I'm just saving silver because I'm bad with money Although I find all the other parts of the economy you learn about while following gold and silver to be quite interesting.
@House, I want to use that big flow diagram chart in a post I am trying to educate new users about stacking. Do you know who the original creator of it was? The link is dead now but I thought you might know. I want to seek permission for re-use and credit it appropriately.
According to this article from BB: http://www.bullionbaron.com/2012/10/ It was @Jislizard who created it
The CRYPTO Stacker The CRYPTO Stacker is a unique stacker, with some not to unfamiliar traits. A Zen master of the zero’s and one's and true libertarian futurist, the CRYPTO Stacker is the ultimate rags to riches fairytale that thrives in the new found realm of decentralization. Your traditional stacker, particularly the PURE Stacker, was initially very wary of the CRYPTO Stacker, however over time has come to admire the flamboyant risk taker if not envy this new rooster in the hen house. Although doubts still remain about the CRYPTO’s ability to survive a SHTF scenario, the wiser amongst them convert this newfound wealth into precious metal; unfortunately more often than not it’s in the form of a Ferrari. It is the CROW Stacker that is most likely to befriend a CRYPTO Stacker due to their natural attraction to all things curious. Deep down the DRAGON stacker, closely allied by the most ardent of metal purist wish to see the demise of these new found Crypto Crusaders back into the ether they came from. The true origins of the CRYPTO Stacker are unknown, however it is thought by many to have conspired in the fertile and creative mind of the itinerant GEN Y Stacker. Whilst the DRAGON and CRYPTO Stacker occupy opposite ends of the stacker spectrum, it is considered both can share the same fate of loosing it all …… Cheers Audeamus....
Looks like I'm an Uncle Scrooge stacker, except for your last point. My stack isn't big enough yet to safely dive into head first, but I do occasionally dump it out on the counter and run my hands through it whilst chuckling to myself.
For me it's the understanding that many years ago cash money was backed Gold and Silver It is not any more but on a personal level buying silver with some of your money is to back your finical life as it once was . Sure i'd like to have sufficient income to back each dollar with a dollar of silver - wile that can't be , any Ounce amt is a step closer . I feel it's important to buy silver each week regardless of price that way you purchase as income averaging , Pick the AMT to spend Stay firm to do it and get the ounces , a great thing for me was my silver start at forty PLUS dollar range . At under $30 silver is a bargain .
Worth a bump I thought I started as a Crow Stacker......but turned into an Uncle Scrooge stacker. One advantage, is that I now get to fondle my silver , instead of just admiring it through a small plastic window
Not sure what sort of a stacker I am these days, probably a Reverse Stacker. I am unfortunately in the difficult financial position of having to sell some my gold and silver just to survive. I just hope I have enough to keep selling for another 10 years until pension age.
Yes, you are right there. But I tell you what, it hurts like hell having to sell at these prices, especially the silver. I guess I have no one to blame except myself. I shouldn't have listened to the gold to $10,000 and silver to $1000 crowd. Also, being a car assembly worker I did not expect to be unemployable in my 50's.
The majority of silver holders I'd say aren't seeing too much ROI. Hence tumbleweeds here. Gold is ok - modest gains. Stacking it at this price at this time, considering the progressively increasing price of living, seems to be an alternative way of savings. Saw a bunch of celery the other day for 5.90. Celery doesn't even have a net return on calories. Gold biscuits and minted ounce coins have low spread. It is a bit harder to get excited beyond that. Hopefully you are not hurting on gold. Not sure what to do with silver as it seems like a long time between drinks.
Got a chuckle from the celery comment... Lol Regarding the tumble weed, out of interest I was reading through the 2011-12 posts the other day. Replace the word Silver with Bitcoin, and you could have been in any Cryptocurrency forum. Interestingly, a lot of the familiar names back then, that are still active today, were preaching restraint. I ain't here to get rich, quite the opposite. It's to stop me going broke by spending all my money on "stuff" that depreciates the second I open the shiny new box Even if the price of silver halves tomorrow, I'll still have more of that money than I would have had in twelve months.
I am 1/3 Currency hedging stacker (read AUD can poop itself) 1/3 Long term stacker (who knows, maybe one day silver will go up, maybe a lot) 1/3 Collecting stacker. (Got every years kook now but have to re capsule and put them in a nice box) Plus as I'm retired and this is the best hobby I have ever had.
Yes, I am not hurting too much on the gold sales, but with the silver, it is another story. I went all into the silver in 2011/12 at around $30-$40 per ounce, spending over 100k. Thinking that $100 silver was a given. Reflecting now, I can see that greed got the better of me. The best advice I can give a new stacker is don't rush in buying everything in sight. Take your time and budget responsibly taking in the long term view. And pay off any debts first before investing in silver or gold. Don't end up like me, now having to sell silver and gold just to service my mortgage.
Ouch prospect, genuinely sorry to hear that. Must have been gut wrenching, watching the price go down. Hoping things work out for you
Thanks, Silver260. It certainly has been gut-wrenching watching the silver price go from nearly $50 to the teens. And being made redundant from the auto manufacturing industry has not helped things either. I am sure that things will work out for me in the long run, but I think it will be for the poorer and not the richer that I was hoping for. Oh well, such is life.
