Silver Stacking Regrets

[Beano]

Hello everyone  Just wondering weather you guys have any regrets when it comes to your stack? I'm fairly new to stacking, I haven even hit the 100 oz mark yet. But would love to hear any of your experiences/stories about the matter. Maybe I can save myself some of the hassle down the line. Cheers guys 

 

[AllThingsShiny]

I have no regrets pal. If I wasn't to spend money on nice shiny things then I would of only spent the money on a load of tat. You will always have something to fall back on no matter what happens to the future markets. Happy stacking

[Beano]

1 minute ago, AllThingsShiny said:

I have no regrets pal. If I wasn't to spend money on nice shiny things then I would of only spent the money on a load of tat. You will always have something to fall back on no matter what happens to the future markets. Happy stacking

Thanks for the answer. I too have a nasty habit of spending money on tat, it's the reason I started this in the first place. Good thing about buying precious metals is you get the quick high of buying something new, and when that fades it hasn't lost all of its value.  I love it. 

[Lowlow]

Having aged a bit, I'd say your biggest investment regrets when you get older aren't the things you shouldn't have bought and lost money on, but the things you did buy and didn't buy enough of when you knew it was cheap.

Some day people will look back on 17$us/oz silver and sigh ...

[Lowlow]

Just now, Lowlow said:

Having aged a bit, I'd say your biggest investment regrets when you get older aren't the things you shouldn't have bought and lost money on, but the things you did buy and didn't buy enough of when you knew it was cheap.

Some day people will look back on 17$us/oz silver and sigh ...

I'm not saying this about silver, and not at this price, but ...

There are times when you know in your bones that you're in the exact right place, at the exact right time, and it's important at that moment that you don't dawdle and miss the opportunity.  That's true of investments, women, and life in general.  Missed opportunities feel worse over time than mistakes.

[Stu]

Not from a PM viewpoint but from a general view I sell almost FA once I have purchased it. So sitting on pm's which I have bought from '14, I have sold bugger all. Just hope thepriceincreases in the interim.

on this theme, is there anyone else like me, that is to say; sells bugger all period, I think I've sold literally 1 or 2 items in my my lifetime,everything else is in the shed, up the attic etc. 

[Beano]

11 minutes ago, Stu said:

Not from a PM viewpoint but from a general view I sell almost FA once I have purchased it. So sitting on pm's which I have bought from '14, I have sold bugger all. Just hope thepriceincreases in the interim.

on this theme, is there anyone else like me, that is to say; sells bugger all period, I think I've sold literally 1 or 2 items in my my lifetime,everything else is in the shed, up the attic etc. 

I can't really see a problem in sitting on it and waiting for the right time. I know for sure I won't be selling anything anytime soon. Fingers crossed Silver goes through the roof. Not before I hit my 1000 oz target though 

[Lowlow]

17 minutes ago, Beano said:

I can't really see a problem in sitting on it and waiting for the right time. I know for sure I won't be selling anything anytime soon. Fingers crossed Silver goes through the roof. Not before I hit my 1000 oz target though 

It's the strangest thing for me.  I've been investing in silver since at least the 1990's and I have never had much of a preference for which way the price goes in $us.  I suppose, for the most part, I've wanted the price to fall.  That's really the reason I'm "back" .. I wasn't even paying attention when silver was in the 30$us, 40$us, and 50$us/oz range ..

[Scuzzle]

My only regret is not just buying the cheapest possible bullion and nothing else, my stack is split 70/30 bullion to numismatic but I wish I had never bothered with any of the collectable stuff or the dearer semi numismatic bullion.  If I could start again it would just be the cheapest bullion possible.  Having said this I have not really sold anything yet just a couple of kilo coins so I might be totally incorrect in this statement.

[Xander]

I only started stacking/collecting last year so, no regrets as of yet. Still in the honeymoon period. 

[nubn111]

Hello everyone [emoji14] Just wondering weather you guys have any regrets when it comes to your stack? I'm fairly new to stacking, I haven even hit the 100 oz mark yet. But would love to hear any of your experiences/stories about the matter. Maybe I can save myself some of the hassle down the line. Cheers guys [emoji3]
 

I have no regrets I studied first and decided how to invest not spend $ When it comes to purchasing Precious metals your never at a loss however its never a competition always remember that and you will have no regrets just a storage of your hard earned $

[pho]

No regrets here. There were some purchases I ended up not liking that much, but fortunately with PMs you can always sell them off at a minimal loss or even at cost.

[KDave]

I regret selling silver. I have sold a lot of it and done alright due to buying low premium near spot, but here I am buying again. Could have saved myself the trouble. 

I know I should regret buying silver collector coins, queens beast and lunar series proofs, they have done OK I have not lost money, but think how many ounces I could have had instead. Must be an ounce of gold or two tied up in the numismatics I own, seems daft. I like them though. 

[vand]

The future regret many will have will be that they sold their silver when the party was just getting going. Don't have £15, £18 or £20 as a short term target. I laugh when I hear people bandy about these pittances of a target. Think longer term. Silver will take out the old highs and then some when the next s**tshow rolls into town.

Wait for the time where everyone is saying that you need to own precious metals before you even think about selling. With everything seemingly rosy, nobody cares about stacking PMs right now... https://www.reuters.com/article/us-gold-coins-usa/u-s-gold-coin-sales-slide-as-stock-markets-show-more-luster-idUSKBN1HW23Y ""In the final quarter of 2009, U.S. investors bought 21 tonnes of official gold coins, according to GFMS data. Nearly eight years later, with U.S. stocks swinging higher, sales had dwindled to less than a tenth of that.""

If you do what the majority do then you will end up like the majority, buying high, selling low, and with little to show except a lifetime of income wasted on chasing the easy thing.

I can tell you from bitter past experience that the worst thing you can do is to sell an investment that in your bones you know is well underpriced for a 20-30% gain and miss out on the 10-fold increase that came thereafter.

[vand]

10 hours ago, Scuzzle said:

My only regret is not just buying the cheapest possible bullion and nothing else, my stack is split 70/30 bullion to numismatic but I wish I had never bothered with any of the collectable stuff or the dearer semi numismatic bullion.  If I could start again it would just be the cheapest bullion possible.  Having said this I have not really sold anything yet just a couple of kilo coins so I might be totally incorrect in this statement.

Fortunately this is an easy "regret" to correct, even moreso given the current low price. 

Caring far too much about the pretty design on the coin, its rarity or its future numismatic prospects is a mistake that far too many "stackers" make. I personally don't stack anything pricier than a Lunar/Panda. Who cares? Its all silver.

[StackerNoob]

12 hours ago, Beano said:

Hello everyone  Just wondering weather you guys have any regrets when it comes to your stack? I'm fairly new to stacking, I haven even hit the 100 oz mark yet. But would love to hear any of your experiences/stories about the matter. Maybe I can save myself some of the hassle down the line. Cheers guys 

 

I do have some regrets myself. Been stacking for about a year and a half now and have made some silly mistakes, nothing that keeps me up at night, but:

 

1) I should have joined the silver forum sooner, potentially before I bought a single piece. There is so much good advice on here from well-respected and learned folk. Additionally, there are always bargains to be had on the sales page.

2) That leads on to my next mistake. In my eagerness to always have a new package to open every couple of weeks, I bought too many smaller orders at the beginning. I should have saved up for only monthly purchases, or maybe even every 2 months, to save on postage and to keep premiums to a minimum.

3) Which leads onto my third regret, which I am actively fixing now. I didnt really have a solid strategy save for 100 oz in my first stacking year. This led to point 2 above, but also left me with lots of single coins that I like but that dont really go with anything in my stack. Im the sort of person that likes to complete something they have started, for example, I only every buy a new playstation game once I have completed another. This has left me having to sell some of those coins that are nice but dont fit into a neat category or collection. I now only buy things that lead me to having round nnumbers of things or that help me fill a tube or complete a collection etc. I call it "Operation Stack Tidy" in my YT videos, and since changing tact Ive become so much happier with how my stack is structured.

 

The lessons here are that you should become very well informed from people on the inside so that you know exactly what you want to have in your stack and how to get it for the lowest price per oz. Seems simple, but I bet you Im not alone in not really doing this.

 

EDITS: Fixing typos

[Beano]

7 hours ago, StackerNoob said:

I do have some regrets myself. Been stacking for about a year and a half now and have made some silly mistakes, nothing that keeps me up at night, but:

 

1) I should have joined the silver forum sooner, potentially before I bought a single piece. There is so much good advice on here from well-respected and learned folk. Additionally, there are always bargains to be had on the sales page.

2) That leads on to my next mistake. In my eagerness to always have a new package to open every couple of weeks, I bought too many smaller orders at the beginning. I should have saved up for only monthly purchases, or maybe even every 2 months, to save on postage and to keep premiums to a minimum.

3) Which leads onto my third regret, which I am actively fixing now. I didnt really have a solid strategy save for 100 oz in my first stacking year. This led to point 2 above, but also left me with lots of single coins that I like but that dont really go with anything in my stack. Im the sort of person that likes to complete something they have started, for example, I only every buy a new playstation game once I have completed another. This has left me having to sell some of those coins that are nice but dont fit into a neat category or collection. I now only buy things that lead me to having round nnumbers of things or that help me fill a tube or complete a collection etc. I call it "Operation Stack Tidy" in my YT videos, and since changing tact Ive become so much happier with how my stack is structured.

 

The lessons here are that you should become very well informed from people on the inside so that you know exactly what you want to have in your stack and how to get it for the lowest price per oz. Seems simple, but I bet you Im not alone in not really doing this.

 

EDITS: Fixing typos

Can I have a link to your YT?

[NewMSmatist15]

On 5/7/2018 at 18:08, Scuzzle said:

My only regret is not just buying the cheapest possible bullion and nothing else, my stack is split 70/30 bullion to numismatic but I wish I had never bothered with any of the collectable stuff or the dearer semi numismatic bullion.  If I could start again it would just be the cheapest bullion possible.  Having said this I have not really sold anything yet just a couple of kilo coins so I might be totally incorrect in this statement.

Agree with the above completely IF the goal was purely investment and capital gains. Cheap bullion coins with high silver content are perfect as they are well known, easily exchanged, will track the price of silver in the commodities markets, and easy to store - even in quantity.

I personally collect numismatics, I sold all my bullion and don't have any at the moment, and while this isn't as cost effective I'm much more satisfied as I enjoy what I've purchase.

If your goal is investment, I'd argue it's safer and easier (and often pays dividends) to invest in a silver or gold ETF or even a precious metals mining company that's publicly traded. I get the desire for an investment you can hold and know it's real, but the silver in your attic isn't paying you a dividend and can't be sold in seconds with a click of a mouse.

For investment silver and gold ETFs are the best, for enjoyment I'd say numismatics are the best, for a little of both worlds stack bullion and know the downsides.

[NewMSmatist15]

On 5/7/2018 at 16:47, Beano said:

Hello everyone  Just wondering weather you guys have any regrets when it comes to your stack? I'm fairly new to stacking, I haven even hit the 100 oz mark yet. But would love to hear any of your experiences/stories about the matter. Maybe I can save myself some of the hassle down the line. Cheers guys 

 

My biggest regret is overpaying for something I fancy, but didn't have much knowledge of. I only did this a few times, and you can't dwell on it, but I'm glad I can learn from it. Be careful buying something new to you - even if hundreds of other people buy or collect that thing - do your own research first.

[JimmyStack]

Only regret is not starting sooner... I have never had a real "hobby" so to speak and never knew how much fun they can be... the company i work for gives you an american gold eagle for your 15 year anniversary and an american platinum eagle for your 20 year... so many co-workers i know just take them to pawn shops and get cash for them, so many lost opportunities, i've bought one since i started stacking and gave them spot plus $25 which i know is better than any pawn... hopefully i find a few more, strange how many don't want to just hold on to them...

 

[StackerNoob]

17 hours ago, Beano said:

Can I have a link to your YT?

Of course, here you go:

 

https://www.youtube.com/channel/UCu0hlZ0OG05vPPILlhpCphA?view_as=subscriber

[RoughDog]

I regret the choices I made when there were better choices until I know of a better choice.

[NorthBen]

I’m suffering from future regret/fear I think. I enjoy buying silver and a bit of gold every month, just as a way of me not blowing all my ‘spare ‘ money like I always would do.  I only worry that in 5-10 years from now silver might be only £8 per oz or something ridiculous like that! I know that’s fairly unlikely, but hey, it could happen.

In the mean time buying PMs is doing me well, as it’s actually taught me to not waste money. For example, I make my own lunch to take to work instead of spending £6 a day of food, and I actually save extra money too now, as well as buying PMs. So all in all, so far there’s no regrets! 

And yes, this forum is great, but also an evil temptation!! ?

[Lowlow]

39 minutes ago, NorthBen said:

I’m suffering from future regret/fear I think. I enjoy buying silver and a bit of gold every month, just as a way of me not blowing all my ‘spare ‘ money like I always would do.  I only worry that in 5-10 years from now silver might be only £8 per oz or something ridiculous like that! I know that’s fairly unlikely, but hey, it could happen.

In the mean time buying PMs is doing me well, as it’s actually taught me to not waste money. For example, I make my own lunch to take to work instead of spending £6 a day of food, and I actually save extra money too now, as well as buying PMs. So all in all, so far there’s no regrets! 

And yes, this forum is great, but also an evil temptation!! ?

I know it's just a matter of perspective, but I don't think of it that way.

To me, thinking about silver "falling" from 17$us/oz to 5$us/oz doesn't mean anything, really.  What I mean by that is that silver is a thing.  It's an ounce of a thing.  It exists, you can hold it, it is a coin or bar, etc, stamped, and has a chemical composition.  It exists in limited quantity on this planet, though it is mined, and used in production.  It's REAL.

Compare that with what you're pricing it in, cash money.  Literally created from nothing.  Printed on paper.  Illusory.  Only has value because everybody walks around pretending it does.  Essentially just an information system and a figment of our collective imaginations.  Currency is one of the most unreal things there is, literally (physically) evolving from precious metals into base metal coins, into account ledgers, into electronic computer bits, and finally into computer bits that exist in .. who even knows where.  Where ever those bits are, they certainly aren't in your hand.

So when you get concerned that the real ounce of silver in your hand might be valued different tomorrow denominated in .. figments of everyone's collective imagination ... is that really rational ?  Wouldn't it be more rational to hold the silver in your hand, grin like a Cheshire cat that someone was dumb enough to hand their silver to you in exchange for paper currency, and be happy regardless ?

The only reason paper currency has any value is because you're willing to accept it in the belief that someone else will.  So in the big scheme of things, does it matter that they'll give you 10 times as much paper money, if it costs 10 times as much paper money to buy a loaf of bread ?  Because that's what it'll be like if silver is "worth" 10 times as much, and if it's "worth" half as much, it'll buy half as much bread.

[NorthBen]

13 minutes ago, Lowlow said:

I know it's just a matter of perspective, but I don't think of it that way.

To me, thinking about silver "falling" from 17$us/oz to 5$us/oz doesn't mean anything, really.  What I mean by that is that silver is a thing.  It's an ounce of a thing.  It exists, you can hold it, it is a coin or bar, etc, stamped, and has a chemical composition.  It exists in limited quantity on this planet, though it is mined, and used in production.  It's REAL.

Compare that with what you're pricing it in, cash money.  Literally created from nothing.  Printed on paper.  Illusory.  Only has value because everybody walks around pretending it does.  Essentially just an information system and a figment of our collective imaginations.  Currency is one of the most unreal things there is, literally (physically) evolving from precious metals into base metal coins, into account ledgers, into electronic computer bits, and finally into computer bits that exist in .. who even knows where.  Where ever those bits are, they certainly aren't in your hand.

So when you get concerned that the real ounce of silver in your hand might be valued different tomorrow denominated in .. figments of everyone's collective imagination ... is that really rational ?  Wouldn't it be more rational to hold the silver in your hand, grin like a Cheshire cat that someone was dumb enough to hand their silver to you in exchange for paper currency, and be happy regardless ?

The only reason paper currency has any value is because you're willing to accept it in the belief that someone else will.  So in the big scheme of things, does it matter that they'll give you 10 times as much paper money, if it costs 10 times as much paper money to buy a loaf of bread ?  Because that's what it'll be like if silver is "worth" 10 times as much, and if it's "worth" half as much, it'll buy half as much bread.

Very true words!