Bailing out after 6 years

Discussion in 'General Precious Metals Discussion' started by GF, Sep 26, 2019.

  1. GF

    GF Active Member Silver Stacker

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    Six years of stacking, flipping, having fun, learning..its been awesome but over the last 12 months I have been slowly selling silver to the point where I only have a few sale posts to go and that will be it.

    In 6 years I most likely have lost a bit from a financial position but from a hobby perspective it has been totally worth it.

    With gold going up I have hit my investment goals and last week I down sized my SDB and put some of the very last silver up on the trading forum..the rest over the next week.

    I wanted to post a thankyou to everyone who has helped me and traded silver with me since joining.

    Cheers

    GF
     
  2. yuripuka

    yuripuka Well-Known Member Silver Stacker

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    Well that is sad.

    I have really enjoyed trading with you over the past few years.

    I will miss you.
     
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  3. ozcopper

    ozcopper Administrator Staff Member

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    Does that mean you still have and or are stacking gold?
     
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  4. GF

    GF Active Member Silver Stacker

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    Yep..thats right oz
     
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  5. 66rounds

    66rounds Well-Known Member Silver Stacker

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    You are not alone in bailing out of silver, I have done similar. Sometimes I wonder if Ive done the right thing as GSR suggests to buy silver now, but I'm too worried gold will be unaffordable In the future where as even if silver hits $100 an ounce I could still afford to stack it if it made sense to
     
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  6. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    All boils down to price. Even though gold isn't at record high in USD, but gold is expensive in SGD and even more expensive in AUD on a 5 year timeline. What if the trade war is resolved and AUD suddenly appreciates against the dollar? Gold is not without risks.
     
    Last edited: Sep 26, 2019
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  7. Ipv6Ready

    Ipv6Ready Well-Known Member Silver Stacker

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    Congrats on reaching your goals.

    I’m like you, but stopped buying gold altogether at the moment. The moment there is a recessionary spike I’ll dump the lot to buy again when times are good.

    I only buy Silver as a collectible, I don’t bother with rolls etc if I can’t display it (lunar in case) or use it (cutlery) it has no place in my collection.
     
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  8. 66rounds

    66rounds Well-Known Member Silver Stacker

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    There is always a risk you are right, but I can counteract a falling gold price by cost averaging down. As I'm still accumulating, this would be the better outcome for me than an increase in gold price. But the risk of gold hitting 2000 usd an ounce and becoming too expensive for me to buy is greater. We can only plan for the worst case scenario and hope for the best. At the end of the day I prefer gold over fiat regardless of any loss in fiat value. It is my savings strategy. Fiat flies out of my hand like I'm a kid at a candy store, but every dollar I convert to gold has stayed in my hand so far.
     
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  9. openeyes

    openeyes Well-Known Member Silver Stacker

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    Couldn’t of said it better
     
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  10. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    It's the same with me. I keep out a couple hundred bucks for food or gas but everything else goes either towards my land, metals or gun stuff. Cash evaporates too easily.
     
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  11. SilverDJ

    SilverDJ Well-Known Member

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    I got lucky to come in at the right time and bought most of my silver around the AU$20-$21 mark, so for me it's been a win. But it's simply lucky timing and buying the dips along the way.
     
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  12. harry_mr

    harry_mr Active Member

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    Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.
    I keep this in mind.
     
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  13. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    I'm with you GF.
    7-8 years of silver has taught me plenty.... especially about the internet pumpers and how they roll.
    I just sold the last of a six-figure silver holding, and kept a couple of oz's of small coins as a keep-sake.
    I did come out ahead, but only marginally. But couldn't give up any more opportunity cost on my lucrative paper trading..... capital is king.

    Gold however is another story. It has been a stellar investment for me over that time, so I continue to hold. :)
     
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  14. alor

    alor Well-Known Member Silver Stacker

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    it would have been best to just concentrate on palladium for my case
    all the saying about selling to who had been proven wrong, just that the discount was no good to spot
    silver had doubled none the less, provided it was purchased before the rise, its just not possible to separate day and night, they are joint together
     
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  15. madaw1

    madaw1 Well-Known Member

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    If you got extra cash don't keep it in the bank, just buy 1/20, 1/10 and 1/4oz gold lunar coins- don't worry about gold prize-you will be laughing in 10 years time.
     
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  16. Silverbandit007

    Silverbandit007 Well-Known Member Silver Stacker

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    I am at the same point in my stacking, a few more sales posts then time to focus on other aspects in life and take a break. It has been an enjoyable hobby and I have made a couple good friends along the way.
    All the best.
    SB007
     
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  17. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    There was a pgm expert on kitco forum who bought 50 pieces of palladium a couple years ago, he sold some and bought 50 pieces of platinum.

    At the end of the day, it’s the number of ounces bought that matters, not the price you bought because price will go up if you wait long enough.

    1000 oz of silver = $1000 profit every dollar rise.

    50 oz of platinum = $5000 profit every $100 rise.
     
  18. SilverDJ

    SilverDJ Well-Known Member

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    Only if you sell.
    The issue with holding metal over a very long period of time is that it's not compounded. If you need to sell a the wrong time, and/or you bought at the wrong time, you can make a loss.
    Silver for example has a history of taking up to 20 or even 30 years to get your money back if you bought at the wrong time, let along make a profit.
     
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  19. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    This is true but the current long term risk for silver and platinum is much lower than stocks, being close to production costs (for case of platinum it is below production cost and only subsidised by $1700 pd which is almost a 1-to-1 produced “by-product”).
     
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  20. alor

    alor Well-Known Member Silver Stacker

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    by 2024 Russia would produce 50% of the world annual Platinum output, if people think that Palladium is controlled by Russia, then so would Platinum be
    worse is they could continue to dump all their output into the market every year, a likely scenario for $200+ Platinum price https://www.rt.com/business/473723-russia-palladium-project-arctic/
     
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