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 Replies: 30 / Views: 3,716 |
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Valued Member
United States
421 Posts |
Well I am way off of where I was back in the 90's. BAck then I had 3 100 oz bar sitting around collecting dust. I agree with Silverhawk74 , due the unforescene Spending habits of my fiance with Christmas and Oh wait (were getting married this weekend) and that ugly work from my X Child support things are a bit rough right now.
So I am in the lets get the bills back in order and into the new year so I can assess what I can allocate back into PM1!
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Pillar of the Community
United States
526 Posts |
From 100 to 500 is quite a big gap. Would have liked to see possibly a 300 figure. Just my Two Cents.  |
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Pillar of the Community
 Canada
1502 Posts |
80-90% of us have less than 500oz of silver. So the majority of us really shouldn't be cheering for silver to go up. If silver hit $50 in value in the next 3 months, that would mean less than $10,000 in gains for most of us (less than $2000 for those with less than 100oz). And I don't suppose the gains there would be enough to cover for whatever hit in the economy that got silver that high. But I suppose winning a little is better than not winning at all.
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Pillar of the Community
United States
4008 Posts |
If silver were to move up to $50 an oz., I would stop buying but probably would not sell any unless I wanted to raise cash to buy something I really need... such as a newer truck. I'm not into PMs to be buying and selling to make money. I already have a good amount of stock market investments that make money. PMs are my insurance against a financial black swan that is unlikely but still possible. PMs also work well as inflation hedges that protect the buying power of my savings. $50k worth of PMs put away for 20 years will almost certainly be worth far more than $50k worth of FRNs. It is also enjoyable to have and to collect silver coins, rounds, and bars. Finally, it is a family legacy that I can pass on to the kids and grand kids.  |
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Pillar of the Community
Canada
862 Posts |
I buy PM just like insurance, didn't think of selling even when it hit $50. after several hundred oz, I started to feel they took too much space, gold is much space friendly and eaiser to carry around
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Pillar of the Community
United States
7840 Posts |
All of my silver would not convert over to a whole heck of a lot of gold
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Pillar of the Community
United States
4008 Posts |
Well, I COULD swap my silver for maybe 12-13 oz. of gold but would much prefer to wait until the gold / silver ratio is more like 30:1, or less, and not the current 53 or so to 1. Nothing against gold at all. I just think that silver is a better buy right now and that it has more potential for price improvement. Silver going to $60 seems less of a market problem than gold going to $3200. No way to know for sure but, as they say, "That's what makes horse races".  |
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Pillar of the Community
1283 Posts |
If silver hits $50 again I'm selling all but my Morgans and paying off my mortgage. I would then start re-buying as it comes back into the 40's, 30's, etc.
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Pillar of the Community
United States
2130 Posts |
I agree throwback...if silver hits $50 again I will be selling at least a couple hundred ounces of my silver. That's the magic number for me.
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Pillar of the Community
United States
4008 Posts |
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If silver hits $50 again I'm selling all but my Morgans and paying off my mortgage. I would then start re-buying as it comes back into the 40's, 30's, etc. Not a bad plan at all, TBK. None of us knows if silver will get to $50 and fall back again or keep heading higher. But you have a goal and a plan to get there and that is good. A very important lesson for investors to learn is to make the best decisions you can with the info you have available at the time... and then don't look back. Second guessing yourself only leads to doubt and recrimination and neither of those is helpful to an investor. There have been a number of times when I bought a stock at $25, sold it for $50 and then saw it go to $100 or more. That's OK. I made money and that is all that matters in investing. All this means is that the people who bought my shares made money too... and that's fine with me.  |
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Pillar of the Community
United States
667 Posts |
If I sold all of my silver at today's prices I would be a very happy man. If I sold it at $20 I would be a very happy man. This comes from a person that has bought silver every month for a long time.
I never viewed it as a short term money maker.
At the present I am still a buyer and not worried what tomorrow will bring since I am planning for the future.
I would really like to see $12 dollar silver that would really let me build up my investment in a large way since I make more money than I did 25 years back.
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Pillar of the Community
1028 Posts |
The poll is tough. If I include all the numismatic coins in my collection, it's well over 100oz, but well shy of 500oz. I sold a great deal of silver (mostly on craigslist believe it or not) back when it was in the 40's. I still try and sell any bullion or junk silver whenever I can so my holdings will not grow in the future. It just hit me one day that I hate how high silver (and gold) are. I became very annoyed that the silver price messed with the values of Washingtons, Roosies, Mercs, etc...even Barber coins. I felt like it was hurting the hobby. To this day, I hope silver crashes and allows all those coins to act the way they should from a numismatic standpoint. I occasionally buy and flip quickly when I see the right opportunity, but I personally have no desire to invest anything in silver anymore. |
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Valued Member
United States
113 Posts |
After my dad convinced me to buy 30 oz for about $150 when I was little, I didn't pay attention to silver much until last year. I started buying junk silver and bullion when the price was $18 and the ratio was in the high 60's I think. Anyway when the ratio was on its way down to 30 and on its way back up, I traded a few times for gold. Based on my cost average per ounce I bought that gold at about $930 per ounce, and that was this year. Now I could turn the gold into a lot more silver. hmmm
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Pillar of the Community
United States
4008 Posts |
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...but I personally have no desire to invest anything in silver anymore. Excellent! Then you won't be bidding against me in the silver market.  |
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Pillar of the Community
1028 Posts |
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Excellent! Then you won't be bidding against me in the silver market. I remember your post where you were talking about your massive purchase. I doubt we were ever competing for the same level of investment anyway |
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Replies: 30 / Views: 3,716 |
First Page
Posted 12/14/2011 07:52 am
