I Want To Start Investing In Silver. What Should I Know? - Page 2

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Author	Replies: 19 / Views: 3,315	Page: of 2

MisterT Pillar of the Community United States 2004 Posts	Posted 08/10/2023 9:49 pm Thanks BadDog, I'll check into it. Report this Post to the Staff
hfjacinto Pillar of the Community United States 7295 Posts	Posted 08/11/2023 10:29 am I buy from my local dealer. I don't consider silver an investment, so I buy stuff I like rather than the lowest price. This is all bullion or basically what I paid at Spot + a small premium. My Slabbed Dansco 7070 with Gold Page My Slabbed IHC Set My Slabbed 20th Century Type Set Report this Post to the Staff
nss-52 Moderator United States 54284 Posts	Posted 08/11/2023 6:01 pm Say I bought silver at the beginning of 1974 for $3.28 per ounce. Today Silver is $22.75 per ounce. Was that a good investment? First, the value of $3.28 today, due to inflation, is $18.76. That means I profited $3.99 ($22.75-$18.76) in 49 years. I beat inflation! But if I sell it, Uncle Sam will say I profited $19.47. At a capital gains tax rate of 20%, that's $3.89. So, when all is said and done, I did maintain my wealth plus 10 cents. Show your financial support of the Coin Community Family (click here) See my topic on Mexican Numismatic Medals (click here) Report this Post to the Staff
NumisEd Pillar of the Community United States 5192 Posts	Posted 08/11/2023 7:56 pm Quote: So, when all is said and done, I did maintain my wealth plus 10 cents. Which is what precious metals supposed to do: preserve Purchasing Power. If you want to become wealthy, invest wisely and/or start a successful business. Report this Post to the Staff
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