2023 Big Silver Buying MISTAKES – (Gold too!) AVOID

In this video, we’ll be discussing the dos and don’ts of buying silver or gold, and why it’s important to be very careful when doing so. If you’re thinking about investing in precious metals, then you need to approach it with the right mindset.

Firstly, you need to think of it as converting paper electronic unicorn fart dust into real money, rather than just buying something. This means that you should focus on the actual ounces of silver or gold that you’re acquiring, rather than the perceived value of it measured in paper or electronic currency.

Another common mistake that people make is not shopping around for the best prices. Reputable dealers can have vastly different prices depending on supply and demand, and with supply currently very low, you need to be extra careful. ASE’s premiums are often too high, and you may end up getting fewer ounces for your money.

One way to mitigate the risk of investing in precious metals is by using a structured dollar cost average system instead of piling in all at once. This allows you to spread out your investment over time, reducing the impact of any sudden price changes.

FOMO, or fear of missing out, can also be a major trap when investing in precious metals. Chasing the price up is never a good idea, and you need to be disciplined and patient when it comes to buying and selling.

On the other hand, some people are too cautious and don’t do anything because they’re waiting for the price to drop even lower. However, it’s important to have a balanced investment portfolio, and chat GPT recently recommended having at least 20% in precious metals.

It’s also important to avoid putting too much of your net worth into precious metals, as this can be a risky move. And when it comes to buying silver or gold, make sure to go for physical bullion rather than electronic unicorn fart dust ETFs, as if you don’t hold it, you don’t own it.

Another mistake to avoid is falling for the numismatic upsell. Instead of focusing on rare coins and collectibles, it’s better to stick to buying ounces of real silver or gold.

Finally, it’s important not to get too arrogant or complacent when it comes to investing in precious metals. There’s always a risk or opportunity that you don’t know about, so always be willing to learn and stay informed. And remember, don’t tell your friends and family about your investment, as they may not care now, but they will in the future when prices skyrocket and there’s even less available.

FIRST MINING GOLD (additional information):
Website: https://firstmininggold.com/
Questions: paul@firstmininggold.com Director of Investor Relations
Stock symbol: OTCQX: FFMGF / TSX: FF / FRANKFURT: FMG

Paid Promotion Disclosure: RONS BASEMENT YouTube channel is sponsored by First Mining Gold. Any information shared in this video should not be construed as investment advice or a recommendation to buy or sell the company stock (informational purposes only). Ron does own a significant number of First Mining Gold shares, which were purchased years before the commencement of this sponsorship arrangement.

RONS BASEMENT “MERCH”
“Blindfolded BEAR” T-Shirts, Hats, Mugs….
https://ronsbasementshop.myspreadshop.com/

You Can Donate To RONS BASEMENT Here:
https://www.paypal.me/RONSBASEMENT
THANK YOU!

#silver #silverprice #gold #goldprice #ronsbasement #stockmarket #economy #federalreserve #silverstacking #goldmines

CONTACT:
Ron
RonsBasementSilver@gmail.com
Suzie
RonsBasementSuzie@gmail.com

Livestream every Tuesday at 10 a.m. Central Standard Time come join us in the basement, everyone is welcome!

Silver, silver price, wall Street Silver, Gold and silver, silver and gold, silver stacking, gold vs silver, housing market, crypto crash, stock market crash

Follow me on TWITTER: RonsBasement
https://twitter.com/BasementRon?t=ycTAqJem9U8OypD0zGeQZg&s=09

Informational purposes only. Do not buy or sell anything, make any type of investment decision, adopt a puppy, get engaged or do anything based upon the information I share with you.

My current portfolio:
EQX, FSM, FFMGF, BBBXF, USAS, TSRMF, FSXLF, KGC, GOLD in order of highest to lowest position size.

ALSO hold positions in:
MMM, NOK

SILVER SPOT PRICE
GOLD AND SILVER
SILVER STACKING
SILVER NEWS
GOLD SPOT PRICE
SPOT SILVER
SILVER BULLION
SILVER SPOT PRICE TODAY
GOLD SPOT PRICE TODAY
INVESTING GOLD
PRECIOUS METALS PRICES