Well first and foremost I would like to thank the use of forums such as this one as it has help advance my current knowledge of what true value is. I just got into pm's about 4 months ago, as I ussually take about three months of study before I do anything when learning about something old to everyone else but new to me. I've acquired lil less than 100 oz in these past few months now that I understand (barely) how silver and gold work in terms of their financial value and wanted to share what angers me now for not knowing and the mistakes I've made messing with banks. In 2009 my income was basically 5 times more a month than now . During that time period I had 10k in a few banks thinking I'm making the smart move. Im sure most of you know the interest to be gained from those positions and is terrible in comparison. During that same time period if at a reasonable set amount of 100 oz a month roughly during that 9-12 month time period i could have easily acquired roughly 1000 oz silver (17,000) USD (Im american). Now that is roughly 3000 less than those locked accounts combined. The 17k also includes price changes, newbie mistakes, shipping mistakes and maybe even being fooled by a few fakes. Now knowing MY OWN research methods more than likely I would have sold 500 oz somewhere in the high 30's no higher than mid 40's. Which then roughly 20k U.S. (fees mistakes and the like) while still having the other 500 oz which would be worth the same for a approximate total of 40k U.S.. That is almost 2.5 times more than the original investment. I've been pretty down about this for not being cognitive enough to pay attention to this, it is a shame that we love to spend currency and love currency related ideas but do not always understand how money actual works as far as retaining its value. I also had money in other foreign currencies but have sold most of that which is how I've gotten the lil stack i have now. Had i had the proper education or ran into that right person that laymenized this for me I can only imagine the possibilities. By the way most of your numbers crunchers already know this but the same amount into gold would have generated about the same outcome, either way i robbed my self out of tens of thousands of dollars and didn't even know it. That one piece of infomartion was the difference between having almost 1kg in pm's (mostly silver personally i like more than gold not for financial reasons i just enjoy the element itself) and just now having a 100 oz stack. Well thank you for letting me share my experience with yall and like its said better later than 5 minutes after its too late.
i know i lost a lot of money with PM about 6 years ago took me awhile to get over it, but back to square one and have learnt some lessons. probably different lessons to others we all have our own lessons to learn, so i understand it hurts and its OK to feel bad i just wanted to cry for a year or 2 if anyone mentioned silver or gold i quickly left the room. but am OK now and all i learnt was don't buy more than i can afford to sit on for the rest of my life and don't sell out of fear or to fund toys (things i can live without). for me now not a quick fix or turn around profit venture just a way of saving for a rainy day and having some fun along the way looking for what to buy with my limited funds, and enjoy the hobby. try not make it a life's work but have some fun and enjoy the journey and wonder how it will all pan out
Yeah, in 2009 silver was dirt cheap. I was still in the dark about all things money-related then. Really wish someone would have told me to put some money here. But admittedly this would have taken some convincing from their end, to make me ever consider it. It takes some education to know about what's happening to our dollars and cents to see alternatives as better for saving.
I was the opposite in that I knew of the currency manipulation scam some time back but never had the means to invest when it mattered most. I honestly don't know which would be more frustrating - seeing an opportunity missed because of a lack in capital or having the capital and missing the opportunity when it was there? The markets are very flat at the moment (I think we're in the eye of the financial storm started in 2008) and whilst global sentiment is still generally downward, I think looking ahead I'd much rather be in a real money position that trying to protect my wealth in fiat currency. If it helps you sleep at night, 100oz of silver (about 3kgs) in times past would have bought you a working farm, with serfs and livestock to run it with enough left over to retire comfortably. When the opportunity presents, keep stacking (I've had a horror 12 months financially myself so I can relate) and just bide your time.
Well you could just have spent the money on alcohol and had nothing at all to show for it, not even the memories. At least you have some precious metals and even better than that, some education and experience which means you will never make the same mistake twice. Welcome aboard.
Everyone has to pay for some kind of education, be it loses, fakes, overpriced junk etc... In comparison a few thousand now could mean a whole lot in time to come. Now with the new knowledge learned it is onwards and upward. Welcome aboard
If it helps, a work mate told me about the coming boom in silver in 2002, I didn't act until 2008! Don't get me started, and welcome! Alfie
I wish i had of known bout silver back then it wasnt til 2009 i started making decent money after i finished my trade, and my head was set on buying multiple houses and slowly letting them pay themselves out. I was told once by an old workmate back in 09 bout buying gold bullion over property, and i thought he was on crack. it wasnt til a year later, silver bullion was more throughly explained to me, that i got onto the concept of precious metals all together
In 2009, you could have bought APPL shares for $80. Dont stress. You didn't LOSE any money. There are millions of opportunities each and every day that pass us by. There is another opportunity (hundreds in fact) that will likely outpace silver lurking amongst the shadows right now. No point looking back and saying 'if only'
Hindsight is 20/20 EDIT - like that guy who sold his 10% of Apple at $8 a share in the 1980s. In 30 years that 10% has become worth something like $2 billion (citation needed)
Well thank you all for your encouraging efforts, i didnt want to sound to emo about but it was and sometimes is quite the annoyance, but as it has been stated there are many oppurtunities we miss everyday im just glad i finally seen what options i have. Funny part this is about the second or third time in my life thus far where i missed something like this the very first was when I was in middle school we had a project to learn finance and i had picked a stock just based on their logo really no research, wanted to put actual money into my teacher advised my mother it wasnt a good idea, turn out to be the biggest grocery business on earth. But i appreciate the input community knowledge is definitely a good thing, and the things i have learned here have drawn a few ears of friends and family, which is why most of us want stable investments in the first place. Thank you all I am very pleased.
