For the history buffs, 200oz of silver would buy you 3 working farms, with livestock and serfs to run it. That's just the silver. Congratulations on your achievement silverman47. Pride in achievement is the virtue of ultimate satisfaction one can attain in my experience and the mark of a person with integrity. Now that you have your core position, just keep adding as opportunity allows. I know people rush like a bull at a gate to get a position they're happy with and then peter out as the elation dies down. It's a good idea to keep adding in small, manageable amounts as you go in order to maintain the momentum and not burn out.
Thanks for sharing, I'm feeding off your excitement. I've been learning what I can in recent weeks and even though I'm a small small fry, I only have 30oz Ag and 2/10 oz Au. But I have an ambition of acquiring an extra 20 oz Ag and 1/2 oz Au by the middle of December. I'm going to push hard for it while paying bills and living expenses.
I started in January with the goal of 200oz of silver, I currently have 173oz. But I also have 65oz more on order I'm waiting for (pre-order, group buy, delays, etc.) so I could technically say I've reached my goal, I'd rather hold off on saying that until I can physically hold it though. You're way ahead of me on gold though, I only have one 1/10th of an ounce 2012 Lunar Dragon. Congratulations!
Don't stress yourself out about this, seriously. Remember, if fiat currency hyperinflates, eventually gold is going to be $5,000 per gram and onward up to infinity. These fiat rules are meaningless and will not affect your ability to trade in the future. Go ahead and keep your 1oz coins and buy more. If the price skyrockets, remember you can always trade gold for silver directly, and then "spend" off the silver rather than the gold. People may not have the funds to buy a gold coin but you shouldn't have too much trouble finding people who can give you a good amount of silver for your gold. And also remember that the reporting laws don't apply to private trading. Nobody here is going to report you for selling or buying $5000 of metals. By buying grams and fractions of ounces at a time, I guarantee you're going to see two negative consequences: First, huge premiums. Second, difficulty finding interested buyers compared to the more "standard" size of 1oz.
Congrats on reaching your goal. I set my goal by taking my current level of debt and calculating how many oz of silver I would need to pay it off using $500/oz as the silver price. I figure that at that price level my bank will accept a bar of silver as a debt repayment :lol: Still working towards reaching that goal...
Oh dear. I dont think you should even consider silver going as high as $500oz as a sure thing, thats extremely dangerous thinking. Personally I cant see it going higher than $100-$150oz.......which I could definitely be wrong about (it could double that) but I just cant imagine it. Knowing when to get out is definitely the hardest part, thats for sure Perhaps its just a matter of lookin at the interest rates and money printing rate? What do others think a price top will be? Closer to $100ishoz or $500oz?
If all the gurus are saying gold is going to reach 3k easily, I think we can safely assume a doubling of silver price as a minimum.
Fair point Ernster and I'll admit, I don't expect the price to hit $500/oz this year I'm not saying that $500/oz is definite, but I needed a point to work from (and I like round numbers). To provide some context to my thinking, if gold and Dow Jones achieve a 1:1 ratio as has happened in other major downturns that implies a gold price of $5,000 - $6,000 an ounce (just my assumption). Using the 15:1 silver:gold rule of thumb ratio that implies a long term silver price of $330 - $400 oz (again just my assumption). The hard facts are, we're not increasing supply and demand is growing. Would anyone have taken you seriously if you had said gold would be selling for $1,600 - $1,800 an ounce when it was trading for under $300/oz? (past performance is not an indicator of future returns) Sorry for hijacking the thread
Fair point it is all physiological. After having a life full of unluckiness, I tend to stay grounded these days :lol: I guess the figure of $100oz seems like a huge barrier which I'm sure will take some time to eventually pass through, but if we pass that, then the sky is the limit. A bit like the 1000oz mark with Gold where the POG dropped a lot before eventually passing through it.
What I find funny is how silver is the more expensive of the metals. It just does everything better than Gold and is more rare. Is it too late to change a 5000 year old tradition :lol:
Nah, gold doesn't corrode. Is very malleable, etc. Gold has excellent properties too. They each have strengths and weaknesses over each other.
It will go much higher! Only because we at this point think $100 or $500 is a possibility. If Gold hitting a high of $1900 was thought crazy a few yrs back, lets start thinking of a crazy price and we will probably closer to a real high. Ill say $1900 is still cheap for Gold and has a long way to go. Ill say $23000 for gold and $17000 for silver. Put that in your pipe and smoke it I know i know i have now lost all crediblity ha ha :lol:
Congrats on reaching your goal. Hubby asked me the other day what our goal was and when we'd stop stacking. I said just because we reach the goal doesn't mean we'll stop. So set ur next goal and good luck in getting there. There is something really satisfying about actually owning something that you can put your hands on and not just some meaningless numbers on a bank statement.
