Who Started Stacking when silver was $5oz?

[Currawong]

I started around $17 AUD for silver and $1600 for gold. Good times, wish I could afford to pump more into my hoard tbh.

 

[PeterS]

I'm with Currawong. Glad I established my strategy in the time frame which I think will keep working as silver rises. I wouldn't like to be making some of the pre strategy decisions I made as a newbie in the present market.

 

[SwissSilverstar]

Started 2014 with 600EUR/Kg, bougth most at 480Eur/Kg and stopped buying 2 Months ago. Didnt have more funds then, laying back now and intending to sell some KGs if it hits around 1000 Eur/kg to pay off ma Truck. Buying again if/when back down around 500 again...

 

[errol43]

Wouldn't it have been lovely if to have had the knowledge then to have started stacking. IMO most of us have missed the chance of a lifetime to stack silver!

Not really


Last time silver was $5 aud was in 1991

and in 1991 you could buy a house in Melbourne for $100k and a 2 bedroom flat for $50k


Silver wasn't that great an investment back then

Relative to property, silver is cheap now

I beg to differ on the last time silver was $5oz....Going and looking on the record of silver prices, the year 2000 the price of silver was $5oz.

Regards Errol 43

 

[whatbs]

Newbie poster and stacker, long time reader of forum.
I started at recent $16 bought tiny 250 oz.
But my best buy was this week at auction.
Got 4 kg of beautiful pure silver filigree items
Now don't faint
I only paid $492 for the lot.
Works out to a lovely $3.81 per oz
Gives us an average of $12.05 oz
Best of all the misses loves silver too yeah!

 

[Pirocco]

Nobody, that's why it was $5 in the first place.

 

[alor]

that were over 20 years ago, so after many times of moving only the carded kangaroos left, not much off receipt being kept the price of a 1994 carded were certainly not $7.50 a card. never seen a bar my life at that time.

 

[hyphenated]

Ah the good old days.

When I started stacking (low-premium kilos); Gold was $1717; Silver was $32; GSR was 53 and the pundits were calling a breakout.
Thank goodness I got on the elevator before it took off!

Unfortunately it went down

My first serious purchase? Kilos at over $1,000 each.

Dollar cost averaging has helped out since then.

 

[errol43]

Nobody, that's why it was $5 in the first place.

The local dealer here in Bundaberg for 36 years told me that when the price of silver was $5oz, there was no buyers! People would bring in $10 coins and he would tell them to take them to the bank where they would get double the spot price.. The most amazing aspect of this era was the amount collectors paid for these $10 proof coins. I even have an invoice of one that cost $89... Now that is what you call a loss.

I stack these $10 coins whenever they become available here in Bundaberg...Kill two birds with the one stone, stack fiat and silver at the same time!

Pirocco is 100% right.. Nobody wanted $5 silver!

Regards Errol 43



















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[Pirocco]

To give a sales idea about the $5 era.

RCM Maple Leaf
1988 1,062,000
1989 3,332,200
1990 1,708,800
1991 644,300
1992 343,800
1993 1,133,900
1994 889,946
1995 326,244
1996 250,445
1997 100,970
1998 591,359
1999 1,229,442
1999-2000 dual date 300,000
2000 403,652
2001 398,563
2002 576,196
2003 684,750
2004 680,925
2005 955,694
2006 2,464,727
2007 3,526,052
2008 7,909,161
2009 9,727,592
2010 17,799,992
2011 23,129,966
2012 18,132,297
2013 28,200,000
2014 29,245,000

USMint American Silver Eagle
1986 5,096,000
1987 9,420,000
1988 5,869,000
1989 6,166,000
1990 7,247,000
1991 6,952,000
1992 5,544,000
1993 5,890,000
1994 5,540,500
1995 4,590,000
1996 3,466,000
1997 3,636,000
1998 4,320,000
1999 9,008,500
2000 9,133,000
2001 8,827,500
2002 10,475,500
2003 9,153,500
2004 9,617,000
2005 8,405,000
2006 10,021,000
2007 9,887,000
2008 19,583,500
2009 28,766,500
2010 34,662,500
2011 39,868,500
2012 33,742,500
2013 42,675,000
2014 44,006,000
2015 47,000,000

Mexican Mint Libertad
Year / Bullion / ProofLike / Proof
1982-1992 15,500,305 (BU+PR Cumulative figures were registered)
1993 1,000,000 0 5,002
1994 400,000 0 5,002
1995 500,000 0 2,000
1996 300,000 0 2,000
1997 100,000 0 1,500
1998 67,000 0 500
1999 95,000 0 600
2000 340,000 0 1,600
2001 725,000 0 2,000
2002 850,000 0 3,800
2003 805,000 0 5,400
2004 450,000 0 3,000
2005 698,281 0 3,300
2006 300,000 0 4,000
2007 200,000 0 5,800
2008 950,000 0 11,000
2009 1,650,000 0 10,000
2010 1,000,000 0 10,000
2011 1,200,000 0 10,000
2012 746,200 0 4,200
2015 903,000 0 6,400

Price, USD
1970 1.635
1971 1.394
1972 1.976
1973 3.137
1974 4.391
1975 4.085
1976 4.347
1977 4.706
1978 5.930
1979 21.793
1980 16.393
1981 8.432
1982 10.586
1983 9.121
1984 6.694
1985 5.888
1986 5.364
1987 6.790
1988 6.108
1989 5.543
1990 4.068
1991 3.909
1992 3.710
1993 4.968
1994 4.769
1995 5.148
1996 4.730
1997 5.945
1998 5.549
1999 5.218
2000 4.9506 <- until here cummulative avg
2001 4.3702
2002 4.5995
2003 4.8758
2004 6.6711
2005 7.3164
2006 11.5452
2007 13.3836
2008 14.9891
2009 14.6733
2010 20.1928
2011 35.1192
2012 31.1497
2013 23.7928
2014 19.0778
2015 15.68
2016 (as of yet) 16.34

One can see, the sales figures in the $5 era sat around 1/7 1/10 of those of recent peak years.
It's clear in which years the stupido's "invested". Count me in!

 

[r1lee]

My average of my silver stack is about $20-$22. I only add to the stack when I see the economy going down the drain. During good economic data, I'm usually not concerned about where the economy is going.

Meeting someone tomorrow, as I've bought an additional 5kg at $21.50/oz. unless it shoots up today and he doesn't show.

 

[errol43]

Re Pirocco post 33...FIGURES TELLThe TRUE PUCTURE! ^^^^The dealer here in Bundaberg for 36 years, has told me that there were no buyers in the $5 oz silver era.

Nearly everyone here missed the boat and it may never be this price again.

Regards Errol 43