WWSSD
It's usually pretty rare that I actually post twice in one day from the same account. I know many can see that as a bit spammy and I certainly don't want to be one of those people. These are extenuating circumstances though.
With the price of just about everything being down in the traditional markets right now, I have about $30 USD sitting in my Robinhood account that I have been thinking of moving into some "silver-centric" stocks.
As I have mentioned in the past, I already own a bit of Fortuna Silver Mine (FSM), so I am looking for something similar but different.
I figured what better place to ask for advice about a precious metal related stock than my friends in the Silver Gold Stackers community.
I know $30 isn't a ton of money to invest. I apologize for that. I get that it probably doesn't make it very exciting for you. I trust your judgement though and as I said, it's only $30, so if it all ends up going to zero, no big deal. I spent more than that on my fajita dinner last Friday.
It doesn't even have to be silver. It could be a gold or platinum mining company. Heck, I am from Michigan, so it could even be some kind of copper venture. We used to have plenty of that here in the UP.
I'm open to options.
Just leave the stock ticker in the comments and tell me why you think it is a good buy. You can also just leave the stock ticker in the comments and make me do all the research if you want. I don't blame you for that.
I'm really looking forward to seeing what kind of options I get.
If I get more than one suggestion for the same stock, that's likely the one I will pick. If I get a bunch of different ones, I'll just have to sort them out.
What I can promise is that I will try to give some decent upvotes to whichever one I do pick. My VP is a little low right now, but I'm hoping it will recover soon.
So lay it on me. Let me know what I should invest my $30 in over on Robinhood!
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I put a few dollars into Kinross Gold (KGC) a couple days ago.
Thanks for the tip! I will put that on the list of potentials.
Great. I am waiting to see what others share as well. May borrow some of the recommendations.
I don't blame you for that. Lots of people here smarter than me!
Did Fortuna Silver Mine (FSM) treat you well and have positive gains? Why have you decided to invest in Silver and not Gold? Giving some insights on this would help me also expand my stocks portfolio as I need some more diversity there.
FSM did me quite well. Bought under $2. Sold some at $10. It's sitting at $4 now I think. I'm open to gold stocks as well.
Fluffing awesome!
Posting twice a day should not make you a spammy
A lot of people post four times a day
Do what you like!!!
Yeah, I try to keep it in check though!
I only invested in gold, so have no idea for silver. In fact I have no idea for gold in 2023 either!
Good luck me and I shall be intrigued as to what recommendations you get!
I'm looking forward to it too. Not a ton so far though. I might only have one option!
I just collect gold and silver. Some of the precious metal stocks are tempting. But they cost a lot to buy !
The cool thing about Robinhood is you can buy fractions. For some of them anyway.
I bought a First Majestic, silver round that is and not the stock though it would be cool get one stock matched to a round.
Cool, thanks for the tip!
Best of luck - I hope you get a good tip !!!
PSLV
Thank you!
Well... As per "my version" of the coming U.S. Monetary Correction, you can do plenty with your 30 Fiat USD's... You can go to the Bank and get Three $10 Rolls of Quarters and wait for the Reset... On the other side of the U.S. Monetary Correction, you can Exchange your Three $10 Rolls of Quarters for 3 One Ounce, $10 Silver Coins that will have the "Spending Power" of 3,000 of today's Fiat USD's... After seeing your other replies, I can tell, no one believes or sees what I see heading our way...
I was thinking more stocks. The money is tied up in Robinhood. I'd think I would want to buy the silver now not later.
One Ounce of Silver will end up with the Spending Power of 18,000 of today's Fiat USD's, but it will take Decades to get to that point... Three $10 Silver Coins will reach 60,000 of today's Fiat USD's in the same amount of time... This tells me, our Common U.S. Coinage will out perform Silver and Gold...
Hmm, interesting. Decades is something I don't have unfortunately. I'm older than I look! :) So you are saying wait until the crap hits the fan, then go buy a bunch of silver coins at face value. You think silver is going to lose 50+% of it's value after the collapse?
Silver will not lose any value... What going to happen, (in my opinion) is that our Common Coinage is going to increase 100 Fold in Spending Power, so that it will be able to "make change" for our New Product Line of Silver and Gold Coins that will range from $1 to $100... If measured in today's Fiat USD's, the Melt Value of Silver will go "as high as" 900 of today's Fiat USD's in Phase One of "my version" of the coming U.S. Monetary correction...
CDE is currently trading at $3.65. I have warn you this stock has literally broken my heart in the past but when she runs she runs fast.
Ah, okay. I already made my buy, but I am going to keep this handy for the future.
Do you get access to the Australian stock market?
Lots of good gold mining companies over here if you're up for a bit of international diversification. There is some interesting merger talk around Newmont / Newcrest, but if I was to pick a recommendation I'd probably choose Northern Star Resources (NST.AX). They are mid sized producer and a bit volatile but the price action usually behaves like a leveraged gold play....so if gold is off to the races then it should be a good pick. Good luck.
I don't think I do. Thanks for the info though!