Just wanted to introduce myself. My name is Kevin and im from the UK, in full time work and was one of the sheep following the herd like 95% of the world. It was 2 weeks ago i started looking into the possible/likely economic crash worldwide we now face. I wanted to know if the 99%ers (middle class) could do something to protect themselves. So i watch videos, read blogs etc. And found silver and gold is the way to go. Right now i have almost 30 oz of silver, not much, but a start. I plan to add as much as possible over the next few years or as long as the current economy can keep afloat. So any advice you can offer, the do's and dont's would be appreciated. I certain feel better knowing im doing something to protect my wealth and possibly increase it.
Hi Ya Kevin welcome if you talk to anyone who has brought silver in the last 2 years or so they will tell you they have managed to decrease their wealth by 100% if not more some less than that but you get the picture. I have had my fingers burnt twice buying silver once buying in 2007 and didn't wait wanted to get out and then buying in from 33 ish $ and the market crashed. what am I saying this market is all about timing for small frys like me otherwise we are the 1st to get burnt. so I have had no luck with my timing my suggestion is going for rare to semi rare coins, its not so controlled by the big boys rothschilds etc...fed reserve..... look people who brought gold @ 400 $ an once and held it till the boom in 2011 or whenever it was they kicked butt, so yes there is cash to be made, but timing is everything and selling it and getting out is paramount then waiting for the next crash to buy it and being willing to wait several years or more to cash in is how it seems to work. I am no expert but I have no emotional attachment to silver or gold its just like any other investment many lose so few can win that's the nuts and bolts of it.
I do. Question every "fact" you read about silver. . You're about 5 years late on the worldwide economic crash.
Hey guys thanks for the welcome. uuuuuuuumm, yeah it really is a timing game. Im trying to be as sensibly as i can and not go all in. I tend to have normal savings and then a fund of spare cash to blow on what i want. I see Silver as a possible hobby, as well as an investment. I have heard so many investors saying they are so dead cert on silver exploding they have gone all in, which is encouraging to hear. But im not willing to take that much of a risk. lol
anyone who goes all in Kevin has lost their marbles I have done it and its not a good idea, there has been so much crap advice on the net for years about silver and well 99% of it is about selling me something. I think you have a stable outlook on this and that's good emotion has no part in this game and sometimes reading too much on forums like this can drive a person crazy there are a lot of perma bulls around even though they are down on the investment. silver doesn't seem to be doing anything exciting at the moment and there are a lot of frustrated people around wanting it to break one way or the other, reality is it could flat line for years. history is the best friend we have I think as markets go in cycles. it was chaos when the price dropped to 23 here and people were buying crazy and they are still down on their investment so tread carefully and use history as a guide is the best advice I can give. i try and remember woolies wont take my blob of silver if i am hungry , and who knows what the future holds nobody ! so all we can do is live in today and do what we need to to best get our needs met. so try not to get too caught up in the SHTF and US and global crashes what i need to do is what's best for me today you sound like you are doing the best for you and that's the way to go well done
How is that encouraging? In a post above you were trying to break away from the 95%.. You've just joined another group of 95% ers Just because we were once at a price doesn't mean it's certain to go back.
Thank you, you pretty much nailed it on how i feel right now. Worrying about something that hasnt happened and may not even happen is pointless. Im not looking to become super rich or anything, just cover myself for all possibilities. But have fun with it.
Im encouraged by the fact its some of those that are already wealthy, not those in the 95% bracket. But as im new, never done much research before, most of what i say will not make sense and will be corrected many times. I guess buying anything like this will always be risky and uncertain. I will get a better understanding on how the system works, but can atleast enter the market while im able.
Buy on the way up and sell on the way down....unless you like your silver and gold too much to sell... or Buy limited mintage semi numis and proof coins on the way down and buy eveything on the way up.... or Buy everything on the way up or down and don't sell anything until after you die.... :lol:
Haha yeah, i will continue to buy while around the current prices. Im in no rush and don't expect to hit the jackpot anytime soon. But it will go up, how much, who knows. Like you said it really is simple, buy low, sell high. Right now im seeing it as a bit of fun and excitement, which could give me a nice bit of extra income.
So you're gonna enter the market anyway just because you feel some type of " I must get in right away"? I strongly encourage you to look at a few charts on silver.. The 1,2,5,10,15,20,50 year charts are eye opening. Silver has been a beanie baby/dot com get rich quick idea for a lot of people...Fundamentals always win.Silver is primarily used for industrial purposes. If you think the economy is going in the tank,which way do you think it will take silver?
Aloha from TaxsLOVEnia! The current temperature is around 25+ degrees, taxes are high and climbing, traffic is good (people watching (bad) TV news). Wish you a pleasant stay! Br
Welcome Kevin! I'm relatively new to stacking as well....I bought my first silver coin in the late Summer/early Fall of 2012. My first blob (non-denom bullion bar) purchase wasn't made until just in the past 2 months. You having 30 ounces already is a great start. If you look at the charts, you came into this at a much better time than many stackers who came in and bought when silver was considerably higher. My advice; learn as much as you can about how the markets work. Don't give any credence to those who come off as sales pitch people....in all likelihood, they are. Avoid heeding the advice from permabulls (those who constantly claim that the price will go up tomorrow and provide confusing, often distorted charts to try to bolster such unsubstantiated claims). Be a smart stacker not an impulse buyer. Look for bargains even when the spot is low. Follow none. Pay attention to those who offer instructive advice rather than incessantly boisterous doomsdayers. .
Question for Bama.. In what way have the "fundamentals" played a roll with silver since 1981? And what the heck are "fundamentals" anyway, and how do they "win"? Sorry for sounding rude. @Kevin hello and welcome Careful now, an addiction may be in your near future
Fundamentals now are record high supply & lack of demand. Silver rolled along from the early 80's until a few years ago pretty flat until an economic downturn and wild speculation drove the price to astronomical levels. The advent of silver ETF's allowed people to multiply their investment on margin creating a bubble. It burst around $49 but still leaving some people with the bullion,beans & bullets mentality that the world economy is collapsing. Fundamentals = smart money & common sense. There's not a lot of people looking to gold & especially silver as a safe haven asset anymore.
That response unexpectedly made sense. Thanks. And you're right. There isn't alot turning to gold/silver as a safe spot for their assets. But if we are referring to physical, it's a much safer place to be than say, fiat, IMO. I don't believe it when they tell us the economy is making a turn for the better, new jobs are on the rise, and everything will be ok. Especially when they continue to print $80billion a month. Red flags are what I'm seeing..
I would take anything Bamaguy says with a grain of salt. He is a perma bear if you will. I like to hear the bears but a join date of yesterday and all I have seen are post trying to persuade people away from silver. Why join this forum if your only goal is to tell people silver sucks and its so overvalued. btw to the OP good luck and you will learn a lot from this journey into silver and keep your eyes opened to different investments. One piece of advice is to buy when everyone is complaining the spot price is going to keep going down. Sell when everyone is jumping on board saying silver is going to da moon. The other posts are helpful and maybe you can diversify your silver like buying Bullion, semi numis, one or two numi's after you take some time to study what you like and what is in high demand. I personally have done really well with Morgan Dollars and Silver Panda's. I also have done well with China Silver Dollars on ebay. Rare size bars for close to spot are always nice as well. Odd weights like 3oz, 4oz, even some 5oz bars are worth double spot but some dealers sell them the same as any other bullion. As you continue to learn you can take on more risk.
