Who wants silver to stay low?

I

itin

Member
I've only been in this strangely wonderful game for a couple months, so I feel I have some catching up to do.

So far the stack is about 130 oz. But, of course, I WANT MORE! I NEED MORE!

I have a chance to work a couple overtime shifts a week for most of the summer. Each shift is about 20 ounces of silver at current spot plus assorted premiums and shipping.

Would love spot to drop to $25 for the rest of the summer so I can grow the stack. Looking at retiring in about 20 years, so I have some years before I'd sell.

Anyone else hoping for stagnation?
 
You have come at an interesting time! If I can make a few suggestions based on what I have witnessed (you may know all this already):

1. Always keep spare cash for bills/unplanned expenses even though it's tempting and exciting to splurge on silver; otherwise these expenses will have to go on credit cards which gets messy. IMHO don't purchase silver on cc's to chase a good price.

2. You missed it, but a lot of ppl went all-in at $40+/oz last year thinking silver was "going to the moon"; this was an important learning experience for many. Generally, buy dips and buy regularly if you believe the fundamentals for silver to rise are there. To spread/lower risk, consider diversifying into gold.

3. Remember the goal is unlikely to be to retire on your stack; rather to purchase an income earning asset with your metals to live off the income. Silver doesn't pay you dividends or rent.

I'm sure you will come across some great advice on the forum but always do what's right for your circumstances. Happy stacking mate.
 
for the time being i like the low prices but would really like to see $25 which i don't think will happen..then i could buy a monster box or two and forget about buying silver for a few days.

silver consumes my mind and all i think about is coins and bars..i guess im a bug.
 
To borrow from Unforgiven, "Wants got nothing to do with it."

[youtube]http://www.youtube.com/watch?v=DQD9Y7gyAAw[/youtube]
 
mike titanic said:
I want silver to stay low so I can get more at a cheap price,but eventually I'd like it to hit the big time.
Click to expand...

I'm not a smart man, but I presume you want it to stay cheap...so you can buy thousands of ounces, and then for it to skyrocket so you can sell?
 
silverbulldog said:
for the time being i like the low prices but would really like to see $25 which i don't think will happen..then i could buy a monster box or two and forget about buying silver for a few days.

silver consumes my mind and all i think about is coins and bars..i guess im a bug.
Click to expand...

What are the benefits of a monster box? I see some prices are basically the same from 100-500oz's.

Is it packed differently? Is there some advantage you get from buying this way?
 
mikedm said:
You have come at an interesting time! If I can make a few suggestions based on what I have witnessed (you may know all this already):

1. Always keep spare cash for bills/unplanned expenses even though it's tempting and exciting to splurge on silver; otherwise these expenses will have to go on credit cards which gets messy. IMHO don't purchase silver on cc's to chase a good price.

2. You missed it, but a lot of ppl went all-in at $40+/oz last year thinking silver was "going to the moon"; this was an important learning experience for many. Generally, buy dips and buy regularly if you believe the fundamentals for silver to rise are there. To spread/lower risk, consider diversifying into gold.

3. Remember the goal is unlikely to be to retire on your stack; rather to purchase an income earning asset with your metals to live off the income. Silver doesn't pay you dividends or rent.

I'm sure you will come across some great advice on the forum but always do what's right for your circumstances. Happy stacking mate.
Click to expand...

This would broadly be my advice (though not as well written).

As silverstarter88 also said, REALLY understand WHY you are wanting to be in precious metals. Get rich quick is probably the worst possible reason particularly since it is highly unlikely to happen.
 
mike titanic said:
I want silver to stay low so I can get more at a cheap price,but eventually I'd like it to hit the big time.
Click to expand...

Yeah, well that would be the dream of any investor, wouldn't it? Not reality though.
 
mhamann said:
mike titanic said:
I want silver to stay low so I can get more at a cheap price,but eventually I'd like it to hit the big time.
Click to expand...

I'm not a smart man, but I presume you want it to stay cheap...so you can buy thousands of ounces, and then for it to skyrocket so you can sell?
Click to expand...
Actually, you are.
 
For every one person that wants the price to be kept low, so they can buy, there is another that wants it high, so that they can sell.
 
While we want it to remain low, will the LCS be willing to sell or feign "out of stock" if say spot goes 25?

The LCS will have a margin to maintain vis-a-vis the cost of the coins they bought from the mint.
 
cowsgomoomoo said:
While we want it to remain low, will the LCS be willing to sell or feign "out of stock" if say spot goes 25?

The LCS will have a margin to maintain vis-a-vis the cost of the coins they bought from the mint.
Click to expand...
No. Anyone seriously selling bullion hedges and thus makes money on the premium only, so they would not care if $1 or $100. Volatility is the thing that is hard to hedge for so wild swings will see closures
 
itin said:
I've only been in this strangely wonderful game for a couple months, so I feel I have some catching up to do.

So far the stack is about 130 oz. But, of course, I WANT MORE! I NEED MORE!

I have a chance to work a couple overtime shifts a week for most of the summer. Each shift is about 20 ounces of silver at current spot plus assorted premiums and shipping.

Would love spot to drop to $25 for the rest of the summer so I can grow the stack. Looking at retiring in about 20 years, so I have some years before I'd sell.

Anyone else hoping for stagnation?
Click to expand...

Although I bought some gold at $26.70 an ounce (210 ounces), I don't believe it's that low. I was hedging a bit, in the case it would spike 10-20%, but realistically, I think it's 250% increase in the past few years from today's prices are still a bit high.

I will definitely buy another 200-400 ounces at around $22, and the same if it dips below $20. My DCA should be around $22-$24, which I think is relatively safe in the 2-5 years to come.
 
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