Interesting. Another take entirely - Rather than waiting to sell silver at a certain price threshold you are instead waiting for an attractive ratio to convert silver to gold?
Time for stackers to review the lessons of 2011.
- Thread starter Shaddam IV
- Start date
Interesting. Another take entirely - Rather than waiting to sell silver at a certain price threshold you are instead waiting for an attractive ratio to convert silver to gold?
that's when you pull out a shiney 1oz gold coin and use it as a ball marker.
I opened a new ether (crypto) position a few months ago at ~$190US - it's currently $271 - let me know when they start talking crypto I'm keen to take profit
This thread offers a valuable comparison of perspectives. I wasn't in the PM space before 2014 and I'm glad I wasn't. I wouldn't have sold at the top as I likely would've bought into the 'to da moon' narrative and would be left with a sour taste in my mouth from that experience.
For me, I just want my saving to be secure. My little nest egg for the future when I need to fall back on it. I can see some tough times ahead potentially poking it's face into our lives and I'd prefer to have something when I need it rather than achieve some fiat profits when times are good. I'm a long-term holder and will only sell when I need to or when I see an opportunity to purchase an undervalued income producing asset, like property.
I have no price point in mind at all, but I like speculate on what price it could go to in this environment. When we break through all time highs and retest, I think the upside potential is going to be extreme. Gold is almost there, silver is far from it. I can see triple digit silver happening if we break through $50USD. I can see $3,000 gold happening almost effortlessly.
For me, I just want my saving to be secure. My little nest egg for the future when I need to fall back on it. I can see some tough times ahead potentially poking it's face into our lives and I'd prefer to have something when I need it rather than achieve some fiat profits when times are good. I'm a long-term holder and will only sell when I need to or when I see an opportunity to purchase an undervalued income producing asset, like property.
I have no price point in mind at all, but I like speculate on what price it could go to in this environment. When we break through all time highs and retest, I think the upside potential is going to be extreme. Gold is almost there, silver is far from it. I can see triple digit silver happening if we break through $50USD. I can see $3,000 gold happening almost effortlessly.
Question, was there a preference for pure vs junk silver or was all silver good at the time? Were they being sold at around the same premium or was there a noticeably higher premium for pure ones? I ask because in the 80s there was a preference for pure over junk as junk had to be processed in the refinery and refineries were full so therefore was a discount compared to pure silver.
Yes, round 50c coins and junk silver were trading briskly in 2011.
I made the same mistake at the peak of the crypto market at the end of 2017 ( I also noted a bit of chat in about 2013) as I did in 2011. My golf mates were talking crypto this time, last time in 2011 it was silver. This time I'm hoping I'm a bit wiser, bit more experienced etc.
I've been practising taking profits in the sharemarket over the past 12 months, I think it's important to practice so that it becomes a natural part of your investment routine.
Edit to add: mind you I've also been practising closing losses. That's important as well. Unfortunately.
Yes it makes more sense to me using the ratio I bought at to go by instead of the price itself since that can vary wildly and who knows where it will end up.
I'm not too interested in selling but converting some would be great in the long run and I can always afford to buy silver I hope.
Maybe ill trade a third at 50 to 1 and more at 30 when it goes that low. Whatever feels right at the time.
The price doesn't mean much as long as I can get a better ratio, I'd be better off.
Since then, the Perth Silver Kangaroo has been cheap and being a 99.99 1oz coin is probably a good choice or an addition to our well liked 50.
With the focus on minting as many as they can, Perth has opened up plenty of opportunities for stackers and collectors.
The Koala, use to be "The" bullion coin but 2015 changed that after years of convincing Perth to strike the Kangaroo; this year should ensure a huge
mintage of the Roo, so it's popularity in the market as a true bullion coin will be / is recognised throughout the world. That also opens the door
to Perth's strategy of offering low mintage's of their other bullion products.
We also see Perth steering away from some of the larger coins which is a bit of a shame, but it would seem the marketing manager is
focusing on 1oz silver coins which suits their production line. As we all know, Perth produce 1oz blanks for Mints overseas, so..........
I think if Perth reduce their range of Lunar coins anymore they'd be shooting themselves in the foot; perhaps the removal of the 10oz Lunar for series three was
a bad idea, and to dump the 10oz Koala was also damaging.
On a good note, some of the new series, such as the Swan could become as popular as the Kookaburra, that's if they keep the series going and fwiw,
from what I've been hearing, if Perth struck a silver bullion Swan in 5oz, 10oz and Kilo, they would have a winner, not just a following, but a "huge" following.
Word has it as well that Perth will eventually change their silver bullion bars to 99.99 and add new details ("SILVER") to the 10oz, kilo and 100oz bars.
Junk silver here in the states was on fire in 2011 and after the "Great Melts" of the past it's become more attractive to people and sought after.
I personally love junk and it's some of my favorite to collect.
I personally love junk and it's some of my favorite to collect.
I made the same mistake at the peak of the crypto market at the end of 2017 ( I also noted a bit of chat in about 2013) as I did in 2011. My golf mates were talking crypto this time, last time in 2011 it was silver. This time I'm hoping I'm a bit wiser, bit more experienced etc.
I've been practising taking profits in the sharemarket over the past 12 months, I think it's important to practice so that it becomes a natural part of your investment routine.
Edit to add: mind you I've also been practising closing losses. That's important as well. Unfortunately.
I wasn't in the precious metals market in 2011 but I have been involved with the sharemarket for over 33 years. Along the similar lines of 2011 with precious metals I learnt one very important valuable lesson and that is to take profits off the table when they are decent and available. Like just before this sharemarket crash I took some money off the table. Now gold and silver are doing the melt up. I am selling some of my stack already because no one knows actually when the music will stop playing. I am staggering my sales over time but will always keep a core stack in my reserve. I don't believe it is good to be totally out or in because no one really knows whats going to happen. It could go up and stabilise and never come down again or it might just fall into a pile of shite like silver did in 2012. Don't forget you could buy a tray of 100 kookaburras from Ainslie for $2500 only 17 Months ago and nobody wanted them. How sentiment changes......
17 months ago to March 14 2020
was about 13 months of good buying, provided buying every-month
no problem... now still buying, just got different products at different prices
precious metals are supposed to be like that
provided that guide employed was $14 silver, not $13 silver
, not easy to get the $12 silver when premium zoom up even before price reached $13.xx
no point to be using the $50 mark again for exit, since we could easily past that level, just look at gold and palladium and even platinum
it was a mistake in 2011, avoiding making the same mistake ???
it is best to intentionally be making the mistake in 2011, so that you can get higher prices for your metals
continue to buy for <$24
was about 13 months of good buying, provided buying every-month
no problem... now still buying, just got different products at different prices
precious metals are supposed to be like that
provided that guide employed was $14 silver, not $13 silver
, not easy to get the $12 silver when premium zoom up even before price reached $13.xxno point to be using the $50 mark again for exit, since we could easily past that level, just look at gold and palladium and even platinum
it was a mistake in 2011, avoiding making the same mistake ???
it is best to intentionally be making the mistake in 2011, so that you can get higher prices for your metals
continue to buy for <$24
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Arch Stanton
Well-Known Member
I have quite a few pounds of junk, and will probably hold a good portion of that unless the price gets to ridiculous levels.
I plan on swapping my 999 to gold when the ratio is under 50 also.
Will see if I have the discipline to sell the 90% when the time comes. It has a strong Gollumesque pull.
I plan on swapping my 999 to gold when the ratio is under 50 also.
Will see if I have the discipline to sell the 90% when the time comes. It has a strong Gollumesque pull.
I only became successful with trading after adopting the mantra "realised profits are better than fantasised profits". Trading can be devastating to the emotionally unequipped and those who lack self discipline. It's not for everyone and can be quite taxing for some, myself included - One of the reasons I no longer trade.
I get sellers remorse everytime I sell a member of 'The Stack', I feel as though I'm selling my security and financial freedom!
As with you Silverling , have been in the stock market at some capacity since 85. Have I learnt my lesson? Probably not. However, this time around, I am diversifying across various categories. Precious metals - 1 x Biotech stock - Cryptos - Mining - Cash. Have had a difficult time trying to rollover some of my funds from an Industry Superfund to my SMSF. They are making every excuse in the book not to release the funds. Now they are merging with another fund. Sheeesh!! I sense that we are heading into a massive headwind where it could be difficult to liquidate. I do not want to be caught out. I will stick with the Gold/Silver ratio for now whilst keeping a close eye on the S&P 500 and the charts. IMO the markets are looking very toppy and it would not surprise me to see the S&P fall to 3,000 very soon. With Covid-19 thrown into the mix, I think that Gold and Silver may initially take a hit with any sign of a market downturn. However, there will be a lot of fiat floating around exiting the markets and looking for a home as a safe haven. That's where Silver and Gold could shine. I feel we are not seeing Gold and Silver going up for the same reason as last time around. Incidentally, I was buying lots of the Lunar coins and rounds not long after the peak, thinking that it was just a dip and would bounce back up. How wrong I was. That was 2012. Have I learnt my lesson? At least this time around, I have been taking some profits of the table as we go. We shall see. Cheers Markco2
I’m looking to pick up more gold miners. Gold is now extremely overbought. A stock market correction combined with a gold correction will be an opportunity for me. We’re not in 2011, we’re probably only in 2008 so there’s a long way to go but gold doesn’t just go straight up. If silver falls along, hope to pickup some physical as well.