Not sure if I've got the cojones for gold stacking!!

[walesdave]

If I sell my stack of 35 bullion sovereigns now I'll break even.

Do I have the nerve to see if the price goes up, or am I scarred of a crash and flog now????

HELP!!!

[HelpingHands]

I suppose it depends on whether you think what you have currently is money or whether you need to sell them to have money.

[ApisMellifera]

Agree with HH.

I would ask myself these questions.

What is your original goal for stacking? Was it for profit or to break-even? then yes, go ahead sell.

Do I need the money now?  Really ? Then yes.

If not, then 'Keep on stacking' is the golden rule.

At the moment, I would hold onto gold if you can, because my main question is: Should gold prices drop further, will there be any "real" gold available at that those prices.

That's my 2oz and my opinion....for now...

[sovereignsteve]

54 minutes ago, walesdave said:

If I sell my stack of 35 bullion sovereigns now I'll break even.

Do I have the nerve to see if the price goes up, or am I scarred of a crash and flog now????

HELP!!!

It depends. If you have some nice sovereigns that I would want, then sell to me.

[SilverPirate]

Hold.I just got a feeling in my water that you will make more money later.I think it's time to buy more to be honest.

[mr-dead]

Sell the 35 sovs, put the cash in the bank.

The misses will then spot the wad of cash and spend it on hats and bags or other such "essentials"

[HawkHybrid]

what will you do with the £'s raised from the sale?

 

HH

[Scuzzle]

Are you going to be well up or even a little up by selling, if so then there is always the option to sell half and take a little profit and sit it out with the other half in the hope prices will rise further.

[walesdave]

Many thanks for the suggestions ,,,, not sure if you read my 'joining post' a few weeks back but the stacking is just a way of saving money. I don't mind taking a minor hit whenever I do sell but the wife (and kids!!) have promised trouble if I completely bugger things up and lose a lot .

It just appears that for every 'expert' I find by Googling 'Gold price' that says to stay in, there's another saying 'Get out' 

I think I'll stay in the the moment and might even buy a bit more, as I like a bit of a gamble (to the point I've promised the Mrs. to never join another on-line gambling site )...

....and if it all goes wrong...SilverPirate made me do it  

[KDave]

No one knows what will happen with gold, despite what people are saying about the new bull market, ect. People were very bullish at the peak in 2011 too. And very bearish at the end of last year and into the start of this year. Look how wrong they all were. I don't know any better, just making a point - don't act on anyone else's opinion, you need to make your own mind up.

edit to correct.

[KDave]

Silver pirate your on the line now mate. You should have told walesdave 'this is not advice' or some such. 

[walesdave]

1 minute ago, KDave said:

on this you need to make your own mind up.

I used to like you KDave....but not any more

My mind is up and down like a yo-yo'ist having a trip on the London eye!

 

[KDave]

May I ask do you have other investments in addition to gold? 

[ApisMellifera]

Another thought: How much are your kids involved? it looks like that they're heavily involved! ? Just make sure they don't "advertise" your stack around the neighborhood.

Also have you asked them what they would with the stack? Can they find a better investment. Let them do some research about investing and teach them about PM, if you haven't done so. Time invest in your kids is invaluable and they will def take that on board because they learned from their dad.

There is a good vid by belangp on how he slowly educates his kids. I will post it later when I'm home. Don't no how to that on the phone.

 

[SilverPirate]

1 hour ago, walesdave said:

....and if it all goes wrong...SilverPirate made me do it  

Disclaimer i am not a financial adviser but a pirate, all aboard the HMS Rusty Porthole.Load up yer treasure chests me heartys.splice the cake,rodger the cabin boy and jolly your todger.and sail off into a golden sunset.

[Kman]

All depends why you bought them

The fact that you're thinking about selling because you think breaking even is good then I think you should sell. 

[SilverPirate]

1 hour ago, KDave said:

Silver pirate your on the line now mate. You should have told walesdave 'this is not advice' or some such. 

Walesdave this is not advice.

[Roy]

Hi Dave,

All good advice here mate. 

You say that if you sold now you'd break even. Gold is doing well, a drop today but generally pretty healthy @ £875/oz

But 3 months ago it was around £700/oz. You hold around 8oz so a £1400 drop, if gold were to fall back to £700/oz how would that feel?

Imagine if you checked your bank statement and there was £1400 missing?

I don't think gold is right as a saving plan for you. Forgive me, I don't know you or your situation, but it sounds as though you have too much invested in gold.

Perhaps you need to diversify? Maybe some silver, P2P loans, an ISA...perhaps all of these, lots to choose from.

Gold is a jealous mistress, I think your wife will be glad to see her go.

Roy

[Scuzzle]

I never noticed the bit about you have only broken even, I would hold what you have for now, the global economic situation is ideal for gold so it could go better yet, 

[4Nines7Hills]

here's my two peneth which can be taken or ignored without offence.

how long have you had your stack? PM is a long term investment I don't even work out what mines worth at present as I haven't held it long enough, I have a spreadsheet with all the costs on though.

If you don't the money right now I wouldn't sell it's a nice nest egg for emergency.

If you do sell what will you do with the money (you don't need to tell us just have an idea in your head) I find "spare" money is wasted on crap I don't really need.

Have you any debt charging interest loans, credit card mortgage?

Maybe just sell part of your stack diversify into a little silver.

[HawkHybrid]

6 minutes ago, Scuzzle said:

I never noticed the bit about you have only broken even, I would hold what you have for now, the global economic situation is ideal for gold so it could go better yet, 

 

people focus too much on whether they are currently up or down

on an investment. higher could go higher and lower could go lower.

your decision should be based on what's most sensible (based on

your investment strategy). if you're up now, you could end up selling

it for £'s just to see those £'s devalue due to inflation or a falling £.

gold is liquid long term money, convert it to currency when appropriate.

keep it dynamic, don't sell just for the sake of selling.

http://www.gold-eagle.com/article/hardest-strategy-let-your-winner%E2%80%99s-run

 

HH

[BaldyBob]

With current price rises how are you only breaking even?

Were you paying too large premiums, or were you buying at the last highs?

My opinion, for what it is worth. As has been said, if breaking even feels good, sell up.

When you can get bullion delivered for less than £780 per oz, buy back in again, but this time avoid anything with more than a 4% premium. Or maybe not as too many people know about your stacking.

[walesdave]

Wow - many thanks for all the advice and suggestions; joking aside I'm not going to 'hold' anyone to what they think is the best action at the moment - I'm (unfortunately) old enough to make my own decisions and mistakes! Sometimes, very occasionally, I even get things right

I like what people say about involving the kids - my eldest (14 y.o.) has her first silver walking liberty, and the middle kid (11 y.o.) bought her own silver florin a few weeks ago, youngest sproglet (nearly 10 y.o.) is begining to show an interest - mainly in my smallish silver stack as it looks more impressive. I'm just waiting for 3 small silver rounds to arrive from Australia to give one to each of my girls....

As far as not advertising the stack around school and the neibourhood, I keep all my PMs in my gunsafe (all Kosher BTW); the kids have known since they were very small that they don't advertise things where they shouldn't .

For a post that was started slightly serious / slightly tounge-in-cheek, there's been a lot of thoughtful replies, all of which will give me things to think about. Top-of-my-head, right at the moment I think I'll stick it out and see where the market goes; what's the worst that can happen....just give the Mrs. something else to tell me she told me so!!

[walesdave]

Hi BaldyBob

4 minutes ago, BaldyBob said:

With current price rises how are you only breaking even?

Bought most sovereigns at around £200 each (average then was £201) but bought another 15 recently which pushed the average to £206 per coin; Atkinsons are offering about £206 each for bullion at the mo so I'd more or less break even. Only downer is the postage but I'd probably just drive to Atkinsons if I decided to sell everything.

Speaking of which (delivery / postage etc.) does anyone know of any good bullion dealers in Cardiff / South Wales; closest I've found online is Elm Investments in Bristol - has anyone dealt with them before?

Cheers

David

[Scuzzle]

Did you buy them all more or less together, that must be about 7Ks worth, what I find is it is sometimes better if you intend to spend a good few thousand is just to spend a thousand initially then try and cost average downwards i.e you don't buy again until you are bringing your cost average down then you go in with another thousand and so on.