Hi there! I'm currently a student and wanted to know what strategy would you guys and girls recommend me to buy silver? I can afford 1 to 2 oz consistently every month. If I do have extra money, I'll buy more. So what strategy would you guys recommend me to purchase it? :/ If I buy 1oz every purchase, postage fees would affect my average alot. Much appreciated, Bryan.
I never tell anyone else how to invest their own money. You do as you please. But what I am personally doing is stacking long physical, with a cost average strategy. That comes from understanding the fundamentals on silver, the economic/political system and acknowledging where I believe the end game will be.
So long term meaning? You buy at any price? My short term, sell when relative price > 1.4 My long term, sell when gold:silver ratio <= 16
buy whatever money you want to save. buy for the long term = 10 years + don't worry about the spot price too much. try to buy on weakness. buy low premium simple stuff. give yourself time to learn.
Hi Bryan. You can buy small amounts of silver from places like Bullion Bourse and Bullion List, and get them to hold onto it for you til you decide you have enough to post.
For me? Yes. I was buying below $15 US and buying at $48 US and still a net buyer today. I don't measure my stack in $$$, I measure it in ounces. The only thing $$ represents for me is how many ounces I can get each purchase. I'm not a day trader, I don't like to try and time 'dips' because my end game plan isn't based around short term trading ideals. But that's just view. I don't try and advocate what others do and you shouldn't base your strategy on anything less than your own judgement.
Oh okaay. Yeah, I plan on keeping it long term too or as a retirement fund. So I should just continue buying at any given price?
I make use of Goldstackers unallocated program where you can buy the odd ounce or two here or there, then when you're ready you convert that unallocated silver into a form you're happy with. Say 10oz bars, 1 kg Kooka, a tube of 20 of the Buffalos You can do that with Gold as well
Smoky, I was going to reply to this thread when I read your question, but in all honesty, it would simply be a rehash of exactly what Auspm said - he nailed my thoughts exactly. I do, though, remember the uncertainly and trepidation in starting to buy silver - I haven't been involved in this as long as others here, but I did start buying in the $14.00/oz range, and whilst I'm currently balancing my mix of gold & silver (and thus buying gold, not silver), I'd have no qualms in buying now, and had no qualms in buying at $40.00/oz or above. Over time, these differences in cost will balance out - and you can imagine that the ounces I bought at $14.00 (yes, I can identify them!), have placed many a smile on my dial
Alright guys! Another question, I have around 20 x 1 oz or so of silver bars. Should I convert them to 10 oz's and 5 oz's?
Oh okaay, I thought of converting 20 x 1 oz to 1 x 10 oz , 1 x 5 oz and the rest leave it as 5 x 1 oz
As Eureka said, you will want to keep part of your stuff in 1oz coins/bars. When your stack really starts growing (think in terms of '000's of ounces), you might think of swapping some 1oz to larger pieces if your stack was (say) 1500 x 1oz pieces (even then I doubts I'd change stuff out) - but in my opinion, only if you seriously honestly have way too many 1oz pieces. A real-life example - if you wanted to swap 10 x 1oz coins or bars for a 1 x 10oz bar, I'd jump for joy - depending on what your 1oz pieces are... I have a lot of my stack in 10oz, 1Kg etc units, and would be happy to break some of that down to smaller pieces - again, depending on what those smaller pieces are. After you've mulled that over for a bit, you're welcome to ask "What difference does it make what the 1oz pieces are" To which I will reply - again, this is in my opinion only - that I would be unlikely to break a large Perth Mint bar for coins or bars that are not PAMP or Perth Mint. The reason is fairly simple, I live in Australia, and I think the best coin or bar to hold is the one that is made locally - rather than potentially "different" pieces that come from overseas. That said, I have some Pandas, Phils, Eagles and Maples, but would swap these at the drop of a hat for anything from the Perth Mint.
