Good advice here. The problem is always the timeframe. I had a 10 year plan , which did not factor in being diagnosed with incurable metastatic cancer in year 3 ( don't worry - I'm curing myself, but no income means silver has to go) So, only bet what you can afford to lose.
Even dollar / euro / house is a bet just like any other. Some are even designed to inflict loss, and buying gold at a relative price that halved after 10 years, is the same as sitting with a bank account whose purchasing power in terms of what you intended to buy, halved over the decade.
2008, a year of also crazy price swings, and highdays of crisis, still had an average of USD $15. The problem is that there seems to be a tendency to use peaks and bottoms as reference. That allows to predraw any sentiment. Take for ex that 1980 with its $50 often used as reference. Yet, the average price in 1980 was a mere $16. Take now 2011, with its $50, again often used as a reference. Well, the average price in 2011 was $35. That's over twice the 1980 average. And the very same applies to decade averages. 1970-1982 was $6.83 2004-2014 was $18.11 So IF I had euro's to swap, and IF I saw shorts term indicators suggesting a good moment, I wouldn't hesitate a week to order. And why don't I have euro's to swap? Because I already swapped them when price was around $19-19.5 months ago. We have seen $21.5 since and I hope that stackers that didnt have the guts at the previous $19-20 saved their ammo for now or in the coming 6 weeks or so. It may not be the best time, but it will certainly be better. I won't forget that back in 2011, where I swapped most in feb, to then see $32 > $50, and in later re-upspikes, that there was no pessimism to read. Today's only difference is the direction.
I'm really new to the game but for what it's worth I'm gonna put as much maybe even a tad more money into gold vs silver and I think gold is headed sub $1k and silver sub $18 so Imy gonna hold off for a while. Well actually I need to hold off for a while but that's just a depressing reality...
Hi all I'm new to the silver stacking, just bought my first lot today(not counting the 1881 morgan silver dollar I got off ebay around 5-6 years ago for US$31), I always wanted one as a kid. I decided to chuck some cash in silver as I figured it was better to have something to show for my money as normally I would drink, gamble and generally waste it away. OK so I paid off all my debt first(except my truck which is 0.5% interest which is not even $350 over the course of the loan) and my mortgage which I pay myself and rent out so its getting double payments. I just kind of woke up one day and though grow up you silly idiot, stop wasting everything you earn. I have read a lot of DONT buy silver and a lot of DO buy silver. If I wake up tomorrow and silver is worth $1 an oz so be it, but I can still look at my silver with a BIG smile n think OOOOOO Shiny.......
Fact: you did today a far better job than everybody that bought since 2011. Whatever happens next, you won't be among the dumbest, like me with my $32 back then and still $30 now. Excluding dealer spread and tax. Including & selling back to dealer it's like byebye 50%. And there are quite alot much worser cases out there. $50-$32 is like 1200 Moz, over 1 worlds annual supply/demand, all bought when price was > $32. And every ounce had a seller, in that same price range. See, the money didn't vaporize, it just changed pockets. Something to think about when you read things said by sellers.
