I'm thinking of buying 10K CAD (Which would be around 400oz considering the actual spot price) worth of silver before...

Go for it mate, don't listen to the idiots here who think you should buy high and sell low, they love their day trades but they have no sense of long term trends, how to take advantage of over/under valued assets that will shift value from one to the other.

> Supply is constantly increasing

What is an industrial metal, to the retard on Veeky Forums, 20 points?

OP said Silver not Gold & the supply of currency increases at a far higher and more accelerated rate than the supply of precious metals, stop being silly and do your homework.

I don't advocate buying metals as an investment, nor even as a store of wealth (and I own 5oz of gold and 12 lb of silver: less than 2% of my assets).

That said, if you're going to to metals ALWAYS buy coins as says. Bullion, especially in larger quantities, is a real PITA to sell because it has to assayed/etc and the market is very thin. Coins are easily recognizable and easy to trade. You need to think about the situation where you would want to trade them. Who wants a 10lb bar of silver?

I would cost average over time, maybe 2k on the dips over a year or so.

Or if you are brave, look at the technical charts and try to predict a good entry point for going all in.

Why wouldnt you recommend it as a store of wealth?

Of course not. But it doesn't mean you can't dabble with paranoid fantasies of global market failures.

At the very least you will be able to hand a chunk of metal to an heir and let them deal with it. My dad did it to me.

Because if shit gets that bad you will want to be independent of the markets and have other sources of independence. A generator and 500 liters of fuel is worth much more than some metal coins. A source of pure clean water is worth much more than some coins. A shed full of rice and dried meats is worth much more than a brick of gold.

It's a matter of deciding how fucked is "fucked up". And any scenario I can come up with that tanks the US dollar to garbage (as my great grandparents dealt with in 1920s germany) always entails ability to produce and take care of yourself.

>the worse the economy gets the more people will be selling gold and silver.
I think this is possibly the most retarded thing I've ever seen posted on Veeky Forums and that is frankly a remarkable achievement. Well done!

he's right.

the point of having gold and silver is to hedge against inflation. It doesn't hedge until you sell it. You sell it when the currency is worthless.

so when the economy takes a shit is exactly when people will start spending precious metals.

>Is that a good idea?

Probably not.

I would (and have) put my money into dividend paying market etf's instead.

Physical metals have problems, you pay more for them, you have to put them somewhere they won't be stolen, and they sell below market price. Also if the world goes to hell I would rather have ammunition.

The markets could tank and silver could skyrocket, who the fuck knows, I don't see it happening.

>You sell it when the currency is worthless.
If the currency is worthless then you don't sell at any price. At that point Gold becomes a store of value and a protector of wealth. Why would you sell all your Gold if the Dollar (for example) is collapsing and experiencing Hyperinflation? That's the worst time to sell.

>so when the economy takes a shit is exactly when people will start spending precious metals.
That's why every recession, investors flock to Gold? Righto.

>Why would you sell all your Gold if the Dollar (for example) is collapsing and experiencing Hyperinflation?
because when dollars don't buy anything gold still does.

>That's why every recession, investors flock to Gold?
how many have you lived through?

I just don't buy metals so no. easy as that.

Personally I think that silver is undervalued. It's worth a purchase, but personally I wouldn't keep more than 30% of my portfolio in precious metals.