Spot Price is Irrelevant | Here's Why
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- เผยแพร่เมื่อ 30 ก.ย. 2024
- In this episode, I take a look at spot price for gold, silver and platinum and explain why the pricing of precious metals is irrelevant when it comes to purchasing and valuing PMs. A couple of shout outs to @SalivateMetal and @SilverOceans
I stack silver and gold to hedge against our debt-fueled, fiat currency-based economy that I am convinced is in severe trouble. Consider stacking silver and gold yourself to help you build and preserve wealth. And thank you for watching Campbell’s Coins!
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Topics Discussed: silver, gold, when to buy gold, when to buy silver, precious metals, buy silver, silver price, spot price, silver bullion, gold bullion, silver value, us dollar, recession, debt, economy, stacking silver, wealth, silver stacking, invest, investing in silver, investing in gold, how to invest, buying silver, spot price gold, gold spot price today, silver spot price, silver spot price today, dollar cost average
#spotprice #goldstacking #silverstacking
This is really a wake up call video, and I think you made some excellent points. We’ve seen metals become unavailable with lower spot prices, today silver went down into the $18 range. A bird in the hand is worth two in the bush, if you can buy silver now for $23-$24 an ounce, it’s a lot better than waiting until it’s $21-$22 an ounce if there is nothing available to buy! I know stackers are sort of naturally hypersensitive to prices, but saving $1 more per ounce on a full tube, a 20 ounce purchase, is a savings of $20. Is $20 worth the risk of not being able to get the silver you want? That’s a decision we all need to make for ourselves. Thanks for the shoutout Campbell’s.
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I could have swore I left a replied yesterday. Thanks Oceans, we seem to be on the same wavelength on most things and I'm glad we see eye to eye on this one. The premise I'm espousing could be seen as a FOMO mindset but I'd rather have the metal in hand, then take a roll of the dice over a $20 or even a $100 difference. Especially when it could equally bounce back up and quickly as it drops. Appreciate you man!
@@CampbellsCoins yeah I’m finding that we agree on better than 90% of opinions related to metals and coins. That’s an interesting and valid point you raise about the perception of a FOMO mentality. For me, it is what it is, I’ve seen it happen. So I would call it a silver market experience mentality and a judgement call from being there before. I’ve purchased a lot of silver over the last 2 weeks, I’m actually sorting through some of it now. I feel like your channel is like mine in that we actually practice what we preach.
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I'll wait until it's 5 dollars an ounce.
I’ll keep doing what I’ve always done. I’ll buy what I can, when I can. Nobody is smart enough to time the market.
Yeah, nobody ever got rich swing trading... :D
So why did I drop 50k on gold 24 hours before putin invaded then sold at profit days later
I can appreciate that and I'm glad you're sticking to it! There are some technical traders who come pretty darn close to timing the market consistently. Are they 100% all the time, no. But enough to get my attention. Thanks for stopping by man!
I feel the exact same way T. Makes a lot of sense.
@@audie-cashstack-uk4881 I got lucky. Basing your performance off of one trade is stupid and will lose you money.
I'm happy with the Silver coins I purchased for about $30. I'm also happy with the silver coins I just purchased for about $25. It's all a long term investment and a hedge against future inflation.
i agree ... spot price is irrelevant.
but for a different reason.
spot price is based on buying 50,000 ounces of silver.
(5,000 oz of gold)
on the stock market (futures market)
and it is a discounted price.
since no customer is buying 50,000 oz of silver ...
why should i use that price ?
the price of any commodity sold ...
should always be based on supply and demand.
Phenomenal perspective my friend. Stack what you can when you can. And stack when you can afford it. I’m a buyer at $1700, $1800 and $1900! Great video.
Thanks brother! Absolutely, stack responsibly.
I bought 2017 silver American eagle for $28.50 last week. I also bought another 2021 silver American eagle for $30. a few days after. I got some criticism for spending $10. over premium for each coin. I figured spending $30 or less for a government back bullion is a bargain. However, I have no car payments, no credit cards, no major financial debt so I could afford to splurge a little bit for my favorite all-time coin.
I always BUY!! I NEVER SELL!!! WHEN IT HITS THE FAN I WILL BE READY. STOCK UP ON FOOD AND WATER AND AMMUNITION!!!
You know it!
Perfect. Thank you. As I always say, "I'm buying all the way up, and all the way down. Spot price doesn't matter. I'm buying the metal."
Well said! 👌🏻
i agree ... the price is being manipulated.
for one simple reason.
if everyone in america woke up tomorrow with the true price of
precious metals posted.
there would be massive panic.
banks and businesses would crash almost immediately.
simply watch the movie "it's a wonderful life."
I agree. Any sort of disruption would cause panic. Look at the lock downs from a couple years ago. People freaked and nothing really happened. Put in some real food shortages and people won't know what to do. Thanks for watching.
I agree with you - a lot of online dealers showed silver as out of stuck when the price decreased so much in the last few weeks and once it increased again then all of sudden the stock came back :D
Disagree with your perspective. Getting things for a lower price is better.
I only buy gold and silver to secure my savings that's all
I like your argument, but I still time my purchases to save where I can. As for others, I imagine most people are on a spectrum of comfort when buying. Some people will also be considering price in the event they sell. Because of that, price is a big factor to most people I talk to. Cheers!
Thanks 2is1! I agree. I would say 99% of people buying metals always factor in price, either when buying, selling or both. I'm just trying to change the mindset of most of the community haha, no biggie 😅.
I am just glad to see you guys together. We goldbugs need to be united. In GO(L)D we trust!
The only thing I haven't seen go up since 2020 is Beer. A 30 rack of Mass Market 12oz cans is still ~$20.
Of course this means beer is going to moon and this is your last chance to buy 30 racks before people are selling their bodies for beer.
Answser: premium prices are out of control
spot prices don't mean shit...its paper game
premium prices are real not paper crimex
Gold and silver are real wealth- fiat currency is like having a 20 dollar dvd only to find it a year later for 50 cents at a pawn shop
When comparing the U.S. Dollar index between the 1980s and today, you have to include the fact that the Federal Reserve increased M2 (money supply) by 40 percent since just 2020. THAT is the primary reason for inflation today. As investors globally dump stocks, they seek the safer haven at the moment which is the U.S Dollar. Gold and Silver drop due to this strengthening of the Dollar. It isn't going to stay down. Everyone should be increasing their Gold and Silver holdings regardless, as much as their budget will allow. Telling people that they are wrong to base their purchases on the spot price of Gold is not necessarily true for every individual. Not everyone has the ability to purchase Gold and Silver at any fiat price, so they must take advantage of any drop when they can to maximize their purchases with that they have. Whether we like it or not, fiat is what we have to work with until that changes. Nothing wrong in my opinion with setting price levels to determine your purchases if you have a limited amount of fiat currency. Remember, the average individual is dealing with inflation in their daily budget, so there is less disposable to purchase with.
Great insight Campbell
Mr. Campbell Coins.
For some of us poorer folks living from paycheck to paycheck, price dips and dollar-averaging DOES play an important part when we can afford a purchase. And, just to clarify --> in today's inflation infested world, a $50.00 difference in gold price today can still buy me a half a tankful of fuel!
And, just for "funzies", if an oz of gold in today's market did indeed cost $50,000.00 apiece, how many would YOU buy?
I agree. But I still ain't buying ASE 😄 any other silver but ASE. I'm at a point my LCS only has ASE. So I've been buying Gold lately.
Price is irrelevant. Value is what's important. Remove fiat from the equation and compare gold and silver to other assets and what the metals can buy you.
Great video CC 💪🏻 don’t get me wrong it’s nice to see the price drop so it’s a lot more affordable and you can back up the truck but no matter what the price is I’m still backing up the truck and buying that gold and silver ! Idc if it’s $15 a oz or $1500 or $30 or $2500 I’m all in! I buy my metals for savings, for wealth preservation , for insurance, for headging against inflation , I do prep but I prep foods, ammo, seeds, water , things that will matter in a SHTF situation . Great video CC 😎💪🏻one of the best videos you’ve put out!
My wallet decides what and when I can buy. So yes, I check prices to get the most for each dollar I spend. Spot prices are not as important as what the best buy for me is on any particular purchase day or several days.
Gold market is heavily manipulated.
Lovering GLD Feds trying to save dollar.
People who dollar cost average are all SHTF preppers? Weird logic there. Most people I know who stack do it just because it's far more feasible than saving up for one giant purchase in the hope that you bought it at a decent time.
I don't believe I said ALL. But many stackers buy PMs for similar reasons preppers prep.
I’m a shit hit the fan stacker, in the past 2 years I’ve really not looked at spot unless it made me out of budget. I plan on holding for more than 10-15 years so I could care less
I only look at retail price. Forget about spot price, not sure what is that.. totally nonsense. Final price is final price. Why 2 sets of price?
Ratio is just a game
They set the rules
Probably the profit goes to the wrong hands
Not to us the customers
Not to the coin shop
Not to the sellers at the dealers
Not to the people at the mine
Who risk their lives
Or the ones Who work hard at refineries
Who knows were it goes
But there most be a profit!!
Bacon is at $12/lb and silver is at $18.40/oz. Cost to produce? Not even close.
Good video.
Here is Something to think about though.
Spot is important when you go to sell.
Most places use spot to limit buy back price.
Clear, concise, useful, factual information. Thank you.
Many people know the price of almost everything but don’t know the value of anything.
CC I always enjoy your thought provoking content. I have to say I’m guilty I’m constantly looking at spot price.
With that said it is my frugal nature to always try and save a few dollars here or there however I am always buying on the way up as well as on the way down.
I appreciate that BA! And I totally get where you're coming from, you have to make your currency work for you to the upmost extent. Buy what you can, when you can. Hope you're doing well my friend.
@@CampbellsCoins I’m doing well I hope you are doing good too.
@@bullionaddict9164 I am too. Thanks bro.
I'll just also say that I really enjoy the content you're putting out. I think there are a few ideas we differ on or at least hit different points on the scale on. I don't nod along to 100% of the things you say, but I think that makes me enjoy it more. Good stuff here. 🤘
I appreciate that man. I feel the same about your channel. In my interview with Patriotic Stacker and Pistol Packing Pilot, I gave you a shoutout. Although, shamefully, I'm a few videos behind on your page. I'm sure we do, but for the most part I think we agree more than disagree, especially when it comes to the more important topics. If we were all singing the same tune, it would get boring really quick. That's what I love about the community, there is such a wide range of voices to listen to, it gives the viewer a really comprehensive scope on precious metals. Have a good one!
@@CampbellsCoins absolutely agree on more than not. Your channel makes me think more than any other in the space. I think some of that requires a different angle of approach. Cheers!
@@2is1gold likewise my friend. Take care
Brother, I love your content, but this video contains every damaging narrative into one short, concise video. I am going to make a response, not to address you personally, but to address these common, demonstrably incorrect arguments that have been plaguing the stacking community for years. I started stacking in 2004, and sadly the ill-thought narratives have not changed...
a half crown or 1/2 oz sterling silver would rent you a room for a week in 1889 think about it
When a car cost 1000 10 years ago, and then it cost 2000 today for the same car, Then likewise Gold would be 1000 10 years ago and then today 2000 due to inflation. Moral is that when inflation occurs, Gold also increases. Don't sell the gold when you think you'd get more fiat paper money because inflation makes the same object cost more currency.
its doent matter , as long as you dont sell , and when you will want to sell the fed/government will already ban the use
Great content that everyone needs to hear. Facts. Keep up the great work.
There is only a finite amount of these metals on the planet, they've served an integral role in establishing, building and even at times safeguarding economies for thousands of years. There have also been countless scientific discoveries and uses for these materials, which exemplifies the point again of a limited amount of these metals. Thanks for the upload.
Thanks for stopping by!
I totally agree. In a SHTF I'm not gonna cry because I spent an extra $100 on an ounce of gold. The whole reason I am getting it is because of it's lasting value- dollar signs are arbitrary. I'm new to stacking, but seeing people who say they don't believe in the fiat an then turn around and criticize me for paying current premiums confuses me. Since when has that mattered soooo much? Obviously I will only spend what is reasonable for me at that moment, but the people who make and sell the silver need to keep their jobs too. If spending a bit more will help them help me, I don't see the problem.
Precisely! Thanks for watching and congrats on starting your stacking journey!
Campbell, it’s not the spot price as it once was in 2000-2015.
Since TH-cam gold & silver content providers' popularity, they have urged dealers into a comfort zone of outrageously high premiums. The dealers are now scamming and using TH-cam content providers to continue to create FOMO.
I am so glad I purchased my gold from 2003-2006, at $350-550 per oz, directly from mints in US, Canadian, UK, and Austria.
Today's dealers are grifting.
I will again purchase all the gold and silver for the year, direct from mints, between Jan-Mar each year.
It certainly isn't. I'm not sure I agree it's only TH-camrs but social media has certainly played a part in the high premiums. I'm glad I bought in '05 too. Thanks for watching!
I sleep better at night knowing my money isn't in the bank
It's about time in the market and not timing the market
Buy what you can afford on a regular basis.
Great topic and I absolutely agree with your thoughts. I've been buying as much silver as well as some gold over this dip period as possible. Appreciate the video content.
I just placed a big order for Silver coins yesterday. Now is a great time to buy! Yes, it might go down a bit more but I don't really care. Like you said, I'm stacking for SHTF and I think it's a great long term hedge against inflation.
Good job! Thanks for watching!
I buy gold at 1850.00
When it get 1780.00
I don't have money to buy
I regret ok!
But when I really take the lost
Is when I sell or buy silver
Then is when I realize
I ve lost
Unless I don't trade sell everything is ok
The moment I sell
Thats the moment I take the lost
I ve learned the hard way!!
A bullion poet, nice.
Kitco who I have purchased from in the past has silver selling at a minimum 34% over spot price! I cannot buy from them at those prices with good conscience. SD Bullion's spot prices are never accurate (in their favor) and They are supposed to be the good guys...? Why would a miner mine at such costs? Cash flow. Simple since otherwise as a business venture they cease to exist if they can't pay their debts. Oil producers have had to deal with this for as long as they have been mining oil. By the time coin or bullion reaches the market I care not one bit about what it took to produce. That is not my concern or responsibility except at what price I can buy at. Price DOES matter. But, I also comprehend the intent of the video. As an investor when asked when to buy anything, stocks, precious metals, real estate... I always say the time is now. Get in buy high low and in the middle! Just don't overextend yourself and be forced to sell at a loss. This happens more often than you would think when people FOMO borrow to invest at high prices.
Obviously folks who are hoping to get metal at unrealistic prices are being unrealistic - if it costs $18 to turn a chunk of ore into a silver eagle then $18 silver eagles aren't happening and refusing to buy until you see them means you're going to be waiting to buy for a long time.
But there's nothing wrong with looking for dips to save a few bucks - if the price is declining then why would you pay $40 an ounce today for silver when you can see the price is falling and could be $35 by this time next week?
Saving $5/ounce isn't foolish.
Nope, the only time to "buy now" if you intend to buy is when you see the price increasing, as it would also be foolish if the price is $35 today and climbing, thus resulting in you paying $40 if you wait until this time next week.
Hence there's nothing wrong with watching how the price is behaving and making your best educated guess to try to purchase metal at a cheaper price then it was yesterday or you think it will be tomorrow.
As for paying attention to spot price, sadly, with premiums having been blown out of the water lately - spot is just shy of $19 right now and JM wants over $33 for cull silver eagles, meaning premium is almost equal to spot - seeing as how I used to be able to score them from the pawn shops for spot +$2, that's insane.
So yeah, looking at spot borders on moot right now.
I could care less how much I ever spent on my stack. I don't even keep track of it. I don't know how much I spent.
I don't look at spot price when I buy. The market is the market and I just pay going rates.
It simply all does not matter. I am stacking to get out of the dollar before it's worthless. I don't want dollars or any other fiat currency and I sure as hell don't want crypto.
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When it goes up, I buy it. When it goes down, I buy it. I just buy it..... every week. I seldom leave any in the coin shop.
Well said Burt! Thanks for watching!
You are so correct my friend.....I'm buying if I have money.... period!
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Spot on. Manipulation is here
Rating dog poop based on smell?
That's the funniest shit I've heard today😂
😂 thanks for stopping by!
I always look at spot price when buying gold but it doesn't effect my buying. When it goes up I get excited and want to get more...when it goes down I want to save money so I buy more
Super video! Love it
Thank you very much!
Where did you get your $18/ozt to mine silver figure from? Source?
Keith Nuemeyer of First Majestic Silver
At this point, people either get it or they don't. Very thoughtful of you to explain it to them (again), but if they can't appreciate the urgency of stacking (responsibly) in this current environment, you got to let them go.
By the time they get it, it'll be too late.
A Silver Dime for a Loaf of Bread .For with the measure you use, it will be measured to you.” Luke 6:38
I've been stacking for under a year.
I admit, I do check spot price, but only to gauge retail prices because many people sell at different prices.
I buy 6 or 8 ounces of silver every week, regardless of spot price. As the price drops, I try to pick up extra.
I only know how many ounces I have, but not how much I've spent.
Another great video. Very interesting how we focus on spot knowing it's a managed or manipulated market... I like your idea of focusing instead on ounces. Still, funds are limited so I'd rather pay less for my gold and silver :)
Right on spot.
Everyone has their own strategy and believes it's the correct one. That's just how it is. Nonproductive to get worked up over it.
That was dumb enough. Unsubscribed
Bye!
When i have the money, I buy..regardless of the price that day.
I don’t worry much about the price. If I feel like buying and I can buy..I buy. I see it kind of like if I don’t park this “X” amount of money in this gold/silver I might spend it on something stupid over time. So at the end of the road IMO I’ll be in a better position regardless. I love metal and I love watching my stack grow! Awesome video 👏
Right on man! Thank you!
I agree. It’s just a good way to save.
Need to check your facts, silver does not cost $18 dollars an oz to mine. Cost to mine overall is around $10.88 oz (AISC) when you take that into account. Some mines get it out of the ground for less than $4.00 oz. TCC = $3.88
My numbers come from silver miners like Keith Neumeyer. Where are your numbers coming from?
@@CampbellsCoins the Silver institute
@@richardminer1863 Thanks, I'll check it out!
The value of currency vs the value of money. In some places cash is no good.
You have to trade using Clothing, Food, Butter, Spices, Cigarettes, Alcohol, Lumber, Ammunition, Gold, Silver, . actually in that order.. A can of Kool Aid sold for $16 each in 1985 in parts of Alaska... How many silver coins would that have been equal to back in 1985? In 1993 pink Salmon was about .03 cents a pound.. a loaf of bread was $1.50.. how many fish for a loaf of bread? Lololol
Your damn right I’m celebrating the dropping Gold & Silver prices. If you’re a stacker, the plan is to acquire as much bullion as possible, at the lowest price possible, in order to maximize your profits when conversion time rears its ugly head. This is my savings account for my son, so buying today at $1,709 oz, and prices fall another $20-$30-50 an oz, then buying again at a lower price is even better. No one can predict the bottom, and should probably give up trying if they do, but the best time to buy is always when price is dropping, even if it’s not at its lowest point. Continue to buy, and “Cost Average” on the way down. It’s a long term game, so let the speculators play the fools quick flip game.
A miner wouldn't sell silver at cost... but the 400:1 silver that's on paper can be continuously manipulated no matter the actual cost of mining the metal. That ratio is why they'll still be trading silver and it'll still be dropping long after all the physical silver is gone.
I noticed premiums are still high as f***k. American gold eagles and buffalos not under $1800 for an oz. Weird
Spot price is most certainly relevant. Just go and sell your silver to any bullion dealer. They are going look at current spot price to determine what they will pay you for it. Right now they are paying more than spot. But, we all know that will change as the price drops and remains stagnant for years. Most silver is mined as a by product. So any silver they get is just extra profit.
Don’t care about price. Not one bit. I never plan on selling, so 🤷🏻♂️
Spot price will matter a lot when you go to exchange your metals for cash because spot is all you'll get for it. It's all you can figure on for estimating your returns. Your point is valid for shtf, but for the live we actually live in, what other number would you use to estimate the value of your holdings? If your budget for an ounce of gold is under a high premium, it matters when it crosses the line to unaffordable. For people on a tight budget, that $50 might make the difference between making a purchase and going empty handed. But the biggest reason spot matters is in your stack's evaluation and when exchanging for cash.
Exactly, people still thinking in the FIAT currencies, they should start thinking and spectating the world in weight of gold (whether it is ounces, grams, kilos etc.). In my country - people cry that real estate prices are always higher and higher - well what is not skyrocketing in euros, right? However, when real-estate prices expressed in gold, the real estate prices are quite stable, sometimes even declining. Moreover, in case of some kind of monetary crash which could decrease money supply (because of fractional reserve banking), I believe the assets at risk are only the ones that are fueled with debt - I know that people buy btc, stocks, real estates with debt, but does anybody buy gold with debt? ;)
Even if silver goes below usd 10 per ounce it is still very well priced. No worries
My take. The cost of anything is what people are willing to pay for it. Like algebra the premium is what is solved for. If the cost and spot are known, the premium is the difference and that is a moving target based on where the other 2 land. So out of cost, premium and spot, I think cost is the only factor that is relevant.
I don’t look at spot price. Like buying a brand of something, you get your money’s worth at the end when you buy the brands you trust are the most respected in the industry. This could be a car, clothing, etc anything else. If you later wanted to re-sell those items, you could you’re going to get a fair return value. The same for my gold and silver investments. I’m buying the most popular brands so later sales will provide the best returns.
It’s the same gamble with holding out on buying gas to buy when it’s low. The price you see now could be the low point. And tomorrow it could potentially go up greatly, leaving you regretting not just buying now. Law of averages always win. Buy now, and ignore the spot or premium.
Agreed
Accumulate as much as possible I don't care about the price flux
You buy for the inevitable moonshot
The market is gradually falling back into equilibrium, we should be hsppy
That was your best video yet. Way to put things into perspective 😎
This is why I have bulked up on silver this month. I don't want to wait for that $15 plus spot silver I can't find.
Just a hunch, but I think the people at the top are quietly converting their paper to metal and need to keep it on the "down low" as not to alert the masses. Keep the manipulated prices low so they can acquire more. If it starts to rise then they'll sell off some so the nubie investor will loose and not return. When the collapse finally happens they will be holding the shinny stuff ! What do you think ?
I look at spot then the premiums.. and buy the cheapest premium items or on sale items.. gold premiums are really high right now 12%
Rating dog poop based on smell? Campbell just discovered my second hobby besides PMs
Good information but one correction the U.S. government did not print paper money until the Civil War.
That’s correct, Don’t value your silver and gold in a dying, fiat currency.
Oceans sent me here, he said your video was good. I have now lost all respect for Ocean as this video barely tickled my fancy. Now, that said…it did tickle my fancy.
Price to me isn't a major concern. I stack gold for wealth preservation. I just added 3 oz to my collection this week and will continue to do so.
Why buy metals? They're not hedge against inflation
You focus on the buying of silver. Now do a video focusing on selling silver.
In reality, the only price which really matters is your selling price.
There should be a "love" button when "like" doesn't cut it.
The only reason I check is so I know how much money to bring to the store.im in for the longterm
Sounds like what the bitcoin maximalists say.
Bitcoin isn't real
@@audie-cashstack-uk4881 neither are you
Maybe! I'm not part of that group so I have no idea what they are going on about.
Interesting video 👍 New subscriber here
Gold and silver is underpriced by at least 20% currently
You make some thought provoking points. Listening to this video one realizes what a "hot mess" we are living in. So many players trying to manipulate the market for personal gains. It is hard to comprehend. For me, the price of gold (spot+premium) is too high to buy. It really does not matter the reasons for each of these prices. Seperate or together, the total is too high. Again, I am speaking for myself. Good luck to everyone and stay safe out there.
Thanks Ontario! What's your spot + premium buy range? I remember when eagles had a $25 premium attached to them but that was a long time ago. It's been awhile since I've seen gold premiums under $75. It really is a shame what these "players" are doing. Thanks man!
@@CampbellsCoins Total price $1500. I might have a long wait though.
@@Ontario100 never gonna happen. You’ll never buy gold again if that’s what you’re waiting for.
OZ over $
100%
85 dollars more for silver and food ! shut up
You use spot because dealers/buyers pay the spot price+.