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 Replies: 27 / Views: 4,680 |
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Pillar of the Community
Canada
1723 Posts |
@Ed_B. At this point I don't factor in the gsr into my plans....yet. I have been looking at it and learning and trying to fully understand the game but I'm just not there yet. I do see a lot of chatter about it being 1 to 58 area and that many are considering trading in their gold for silver when she spills over the 60 mark. So in that regards, trading silver for gold may not be the best thing right now. However, as it stands I'm still fairly new to the game and am just trying to add both to create a core stack still. I just happen to use silver as my way of saving for my gold. My experience with silver has dramatically increased over the past year, far more than my understanding of the gold market. With this, I find I've gotten increasingly better at timing my buying of silver allowing me to stack more for less. After I've built that core stack, I will start a fun stack that I can play with. Until then...adding both metals for the best price (during what I would consider a good dip) is my only concern.
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Pillar of the Community
United States
808 Posts |
Two of my favorite fractional coins...   Edited by coinwatch
07/10/2012 12:50 am
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Pillar of the Community
United States
4008 Posts |
Understood, Sam. Please do not think that I was criticizing your plan because I was not. I was interested in your thoughts and plans and wanted additional comments from you on that. Thanks for sharing.  |
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Pillar of the Community
Canada
1723 Posts |
Oh no worries Ed! :-) wasn't even remotely thinking that you may be criticizing. You asked a VERY valid question regarding my plans and relationship to the GSR, and I'm always glad when someone asks me my opinion....makes me feel like I'm able to give back a bit to the CCF community.
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Pillar of the Community
Canada
1723 Posts |
So Coincollect...... have you decided what you are gonna do!
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Pillar of the Community
 Canada
1731 Posts |
I think I'm sticking to silver, right now I have a "job" and only work a couple games a month. Cant wait until next summer where I can get a job and actually work 20 hours a week.
I'm looking at adding another 10oz bar to my stack and not worrying about gold until I get some more money. Thanks guys
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Pillar of the Community
Canada
1723 Posts |
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Pillar of the Community
1283 Posts |
Why stop stacking the silver? I would say keep buying silver unless you have enough money to make a dent in the gold market. I think stacking 10 oz bars of gold is where we would all like to be but unfortunately I can only afford the poor mans gold, silver.
And i'll tell you one thing I learned real quick, 55 ozs of silver is a bigger pile then one gold eagle.
But the day I can buy a red topped tube that means I will be a happy man.
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Pillar of the Community
United States
5837 Posts |
Hmmm... I like that Canada gold dragon coinwatch.  |
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Pillar of the Community
United States
808 Posts |
Thanks, Mac. That Canadian dragon was my very first gold coin purchase. It's small but still my favorite.
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Pillar of the Community
Canada
3692 Posts |
I only bought gold when I reached a comfortable point with silver. It seems that you've reached this point. However, at this point I try to do more 50/50. At least get familiar with some gold issues and different karats (color, softness....).
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Pillar of the Community
Canada
3692 Posts |
As an extra little bit to what I said above: take this time to simply think about your next steps. Get familiar with what's available in the market the same way you did with silver. What's your comfort level? When I began with gold it was ONLY with issues that I knew about that I could verify with my own knowledge. Get to know the weights, karats, and important: the dimensions of these coins. My first major gold purchase was certified. That move took a weight off of my shoulders. Another thing: get a scale.
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Pillar of the Community
United States
4008 Posts |
Well, good, Sam. Thanks for the reply. Yes, we can all benefit from giving our opinions for others to consider. If everyone else here has learned as much about PMs as I have, if not more, then the word is definitely getting out!  |
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Valued Member
United States
425 Posts |
" Do you consider the gold / silver ratio at any point in this"
I have to agree with Ed_B on this one. I look at the GSR, and it is just too high now. Last time I picked up Gold was when it was 35 to 1. MMerlinN also wrote some great posts on here about GSR and how it affects copper. I was pulling copper to buy Silver, MMerlinN predicted that copper would rise to around $4/lb by Easter and then drop, I picked up alot of extra silver following that prediction.
Silver is very low now, low in price per oz. and in the GSR, I see no reason to buy/trade for gold now. I also think that Silver is becoming less of a PM and more of a I'm like copper. So when Silver goes up,(In my mind it is "when" not "if"), it will be more in line of its value for goods, not its GSR.
Just my 2-cents.
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Pillar of the Community
United States
4008 Posts |
Hey, Oden, where you been keeping yourself, man? Good to see you back here! I don't think that the GSR is a hard and fast number that we can always use for this or that but it can be a useful indicator. In the investing world, indicators are very often all we have to go on, so a wise investor learns to recognize them and use them for what they are worth. If they are not worth anything to some folks, that is their view and they are welcome to it. IMHO, this is a number that can be used to our advantage to gain a few more ounces of PMs over time. Swapping gold for silver or silver for gold at the right GSR numbers can result in acquiring more ounces over time. It is not any kind of guarantee, though. All we need to do is recognize this because "a man's got to know his limitations"!  |
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Replies: 27 / Views: 4,680 |
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Posted 07/09/2012 7:33 pm
