How are you positioned after this massive upswing in PMs ?

[Paul]

I'm intrigued to see what people are doing and what they see happening in the coming weeks and months.

I'm on option 3 - sitting pretty.  Although I could be take some half decent profits on paper.  I'm not selling

I'm not going to be making any 'major' purchases but keep picking up small amounts and see how things play out over the coming months

[Silvergun]

Very tempted to phone Atkinsons to see what they would offer me for my 940 ounces of bullion coins , mainly 2 oz turtles and 1 oz Kangaroos .

[vand]

All of the following:

- Very happy that I have been buying PMs
- Wanting to buy more, but finding it difficult to do so after such a big move in a short time. Every time I look the price seems to have moved higher, and generally I resent having to pay more for stuff!
- Wishing I bought even more when the price was lower
- Not even tempted to sell any of my physical
- Wishing I still had open positions in paper exposure & mining stocks
- Waiting for it all to calm down a bit, tbh.

 

[ApisMellifera]

Purchasing small amounts and I'm still in stacking. Based on the graph you uploaded earlier in the "silver-monitoring-thread", I think the PM's just entered the early "Skepticism" stage of that graph / wave and still too early to sell. However it's perhaps a good time to do some late spring cleaning and clear of some coins/bars that you really don't prefer in your collection/stack (?)

[whitesands1]

Nice one.  I sold some scrap gold earlier this week.  Have kept sovereigns, for now.  Silver has got some road to go but I have learned lots this week. 

A lot of the increase is tied up in the exchange rate, If Carnage cuts rates and prints more money then there will be more upward pressure.

Not sure why the BoE felt it necessary to announce that yesterday, makes you think?

All the best to everyone on this board; we all deserve to do well for the work we put in.  Also it is a pleasure to enjoy the company of a sincere an genuine group of friends.

[Paul]

[vand]

Indeed. 

These cycles on a macro level are about fundamental shifts in public perception, which can take an entire generation or more. Case in point we saw last week - it has taken 40 years since Ted Heath held a referendum and took us into the EU, for public perception to come to the point where we now oppose membership.

In the grand scheme of things, 6 months is nothing! 

Silver isn't even on the radar as far as public perception goes. All they still care about is  whether their house is worth more this month than last month. It will be a long time and a lot of upside before this "stupid money" is convinced that precious metals are a viable alternative. The long term signs are easy to recognise if you know how market psychology operates and remember it is the stupid money that is the barometer.

50 minutes ago, ApisMellifera said:

Purchasing small amounts and I'm still in stacking. Based on the graph you uploaded earlier in the "silver-monitoring-thread", I think the PM's just entered the early "Skepticism" stage of that graph / wave and still too early to sell. However it's perhaps a good time to do some late spring cleaning and clear of some coins/bars that you really don't prefer in your collection/stack (?)

[Guest]

I am not selling anything I wouldn't have sold anyway. I like having the cushion there. If I was less lazy I might be selling now not due to spot but due to currency movement. I am not selling quite yet but I have been buying shield backs

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[motorbikez]

I'm still buying anything I need for my collection,I have also sold 200 shares in Fres today as I need a bit of cash for something. But i'm holding on to the rest as this is a long term investment for me. Anyone who has bought & held RRS or Fres has done very well so far this year.

[sovereignsteve]

If I had more bulliob gold I might be tempted to sell a little as we should get a pullback in $ terms and GBP should recover enough to drop the prices of Pms so we can buy again.

[Kman]

I sold most of my bullion, stuff I had no affection for

Seemed like a good time to, I'm guessing spot has hit around it's heights and things will start to stabilize and then drop back down

Will wait to see what happens and look out for any numismatic deals in the mean time 

Still have over half my stack though in terms of pure grams, but whats left is  numismatic to varying degrees. 

[KevinG]

I keep buying the stuff i like. No matter what the price is at the moment.  

[HawkHybrid]

6 hours ago, vand said:

- Wishing I still had open positions in paper exposure & mining stocks
- Waiting for it all to calm down a bit, tbh.

 

I've been there.

I've sold out of hochschild and nothing else. been meaning to get

back in before the end of summer.

haven't sold a single physical pm.

either pms need to rise a lot more or home prices need to fall

a lot. strategy is to be dynamic. much the same strategy as

before, just looks better on paper.

 

unless my understanding of pms changes, my current physical

allocation is already as much as my current knowledge would

allow.

 

for people who have sold some what have they done with the

currency?

 

HH

[KDave]

I am still buying a tiny amount of collectable stuff and there are a couple of reasons that stop me from selling. 

1. Mark Carnage is likely going to start up the printing press/reduce rates using Brexit as the excuse (should be doing the opposite to save the £ but he wants to keep the bubble alive).

2. Precious metals may well be in a genuine bull market and Brexit is not the reason for the moves in the dollar price of gold. Sterling fair enough. Still not sure. 

3. What else do you do with the soon to be devalued Sterling? House prices are still crazy high (double digit % higher than a year ago and rising), PM Miners that I wanted/already hold are now up too much, Non PM stocks, mostly oil related are also up too much. It all looks good on the spread sheet but I am at a loss at what to do next with my saved income.

Everything is on the table, precious metals included. Just need to figure out what offers the most opportunity.

[SecretStacks]

I'm not selling, the plan for my stack was to keep it for 20+ years unless something better/more urgent comes up. I haven't bought anything for months though, I started stacking at the end of 2014 so everything has looked expensive to me and I keep hoping for a bigger drop. I've had some big expenses as well so I've had to hold back on spending on PMs this year.

[SilvergunSuperman]

I also started stacking gold & silver in late 2014 and both are now in profit, gold by a long way and as of today also silver.

In total I'm up about 18% on spot which considering silver premiums/VAT looks pretty good on the spreadsheet. I have no desire to sell anything though and have been buying bits & pieces here and there, mainly on here for better than dealer prices.

My PMs are a long-term venture, and I do expect large movements in the years to come. Whether it's 2 in years, 5, or 20, I just can't see any other way for the economic climate to go than for 'money' to be based in something real again.

[shemyaza]

I'm ready and just added 3oz's of Dirk Hartogs

[StinkyLebinowitz]

I just started in early May of this year and made my full share of boneheaded newbie mistakes, paying too much on Ebay, paying high premiums etc etc. About half way through I got it dialed in and figured out much better. Still as of now I am $.75 in the black per ounce on 103 ounces. Covered all mistakes, all premiums and still at melt I am ahead of the game.

That's just wrong, but I'll take it. 

Bought a Peregrine Falcon Reverse Proof in Ebay just now and looking at some other stuff there. I am just looking at fixed price semi pieces not those with the automatic spot escalator jacking up the prices.

[rebnah]

15 hours ago, HawkHybrid said:

 

I've been there.

I've sold out of hochschild and nothing else. been meaning to get

back in before the end of summer.

haven't sold a single physical pm.

either pms need to rise a lot more or home prices need to fall

a lot. strategy is to be dynamic. much the same strategy as

before, just looks better on paper.

 

unless my understanding of pms changes, my current physical

allocation is already as much as my current knowledge would

allow.

 

for people who have sold some what have they done with the

currency?

 

HH

I sold a huge chunk of my gold, mixture of coins and bars.

I sold because I brought the gold as a newbie over the past few weeks and more the night before Brexit when gold dropped.

I made what I consider to be a tidy profit on it all.

Still have a few gold coins but I kept a large amount of the funds but brought more silver with some of it just before it started to rise again.

So I have more funds available to carry on playing and more silver.

[Agpanda]

I will keep on buying as graded older pandas are not effected so much of the rise in silver atm.

 

[BaldyBob]

Have a lot less gold and silver (particularly gold) than I did 6 months ago, which is sad, but on the flip side it is a great feeling not owing a single penny to anyone.

I will be moving back into gold when prices drop considerably, which I think they will. This break out is too early, the world isn't about to go bust just yet.

[Stu]

Stacking since late 2014. I have not sold a single gram as yet. I will wait another couple of years until the first semi Numis I purchasd have appreciated and sell a percentage then and reinvest in the stack. If we see a massive move upwards at some point I will sell a percentage of my bullion. That's the plan anyway, sure it will work out exactly like this? I intend to add small amounts to the stack but like others, have difficulty pulling the trigger when prices are so high. On the plus side if gold goes another £50 higher my libertad proof set will be worth melt value alone. I do not know what my average cost per Oz is but have it all written down on paper. At a guess 10% up in gold and around break even in silver.

[Roy]

I haven't sold anything either, but then I never have.

I was really tempted because of the increase in spot and thought I'd perhaps sell some bullion too.

I got it all out of the fridge and started to sift through it, cross referencing my 'stack sheet', looking at premiums etc. and there was a clear and tidy profit to be made. 

But I couldn't do it. No matter how dirty, worn or damaged the coin was (mostly sovs), I still liked it. So much history. Certainly with the Somme in my mind.

I put them back into their capsules, in their respective cases, back on the shelf under the beer, and closed the door.

 

I need to buy more modern bullion .

 

[HelpingHands]

And you'll need to buy more beer.

[Roy]

Why?