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A Quick Follow Up To Last Week

By Rigfennidh | The Hideout | 18 Oct 2020


Last weeks trip down memory lane got me to think. What if I had followed my old mentor's advice and bought silver every week from when he gave his advice? Where would I be today?  

I began to research and find out how good his advice would have been. Using the power of google I found the average price of silver for each year. I received that advice in 1988 so I began using 1989's numbers.  

The average price of silver in 1989 was $5.50. If I had bought 52 ounces of silver at that price, I would have invested a total of $286.00. I extended that thinking through to 2020. Using the current average price of silver at $19.69.  

If I had done as my mentor said, I would have purchased over 1664 ounces of silver at an average cost of $11.63. My total investment would have been $19354.00.  

The value of that investment would have been $32,764. Giving me an approximate profit of $13,410. A little more than the value of one bitcoin. Silver could have made me a whale in the bitcoin sea of fishes.  

I did buy silver, not at the rate that my mentor suggested. The return has been nice. Not the return that a similar investment in bitcoin would have been. In the world of investments, you take your profit where you can. Silver would have yielded a good return. My mentor was right.

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Rigfennidh
Rigfennidh

Just your average 50 something introverted Entrepreneur. I’ve owned several businesses and served in positions of community trust both elected and appointed. Now I trade crypto and run a successful apiary business.


The Hideout
The Hideout

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