My new plan for getting into silver assets - More advice needed please

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defcon9690

New Member
Hey everyone, young melbournian here!

After educating myself on the impending collapse of the US dollar and how it will affect the AUS economy (SHTF?) and the likely rise of silver price, i've decided to protect my current fiat currency with the purchase of some nice REAL tangible assets. Be looking to invest 5-10k aud split across 1oz - 10oz - 1kg amounts. I'm thinking about 4x1kg then the rest split of the aud amount will be split 60(1oz)-40(10oz) . Will be looking to get it from either forums or most likely bullionmoney or perthbullion sites very soon as the current downtrend reaches its low most likely. Would aim to grab 2015 kooks for the 1oz coins as they seem to be well priced if you buy enough with not a much premium but a higher chance to carry greater value than other 1oz coins in the future. Then aim for some perthmint 10oz bars and PAMP (might carry better value also in the future for only a small premium extra over the perthmint bars) or just buy perthmint 1kg bars as its cost effective.

How does this sound as a general safe start up plan into silver PM's and any other further advice anyone is willing to share?

thanks
 
Welcome to Silver Stackers.

Sounds like you have thought about this for a while and have formulated a plan, that is good.

You will know your own personal circumstances best, for example with regards to available cashflow and any upcoming expenditure requirements.

My suggested addition to your plan would be to go S L O W L Y and just drip feed your cash into purchases. It takes a long time to earn and is so fast to burn.

Also the world economy seems to keep ignoring all predictions of its imminent collapse including my own.

Cheers,

Agnostic
 
Sounds ok, kooks are pretty good as the premium has a chance to increase if holding for a long term.

If you're getting in for a SHTF scenario you want to get as much silver as possible whilst also having a safe known name brand
 
Agnostic put it quite succinctly so other than "Welcome!" I have nothing to add.

Lot of assumptions to be basing a $5-10k bet on.

No idea when, or even if, the US$ is going to collapse, it seems to be limping along quite nicely.

No idea what the possible affect that could have on AU$, some people think the link between China and Oz is a better indicator.

Silver isn't necessarily likely to rise and it may even dip before it does rise, or as one member who can see the future will tell you, it is going to go sideways for a long time.

Picking the lows and highs is always tricky and seems to be either black magic or blind luck.

I would pay down any personal debt before I bought silver but then 5-10k of disposable income doesn't sound like a massive bet. As long as you have a small stockpile of cash in reserve or access to credit then why not?

(You need the cash reserve in case you have an emergency like a car breakdown or become unemployed for a short time, it would be a shame to have to sell silver to get the readies.)
 
If you can afford to lose $10k and store it away from your home then that sounds like a pretty level headed approach for silver. Although would be worth looking into how much silver plummeted during the GFC... Not very promising for Round Two. The impending USD collapse has been incessantly predicted for many years since then but alas, those financial prestidigitators in power will always have one more trick up the sleeve to help it keep limping along.

No interest in gold?

And welcome :)
 
House said:
The impending USD collapse has been incessantly predicted for many years since then but alas, those financial prestidigitators in power will always have one more trick up the sleeve to help it keep limping along.
Click to expand...
In spite of what zerohedge may say, very few currencies actually "collapse" (as in "crumble suddenly"). They simply gradually lose in value, and some are renamed or amalgamated with others (e.g. the French Franc).
 
House said:
If you can afford to lose $10k and store it away from your home then that sounds like a pretty level headed approach for silver. Although would be worth looking into how much silver plummeted during the GFC... Not very promising for Round Two. The impending USD collapse has been incessantly predicted for many years since then but alas, those financial prestidigitators in power will always have one more trick up the sleeve to help it keep limping along.

No interest in gold?

And welcome :)
Click to expand...

Yeah i just really don't see in the long run how it can plummet and not re surge from knowing that the demand will most likely increase when hyperinflation occurs and i have read that other big powers like china are buying up lots of silver and it is a finite resource! Yeah it does seem like they always have one more trick up their sleeve but i figure if i have this for security before i start properly earning money then ill be safe for both situations. Having fiat and a small investment in silver (I'm not sure how much silver everyone here aims to have for whatever reason but am curious)

Yeah ill be sure to store it away from home, i read before guardianvaults is a good pick but will do more research.

Fair point to say that our currency won't "collapse" straight away maybe but even then if its not doing that its gonna inflate unless it holds value by some sort of agreement with china or something like that true?
 
Jislizard said:
Agnostic put it quite succinctly so other than "Welcome!" I have nothing to add.

Lot of assumptions to be basing a $5-10k bet on.

No idea when, or even if, the US$ is going to collapse, it seems to be limping along quite nicely.

No idea what the possible affect that could have on AU$, some people think the link between China and Oz is a better indicator.

Silver isn't necessarily likely to rise and it may even dip before it does rise, or as one member who can see the future will tell you, it is going to go sideways for a long time.

Picking the lows and highs is always tricky and seems to be either black magic or blind luck.

I would pay down any personal debt before I bought silver but then 5-10k of disposable income doesn't sound like a massive bet. As long as you have a small stockpile of cash in reserve or access to credit then why not?

(You need the cash reserve in case you have an emergency like a car breakdown or become unemployed for a short time, it would be a shame to have to sell silver to get the readies.)
Click to expand...
did your first sentence say you had nothing to add ? :p: hey defcon
 
Some people put all their money into gold and silver in 2011, thinking that the dollar would soon collapse. And what collapsed since 2011? Gold and silver are dead metals. Any investment in something that doesn't bring in a rent is inherent risky, unless you have a very long time to wait.
 
Cheepo said:
Some people put all their money into gold and silver in 2011, thinking that the dollar would soon collapse. And what collapsed since 2011? Gold and silver are dead metals. Any investment in something that doesn't bring in a rent is inherent risky, unless you have a very long time to wait.
Click to expand...


Imo, if there is a dollar collapse and gold and silver price takes off high, then those people will make (good) profits. They just had to wait a bit longer, but it would be worth the wait.

During these times I will put my money into physical silver or gold over stock market anyday.
 
defcon9690 said:
After educating myself on...
Click to expand...
Hello,
Welcome.
I'm newbie too.
I try to learn too.
Where did you find your education?
Some interesting links you know of?
Willing to share?
 
defcon9690 said:
After educating myself on the impending collapse of the US dollar and how it will affect the AUS economy (SHTF?) and the likely rise of silver price, ....
Click to expand...
My first bit of advice would be:

Be careful not to confuse the notion of "educating oneself" with the notion of "hope and faith because someone told me so".

This is a common and sometimes expensive learning exercise in the world of PM's. :)
 
Skyrocket said:
Cheepo said:
Some people put all their money into gold and silver in 2011, thinking that the dollar would soon collapse. And what collapsed since 2011? Gold and silver are dead metals. Any investment in something that doesn't bring in a rent is inherent risky, unless you have a very long time to wait.
Click to expand...


Imo, if there is a dollar collapse and gold and silver price takes off high, then those people will make (good) profits. They just had to wait a bit longer, but it would be worth the wait.

During these times I will put my money into physical silver or gold over stock market anyday.
Click to expand...
I don't like the stock market either, because it's manipulated. I prefer housing, since they generate a steady revenue, and if you have a long enough time frame (to ride off the cycles) you can't lose. Though of course if you have $1,000 to invest, it's not really practical, unless you are willing to buy a tiny house:

[youtube]http://www.youtube.com/watch?v=7ffj8SHrbk0[/youtube]
 
I just sold the house and the dog to buy silver.
I'm surfing now from inside the dogs house.
I know it's a risk, but all my sources (Silver Doctors, Zero Hedge, supported by over 650 blogs) raised green flags so can't go wrong.
 
FYI.

12623_asx_vs_ag.png
 
Legend:
The higher the better to sell.
The lower the better to buy.

Conclusion
Gold sits high on the +
Silver sits low on the +
AU cash sits high on the -

Ladies and Gentlemen, We Have A Winner.

*** Checking for winning stuff in da house :D
 
wrcmad said:
defcon9690 said:
After educating myself on the impending collapse of the US dollar and how it will affect the AUS economy (SHTF?) and the likely rise of silver price, ....
Click to expand...
My first bit of advice would be:

Be careful not to confuse the notion of "educating oneself" with the notion of "hope and faith because someone told me so".

This is a common and sometimes expensive learning exercise in the world of PM's. :)
Click to expand...

Yes, it took me many years to realise that very few truly understand what is actually happening with the economy.
You have a far, far, far greater chance of misinformation than obtaining the truth.
 
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