To think I thought buying PM 1 kg bars for $900.00 was a bargain.

Discussion in 'Silver' started by swoydaz, Dec 3, 2015.

  1. swoydaz

    swoydaz Well-Known Member Silver Stacker

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    To think I thought buying PM 1 kg bars for $900.00 was a bargain.

    Timing any market ain't as easy as some seem to think it is ;)
     
    swoydaz, Dec 3, 2015
    #1
  2. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    That's why it's a good idea to diversify into coins. :)
     
    Holdfast, Dec 3, 2015
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  3. JulieW

    JulieW Well-Known Member Silver Stacker

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    The big question is whether you'll be brave enough to sell on the 40 side of 50!
     
    JulieW, Dec 3, 2015
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  4. House

    House Well-Known Member Silver Stacker

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    :lol: Still a bargain when compared to those who bought for $1,400ea at the top...

    I remember buying 5x 1kg bars from Gumtree with the help of a forum member for $800ea and that was a real bargain back then. Thankfully I decided I had enough silver before they arrived and sold them for $875ea.
     
    House, Dec 3, 2015
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  5. swoydaz

    swoydaz Well-Known Member Silver Stacker

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    Pardon my ignorance but I haven't heard of the term "40 side of 50" before.

    Can anyone enlighten me?

    Cheers?
     
    swoydaz, Dec 3, 2015
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  6. swoydaz

    swoydaz Well-Known Member Silver Stacker

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    Thought of that, too.

    And then you get offers of $900 for a coin with a catalogue price of $4,600.00 ;)
     
    swoydaz, Dec 3, 2015
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  7. Stoic Phoenix

    Stoic Phoenix Well-Known Member Silver Stacker

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    Steep climb from $20s to $30s, $40s.......do you pull the trigger and sell pre 50 or ride the wave?
    (AKA 2011)
    Thats what I think is implied
     
    Stoic Phoenix, Dec 3, 2015
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  8. swoydaz

    swoydaz Well-Known Member Silver Stacker

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    As in dollars per ounce? /\
     
    swoydaz, Dec 3, 2015
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  9. Holdfast

    Holdfast Well-Known Member Silver Stacker

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    Crikey! :(
     
    Holdfast, Dec 3, 2015
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  10. JulieW

    JulieW Well-Known Member Silver Stacker

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    Yes. Meaning ounce price hits $40 or so and you see lots of people saying "best sell before the crash this time". So you determine to put yours on the market at $45 or so. Does your head say profit target reached, or does you heart say; ok next stop 100. If I wait I'll double my money.
     
    JulieW, Dec 3, 2015
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  11. Agnostic

    Agnostic Active Member Silver Stacker

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    I will be ecstatic to actually face this dilemma!
     
    Agnostic, Dec 3, 2015
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  12. serial

    serial Well-Known Member Silver Stacker

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    if you really think its worth that then send it to an auction house like Nobles to sell
     
    serial, Dec 3, 2015
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  13. SilverDJ

    SilverDJ Well-Known Member

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    You'd be a fool not to sell if it hit $40
     
    SilverDJ, Dec 3, 2015
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  14. Monsta

    Monsta Member

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    If your stack has an average cost of say $25/oz, you really want to reach for $50 and then sell half to protect capital and the remainder is free carried. People do this with stocks all the time - double your money, sell half & free carry the remainder (and reap the dividends).

    That said, you probably want to sell out at 10% below the last peak if you are doing that, or 5% below the second peak, just in case it fails to reach the previous high. The 95% of second peak method puts it around USD$40.86 - whatever that is in AUD at the time. Or, you can do your calculations in AUD instead... it's just the very high AUD at the time was actually above the USD at the peak and it is not now which may lead you to sell at a lower price.

    My general thought is if we see a rise like that again, it's going to be even stronger due to the economic conditions I believe we will be seeing, and metals will smash past the previous high with barely a thought. I am not calling for $200/oz silver but I think it may spike to $55-$60 easily. But in any case, I will keep buying cheap silver to try and get my average stack cost down as low as possible so I can liquidate half and free carry the rest higher if the market takes it there.
     
    Monsta, Dec 3, 2015
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