Late to the game?

[CollegeKevin]

Hello all. My name's Kevin and this is my first post. Just started stacking silver and just received my 2x 10oz Geiger bars and 1x OPM 10oz bar. Today I decided to buy 10x 1oz sunshine mint rounds. Decided to join a silver community for maybe some info/deals. After reading a few posts in this section I'm almost turned away from continuing to stack...  it seems like the market may be dead?  Question I have now is should I hold off on purchasing 20-30oz a month and expect a dip in the $14's before start buying or just figure it will all average out over time?  I know it sounds like I'm asking for a prediction of the future but I don't mean it like that. Just asking for a little guidance. Thanks all in advance. Kevin. 

[Oldun]

If you are buying bullion at the cheapest price you can find each month, then the brain dead way to hedge the price going up or down over time is to set yourself the same cash amount each month and buy over the long term each month - some months you may get more, some months you may get less. It also depends on what your personal goals are both financially and time wise. Bullion is easier and quicker to sell if you need to liquidate quickly. You appear to be in The States so JM Bullion would seem to be a great option for you.

[Oldun]

https://www.jmbullion.com/silver/

 

You can make a first purchase of 10 oz for spot !

[Gav]

Hi Kevin.

I'm curious why you think the market is dead?

If I could give you a recommendation, try and buy some coins too. The premiums are a bit more, but they are much more liquid and in some cases they go up in value even if the spot price drops.

Each person has their own strategies and bulking up on weight is one too.

No one has a crystal ball, some technical analysts say that there is a good chance that we may retest prices in the $14's but that isn't certain.

[Oldun]

https://www.jmbullion.com/about/shipping/#

[Oldun]

It's easy, the price of silver reflects inflation/deflation as it is mostly an industrial metal.

If you think inflation is going to occur, buy it. If not, don't/sell it.

 

I could see silver hitting lower than now but I would be very surprised to see single figures (in usd). so it is a decent year to start accumulating perhaps at a monthly rate as mentioned above.

[Agpanda]

Hi Kevin, welcome to the forum

Its better to buy some each month

Atleast you get more than most people

Price might go up, or down

Still its better to have some then to have none

[Stu]

Welcome to the forum

 

[vand]

Stackers' lesson #1: the price doesn't have to go up just because you bought some.

[ApisMellifera]

Welcome to the forum.

You're never to late to buy precious metals.

The value of gold/silver is in how many ounces you have at the end of the day and not in the fiat amount (£/$ etc) of the metals.

In my opinion, investing should be boring so that I can sleep at night.
If I want excitement, I'll either go to a theme park, hop on a rollercoaster or go to the cinema and watch a movie.

Here are a couple vid's of my fav youtuber, that could answer your questions.

 

[BackyardBullion]

Welcome to the forum!

[Pete]

Buying bullion silver tax free in the USA is something that we Brits only dream of.
 

[CollegeKevin]

10 hours ago, Oldun said:

If you are buying bullion at the cheapest price you can find each month, then the brain dead way to hedge the price going up or down over time is to set yourself the same cash amount each month and buy over the long term each month - some months you may get more, some months you may get less. It also depends on what your personal goals are both financially and time wise. Bullion is easier and quicker to sell if you need to liquidate quickly. You appear to be in The States so JM Bullion would seem to be a great option for you.

I think thats a good strategy of setting a monthly cash limit.  Yea I've placed my second order with JM Bullion yesterday.  I was very satisfied with what I received.  Thanks!

10 hours ago, Oldun said:

https://www.jmbullion.com/silver/

 

You can make a first purchase of 10 oz for spot !

That's exactly what I bought.  LOL

[kimchi]

Late to the game? I think it's the perfect time to start! Blimey if I started now with the funds I first ploughed in I'd have...I'd have...*strokes imaginary free monster box in his head*

Enjoy and wlecome to the forum!

[Bullionbilly]

Welcome along 

[sixgun]

Listening to Silver Doctors youtube videos they say the US precious metal market is dead. That some people are throwing in the towel.

i hear on these US based videos that currently semi numismatic gold like the Saint Gaudens $20 Double Eagle is the same price as a standard Double Eagle. 

This is when you should be buying. 

If you are buying bars try to find the bars that are more collectible. You might find them for the same price as the standard bars from the bigger producers. Keep looking all the time. You will see the better deals and then you pounce.

[KDave]

I think the next few months will be an excellent time to accumulate some pm. I am accumulating bullion silver, a few ounces a month and the odd bit of gold when I can. 

Remember though that in the end whether you pay for advice or do your own research it will be your bank account alone that is held accountable for your investment decisions.

Personally I am happy to buy now as if I am wrong, which is normally the case, I can hold for decades if needs be. More importantly, I think there is a decent chance for upside and see the metals as cheap compared to everything else. 

[CollegeKevin]

So im still here and still buying. My tastes have changed but im way over what i ever thought would even be possible. Those first 30 ounces are so minute compared to the damage i have done. 

[DarkChameleon]

Are you still in college?.

[999magnum]

On 03/08/2017 at 10:12, Pete said:

Buying bullion silver tax free in the USA is something that we Brits only dream of.
 

We are now getting taxed. JM Bullion and APMEX are taxing already and soon all others will follow.

[SiliconToad]

If you are buying as a long term hold, I think you are getting in at one of the rare moments in history where it actually does make sense. Interest rates are stupid low, the Fed has said they are holding off on tightening, there are indications of economic cooling (inverse yield curve, yada yada) and the stock market is near it's all time high. The time you want to be selling is when there is blood on Wall Street (not literally, you know what I mean).

But let me give you some free advice, given by some dude on the internet that doesn't care if you take heed or not. Precious metals are not, have not been, nor are ever likely to be 1) a good investment relative to other options or 2) a good hedge against inflation. Precious metals are a placebo sought out by the fearful to make them feel better about their place in life, an industrial commodity to be traded by speculators and trinkets that have a nominal cost of the buy/sell spread. The reason gold/silver has been used for money throughout history is not because of any inherent quality, but because it was the best technology of the period to prevent counterfeiting. 

Don't get me wrong, my 10oz Black Bull is in the mail (can't wait!) but I don't expect to ever make money on the purchase. 

[DarkChameleon]

On 03/08/2017 at 10:12, Pete said:

Buying bullion silver tax free in the USA is something that we Brits only dream of.
 

In the U.S we don't have to pay taxes on purchases but that doesn't mean we are not liable, we are then the ones who have to declare it then lay taxes, it's not free, a company, Newegg was selling Computer parts without taxes which people loved, but then it told the state who those people were and those people got hit with incredible amounts of bac, taxes and late fees...what looks like a great deal can be a nightmare that just hasn't happened yet.

[Lr103]

54 minutes ago, DarkChameleon said:

In the U.S we don't have to pay taxes on purchases but that doesn't mean we are not liable, we are then the ones who have to declare it then lay taxes, it's not free, a company, Newegg was selling Computer parts without taxes which people loved, but then it told the state who those people were and those people got hit with incredible amounts of bac, taxes and late fees...what looks like a great deal can be a nightmare that just hasn't happened yet.

Of course the exception is that there are 5 states with zero sales tax, so purchases are truly tax free in those locations.

[DarkChameleon]

5 minutes ago, Lr103 said:

Of course the exception is that there are 5 states with zero sales tax, so purchases are truly truly tax free in those locations.

If you buy and sell in that state...like some ebayers have to notify that buying In the same state as selling will incur taxes, I live in florida, some sellers are based in florida, if you are outside you don't pay taxes so the dealsseemgreat, if I buy from that dealer they have to hit me with sales tax or they get in trouble making those great deals not so great 

[Lr103]

13 minutes ago, DarkChameleon said:

If you buy and sell in that state...like some ebayers have to notify that buying In the same state as selling will incur taxes.

As long as you are a resident of a state with no sales tax, no taxes are incurred (the exception is that there are a handful of origin based sales tax states, where sellers must collect taxes from all sales.  Texas is like this).  Everywhere else is destination based.  This means if you are for example a resident of Montana (no sales tax), and buy something from a seller in New York, no taxes are withheld, nor is there any sales tax liability for the buyer.