You wouldn't know it looking at my ridiculous post count by I'm relatively new here. Most of my silver purchases have been while its been under $20 aud an ounce, the most expensive bullion kilo I bought was under $675, the rest for less than that...I've sort of gotten used to this but we're pushing $20aud an ounce and looking at perth bullion a lot of their kilos are pushing the $700 mark. I suppose my point is, after this prolonged period of low prices are you psychologically prepared to buy a perth mint kilo next year if it costs $850? Because I'm not sure how I'd feel about it. And if it's over $1000aud a kilo? That just sounds painful. I suppose it will be much easier if it looks like what you buy one day for $900 you can sell for $1100 the next month, but I feel a little like I'm wedded to buying at these low prices. Is it easier for those who started in or lived through the high prices of '11? Do you think we'll all adjust? Let's say things get crazy and silver hits $40usd/$50aud and a new perth mint kilo costs $1700, could you bring yourself to buy it? Maybe it's just my myopic vision, I'm sure if I was trying to explain to people back in '04 how wildly excited I'd be if I could get a kilo at $600 they would think I was a raving idiot. Hopefully the circumstances of any future price increases makes believers out of most of us otherwise we won't have anyone to sell our silver to. So how about you, are you planning to buy and sell all the way up and down regardless of price or do you think you'll come upon a hard limit, psychological or otherwise, at some price point?
It sounds like you have done very well for yourself and snapped up some good bargains I too have recently started stacking / collecting but I went and poured a lot of money into Lunar and other high premium silver But to answer your question it all depends on what I am looking at getting but for normal bullion bars and coins regardless of spot I now wont pay more than $22-$23 and Oz Premium items like the 5 Kg Arc coin or more Lunar I will pay up to $30 p/oz. The mistake I had made was before I stumbled across SS I was paying $45-$50 p/oz. via helpful bullion dealers..... never again
what choice does a buyer have? spots :lol: if buying less than 1000 ozs the amount would be small anyway. 5000 ozs then there is a contract size difference.
If the price of silver goes up, separate the dividend from fiat and think gold. If both metals rise in price, silver traditionally increases at a faster rate than gold. At some point the GSR may drop to under 50, maybe under 40. At a particular point where it appears the GSR has bottomed, sell your silver to buy gold, or simply trade it for gold. Once the market plateaus, GSR will increase and if you're astute enough, reverse the process. I say this believing that at some point, the economy will crash and any fiat you have not spent on metals will be worthless. So in answer to the OP, yes I'll keep buying on the way up.
I've also split my money in part with higher premium lunars and kooks. Ill be very curious to see how the premiums hold up. Will the things I bought at 50-75% over spot will hold their premium percentage wise over spot? As for doing well, that hasn't happened until I sell at a profit but I think I'm half way there. I wonder if we will see an explosion of new stackers on the forum come the bull market. Things might get busy around here come $30 silver.
Buy a little here and a little there for fun, you could spend your money on worst things. Otherwise buy as much as you can while we are in a bear market, which we are now. You want to buy as much as you can now so that you are happy to ride the wave up when it does happen and not feel that you missed out on the buying opportunities. IMO that would be worse than waiting for prices to go back up if there was a dip after accumulation.
Come 9:45 am New York time, if it's still going up then it's probably a good time to buy, if it goes down it's gonna go down like a sack of spuds. I read that in my tea leaves from my midnight cuppa.
Don't buy kilo coins as ease of resale is important for me. Buying with silver at $40-50 would have to be special situations. More likely I would be selling at those prices. Nice bounce in silver right now back to the late November-early December high around $16.80USD.
Holy heck. Wasn't $16.69 (or was it $16.63?) usd some key price point silver had to break to indicate a break out? Let's hope it keeps up until close $20aud silver. And the world isn't ending. We're through the looking glass here people.
My origional buy in price was 20usd an ounce. I've grown confortable at that price and did majority of my purchasing around there. Even when spot dropped I was buying higher premium silver keeping each coin at around 20usd an ounce. I felt better buying at 20 then these lower prices, strange.
I am not a charting expert, I just look at simple indicators. We are back to the high area from late November-early December ($16.80ish). We are above the next high ($16.66-67) that occurred after the $16.80 area high. The pattern may be morphing, but silver has to get above the $16.80 area for me to consider a pattern change. For example, if silver ran up to $17.00, I would decide that a different pattern was in play and change my investments accordingly. And as I type this post, we are testing the $16.80 area again.
The markets are moved by fear and greed. So is stacking! I guess when price start climbing, more will get in like drooling camels. No, you were not a "raving idiot" If you saw the price climb coming as early as 2004, then congrats! It started increasing a bit now, we'll see whether it's just a "hick-up"... There are more rumours and predictions of gold and silver prices climbing towards the end of the year. That would be rather unusual. Prices took off now, but I can also imagine a dip during the last week of December.
