Hi, I will be straight to the point. How did you determine your Core position? and why would you need one? I know is like asking how long is a piece of string, but I am actually asking some of you how you came to working out your core, e.i: 3 months worth of income.. Etc P.S I have been stacking for a while now and I think I have a good amount of Ag,47. But I have not come to determine what my Core position is. At the moment all of it is my core as I would not sell it at the current price, but if the price was right I would sell the lot to buy an other worthy asset. I hear people saying 'I will never sell my core', My question is why?
Not sure if I have a core position. I just keep feeding my safe and selling is something I don't think about right now. In regards to the last question, many PM hoarders are the way they are because they have no faith in the fiat system and /or would not trade their treasure for that which could lose ALL value
My metal is a means to saving up for a property that can generate income. Hopefully I'll just keep stacking until one day I have enough to purchase a property that generates monthly revenue. I expect I won't ever sell the whole stack but who knows I'm just taking life a day at a time.
I don't have a 'core' as such, but I would be more inclined to keep my coins than my bullion. Say the world sorts itself out and levels out with some sense of stability with silver at $100/oz. I would probably sell all my bullion, but keep my coins. (probably 20% of my stack?) Moving goalposts though and it could be $50/oz, $500oz or $1trillion/oz.
So far it seems like everyone is in the same boat as me. I cant wait to see what everyone else has to say on regards to this topic... I have heard many time about Core positions however I have never heard the why... If were better investment at the time, why keep the core? Perhaps the core is just like having Fiat at the bank, except you will have it in real money form. but then again, whats the use if you never going to sell?
Start selling off your stack and when you start feeling separation anxiety and start buying,that's the core weight. Some people it is ounces, some are kilos, and some are tonnes.
At 47Ag, I would keep stacking, stacking, stacking, and stack some more. I will sell 95% of my core when silver is over-valued against other assets, hopefully real estate. Maybe in 2015? I don't know we will just have to see. The 5% are my coins which I will keep. I believe it will be as good as cash when the time comes. (it is cash, but not to the majority at the moment) SS
Do you ever consider selling one of your kidneys? Whats the use of kidneys if you're never going to sell?
Part of the reason I stack is probably the same reason we have a spare kidney. It is there in case the other kidney fails(cancer, trauma etc). My PM is there in case all my other assets(FIAT, property, shares etc) go sour or bust. If that does not happen I will just pass it on to the kids or donate it to charity when my time is up.
I guess this is a joke, right? if so hehehe if not..... Not selling means you pass from being an investor to a Collector... Many people today collect Fiat and perhaps they will lose their value on their money. I guess one day Silver will be overvalue to the point where holding is just not logical. No I would not sell my Kidneys as they are vital for my health, however Silver is an investment that I am happy to apart way with to improve my life. My two cents worth.
To my way of thinking the core stack is for legitimate emergencies(serious illness, avoid gaol and the like), retirement (sold piecemeal), or for the big ticket item (housing)
If you are unemployed and renting, your family would have a hard time trying to survive on 3oz of silver a day. Disposing of 100 oz a month to meet bills will decimate your stack pretty quickly. I have had sellers here dumping 500oz of silver just to cover their credit card bills. Whatever your core position, it's not enough.
So I guessing is fair to say that the core is more like a savings account for times of need.... would you say 6 months worth of salary would be enough for a core position? Would you be able to let go of this core to move it to another asset when the time comes that silver is over value? Only asking the question as I am very interested in the topic of Core position.. Thanks for your input
What would you say is enough in terms of monthly income converted to silver? Would you ever let it go, or will you die and leave this core behind?
Just for the record, one cannot receive any sum of money for the donation of a kidney. At least not here in the States. Our laws only permit compensation for lost wages during recovery... if you all are serious...
And yet you get paid to donate blood. Anyway, my silver = term deposit account minus loss due to inflation and tax on income. I pay most of my money into the offset account to cut down my mortgage repayments and the rest I spend on other collectables and dragons. Once the mint runs out of dragons or silver, which ever comes first, I will be paying down my debt so the stack is going to remain pretty static for a while. If I need to spend it will come out of the offset account, we will need to be very desperate to sell off any of the stack. Ultimate goal is to take the silver and any remaining fiat and turn it into an income generating investment, which may well be more real estate.
IMO everyone should aim for 1000oz . Bah !!! i hear you say When you think about it most will spend that much on a car or holidays or even crap you dont need over a couple of years. Steady as she goes & keep buying regardless until you have your goal. Its not as unobtainable as you think. Next time you go to buy your new video game buy gold/silver next time you go to go out for dinner buy gold/silver next time you think about some new clothes buy gold/silver Its all about priorities i know i would rather have a stack of metals & a pair of jeans with a hole in the arse rather than new jeans & less metals
When we have a recession and it will come eventually, I don't think 6 months salary in precious metals will be enough. The very minimum stack for anyone here should be at least 1000 ozs as insurance against bad times When I am out of this business; gold will be the only metal I will be stacking. It will be mostly fractional gold coins with a little numismatic upside like Sovereigns, French Roosters, Helvetias, and other well know World fractional coins. They have collector appeal and in most cases the majority of their intrinsic value is their gold content. I know people here are crazy about the Perth Mint hyped overpriced provincial crap and I sell it because that's what they want. However they are not real world coins and Perth mint products definitely won't be a large component of my stack.
