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Where are your "stops"?


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Prices have shot up today on the back of several factors, with gold edging back towards the $1300/oz (£765) level and silver comfortably above $20/oz (just under £12). Personally I am not happy buying gold if it gets too much higher, and will switch to mainly silver unless it also goes too high for my liking in which case I will stop altogether and wait for a dip, but what does everyone else think? 

 

Do you have your own "resistance" lines above which you won't buy any more, or is it a case of "keep on stacking" regardless?

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For me personally as a collector I will buy coins that I require or desire regardless of spot price, most of the silver coins I buy nowadays spot makes no difference to the price one way or the other.

 

If I was a pure stacker I'd stack regardless up to $35 per ounce with a 15% stop loss,15% sounds a lot but silver is very volatile and there will be profit taking and manipulation on the way up so you don't want to set too tight a stop loss if you are a trader.

The problem with common sense is, its not that common.

 

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It's a tough one, I debate myself in my head about it.

 

I think about it like "hmm an extra £20+ now for a 1oz gold coin that I could of got for cheaper a month ago, maybe I should wait and hope it goes down"

 

But then I think "well I'm planning to hold on to the gold for the foreseeable future so what's an extra £20 per coin now; I waste £20 all the time anyway on rubbish I don't need"

 

I think the second one is better logic to me

 

For example I like chocolate fingers, I eat a pack of chocolate fingers everyday, they're £2.. I spend £60 a month on chocolate fingers lol If i give them up for a month that covers the extra little bit for 3 1 oz coins. 

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The Money Printing Myth the Fed can't and don't money print - Deflation ahead, not inflation 

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Same as motorbikez, the stuff I buy doesn't *really* change in price a whole lot with respect to spot, what I buy has more or less been roughly constant for the last 2 - 3 years.

 

If anything, when spot goes up then I spend less on generic bullion and more on numismatic because of this.

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I have been stacking for 3-4 years, and will keep on doing so through thick and thin, or the (Highs & Lows).

 

I am just waiting for early July (Pay) and will be putting another big order in to STG whether it is £12.67 or £11.21. It is still going in, as I intend to keep my stack for 10-20 years for the two girls.

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I look at it this way. In the last 24 hours my gold and sliver stack has risen in value by £36. I'm not complaining..... :D

 

But like Keith I'm in this for the long term. 15-20 years. There will be ups and downs, I'll spend the same amount per month and some months I'll have more coins than others. I'm not really fussed

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sorry to put a damp squid in here , but like shares  you've made NOTHING  until you sell them  , loads of penny share holders  made thousands  only to hold them  wait for more price rises then the penny shares came back to what they paid and went below the buy price and they lost most or all of their money 

if they,d have sold on a 25-50 % increase they could have paid off their mortgages

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sorry to put a damp squid in here , but like shares you've made NOTHING until you sell them , loads of penny share holders made thousands only to hold them wait for more price rises then the penny shares came back to what they paid and went below the buy price and they lost most or all of their money

if they,d have sold on a 25-50 % increase they could have paid off their mortgages

People are talking about the value of their stack rising, and the value of their stack has risen.

They don't need to sell their stack to put a value against it.

If somebody had said they have made a profit, then I'd agree with you. Profit or loss is only realised upon sale, value is ever changing.

Stacker since 2013

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Well I don't trade paper silver, I like physical metal. But there comes a point where if prices rise significantly and quickly, not only does it become less affordable, but maybe the metal is overvalued, and I don't think buying at the peak is a good strategy if I'm just interested in ounces stacked; may as well wait for dips. Only tricky thing is judging whether something has peaked or not.

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As and when silver moves to the skies I believe I will start buying more numismatic coins as they will hold their value better in a bear market. (Just a shame it might be a hassle to sell) but id probably be a full collector by then, collecting something that I know would not loose much value if sold in the secondary market, id just buy what I liked and not worry about reselling it unless absolute must.

My posts are my personal opinions, they do not constitute advice or financial advice.

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it's interesting to read that some will sell their stack when silver hits a certain point.  But, sell for a fiat currency is all well and good but for me being involved in PMs it's because of my inherant distrust of these continually devalued currencies such as Sterling and Dollar and so yes, while I would also consider selling at certain points on the way up, I'd want to use that money to get back into something else that would make me feel more secure.  So the question is, yes you sell for unbacked fiat currency but what would you then do with the cash?  Buy more PMs or something else that will replace the security you quite likely lost on selling your stack, such as property for example?

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