Quote:
Originally Posted by shortstopguy12
So why is everyone hoarding the actual metals? What is the appeal rather than buying some silver or gold stocks? Seems harder to hold and store the actual metals
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Many reasons:
The metal is shiny (and collectable in a hobby sense)
The metal is tangible
I can sell the metal on the street to anyone with cash money (or a loaf of bread, gallon of milk, etc)
I don't buy individual gold/silver stocks (but I do own ETFs for both) and a simple power outage, server malfunction, lack of access to a computer (or the net) and I have nothing, at least temporarily. A short walk to my safe and I have purchasing power again.
You can think of it like a sealed box of cards. There is a value to that box based on the quality of the product, the players you may pull, etc. If you don't open the box the value still goes up and down (just like the stock of a metal co) and has a future value. The box can sit safely on the shelf and requires very little storage requirements. Once you open the box (or buy hard metal) you know exactly what you have and just like the hard metal it is harder to store. The good stuff needs a penny sleeve, top loader, one-touch, boxes to store them in, etc. But what is more fun to look at...the unopened box filled with hope and possibility on the shelf or that rookie patch/autograph card in your hand?