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Posted 12/01/2014 11:39 pm
50oz @ let's say $16-18 per oz. = bulk purchase, IMO :)
Guess it's relative. I remember guys regularly buying 500oz monster boxes of AG when prices were nearing $40 and thinking nothing of it. I'd been regularly collecting for a few years before the boom, purchasing maybe 200oz a year, and people who had never purchased much more than a silver dime or quarter were catching up to, and passing me in a matter of months. Those were the heady days of PMs when metals were hitting new highs seemingly every week with nary an end in sight.
Besides Barry, most of those guys are long gone now. Some were banned but I think most simply faded back into obscurity, whether from boredom, embarrassment, or lack of time, I'm uncertain. I be interested to know if they maintained their quickly gathered largess or sold out when things turned ever bleaker for these would-be silver barons. Who knows? They aren't around to ask.
I know I kept what I collected. Every ounce of it. I was quite proud to finally join the 1k silver club and didn't want to risk falling back under that number for fear I'd spend my profits on something less material than cold, hard cash and more fugacious like a trip to Tahiti. Nothing wrong with either choice, mind you, but each has it's drawbacks.
Look at the historic spot chart for AG. See where it rested for many decades, through multiple recessions and periods of uncertainty, and ask yourself if you believe the metal will buck the trend and rise to new heights, or fall back into the comfortable and well-established rut where it remained for so many years with hardly a measurable uptick.
I consider making a substantial investment in PMs a risky proposition, myself. Perhaps if you wait until it truly bottoms out, and then don't mind buying and holding for what might possibly be a period of decades, then I don't see much risk in such a decision, other than having a lot of money tied into a venture that might not have much potential for growth.
Guess it's relative. I remember guys regularly buying 500oz monster boxes of AG when prices were nearing $40 and thinking nothing of it. I'd been regularly collecting for a few years before the boom, purchasing maybe 200oz a year, and people who had never purchased much more than a silver dime or quarter were catching up to, and passing me in a matter of months. Those were the heady days of PMs when metals were hitting new highs seemingly every week with nary an end in sight.
Besides Barry, most of those guys are long gone now. Some were banned but I think most simply faded back into obscurity, whether from boredom, embarrassment, or lack of time, I'm uncertain. I be interested to know if they maintained their quickly gathered largess or sold out when things turned ever bleaker for these would-be silver barons. Who knows? They aren't around to ask.
I know I kept what I collected. Every ounce of it. I was quite proud to finally join the 1k silver club and didn't want to risk falling back under that number for fear I'd spend my profits on something less material than cold, hard cash and more fugacious like a trip to Tahiti. Nothing wrong with either choice, mind you, but each has it's drawbacks.
Look at the historic spot chart for AG. See where it rested for many decades, through multiple recessions and periods of uncertainty, and ask yourself if you believe the metal will buck the trend and rise to new heights, or fall back into the comfortable and well-established rut where it remained for so many years with hardly a measurable uptick.
I consider making a substantial investment in PMs a risky proposition, myself. Perhaps if you wait until it truly bottoms out, and then don't mind buying and holding for what might possibly be a period of decades, then I don't see much risk in such a decision, other than having a lot of money tied into a venture that might not have much potential for growth.
