your panties and you go out there and you start spending money like crazy because you believe that this stuff right here is going to the moon it doesn't make a lot of sense in my mind personally that it's going to go crazy you remember when they confiscated gold right the united states did they um you know said that you couldn't hold you know too much gold and and they needed it for their reserve blah blah you know that that occurred in united states history and if silver which is a super useful industrial metal the best conductor of heat and electricity out there and has so many different uses very much of this stuff is needed now for all these electric cars and solar panels etc etc i mean a lot of stuff even medicine for some uses with the silver and beyond that you know just so many things um if there is truly a silver shortage uh why would the government not step in and go hey listen no more hoarding this stuff we need it for our everyday lives otherwise we're not going to have computers solar panels battery-operated cars you know all this stuff they would stop you from buying it if there was a silver shortage so there's plenty of silver out there don't pay too much for it shop around but shop at the reliable places and if a deal seems too good to be true man just really really question what's going on many people never sell this stuff at or below spot every now and then you can get at spot deals those are becoming more and more rare but below spot there's not a lot of people do that not a lot of people every now and then one of us or two of us uh you know like on youtube or something like that do it for fun on our channels just as a way to you know kind of build our name but it's not like you're gonna go buy a hundred ounces you know for less than spot um okay so that's mistake number one paying too much that's an obvious one but so many people make that mistake they send me emails saying hey spectacular i went to this website and it's gone today what's going on you know just be very careful out there be very careful okay next is buying too much silver whoa you can buy too much silver well i think of silver as like the change you know uh when you're talking about money um the dollar bills that's that's the big stuff and then your quarters your nickels your dimes those are the change i think of this stuff as the change whereas your gold would be the dollars you know what i mean the big stuff and what i would recommend is definitely buy silver you know there's no reason not to buy it so it's a great metal to invest in to stack just to look at i mean it's just would you look at it i mean just would you look at it it's awesome looking and you can do so much with it i mean if you're poorer but buying too much when you could be buying other things and gold is one you know gold is very expensive but if you have let's say 5 000 ounces of silver why did you not put some of that into gold you know why not um how are you gonna move this stuff if you needed to move silver quickly are you gonna move 5000 ounces of this stuff what an absolute nightmare when you couldn't move just a few ounces of gold you know which would be a lot easier in my opinion so be careful about buying too much definitely stack gold if you're you know starting to get into the high numbers on silver there's no reason not to gold is a great great investment it's a great preservation of wealth i would say and i would argue that gold is a better preservation of wealth than silver is you can hate me for that all you want because here i am spectacular the silver stackular as you can see right there right i should only believe in silver but i have other beliefs as well and you know like beyond gold and silver uh if you're buying just a crazy amount of silver think about other investments too stocks you know what i mean like even shoot even cryptos to some small degree should be in your portfolio rather than only silver and only gold so if you're buying a lot of that stuff if you're making your portfolio of investments uh too high of a percentage and only silver really consider that you might be buying too much of the stuff and you might want to go ahead and just you know stifle a little bit and chill out and go to another investment because there is a lot of other choices out there again not the silver is bad you're just you just gotta kill out whoa i dropped that you know what i mean i think you do i think you understand what i'm saying some people may not like to hear this stuff some people are going to be like wow and i've seen it in the comments before ah this guy doesn't understand i don't understand i've been there man i've been in the game for a little while now and i see a lot of newcomers coming in and they're just buying as much silver as they can because somebody on reddit or on youtube or on some uh website told them now's the time there's a silver shortage you got to stack hard we're trying to break the comex you know whatever the case may be just chill out don't trust everybody on the internet you know what i mean like just do your own research and uh and by right buy right is not putting 100 of your money into this stuff spread out your investments i think most people uh wise investors believe that 10 or less of your portfolio should be in precious metals i think mine is actually a little bit more than that but you know that's that's up to you that's a personal thing you know that's really what you believe in i wouldn't go 100 i wouldn't go 50 but again uh don't trust all the bad advice out there and there's a lot of it just you know keep a level head about yourself all right that was mistake number two and most likely you're going to make it or you already have and along with number one you know as well paying too much you probably have paid too much for silver i know i have a time or two and i'm guilty of it so don't think that i'm immune from making a mistake just because i have a youtube channel i've made mistakes too and that's why i'm here to warn people and tell you to be careful all right and mistake number three and this is my absolute favorite mistake is not being ready to buy precious metals when the time is right and what do i mean by that i take uh well before the pandemic for sure a few years before that i remember going into bullion shops coin shops uh pawn shops and looking into their precious metals which was around 14 15 an ounce for silver at the time and nobody were in it was in these stores i mean nobody um take coin guy for example coin guide go into his shop i would see nobody in there nobody and that guy you know he's world famous now world famous coin guy but nobody was in his shop buying precious metals when the price was low and it's because nobody was really talking about it i mean you know investment companies would always say keep a small amount of um your portfolio and precious metals but that was it there was no like big news stories headlines etc etc that was not happening so you i'd go into these places and they were loaded loaded full of all kinds of bullion just low prices uh silver eagles for um a dollar over spot a dollar fifty over spot and even then people were complaining you know i mean they're like oh geez why do i gotta pay a dollar fifty over spot for silver eagle this is crazy uh now you're paying ten dollars over and uh you're complaining too so you know what's worse but um people weren't buying them you know the stuff was there it was available and people were just shying away from it because it wasn't big news it wasn't a story you know people on reddit on youtube wasn't just you know blowing this stuff up to the degree like they are right now and uh so be ready you know have money set aside and i don't mean like money as in physical gold and silver which people say you know is money and i agree to some degree uh but i mean like actual fiat currency paper currency you know your your bills have that stuff set aside for when the time is right to buy this stuff you know during the pandemic we seen eleven dollars silver and nobody was thinking that was going to happen because here you have a crisis you had all the stuff going on the writing the looting um the pandemic itself and silver dropped silver went to 11 which doesn't really make a lot of sense right but people weren't ready to buy them people were struggling people were um worried and concerned i was a buyer at eleven dollars now it was hard to find you couldn't really find it at 11 you're paying a little bit over for sure for a premium i recommend recommended at the time some different websites that you could have bought the silver for as cheap as possible at that time and uh you know many people weren't ready many people were impatient too uh they made rumors saying these websites were going under that's why they're selling so cheap blah blah blah those websites never went under those websites were just selling cheap because that's what they did you know they sold cheap and if you could have been ready at that time you could have reaped the benefit uh four or five years ago when silver was 14 15 16 an ounce you could have reaped the benefits then but you weren't interested in it then because it wasn't newsworthy people on reddit weren't you know suggesting it's going to a thousand dollars that they have to break the comex you have to buy all you can buy so be ready be ready when the time is right because that time will come back um you listen to the wrong advice and you're going to see people saying huh silver's going to the moon a thousand dollars that's what it needs to be blah blah doesn't make any sense doesn't make any sense at all to me and uh it's the world will be in a pretty nasty place if silver goes to that degree and gold goes to ten thousand dollars like people say and five or even five thousand dollars the world's in a nasty place because this stuff goes up based on the craziness of the world usually you know um except for that little stall there that they had uh during the beginning of the pandemic like i said when it went down to 11 that was kind of weird but sure sure enough it shot back up and uh if you were able to buy at those prices you know you made out so those are the three mistakes that a lot of us have made even four or five years ago when prices were that low and i seen nobody at the shops you know and i'm in there buying man i could have bought more you know i made that mistake of not buying enough i could have definitely went a little crazier um i'm happy with what i did don't get me wrong i'm not i'm not regretting anything but you know i could have been more ready for sure and i i you know tell you about my mistakes because i want you to try to try to be a better stacker than i've ever been and uh you know i'm talking about bullying and here i am showing off my porridge silver collection which is totally not the same i get it uh this is just you know the artwork that i collect and i thought it'd be fun to do that while i was talking about mistakes being made anyways like i said hopefully you found some value in this hopefully those three mistakes don't happen to you anymore because you're going to be totally ready now you're totally ready to combat the mistakes but chances are you've been in one of those situations you've made those little mistakes too and uh maybe you've learned from them maybe you have and i hope you have and i hope that you can uh impart your knowledge onto others because wouldn't that be great right that's kind of what i try to do here is you know my mistakes can now be knowledge for you anyways i gotta go for now i know i didn't get to the end of this box just pretend like i got to all of it and that wasn't really my goal but you know i was just trying to show off some stuff while i was talking while i was chit chatting anyways i gotta go for now spectacular is out you

Channel: SpegTacular

Views: 7,639

Rating: 4.8747697 out of 5

Keywords: silver, gold, precious metals, coin collecting, how to buy silver, reddit, silver squeeze, silver to 100, silver to 1000, silver to the moon, how to buy precious metals, when to buy silver, why buy silver, beginners silver, beginners silver buying, spegtacular, wallstreetsilver, silverbugs, industrial metals, industrial silver, silver mistakes, how to avoid silver mistakes, three silver mistakes, cheap silver, silver at spot, buying silver, where to buy silver, reputable silver

Id: zT5MTZ_kSEo

Length: 17min 11sec (1031 seconds)

Published: Wed Jul 14 2021