First lesson, PMs are are not wealth creating, they are wealth maintaining. PMs are not investments, they are money. You are currently speculators in PMs. You need to read more, understand what PMs are and then you will understand better and sleep more soundly at night. Don't worry, you have not wasted your fiat.
I held off until buying today. It was more luck than anything, my paycheque cleared 3 days late. If it cleared earlier, i would have bought at the peak. But really, that $100 saving means nothing now. Just give it some time...
Who is saying this? And for what reason? I can't understand why anyone would think it will drop after friday?
I am in it for the longer term .. doesn't bother me at all as I reckon the REAL value of silver is much higher
I'll reiterate a story that may appeal to some who are just starting out on the stacking front. Remember the big financial hullabaloo in 2008? A year earlier (early 2007), something in my gut told me that things weren't as rosy as they appeared, and I did a bit of reading online, stumbled across another set of PM forums, and ultimately bought a little silver. I paid around $16-$18 spot plus premium (and maybe some times too much premium). And maybe I could have bought things in better sizes. I also remember at the time, wondering whether I had done the right thing. Ultimately, after a time, real life got in the way, and I boxed up what I had and stashed it aside, forgetting about exactly what was there, and most certainly forgetting about what it was worth. Now, maybe I have a strange gut, but earlier this year, I said to myself "Self, you have this silver stashed aside, and it's time to get it out, count it, value it, and see what's been going on in that space in the last few years". Hence, I now found these forums, and got involved, made new contacts, and learn and understand much more than I did back then. Point I'm making - you think today I care, or have a clue whether I paid a shekel or two too much for the silver I have? Or what premiums I paid? Answer is no - I figure I doubled my money in fiat terms - and most importantly, the fiat amount I spent on silver back then has not been ravaged by 4.5 years of inflation. Yeah, I'm happy, and have started adding to the stack again, even though at the moment, fiat is a bit tight - but I make the room for it. I believe one day, with inflation, and debt problems, we here will all come to realise the true value of PM's, and however many ounces of gold or silver you have, you will feel lucky, because you know you are that many ounces in front of 99% of the population. And yes, I believe that will matter, and even while I hope this doesn't come to pass, maybe one day, those ounces you have may literally save you, and your family from starving.
It's all my fault O_O I'm not being a drop bear (not selling afterall), but I've been saying that PMs are gonna get ambushed by the big boys. I was waiting for either JPM or similar to speculate bearishly and pump up stocks to get the ambush happening, or QE3 (though less likely).
The market is volatile so the best strategy is to use cost averaging to smooth out the swings. Buy at regular intervals - I'm trying to buy every three weeks. Except the dragons have just saved me from buying this week but then who knows what the price will be on the 1st.
I wanted to sell my paper at 1800 but i was too slow on the draw so missed that opportunity. i will probably sell if it gets to 1850, but you just have to be so quick
Like where it is now .. maybe around 40.00 is the new "average" .. for a little while .. before it of course goes up!
Prices just headed north by > $2. Silver, volatile like crazy in the short term but clear winner in the long term? Just need to keep Bob Chapman quiet and Silver prices will go up... :lol:
It is very frustrating to purchase something only to find you could have got if for much less a day later. Some say you should stage your purchases so as to average the ups and downs - but that doesn't always work when prices are generally rising. As everyone seems to be saying here - you've got to NOT look back and in time hopefully your stack will have appreciated in value. Just remember that everyone on this forum that didn't sell at the peak has lost potential gains. Being able to sell at peaks and buy at troughs is impossible to perfect.
I find it a bit amusing that people say that precious metals are volatile and risky, and then go and invest their money in the share market or housing market just as North America and half of Europe is near a stage of sovereign default. Unless you want to leave your savings in a bank or a biscuit tin you have to invest in something, physical gold or silver is no more risky than buying shares in companies at this point in history.
This is not frustrating, what is frustrating is you time it right and knew that was the dip. Went to buy during lunch time, lines are 2 hours long. You can't buy. Now the opportunity window has closed and the price has reversed this is frustrating. =D Slam
Nope. Last purchase was less than current price. Best not to jump on "runaway trains". Anecdotally people seem to panic buy when the price goes up and panic sell when the price goes down.
