Just a quick question here... Am I the only person who wants the silver price to go downwards below $30 soon so I can back up the truck Am I a hypocrite? or a very tight fisted chump? I believe in the long term fundamentals however, I'm struggling with that thought simply because I bought in the mid 20's and back then I thought it would fall too (but didn't ) it has been a roller coaster ride since to where now I'm thinking that the new bottom is $30 or is it the new bottom goind to be $40 I have dry powder waiting in the wings earning 6.10% interest but as the song goes " should I stay or should I go now " Do any of you guys have the same dilemma? :/
Yep, I agree with you there. I'm having trouble justifying purchasing now. It's a shame, when silver was low 30's I didn't have the fiat, but I now have the fiat however with silver having gone back up I'm having trouble parting with my cash. Tough decision.
Not to mention, I feel that the increase in silver price is almost as parabolic as the drop we had a few months back... just too uncomfortable!
some people would say "sssssssssssshhhhhhhh" you should say "cash" on this forum say FIAT but it's a tough mental choice at the moment isn't it :/ I don't buy single 1 oz coins at a time, like some on this forum cost averaging, I buy kilos bar(s) at a time and the extra increase in spot has drastically increase my purchasing. Perhaps I should join the 1 x oz buyers club
here's a question for the really new comers (say who started buying at $35.00) do you think it's tough buying now? and then I pose the same question to the guys who started buying when it was below $20.00
I can't imagine why anyone would want their investment to lose money, just so they could spend more money on a depreciating assett. Y'all mad! How about we all decide that the price of something we don't already own should be low and the price of the silver we already have should go up! Then we can sell some of the silver at a profit, and we can buy some stuff that is still cheap. You guys, you are sounding like one-trick ponies (no disrespect to the Lone Ranger's Horse)
Hi Jislizard, this is what I need! positive advice but I need much much more of it then I may have the courage to buy more at this price of $40. It's like standing on the high platform diving board - no matter how easy it looked when you were at the bottom it's much harder as you climb higher and higher eventually standing at the top reading the jump down. Here's another question - has any of your actually traded (contra deals) ordinary day to day junk (ie: 10yr old car) for bullion or coins? :/
I bought from $37 upto $45. I will be buying around another 30k worth of silver and gold hopefully in the next month, now if it's $20 a oz or $40 I don't care, buy now and celebrate later. My uncle once paid a Hugh some of money for a property in Queensland and I remember everyone saying he was crazy and it wasn't worth that price but his answer was that sometimes you have to pay tomorrows prices. I spoke to him about it once and I asked him why he paid so much and his reply to me was, if you see the potential in something and believe it will make you money well buy it. He said that he has had offers from people to buy it for alot more than what he paid and now Its worth a kings ransom.
True Dusty! I know a guy who bought a 100% toilet bowl house in Stanmore for $98K -10 years ago. He puked after he bought it saying "what have I done?????????" now that same house is worth about $ 700K Thanks for the advice - my balls are begining to reappear again
I never climbed the high board because I couldn't jump of the low ones. As to your other question, I am the only person I know who has silver (other than stackers who are accumulating not offloading) so when I trade junk the only option is to receive fiat in exchange. I was given a half sovereign by a relative because I collect coins, my sister was a bit put out, she shoulda collected coins then.
Yes, I understand. Any stacker appreciates the value in the coinage or spot price to part with it. I have some items just sitting around the place that I want shifted and it looks like ebay to free up the cash to buy the bullion for me :/
Bear in mind, I'm a newb at all of this, and may have gotten the whole thing wrong, but, I think it depends on what you're stacking silver for. To my way of thinking you're either trading the stuff on paper, collecting it for numismatic purposes, stacking away in case the SHTF, or stacking away with a "goal" in mind (eg. retirement). Of the 4 reasons, I'd think the "usual" reaction would be: (1) Trader - You would want a price that bounces around a bit in order to buy and sell regularly - then it's only timing that determines whether you make a profit or not. (2) Numismatist - You're not necessarily collecting silver, it just so happens that a lot of the coins you like happen to be made from the stuff. Given that you'd be used to paying a relatively high premium based on numismatic value, I don't think a change in the underlying bullion price would ruffle too many feathers either direction. (3) Stacker for SHTF - Your reasons for stacking away silver are relatively single minded, you want as much bullion for the dollar you can get, yet you will be making sure that your purchases remain tradable, both in terms of size, and recognisability. The base metal price affects you directly, and whether a downtrend in price is good or not depends on the size of the smile on your face as you look at your stack - if you have "enough", you're happy to wait out the high prices and buy on the dips - if you haven't got enough, you are likely to want the price to come down, albeit temporarily, so you can buy a lot more. (4) Stacker for goal - Pretty much the same as above, though in some cases, I could see an element of numismatics creeping in (something along the lines of Pandas, where you know you'll pay a high premium, but also you know the value is there and is very likely to increase). Your price feelings would be similar to a SHTF stacker. Me, I'm stacking for a mix of (3) and (4) - I want to be prepared when Fiat goes the way of the Dodo (I don't think it fully will, but inflation will eat away at it, and I can see that when some currencies devalue too much, or collapse, they may be replaced with "new" fiats, or other fiats, depending on the situation). If that hasn't happened before I retire, then I will have a nice stash to "lean back" on in those years. If the SHTF in the meantime, I'm prepared. All of that said, I want to add to my stack, I need to add a lot more to it, and also looking to buy some gold. I had bought a bit of silver a few years ago, set it aside with these goals in mind, and then got distracted in real life, and never kept buying. When I bought, it was around $14 to $18 an ounce, so I've done well out of what I did buy, that's for sure. This leads me to one simple fact (and I'm going to quote myself from another post in another place here)... TODAY is the day, in a few years time, you will look back on, when silver is (say) $75, or $100, or more an ounce, and say "If only I had bought back then when it was so cheap". I say that myself now, abuot the silver I have - I wish I'd bought more. In 5, 10, 20 or more years time, looking back on today, you will not care if you paid $39 an ounce, or $41, or $45. You will cherish what you have, and be glad that you had the foresight, you were the 1% or less of the population that actually understood what was happening around you, and had the wisdom, and courage to prepare yourself and your family from the things that were going to happen. All said and done, I will always be prepared to buy something I have the fiat for if the deal is good, and it's something I wish to add to my stack. The spot price does not deter me from this - I look every day, whether spot is up or down. (sorry for the long rave/rant!)
Good rant Midnight Man. I have some numismatic, some SHTF predecimal fractionals, some investment rounds, a bit of everything. The spot price does effect the stack to which I add. I always hear the argument that in X years time you won't care if you spent $40 or $50 but of course the cheaper you can get it for now the more you will have in X years time and the more profit you will have made. Plus it is the money you have available now which dictates how much silver you can accumulate, no point in spending your future fortune before you get it.
Yes good rant I am in the (3) and (4) as well. I know you are right and I do believe in the fundamentals so, I hope I have the balls to make the decision in the next day or two. I set a goal of "just below $30 and I would have been happy to buy then and when it fell to $33 I did indeed buy a bit but I was going to buy more when it fell further - it did not :/ but I feel I have to jump in and think exactly what you have said above. Ride the lows and highs and just think back at the $40 mark when it is travelling at say $80
I'm in the same boat as you, I bought some when it was around $34(ish) and was waiting for it to hit $30 to buy quite a bit more but that didn't happen, I bought some gold and silver lunars recently and it doesn't look like I'll be buying much for a while.
I also set a goal, just above $50 and I would sell enough to cover all my costs, then the bottom dropped out. You can wait and wait for an arbitrary value in order to make a big decision and that is fine but a bit risky, or you can deal in small amounts often so that the changes level out. You don't get the massive gains but you won't take a big hit either. The idea is to grow the stack at a rate you can afford and not worry about the money you might have made if only you had sold earlier or waited a bit longer before you bought. People were getting quite stressed when silver was going up, not sure if they could afford to stack any more but not wanting to sell in case the price went up even further, that is not a good place to be!
And that is why I'm not buying at the moment, it isn't slow and steady so there is every chance it could fall again.
I'm also in the same boat - I bought some at $37 but then waited for the big drop everyone said was going to happen after the end of QE2. Well it did go down to low 30s but not as low as I thought it would and I have been waiting ever since for another buying opportunity but I got that terrible feeling that it could start going up and up and up and not come back down! All the indicators are there for a big jump up very soon. Somehow I just dont think we are going to see the low 30s again!
