you can sell your silver here very easy, and since you are in Melb., face to face, same day won't be a problem either. I had been there! Do not have to worry at all!
mate - cash is like a white hot coal ... i dont hang on to it for longer than a nanosecond! i exchanged some silver (real money) for other goods and services... i dont keep cash - ever! :lol:
Cash would not leave my account unless I thought I could guarantee a minimum of 10% and am fairly confident of a 20+% annual gain. I would have been into physical PMs around early 2008 but figured I could make much bigger gains 'punting' and using the gains to push into PMs at a later date. About 6 months ago I had to make a decision, sell some assets to pay for an off shore fishing boat or get a loan and hopefully beat the interest rate from the bank with the same cash invested. I got the loan.
Silver satisfies my hunger of buying something tangible, but is also a good wealth store and rarely depreciates.
You are a god. I don't praise much but this my friend - is gold (yes I notice the irony). As I always say - keep 20% of your portfolio in cash - dry powder is what gets you the bargains.
Hope your not under the impression that I've only been in PMs for the last 3-4 years. If so, then your seriously mistaken. I've been trading for at least 12 years. Since 2001 (last 10 years), it's been predominantly gold. Had I listened to all the "its in a bubble talk" which has been also going on the last 10 years, I would never have invested and never been in a position to regularly capture profit.
Point was more to highlight that you can cherry pick anytime and make an investment look good. In this case you highlighted the last 4-5 years. I was just highlighting a previous period to make cash look better. You could probably highlight a different period to make the metal detector look good malachii
To be honest i'm very disappointed in hearing this imminent news of the reduction in PM prices. It's nice to put a positive spin on it and yell out that it's just another buying opportunity, but i would have rather have bought ALL of my silver during this buying opportunity at this lower price, rather than having forked out so much previously for nothing. I would really like to start seeing some profits by now... to have to wait longer and also see my stack depreciate in value is really annoying... Luckily the fundamentals point to long term growth so at the end i'll be up. Could have been earning good interest on fiat though to spend on MORE silver if i had of just waited longer.
Yeah but I wasn't cherry picking to make any investment look good. The FACTS are as they are. And I didnt' get the detector in a different period, and so it doesn't look good because the reality is I got it when I got it, and I still have it. If you want to have a downer on your investments or investment period, then thats your choice. But you won't be pissing on my sunshine "sunshine".
i heard that you could make a tidy profit buying handbags such as the hermes birkin as well! and they don't depreciate much, some even go up due to rarity.
It really depends on what your average cost is per oz I think. I would take 10k in the bank today over 10k in Silver, simply because I think something is going to happen soon. My average is low enough that I can ride out any disasters, probably even a GFC, and while i'd go to square one again at $20/oz I would not have lost anything. I really beleive in Silver don't get me wrong but I wouldn't dare buy to raise my average price into the $40s, at least not with so much uncertainty flying around. I realize my thoughts put me in the minority here but that's my take.
