Newbie needs advice on strategy

Discussion in 'Silver' started by Glenis, Dec 30, 2018.

  1. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    I'm about to start stacking but we're starting late. We're in our 60's but not quite old enough to get a pension/superannuation. Mortgage paid, no debt. Cash in the bank and we're thinking it's a silly place to keep it given the current turmoil in the world. The purpose of stacking is to retain the value of savings should financial systems go belly-up. I'm thinking of bubbles bursting and bank bail-ins. Because of our age, being able to sell quickly and easily is a major consideration should we need it in a hurry.

    The plan so far is a goal of 3,000 oz silver and 60 oz gold. I think that is sizeable enough to cover a SHTF situation to protect us and family - short term at least. At current rates that's about $200k NZD, we don't have that amount but can expect an inheritance within a 5 year period, but we can start building a stack now. However, when I started looking at the weight 3,000 oz silver is 85 kgs and I can't see a couple of oldies hefting that in backpacks and heading for the hills in a SHTF situation LOL We might split it into 3 or 4 parcels - family can cart their own. Thoughts?

    I'm leaning towards sliver coins; silver eagles, maples, Britannia and a Aussie coin. I consider these to be the most recognisable and therefore easiest to liquidate. I'll also buy a few 10oz silver bars. For gold - majority in 1 oz coins and some smaller weights in recognisable bars (Perth mint or Pamp).

    Am I on the right track?
     
  2. SlyGuy

    SlyGuy Active Member

    Joined:
    Sep 6, 2018
    Messages:
    259
    Likes Received:
    162
    Trophy Points:
    43
    Location:
    USA
    Hmm. I wound never "expect an inheritance." There dozens of ways that can go wrong there. Inheritance might be a pleasant surprise, but rely only on yourself. GL
     
    paruwka and ZaidaBoBaida like this.
  3. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    12,687
    Likes Received:
    1,764
    Trophy Points:
    113
    Location:
    Australia
    To protect savings I'd just stay with gold. Silver is speculation.
     
    Peter likes this.
  4. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    you don't know my mother ;)
     
  5. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,412
    Likes Received:
    1,281
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    1kilo gold
    100g gold
    some 1 oz gold

    then silver
    100oz bar
    kilo bars
    some 10 oz bars
     
  6. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    Really? - is this all easily convertible to fiat or tradeable? Bearing in mind Silver could be worth $14 oz or $150 oz. I'm trying to cover as many eventualities as possible including
    • Not needing it at all
    • SHTF where it may be traded for food, accommodation etc
    • Selling off slowly for additional income if there is no longer support for pensions.

    I'm ok with a little speculation but I take your point and may adjust.
     
  7. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    12,687
    Likes Received:
    1,764
    Trophy Points:
    113
    Location:
    Australia
    In a bit more detail. I'd consider a Sovereign collection or two - harder to confiscate and easier to sell as a small collection or a large collection. One beautiful collection sold in Sydney a few years back for a $1mill+. You can also sell your sovs one at a time for "pension supplement'. Sov collections are tried and tested for 100 years or more and pretty much failsafe in my view. Just see how fast sovereigns trade here versus all other forms of gold sales. Even bezel damaged and jeweller's copies go quickly.

    Perth Mint 1 and 2 Lunar series are a good second choice also although it takes a while to realise the PM markups.

    Personally I'd stay clear of much larger than 1oz AU. If they're valued at $3k plus, who will buy? Even at 1800 ounces are moving slowly here.

    Silver for savings, in my view, is Oz 50c pieces and 1oz currency rounds, but silver enthusiasts would likely disagree. The advantage of silver is that bugs will ignore all reality and hold on and hold on and buy yours when you put it up at spot - mostly, but a thousand or so 1966 50c rounds are a good insurance and fairly liquid - and easy to store.

    p.s. if you're travelling, I've found that .9999 PM gold is easily sellable, as well as sovereigns and Kruggerands (haven't tried others). Smaller sizes up to half ounce is best. Sovereigns, just go bullion grade. I have a sov on a chain whenever I'm travelling. Only needed it once and it was an instant cash injection when I lost my wallet courtesy of a very clever pickpocket I think. (since learned to store ATM cards separately, passport separately to wallet, and leave home all irrelevant local paperwork btw)
     
    Last edited: Dec 30, 2018
    GF, Peter and Glenis like this.
  8. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,412
    Likes Received:
    1,281
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    yes, that would be ideal stacks
    there are many ways to get to the destination

    make use of the gold silver ratio 1:85+
    buy silver now since it is near the low, eg kilos then later convert/swap them to gold when the ratio fall, convert the gold coins into low premium bigger gold bars etc
    buy silver when there is discount or on sale promotions etc, buy the price dips, ie 1 year low or 2 years low etc
    use cash to stock up some food, not much really...so that you would not need to take out the silver to barter
    there are many preparedness videos on YouTube to check out if their plan fit your living style
     
    Glenis likes this.
  9. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,412
    Likes Received:
    1,281
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    recently many people are trying to sell gold for spot, there are plenty of gold for sale in the silver forums
    the price in the major markets are high, since the demand for gold from central banks around the world, Russia and China took in close to >500+ tonnes each year off the market, the world gold production is just 2500 tonnes each year
    bigger gold, how big, Both India and China would swallow them easy, just sent them to Singapore

    silver is rather left behind, but move erratically up in the last 3 days
    it used to move fast...21 to 8.50 then 17.50 all the way to 49++ then yoyo to 14

    bigger fish would only bite bigger bait
     
    Glenis likes this.
  10. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

    Joined:
    Jul 20, 2014
    Messages:
    5,678
    Likes Received:
    629
    Trophy Points:
    113
    Location:
    Melbourne
    Welcome to the forum!

    No, it's not too late to start stacking but don't wait too long because PMs are in a long term upward trajectory. But who knows they could skyrocket soon?
     
  11. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    Thanks for the welcome. It's only going up because I decided to buy. Within minutes of my purchase it will drop again. Joking aside, I plan to purchase ASAP. I'm heading to my nearest PM seller next Thursday - the first day they are open, I just want to be comfortable with my choice of supplier first or I'd have ordered online. However, they don't hold much in stock and I'll have to order and then wait for it to arrive. I was curious to see what others recommended buying before making the big move.

    It would be nice to be in the right place at the right time for a change - buying as the price increases or skyrockets, but that's not been my luck so far.
     
  12. ozcopper

    ozcopper Administrator Staff Member

    Joined:
    Jul 17, 2009
    Messages:
    16,183
    Likes Received:
    2,065
    Trophy Points:
    113
    Location:
    Australia
    Glenis likes this.
  13. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    I can see a revaluation of gold coming, I believe that's how China is going to get out of the crap. China is also using gold against the petrodollar, the more it's worth, the better for them. Never underestimate the Chinese or Russians. Trump likes to make out he's got the upper hand over China, I'm not so sure, the Chinese are NOTstupid

    Silver is the poor man's gold however it has a lot of advantages. *my opinion only* It would be eaiser to trade than gold because who has change for 100 oz silver block? Silver has more potential to multiply its current value many times. You hold an asset that many industries need so unless they develop 'fake' silver, there will always been a market. Even people on a modest income can stack silver, just takes time. Silver has been the Standard (Silver Standard) more than Gold. When the world's economies crash (big crash or little crash) I believe silver will reset to 15:1 - 30:1 because the mining and production data ( that I've seen) better support to a 15:1 - 30:1 ratio. It will still be much cheaper than gold, still affordable but maybe buying single ounces rather than kg's.
     
    JohnnyBravo300 likes this.
  14. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

    Joined:
    May 25, 2018
    Messages:
    1,224
    Likes Received:
    603
    Trophy Points:
    113
    Location:
    Singapore
    China is facing the biggest property bubble the world has seen and one of the worst wealth gap in the world (probably only India is worst), and it remains to be seen how they can get out of it without either a social or economic crisis or both. There's a reason why the wealthier Chinese are buying properties in Canada (BC) and Australia, and to a lesser extent Singapore and NZ. All wealthy Chinese fear a revert back to communism and if that day comes, they need a way to abscond. Of course, when you abscond, you don't carry the Renminbi, you bring out gold and diamonds.
     
    jultorsk likes this.
  15. alor

    alor Well-Known Member Silver Stacker

    Joined:
    Jun 16, 2011
    Messages:
    7,412
    Likes Received:
    1,281
    Trophy Points:
    113
    Location:
    Pulau Alor ;)
    the BRI is earth breaking, to a Eurasia and Oceania
    the trillions dollars infrastructures projects would make the last property boom like a minor bump
    once the projects are completed, the confidence of using USD could be forgotten
     
    Aurora et luna likes this.
  16. SilverDJ

    SilverDJ Well-Known Member

    Joined:
    Nov 1, 2014
    Messages:
    3,635
    Likes Received:
    766
    Trophy Points:
    113
    Location:
    Australia
    It won't be worth $150oz, don't believe the crazy pumpers. Look at the historical graph, it's only spiked twice in over 40 year. You'll likely be dead before the next spike, sorry to say.
    And don't fall for the "but this time it's different, the system collapse is coming soon. It's a fantasy.

    upload_2018-12-30_19-2-21.png
     
    JOHNLGALT likes this.
  17. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

    Joined:
    Jul 20, 2014
    Messages:
    5,678
    Likes Received:
    629
    Trophy Points:
    113
    Location:
    Melbourne
    Buy some sizes of everything because it is more important to have a stack now then having no stack in this current climate where PMs are likely to spike sharply soon even though they already have in past week.
     
  18. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,188
    Likes Received:
    716
    Trophy Points:
    113
    Location:
    Country Victoria Australia
  19. JOHNLGALT

    JOHNLGALT Well-Known Member

    Joined:
    Apr 3, 2017
    Messages:
    2,188
    Likes Received:
    716
    Trophy Points:
    113
    Location:
    Country Victoria Australia
    Yep, measured in Kilo's in $AUSSIE is my favourite size of measurement.
    You get more bang for your buck with kilo's, wouldn't go any larger though for liquidity (resale) reasons.
    If you are expecting a SHTFan scenario, then a few dozen 1966 round 50c. coins is a good idea.
    If you are buying silver, no use mucking around with ounces, lol.
     
    Last edited: Dec 30, 2018
  20. Glenis

    Glenis Member

    Joined:
    Dec 25, 2018
    Messages:
    37
    Likes Received:
    25
    Trophy Points:
    18
    I've not really bought into the $150 ounce, or the $56k ounce, or the ounce of silver or gold to buy a house either. I do think there is plenty of room to move up from <$20. I have bought into the 'worst recession the world has ever seen' so silver and/or gold are to store value so we have something of value to trade for the stuff we need (if it comes to that) and we want to have less cash in the bank in case of a bail-in.

    We're limited with what we can do with savings/cash. We don't know much about shares and believe there is a major crash coming and so we'll stay away from those. Crypto's are too volatile, I'll consider BTC when it gets under $100 which may be never. The choice seems to be gold and silver, for better or for worse.

    Go big or go home you reckon? :cool:
     
    JohnnyBravo300 and JOHNLGALT like this.

Share This Page