LOL, as opposed to a fake one? I heard there are a few fakes floating about at the moment Like I said... "I feel that between you you've given an adequate answer and won't ask such questions in future. I think the earlier suggestion that many stackers aim for 1000oz is realistic". I'm not asking you to tell me how much you have in your stack Seems to have generated quite the discussion this one, gotta love a bit of controversy K22
average stack? for silver stackers or the general public? because i'm pretty sure the wider public has 0oz! lol
A dealer should be able to answer this. Amount ounces sold divided by amount different customers. Maybe I can answer you, if you can wait some decades.
Hmm. 1000 oz of. [ copper, silver or gold ] I presume silver. 1000oz is just an entry level for being a silver stackers. 1 kg of gold is just an entry level for being a gold stackers. If you send 1 oz of silver to Silverstacker you will be enrol for a lifetime silverstacker membership. We dont deal fakes in the forum for your info. It is seriously prohibited.
I seriously doubt that a $25k silver stack is considered 'entry level'... ... and I think you took me a little out of context there! K22
I used to really be geared up for 1000 oz of silver and 1 kg of gold. Im not even close but its good to have goals. Lately I havent been as excited about metal and have been devoting every dollar I can to paying off my mortgage. As I have a fixed rTe I also have a limit I can put on top of my monthly payment. Once I acheive that number. (hopefully by summer) then I can dip my toe back into metals.
i think paying down your debt should always come first, each $ payed is one less $ you have to pay interest on i mean im going pretty hard at my mortgage buy i still by a little here and there, because hey you still have to live. if you dont treat yourself and have some fun every now and again you'll wind up going crazy
that would be an awesome stack... but tbh 1kg of gold? i'd prefer to just have only silver while the GSR is high...
First off welcome ! I think there's some really important questions you're asking here, and am glad you are. For every "to da moon" thread, we should have a BEWARE message too. Pay attention to your concerns expressed... you say that you have some. Be sure to listen to your own intuition, and your concerns you've already stated. Ignore the random guys on the net with get rich schemes! You're surrounded by enablers here, so watch out for that. I love this place but be warned, (and I'm among the worst because I love silver). People will joke about addiction and going too far.. and you wonder if they really mean bad when they say "it's bad". This can be a very costly thing to get interested in! Sometimes I go out to breakfast on the weekend with some people I know who talk all about the expensive stuff they buy, (but can't afford to) and how hard they are up for cash to pay bills for food, rent, medicine... just doesn't make any sense! What I risk on silver, is a small amount of my disposable income. I'd be ok if it fell 50% in value and I decided to dump it and take the loss... or if I wanted to hold it until I kicked the bucket and passed it on. I sure hope the price eventually goes up to where I think it deserves to be, but if it doesn't, it's not the end of everything for me. Consider your time horizon, until you need to get that silver money back. 1 year? 5 years? 20 years? A guy I talk with told me the other day how's he's having a hard time sleeping at night because silver is falling and he's losing thousands more every time it drops. There's a lot of stress and anxiety around how you invest your hard earned money. What kind of losses are you comfortable with? How much loss is enough to make you feel sick to your stomach? Are you ok with losing 40% of your money in this investment? These are things to consider. Risk management is key. There's ton's of stuff the pros have written about this. Van Tharpe's book "Trade your way to financial freedom" comes to mind for starters. Don't risk more than you can afford to lose. Only you and a financial advisor can answer many of these questions, how much does your budget afford for investing? Consider how much disposable income you have? Pay attention to sound financial advice regarding monthly budgeting. Consider how much a month is realistic for you to set aside for collecting silver. If it's not much then pick up an oz or two every so often instead of the bigger bars. My 2c is make it a priority to pay off all your debts. Why try to 'save up' when there's a drain in the bottom. There is tremendous financial freedom that comes with being debt free. I often read about people who owe credit, mortage and so on, but then talk about the investments they hold... but it's really money owed. Debt costs really add up long term. Paying off the bills ain't fun, but it's smart. Diversification in investing is important as well. It's often said, "Don't put all your eggs in one basket". Silver is volatile compared with many other investments. It's like a double bladed axe, it can really do amazing things for you, but also can hurt you if it comes back against you. Many investors are trying to find investments that have lower volatility to protect their life savings. You want to try to protect your savings from erosion by inflation, but without risking 55% of your money due to a massive market selloff (like in 2009). Although it's boring, what may be a safe investment is a 5 year GIC. Dollar cost averaging is a great topic, I've tried to raise that before... here in this thread. (Some really interesting responses too) http://forums.silverstackers.com/topic-38948-dollar-cost-averaging.html If you're into comparing stack sizes... check out youtube for silver prOn. All numbers of videos there with people showing off their silver stacks in amateur vids.
If I pay off my mortgage early or even pay extra per week extra in repayments I get slugged massive fees. If I pay it off early I think it will cost over $200,000 Its called "economic costs" The numbers are just huge and unrealistic I think its better to just keep saving a little bit of money each week (by buying silver) so when I go on my holiday next year I will have some spending money
+1 ^^^ THIS! -1 ^^^ THIS! Beware of advisors. Financial advisors are fee sapping sales-schmucks who usually have no idea except to try and steer you into the highest fee-yielding product using generic software that attempts to make them look like they know something.
You are doing the right thing by prioritizing. You are also not alone in having other big and important bills to pay and not being able to get PM's (or very little of it)
Very very true. I joke all the time about my silver addiction. Whenever I have $1000 saved in my checking account I end up buying silver. I have been meaning to buy a new bed for ages now but I can never save enough because I always end up buying silver. I have been sleeping on a mattress on the floor for 2 years now lol. When silver was falling really fast a few weeks back I took some money out of my emergency fund to buy some at around 25.70 an ounce. Don't do this. I think if you have a decent emergency fund (i think around $5,000-$10,000) and are saving some fiat every pay check and you have no debt (excluding a mortgage) then its no problem if you spend all your money (after living expenses) on precious metals. IMO. What else can you spend it on? Junk? Other ponzi scheme investments? I guess it depends on your age though. Im fairly young and I can't really imagine any investments apart from precious metals and property still being worth anything by the time I retire.
if you want to answer the question of how much people hold, you could always make an anonymous poll thing with brackets like. <50 oz <100 oz <500 oz <1000 oz <3000 oz <5000 oz <10,000 oz i don't have any idea how to do this, but I'm sure someone would. but kinda answer the question, 10 1/10th of an ounce silver coins would be a stack. cos you can stack 10 on top of each other. it would just be a small stack. i have being giving my friends daughter pre-decimal coins when i visit her, she loves pretending she is a pirate. so now she has treasure... i would consider her small collection of silver a stack... probably less than 3 ounces ASW.. but she enjoys it, and seems to have sparked a interest... another kid i know is 15, and he has being saving his dollars from paper round, sometimes gets me to pick up an ounce for him while i am in at goldstackers. he prob has less than 10 oz in total, but that is infinitely times more than what i had at the same age. a stack is a stack no matter how small. 3 three penny bits could constitute a stack. and the owner of them would be proud as hell.
I always equated an emergency savings in the same amount as what I'd need to live on for 3 months. I think an "average" stack of PM's could be thought of in this way. If your living expenses are $10,000 a month, I think a goal (which wasn't asked) should be around $30,000 in PM. If you're a younger person, living at home with Mom and Dad, and your bills are $600 a month, I think your goal should be 70-80 oz's. This seems achievable. As your bills increase, your "net worth" should increase (should being the operative word). Most people just spend more. I think this is a good rule of thumb. Once you hit that goal, try for 4 months...then 5, etc. I'm a newb, but been monitoring this forum for about 2 years.
