I own a small amount of HL , and have owned a bunch of silver outright, I bought 4 sets of of the group of 5 ounce ATB silver bullion coins to come out. they are beautiful coins and I thought about having them graded. but then I figured I was gonna keep anyway and then the price of silver dropped from $40 into the teens and then I was defiinitely keeping them. I bought them at a slight premium to the silver value at the time as the govt forced the distributors to sell them a specific price. I remember returning one set because the coins were full of scratches. so I have 3 sets now. There were only 33,000 of each coin produced. I would have a lot more money than i do now if I had not bought any mining companies. Its worse than biotech companies cause even if the miner makes a real discovery, a very infrequent occurrence, there are then getting the right approvals, production issues, getting financing, management theft, local hostility and finally expropriation. So now I throw miners into the too hard pile. A couple of years ago I found a new way to lose money when the US govt temporarily perhaps expropriated the shares of a Russian mining company I owned.
Perhaps I will get them back if the Russia Ukraine war ever ends. Thankfully it was a pretty small position for me, I reached the conclusion that a lot less can go wrong if you just own the physical silver, its still just a small part of my portfolio maybe 1.2%. |
